$RXST
RxSight, Inc.

2022 Q1 Form 10-Q Financial Statement

#000095017022007878 Filed on May 05, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1
Revenue $8.942M $3.484M
YoY Change 156.66% 20.64%
Cost Of Revenue $5.181M $2.365M
YoY Change 119.07% -15.84%
Gross Profit $3.761M $1.119M
YoY Change 236.1% 1334.62%
Gross Profit Margin 42.06% 32.12%
Selling, General & Admin $13.62M $5.611M
YoY Change 142.74% 52.22%
% of Gross Profit 362.14% 501.43%
Research & Development $6.719M $6.643M
YoY Change 1.14% 15.81%
% of Gross Profit 178.65% 593.66%
Depreciation & Amortization $1.016M $958.0K
YoY Change 6.05% 0.52%
% of Gross Profit 27.01% 85.61%
Operating Expenses $20.34M $12.25M
YoY Change 65.98% 29.33%
Operating Profit -$16.58M -$11.14M
YoY Change 48.88% 18.5%
Interest Expense $1.060M $698.0K
YoY Change 51.86% 127.36%
% of Operating Profit
Other Income/Expense, Net $0.00 $5.018M
YoY Change -100.0% -167.75%
Pretax Income -$17.59M -$6.798M
YoY Change 158.78% -58.79%
Income Tax -$4.000K $7.000K
% Of Pretax Income
Net Earnings -$17.60M -$6.805M
YoY Change 158.57% -58.76%
Net Earnings / Revenue -196.78% -195.32%
Basic Earnings Per Share -$0.64
Diluted Earnings Per Share -$641.6K -$258.8K
COMMON SHARES
Basic Shares Outstanding 27.42M
Diluted Shares Outstanding 27.43M

Balance Sheet

Concept 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $143.8M $64.38M
YoY Change 123.43%
Cash & Equivalents $24.13M $24.85M
Short-Term Investments $119.7M $40.00M
Other Short-Term Assets $3.184M $1.436M
YoY Change 121.73%
Inventory $8.490M $9.760M
Prepaid Expenses
Receivables $5.626M $2.266M
Other Receivables $0.00 $0.00
Total Short-Term Assets $161.1M $77.84M
YoY Change 107.01%
LONG-TERM ASSETS
Property, Plant & Equipment $10.92M $17.88M
YoY Change -38.94%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $132.0K $571.0K
YoY Change -76.88%
Total Long-Term Assets $15.92M $18.45M
YoY Change -13.73%
TOTAL ASSETS
Total Short-Term Assets $161.1M $77.84M
Total Long-Term Assets $15.92M $18.45M
Total Assets $177.1M $96.29M
YoY Change 83.88%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.587M $1.861M
YoY Change 39.01%
Accrued Expenses $7.997M $4.973M
YoY Change 60.81%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $75.00K $23.00K
YoY Change 226.09%
Total Short-Term Liabilities $10.66M $6.857M
YoY Change 55.45%
LONG-TERM LIABILITIES
Long-Term Debt $39.97M $29.50M
YoY Change 35.49%
Other Long-Term Liabilities $3.266M $8.529M
YoY Change -61.71%
Total Long-Term Liabilities $43.24M $38.03M
YoY Change 13.69%
TOTAL LIABILITIES
Total Short-Term Liabilities $10.66M $6.857M
Total Long-Term Liabilities $43.24M $38.03M
Total Liabilities $53.90M $44.89M
YoY Change 20.07%
SHAREHOLDERS EQUITY
Retained Earnings -$496.9M
YoY Change
Common Stock $27.00K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $123.2M $51.40M
YoY Change
Total Liabilities & Shareholders Equity $177.1M $96.29M
YoY Change 83.88%

Cashflow Statement

Concept 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income -$17.60M -$6.805M
YoY Change 158.57% -58.76%
Depreciation, Depletion And Amortization $1.016M $958.0K
YoY Change 6.05% 0.52%
Cash From Operating Activities -$14.99M -$10.25M
YoY Change 46.17% -16.09%
INVESTING ACTIVITIES
Capital Expenditures $370.0K $498.0K
YoY Change -25.7% -158.73%
Acquisitions
YoY Change
Other Investing Activities $15.23M $15.00M
YoY Change 1.52% -40.17%
Cash From Investing Activities $14.86M $14.50M
YoY Change 2.45% -40.13%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -98.00K 6.144M
YoY Change -101.6% 8092.0%
NET CHANGE
Cash From Operating Activities -14.99M -10.25M
Cash From Investing Activities 14.86M 14.50M
Cash From Financing Activities -98.00K 6.144M
Net Change In Cash -229.0K 10.39M
YoY Change -102.2% -14.0%
FREE CASH FLOW
Cash From Operating Activities -$14.99M -$10.25M
Capital Expenditures $370.0K $498.0K
Free Cash Flow -$15.36M -$10.75M
YoY Change 42.84% -5.45%

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CY2021Q1 us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
114000
CY2022Q1 rxst Gain Loss On Expiration Of Warrant
GainLossOnExpirationOfWarrant
0
CY2021Q1 rxst Gain Loss On Expiration Of Warrant
GainLossOnExpirationOfWarrant
5018000
CY2022Q1 us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
47000
CY2021Q1 us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
10000
CY2022Q1 us-gaap Share Based Compensation
ShareBasedCompensation
2649000
CY2021Q1 us-gaap Share Based Compensation
ShareBasedCompensation
1239000
CY2022Q1 us-gaap Inventory Write Down
InventoryWriteDown
73000
CY2021Q1 us-gaap Inventory Write Down
InventoryWriteDown
-7000
CY2022Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
764000
CY2021Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-600000
CY2022Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
530000
CY2021Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
1465000
CY2022Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-814000
CY2021Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
89000
CY2022Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
701000
CY2021Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
721000
CY2022Q1 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-1450000
CY2021Q1 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-498000
CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-14985000
CY2021Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-10252000
CY2022Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
370000
CY2021Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
498000
CY2022Q1 us-gaap Proceeds From Sale Maturity And Collection Of Shortterm Investments
ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments
90000000
CY2021Q1 us-gaap Proceeds From Sale Maturity And Collection Of Shortterm Investments
ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments
20000000
CY2022Q1 us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
74771000
CY2021Q1 us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
4999000
CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
14859000
CY2021Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
14503000
CY2021Q1 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
5000000
CY2021Q1 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
40000
CY2022Q1 rxst Payments For Employee Taxes Related To Stock Compensation
PaymentsForEmployeeTaxesRelatedToStockCompensation
-362000
CY2022Q1 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
44000
CY2021Q1 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
9000
CY2021Q1 rxst Change In Notes Receivable For Redeemable Common Stock Issued Financing Activities
ChangeInNotesReceivableForRedeemableCommonStockIssuedFinancingActivities
-14000
CY2022Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
308000
CY2021Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1207000
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-98000
CY2021Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
6144000
CY2022Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-5000
CY2021Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-4000
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-229000
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
10391000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
25172000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
14455000
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
24943000
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
24846000
CY2022Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
499000
CY2021Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
294000
CY2021Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
11000
CY2022Q1 rxst Interest Paid On Financing Leases
InterestPaidOnFinancingLeases
3000
CY2021Q1 rxst Interest Paid On Financing Leases
InterestPaidOnFinancingLeases
2000
CY2022Q1 rxst Interest Paid On Term Loan
InterestPaidOnTermLoan
925000
CY2021Q1 rxst Interest Paid On Term Loan
InterestPaidOnTermLoan
582000
CY2022Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
87000
CY2022Q1 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
192000
CY2022Q1 rxst Operating Lease Obligations Incurred
OperatingLeaseObligationsIncurred
87000
CY2022Q1 rxst Finance Lease Obligations Incurred
FinanceLeaseObligationsIncurred
166000
CY2022Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
197000
CY2021Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
60000
CY2021Q1 us-gaap Paid In Kind Interest
PaidInKindInterest
13000
CY2022Q1 us-gaap Conversion Of Stock Shares Converted1
ConversionOfStockSharesConverted1
4093995
CY2022Q1 us-gaap Conversion Of Stock Shares Issued1
ConversionOfStockSharesIssued1
4093995
CY2021Q1 rxst Reclassification Of Shares Of Redeemable Common Stock To Common Stock Assumed In Non Cash Investing Or Financing Activity
ReclassificationOfSharesOfRedeemableCommonStockToCommonStockAssumedInNonCashInvestingOrFinancingActivity
87702000
CY2021Q1 rxst Reclassification Of Redeemable Common Stock To Common Stock Options Assumed In Non Cash Investing Or Financing Activity
ReclassificationOfRedeemableCommonStockToCommonStockOptionsAssumedInNonCashInvestingOrFinancingActivity
47370000
CY2022Q1 rxst Number Of Wholly Owned Subsidiaries
NumberOfWhollyOwnedSubsidiaries
1
CY2021Q3 us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
1-for-10.33
CY2021Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
900000000
CY2021Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2022Q1 us-gaap Convertible Preferred Stock Shares Issued Upon Conversion
ConvertiblePreferredStockSharesIssuedUponConversion
14725309
CY2022Q1 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
143800000
CY2021Q4 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
159300000
CY2022Q1 rxst Operating Income Loss1
OperatingIncomeLoss1
16600000
CY2021Q1 rxst Operating Income Loss1
OperatingIncomeLoss1
11100000
CY2022Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;line-height:1.231458333333333;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Use of Estimates</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;"> </span></p><p style="text-indent:3.333%;font-size:10.0pt;margin-top:6.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:8.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">The </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">preparation of consolidated financial statements in conformity with GAAP requires management to make informed estimates, judgments and assumptions that affect the reported amounts in the condensed consolidated financial statements and disclosures in the accompanying notes as of the date of the accompanying condensed consolidated financial statements. On an on-going basis, management evaluates the most critical estimates and assumptions for continued reasonableness. Actual results may differ materially from the estimates used in the</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:8.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">preparation </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">of the accompanying condensed consolidated financial statements under different assumptions or conditions.</span></p>
CY2022Q1 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
83000000
CY2021 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
9000000
CY2022Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:8.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Concentration of Credit Risk and Other Risks and Uncertainties</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;"> </span></p><p style="text-indent:3.333%;font-size:10.0pt;margin-top:6.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:8.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">Financial instruments which potentially subject the Company to concentration of credit risk consist primarily of cash, cash equivalents, short-term investments and accounts receivable. The Company’s policy is to invest cash in institutional money market funds and marketable securities of the U.S. government to limit the amount of credit exposure. The Company currently maintains a portfolio of cash equivalents and short-term investments in money market funds and U.S. treasury bills. Additionally, the Company has established guidelines regarding diversification of its investments and their maturities, which are designed to maintain principal and maximize liquidity. The Company has not experienced material losses on cash equivalents and short-term investments.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:3.333%;font-size:10.0pt;margin-top:6.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:8.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">The Company’s products require approval from the FDA and foreign regulatory agencies before commercial sales can commence. There can be no assurance that the Company’s products will receive any of these required approvals. The denial or delay of such approvals may have a material adverse impact on the Company’s business</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:8.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">and may impact business in the future. In addition, after approval by the FDA, there is still an ongoing risk of adverse events that did not appear during the device approval process.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:3.333%;font-size:10.0pt;margin-top:6.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:8.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">The Company is subject to risks common to companies in the medical device industry, including, but not limited to, new technological innovations, clinical development risk, establishment of appropriate commercial partnerships, protection of proprietary technology, compliance with government and environmental regulations, uncertainty of market acceptance of the Company's products, product liability and the need to obtain additional financing.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:3.333%;font-size:10.0pt;margin-top:6.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:8.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">The Company is subject to the risks related to the global pandemic associated with COVID-19, including local, state, federal and other world-wide mandates imposed to reduce the spread of the virus which could interrupt or reduce the number of cataract surgeries, limit access to ambulatory surgery centers, doctors’ offices and manufacturing facilities, and the expansion of global lead times, particularly in Europe and Asia, leading to a supply interruption from the Company's suppliers. In addition, the Company is currently experiencing inflation and longer lead times and limited availability in its supply chain for certain components and has continued exposure to price and supply risk related to anticipated purchases of certain commodities, materials and products used in its business.</span></p>
CY2022Q1 rxst Accounts Receivable Percentage
AccountsReceivablePercentage
0.10
CY2021 rxst Accounts Receivable Percentage
AccountsReceivablePercentage
0.10
CY2022Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
0
CY2021 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
0
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
8942000
CY2021Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3484000
CY2022Q1 us-gaap Deferred Revenue
DeferredRevenue
622000
CY2021Q4 us-gaap Deferred Revenue
DeferredRevenue
540000
CY2021Q4 rxst Deferred Revenue1
DeferredRevenue1
-540000
CY2020Q4 rxst Deferred Revenue1
DeferredRevenue1
-345000
CY2022Q1 us-gaap Deferred Revenue Additions
DeferredRevenueAdditions
326000
CY2021Q1 us-gaap Deferred Revenue Additions
DeferredRevenueAdditions
95000
CY2022Q1 us-gaap Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
244000
CY2021Q1 rxst Deferred Revenue1
DeferredRevenue1
-110000
CY2022Q1 rxst Deferred Revenue1
DeferredRevenue1
622000
CY2021Q1 us-gaap Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
330000
CY2022Q1 us-gaap Inventory Finished Goods
InventoryFinishedGoods
4164000
CY2021Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
4451000
CY2022Q1 us-gaap Inventory Raw Materials
InventoryRawMaterials
2773000
CY2021Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
2828000
CY2022Q1 us-gaap Inventory Work In Process
InventoryWorkInProcess
1721000
CY2021Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
868000
CY2022Q1 us-gaap Inventory Gross
InventoryGross
8658000
CY2021Q4 us-gaap Inventory Gross
InventoryGross
8147000
CY2022Q1 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
168000
CY2021Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
115000
CY2022Q1 us-gaap Inventory Net
InventoryNet
8490000
CY2021Q4 us-gaap Inventory Net
InventoryNet
8032000
CY2022Q1 us-gaap Other Inventory Materials Supplies And Merchandise Under Consignment
OtherInventoryMaterialsSuppliesAndMerchandiseUnderConsignment
2400000
CY2021Q4 us-gaap Other Inventory Materials Supplies And Merchandise Under Consignment
OtherInventoryMaterialsSuppliesAndMerchandiseUnderConsignment
1800000
CY2022Q1 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
140334000
CY2021Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
156361000
CY2021Q1 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
5000000.0
CY2021Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
0
CY2020Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
8846000
CY2022Q1 rxst Expiration Of Common Stock Warrants
ExpirationOfCommonStockWarrants
0
CY2021Q1 rxst Expiration Of Common Stock Warrants
ExpirationOfCommonStockWarrants
-5018000
CY2022Q1 rxst Gain Loss From Changes In Fair Value Of Preferred Stock Warrants
GainLossFromChangesInFairValueOfPreferredStockWarrants
0
CY2021Q1 rxst Gain Loss From Changes In Fair Value Of Preferred Stock Warrants
GainLossFromChangesInFairValueOfPreferredStockWarrants
0
CY2022Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
0
CY2021Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
3828000
CY2022Q1 rxst Effective Interest Rate On Borrowings Term Loan
EffectiveInterestRateOnBorrowingsTermLoan
0.1072
CY2021Q1 rxst Effective Interest Rate On Borrowings Term Loan
EffectiveInterestRateOnBorrowingsTermLoan
0.1132
CY2022Q1 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
0
CY2022Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
1739000
CY2022Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
20870000
CY2022Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
17391000
CY2022Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
0
CY2022Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
40000000
CY2022Q1 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
110000
CY2022Q1 us-gaap Long Term Debt
LongTermDebt
39890000
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.625
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate
0.625
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.623
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.636
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate
0.636
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.020
CY2022Q1 rxst Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageRiskFreeInterestRate
0.020
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.006
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.017
CY2021Q1 rxst Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageRiskFreeInterestRate
0.011
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y
CY2022Q1 rxst Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Expected Life
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageExpectedLife
P6Y
CY2021Q1 rxst Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Expected Life
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageExpectedLife
P6Y10D
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.000
CY2022Q1 rxst Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Expected Dividend Yield
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageExpectedDividendYield
0.000
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.000
CY2021Q1 rxst Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Expected Dividend Yield
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageExpectedDividendYield
0.000
CY2022Q1 rxst Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsGrantDateFairValue
12.85
CY2022Q1 rxst Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageGrantDateFairValue
12.85
CY2021Q1 rxst Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsGrantDateFairValue
1.51
CY2021Q1 rxst Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageGrantDateFairValue
1.51
CY2022Q1 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
7475130
CY2021Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
6878511
CY2022Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
900000000
CY2022Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
27485685
CY2022Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
27485685
CY2021Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
27366746
CY2021Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
27366746
CY2022Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
100000000
CY2021Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
100000000
CY2022Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2022Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2021Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2021Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2022Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
4057000
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
4284000
CY2022Q1 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
206000
CY2021Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
33000
CY2022Q1 rxst Total Lease Assets
TotalLeaseAssets
4263000
CY2021Q4 rxst Total Lease Assets
TotalLeaseAssets
4317000
CY2022Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1588000
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1509000
CY2022Q1 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
75000
CY2021Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
20000
CY2022Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
3265000
CY2021Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
3625000
CY2022Q1 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
84000
CY2021Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
17000
CY2022Q1 rxst Total Lease Liabilities
TotalLeaseLiabilities
5012000
CY2021Q4 rxst Total Lease Liabilities
TotalLeaseLiabilities
5171000
CY2022Q1 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
3000
CY2021Q1 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
2000
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
1526000
CY2022Q1 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
58000
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1724000
CY2022Q1 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
108000
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1456000
CY2022Q1 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
9000
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
951000
CY2022Q1 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
0
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
80000
CY2022Q1 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
0
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
0
CY2022Q1 us-gaap Finance Lease Liability Payments Due Year Five
FinanceLeaseLiabilityPaymentsDueYearFive
0
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
5737000
CY2022Q1 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
175000
CY2022Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
883000
CY2022Q1 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
16000
CY2022Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
4853000
CY2022Q1 us-gaap Finance Lease Liability
FinanceLeaseLiability
159000
CY2022Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y25D
CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y3M18D
CY2022Q1 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P1Y8M12D
CY2021Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P1Y8M19D
CY2022Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.105
CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.105
CY2022Q1 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.095
CY2021Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.105
CY2022Q1 us-gaap Legal Fees
LegalFees
0
CY2021 us-gaap Legal Fees
LegalFees
0

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