RxSight, Inc.

Thank you for standing by. My name is Andrea, and I will be your conference operator today. At this time, I would like to welcome everyone to the RxSight third quarter 2024 earnings conference call. All lines have been placed in mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star followed by the number one on your telephone keypad. If you would like to withdraw your question, press star one again. I would now like to turn the call over to Oliver Marupcevic, Vice President of Investor Relations. Thank you. Please go ahead.

Thank you, Operator. Presenting today are RxSight President and Chief Executive Officer, Dr. Ron Kurtz, and Chief Financial Officer, Shelley Tunin. Earlier today, RxSight released financial results for the three-month ended September 30, 2024. A copy of the press release is available on the company's website. Before we begin, I would like to inform you that comments and responses to questions during today's call reflect management views as of today, November 7, 2024, and will include forward-looking and opinion statements, including predictions, estimates, plans, expectations, and other information. Actual results may differ materially from those expressed or implied as a result of certain risks and uncertainties. These risks and uncertainties are more fully described in our press release issued today and in our filings with the Securities and Exchange Commission, or SEC. Our SEC filings can be found on our website or the SEC's website. Investors are cautioned not to place undue reliance on forward-looking statements, and we disclaim any obligation to update or revise these forward-looking statements, except as it may be required by law. We will also discuss certain non-GAAP financial measures. Disclosures regarding non-GAAP financial measures, including reconciliations with the most comparable GAAP measures, can be found in the press release. Please note that this conference call will be available for audio replay on our investor relations website. With that, I will turn the call over to our President and Chief Executive Officer, Dr. Ron Kurtz. Ron?

Good afternoon, and thank you for joining us. We're pleased to report another successful quarter of building the infrastructure for patient-driven outcomes in premium cataract surgery with a light adjustable lens. While Shelley will provide a detailed review of our third quarter financial results and our outlook for the remainder of the year, I'd like to highlight some of the broader themes that continue to play out during the quarter and reinforce our confidence and sustained momentum through year-end and beyond. In Q3, we experienced robust growth in our LDD-installed base, surpassing typical seasonal expectations. This growth underscores the increasing recognition of the value that postoperative adjustability brings to ophthalmic practices and cataract surgery patients. I want to recognize the high-quality efforts of our commercial and operations teams that achieved this result, as well as to thank our existing and new customers for showcasing the win-win clinical and practice benefits of the RxSight system. LAL sales were in line with seasonal trends, as Q3 is typically impacted by doctor and patient travel schedules. Despite these seasonal headwinds and even hurricanes in the final weeks of the quarter, we believe our strong LAL sales underscore the value that patients and doctors place on being able to customize superior visual outcomes. We are also happy to report the full rollout of LAL Plus in the U.S. and the recent approval of LAL Plus in Canada. As presented at the American Academy of Ophthalmology meeting in October, the LAL Plus delivers an average of 1.3 additional lines of distance corrected near vision compared to the already excellent vision achieved with the standard LAL. This, combined with the ability to customize refraction in both eyes, a path taken by over 90% of LAL patients, leads to remarkable binocular visual outcomes. with more than 90% of patients achieving distance vision of 20-20 or better and near vision of J-2 or better without glasses. While LAL Plus has been positively received by both patients and doctors, the high-quality vision provided by the standard LAL continues to be particularly valued for patients with more complex ocular histories. As a result, we expect both the LAL and LAL Plus to maintain their unique market positions with our in-house manufacturing capabilities providing the flexibility to adjust the production mix between the two lenses to meet demand. In Q4, we're also on track to release the recently approved low-diopter LAL Plus powers, which will give our platform the broadest spherical power range of any astigmatism-correcting IOL, from minus 2 to plus 30 diopters. Our commitment to innovation remains a core driving force at our site, and I want to recognize the tremendous efforts of our development and operations teams in continuously advancing our LAL and LDD technologies to deliver superior outcomes for patients. I also want to thank the doctors who have adopted our technology and offered their input to our team, helping to direct us toward the most clinically relevant advances that maintain RxSight's position at the forefront of premium IOL innovation and growth. In the near term, our primary growth focus remains on expanding penetration within the North American market, where we are still in the early stages of reaching the broad population of cataract surgeons and patients. As we have discussed previously, we are also expanding our exposure to the optometric community, who are key participants in patient diagnosis, counseling, and decision-making. We believe the LAL fits extremely well with the clinical mindset of most optometrists who rely on similar refractive principles in their daily practice. For the same reason, optometrists play an increasingly important role in the care of LAL patients in concert with ophthalmologists and other eye care professionals. We plan to apply our North American experience to the significant opportunities for further expansion into the global premium IOL market and look forward to providing updates on our regulatory and commercial efforts in both Asia and Europe over the coming months. With that, I'll turn the call to Shelley.