RxSight, Inc. — Earnings Quality Grade F
RXST · Healthcare
Major red flags
Screening Summary
管理层信号
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 63 days, change -15 days YoY
AR growth -22.2% vs revenue growth -3.9%
Revenue -3.9%, CFFO 8.5%. Cash follows revenue
Expense Quality
Inventory growth 43.4% far exceeds COGS -23.2%, margin rising. Fraud signal
Small-cap context: Inventory ratios on a small base are noisy; a single product launch can move them sharply.
CapEx growth -29.6% vs revenue -3.9%. Normal
SG&A/Gross Profit = 109.4%, exceeds 70%
Gross margin swung +5.9pp (70.7% → 76.6%)
Cash Flow Quality
CFFO < Net Income for 3 consecutive years
Small-cap context: Small-cap CFFO/NI often diverges from working-capital swings, not necessarily manipulation.
FCF is negative ($-0.0B)
Accruals ratio = -7.5%. Low accruals
Cash $0.2B covers debt $0.0B
Balance Sheet Health
No goodwill. Clean balance sheet
Interest coverage = -2536.4x (<2x). Financial stress
Other assets grew 20.7% vs revenue -3.9%
No write-off data
Acquisition Risk
FCF after acquisitions negative for 3 years
Small-cap context: A single acquisition on a small balance sheet can trip serial-acquirer logic.
No goodwill
Manipulation Score
M-Score = -3.02 (< -2.22). Unlikely manipulator
Beneish M-Score
Altman Z-Score
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25