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Side-by-side financial comparison of RxSight, Inc. (RXST) and System1, Inc. (SST). Click either name above to swap in a different company.
System1, Inc. is the larger business by last-quarter revenue ($51.9M vs $32.6M, roughly 1.6× RxSight, Inc.). System1, Inc. runs the higher net margin — -26.0% vs -28.1%, a 2.1% gap on every dollar of revenue. On growth, RxSight, Inc. posted the faster year-over-year revenue change (-18.9% vs -31.3%). Over the past eight quarters, RxSight, Inc.'s revenue compounded faster (5.1% CAGR vs -21.8%).
RxSight, Inc. is a medical technology company focused on developing and commercializing innovative intraocular lens solutions for patients undergoing cataract and refractive lens exchange procedures. Its flagship Light Adjustable Lens allows post-surgery power adjustment via a dedicated light delivery device, serving global ophthalmology care markets to improve post-operative visual outcomes for patients.
System1 is an American Internet advertising company. Formerly known as OpenMail, it was founded in 2013. It describes itself as operating a "Responsive Acquisition Marketing Platform", and cites privacy as one of its principal foci, although it has been criticized for its influence on privacy-focused properties, including search engine Startpage.com. It is headquartered in Marina del Rey, California.
RXST vs SST — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $32.6M | $51.9M |
| Net Profit | $-9.2M | $-13.5M |
| Gross Margin | 77.5% | 41.0% |
| Operating Margin | -34.8% | -33.6% |
| Net Margin | -28.1% | -26.0% |
| Revenue YoY | -18.9% | -31.3% |
| Net Profit YoY | -54.1% | 4.8% |
| EPS (diluted) | $-0.22 | $-3.58 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $32.6M | $51.9M | ||
| Q3 25 | $30.3M | $61.6M | ||
| Q2 25 | $33.6M | $78.1M | ||
| Q1 25 | $37.9M | $74.5M | ||
| Q4 24 | $40.2M | $75.6M | ||
| Q3 24 | $35.3M | $88.8M | ||
| Q2 24 | $34.9M | $94.6M | ||
| Q1 24 | $29.5M | $84.9M |
| Q4 25 | $-9.2M | $-13.5M | ||
| Q3 25 | $-9.8M | $-18.5M | ||
| Q2 25 | $-11.8M | $-17.5M | ||
| Q1 25 | $-8.2M | $-15.9M | ||
| Q4 24 | $-5.9M | $-14.2M | ||
| Q3 24 | $-6.3M | $-23.6M | ||
| Q2 24 | $-6.1M | $-26.4M | ||
| Q1 24 | $-9.1M | $-10.5M |
| Q4 25 | 77.5% | 41.0% | ||
| Q3 25 | 79.9% | 36.9% | ||
| Q2 25 | 74.9% | 35.7% | ||
| Q1 25 | 74.8% | 38.2% | ||
| Q4 24 | 71.6% | 42.1% | ||
| Q3 24 | 71.4% | 28.0% | ||
| Q2 24 | 69.5% | 27.6% | ||
| Q1 24 | 70.1% | 21.9% |
| Q4 25 | -34.8% | -33.6% | ||
| Q3 25 | -40.1% | -25.3% | ||
| Q2 25 | -41.6% | -20.4% | ||
| Q1 25 | -28.2% | -17.6% | ||
| Q4 24 | -21.5% | -15.7% | ||
| Q3 24 | -26.1% | -24.6% | ||
| Q2 24 | -23.9% | -30.8% | ||
| Q1 24 | -36.2% | -30.4% |
| Q4 25 | -28.1% | -26.0% | ||
| Q3 25 | -32.4% | -30.1% | ||
| Q2 25 | -35.0% | -22.4% | ||
| Q1 25 | -21.6% | -21.3% | ||
| Q4 24 | -14.8% | -18.7% | ||
| Q3 24 | -17.9% | -26.6% | ||
| Q2 24 | -17.4% | -27.9% | ||
| Q1 24 | -30.8% | -12.4% |
| Q4 25 | $-0.22 | $-3.58 | ||
| Q3 25 | $-0.24 | $-2.30 | ||
| Q2 25 | $-0.29 | $-2.23 | ||
| Q1 25 | $-0.20 | $-0.21 | ||
| Q4 24 | $-0.14 | $-3.41 | ||
| Q3 24 | $-0.16 | $-3.37 | ||
| Q2 24 | $-0.16 | $-3.80 | ||
| Q1 24 | $-0.25 | $-0.16 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $228.1M | $86.9M |
| Total DebtLower is stronger | — | $305.1M |
| Stockholders' EquityBook value | $275.7M | $30.5M |
| Total Assets | $311.8M | $405.0M |
| Debt / EquityLower = less leverage | — | 10.01× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $228.1M | $86.9M | ||
| Q3 25 | $227.5M | $54.6M | ||
| Q2 25 | $227.5M | $63.6M | ||
| Q1 25 | $229.3M | $43.9M | ||
| Q4 24 | $237.2M | $63.6M | ||
| Q3 24 | $237.1M | $69.1M | ||
| Q2 24 | $233.3M | $75.7M | ||
| Q1 24 | $125.4M | $69.9M |
| Q4 25 | — | $305.1M | ||
| Q3 25 | — | $259.2M | ||
| Q2 25 | — | $263.3M | ||
| Q1 25 | — | $267.4M | ||
| Q4 24 | — | $255.1M | ||
| Q3 24 | — | $259.2M | ||
| Q2 24 | — | $263.3M | ||
| Q1 24 | — | $268.6M |
| Q4 25 | $275.7M | $30.5M | ||
| Q3 25 | $276.0M | $42.7M | ||
| Q2 25 | $278.0M | $58.2M | ||
| Q1 25 | $279.3M | $67.2M | ||
| Q4 24 | $281.2M | $80.3M | ||
| Q3 24 | $277.3M | $90.3M | ||
| Q2 24 | $275.2M | $109.4M | ||
| Q1 24 | $163.9M | $131.7M |
| Q4 25 | $311.8M | $405.0M | ||
| Q3 25 | $308.5M | $385.2M | ||
| Q2 25 | $309.0M | $429.2M | ||
| Q1 25 | $313.0M | $419.2M | ||
| Q4 24 | $318.6M | $459.1M | ||
| Q3 24 | $310.5M | $479.3M | ||
| Q2 24 | $305.5M | $511.3M | ||
| Q1 24 | $183.2M | $521.1M |
| Q4 25 | — | 10.01× | ||
| Q3 25 | — | 6.07× | ||
| Q2 25 | — | 4.53× | ||
| Q1 25 | — | 3.98× | ||
| Q4 24 | — | 3.18× | ||
| Q3 24 | — | 2.87× | ||
| Q2 24 | — | 2.41× | ||
| Q1 24 | — | 2.04× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-1.1M | $-10.6M |
| Free Cash FlowOCF − Capex | $-2.3M | — |
| FCF MarginFCF / Revenue | -6.9% | — |
| Capex IntensityCapex / Revenue | 3.5% | 0.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-19.3M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-1.1M | $-10.6M | ||
| Q3 25 | $-1.2M | $-2.1M | ||
| Q2 25 | $-4.4M | $24.5M | ||
| Q1 25 | $-8.8M | $-15.9M | ||
| Q4 24 | $-4.3M | $772.0K | ||
| Q3 24 | $650.0K | $-5.0K | ||
| Q2 24 | $-4.0M | $10.0M | ||
| Q1 24 | $-9.3M | $-16.0M |
| Q4 25 | $-2.3M | — | ||
| Q3 25 | $-1.8M | — | ||
| Q2 25 | $-5.9M | — | ||
| Q1 25 | $-9.4M | $-16.0M | ||
| Q4 24 | $-5.1M | — | ||
| Q3 24 | $-453.0K | $-36.0K | ||
| Q2 24 | $-5.5M | — | ||
| Q1 24 | $-11.3M | — |
| Q4 25 | -6.9% | — | ||
| Q3 25 | -5.8% | — | ||
| Q2 25 | -17.6% | — | ||
| Q1 25 | -24.8% | -21.5% | ||
| Q4 24 | -12.7% | — | ||
| Q3 24 | -1.3% | -0.0% | ||
| Q2 24 | -15.9% | — | ||
| Q1 24 | -38.2% | — |
| Q4 25 | 3.5% | 0.0% | ||
| Q3 25 | 1.9% | 0.0% | ||
| Q2 25 | 4.6% | 0.0% | ||
| Q1 25 | 1.5% | 0.1% | ||
| Q4 24 | 2.1% | 0.0% | ||
| Q3 24 | 3.1% | 0.0% | ||
| Q2 24 | 4.4% | 0.0% | ||
| Q1 24 | 6.7% | 0.0% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
RXST
| Rxlal | $28.2M | 86% |
| LDD | $3.0M | 9% |
| Service Warranty Service Contracts And Accessories | $1.5M | 4% |
SST
Segment breakdown not available.
