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SGHT

Sight Sciences, Inc.

SGHT

Sight Sciences, Inc. • NASDAQ
$8.36 ▼ -0.36% (-0.03)
Market Cap $442.01 M
52w High $8.80
52w Low $2.03
Dividend Yield 0%
P/E -9.29
Volume 140.88K
Outstanding Shares 52.87M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $19.906M ▲ $25.102M ▼ $-8.169M ▲ -41.038% ▲ $-0.16 ▲ $-6.837M ▲
Q2-2025 $19.564M ▲ $28.254M ▼ $-11.941M ▲ -61.036% ▲ $-0.23 ▲ $-10.492M ▲
Q1-2025 $17.508M ▼ $28.953M ▲ $-14.154M ▼ -80.843% ▼ $-0.28 ▼ $-12.701M ▼
Q4-2024 $19.074M ▼ $28.49M ▲ $-11.846M ▼ -62.105% ▼ $-0.23 ▼ $-10.471M ▼
Q3-2024 $20.157M $28.136M $-11.066M -54.899% $-0.22 $-9.591M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $92.373M ▼ $116.256M ▼ $51.966M ▲ $64.29M ▼
Q2-2025 $101.5M ▼ $121.971M ▼ $51.959M ▼ $70.012M ▼
Q1-2025 $108.768M ▼ $129.68M ▼ $52.052M ▼ $77.628M ▼
Q4-2024 $120.357M ▲ $142.839M ▼ $55.316M ▲ $87.523M ▼
Q3-2024 $118.564M $143.597M $48.64M $94.957M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-8.169M ▲ $-8.719M ▼ $-170K ▲ $25K ▼ $-8.864M ▼ $-8.889M ▼
Q2-2025 $-11.941M ▲ $-7.543M ▲ $-210K ▼ $485K ▲ $-7.268M ▲ $-7.753M ▲
Q1-2025 $-14.154M ▼ $-11.605M ▼ $0 ▲ $16K ▼ $-11.589M ▼ $-11.605M ▼
Q4-2024 $-11.846M ▼ $-3.459M ▼ $-137K ▼ $5.389M ▲ $1.793M ▲ $-3.596M ▼
Q3-2024 $-11.066M $600K $-51K $-162K $387K $549K

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Dry Eye
Dry Eye
 $0 ▲$0 ▲$0 ▲$0 ▲
Surgical Glaucoma
Surgical Glaucoma
 $20.00M ▲$20.00M ▲$20.00M ▲$20.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Sight Sciences looks like a typical young medical‑device company still in the scale‑up phase. Revenue has grown steadily each year from a small base, which is a positive sign of market adoption. Gross margins appear strong, suggesting the products themselves have attractive economics. However, sales, marketing, and R&D spending are still much higher than gross profit, so the company has posted operating and net losses every year. Those losses seemed to widen into 2022 and then improve somewhat, but the business remains structurally unprofitable and still needs scale and cost discipline to move toward breakeven.

Balance Sheet

Balance Sheet The balance sheet reflects a post‑IPO company gradually drawing down its cash reserves to fund growth. Total assets and cash peaked shortly after going public and have trended lower as losses accumulated. Debt is present but modest compared with cash, so leverage risk looks contained for now. Shareholders’ equity turned positive after the IPO and has been shrinking as losses stack up, which means the financial cushion is thinner than a few years ago but not yet exhausted. Overall, the company still has some balance sheet strength, but its margin for error is narrowing over time.

Cash Flow

Cash Flow Cash flow is clearly negative, driven by operating losses. The company has burned cash from operations every year, though the rate of burn has improved from the worst period. Capital spending is minimal, so free cash flow is essentially just the operating cash deficit. This means the business is still reliant on its existing cash balance and, eventually, on the ability to raise additional capital if it does not reach breakeven. The trajectory is moving in the right direction, but sustainability over several years depends on further reductions in cash burn or faster revenue growth.

Competitive Edge

Competitive Edge Sight Sciences competes in attractive ophthalmology niches: glaucoma surgery and dry eye treatment. Its main glaucoma devices (OMNI and SION) are differentiated by being implant‑free and designed to restore more of the eye’s natural fluid outflow, which can appeal to surgeons worried about permanent implants. For dry eye, TearCare offers an open‑eye, wearable system that provides a distinctive patient and physician experience compared with rivals. The company also benefits from a meaningful patent portfolio and a notable legal win against a large competitor, supporting its intellectual property moat. Counterbalancing this, it is a relatively small player up against much larger eye‑care and pharma companies with deeper commercial resources, and its growth is heavily influenced by reimbursement decisions and surgeon adoption patterns.

Innovation and R&D

Innovation and R&D Innovation is a clear focus. The company has already commercialized three differentiated platforms and is working on multiple next‑generation glaucoma devices, including updated versions of OMNI and new goniotomy tools. It is also signaling a move into drug‑device combinations, particularly sustained‑delivery glaucoma therapies, which could materially expand its opportunity if successful. Ongoing clinical trials aim to show stronger long‑term outcomes and superiority versus competing treatments, which are critical for reimbursement and adoption. The flip side is execution risk: clinical, regulatory, and commercial hurdles must all be cleared, and continued R&D spending adds pressure to reach scale efficiently.

Summary

Sight Sciences combines an innovative ophthalmic product portfolio with a financial profile typical of an early‑stage med‑tech company. On the positive side, revenue is growing, gross margins are attractive, the technology is differentiated, and the intellectual property position looks solid, supported by clinical data and legal wins. On the risk side, the company remains loss‑making, burns cash, and is gradually eroding its post‑IPO cash cushion, with a shrinking equity base. Future value creation will largely depend on its ability to accelerate adoption of OMNI, SION, and TearCare, secure broad and durable reimbursement, successfully launch next‑generation and drug‑device products, and tighten operating costs over time. Monitoring revenue growth, operating loss trends, cash levels, and key clinical and reimbursement milestones will be important for understanding how the story is evolving.

NEWS

November 6, 2025 · 4:05 PM UTC

Sight Sciences Reports Third Quarter 2025 Financial Results and Raises Full Year 2025 Revenue Guidance

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November 6, 2025 · 4:04 PM UTC

Sight Sciences Appoints Ali Bauerlein as Chief Operating Officer and Jim Rodberg as Chief Financial Officer

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November 4, 2025 · 4:05 PM UTC

Sight Sciences to Present at Two Upcoming Investor Conferences

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October 23, 2025 · 4:05 PM UTC

Sight Sciences to Report Third Quarter 2025 Financial Results on November 6, 2025

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October 17, 2025 · 7:00 AM UTC

Sight Sciences Announces Fee Schedule Establishment from Novitas Solutions and First Coast Service Options for the TearCare® Interventional Dry Eye Procedure

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