Sight Sciences Reports Second Quarter 2026 Financial Results
Rhea-AI Summary
Sight Sciences (Nasdaq: SGHT) reported second quarter 2026 revenue of $23.4 million, up 20% year over year, with Interventional Glaucoma at $20.7 million (+8%) and record Interventional Dry Eye at $2.7 million (+704%). Gross profit was $21.4 million and reported gross margin 91%, or 86% excluding a $1.4 million tariff refund benefit.
Total operating expenses fell 11% to $25.3 million, and net loss improved to $4.4 million from $11.9 million, with net loss per share of $0.08. Cash and cash equivalents were $79.8 million with total long-term debt of $40.0 million; cash usage declined 28% to $5.2 million, or $1.4 million excluding non-recurring items. The company raised its full-year 2026 revenue guidance to $88–$92 million and lowered adjusted operating expense guidance to $92–$94 million. Additional highlights included expanded reimbursement and coverage for its glaucoma and dry eye procedures, and FDA 510(k) clearance for the OMNI Ultra Surgical System.
Positive
- Q2 2026 revenue $23.4M, up 20% year over year
- Interventional Dry Eye revenue $2.7M, up 704% year over year
- Total operating expenses down 11% year over year to $25.3M
- Net loss improved 63% year over year to $4.4M
- 2026 revenue guidance raised to $88–$92M from $83–$89M
- Adjusted operating expense guidance reduced to $92–$94M for 2026
Negative
- Net loss of $4.4M in Q2 2026; company remains unprofitable
- 2026 adjusted operating expenses guided to $92–$94M, similar to projected revenue range
News Explained
The unreconciled non-GAAP expense forecast leaves its GAAP spending implications unresolved, while the reported share-count increase may dilute existing ownership.
The August 5 release reports second-quarter results for the period ended
The reduced full-year adjusted operating expense guidance is a non-GAAP measure, and the release provides no reconciliation to GAAP because substantial uncertainty surrounds future adjustments, leaving the relationship between the two measures unresolved.
Market Reaction – SGHT
Following this news, SGHT has declined 8.47%, reflecting a notable negative market reaction. Our momentum scanner has triggered 20 alerts so far, indicating elevated trading interest and price volatility. The stock is currently trading at $5.08. Trading volume is very high at 3.1x the average, suggesting heavy selling pressure.
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Raises Full-Year 2026 Revenue Guidance and Reduces Adjusted Operating Expense Guidance
MENLO PARK, Calif., Aug. 05, 2026 (GLOBE NEWSWIRE) -- Sight Sciences, Inc. (Nasdaq: SGHT) (Sight Sciences or the Company), an eyecare technology company focused on developing and commercializing innovative, interventional technologies intended to transform care and improve patients’ lives, today reported financial results for the second quarter ended June 30, 2026, raised its revenue guidance and reduced its adjusted operating expense guidance, both for full year 2026.
Recent Financial and Business Highlights
- Second quarter revenue of
$23.4 million , a20% increase compared to$19.6 million in the second quarter of 2025.
- Interventional Glaucoma (IG) revenue of
$20.7 million , an8% increase compared to$19.2 million in the second quarter of 2025.
- Record Interventional Dry Eye (IDE) revenue of
$2.7 million , a704% increase compared to$0.3 million in the second quarter of 2025, and a98% increase compared to$1.4 million in the first quarter of 2026.
- Cash and cash equivalents totaled
$79.8 million as of June 30, 2026. Cash usage was$5.2 million in the second quarter of 2026, a28% improvement compared to the same period in the prior year. Cash usage included$3.8 million of non-recurring items in the quarter, including a$5.4 million litigation success fee, partially offset by$1.6 million of tariff refunds received. Excluding these one-time items, cash usage was$1.4 million , down81% compared to the same period in the prior year.
- Added an estimated 4.1 million patient lives in the second quarter of 2026 following publication of fee schedules from certain insurance plans that align with recently updated Medicare pricing for CPT® code 0563T, increasing total IDE patient lives with access to appropriate reimbursement from approximately 10.4 million to 14.5 million1.
- IG coverage expanded with the addition of approximately 25 million commercial covered lives from Aetna® Inc. (Aetna), one of the largest health plans in the United States. Aetna now recognizes certain implant-free glaucoma procedures, including ab interno canaloplasty (e.g., OMNI) and adult goniotomy (e.g., SION) as medically necessary for mild-to-moderate open-angle glaucoma when specified clinical criteria are met. This coverage policy is retroactive to July 14, 2026.
- Received U.S. Food and Drug Administration 510(k) clearance of the OMNI® Ultra Surgical System (OMNI Ultra). OMNI Ultra with TruSync™ Plus technology is designed to provide surgeons with improved procedural control, efficiency, and versatility, while maintaining the safety and reliability of the OMNI platform.
“We delivered a strong second quarter, with revenue growth accelerating to
Second Quarter 2026 Financial Results
Revenue for the second quarter of 2026 was
Gross profit for the second quarter of 2026 was
Total operating expenses were
Net loss was
Cash and cash equivalents totaled
2026 Financial Guidance
Sight Sciences raised its revenue guidance for full year 2026 to range from
The Company reduced its full year 2026 adjusted operating expenses2,4 guidance to range from
1 Published fee schedules include fee schedule amounts posted on public websites and posted by insurance plans to their provider-accessible portals. Total estimated number of patient lives is derived from publicly available information and includes Medicare Part B beneficiaries, Medicare Advantage Plan enrollees, and other insured individuals. TearCare procedure claims are payable based on individual medical necessity determinations.
2 “Adjusted operating expenses” is a financial measure not prepared in accordance with generally accepted accounting principles in the United States (“GAAP”, and is referred to as a “non-GAAP financial measure”). “Adjusted operating expenses” is calculated as operating expenses less stock-based compensation expense, depreciation and amortization, restructuring costs, and other one-time costs.
3 A reconciliation of the non-GAAP financial measure to the most directly comparable GAAP financial measure has been provided in the table titled "GAAP to Non-GAAP Reconciliation" attached to this press release.
4 Consistent with Securities and Exchange Commission (“SEC”) regulations, the Company has not provided a reconciliation of forward-looking non-GAAP financial measures to the most directly comparable GAAP financial measures in reliance on the “unreasonable efforts” exception set forth in the applicable regulations, because there is substantial uncertainty associated with predicting any future adjustments that may be made to the Company’s GAAP financial measures in calculating the non-GAAP financial measures.
Non-GAAP Financial Measures
Adjusted operating expenses, a non-GAAP financial measure, is presented in this press release to provide information that may assist investors in understanding the Company's financial and operating results. The Company believes this non-GAAP financial measure is an important performance indicator because it excludes items that are unrelated to, and may not be indicative of, the Company's core financial and operating results. This non-GAAP financial measure, as calculated, may not necessarily be comparable to similarly titled measures of other companies and may not be an appropriate measure for comparing the performance of other companies relative to the Company. This non-GAAP financial measure is not intended to represent, and should not be considered to be a more meaningful measure than, or an alternative to, measures of operating performance as determined in accordance with GAAP. To the extent the Company utilizes such non-GAAP financial measure in the future, it expects to calculate it using a consistent method from period to period. A reconciliation of adjusted operating expenses to the most directly comparable GAAP financial measure has been provided in the table titled "Non-GAAP to GAAP Reconciliation" attached to this press release.
Conference Call
Sight Sciences' management team will host a conference call today, August 5, 2026, beginning at 1:30 p.m. Pacific Time / 4:30 p.m. Eastern Time. Investors interested in listening to the conference call may do so by accessing a live and archived webcast of the event at www.sightsciences.com, on the Investors page in the News & Events section.
About Sight Sciences
Sight Sciences is an eyecare technology company focused on developing and commercializing innovative and interventional solutions intended to transform care and improve patients’ lives. Using minimally invasive or non-invasive approaches to target the underlying causes of the world’s most prevalent eye diseases, Sight Sciences seeks to create more effective treatment paradigms that enhance patient care and supplant conventional outdated approaches. The Company’s OMNI® Surgical System and OMNI® Edge Surgical System are implant-free, minimally invasive glaucoma surgery technologies indicated in the United States to reduce intraocular pressure in adult patients with primary open-angle glaucoma. The OMNI Surgical System is CE Marked for the catheterization and transluminal viscodilation of Schlemm’s canal and cutting of the trabecular meshwork to reduce intraocular pressure in adult patients with open-angle glaucoma. Glaucoma is the world’s leading cause of irreversible blindness. The SION® Surgical System is a bladeless, manually operated device used in ophthalmic surgical procedures to excise trabecular meshwork. The Company’s TearCare® System is 510(k) cleared in the United States for the application of localized heat therapy in adult patients with evaporative dry eye disease due to meibomian gland disease (MGD), enabling clearance of gland obstructions by physicians to address the leading cause of dry eye disease. Visit www.sightsciences.com for more information.
Sight Sciences, TearCare, and SmartLids are trademarks of Sight Sciences registered in the United States. OMNI, SION, and the Sight Sciences logo are trademarks of Sight Sciences registered in the United States, European Union and other territories. TruSync is a trademark of Sight Sciences.
CPT is a registered trademark of the American Medical Association. Aetna is a registered trademark of Aetna Inc.
© 2026 Sight Sciences. All rights reserved.
Forward-Looking Statements
This press release, together with other statements and information publicly disseminated by the Company, contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and includes this statement for purposes of complying with these safe harbor provisions. Any statements made in this press release or during the earnings call that are not statements of historical fact, including statements about our beliefs and expectations, are forward-looking statements and should be evaluated as such. Forward-looking statements include, but are not limited to, statements concerning the Company’s projected financial results, including revenue and adjusted operating expenses, market acceptance of our products, our ability to achieve our business strategy and objectives, our ability to make interventional eye care the new standard of care, and our ability to create long-term value for our stockholders.
These statements often include words such as "anticipate," "expect," “suggests,” “plan,” “believe,” “intend,” “estimates,” “targets,” “projects,” “should,” “could,” “would,” “may,” “will,” “forecast” and other similar expressions. We base these forward-looking statements on our current expectations, plans and assumptions we have made in light of our experience in the industry, as well as our perceptions of historical trends, current conditions, expected future developments and other factors we believe are appropriate under the circumstances at such time. Although we believe these forward-looking statements are based on reasonable assumptions at the time they are made, you should be aware that many factors could affect our business, results of operations and financial condition, including without limitation changes to reimbursement coverage or payment decisions or reimbursement rates for our products; pricing pressure or changes in market share resulting from the evolving competitive landscape; the impact of tariffs on our products and the medical device industry generally; and disruptions to or increased costs associated with our supply chain, including as a result of having a limited number of suppliers. Should our underlying assumptions prove incorrect, actual results may differ materially from those expressed in the forward-looking statements. These statements are not guarantees of future performance or results. These forward-looking statements are subject to and involve numerous risks, uncertainties and assumptions, including those discussed under the caption “Risk Factors” in our filings with the SEC, as may be updated from time to time in subsequent filings, and you should not place undue reliance on these statements. These cautionary statements are made only as of the date of this press release. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.
Investor contact:
Philip Taylor
Gilmartin Group
415.937.5406
Investor.Relations@Sightsciences.com
Media contact:
pr@SightSciences.com
| SIGHT SCIENCES, INC. Condensed Consolidated Balance Sheets (Unaudited) (in thousands, except share and per share data) | ||||||||
| June 30, | December 31, | |||||||
| 2026 | 2025 | |||||||
| Assets | ||||||||
| Current assets: | ||||||||
| Cash and cash equivalents | $ | 79,753 | $ | 91,965 | ||||
| Accounts receivable, net of allowance for credit losses of | 11,386 | 9,745 | ||||||
| Inventory, net | 5,695 | 7,767 | ||||||
| Prepaid expenses and other current assets | 4,606 | 3,257 | ||||||
| Total current assets | 101,440 | 112,734 | ||||||
| Property and equipment, net | 1,667 | 1,610 | ||||||
| Operating lease right-of-use assets | 1,185 | 438 | ||||||
| Other noncurrent assets | 580 | 518 | ||||||
| Total assets | $ | 104,872 | $ | 115,300 | ||||
| Liabilities and stockholders’ equity | ||||||||
| Current liabilities: | ||||||||
| Accounts payable | $ | 1,898 | $ | 1,343 | ||||
| Accrued compensation | 4,665 | 6,074 | ||||||
| Accrued and other current liabilities | 3,805 | 3,610 | ||||||
| Short-term debt, net | 10,131 | — | ||||||
| Total current liabilities | 20,499 | 11,027 | ||||||
| Long-term debt, net | 30,645 | 40,300 | ||||||
| Other noncurrent liabilities | 834 | 31 | ||||||
| Total liabilities | 51,978 | 51,358 | ||||||
| Commitments and contingencies | ||||||||
| Stockholders’ equity: | ||||||||
| Preferred stock, par value | — | — | ||||||
| Common stock, par value | 55 | 54 | ||||||
| Additional paid-in-capital | 454,988 | 448,611 | ||||||
| Accumulated deficit | (402,149 | ) | (384,723 | ) | ||||
| Total stockholders’ equity | 52,894 | 63,942 | ||||||
| Total liabilities and stockholders’ equity | $ | 104,872 | $ | 115,300 | ||||
| SIGHT SCIENCES, INC. Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) (in thousands, except share and per share data) | ||||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||
| Revenue | $ | 23,388 | $ | 19,564 | $ | 43,086 | $ | 37,072 | ||||||||
| Cost of goods sold | 2,014 | 2,977 | 4,734 | 5,391 | ||||||||||||
| Gross profit | 21,374 | 16,587 | 38,352 | 31,681 | ||||||||||||
| Operating expenses: | ||||||||||||||||
| Research and development | 2,512 | 4,387 | 5,058 | 8,817 | ||||||||||||
| Selling, general and administrative | 22,750 | 23,867 | 49,595 | 48,390 | ||||||||||||
| Total operating expenses | 25,262 | 28,254 | 54,653 | 57,207 | ||||||||||||
| Loss from operations | (3,888 | ) | (11,667 | ) | (16,301 | ) | (25,526 | ) | ||||||||
| Investment income | 678 | 1,026 | 1,419 | 2,174 | ||||||||||||
| Interest expense | (1,290 | ) | (1,284 | ) | (2,557 | ) | (2,547 | ) | ||||||||
| Other income (expense), net | 82 | 24 | 53 | (115 | ) | |||||||||||
| Loss before income taxes | (4,418 | ) | (11,901 | ) | (17,386 | ) | (26,014 | ) | ||||||||
| Provision for income taxes | 28 | 40 | 40 | 81 | ||||||||||||
| Net loss and comprehensive loss | $ | (4,446 | ) | $ | (11,941 | ) | $ | (17,426 | ) | $ | (26,095 | ) | ||||
| Net loss per share attributable to common stockholders, basic and diluted | $ | (0.08 | ) | $ | (0.23 | ) | $ | (0.32 | ) | $ | (0.51 | ) | ||||
| Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted | 54,505,792 | 51,821,773 | 54,225,993 | 51,557,686 | ||||||||||||
| SIGHT SCIENCES, INC. Gross Margin Disaggregation (Unaudited) (in thousands) | ||||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||
| Revenue | ||||||||||||||||
| Interventional Glaucoma | $ | 20,713 | $ | 19,231 | $ | 39,058 | $ | 36,345 | ||||||||
| Interventional Dry Eye | 2,675 | 333 | 4,028 | 727 | ||||||||||||
| Total revenue | 23,388 | 19,564 | 43,086 | 37,072 | ||||||||||||
| Cost of goods sold | ||||||||||||||||
| Interventional Glaucoma | 1,604 | 2,772 | 3,947 | 5,070 | ||||||||||||
| Interventional Dry Eye | 410 | 205 | 787 | 321 | ||||||||||||
| Total cost of goods sold | 2,014 | 2,977 | 4,734 | 5,391 | ||||||||||||
| Gross profit | ||||||||||||||||
| Interventional Glaucoma | 19,109 | 16,459 | 35,111 | 31,275 | ||||||||||||
| Interventional Dry Eye | 2,265 | 128 | 3,241 | 406 | ||||||||||||
| Total gross profit | 21,374 | 16,587 | 38,352 | 31,681 | ||||||||||||
| Gross margin | ||||||||||||||||
| Interventional Glaucoma | 92.3 | % | 85.6 | % | 89.9 | % | 86.1 | % | ||||||||
| Interventional Dry Eye | 84.7 | % | 38.4 | % | 80.5 | % | 55.8 | % | ||||||||
| Total gross margin | 91.4 | % | 84.8 | % | 89.0 | % | 85.5 | % | ||||||||
| SIGHT SCIENCES, INC. GAAP to Non-GAAP Reconciliation (Unaudited) (in thousands) | ||||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||
| Operating Expenses: | ||||||||||||||||
| Total Operating Expenses | $ | 25,262 | $ | 28,254 | $ | 54,653 | $ | 57,207 | ||||||||
| Less: Stock-based Compensation | (2,841 | ) | (3,735 | ) | (5,573 | ) | (7,863 | ) | ||||||||
| Less: Depreciation and Amortization | (94 | ) | (125 | ) | (197 | ) | (274 | ) | ||||||||
| Less: Restructuring Costs | — | — | — | — | ||||||||||||
| Less: Litigation Success Fee | — | — | (5,393 | ) | — | |||||||||||
| Adjusted Operating Expenses(5) | 22,327 | 24,394 | 43,490 | 49,070 | ||||||||||||
5 Please see section titled "Non-GAAP Financial Measures" for additional information.
| SIGHT SCIENCES, INC. Supplemental Financial Measures (Unaudited) | ||||||||
| Three Months Ended June 30, | ||||||||
| 2026 | 2025 | |||||||
| Interventional Glaucoma active customers(6) | 1,214 | 1,174 | ||||||
| Interventional Dry Eye lid treatment units sold(7) | 3,091 | 1,142 | ||||||
| Interventional Dry Eye active customers(8) | 176 | 39 | ||||||
6 “Interventional Glaucoma active customers” means the number of customers who ordered the OMNI Surgical System or the SION Surgical Instrument during the three months ended June 30, 2026 and 2025.
7 “Interventional Dry Eye lid treatment units sold” means the quantity of TearCare SmartLids® sold during the three months ended June 30, 2026 and 2025.
8 “Interventional Dry Eye active customers” means the number of customers who ordered lid treatment units during the three months ended June 30, 2026 and 2025.
