Sight Sciences Reports Third Quarter 2026 Financial Results and Raises Full-Year 2026 Revenue Guidance
Dry eye revenue guidance increased to approximately $12 million, compared with the previous $9 million to $11 million range.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Sight Sciences (Nasdaq: SGHT) reported third-quarter 2026 revenue of $24.9 million and raised its full-year revenue guidance. Revenue rose 25% year over year. Interventional Glaucoma revenue increased 7% to $21.0 million; Interventional Dry Eye revenue reached $3.9 million, versus $0.2 million a year earlier and $2.7 million in the second quarter. Net loss narrowed to $6.8 million, or $0.12 per share, from $8.2 million, or $0.16 per share.
The company now expects 2026 revenue of $92 million to $93 million, up from $88 million to $92 million, and maintained adjusted operating expense guidance of $92 million to $94 million. Quarterly gross margin was 85.9%, versus 86.4% a year earlier. Cash usage fell 74% to $2.4 million, leaving $77.4 million in cash and equivalents at September 30; debt principal remained $40.0 million. Sight Sciences also launched its OMNI Ultra Surgical System.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Hollow bars mark forward-looking points. How the balance works
Positive
- Major point. Forward-looking: it has not happened yet and may not happen.Full-year 2026 revenue guidance raised to $92 million–$93 million, representing 19%–20% growth, from $88 million–$92 million.
- Moderate pointThird-quarter revenue increased 25% year over year to $24.9 million.
- Moderate pointInterventional Dry Eye third-quarter revenue reached $3.9 million, versus $0.2 million year over year and $2.7 million sequentially.
- Moderate pointInterventional Dry Eye third-quarter gross margin rose to 79.0% from 37.8% a year earlier.
- Moderate pointThird-quarter cash usage decreased 74% to $2.4 million from $9.1 million a year earlier.
- Moderate pointNine-month revenue increased to $68.010 million from $56.978 million a year earlier.
- Moderate pointNine-month gross margin increased to 87.9% from 85.8% a year earlier.
- Moderate pointNine-month net loss narrowed to $24.236 million, or $0.44 per share, from $34.264 million, or $0.66.
11 minor points
- Minor pointInterventional Glaucoma third-quarter revenue rose 7% year over year to $21.0 million.
- Minor pointThird-quarter gross profit increased to $21.4 million from $17.2 million a year earlier.
- Minor pointInterventional Glaucoma third-quarter gross margin increased to 87.2% from 86.9% a year earlier.
- Minor pointThird-quarter net loss narrowed to $6.8 million, or $0.12 per share, from $8.2 million, or $0.16.
- Minor pointThird-quarter operating loss narrowed to $6.128 million from $7.905 million a year earlier.
- Minor pointThird-quarter research and development expenses decreased 19% to $2.7 million year over year.
- Minor point. Forward-looking: it has not happened yet and may not happen.2026 dry eye revenue guidance increased to approximately $12 million from $9 million–$11 million; 2025 revenue was $1.6 million.
- Minor point. Forward-looking: it has not happened yet and may not happen.2026 glaucoma revenue guidance calls for $80 million–$81 million, representing 6%–7% growth.
- Minor pointThird-quarter glaucoma active customers increased to 1,253 from 1,197 a year earlier.
- Minor pointThird-quarter dry eye active customers increased to 222 from 50 a year earlier.
- Minor pointThird-quarter dry eye lid treatment units sold increased to 4,581 from 271 a year earlier.
Negative
- Moderate pointThird-quarter selling, general and administrative expenses increased 14% to $24.8 million year over year.
- Moderate pointThird-quarter adjusted operating expenses increased 21% to $24.0 million year over year.
- Moderate pointNine-month results included a $5.393 million litigation success fee. 1% of market cap
- Minor pointThird-quarter gross margin declined to 85.9% from 86.4% a year earlier.
- Minor point. Forward-looking: it has not happened yet and may not happen.2026 adjusted operating expense guidance remains $92 million–$94 million, representing a 5%–7% increase over 2025.
3 minor points
- Minor pointCash and equivalents fell to $77.4 million at September 30, 2026, from $79.8 million at June 30.
- Minor pointThird-quarter investment income declined to $692,000 from $965,000 a year earlier.
- Minor pointCommon shares outstanding increased to 55,219,266 at September 30, 2026, from 53,493,711 at December 31, 2025.
News Explained
The revised 2026 outlook assigns approximately $12 million to dry eye, up from the previous $9 million to $11 million range.
At
Key Figures
- Q3 revenue
- $24.9 million; up 25%
- Third quarter 2026 versus third quarter 2025
- Interventional Glaucoma revenue
- $21.0 million; up 7%
- Third quarter 2026 versus third quarter 2025
- Interventional Dry Eye revenue
- $3.9 million versus $0.2 million
- Third quarter 2026 versus third quarter 2025
- Cash usage
- $2.4 million; down 74%
- Third quarter 2026 versus third quarter 2025
- FY2026 revenue guidance
- $92 million to $93 million
- Raised from prior guidance of $88 million to $92 million
- FY2026 revenue growth guidance
- 19% to 20%
- Year-over-year
- Interventional Glaucoma revenue guidance
- $80 million to $81 million
- FY2026 guidance; growth of 6% to 7%
- Adjusted operating expenses guidance
- $92 million to $94 million
- FY2026 guidance maintained
Previous Earnings Reports
-
Raised 2026 revenue guidance to $88–$92 million, the prior range cited in this report.
-
Raised 2026 revenue guidance to $83.0–$89.0 million before subsequent increases.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
gaap financial
non-gaap financial measure financial
510(k) cleared regulatory
ce marked regulatory
meibomian gland dysfunction medical
ab interno canaloplasty medical
AI-generated analysis. How Rhea-AI works. Not financial advice.
MENLO PARK, Calif., Nov. 04, 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 third quarter ended September 30, 2026.
Recent Financial and Business Highlights
- Record revenue of
$24.9 million in the third quarter of 2026, a25% increase compared to$19.9 million in the third quarter of 2025. - Interventional Glaucoma (IG) revenue of
$21.0 million , a7% increase compared to$19.7 million in the third quarter of 2025. - Record Interventional Dry Eye (IDE) revenue of
$3.9 million , a significant increase compared to$0.2 million in the third quarter of 2025, and a45% increase compared to$2.7 million in the second quarter of 2026. - Cash and cash equivalents totaled
$77.4 million as of September 30, 2026. Cash usage was$2.4 million in the third quarter of 2026, down74% compared to the same period in the prior year. - Launched its OMNI® Ultra Surgical System (OMNI Ultra), an expansion of its pioneering ab interno canaloplasty platform, at the American Academy of Ophthalmology (AAO) annual meeting.
“We delivered another strong quarter with
Third Quarter 2026 Financial Results
Revenue for the third quarter of 2026 was
Gross profit for the third 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 maintained its full year 2026 adjusted operating expenses1,3 guidance to range from
1 “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 and organizational transition costs, and other one-time costs.
2 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.
3 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, November 4, 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 is an implant-free, minimally invasive glaucoma surgery technology 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 thermal-activated gland expression therapy that improves meibomian gland function in adult patients with evaporative dry eye disease due to meibomian gland dysfunction (MGD), when used in conjunction with manual expression of the meibomian glands, 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 and TearCare are trademarks of Sight Sciences registered in the United States. OMNI and SION, and the Sight Sciences logo are trademarks of Sight Sciences registered in the United States, European Union and other territories.
© 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 Q4 and full year 2026 financial guidance; the strength of our interventional eye care platform and the significant opportunity ahead; our goal to expand the adoption of our technologies and advancing interventional eye care for the customers and patients we serve; 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) | ||||||||
| September 30, | December 31, | |||||||
| 2026 | 2025 | |||||||
| Assets | ||||||||
| Current assets: | ||||||||
| Cash and cash equivalents | $ | 77,402 | $ | 91,965 | ||||
| Accounts receivable, net of allowance for credit losses of | 13,380 | 9,745 | ||||||
| Inventory, net | 6,502 | 7,767 | ||||||
| Prepaid expenses and other current assets | 4,186 | 3,257 | ||||||
| Total current assets | 101,470 | 112,734 | ||||||
| Property and equipment, net | 1,711 | 1,610 | ||||||
| Operating lease right-of-use assets | 1,077 | 438 | ||||||
| Other noncurrent assets | 690 | 518 | ||||||
| Total assets | $ | 104,948 | $ | 115,300 | ||||
| Liabilities and stockholders’ equity | ||||||||
| Current liabilities: | ||||||||
| Accounts payable | $ | 2,782 | $ | 1,343 | ||||
| Accrued compensation | 6,483 | 6,074 | ||||||
| Accrued and other current liabilities | 4,809 | 3,610 | ||||||
| Short-term debt, net | 6,063 | — | ||||||
| Total current liabilities | 20,137 | 11,027 | ||||||
| Long-term debt, net | 34,966 | 40,300 | ||||||
| Other noncurrent liabilities | 708 | 31 | ||||||
| Total liabilities | 55,811 | 51,358 | ||||||
| Commitments and contingencies | ||||||||
| Stockholders’ equity: | ||||||||
| Preferred stock, par value | — | — | ||||||
| Common stock, par value | 55 | 54 | ||||||
| Additional paid-in-capital | 458,041 | 448,611 | ||||||
| Accumulated deficit | (408,959 | ) | (384,723 | ) | ||||
| Total stockholders’ equity | 49,137 | 63,942 | ||||||
| Total liabilities and stockholders’ equity | $ | 104,948 | $ | 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 September 30, | Nine Months Ended September 30, | |||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||
| Revenue | $ | 24,923 | $ | 19,906 | $ | 68,010 | $ | 56,978 | ||||||||
| Cost of goods sold | 3,503 | 2,709 | 8,237 | 8,100 | ||||||||||||
| Gross profit | 21,420 | 17,197 | 59,773 | 48,878 | ||||||||||||
| Operating expenses: | ||||||||||||||||
| Research and development | 2,706 | 3,352 | 7,763 | 12,169 | ||||||||||||
| Selling, general and administrative | 24,842 | 21,750 | 74,438 | 70,139 | ||||||||||||
| Total operating expenses | 27,548 | 25,102 | 82,201 | 82,308 | ||||||||||||
| Loss from operations | (6,128 | ) | (7,905 | ) | (22,428 | ) | (33,430 | ) | ||||||||
| Investment income | 692 | 965 | 2,111 | 3,139 | ||||||||||||
| Interest expense | (1,312 | ) | (1,306 | ) | (3,869 | ) | (3,853 | ) | ||||||||
| Other income (expense), net | (51 | ) | (2 | ) | 1 | (118 | ) | |||||||||
| Loss before income taxes | (6,799 | ) | (8,248 | ) | (24,185 | ) | (34,262 | ) | ||||||||
| Provision (benefit) for income taxes | 11 | (79 | ) | 51 | 2 | |||||||||||
| Net loss and comprehensive loss | $ | (6,810 | ) | $ | (8,169 | ) | $ | (24,236 | ) | $ | (34,264 | ) | ||||
| Net loss per share attributable to common stockholders, basic and diluted | $ | (0.12 | ) | $ | (0.16 | ) | $ | (0.44 | ) | $ | (0.66 | ) | ||||
| Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted | 55,126,312 | 52,377,805 | 54,529,397 | 51,834,063 | ||||||||||||
| SIGHT SCIENCES, INC. Gross Margin Disaggregation (Unaudited) (in thousands) | |||||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||
| Revenue | |||||||||||||||||
| Interventional Glaucoma | $ | 21,046 | $ | 19,718 | $ | 60,105 | $ | 56,063 | |||||||||
| Interventional Dry Eye | 3,877 | 188 | 7,905 | 915 | |||||||||||||
| Total revenue | 24,923 | 19,906 | 68,010 | 56,978 | |||||||||||||
| Cost of goods sold | |||||||||||||||||
| Interventional Glaucoma | 2,688 | 2,592 | 6,634 | 7,662 | |||||||||||||
| Interventional Dry Eye | 815 | 117 | 1,603 | 438 | |||||||||||||
| Total cost of goods sold | 3,503 | 2,709 | 8,237 | 8,100 | |||||||||||||
| Gross profit | |||||||||||||||||
| Interventional Glaucoma | 18,358 | 17,126 | 53,471 | 48,401 | |||||||||||||
| Interventional Dry Eye | 3,062 | 71 | 6,302 | 477 | |||||||||||||
| Total gross profit | 21,420 | 17,197 | 59,773 | 48,878 | |||||||||||||
| Gross margin | |||||||||||||||||
| Interventional Glaucoma | 87.2 | % | 86.9 | % | 89.0 | % | 86.3 | % | |||||||||
| Interventional Dry Eye | 79.0 | % | 37.8 | % | 79.7 | % | 52.1 | % | |||||||||
| Total gross margin | 85.9 | % | 86.4 | % | 87.9 | % | 85.8 | % | |||||||||
| SIGHT SCIENCES, INC. GAAP to Non-GAAP Reconciliation (Unaudited) (in thousands) | |||||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||
| Operating Expenses: | |||||||||||||||||
| Total Operating Expenses | $ | 27,548 | $ | 25,102 | $ | 82,201 | $ | 82,308 | |||||||||
| Less: Stock-based Compensation | (2,810 | ) | (2,382 | ) | (8,382 | ) | (10,245 | ) | |||||||||
| Less: Depreciation and Amortization | (110 | ) | (105 | ) | (307 | ) | (379 | ) | |||||||||
| Less: Restructuring and organizational transition costs | (637 | ) | (2,803 | ) | (637 | ) | (2,803 | ) | |||||||||
| Less: Litigation Success Fee | — | — | (5,393 | ) | — | ||||||||||||
| Adjusted Operating Expenses(1) | 23,991 | 19,812 | 67,482 | 68,881 | |||||||||||||
1 Please see section titled "Non-GAAP Financial Measures" for additional information.
| SIGHT SCIENCES, INC. Supplemental Financial Measures (Unaudited) | ||||||||
| Three Months Ended September 30, | ||||||||
| 2026 | 2025 | |||||||
| Interventional Glaucoma active customers(1) | 1,253 | 1,197 | ||||||
| Interventional Dry Eye lid treatment units sold(2) | 4,581 | 271 | ||||||
| Interventional Dry Eye active customers(3) | 222 | 50 | ||||||
1 “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 September 30, 2026 and 2025.
2 “Interventional Dry Eye lid treatment units sold” means the quantity of TearCare SmartLids® sold during the three months ended September 30, 2026 and 2025.
3 “Interventional Dry Eye active customers” means the number of customers who ordered lid treatment units during the three months ended September 30, 2026 and 2025.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What is Sight Sciences' updated 2026 revenue guidance?
Sight Sciences expects $92 million to $93 million in 2026 revenue, representing 19% to 20% year-over-year growth, versus its previous $88 million to $92 million range. The outlook includes glaucoma revenue of $80 million to $81 million and dry eye revenue of approximately $12 million.
How did Sight Sciences perform in the third quarter of 2026?
Sight Sciences reported $24.9 million in revenue, up 25% year over year, and a net loss of $6.8 million, or $0.12 per share. The year-earlier net loss was $8.2 million, or $0.16 per share. Quarterly cash usage decreased 74% to $2.4 million.
What does Sight Sciences exclude from adjusted operating expenses?
Sight Sciences calculates adjusted operating expenses by excluding stock-based compensation, depreciation and amortization, restructuring and organizational transition costs, and other one-time costs from operating expenses. This measure is not prepared under generally accepted accounting principles. Third-quarter adjusted operating expenses were $24.0 million, compared with $27.5 million in total operating expenses.
How does Sight Sciences define active glaucoma customers?
Active glaucoma customers are customers who ordered the OMNI Surgical System or SION Surgical Instrument during the quarter. Sight Sciences counted 1,253 such customers in the three months ended September 30, 2026, compared with 1,197 in the corresponding 2025 period.