GICS Sector : Healthcare
Sight Sciences, Inc., an ophthalmic medical device company, engages in the development and commercialization of surgical and nonsurgical technologies for the treatment of eye diseases.The company's products include OMNI Surgical System, a therapeutic device used by ophthalmic surgeons to reduce intraocular pressure in adult glaucoma patients; and TearCare System, a wearable eyelid technology for the treatment of dry eye disease (DED) for ophthalmologists and optometrists.It offers its products through sales representatives and distributors to hospitals, medical centers, and eyecare professionals in the United States.
Sight Sciences reported a total revenue of $19.9 million for Q3 2025, a 1% decrease year-over-year, with Surgical Glaucoma revenue increasing by 6% to $19.7 million, driven by the adoption of OMNI Surgical Glaucoma technology. The company's gross margin was 86%, up from 84% in the same period last year. The actual EPS was -$0.16, beating estimates of -$0.26. The company's expense management was also notable, with adjusted operating expenses expected to decrease by 9% to 11% for the full year 2025.
Publication Date: Nov -26
Sight Sciences raised its revenue guidance for the full year 2025 to $76 million to $78 million, up from the previous guidance of $72 million to $76 million. The company expects Dry Eye revenue to be between $0.5 million to $1 million in Q4 2025. Analysts estimate next year's revenue growth to be around 12.1%. The company's strong performance in Surgical Glaucoma and the expected ramp-up of TearCare in Dry Eye are likely to drive this growth.
The company made significant progress in its Dry Eye business, with two Medicare Administrative Contractors (MACs), Novitas and First Coast, establishing jurisdiction-wide pricing for CPT code 0563T, which describes the procedure performed with the TearCare system. As Paul Badawi stated, "Sight Sciences has two clinically proven interventional technologies for these major anterior segment diseases." This development paves the way for Sight Sciences to pioneer the reimbursed interventional dry eye treatment market.
With a P/S Ratio of 5.63 and an EV/EBITDA of -7.86, the market seems to be pricing in significant growth expectations for Sight Sciences. The company's ROE and ROIC are currently negative, at -61.59% and -43.48%, respectively, indicating that the company is still in an investment phase. However, with the expected growth in revenue and the advancements in the Dry Eye business, these metrics are likely to improve in the future.
Sight Sciences is well-positioned to capture growth in 2026, driven by the expected ramp-up of TearCare in Dry Eye and the continued adoption of OMNI Surgical Glaucoma technology in Surgical Glaucoma. The company's focus on expense management and its efforts to expand its customer base and drive utilization of its technology are likely to contribute to its future success.
Sight Sciences (SGHT) Upgraded to Buy: Here's What You Should Know
Nov -11
Sight Sciences, Inc. (SGHT) Q3 2025 Earnings Call Transcript
Nov -07
Sight Sciences (SGHT) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
Nov -07
Sight Sciences, Inc. (SGHT) Reports Q3 Loss, Tops Revenue Estimates
Nov -07
Sight Sciences Reports Third Quarter 2025 Financial Results and Raises Full Year 2025 Revenue Guidance
Nov -06
Sight Sciences Appoints Ali Bauerlein as Chief Operating Officer and Jim Rodberg as Chief Financial Officer
Nov -06
Sight Sciences to Present at Two Upcoming Investor Conferences
Nov -04
Sight Sciences to Report Third Quarter 2025 Financial Results on November 6, 2025
Oct -23
Surgical Glaucoma from Sight Sciences, Inc. growth driven by increasing prevalence of glaucoma, aging population, and rising demand for minimally invasive procedures. Advancements in micro-invasive glaucoma surgery (MIGS) technology, expanding reimbursement coverage, and growing adoption in emerging markets also contribute to the 10.0% growth rate.
Sight Sciences, Inc.'s Dry Eye segment growth is driven by increasing prevalence of dry eye disease, growing demand for minimally invasive treatments, and expanding adoption of OMNI Surgical System. Additionally, rising awareness of dry eye as a chronic condition, increasing healthcare expenditure, and strategic partnerships are contributing to the 10.0% growth rate.
A microcatheter-based surgical system designed for canaloplasty and viscodilation of Schlemm's canal in the eye.
A 360-degree trabeculotomy system for the treatment of open-angle glaucoma.
A surgical system for the treatment of glaucoma, featuring a proprietary, patented micro-invasive glaucoma surgery (MIGS) device.
The threat of substitutes for Sight Sciences, Inc. is moderate due to the availability of alternative technologies and products in the market.
The bargaining power of customers is high due to the presence of large and established customers who can negotiate prices and terms.
The bargaining power of suppliers is low due to the presence of multiple suppliers and the company's ability to negotiate prices.
The threat of new entrants is moderate due to the presence of barriers to entry, such as high capital requirements and regulatory hurdles.
The intensity of rivalry is high due to the presence of established competitors and the need to differentiate products and services.
| Value | |
|---|---|
| Debt Weight | 22.30% |
| Debt Cost | 15.24% |
| Equity Weight | 77.70% |
| Equity Cost | 17.49% |
| WACC | 16.99% |
| Leverage | 28.70% |
Value: 6.6
Growth: 5.4
Quality: 2.9
Yield: 0.0
Momentum: 10.0
Volatility: 2.3
1-Year Total Return ->
Value: 6.6
Growth: 1.7
Quality: 4.6
Yield: 0.0
Momentum: 10.0
Volatility: 4.3
1-Year Total Return ->
Value: 6.0
Growth: 5.6
Quality: 2.5
Yield: 0.0
Momentum: 7.0
Volatility: 1.0
1-Year Total Return ->
Value: 8.8
Growth: 1.4
Quality: 4.5
Yield: 0.0
Momentum: 4.0
Volatility: 2.7
1-Year Total Return ->
Value: 7.0
Growth: 5.8
Quality: 4.1
Yield: 0.0
Momentum: 1.0
Volatility: 1.0
1-Year Total Return ->
Value: 10.0
Growth: 1.6
Quality: 5.2
Yield: 0.0
Momentum: 0.0
Volatility: 0.0
1-Year Total Return ->