Sight Sciences, Inc. (SGHT) Q2 2025 Earnings Call Transcript
Total Revenue $19.6 million, an 8% decrease year-over-year. The decline was attributed to a decrease in Surgical Glaucoma and Dry Eye revenue.
Surgical Glaucoma Revenue $19.2 million, a 5% decrease year-over-year. The decline was primarily due to an 11% decrease in account utilization, impacted by Medicare LCD coverage restrictions, partially offset by a higher number of ordering accounts and higher average selling prices.
Dry Eye Revenue $0.3 million, a decrease from $1.1 million year-over-year. The decline was due to fewer SmartLids sales, as the company focused on achieving reimbursed market access for TearCare procedures.
Gross Margin 85%, down slightly from 86% year-over-year. Surgical Glaucoma gross margin was 86% (down from 88%) due to higher overhead costs, tariff costs, and product sales mix, partially offset by higher average selling prices. Dry Eye gross margin was 38% (down from 47%) due to product sales mix and higher overhead costs.
Operating Expenses $28.3 million, a 9% decrease year-over-year, primarily due to lower legal fees. Adjusted operating expenses were $24.4 million, an 8% decrease year-over-year.
Net Loss $11.9 million or $0.23 per share, compared to a net loss of $12.3 million or $0.25 per share year-over-year. The improvement was due to reduced operating expenses.
Cash and Cash Equivalents $101.5 million, with $7.3 million cash used in the quarter, compared to $9.1 million cash used in the prior year.
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UBS Raises Sight Sciences Price Target to $12, Boosting Buy Rating
- Price Target Increase: UBS raised its price target for Sight Sciences from $7 to $12 while maintaining a Buy rating, reflecting increased market confidence in its Dry Eye Solution and potentially driving stock price appreciation.
- New Medicare Fee Schedule: Medicare Administrative Contractors Novitas and First Coast Service Option established a $1,140 fee for TearCare, marking a critical strategic milestone that significantly enhances market access for Sight Sciences, expected to accelerate TearCare utilization.
- Revenue Growth Potential: Analysts indicate that the new fee schedule provides a clearer pathway for revenue growth, with expectations of significant revenue increases by 2026, further enhancing the company's gross margins.
- Strategic Implications: The establishment of this fee schedule not only strengthens Sight Sciences' competitive position in the dry eye market but also lays the groundwork for future business expansion and market share growth.
Sight Sciences (SGHT) Receives Upgrade to Buy: Key Information You Need to Know
Zacks Rank Upgrade: Sight Sciences, Inc. (SGHT) has been upgraded to a Zacks Rank #2 (Buy) due to a positive trend in earnings estimates, indicating potential for stock price increase.
Earnings Estimate Revisions: The Zacks Consensus Estimate for Sight Sciences has risen by 14.4% over the past three months, reflecting improved earnings outlook and business performance.
Correlation with Stock Movements: There is a strong correlation between earnings estimate revisions and near-term stock price movements, making the Zacks rating system a valuable tool for investors.
Top 20% Ranking: The upgrade places Sight Sciences in the top 20% of Zacks-covered stocks, suggesting it is well-positioned for market-beating returns in the near future.
Sight Sciences (SGHT) Q3 Earnings: Analyzing Key Metrics Against Expectations
Quarterly Performance: Sight Sciences, Inc. (SGHT) reported $19.91 million in revenue for Q3 2025, a slight decline of 1.3% year-over-year, with an EPS of -$0.16, improving from -$0.22 a year ago.
Earnings Surprises: The company's revenue exceeded the Zacks Consensus Estimate of $17.16 million by 15.98%, and the EPS also beat expectations by 38.46%, compared to a consensus estimate of -$0.26.
Investor Insights: Key metrics are essential for understanding a company's performance beyond headline numbers, helping investors project stock price movements based on year-over-year comparisons and analyst estimates.
Stock Recommendations: Zacks Investment Research highlights a satellite-based communications firm as a top pick, with potential for significant revenue growth in the trillion-dollar space industry, alongside other stocks expected to perform well in the coming months.
UnitedHealthcare Includes Sight Sciences OMNI System in Covered Glaucoma Surgery Options
UnitedHealthcare Policy Update: UnitedHealthcare has expanded its coverage to include goniotomy, trabeculotomy, canaloplasty, and combined procedures for adults with mild to moderate open-angle glaucoma and cataracts, effective October 1, 2025.
Sight Sciences Financial Performance: Sight Sciences reported a second-quarter loss of 23 cents per share, better than expected, with sales of $19.56 million, leading to an increase in fiscal 2025 sales guidance to $72 million-$76 million.
Needham Maintains Hold Rating on Sight Sciences
Real-time Intelligence: Benzinga Pro offers the fastest news alerts for traders to stay updated on market movements.
Exclusive Content: The platform provides exclusive stories and insights generated by Benzinga reporters.
Community Engagement: Over 10,000 serious traders are part of the Benzinga Pro community, sharing strategies and intelligence.
Market Winning Tool: Traders utilize Benzinga Pro's resources to enhance their trading success in the stock market.
Insights from 4 Analyst Ratings on Sight Sciences
Analyst Ratings Overview: Sight Sciences has received mixed ratings from four analysts in the past three months, with one bullish rating and three indifferent, reflecting a shift in sentiment over time.
Price Target Insights: Analysts have set an average 12-month price target of $4.38 for Sight Sciences, indicating a 33.94% increase from the previous target of $3.27, with estimates ranging from $4.00 to $5.00.
Financial Performance Indicators: The company is experiencing a decline in revenue growth of approximately -8.45% over the last three months, while maintaining a strong net margin of -61.04% and a return on equity (ROE) of -16.18%.
Company Background: Sight Sciences Inc focuses on developing ophthalmic medical devices, particularly for treating eye diseases, with key products including the OMNI Surgical System and TearCare System, deriving significant revenue from its Surgical Glaucoma segment.
UBS Raises Sight Sciences Price Target to $12, Boosting Buy Rating
- Price Target Increase: UBS raised its price target for Sight Sciences from $7 to $12 while maintaining a Buy rating, reflecting increased market confidence in its Dry Eye Solution and potentially driving stock price appreciation.
- New Medicare Fee Schedule: Medicare Administrative Contractors Novitas and First Coast Service Option established a $1,140 fee for TearCare, marking a critical strategic milestone that significantly enhances market access for Sight Sciences, expected to accelerate TearCare utilization.
- Revenue Growth Potential: Analysts indicate that the new fee schedule provides a clearer pathway for revenue growth, with expectations of significant revenue increases by 2026, further enhancing the company's gross margins.
- Strategic Implications: The establishment of this fee schedule not only strengthens Sight Sciences' competitive position in the dry eye market but also lays the groundwork for future business expansion and market share growth.
Sight Sciences (SGHT) Receives Upgrade to Buy: Key Information You Need to Know
Zacks Rank Upgrade: Sight Sciences, Inc. (SGHT) has been upgraded to a Zacks Rank #2 (Buy) due to a positive trend in earnings estimates, indicating potential for stock price increase.
Earnings Estimate Revisions: The Zacks Consensus Estimate for Sight Sciences has risen by 14.4% over the past three months, reflecting improved earnings outlook and business performance.
Correlation with Stock Movements: There is a strong correlation between earnings estimate revisions and near-term stock price movements, making the Zacks rating system a valuable tool for investors.
Top 20% Ranking: The upgrade places Sight Sciences in the top 20% of Zacks-covered stocks, suggesting it is well-positioned for market-beating returns in the near future.
Sight Sciences (SGHT) Q3 Earnings: Analyzing Key Metrics Against Expectations
Quarterly Performance: Sight Sciences, Inc. (SGHT) reported $19.91 million in revenue for Q3 2025, a slight decline of 1.3% year-over-year, with an EPS of -$0.16, improving from -$0.22 a year ago.
Earnings Surprises: The company's revenue exceeded the Zacks Consensus Estimate of $17.16 million by 15.98%, and the EPS also beat expectations by 38.46%, compared to a consensus estimate of -$0.26.
Investor Insights: Key metrics are essential for understanding a company's performance beyond headline numbers, helping investors project stock price movements based on year-over-year comparisons and analyst estimates.
Stock Recommendations: Zacks Investment Research highlights a satellite-based communications firm as a top pick, with potential for significant revenue growth in the trillion-dollar space industry, alongside other stocks expected to perform well in the coming months.
UnitedHealthcare Includes Sight Sciences OMNI System in Covered Glaucoma Surgery Options
UnitedHealthcare Policy Update: UnitedHealthcare has expanded its coverage to include goniotomy, trabeculotomy, canaloplasty, and combined procedures for adults with mild to moderate open-angle glaucoma and cataracts, effective October 1, 2025.
Sight Sciences Financial Performance: Sight Sciences reported a second-quarter loss of 23 cents per share, better than expected, with sales of $19.56 million, leading to an increase in fiscal 2025 sales guidance to $72 million-$76 million.
Needham Maintains Hold Rating on Sight Sciences
Real-time Intelligence: Benzinga Pro offers the fastest news alerts for traders to stay updated on market movements.
Exclusive Content: The platform provides exclusive stories and insights generated by Benzinga reporters.
Community Engagement: Over 10,000 serious traders are part of the Benzinga Pro community, sharing strategies and intelligence.
Market Winning Tool: Traders utilize Benzinga Pro's resources to enhance their trading success in the stock market.
Insights from 4 Analyst Ratings on Sight Sciences
Analyst Ratings Overview: Sight Sciences has received mixed ratings from four analysts in the past three months, with one bullish rating and three indifferent, reflecting a shift in sentiment over time.
Price Target Insights: Analysts have set an average 12-month price target of $4.38 for Sight Sciences, indicating a 33.94% increase from the previous target of $3.27, with estimates ranging from $4.00 to $5.00.
Financial Performance Indicators: The company is experiencing a decline in revenue growth of approximately -8.45% over the last three months, while maintaining a strong net margin of -61.04% and a return on equity (ROE) of -16.18%.
Company Background: Sight Sciences Inc focuses on developing ophthalmic medical devices, particularly for treating eye diseases, with key products including the OMNI Surgical System and TearCare System, deriving significant revenue from its Surgical Glaucoma segment.
