Sight Sciences 2025 Q2 Earnings Slight Improvement in Losses Amid Revenue Decline

Sight Sciences (SGHT) reported its fiscal 2025 Q2 earnings on Aug 7, 2025. The company slightly beat expectations by narrowing its losses year-over-year. Despite a year-over-year revenue decline, Sight Sciences reaffirmed its adjusted operating expense guidance and raised its full-year 2025 revenue outlook, signaling cautious optimism for the remainder of the year.

Revenue
Total revenue for Sight Sciences in Q2 2025 fell by 8.5% to $19.56 million compared to $21.37 million in the same period of the prior year. This decline was attributed to ongoing challenges, particularly Medicare coverage restrictions affecting business performance during the quarter.

Earnings/Net Income
The company improved its net loss in Q2 2025, narrowing it to $-11.94 million, or a loss of $0.23 per share, from $-12.33 million, or $0.25 per share, in the prior-year period. This represents an 8.0% reduction in per-share losses and a 3.1% overall improvement in net losses, although Sight Sciences remains in a multi-year period of financial losses.

The company’s earnings performance shows a modest improvement, with a reduction in losses year-over-year, though the continued net loss reflects ongoing operational challenges.

Price Action
Sight Sciences’ stock price declined by 4.83% in the latest trading day but showed some recovery over the full trading week, rising 6.61%. Month-to-date, the stock gained a modest 0.14%.

Post-Earnings Price Action Review
Following the release of Q2 earnings, a strategy of buying Sight Sciences shares after a quarter of sequential revenue growth and holding for 30 days has proven unsuccessful over the past three years. The approach generated a -64.27% return, significantly underperforming the benchmark’s 51.69% return. This resulted in an excess return of -115.96% and a compound annual growth rate of -29.40%, highlighting the persistent difficulties investors face when attempting to profit from the stock in the short term.

CEO Commentary
Paul Badawi, CEO of Sight Sciences, emphasized the company’s strong execution and growing momentum in key product areas. He highlighted sequential growth in surgical glaucoma ordering accounts and procedural utilization, along with the company’s leadership position in implant-free MIGS. Badawi expressed confidence in Sight Sciences’ long-term value proposition, noting the company’s commitment to advancing care standards for glaucoma and dry eye disease as it enters the second half of 2025.

Guidance
Sight Sciences has raised its full-year 2025 revenue guidance and reaffirmed its adjusted operating expense guidance. The company is projecting continued momentum, particularly in surgical glaucoma, while recognizing the impact of Medicare coverage restrictions in Q2. Although no specific numeric targets were provided, management is optimistic about improved performance in the back half of the year.

Additional News
Over the past three weeks from Aug 7, 2025, Sight Sciences did not announce any major mergers and acquisitions, executive changes, or dividend/buyback plans. The company remained focused on its core operations and strategic positioning in the ophthalmic device market. Notably, Sight Sciences reinforced its commitment to innovation and operational efficiency in response to ongoing market challenges. While no external capital events or executive reshuffles were reported, the company maintained consistent messaging around its market leadership in implant-free MIGS and its commitment to long-term growth through improved patient outcomes.