Sight Sciences Reports Q2 EPS, Revenue Above Consensus, Glaucoma Ordering Accounts Reach New High

Sight Sciences reported Q2 EPS of 23c, beating consensus estimates of 28c. Revenue was $19.56M, exceeding expectations of $18.18M. Surgical Glaucoma revenue reached $19.23M, while Dry Eye revenue was $330K. The company's ordering accounts increased to an all-time high of 1,174, marking a positive trend in the market.

Sight Sciences, Inc. (SGHT) reported its Q2 2025 earnings, beating revenue expectations with $19.56 million, compared to the forecasted $18.18 million [1]. The company also reported a narrower-than-expected loss per share of $0.23 against a forecasted loss of $0.26. Despite this positive earnings surprise, Sight Sciences’ stock fell 3.53% to $3.55 in after-hours trading. Key Takeaways Sight Sciences exceeded revenue expectations by 7.81%. The company reported a smaller-than-expected loss per share. Stock declined by 3.53% in after-hours trading. Revenue from the dry eye segment saw a significant decrease. The company revised its full-year revenue guidance upwards. Company Performance Sight Sciences’ performance in Q2 2025 showcased resilience despite challenges in the dry eye segment. The company reported a total revenue of $19.6 million, marking an 8% decrease from the previous year. However, the surgical glaucoma segment, which remains a core focus, generated $19.2 million, down 5% year-over-year. The dry eye segment’s revenue dropped significantly to $300,000 from $1.1 million in 2024, highlighting ongoing challenges in this area. InvestingPro data reveals the company maintains strong financial health with a current ratio of 10.47, indicating robust liquidity to support operations and growth initiatives. Get access to 8 more exclusive InvestingPro Tips and comprehensive analysis through the Pro Research Report. Financial Highlights Revenue: $19.6 million (8% decrease YoY) Earnings per share: -$0.23 (narrower than expected) Gross margin: 85% (slightly down from 86%) Net loss: $11.9 million Cash and equivalents: $101.5 million Debt: $40 million Earnings vs. Forecast Sight Sciences reported a loss per share of $0.23, beating the forecasted loss of $0.26 by 11.54%. Revenue came in at $19.6 million, surpassing expectations by 7.81%. This performance indicates a positive surprise relative to analyst forecasts, contributing to a stronger-than-anticipated financial position for the quarter. Market Reaction Despite the earnings beat, Sight Sciences’ stock declined by 3.53% to $3.55 in after-hours trading. This movement reflects a cautious investor sentiment, possibly influenced by broader market conditions or sector-specific challenges. The stock remains well below its 52-week high of $7.05, indicating room for recovery as market conditions improve. InvestingPro analysis shows the company holds more cash than debt on its balance sheet, with a beta of 2.44 indicating higher volatility compared to the market. The company’s financial health score is rated as "GOOD" by InvestingPro’s comprehensive evaluation system. Outlook & Guidance Sight Sciences raised its full-year 2025 revenue guidance to $72-76 million, reflecting confidence in its strategic initiatives and product launches. The company reaffirmed its adjusted operating expenses guidance of $101-105 million and expects a mid-single-digit decline in surgical glaucoma revenue for the year. Looking ahead, the company anticipates a return to growth in the MIGS market by 2026. Executive Commentary CEO Paul Badawi emphasized the potential of the Tier Care technology, stating, "We believe Tier Care can be a catalyst to drive growth in the robust dry eye opportunity." He also expressed optimism about the MIGS market, noting, "We know that the MIGS market in terms of devices used will get back to growth in 2026." CFO Hallie Bauerlein highlighted the sales team’s performance, saying, "We are seeing a strong performance from the sales team." Risks and Challenges Declining dry eye revenue: The significant decrease in this segment poses a challenge for future growth. Market transition: Changes in the MIGS market due to Medicare LCD restrictions may impact future sales. Reimbursement hurdles: Securing reimbursement for Tier Care remains a critical focus. Competitive pressures: New market entrants could affect Sight Sciences’ market share. Tariff exposure: Estimated tariff exposure of $1-1.5 million for 2025 could impact profitability. Q&A During the earnings call, analysts inquired about competitive dynamics in the MIGS market and the standalone MIGS market opportunity. Executives also addressed ongoing payer conversations for Tier Care and the reception of the recently launched OmniEdge product. These discussions highlighted the company’s strategic focus on innovation and market adaptation. Full transcript - Sight Sciences Inc (SGHT) Q2 2025: Conference Operator: Good day, and thank you for standing by. Welcome to the SITE Sciences Second Quarter twenty twenty five Earnings Results Conference Call. At this time, all participants are in a listen only mode. After the speakers’ presentation, there will be a question and answer session. To ask a question during the session, you’ll need to press 11 on your telephone. You’ll then hear an automated message advising your hand is raised. To withdraw your question, please press 11 again. Please be advised that today’s conference is being recorded. I would now like to hand the conference over to your first speaker today, Trip Taylor, Investor Relations. Please go ahead. Trip Taylor, Investor Relations, SITE Sciences: Thank you for participating in today’s call. Presenting today are SiteSciences Co Founder and Chief Executive Officer, Paul Badawi and Chief Financial Officer, Hallie Bauerlein. Also in attendance is SiteSciences’ chief commercial officer, Matt Link. Earlier today, SiteSciences released financial results for the second quarter ended 06/30/2025, and raised its revenue guidance and

References:
[1] https://finance.yahoo.com/news/compared-estimates-sight-sciences-sght-230002418.html
[2] https://www.ainvest.com/news/sight-sciences-q2-2025-navigating-contradictions-tearcare-reimbursement-market-dynamics-2508/
[3] https://www.investing.com/news/transcripts/earnings-call-transcript-sight-sciences-q2-2025-beats-revenue-expectations-93CH-4179587