Sight Sciences | 8-K: FY2026 Q1 Revenue Beats Estimate at USD 19.7 M

Revenue: As of FY2026 Q1, the actual value is USD 19.7 M, beating the estimate of USD 18.55 M.

EPS: As of FY2026 Q1, the actual value is USD -0.24, missing the estimate of USD -0.1745.

EBIT: As of FY2026 Q1, the actual value is USD -11.89 M.

First Quarter 2026 Financial Results

Revenue

• Total Revenue: Sight Sciences, Inc. generated total revenue of $19.7 million in the first quarter of 2026, marking a 13% increase compared to the same period in the prior year.
• Surgical Glaucoma Revenue: Surgical Glaucoma revenue was $18.3 million in the first quarter of 2026, an increase of 7% from $17.1 million in the same period in the prior year.
• Dry Eye Revenue: Dry Eye revenue reached $1.4 million in the first quarter of 2026, representing a 244% increase from $0.4 million in the same period in the prior year and an 87% increase from the fourth quarter of 2025.

Gross Margin

• Total Gross Profit: The total gross profit for the first quarter of 2026 was $17.0 million, up from $15.1 million in the prior year period.
• Total Gross Margin: The total gross margin was 86% in the first quarter of 2026, flat compared to the same period in the prior year.
• Surgical Glaucoma Gross Margin: Surgical Glaucoma gross margin was 87.2% in the first quarter of 2026, compared to 86.6% in the prior year period.
• Dry Eye Gross Margin: Dry Eye gross margin was 72.1% in the first quarter of 2026, up from 70.6% in the prior year period.

Operating Expenses

• Total Operating Expenses: Total operating expenses were $29.4 million in the first quarter of 2026, a 2% increase from $29.0 million in the same period in the prior year.
• Research and Development Expenses: Research and development expenses decreased by 43% to $2.5 million in the first quarter of 2026, compared to $4.4 million in the prior year period.
• Selling, General, and Administrative Expenses: Selling, general, and administrative expenses increased by 9% to $26.8 million in the first quarter of 2026, compared to $24.5 million in the prior year period.
• Adjusted Operating Expenses: Adjusted operating expenses were $21.2 million in the first quarter of 2026, a 14% decrease compared to $24.7 million in the prior year period.

Net Loss

• Net Loss: Sight Sciences, Inc. reported a net loss of - $13.0 million, or a loss of - $0.24 per share, in the first quarter of 2026, an improvement from a net loss of - $14.2 million, or a loss of - $0.28 per share, in the same period in the prior year.

Cash and Debt

• Cash and Cash Equivalents: Cash and cash equivalents totaled $85.0 million as of March 31, 2026, down from $92.0 million as of December 31, 2025.
• Cash Usage: Cash usage in the first quarter of 2026 was $7.0 million, a 40% improvement compared to $11.6 million in the first quarter of 2025.
• Long-term Debt: Total long-term debt was $40.0 million (before debt discount and amortized debt issuance costs) as of March 31, 2026, consistent with $40.0 million as of December 31, 2025.

Other Key Metrics

• Patent Infringement Award: The company was awarded past monetary damages of $55.4 million and an ongoing royalty of 10% of Hydrus® Microstent revenue through patent expiration from Alcon Inc.
• Surgical Glaucoma Active Customers: The number of active customers for Surgical Glaucoma products was 1,175 in Q1 2026, up from 1,108 in Q1 2025.
• Dry Eye Lid Treatment Units Sold: Dry Eye lid treatment units sold were 1,534 in Q1 2026, compared to 1,029 in Q1 2025.
• Dry Eye Active Customers: The number of active customers for Dry Eye products was 96 in Q1 2026, up from 75 in Q1 2025.

2026 Financial Guidance

Sight Sciences, Inc. raised its full-year 2026 revenue guidance to a range of $83.0 million to $89.0 million, representing 7% to 15% growth over full-year 2025, an increase from its prior guidance of $82.0 million to $88.0 million. This updated guidance includes Interventional Glaucoma segment revenue of $77.0 million to $81.0 million and Interventional Dry Eye segment revenue of $6.0 million to $8.0 million. The company reaffirmed its full-year 2026 adjusted operating expenses guidance range of $93.0 million to $96.0 million, reflecting targeted investments in both business segments.