Key Highlights

  • Revenue was USD 24.92 million against a USD 23.55 million estimate, with EPS of USD -0.12 against USD -0.12.
  • Dry Eye Revenue was USD 3.88 million against USD 0.19 million; Glaucoma was USD 21.05 million against USD 19.72 million.
  • Net loss was USD 6.81 million against USD 8.17 million, equal to USD 0.12 per share against USD 0.16.
  • Cash was USD 77.4 million, with USD 40.0 million of term Loan principal outstanding and interest-only payments to August 2027.

Sight Sciences (NASDAQ:SGHT) framed its quarter around a set of dated items rather than numerical guidance: an interest-only loan period to August 1, 2027, a loan Maturity of July 1, 2028, and a Patent appeal with briefing projected to conclude in early 2027. Revenue of USD 24.92 million compares with an estimate of USD 23.55 million, and EPS of USD -0.12 matches the estimate of USD -0.12.

Dated Items Management Stated: Loan, Cash and the Alcon Appeal

The company said its cash and cash equivalents of USD 77.4 million, together with other Liquidity sources, fund operations for at least the next 12 months and beyond. Term loan principal under the Hercules agreement was USD 40.0 million, with a USD 2.4 million final payment due at maturity, and up to USD 25.0 million more is available to draw subject to lender approval.

In patent litigation, the court entered a final judgment on April 22, 2026 that upheld the jury's findings that the asserted patent claims were valid and willfully infringed by Alcon. It awarded USD 55.4 million in damages and an ongoing Royalty of 10% of Hydrus revenue through expiration of the last patent. Alcon filed its notice of appeal on May 27 and its opening brief on September 27.

The Quarter in Detail

Revenue of USD 24.92 million compares with USD 19.91 million in the third quarter of 2025, an increase of 25.2% as stated. Gross Profit was USD 21.42 million against USD 17.20 million, with a gross Margin of 85.9% against 86.4%.

Research and development expense was USD 2.71 million against USD 3.35 million, while selling, general and administrative expense was USD 24.84 million against USD 21.75 million. Loss from operations was USD 6.13 million against USD 7.91 million. Net loss was USD 6.81 million, or USD 0.12 per share, against USD 8.17 million, or USD 0.16.

For the nine months, revenue was USD 68.01 million against USD 56.98 million and net loss was USD 24.24 million against USD 34.26 million.

Segment and Operations Detail

Interventional Glaucoma revenue, which comes from the OMNI and SION products, was USD 21.05 million against USD 19.72 million, up 6.7% as stated. Management attributed the increase to more OMNI units sold and higher average selling prices.

Interventional Dry Eye revenue, from the TearCare System, was USD 3.88 million against USD 0.19 million. Management linked the increase to higher SmartLid Volume and average selling prices after two Medicare Administrative Contractors established fee schedules in the fourth quarter of 2025 for CPT code 0563T, the code for the TearCare procedure. Segment gross margin was 79.0% against 37.8%. Management stated that substantially all revenue is generated from sales in the United States.

Guidance Versus Reported Results

Reported revenue of USD 24.92 million sits alongside an estimate of USD 23.55 million, a loss of USD 0.12 per share beside an estimate of USD -0.12, and cash of USD 77.4 million beside USD 40.0 million of term loan principal.

Management named priorities including educating surgeons on earlier intervention with OMNI and TearCare, driving TearCare growth where payment values exist, expanding reimbursed access elsewhere, and developing the OMNI pseudophakic standalone market. The dated items remain the August 1, 2027 end of the interest-only period, the July 1, 2028 loan maturity, and the conclusion of appeal briefing in early 2027.