Sight Sciences Q1 2023 Earnings Report
Key Takeaways
Sight Sciences reported a 26% increase in revenue for the first quarter of 2023, driven by the adoption of surgical glaucoma and dry eye technologies. The company reaffirmed its full-year revenue guidance and expects improved operating leverage.
Generated first quarter revenue of $18.8 million, an increase of 26% compared to the prior year period
Achieved gross margin of 84% in the first quarter of 2023 versus 80% in the first quarter of 2022
Completed the commercial launch of the Ergo-Series OMNIĀ® Surgical System
Net loss was $17.1 million ($0.35 per share) in the first quarter of 2023, as compared to $23.3 million ($0.49 per share) in the prior year period.
Sight Sciences
Sight Sciences
Sight Sciences Revenue by Segment
Forward Guidance
Sight Sciences reaffirms revenue guidance expectations for the full year 2023 of $89.0 million to $94.0 million, which represents growth of approximately 25% to 32% compared to 2022. The Company also reaffirms its expectation for average adjusted operating expense on a quarterly basis of approximately $30.5 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income