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Sep 30, 2022

Sight Sciences Q3 2022 Earnings Report

Reported financial results for the third quarter ended September 30, 2022.

Key Takeaways

Sight Sciences reported a 43% increase in revenue compared to the third quarter of 2021, with Surgical Glaucoma revenue increasing by 37% and Dry Eye revenue increasing by 145%. The company achieved a gross margin of 84%.

Total revenue of $18.7 million, an increase of 43% compared to the prior year period.

Gross margin of 84%.

Increased the number of facilities ordering the OMNIĀ® Surgical System to 913.

Launched the SIONā„¢ Surgical Instrument.

Total Revenue
$18.7M
Previous year: $13.1M
+42.6%
EPS
-$0.46
Previous year: -$0.43
+7.0%
Gross Margin
84%
Previous year: 84%
+0.0%
Operating Expenses
$37.6M
Previous year: $25.1M
+49.8%
Gross Profit
$15.7M
Previous year: $11M
+42.7%
Cash and Equivalents
$200M
Previous year: $271M
-26.4%
Free Cash Flow
-$20.5M
Previous year: -$16.8M
+21.8%
Total Assets
$225M
Previous year: $291M
-22.6%

Sight Sciences

Sight Sciences

Sight Sciences Revenue by Segment

Forward Guidance

Sight Sciences now projects revenue for the full year 2022 to range from $70 million to $72 million, which represents growth of approximately 43% to 47% compared to 2021.

Revenue & Expenses

Visualization of income flow from segment revenue to net income