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Dec 31, 2024
Sight Sciences Q4 2024 Earnings Report
Sight Sciences reported a slight increase in Q4 revenue but posted a net loss.
Key Takeaways
Sight Sciences reported Q4 2024 revenue of $19.1 million, a 2% increase year-over-year. Net loss widened to $11.8 million, with an EPS loss of $0.23. Gross margin improved to 87%, primarily due to a favorable product mix shift towards higher-margin Surgical Glaucoma revenue. Operating expenses increased by 5% due to higher personnel-related costs.
Total revenue for Q4 2024 was $19.1 million, up 2% year-over-year.
Net loss increased to $11.8 million from $10.7 million in Q4 2023.
Gross margin improved to 87% from 85% in the prior year.
Surgical Glaucoma revenue grew 9%, while Dry Eye revenue declined.
Revenue by Segment
Forward Guidance
Sight Sciences expects full-year 2025 revenue to decline between 6% and 12% due to Medicare reimbursement changes affecting the MIGS market.
Positive Outlook
- Revenue guidance for 2025 set at $70M-$75M.
- Company expects a positive impact from next-generation OMNI release.
- Continued investment in standalone pseudophakic Surgical Glaucoma market development.
- TearCare market access expansion initiatives planned.
- R&D investment to support new product pipeline.
Challenges Ahead
- Expected revenue decline due to new Medicare LCDs impacting MIGS procedures.
- Dry Eye revenue expected to be minimal at around $1M for 2025.
- Projected adjusted operating expenses to rise by 4%-6%.
- No assumptions of positive reimbursement coverage for Dry Eye in 2025.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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