Sight Sciences (SGHT) AI Stock Analysis

• Market Cap: $188.00M
• Dividend Yield: N/A
• Average Volume (3M): 115.67K
• Price to Earnings (P/E): ―
• Beta (1Y): 2.08
• Revenue Growth: -3.89%
• EPS Growth: 9.68%
• Country: US
• Employees: 216
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Devices
• EPS (TTM): -0.23
• Shares Outstanding: 52,367,360
• 10 Day Avg. Volume: 117,865
• 30 Day Avg. Volume: 115,674
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 0.81
• Enterprise Value/Revenue: 2.01
• Enterprise Value/Gross Profit: 2.35
• Enterprise Value/Ebitda: -3.36
• 1Y Price Target: $4.42
• Price Target Upside: 24.86% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 7

• Rating: 47 Neutral
• Price Target: $3.50 ▼(-1.13% Downside)

Sight Sciences faces significant financial challenges, including declining revenues and negative cash flow, which weigh heavily on its overall score. Technical indicators suggest bearish momentum, while valuation metrics are unattractive due to ongoing losses. The earnings call provided some optimism with raised guidance, but corporate events indicate strategic and operational hurdles. The company's strong gross margin and liquidity position offer some stability, but strategic improvements are necessary for a more favorable outlook.

Positive Factors

Strong Gross Margin

A high gross margin of 85% indicates efficient cost management and the ability to generate significant profit from core operations, providing a buffer against revenue fluctuations.

Raised Revenue Guidance

Raising revenue guidance reflects confidence in business prospects and market demand, suggesting potential for sustained growth and improved financial performance.

Liquidity Position

A strong liquidity position with substantial cash reserves and no debt enhances financial flexibility, allowing the company to invest in growth opportunities and weather economic uncertainties.

Negative Factors

Declining Revenue

A decline in revenue indicates challenges in maintaining market share or product demand, which could impact long-term growth and profitability if not addressed.

Negative Cash Flow

Persistent negative cash flow highlights difficulties in generating sufficient cash from operations, potentially limiting investment in growth and innovation.

Workforce Reduction

A significant workforce reduction may indicate operational challenges and could impact morale and productivity, affecting the company's ability to execute its strategic initiatives effectively.

Sight Sciences Business Overview & Revenue Model

Company Description

Sight Sciences, Inc., an ophthalmic medical device company, engages in the development and commercialization of surgical and nonsurgical technologies for the treatment of eye diseases. The company's products include OMNI Surgical System, a therapeutic device used by ophthalmic surgeons to reduce intraocular pressure in adult glaucoma patients; and TearCare System, a wearable eyelid technology for the treatment of dry eye disease (DED) for ophthalmologists and optometrists. It offers its products through sales representatives and distributors to hospitals, medical centers, and eyecare professionals in the United States. The company was incorporated in 2010 and is headquartered in Menlo Park, California.

How the Company Makes Money

Sight Sciences generates revenue through the sale of its medical devices and products that target eye diseases. The company's key revenue streams include the sales of its proprietary technologies, such as the OMNI Surgical System for glaucoma treatment and the TearCare System for dry eye disease management. These products are sold to eye care professionals and healthcare facilities. Sight Sciences also benefits from strategic partnerships and collaborations within the medical community, which help in broadening its market reach and enhancing product adoption. The company's earnings are primarily driven by the expansion of its customer base and the increasing demand for effective eye disease treatments.

Sight Sciences Financial Statement Overview

Summary

Sight Sciences shows a strong gross margin and liquidity with no debt, but faces challenges with declining revenues, consistent net losses, and negative free cash flow. The reduction in equity suggests potential sustainability concerns.

Income Statement

Sight Sciences shows a declining revenue trend with a revenue decrease from $81.1M in 2023 to $79.9M in 2024, marking a negative revenue growth rate of -1.47%. The company is also operating at a loss, with a net profit margin of -64.5% in 2024, which is a slight improvement from -68.5% in 2023. The gross profit margin is relatively high at 85.5% in 2024, indicating efficient cost management concerning direct costs, but there is a consistent negative EBIT and EBITDA margin due to high operating expenses.

Balance Sheet

The balance sheet reflects a strong liquidity position with a significant amount of cash and cash equivalents ($120.4M) and no debt as of 2024, resulting in a net negative debt position. The equity ratio stands at 61.3%, indicating a solid equity foundation. However, the company has been experiencing a decrease in stockholders' equity from $120.2M in 2023 to $87.5M in 2024. The absence of debt reduces financial risk, but declining equity could be a concern.

Cash Flow

Free cash flow remains negative at -$22.7M in 2024, though there is an improvement from -$47.9M in 2023. The operating cash flow to net income ratio is close to 0.43, reflecting some alignment between operational cash generation and reported losses. Despite improvement, persistent negative cash flows highlight ongoing challenges in generating sufficient cash from operations.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	76.30M	79.87M	81.06M	71.33M	48.96M	27.64M
Gross Profit	65.15M	68.28M	69.17M	58.97M	40.35M	18.43M
EBITDA	-45.59M	-45.90M	-49.41M	-80.48M	-57.20M	-31.68M
Net Income	-49.01M	-51.51M	-55.55M	-86.24M	-62.96M	-34.69M
Balance Sheet
Total Assets	121.97M	142.84M	166.65M	213.07M	280.19M	72.81M
Cash, Cash Equivalents and Short-Term Investments	101.50M	120.36M	138.13M	185.00M	260.69M	61.51M
Total Debt	40.57M	40.36M	35.41M	34.98M	34.21M	32.48M
Total Liabilities	51.96M	55.32M	46.44M	53.00M	48.08M	161.66M
Stockholders Equity	70.01M	87.52M	120.22M	160.08M	232.11M	-88.85M
Cash Flow
Free Cash Flow	-22.41M	-22.74M	-47.98M	-76.94M	-53.35M	-33.13M
Operating Cash Flow	-22.01M	-22.35M	-47.18M	-75.97M	-52.54M	-32.17M
Investing Cash Flow	-398.00K	-385.00K	-791.00K	-970.00K	-813.00K	-953.00K
Financing Cash Flow	5.73M	4.96M	1.10M	1.25M	252.53M	73.40M

Sight Sciences Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 3.54
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SGHT, the sentiment is Negative. The current price of 3.54 is below the 20-day moving average (MA) of 3.68, below the 50-day MA of 3.75, and above the 200-day MA of 3.33, indicating a neutral trend. The MACD of -0.10 indicates Positive momentum. The RSI at 43.51 is Neutral, neither overbought nor oversold. The STOCH value of 49.85 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SGHT.

Sight Sciences Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
GKOS	52 Neutral	4.75B	-49.96	-12.13%	―	26.70%	48.19%
RXST	52 Neutral	375.61M	-11.51	-11.60%	―	27.68%	20.87%
TLSI	48 Neutral	241.36M	-4.11	128.34%	―	45.50%	53.07%
CVRX	48 Neutral	195.09M	-3.55	-90.19%	―	23.11%	18.06%
SGHT	47 Neutral	$188.00M	―	-57.10%	―	-3.89%	9.68%
LNSR	41 Neutral	144.89M	-2.88	532.08%	―	29.34%	-283.53%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%

Sight Sciences Corporate Events

Sight Sciences Announces Workforce Reduction Plan

On August 27, 2025, Sight Sciences, Inc. announced a targeted plan to reduce operating expenses and improve cost efficiencies by reducing its workforce by 20% and delaying certain R&D projects. The plan aims to align the company’s operations for long-term growth without additional equity capital, with expected annual savings of approximately $11.9 million. The company also announced the departure of Chief Commercial Officer Matthew Link, effective August 31, 2025, with no immediate plans to fill the position. Despite these changes, Sight Sciences reaffirmed its revenue guidance for 2025 and expects a mid-single-digit decline in third-quarter surgical glaucoma revenue compared to the previous year.

Sight Sciences Raises Full-Year Revenue Guidance

On August 7, 2025, Sight Sciences reported its financial results for the second quarter of 2025, showing a total revenue of $19.6 million, an 8% decrease from the previous year, primarily due to reduced revenue from its Surgical Glaucoma segment. Despite the decline, the company raised its full-year revenue guidance, reflecting confidence in its market position and ongoing efforts to enhance patient outcomes through innovative technologies.