Sight Sciences (SGHT) AI Stock Analysis

• Market Cap: $159.22M
• Dividend Yield: N/A
• Average Volume (3M): 189.91K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.78
• Revenue Growth: -1.47%
• EPS Growth: 9.99%
• Country: US
• Employees: 216
• Sector: Healthcare
• Sector Strength: 74
• Industry: Medical - Devices
• EPS (TTM): -1.03
• Shares Outstanding: 51,695,686
• 10 Day Avg. Volume: 174,886
• 30 Day Avg. Volume: 189,905
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): 0.00
• Price to Cash Flow (P/CF): 0.00
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: 0.66
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: 1.54
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: $3.20
• Price Target Upside: 4.92% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 7

Sight Sciences faces significant financial challenges with consistent net losses and declining revenue. While technical indicators show short-term momentum, overbought conditions may limit further gains. Valuation remains difficult, and although recent earnings call guidance and strategic initiatives indicate potential, immediate hurdles persist.

Positive Factors

Financial Flexibility

Sight maintains a solid $120 million cash position, which enables flexibility for ongoing product launches, market access efforts, and further R&D investments.

Product Growth Potential

TearCare was discussed as a significant product with potential for growth and market impact.

Product Pipeline

The company's pipeline was highlighted as a promising aspect during the conference.

Negative Factors

Coverage Restrictions

Five Medicare administrative contractors finalized LCDs restricting coverage for glaucoma procedures using multiple MIGS, causing an industry-wide headwind.

Revenue Guidance

2025 revenue guidance is below consensus due to the impact of LCDs on OMNI's volume outlook.

Tariffs and Costs

Tariffs were mentioned as a potential challenge for the company, implying possible cost implications.

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 primarily through the sale of its medical devices and related consumables to healthcare providers and distributors. The company's key revenue streams include the sales of its OMNI Surgical System, used for minimally invasive glaucoma surgery, and the TearCare System, designed for the treatment of dry eye disease. Sight Sciences may also engage in partnerships and collaborations with healthcare institutions and other entities to expand the reach of its products. Additional revenue may come from ongoing service and support contracts associated with its devices.

Sight Sciences Financial Statement Overview

Summary

Sight Sciences demonstrates a strong gross margin and liquidity position with no debt, which are positive indicators. However, the company faces challenges with declining revenues, consistent net losses, and negative free cash flow. The reduction in equity suggests potential sustainability concerns if these trends continue. The financial position is stable but requires strategic actions to improve profitability and cash flow generation.

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
Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement		Total Revenue
79.87M	81.06M	71.33M	48.96M	27.64M
	Gross Profit
68.28M	69.17M	58.97M	40.35M	18.43M
	EBIT
-50.53M	-57.27M	-83.95M	-51.48M	-32.19M
	EBITDA
-45.90M	-49.41M	-80.48M	-57.20M	-31.68M
	Net Income Common Stockholders
-51.51M	-55.55M	-86.24M	-62.96M	-34.69M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
120.36M	138.13M	185.00M	260.69M	61.51M
	Total Assets
142.84M	166.65M	213.07M	280.19M	72.81M
	Total Debt
40.36M	35.41M	34.35M	32.66M	32.48M
	Net Debt
-80.00M	-102.72M	-150.65M	-228.03M	-29.03M
	Total Liabilities
55.32M	46.44M	53.00M	48.08M	161.66M
	Stockholders Equity
87.52M	120.22M	160.08M	232.11M	-88.85M
Cash Flow		Free Cash Flow
-22.74M	-47.98M	-76.94M	-53.35M	-33.13M
	Operating Cash Flow
-22.35M	-47.18M	-75.97M	-52.54M	-32.17M
	Investing Cash Flow
-385.00K	-791.00K	-970.00K	-813.00K	-953.00K
	Financing Cash Flow
4.96M	1.10M	1.25M	252.53M	73.40M

Sight Sciences Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 3.05
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SGHT, the sentiment is Positive. The current price of 3.05 is above the 20-day moving average (MA) of 2.69, above the 50-day MA of 2.65, and below the 200-day MA of 4.41, indicating a neutral trend. The MACD of 0.16 indicates Negative momentum. The RSI at 60.17 is Neutral, neither overbought nor oversold. The STOCH value of 65.34 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SGHT.

Sight Sciences Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
LNSR	70 Neutral	$164.97M	―	-95.42%	―	26.87%	-104.94%
Sector *	52 Neutral	$5.28B	3.75	-42.72%	2.86%	17.70%	2.03%
TLSI	50 Neutral	$165.56M	―	271.41%	―	169.66%	28.89%
CVRX	50 Neutral	$190.74M	―	-81.58%	―	30.53%	-35.97%
SGHT	47 Neutral	$159.22M	―	-49.59%	―	-1.47%	9.99%
GKOS	47 Neutral	$5.38B	―	-23.83%	―	21.85%	-1.18%
RXST	47 Neutral	$597.93M	―	-12.43%	―	57.08%	49.93%

Sight Sciences Corporate Events

Sight Sciences Appoints Gerhard F. Burbach to Board

On April 21, 2025, Sight Sciences appointed Gerhard F. Burbach to its Board of Directors, effective until the 2026 annual meeting. Burbach’s extensive experience in the medtech industry, particularly his leadership at Thoratec Corporation, is expected to bolster Sight Sciences’ strategic initiatives in the glaucoma and dry eye segments, enhancing its market position.

Spark’s Take on SGHT Stock

According to Spark, TipRanks’ AI Analyst, SGHT is a Neutral.

Sight Sciences’ stock score reflects its strong liquidity position and gross margins, tempered by ongoing net losses, declining revenue, and negative cash flow. Technical indicators suggest a lack of upward momentum, and valuation metrics are challenging due to the company’s financial losses. While strategic initiatives and potential market access for its products offer some optimism, immediate financial challenges remain a concern.

To see Spark’s full report on SGHT stock, click here.

Sight Sciences Reports 2024 Financial Results and 2025 Outlook

On March 5, 2025, Sight Sciences reported its financial results for the fourth quarter and full year 2024, revealing a slight revenue decline for the year but a significant reduction in cash usage and operating expenses. The company also announced a new financial guidance for 2025, anticipating a revenue decline due to changes in Medicare coverage for certain procedures, while continuing to focus on strategic initiatives and market access opportunities for its products.