Sight Sciences (SGHT) AI Stock Analysis

• Market Cap: $184.06M
• Dividend Yield: N/A
• Average Volume (3M): 141.06K
• Price to Earnings (P/E): ―
• Beta (1Y): 2.02
• Revenue Growth: -4.16%
• EPS Growth: 12.79%
• Country: US
• Employees: 216
• Sector: Healthcare
• Sector Strength: 37
• Industry: Medical - Devices
• EPS (TTM): -0.28
• Shares Outstanding: 51,702,087
• 10 Day Avg. Volume: 104,165
• 30 Day Avg. Volume: 141,064
• PEG Ratio: -0.75
• Price to Book (P/B): 2.28
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -7.31
• Enterprise Value/Market Cap: 0.35
• Enterprise Value/Revenue: 0.20
• Enterprise Value/Gross Profit: 0.96
• Enterprise Value/Ebitda: -0.34
• 1Y Price Target: $3.72
• Price Target Upside: -1.59% Downside
• Rating Consensus: Hold
• Number of Analyst Covering: 7

• Rating: 45 Neutral
• Price Target: $3.50 ▼(-7.41%Downside)

The overall stock score is primarily influenced by financial performance challenges, including declining revenues, persistent net losses, and negative free cash flow. Technical analysis indicates neutral momentum, while valuation is impacted by negative earnings. Despite some positives, such as a strong gross margin and liquidity position, the stock faces significant operational and market challenges.

Positive Factors

Financial Stability

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

Product Performance

TearCare is preferred for its superior patient comfort and long-lasting benefits, indicating high patient satisfaction and clinical effectiveness.

Revenue Performance

SGHT's first-quarter sales of $17.5 million were $1 million above estimates, showcasing better-than-expected performance.

Negative Factors

Market Access

While market access remains a challenge, TearCare's potential to disrupt the dry eye market is contingent on receiving reimbursement coverage.

Sales Guidance

Management reiterated full-year sales guidance of a 6% to 12% decline year-over-year, indicating ongoing challenges.

Tariffs Impact

Tariffs are expected to be a ~$4M headwind, with management beginning to transition manufacturing outside of China.

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 faces challenges with declining revenues and consistent net losses, despite strong gross margins and liquidity with no debt. The persistent negative cash flow and declining equity suggest 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	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
EBITDA	-45.90M	-49.41M	-80.48M	-57.20M	-31.68M
Net Income	-51.51M	-55.55M	-86.24M	-62.96M	-34.69M
Balance Sheet
Total Assets	142.84M	166.65M	213.07M	280.19M	72.81M
Cash, Cash Equivalents and Short-Term Investments	120.36M	138.13M	185.00M	260.69M	61.51M
Total Debt	40.36M	35.41M	34.35M	32.66M	32.48M
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: 3.78
• 50DMA: Positive
• 100DMA: Positive
• 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 Positive. The current price of 3.78 is above the 20-day moving average (MA) of 3.75, above the 50-day MA of 3.78, and above the 200-day MA of 3.57, indicating a bullish trend. The MACD of -0.09 indicates Positive momentum. The RSI at 51.90 is Neutral, neither overbought nor oversold. The STOCH value of 59.23 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
CVRX	59 Neutral	$224.22M	―	-76.01%	―	25.62%	11.86%
GKOS	54 Neutral	$5.39B	―	-20.36%	―	23.92%	19.82%
TLSI	50 Neutral	$178.49M	―	271.41%	―	85.03%	53.73%
LNSR	47 Neutral	$156.67M	―	-304.05%	―	28.24%	-334.39%
Sector *	46 Neutral	C$200.02M	-3.36	-23.14%	1.86%	20.75%	-0.36%
SGHT	45 Neutral	$184.06M	―	-52.87%	―	-4.16%	12.79%
RXST	45 Neutral	$321.03M	―	-11.98%	―	46.69%	46.68%

Sight Sciences Corporate Events

Sight Sciences Holds Annual Stockholders Meeting

On April 21, 2025, Sight Sciences, Inc. appointed Gerhard F. Burbach to its Board of Directors and the Audit Committee. At the annual stockholders meeting on June 5, 2025, the company elected three Class I directors and ratified Deloitte & Touche LLP as its independent accounting firm for the fiscal year ending December 31, 2025. The meeting saw participation from approximately 75.1% of the company’s outstanding shares.

The most recent analyst rating on (SGHT) stock is a Hold with a $6.50 price target. To see the full list of analyst forecasts on Sight Sciences stock, see the SGHT Stock Forecast page.

Sight Sciences Reports Q1 2025 Financial Results

On May 8, 2025, Sight Sciences reported its financial results for the first quarter of 2025, showing a 9% decrease in total revenue compared to the previous year, primarily due to reduced revenue from its Surgical Glaucoma segment. The company reaffirmed its full-year revenue guidance for 2025, despite challenges posed by new Medicare LCDs affecting the MIGS market and tariff impacts on its products manufactured in China. Sight Sciences also launched OMNI Edge, a new product in its surgical system line, and announced improved adjusted operating expenses guidance for the year.