Sight Sciences (SGHT)
NASDAQ:SGHT
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Sight Sciences
(NASDAQ:SGHT)
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Rating:54Neutral
Price Target:
$5.00
▲(22.25% Upside)
Action:Reiterated
Date:05/09/26
The score is held back primarily by weak financial performance (persistent losses and negative free cash flow) and limited valuation support (negative P/E, no dividend). Offsetting factors are a constructive earnings-call outlook (raised guidance, improving cash usage, strong margins) and positive technical momentum, though near-term indicators look overbought.
Positive Factors
High gross margins
Sustained product-level gross margins near 85% indicate strong unit economics and pricing power for capital systems plus consumables. Durable margins give the company room to fund commercial expansion and absorb R&D or SG&A investments while pursuing long-term path to profitability.
Negative Factors
Persistent net losses and negative free cash flow
Despite improving burn, the company remains consistently cash‑flow negative and loss-making across periods. Ongoing negative free cash flow erodes equity and makes the business reliant on financing until sustained positive operations, increasing execution and capital‑access risk over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
High gross margins
Sustained product-level gross margins near 85% indicate strong unit economics and pricing power for capital systems plus consumables. Durable margins give the company room to fund commercial expansion and absorb R&D or SG&A investments while pursuing long-term path to profitability.
Read all positive factors
Sight Sciences (SGHT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$273.68M
Dividend YieldN/A
Average Volume (3M)150.61K
Price to Earnings (P/E)―
Beta (1Y)1.71
Revenue Growth1.85%
EPS Growth27.73%
CountryUS
Employees216
SectorHealthcare
Sector Strength45
IndustryMedical - Devices
Share Statistics
EPS (TTM)-0.71
Shares Outstanding54,409,943
10 Day Avg. Volume244,568
30 Day Avg. Volume150,613
Financial Highlights & Ratios
PEG Ratio0.38
Price to Book (P/B)6.47
Price to Sales (P/S)5.35
P/FCF Ratio-13.82
Enterprise Value/Market Cap0.84
Enterprise Value/Revenue2.89
Enterprise Value/Gross Profit3.35
Enterprise Value/Ebitda-7.07
Forecast
1Y Price Target
$8.73Price Target Upside113.33% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering8
EPS Forecast (FY)-0.78
Revenue Forecast (FY)$84.48M
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 therape...
How the Company Makes Money
Sight Sciences primarily makes money by selling its eye-care procedure systems and the associated disposable/single-use components used in each procedure. Revenue is generated from (1) product sales of capital equipment/systems placed in clinics a...
Sight Sciences Earnings Call Summary
Earnings Call Date:May 06, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 06, 2026
Earnings Call Sentiment Positive
The call presented a largely positive operational and financial picture: the company returned to double‑digit revenue growth, raised 2026 revenue guidance, showed meaningful early traction in the newly reimbursed Interventional Dry Eye market, sustained very strong gross margins, and demonstrated improved cash usage and lower adjusted operating expenses. Challenges remain—most notably continued net losses, concentrated payer coverage for TearCare, early penetration of the dry eye opportunity, and uncertainty around timing of cash from the legal judgment—but these risks were framed as manageable and addressable with targeted commercial investment. On balance the positive progress, guidance raise, margin strength, and improving cash dynamics outweigh the outstanding risks.Positive Updates
Return to Double‑Digit Revenue Growth
Total revenue for Q1 2026 was $19.7M, up 13% year‑over‑year, led by growth in both Interventional Glaucoma and Interventional Dry Eye.
Negative Updates
Company Still Loss‑Making
Net loss was $13.0M ($0.24 per share) in Q1 2026, improved from $14.2M ($0.28), but the company remains unprofitable and not yet cash‑flow positive.
Read all updates
Q1-2026 Updates
Positive
Negative
Return to Double‑Digit Revenue Growth
Total revenue for Q1 2026 was $19.7M, up 13% year‑over‑year, led by growth in both Interventional Glaucoma and Interventional Dry Eye.
Read all positive updates
Company Guidance
Sight Sciences raised full‑year 2026 revenue guidance to $83–$89 million (up 7%–15% versus 2025, previously $82–$88M) while reaffirming adjusted operating expense guidance of $93–$96 million (up 6%–9% vs. 2025); management expects FY Interventional Glaucoma revenue of $77–$81M (growth 2%–7%) and Interventional Dry Eye revenue of $6–$8M (versus $1.6M in 2025). In Q1 the company reported $19.7M total revenue (up 13% YoY) including $18.3M in IG (up 7% YoY; ordering accounts +6% YoY, +1% sequentially) and $1.4M in Dry Eye (vs. $400K prior period), with gross margin 86% (IG 87%, Dry Eye 72%). For Q2 management expects low‑double‑digit total revenue growth, mid‑single‑digit IG growth, and Dry Eye revenue of $1.5–$2.0M; cash was $85M at quarter end with $7M cash used in Q1 (vs. $11.6M prior year) and $40M debt, and the company reiterated a path to cash‑flow breakeven without raising equity.Sight Sciences Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
52
Neutral
Cash Flow
27
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 79.55M | 77.36M | 79.87M | 81.06M | 71.33M | 48.96M |
| Gross Profit | 68.55M | 66.67M | 68.28M | 69.17M | 58.97M | 40.35M |
| EBITDA | -32.50M | -36.61M | -45.90M | -49.41M | -80.48M | -57.20M |
| Net Income | -37.25M | -38.43M | -51.51M | -55.55M | -86.24M | -62.96M |
Balance Sheet | ||||||
| Total Assets | 109.70M | 115.30M | 142.84M | 166.65M | 213.07M | 280.19M |
| Cash, Cash Equivalents and Short-Term Investments | 84.96M | 91.97M | 120.36M | 138.13M | 185.00M | 260.69M |
| Total Debt | 40.89M | 40.77M | 40.36M | 35.41M | 34.98M | 34.21M |
| Total Liabilities | 55.80M | 51.36M | 55.32M | 46.44M | 53.00M | 48.08M |
| Stockholders Equity | 53.90M | 63.94M | 87.52M | 120.22M | 160.08M | 232.11M |
Cash Flow | ||||||
| Free Cash Flow | -25.40M | -29.92M | -22.74M | -47.98M | -76.94M | -53.35M |
| Operating Cash Flow | -25.12M | -29.69M | -22.35M | -47.18M | -75.97M | -52.54M |
| Investing Cash Flow | -284.00K | -224.00K | -385.00K | -791.00K | -970.00K | -813.00K |
| Financing Cash Flow | 1.86M | 1.79M | 4.96M | 1.10M | 1.25M | 252.53M |
Sight Sciences Technical Analysis
Positive
4.09
Price Trends
4.18
Positive
5.05
Negative
5.22
Negative
Market Momentum
0.22
Positive
57.62
Neutral
43.71
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 4.09 is below the 20-day moving average (MA) of 4.73, below the 50-day MA of 4.18, and below the 200-day MA of 5.22, indicating a neutral trend. The MACD of 0.22 indicates Positive momentum. The RSI at 57.62 is Neutral, neither overbought nor oversold. The STOCH value of 43.71 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SGHT.
Sight Sciences Risk Analysis
Sight Sciences disclosed 52 risk factors in its most recent earnings report. Sight Sciences reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Sight Sciences Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
58 Neutral | $118.65M | 17.44 | 3.81% | ― | 2.25% | -19.05% | |
54 Neutral | $273.68M | -3.92 | -59.10% | ― | 1.85% | 27.73% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
47 Neutral | $73.72M | 0.50 | -514.92% | ― | 1.12% | ― | |
46 Neutral | $140.96M | -26.62 | 305.45% | ― | 0.96% | 28.36% | |
45 Neutral | $200.22M | 33.49 | 162.57% | ― | 39.64% | -25.99% | |
44 Neutral | $162.13M | -4.75 | -120.77% | ― | 11.73% | 8.07% |
* Healthcare Sector Average
SGHT
Sight Sciences
5.03
1.59
46.22%
FONR
Fonar
18.90
4.76
33.72%
RCEL
Avita Medical
4.58
-1.70
-27.07%
LNSR
LENSAR
6.09
-7.49
-55.15%
TLSI
TriSalus Life Sciences
3.26
-2.33
-41.68%
CVRX
CVRx
6.11
-0.85
-12.21%
Sight Sciences Corporate Events
Business Operations and StrategyFinancial DisclosuresLegal Proceedings
Sight Sciences Lifts 2026 Outlook After Strong Q1
Positive
May 6, 2026
On May 6, 2026, Sight Sciences reported first-quarter 2026 revenue of $19.7 million, up 13% year over year, driven by 7% growth in Interventional Glaucoma to $18.3 million and a 244% surge in Interventional Dry Eye to $1.4 million, while maintaini...
Business Operations and StrategyFinancial DisclosuresLegal Proceedings
Sight Sciences Wins Patent Judgment, Secures Ongoing Royalties
Positive
Apr 23, 2026
On April 22, 2026, Sight Sciences reported that the U.S. District Court for the District of Delaware entered a final judgment in its patent infringement lawsuit against Alcon over the Hydrus Microstent. The court upheld a jury’s findings tha...
Business Operations and StrategyFinancial DisclosuresLegal Proceedings
Sight Sciences Wins Key Patent Ruling in Glaucoma Case
Positive
Mar 30, 2026
On March 30, 2026, Sight Sciences announced that the U.S. District Court for the District of Delaware issued a March 27, 2026 order preserving a jury’s verdict that Alcon willfully infringed three of its glaucoma-related patents through sale...
Business Operations and StrategyFinancial Disclosures
Sight Sciences Posts Q4 Growth, Issues 2026 Outlook
Positive
Mar 4, 2026
On March 4, 2026, Sight Sciences reported fourth-quarter 2025 revenue of $20.4 million, up 7% year-on-year, and full-year 2025 revenue of $77.4 million, down 3% versus 2024, as glaucoma sales were flat and dry eye revenue declined for the year. Th...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.