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Dec 31, 2025
Sight Sciences Q4 2025 Earnings Report
Sight Sciences Q4 2025 Earnings Report
Key Takeaways
Sight Sciences returned to growth in its Interventional Glaucoma segment and achieved significant gross margin expansion in its Dry Eye business during Q4 2025. The company demonstrated strong fiscal discipline by reducing operating expenses by 25% and narrowing its net loss significantly compared to the prior year.
Total revenue increased 7% year-over-year to $20.4 million, driven by growth in both business segments.
Net loss narrowed to $4.2 million ($0.08 per share) from $11.8 million ($0.23 per share) in the prior year period.
Operating expenses were reduced by 25% through lower personnel costs and stock-based compensation.
Cash usage was significantly reduced to $0.4 million for the quarter, leaving $92.0 million in cash and equivalents.
Revenue by Segment
Forward Guidance
Sight Sciences initiated full year 2026 guidance projecting revenue growth and targeted investments for market expansion.
Positive Outlook
- Full year 2026 revenue expected to be between $82 million and $88 million.
- Projected revenue growth of 6% to 14% compared to 2025.
- Interventional Dry Eye revenue expected to grow significantly to between $5 million and $7 million.
- Interventional Glaucoma revenue projected to grow 2% to 7%.
- Pathway toward cashflow breakeven remains a strategic focus.
Challenges Ahead
- Adjusted operating expenses expected to increase to $93 million - $96 million.
- Operating expense increase of 6% to 9% due to expanded market access efforts.
- Potential pricing pressure from evolving competitive landscape.
- Impact of tariffs on medical device products.
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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