Sight Sciences Inc (SGHT) Q1 2025 Earnings Call May 08, 2025 04:30 PM ET Company Participants None - ExecutivePaul Badawi - Founder, CEO & DirectorAli Bauerlein - CFOThomas Stephan - Vice PresidentMatt Link - CCOMacauley Kilbane - Equity Research Associate Conference Call Participants None - AnalystFrank Takkinen - Senior Research AnalystDavid Saxon - Senior Analyst Operator Good day, and thank you for standing by. Welcome to the SITE Sciences first quarter two thousand twenty five earning results conferenc ...

Sight Sciences Inc (SGHT) Q1 2025 Earnings Call May 08, 2025 04:30 PM ET Speaker0 Good day, and thank you for standing by. Welcome to the SITE Sciences first quarter two thousand twenty five earning results conference call. At this time, all participants are in listen only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during this session, you will need to press 11 on your telephone. You would then hear an automated message advising your hand is raised ...

PART I. FINANCIAL INFORMATION [Item 1. Condensed Consolidated Financial Statements](index=5&type=section&id=Item%201.%20Condensed%20Consolidated%20Financial%20Statements) The unaudited condensed consolidated financial statements for the quarter ended March 31, 2025, show a decrease in total assets to **$129.7 million** from **$142.8 million** at year-end 2024. The company reported a net loss of **$14.2 million** for the quarter, an improvement from a **$16.3 million** loss in the same period last year. The net loss was primarily driven by operating expenses exceeding gross profit. Cash and cash equivalents decreased by **$11.6 million** during the quarter to **$108.8 million**, mainly due to cash used in operating activities [Condensed Consolidated Balance Sheets (Unaudited)](index=5&type=section&id=Condensed%20Consolidated%20Balance%20Sheets%20(Unaudited)) As of March 31, 2025, the company's total assets were **$129.7 million**, a decrease from **$142.8 million** at the end of 2024. This was primarily due to a reduction in cash and cash equivalents. Total liabilities decreased to **$52.1 million** from **$55.3 million**, mainly from a reduction in accrued compensation. Consequently, total stockholders' equity declined to **$77.6 million** from **$87.5 million** Balance Sheet Summary (in thousands) | Account | March 31, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Cash and cash equivalents | $108,768 | $120,357 | | Total current assets | $126,906 | $139,774 | | **Total assets** | **$129,680** | **$142,839** | | Total current liabilities | $12,122 | $15,468 | | Long-term debt, net | $39,583 | $39,356 | | **Total liabilities** | **$52,052** | **$55,316** | | **Total stockholders' equity** | **$77,628** | **$87,523** | [Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited)](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations%20and%20Comprehensive%20Loss%20(Unaudited)) For the three months ended March 31, 2025, revenue was **$17.5 million**, a **9.1%** decrease from **$19.3 million** in the same period of 2024. Gross profit also decreased to **$15.1 million** from **$16.5 million**. The company reduced its loss from operations to **$13.9 million** from **$14.7 million** year-over-year. The net loss for the quarter was **$14.2 million**, or (**$0.28**) per share, compared to a net loss of **$16.3 million**, or (**$0.33**) per share, in Q1 2024 Q1 2025 vs. Q1 2024 Performance (in thousands, except per share data) | Metric | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Revenue | $17,508 | $19,265 | | Gross Profit | $15,094 | $16,472 | | Loss from Operations | $(13,859) | $(14,723) | | **Net Loss** | **$(14,154)** | **$(16,266)** | | Net Loss Per Share | $(0.28) | $(0.33) | [Condensed Consolidated Statements of Cash Flows (Unaudited)](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows%20(Unaudited)) For the first quarter of 2025, net cash used in operating activities was **$11.6 million**, an increase from **$9.8 million** in the prior year period, primarily due to changes in operating assets and liabilities, including a significant decrease in accrued compensation. There were no cash flows from investing activities. Net cash provided by financing activities was minimal at **$16,000**. This resulted in a net decrease in cash and cash equivalents of **$11.6 million**, ending the period with **$108.8 million** Cash Flow Summary (in thousands) | Cash Flow Activity | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Net cash used in operating activities | $(11,605) | $(9,786) | | Net cash used in investing activities | $0 | $(117) | | Net cash provided by (used in) financing activities | $16 | $(942) | | **Net change in cash and cash equivalents** | **$(11,589)** | **$(10,845)** | [Notes to Condensed Consolidated Financial Statements (Unaudited)](index=9&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements%20(Unaudited)) The notes detail the company's business segments (Surgical Glaucoma and Dry Eye), significant accounting policies, and liquidity situation, noting a history of losses and an accumulated deficit of **$360.5 million**. Key disclosures include details on the **$40.0 million** outstanding debt under the Hercules Loan Agreement, a positive **$34 million** jury verdict in a patent lawsuit against Alcon that is not yet final, and segment performance showing Surgical Glaucoma as the primary revenue driver - The company operates in two segments: Surgical Glaucoma (OMNI® and SION® products) and Dry Eye (TearCare® System)[29](index=29&type=chunk) - As of March 31, 2025, the company had an accumulated deficit of **$360.5 million** and expects to incur additional losses. Management believes current cash is sufficient for at least the next **12 months**[30](index=30&type=chunk)[31](index=31&type=chunk) - In January 2024, the company entered into a loan agreement with Hercules Capital for up to **$65.0 million**; as of March 31, 2025, **$40.0 million** was outstanding[52](index=52&type=chunk)[59](index=59&type=chunk) - The company was awarded a **$34 million** positive jury verdict in a patent infringement lawsuit against Alcon/Ivantis in April 2024. The judgment has not yet been entered and is subject to appeal[67](index=67&type=chunk) Segment Performance - Q1 2025 vs Q1 2024 (in thousands) | Segment | Revenue (Q1 2025) | Revenue (Q1 2024) | Gross Profit (Q1 2025) | Gross Profit (Q1 2024) | | :--- | :--- | :--- | :--- | :--- | | Surgical Glaucoma | $17,114 | $18,257 | $14,816 | $16,048 | | Dry Eye | $394 | $1,008 | $278 | $424 | | **Total** | **$17,508** | **$19,265** | **$15,094** | **$16,472** | [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=22&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the **9.1%** year-over-year revenue decline in Q1 2025, attributing the **6.3%** drop in Surgical Glaucoma revenue to reimbursement changes and competition, and the **60.9%** drop in Dry Eye revenue to a strategic price increase that reduced demand. Despite lower revenue, the net loss improved due to reduced operating expenses, particularly a **$2.9 million** decrease in legal costs. The company ended the quarter with **$108.8 million** in cash and believes it has sufficient liquidity for the next **12 months**, supported by its existing cash and the Hercules debt facility [Results of Operations](index=27&type=section&id=Results%20of%20Operations) Total revenue for Q1 2025 decreased by **$1.8 million** (**9.1%**) to **$17.5 million** compared to Q1 2024. Surgical Glaucoma revenue fell **6.3%** due to lower OMNI unit sales, impacted by Medicare reimbursement restrictions. Dry Eye revenue fell **60.9%** due to a price increase and a strategic shift away from cash-pay models. Gross margin improved slightly to **86.2%** from **85.5%**. Operating expenses decreased by **7.2%** to **$29.0 million**, driven by a **$2.0 million** reduction in SG&A, which led to a smaller loss from operations of **$13.9 million** Results of Operations Comparison (in thousands) | Metric | Q1 2025 | Q1 2024 | Change ($) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Total Revenue | $17,508 | $19,265 | $(1,757) | (9.1)% | | - Surgical Glaucoma | $17,114 | $18,257 | $(1,143) | (6.3)% | | - Dry Eye | $394 | $1,008 | $(614) | (60.9)% | | Gross Profit | $15,094 | $16,472 | $(1,378) | (8.4)% | | Total Operating Expenses | $28,953 | $31,195 | $(2,242) | (7.2)% | | Loss from Operations | $(13,859) | $(14,723) | $864 | 5.9% | - The decrease in Surgical Glaucoma revenue was primarily driven by lower OMNI unit utilization due to restrictions on multiple MIGS procedures by several Medicare Administrative Contractors (MACS)[131](index=131&type=chunk) - The decrease in Dry Eye revenue was due to lower demand following a price increase effective October 1, 2024, as part of a strategy to achieve reimbursed market access[131](index=131&type=chunk) - SG&A expenses decreased by **$2.0 million**, primarily driven by a **$2.9 million** reduction in legal expenses[136](index=136&type=chunk) [Liquidity and Capital Resources](index=30&type=section&id=Liquidity%20and%20Capital%20Resources) The company's primary sources of liquidity are its cash reserves, product sales, and a debt facility with Hercules Capital. As of March 31, 2025, the company had **$108.8 million** in cash and cash equivalents and **$40.0 million** in outstanding debt. Management asserts that these resources are sufficient to fund operations for at least the next **12 months**. The Hercules loan agreement provides for up to **$65.0 million** in total financing, with additional tranches available contingent on performance milestones or lender approval, though the company does not expect to meet the upcoming milestone - As of March 31, 2025, the company had cash and cash equivalents of **$108.8 million** and an outstanding term loan balance of **$40.0 million**[117](index=117&type=chunk)[145](index=145&type=chunk) - Management believes existing cash and available borrowings will be sufficient to fund operations for at least the next **12 months**[145](index=145&type=chunk) - The Hercules Loan Agreement provides for a total facility of up to **$65.0 million**. An additional **$10.0 million** tranche is available through September 2025, but the company does not anticipate achieving the required performance milestones[148](index=148&type=chunk)[149](index=149&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=33&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company's primary market risk exposure is to interest rate fluctuations, which affects its cash equivalents and its floating-rate debt under the Hercules Loan Agreement. Management states that due to the short-term nature of its investments and the current terms of its debt, a hypothetical **1%** change in interest rates would not have a material impact on its financial statements - The company's main market risk is interest rate risk related to its cash, cash equivalents, and the floating-rate Hercules Loan Agreement[161](index=161&type=chunk) - A hypothetical **100 basis point** (**1.0%**) change in interest rates is not expected to have a material impact on the financial statements[163](index=163&type=chunk) [Item 4. Controls and Procedures](index=33&type=section&id=Item%204.%20Controls%20and%20Procedures) Management, including the CEO and CFO, evaluated the company's disclosure controls and procedures and concluded they were effective as of March 31, 2025. There were no material changes to the company's internal control over financial reporting during the quarter - Management concluded that as of March 31, 2025, the company's disclosure controls and procedures were effective[165](index=165&type=chunk) - No changes in internal control over financial reporting occurred during the quarter that have materially affected, or are reasonably likely to materially affect, internal controls[166](index=166&type=chunk) PART II. OTHER INFORMATION [Item 1. Legal Proceedings](index=34&type=section&id=Item%201.%20Legal%20Proceedings) The company refers to Note 6 of the financial statements, which details its patent infringement lawsuit against Ivantis, Inc. and Alcon. A jury awarded the company **$34 million** in damages in April 2024, but the final judgment has not been entered and is subject to appeal. No other material legal proceedings are reported - Details on legal proceedings are provided in Note 6, Commitments and Contingencies[168](index=168&type=chunk) - The company received a positive jury verdict of **$34 million** in its patent lawsuit against Alcon/Ivantis, but the judgment is not yet final and is subject to appeal[67](index=67&type=chunk) [Item 1A. Risk Factors](index=34&type=page&id=Item%201A.%20Risk%20Factors) The company highlights its significant reliance on third-party, single-source suppliers, with a substantial portion of its products manufactured in China. This exposes the company to geopolitical risks and tariffs. The U.S. tariff on products from China, currently at **145%**, is expected to increase costs and negatively impact gross margins. While the company is exploring manufacturing alternatives outside of China, this process is costly and time-consuming - The company relies on a limited number of third-party manufacturers, many of which are single-source suppliers[171](index=171&type=chunk) - A substantial portion of products, including OMNI, SION, and TearCare SmartLids, are produced by a single manufacturer in China, creating significant concentration risk[171](index=171&type=chunk) - A U.S. tariff of **145%** on products imported from China, effective February 2025, will increase product costs and negatively impact gross margins[173](index=173&type=chunk) - The company is evaluating additional manufacturing locations outside of China to mitigate tariff and supply chain risks, but expects the majority of production to remain in China through 2025 and into 2026[174](index=174&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=37&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company reported no unregistered sales of equity securities during the period. There has been no material change in the planned use of proceeds from its Initial Public Offering (IPO) in July 2021 - There has been no material change in the planned use of proceeds from the company's IPO[180](index=180&type=chunk) - There were no unregistered sales of equity securities or issuer repurchases of equity securities during the quarter[181](index=181&type=chunk)[182](index=182&type=chunk) [Item 5. Other Information](index=37&type=section&id=Item%205.%20Other%20Information) During the three months ended March 31, 2025, none of the company's directors or officers adopted, terminated, or modified a Rule 10b5-1 trading plan or a non-Rule 10b5-1 trading arrangement - No directors or officers adopted, terminated, or modified a Rule 10b5-1 trading arrangement in Q1 2025[186](index=186&type=chunk)

[Sight Sciences Q1 2025 Earnings Release](index=1&type=section&id=Sight%20Sciences%20Q1%202025%20Earnings%20Release) [Overview and Highlights](index=1&type=section&id=Overview%20and%20Highlights) Sight Sciences reported a 9% year-over-year revenue decrease to $17.5 million in Q1 2025, maintaining an 86% gross margin and launching the OMNI Edge Surgical System - The company is focused on strategic initiatives including building commercial momentum in MIGS, establishing equitable reimbursement for TearCare®, publishing new data, and advancing its product pipeline[3](index=3&type=chunk) - Successfully launched OMNI Edge with TruSync™ technology at the ASCRS Annual Meeting in April, designed to deliver more viscodilation while maintaining the safety of the OMNI platform[4](index=4&type=chunk) - Management expressed confidence that consistent execution of strategic initiatives will make 2025 a transformational year for the business, despite the dynamic market environment[3](index=3&type=chunk) [First Quarter 2025 Financial Performance](index=1&type=section&id=First%20Quarter%202025%20Financial%20Performance) In Q1 2025, total revenue decreased by 9% to $17.5 million, driven by a 6% decline in Surgical Glaucoma revenue, while gross margin remained stable at 86% and net loss improved Q1 2025 Key Financial Results (vs. Q1 2024) | Financial Metric | Q1 2025 | Q1 2024 | Change | | :--- | :--- | :--- | :--- | | Total Revenue | $17.5M | $19.3M | -9% | | Gross Profit | $15.1M | $16.5M | -8.5% | | Gross Margin | 86% | 86% | 0% | | Total Operating Expenses | $29.0M | $31.2M | -7% | | Net Loss | ($14.2M) | ($16.3M) | +12.9% | | Net Loss Per Share | ($0.28) | ($0.33) | +15.2% | Q1 2025 Revenue by Segment (vs. Q1 2024) | Segment | Q1 2025 Revenue | Q1 2024 Revenue | Change | | :--- | :--- | :--- | :--- | | Surgical Glaucoma | $17.1M | $18.3M | -6% | | Dry Eye | $0.4M | $1.0M | -60% | - The decline in Surgical Glaucoma revenue was expected and primarily caused by new Medicare LCDs restricting coverage for multiple MIGS procedures performed with cataract surgery[4](index=4&type=chunk)[5](index=5&type=chunk) - The decrease in Dry Eye revenue was due to fewer SmartLids® sales as the company shifted focus from cash-pay to achieving reimbursed market access for TearCare procedures[5](index=5&type=chunk) - As of March 31, 2025, cash and cash equivalents were **$108.8 million**, and total long-term debt was **$40.0 million**; cash used in the quarter was **$11.6 million**[9](index=9&type=chunk) [2025 Financial Guidance](index=2&type=section&id=2025%20Financial%20Guidance) Sight Sciences reaffirmed its full-year 2025 revenue guidance of $70.0 million to $75.0 million, while improving its adjusted operating expense outlook to $101.0 million to $105.0 million Full Year 2025 Financial Guidance | Metric | Guidance Range | YoY Change vs. 2024 | Prior Guidance | | :--- | :--- | :--- | :--- | | Revenue | $70.0M - $75.0M | -6% to -12% | Reaffirmed | | Adjusted Operating Expenses | $101.0M - $105.0M | 0% to +4% | $105.0M - $107.0M | - Revenue guidance assumes the continued impact of new Medicare LCDs that restrict coverage for multiple MIGS procedures combined with cataract surgery[10](index=10&type=chunk) - The guidance for the Dry Eye segment assumes approximately **$1.0 million** in revenue and does not factor in any potential positive reimbursement decisions for TearCare in 2025[10](index=10&type=chunk) - The company anticipates that U.S. tariffs on products from China will increase the Surgical Glaucoma segment's cost of goods sold by approximately **$3.5 million to $4.5 million** for the full year 2025[12](index=12&type=chunk) [Financial Statements](index=6&type=section&id=Financial%20Statements) [Consolidated Statements of Operations](index=7&type=section&id=Consolidated%20Statements%20of%20Operations) For Q1 2025, the company reported $17.5 million in revenue and a net loss of $14.2 million, representing an improvement from the prior year's net loss Consolidated Statements of Operations (Unaudited, in thousands) | | Three Months Ended March 31, | | | :--- | :--- | :--- | | | **2025** | **2024** | | Revenue | $17,508 | $19,265 | | Gross Profit | $15,094 | $16,472 | | Loss from Operations | ($13,859) | ($14,723) | | Net Loss | ($14,154) | ($16,266) | | Net Loss Per Share | ($0.28) | ($0.33) | [Consolidated Balance Sheets](index=6&type=section&id=Consolidated%20Balance%20Sheets) As of March 31, 2025, Sight Sciences reported total assets of $129.7 million, with $108.8 million in cash and cash equivalents, and total stockholders' equity of $77.6 million Consolidated Balance Sheet Highlights (Unaudited, in thousands) | | March 31, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Cash and cash equivalents | $108,768 | $120,357 | | Total current assets | $126,906 | $139,774 | | Total assets | $129,680 | $142,839 | | Long-term debt, net | $39,583 | $39,356 | | Total liabilities | $52,052 | $55,316 | | Total stockholders' equity | $77,628 | $87,523 | [Segment and Margin Analysis](index=8&type=section&id=Segment%20and%20Margin%20Analysis) In Q1 2025, Surgical Glaucoma generated $17.1 million in revenue with an 86.6% gross margin, while Dry Eye revenue was $0.4 million with a significantly improved 70.6% gross margin Gross Margin Disaggregation (Unaudited, in thousands) | | Three Months Ended March 31, 2025 | Three Months Ended March 31, 2024 | | :--- | :--- | :--- | | **Surgical Glaucoma** | | | | Revenue | $17,114 | $18,257 | | Gross Profit | $14,816 | $16,048 | | Gross Margin | 86.6% | 87.9% | | **Dry Eye** | | | | Revenue | $394 | $1,008 | | Gross Profit | $278 | $424 | | Gross Margin | 70.6% | 42.1% | Supplemental Financial Measures (Unaudited) | | Three Months Ended March 31, | | | :--- | :--- | :--- | | | **2025** | **2024** | | Surgical Glaucoma active customers | 1,108 | 1,073 | | Dry Eye lid treatment units sold | 1,029 | 4,011 | | Dry Eye active customers | 75 | 288 | [GAAP to Non-GAAP Reconciliation](index=8&type=section&id=GAAP%20to%20Non-GAAP%20Reconciliation) For Q1 2025, GAAP total operating expenses of $29.0 million were reconciled to non-GAAP adjusted operating expenses of $24.7 million, primarily by excluding stock-based compensation GAAP to Non-GAAP Reconciliation (Unaudited, in thousands) | | Three Months Ended March 31, | | | :--- | :--- | :--- | | | **2025** | **2024** | | Total Operating Expenses (GAAP) | $28,953 | $31,195 | | Less: Stock-based Compensation | (4,128) | (4,400) | | Less: Depreciation and Amortization | (149) | (192) | | Adjusted Operating Expenses (Non-GAAP) | $24,676 | $26,603 |

Core Insights - Sight Sciences, Inc. reported a revenue of $17.5 million for Q1 2025, a 9% decrease compared to the same period in the previous year, primarily due to lower Surgical Glaucoma revenue and fewer Dry Eye product sales [4][7][10] - The company reaffirmed its revenue guidance for the full year 2025, expecting approximately $70.0 million to $75.0 million, reflecting a 6% to 12% decline compared to 2024 [10] - Adjusted operating expenses guidance for 2025 has improved, now expected to be approximately $101.0 million to $105.0 million, representing a 0% to 4% increase compared to 2024 [11] Financial Performance - Surgical Glaucoma revenue was $17.1 million, down 6% year-over-year, attributed to a 10% decrease in account utilization due to Medicare restrictions [4][10] - Dry Eye revenue decreased to $0.4 million from $1.0 million in the prior year, mainly due to a focus on reimbursed market access for TearCare [4][10] - Gross profit for Q1 2025 was $15.1 million, with a gross margin of 86%, unchanged from the previous year [5][7] Operating Expenses - Total operating expenses were $29.0 million, a 7% decrease from $31.2 million in the prior year, driven by lower legal expenses [6][7] - Research and development expenses were $4.4 million, down 4% year-over-year, while selling, general, and administrative expenses decreased by 8% to $24.5 million [6][7] Net Loss and Cash Position - The net loss for Q1 2025 was $14.2 million, or $0.28 per share, an improvement from a net loss of $16.3 million, or $0.33 per share, in the same period last year [8][29] - As of March 31, 2025, cash and cash equivalents totaled $108.8 million, down from $120.4 million at the end of 2024 [9][26] Strategic Initiatives - The company is focused on building commercial momentum in minimally invasive glaucoma surgery (MIGS) and establishing equitable reimbursement for TearCare, alongside advancing its product pipeline [3][10] - The recent launch of OMNI Edge at the ASCRS Annual Meeting is part of the company's strategy to enhance its product offerings [7][10]

Core Viewpoint - Sight Sciences, Inc. is set to report its financial results for Q1 2025 on May 8, 2025, with a conference call scheduled to discuss the results [1] Company Overview - Sight Sciences is an eyecare technology company focused on developing innovative interventional solutions to improve patient care and address prevalent eye diseases [3] - The company's OMNI® Surgical System is designed for glaucoma surgery, indicated for reducing intraocular pressure in adult patients with primary open-angle glaucoma [3] - The SION® Surgical Instrument is a bladeless device used in ophthalmic procedures to excise trabecular meshwork [3] - The TearCare® System is cleared for localized heat therapy in adult patients with evaporative dry eye disease, addressing meibomian gland disease [3]

The Sustainability Report provides data for 2022 through 2024 on the Company’s environmental, social, and governance initiativesMENLO PARK, Calif., April 23, 2025 (GLOBE NEWSWIRE) -- Sight Sciences, Inc. (Nasdaq: SGHT), an eyecare technology company focused on developing and commercializing innovative, interventional technologies that elevate the standard of care, announced today that it has published its annual Sustainability Report, highlighting the Company’s sustainability activities, performance and res ...

Core Viewpoint - Sight Sciences, Inc. has launched the OMNI Edge Surgical System, enhancing its OMNI product family with advanced features for minimally invasive glaucoma surgery (MIGS) [1][2][5] Product Features - OMNI Edge incorporates TruSync™ technology, which synchronizes viscoelastic delivery with the surgeon's control, allowing for consistent deployment along Schlemm's canal [2][13] - The system features an expanded viscoelastic capacity of 21 µL, nearly double the previous 11 µL capacity of the OMNI Surgical System, while maintaining safety and usability [2][13] - OMNI Edge is designed to treat all three areas of resistance in the aqueous outflow system, making it versatile for various stages of primary open-angle glaucoma (POAG) [2][7] Clinical Insights - Early clinical use of OMNI Edge has been positively received, with enhancements in ergonomics and predictability noted by practitioners [3] - The OMNI procedure has demonstrated safety, effectiveness, and durability in over 300,000 procedures, establishing its leadership in canal-based MIGS [4] Market Position - The introduction of OMNI Edge allows surgeons to choose between OMNI and OMNI Edge technologies, catering to diverse surgical preferences and patient needs [5] - OMNI Edge is currently available only in the United States, indicating a focused market strategy [5] Company Commitment - Sight Sciences emphasizes its dedication to innovation in glaucoma care through ongoing collaboration with the ophthalmic community [4]

Core Insights - Sight Sciences, Inc. is an eyecare technology company focused on developing innovative interventional technologies to transform care and improve patients' lives [1][3] - The company will present at the 24th Annual Needham Healthcare Conference on April 8, 2025 [2] Company Overview - Sight Sciences aims to create effective treatment paradigms for prevalent eye diseases using minimally invasive or non-invasive approaches [3] - The OMNI Surgical System is designed for glaucoma surgery, indicated to reduce intraocular pressure in adult patients with primary open-angle glaucoma in the U.S. and CE Marked for specific procedures in Europe [3] - The SION Surgical Instrument is a bladeless device for excising trabecular meshwork in ophthalmic surgeries [3] - The TearCare System is cleared in the U.S. for localized heat therapy in adult patients with evaporative dry eye disease due to meibomian gland disease, addressing the leading cause of dry eye [3]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION For the fiscal year ended December 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number 001-40587 SIGHT SCIENCES, INC. (Exact name of Registrant as specified in its Charter) Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Delaware 80-0625749 (State or other jurisdiction of ...