Sight Sciences Reports Fourth Quarter and Full Year 2024 Financial Results and Initiates Full Year 2025 Financial Guidance

Core Insights - Sight Sciences, Inc. reported financial results for Q4 and full year 2024, with a focus on advancing strategic initiatives for 2025 [1][4][15] Recent Financial Highlights - Q4 2024 revenue was $19.1 million, a 2% increase year-over-year, while full year 2024 revenue was $79.9 million, a 1% decrease compared to 2023 [5][10] - Surgical Glaucoma revenue for Q4 2024 was $18.8 million, up 9% year-over-year, driven by a 7% increase in ordering accounts and a 6% increase in account utilization [5][10] - Dry Eye revenue for Q4 2024 was $0.3 million, down from $1.6 million in the same period last year, attributed to fewer SmartLids sales [5][10] - Gross profit for Q4 2024 was $16.6 million, with a gross margin of 87%, compared to 85% in the prior year [6][11] - Full year 2024 operating expenses were reduced to $118.8 million, a 6% decrease from 2023 [12] Recent Business and Clinical Highlights - The company published a 36-month analysis demonstrating the long-term effectiveness of the OMNI Surgical System for managing glaucoma, showing significant reductions in intraocular pressure [6] - A Budget Impact Analysis indicated that a 20% increase in TearCare market share could yield annual savings of approximately $36.87 per member in a hypothetical health plan with one million covered lives [6] Management Commentary - The CEO emphasized the focus on building commercial momentum in the MIGS market, establishing equitable reimbursement for TearCare, and advancing clinical data to support technology adoption [4] - The company anticipates that the OMNI procedure will remain a leading choice for glaucoma treatment despite market fluctuations [4] 2025 Financial Guidance - Revenue for 2025 is expected to range from $70.0 million to $75.0 million, reflecting a 6% to 12% decline compared to 2024, influenced by new Medicare LCDs affecting MIGS procedures [15] - Adjusted operating expenses for 2025 are projected to be between $105.0 million and $107.0 million, representing a 4% to 6% increase compared to 2024 [16]