Sight Sciences Reports Third Quarter 2025 Financial Results and Raises Full Year 2025 Revenue Guidance

Core Insights - Sight Sciences, Inc. reported a total revenue of $19.9 million for Q3 2025, a decrease of 1% year-over-year, with Surgical Glaucoma revenue increasing by 6% to $19.7 million, while Dry Eye revenue fell by 88% to $0.2 million due to a focus on achieving reimbursed market access for TearCare procedures [6][8][11]. Financial Performance - The gross profit for Q3 2025 was $17.2 million, with a gross margin of 86%, up from 84% in the same period last year [9]. - Total operating expenses decreased by 11% to $25.1 million, including $2.8 million in restructuring costs [10]. - The net loss for Q3 2025 was $8.2 million, or a loss of $0.16 per share, an improvement from a net loss of $11.1 million, or a loss of $0.22 per share, in the prior year [11]. Business Highlights - The company achieved a record high of 1,197 Surgical Glaucoma ordering accounts, an increase of 8% compared to the same period last year [6]. - Recent milestones include the establishment of new fee schedules for TearCare by two Medicare Administrative Contractors, covering approximately 10.4 million lives [6][8]. - UnitedHealthcare expanded coverage for glaucoma surgical treatments, effective October 1, 2025, impacting approximately 30 million covered lives [6][8]. Guidance and Outlook - The company raised its revenue guidance for the full year 2025 to between $76.0 million and $78.0 million, reflecting a 2% to 5% decline compared to 2024 [13]. - Adjusted operating expenses guidance for 2025 was reduced to $90 million to $92 million, representing a decrease of 9% to 11% compared to 2024 [14].