Sight Sciences (NASDAQ:SGHT) raised its full-year revenue outlook after reporting record third-quarter sales, driven by growth in its glaucoma business and increased adoption of its TearCare dry eye treatment.
Revenue for the quarter ended September 30, 2026, rose 25% from a year earlier to $24.9 million. The company also narrowed its net loss and reduced cash usage while investing in its commercial operations.
Co-Founder and Chief Executive Officer Paul Badawi said the company’s products have been used in more than 500,000 procedures. He said established glaucoma customer relationships are helping accelerate adoption of TearCare as the company develops an interventional eye care platform spanning both conditions.
Dry Eye Growth and Market Access
Interventional dry eye, or IDE, revenue reached $3.9 million, up 45% from the second quarter. Ordering accounts increased to 222 from 176, while those accounts purchased approximately 4,600 SmartLids, compared with roughly 3,100 in the prior quarter. Average utilization rose to 21 SmartLids per ordering account from 18.
The company raised its full-year IDE revenue outlook to approximately $12 million from a previous range of $9 million to $11 million. Gross margin for the segment rose to 79% from 38% a year earlier, primarily because of higher average selling prices, Chief Financial Officer Jim Rodberg said.
Badawi said the Food and Drug Administration expanded TearCare’s label earlier in the quarter, making it the first and only treatment for meibomian gland dysfunction indicated to improve gland function in patients with dry eye disease. Chief Operating Officer Ali Bauerlein said field reaction to the expansion has been positive and that it adds to the evidence the company presents to payers.
Sight Sciences is engaged with Medicare administrative contractors and commercial payers as it seeks to expand coverage. Bauerlein said the company is seeing more individual payments and believes it is close to additional access decisions, but cannot predict their timing. She said current commercial efforts are focused on practices with a larger base of traditional Medicare patients, where fee schedules are established.
Glaucoma Business and Product Launch
Interventional glaucoma, or IG, revenue increased 7% year over year to $21 million, marking the segment’s fifth consecutive quarter of growth. Rodberg attributed the increase primarily to higher volumes, a record number of active accounts and stronger utilization.
The company raised its full-year IG revenue range to $80 million to $81 million from $79 million to $81 million. Badawi also noted that Aetna expanded coverage of OMNI and SION earlier in the quarter, adding approximately 25 million covered lives.
Sight Sciences commercially launched OMNI Ultra in the U.S. in October following an initial limited rollout. Badawi said the next-generation glaucoma technology includes single-pass canaloplasty, automated viscodilation and improved catheter visualization.
The company is also working with practices to increase use of standalone glaucoma procedures, rather than procedures performed alongside cataract surgery. Badawi said the work includes helping practices identify appropriate patients and establish consultation workflows. He said standalone procedures remain a smaller share of the market, although both standalone and combined cataract categories are growing.
Loss Narrows as Revenue Outlook Rises
Third-quarter gross margin was 86%, unchanged from a year earlier. Operating expenses rose 10% to $27.5 million, largely because of personnel costs associated with commercial investments. Adjusted operating expenses increased 21% to $24 million.
The company reported a net loss of $6.8 million, or $0.12 per share, compared with a loss of $8.2 million, or $0.16 per share, a year earlier. Cash used during the quarter fell to $2.4 million from $9.1 million.
Sight Sciences ended the quarter with $77.4 million in cash and cash equivalents and $40 million in debt, excluding unamortized discount and debt issuance costs. In October, it extended the interest-only period on its debt by six months to August 2027. Rodberg characterized the extension as a prudent capital-management decision and said the company remains positioned to reach cash flow break-even without raising additional equity.
For 2026, Sight Sciences now expects total revenue of $92 million to $93 million, up from $88 million to $92 million. It maintained its adjusted operating expense guidance of $92 million to $94 million. Rodberg declined to provide specific 2027 guidance, while saying the company plans to continue targeted investments in commercial resources and market access.
About Sight Sciences (NASDAQ:SGHT)
Sight Sciences, Inc is an ophthalmic medical technology company focused on developing and commercializing products designed to address the underlying causes of certain eye diseases. The company’s portfolio is centered on minimally invasive and non-invasive procedures intended to improve patient outcomes while supporting physicians in the treatment of glaucoma and ocular surface disease.
Its primary products include the OMNI Surgical System, a minimally invasive glaucoma surgery device used to reduce intraocular pressure by improving the eye’s natural fluid outflow pathways, and the TearCare System, a thermal pulsation technology designed to treat meibomian gland dysfunction, a common cause of evaporative dry eye disease.
