Sight Sciences Reports 9.1% Revenue Decline to $17.5 Million in Q1 2025

Sight Sciences, Inc. reported its financial results for the first quarter of 2025, revealing a total revenue of $17.5 million, a decline of 9.1% from $19.3 million in the same period last year. The decrease was primarily driven by a 6.3% drop in revenue from the Surgical Glaucoma segment, which generated $17.1 million compared to $18.3 million in the prior year. The Dry Eye segment experienced a more significant decline, with revenue falling 60.9% to $394,000 from $1 million. The company recorded a net loss of $14.2 million, an improvement from the $16.3 million loss reported in the first quarter of 2024.

In terms of operational metrics, Sight Sciences noted that it has achieved over 300,000 estimated uses of its Surgical Glaucoma products across more than 2,100 hospitals and ambulatory surgery centers in the U.S. and Europe. The company also reported over 65,000 estimated uses of its TearCare product in more than 1,500 eyecare facilities in the U.S. as of March 31, 2025. The decline in revenue was attributed to several factors, including changes in reimbursement policies and increased competition in the minimally invasive glaucoma surgery (MIGS) market, particularly affecting the utilization of the OMNI device.

The company’s total operating expenses decreased to $29 million from $31.2 million year-over-year, reflecting a reduction in both research and development expenses and selling, general, and administrative costs. The gross profit for the quarter was $15.1 million, resulting in a gross margin of 86.2%, up from 85.5% in the previous year. The Surgical Glaucoma segment maintained a gross margin of 86.6%, while the Dry Eye segment saw an increase to 70.6% due to a price increase for TearCare products.

Looking ahead, Sight Sciences plans to continue investing in product development and market access initiatives, particularly for its TearCare product, which currently lacks significant reimbursement coverage. The company is also focused on expanding its commercial capabilities and enhancing its product offerings. As of March 31, 2025, Sight Sciences had cash and cash equivalents of $108.8 million and an accumulated deficit of $360.5 million. The company anticipates that its current liquidity will support its operations for at least the next 12 months, although it may seek additional financing to fund future growth initiatives.