Sight Sciences, Inc. reported its financial results for the third quarter of 2025, revealing a total revenue of $19.9 million, a slight decrease of 1.2% from $20.2 million in the same period last year. The company's Surgical Glaucoma segment generated $19.7 million, reflecting a 5.8% increase from $18.6 million in the prior year, primarily due to higher sales volumes and average selling prices. In contrast, revenue from the Dry Eye segment plummeted by 87.7% to $0.2 million, down from $1.5 million, attributed to decreased demand following a price increase for the TearCare product line.
For the nine months ending September 30, 2025, total revenue was $57.0 million, down 6.3% from $60.8 million in the same period of 2024. The Surgical Glaucoma segment accounted for $56.1 million, a decrease of 1.9%, while the Dry Eye segment saw a significant decline of 75% to $0.9 million. The overall decline in revenue was influenced by changes in reimbursement coverage and increased competition in the minimally invasive glaucoma surgery market.
The company reported a net loss of $8.2 million for the third quarter, an improvement from a loss of $11.1 million in the same quarter of 2024. For the nine-month period, the net loss was $34.3 million, compared to a loss of $39.7 million in the prior year. The reduction in losses was attributed to lower operating expenses, which decreased by 10.8% to $25.1 million in the third quarter, driven by cost-cutting measures including a targeted reduction in workforce that affected approximately 20% of the global staff.
Sight Sciences has also made strategic moves to enhance its operational efficiency, including a restructuring plan that incurred approximately $2.8 million in expenses during the third quarter. The company is focusing on expanding its market presence, particularly in the U.S. and Europe, where it has established direct commercial operations. As of September 30, 2025, the company had cash and cash equivalents of $92.4 million, down from $120.4 million at the end of 2024, and an accumulated deficit of $380.6 million.
Looking ahead, Sight Sciences anticipates continued challenges in revenue generation due to competitive pressures and reimbursement uncertainties. The company plans to invest in product development and market access initiatives while managing costs to achieve long-term profitability. The recent establishment of jurisdiction-wide pricing for its TearCare product by two Medicare Administrative Contractors is expected to improve demand in the upcoming quarters, although the company remains cautious about the overall market conditions and potential need for additional financing.
About Sight Sciences, Inc.
Sight Sciences, Inc. develops interventional ophthalmic technologies targeting prevalent eye diseases like glaucoma and dry eye. Its core products include MIGS devices (OMNI, SION) for glaucoma and TearCare for dry eye, used by eye care professionals worldwide. The company's solutions focus on restoring natural eye function through evidence-based, minimally invasive procedures, emphasizing clinical efficacy, patient comfort, and market access to improve patient outcomes.
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