Sight Sciences (SGHT) Q1 2026 earnings summary

Executive summary

• Q1 2026 revenue reached $19.7 million, up 13% year-over-year, with double-digit growth in both Interventional Glaucoma and Interventional Dry Eye segments.

• Net loss narrowed to $13.0 million ($0.24 per share) from $14.2 million ($0.28 per share) year-over-year.

• Gross margin remained strong at 86% overall; Glaucoma at 87%, Dry Eye at 72%.

• Cash and cash equivalents stood at $85.0 million as of March 31, 2026; cash usage reduced by 40% to $7.0 million.

• Raised full-year 2026 revenue guidance to $83–$89 million, representing 7–15% growth over 2025.

Financial highlights

• Interventional Glaucoma revenue was $18.3 million (+7% YoY); Interventional Dry Eye revenue was $1.4 million (+244% YoY, nearly doubling sequentially).

• Gross profit for Q1 2026 was $17.0 million, up from $15.1 million year-over-year.

• Total operating expenses were $29.4 million, up 2% year-over-year, including a $5.4 million one-time litigation success fee.

• Adjusted operating expenses decreased 14% to $21.2 million.

• Long-term debt stood at $40.0 million as of March 31, 2026.

Outlook and guidance

• Full-year 2026 revenue guidance raised to $83–$89 million (7–15% growth), with Interventional Glaucoma at $77–$81 million and Interventional Dry Eye at $6–$8 million.

• Adjusted operating expenses for 2026 expected at $93–$96 million, up 6–9% due to targeted investments.

• Q2 2026 revenue expected to grow low double digits YoY; Dry Eye revenue expected at $1.5–$2 million.

• Management expects continued net losses for several years as investments in product development, market access, and commercialization persist.

• Cash and liquidity are expected to be sufficient for at least the next 12 months.