Sight Sciences (SGHT) Q2 2026 earnings summary

Executive summary

• Q2 2026 revenue reached $23.4 million, up 20% year-over-year, with both Interventional Glaucoma and Interventional Dry Eye segments contributing to growth.

• Net loss narrowed to $4.4 million, a 63% improvement YoY, reflecting improved gross margins and reduced operating expenses.

• Gross margin increased to 91% (91.4% in some reports), up from 85% YoY, driven by tariff refunds, higher average selling prices, and favorable product mix.

• Raised full-year 2026 revenue guidance to $88–92 million and reduced adjusted operating expense guidance, reflecting strong operational execution.

• Maintained strong cash position of $79.8 million as of June 30, 2026, with sufficient liquidity for at least the next 12 months.

Financial highlights

• Q2 2026 total revenue: $23.4 million (+20% YoY); Interventional Glaucoma: $20.7 million (+8% YoY); Interventional Dry Eye: $2.7 million (+704% YoY).

• Gross margin: 91% (including one-time items); glaucoma segment 92% (with refunds), dry eye 85% (with refunds).

• Operating expenses decreased 11% YoY to $25.3 million; adjusted OpEx was $22.3 million, down 8%.

• Net loss per share improved to $0.08 from $0.23 prior year.

• Ended Q2 with $79.8 million in cash and $40 million in debt.

Outlook and guidance

• Full-year 2026 revenue guidance raised to $88–92 million (14–19% YoY growth), up from $83–$89 million.

• Interventional Glaucoma revenue guidance narrowed to $79–$81 million; Dry Eye guidance raised to $9–$11 million.

• Adjusted operating expenses guidance reduced to $92–94 million (5–7% increase YoY, lower than prior guidance).

• Q3 2026 revenue expected to grow mid to high teens YoY; Dry Eye revenue projected at ~$3 million.

• Management expects continued investment in product development, market access, and clinical studies, with ongoing net losses anticipated for the next several years.