Sight Sciences (SGHT) Stifel 2026 Virtual Ophthalmology Forum summary

Key business drivers and market trends

• Interventional glaucoma is gaining momentum due to years of market education, leading to earlier intervention and better outcomes for patients.

• OMNI technology has proven durable, reliable outcomes, resulting in high customer retention and stable pricing.

• The company is the market leader in implant-free MIGS and is actively developing the standalone glaucoma market with a dedicated team.

• U.S. MIGS market is estimated to grow at low to mid-single digits, with interventional glaucoma as a key tailwind.

• Interventional glaucoma is expected to continue growing, transforming care for a serious disease.

Competitive landscape and innovation

• OMNI is the leader in implant-free MIGS and second overall in MIGS, with ongoing share gains and market expansion efforts.

• OMNI Ultra, the next-generation platform, will feature single-incision 360-degree canal access, automated viscoelastic delivery, and improved ergonomics.

• Customer feedback has driven enhancements in OMNI Ultra, including catheter markings and a shorter handle.

• The company expects to maintain leadership in implant-free MIGS and close the gap in overall market share.

Financial performance and guidance

• Q1 saw strong momentum, especially in March, with expectations for continued growth into Q2 and the rest of the year.

• Guidance for glaucoma is mid-single-digit year-over-year growth for Q2, reflecting a disciplined and conservative approach.

• Standalone glaucoma strategy is being scaled, with significant uplift seen in activated accounts; broader scaling expected in 2027.

• Dry eye business delivered $1.4 million in Q1 sales, ahead of consensus, with strong utilization in key states and synergy with existing glaucoma customers.

• Dry eye revenue guidance for 2026 is $7 million at the midpoint, with potential upside if additional market access is achieved.