Sight Sciences
Develops interventional devices for glaucoma surgery and dry eye treatment.
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Profile
Sells OMNI and SION devices for interventional glaucoma and TearCare for evaporative dry eye. Revenue is concentrated in the United States and mainly comes from glaucoma products sold to hospitals, medical centers, and eyecare professionals.
Built around interventional ophthalmic procedures, the business sells OMNI products, including OMNI Edge and Ergo Series systems, plus the SION Surgical Instrument for glaucoma procedures. TearCare and related components address evaporative dry eye linked to meibomian gland dysfunction.
Sales are concentrated in the United States, primarily through representatives and distributors serving hospitals, medical centers, and eyecare professionals. The commercial base is anchored by glaucoma products, while dry eye remains tied to broader reimbursement and market-access work.
Execution depends on physician training, practice patterns, patient selection, and payer coverage for the relevant procedures. Competition includes other MIGS products and dry-eye treatment systems, so adoption is shaped by clinical workflow, reimbursement timing, and new product activity.
Company facts
Categories
Key statistics
Year to date +14.0% · Average volume (30d) 267.7K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Jul 28, 2026 | UBS | Target | $12 | $7 | ||
| Mar 2, 2026 | Cantor Fitzgerald | Target | $8 | |||
| Jan 5, 2026 | Piper Sandler | Upgrade | Neutral | Overweight | $4 | $9 |
| Jan 5, 2026 | Raymond James | Target | $9 | |||
| Dec 22, 2025 | UBS | Target | $12 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 5, 2026Q2 FY26 | −$0.18 | −$0.08 | +56.4% | $21.7M | $23.4M | +7.7% | +27.75% |
| May 6, 2026Q1 FY26 | −$0.19 | −$0.16 | +15.8% | $18.5M | $19.7M | +6.7% | +23.02% |
| Mar 4, 2026Q4 FY25 | −$0.15 | −$0.08 | +46.7% | $20.3M | $20.4M | +0.2% | −26.80% |
| Nov 6, 2025Q3 FY25 | −$0.26 | −$0.16 | +38.5% | $20.4M | $19.9M | −2.2% | +16.40% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $17.5M | $19.6M | $19.9M | $20.4M | $19.7M | $23.4M | |
| Gross profit | $15.1M | $16.6M | $17.2M | $17.8M | $17.0M | $21.4M | |
| Operating income | −$13.9M | −$11.7M | −$7.9M | −$3.7M | −$12.4M | −$3.9M | |
| Net income | −$14.2M | −$11.9M | −$8.2M | −$4.2M | −$13.0M | −$4.4M | |
| Diluted EPS | −$0.28 | −$0.23 | −$0.16 | −$0.08 | −$0.24 | −$0.08 | |
| Gross margin | 86.2% | 84.8% | 86.4% | 87.3% | 86.2% | 91.4% | |
| Operating margin | -79.2% | -59.6% | -39.7% | -18.0% | -63.0% | -16.6% |
Fiscal years (4-quarter sums)FY21 $49.0M · FY22 $71.3M · FY23 $81.1M · FY24 $79.9M · FY25 $77.4M
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $79.8M · Total debt $42.0M · Total assets $104.9M · Shareholders' equity $52.9M
Dividends
No dividends on record.
Ownership
Shares outstanding 54.41M · Float 35.12M · 64.5% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Staffan Encrantz · director, 10 percent owner: | 6.52M | 11.99% | Form 4 | Jun 11, 2026 |
| Paul Badawi · director, 10 percent owner, officer: President and CEO | 6.12M | 11.25% | Form 4 | Jul 6, 2026 |
| Long Focus Capital Management, LLC | 3.59M | 6.61% | 13F | May 15, 2026 |
| BlackRock, Inc. | 2.83M | 5.20% | 13F | May 13, 2026 |
| Pathstone Holdings, LLC | 2.40M | 4.41% | 13F | May 11, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jul 1, 2026 | Paul Badawi | director, 10 percent owner, officer: President and CEO | −28,684 | $5.42 |
| Jul 2, 2026 | Alison Bauerlein | officer: Chief Operating Officer | −24,184 | $5.36 |
| Jul 1, 2026 | Brenton Taylor | officer: EVP, Operations & R&D | −2,829 | $5.42 |
| Jul 6, 2026 | David Badawi | director, officer: Chief Technology Officer | −7,418 | $5.51 |
| Jul 2, 2026 | James Rodberg | officer: Chief Financial Officer | −6,902 | $5.36 |
Peers
- Glaukos
MIGS stents and sustained glaucoma implants
- Alcon
Hydrus and iLux span glaucoma and dry-eye procedures
- AbbVie
XEN, Durysta, and Restasis challenge eye-care adoption
- National Vision
Canaloplasty devices closest to OMNI's implant-free lane
- Johnson & Johnson
LipiFlow is a direct MGD procedure alternative
- Bausch + Lomb
Prescription dry-eye drugs pressure TearCare's alternatives
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Sight Sciences | $8.55 | +0.23% | $465.2M | — | — | 5.6 | +19.6% |
| Glaukos | $179.87 | −0.01% | $10.61B | — | 1,404.1 | 17.3 | +49.5% |
| Alcon | $72.15 | +0.21% | $35.12B | 55.4 | 18.6 | 3.3 | +7.5% |
| AbbVie | $255.80 | +0.13% | $451.38B | 72.0 | 16.8 | 7.0 | +10.2% |
| National Vision | $17.38 | +0.06% | $1.39B | 28.4 | 16.1 | 0.7 | +2.6% |
| Johnson & Johnson | $268.40 | +0.13% | $645.95B | 31.1 | 22.4 | 6.6 | +6.6% |
| Bausch + Lomb | $17.15 | 0.00% | $6.13B | — | 17.2 | 1.2 | +9.1% |
| Median | 43.2 | 17.9 | 4.9 | +8.3% |








