Sight Sciences Announces Preliminary, Unaudited Fourth Quarter and Full Year 2024 Financial Highlights
Sight Sciences (SGHT) has released preliminary Q4 and FY2024 financial highlights. Q4 2024 total revenue is expected between $18.9-19.1M, up 1% year-over-year, with Surgical Glaucoma revenue increasing 9% to $18.7-18.8M, while Dry Eye revenue declined to $0.2-0.3M from $1.6M.
Full year 2024 revenue is projected at $79.7-79.9M, down 2% from 2023. The company ended 2024 with approximately $120M in cash, generating $1.4M in Q4 (including a $5M term loan drawdown) compared to using $6.4M in Q4 2023. Annual cash usage decreased to $18.1M from $46.9M in 2023.
Performance was impacted by new Medicare LCD restrictions on multiple MIGS procedures during cataract surgery. The company aims to achieve cash flow breakeven without additional equity capital.
Sight Sciences (SGHT) ha pubblicato i risultati finanziari preliminari per il quarto trimestre e l'anno fiscale 2024. Si prevede che il fatturato del Q4 2024 si attesti tra i $18.9-19.1M, con un incremento dell'1% rispetto all'anno precedente, mentre i ricavi derivanti dalla glaucoma chirurgica aumentano del 9%, raggiungendo i $18.7-18.8M, mentre i ricavi da occhio secco sono diminuiti a $0.2-0.3M rispetto ai $1.6M precedenti.
Il fatturato complessivo per il 2024 è previsto tra i $79.7-79.9M, in calo del 2% rispetto al 2023. L'azienda ha chiuso il 2024 con circa $120M in liquidità, generando $1.4M nel Q4 (incluso un prelievo di prestito a termine di $5M) rispetto all'uso di $6.4M nel Q4 2023. L'uso annuale di liquidità è diminuito a $18.1M dai $46.9M del 2023.
Le performance sono state influenzate da nuove restrizioni LCD di Medicare su molteplici procedure MIGS durante la chirurgia della cataratta. L'azienda mira a raggiungere il pareggio di flusso di cassa senza un ulteriore capitale azionario.
Sight Sciences (SGHT) ha publicado los resultados financieros preliminares para el cuarto trimestre y el año fiscal 2024. Se espera que los ingresos totales del Q4 2024 estén entre $18.9-19.1M, un aumento del 1% en comparación con el año anterior, con ingresos de glaucoma quirúrgico que aumentan un 9% a $18.7-18.8M, mientras que los ingresos por ojo seco cayeron a $0.2-0.3M desde $1.6M.
Los ingresos del año completo 2024 se proyectan en $79.7-79.9M, una disminución del 2% desde 2023. La compañía terminó 2024 con aproximadamente $120M en efectivo, generando $1.4M en el Q4 (incluido un retiro de préstamo a plazo de $5M) en comparación con el uso de $6.4M en el Q4 2023. El uso anual de efectivo disminuyó a $18.1M desde $46.9M en 2023.
El rendimiento se vio afectado por las nuevas restricciones LCD de Medicare sobre múltiples procedimientos MIGS durante la cirugía de catarata. La compañía tiene como objetivo alcanzar el equilibrio en el flujo de efectivo sin capital adicional de acciones.
Sight Sciences (SGHT)는 2024년 4분기 및 회계연도 재무 하이라이트를 발표했습니다. 2024년 4분기 총 수익은 $18.9-19.1M으로 예상되며, 전년 대비 1% 증가할 것으로 보입니다. 수술적 녹내장 수익은 9% 증가하여 $18.7-18.8M에 이를 것으로 예상되며, 건조안 수익은 $1.6M에서 $0.2-0.3M으로 감소했습니다.
2024년 전체 수익은 $79.7-79.9M으로 예상되며, 2023년 대비 2% 감소할 것으로 보입니다. 이 회사는 2024년을 약 $120M의 현금으로 마감했으며, 4분기 동안 $1.4M을 생성했으며 (여기에는 $5M의 약정대출 인출이 포함됨) 2023년 4분기에는 $6.4M을 사용했던 것과 비교됩니다. 연간 현금 사용량은 2023년의 $46.9M에서 $18.1M으로 감소했습니다.
성과는 백내장 수술 중 여러 MIGS 절차에 대한 새로운 Medicare LCD 제한의 영향을 받았습니다. 이 회사는 추가 주식 자본 없이 현금 흐름 손익 분기점을 달성하는 것을 목표로 하고 있습니다.
Sight Sciences (SGHT) a publié les résultats financiers préliminaires pour le quatrième trimestre et l'exercice 2024. Le chiffre d'affaires total du T4 2024 devrait se situer entre 18,9 et 19,1 millions de dollars, soit une augmentation de 1 % par rapport à l'année précédente, avec des revenus de glaucome chirurgical en hausse de 9 % pour atteindre 18,7-18,8 millions de dollars, tandis que les revenus de yeux secs ont chuté à 0,2-0,3 millions de dollars contre 1,6 million de dollars.
Le chiffre d'affaires total pour 2024 est prévu entre 79,7 et 79,9 millions de dollars, en baisse de 2 % par rapport à 2023. L'entreprise a terminé 2024 avec environ 120 millions de dollars en liquidités, générant 1,4 million de dollars au T4 (y compris un tirage de prêt à terme de 5 millions de dollars) par rapport à une utilisation de 6,4 millions de dollars au T4 2023. L'utilisation annuelle de liquidités a diminué à 18,1 millions de dollars contre 46,9 millions de dollars en 2023.
La performance a été affectée par de nouvelles restrictions LCD de Medicare sur plusieurs procédures MIGS lors de la chirurgie de la cataracte. L'entreprise vise à atteindre un équilibre de flux de trésorerie sans capital-actions supplémentaire.
Sight Sciences (SGHT) hat die vorläufigen Finanzhighlights für das vierte Quartal und das Geschäftsjahr 2024 veröffentlicht. Der Gesamtumsatz im Q4 2024 wird voraussichtlich zwischen 18,9 und 19,1 Millionen US-Dollar liegen, was einem Anstieg von 1 % im Vergleich zum Vorjahr entspricht. Der Umsatz aus chirurgischem Glaukom wird um 9 % auf 18,7-18,8 Millionen US-Dollar steigen, während der Umsatz aus trockenem Auge auf 0,2-0,3 Millionen US-Dollar von zuvor 1,6 Millionen US-Dollar sinkt.
Der Umsatz für das gesamte Jahr 2024 wird auf 79,7-79,9 Millionen US-Dollar geschätzt, was einem Rückgang von 2 % im Vergleich zu 2023 entspricht. Das Unternehmen schloss das Jahr 2024 mit etwa 120 Millionen US-Dollar in bar ab und generierte im Q4 1,4 Millionen US-Dollar (einschließlich einer Abhebung von 5 Millionen US-Dollar aus einem Terminkredit) im Vergleich zur Nutzung von 6,4 Millionen US-Dollar im Q4 2023. Der jährliche Bargeldverbrauch sank von 46,9 Millionen US-Dollar auf 18,1 Millionen US-Dollar im Jahr 2023.
Die Leistung wurde durch neue Medicare-LCD-Beschränkungen für mehrere MIGS-Verfahren während der Kataraktoperationen beeinträchtigt. Das Unternehmen strebt an, den Cashflow-Break-Even ohne zusätzliches Eigenkapital zu erreichen.
- Q4 Surgical Glaucoma revenue increased 9% YoY to $18.7-18.8M
- Cash position improved to $120M from $118.6M in Q3 2024
- Reduced annual cash usage by 61% to $18.1M from $46.9M in 2023
- Generated positive cash flow of $1.4M in Q4 2024 vs. -$6.4M in Q4 2023
- Full year 2024 revenue declined 2% YoY to $79.7-79.9M
- Q4 Dry Eye revenue dropped significantly to $0.2-0.3M from $1.6M YoY
- Full year Dry Eye revenue decreased to $3.9-4.0M from $6.7M in 2023
- New Medicare LCD restrictions negatively impacting MIGS procedures
- $5M term loan drawdown contributing to Q4 cash position
Insights
The preliminary Q4 2024 results reveal concerning trends for Sight Sciences. The total revenue growth of just 1% at midpoint (
The full-year picture is even more challenging, with total revenue declining by 2% to approximately
The company's focus on standalone MIGS procedures and TearCare reimbursement represents strategic pivots to counter these challenges, but near-term revenue pressure seems likely to persist.
The Medicare LCD restrictions affecting multiple MIGS procedures represent a significant regulatory hurdle for Sight Sciences' OMNI platform. This coverage limitation specifically impacts combination procedures with cataract surgery, which has been a key growth driver. The strategic pivot toward standalone procedures indicates recognition of this challenge, but such a transition typically requires significant physician education and practice pattern changes.
The dramatic decline in TearCare revenue (
MENLO PARK, Calif., Jan. 14, 2025 (GLOBE NEWSWIRE) -- Sight Sciences, Inc. (Nasdaq: SGHT) ("Sight Sciences" or the "Company"), an eyecare technology company focused on developing and commercializing innovative technology intended to transform care and improve patients' lives, today reported select preliminary, unaudited financial highlights for the fourth quarter and full year ended December 31, 2024.
Select Preliminary Financial Highlights
Fourth quarter 2024 total revenue is expected to be in the range of
- Surgical Glaucoma revenues are expected to be in the range of
$18.7 million to$18.8 million , an increase of9% at the estimated midpoint compared to the prior year period. - Dry Eye revenues are expected to be in the range of
$0.2 million to$0.3 million , compared to$1.6 million in the prior year period.
Full year 2024 total revenue is expected to be in the range of
- Surgical Glaucoma revenues are expected to be in the range of
$75.8 million to$75.9 million , an increase of2% at the estimated midpoint compared to the prior year. - Dry Eye revenues are expected to be in the range of
$3.9 million to$4.0 million , compared to$6.7 million in 2023.
The Company’s cash and cash equivalents as of December 31, 2024, were approximately
- Cash generated in the quarter totaled approximately
$1.4 million , reflecting continued operational discipline versus cash used in the same period of the prior year of$6.4 million . - Cash generated in the quarter included a
$5.0 million drawdown under our term loan with Hercules Capital, Inc. and certain affiliates of Hercules. - Cash used during the year totaled approximately
$18.1 million , down from$46.9 million cash used in the prior year. - The Company plans to achieve cash flow breakeven without the need to raise additional equity capital.
"Our fourth quarter Surgical Glaucoma revenue increased
The Company’s fourth quarter and full year 2024 financial results are preliminary and subject to the completion of the Company’s 2024 audit. The Company expects to announce complete fourth quarter and full year 2024 financial results in March 2025.
Financial Disclosure Advisory
The Company reports its financial results in accordance with U.S. generally accepted accounting principles ("GAAP"). The select preliminary, unaudited results described in this press release are estimates only and are subject to revision until the Company reports its full financial and business results for the fourth quarter and full year 2024. These estimates are not a comprehensive statement of the Company’s financial results for the fourth quarter and full year 2024 and actual results may differ materially from these estimates as a result of the completion of year-end accounting procedures and adjustments, including the execution of the Company’s internal control over financial reporting, the completion of the preparation and audit of the Company’s financial statements and the subsequent occurrence or identification of events prior to the formal issuance of the audited financial statements for the full year 2024.
About Sight Sciences
Sight Sciences is an eyecare technology company focused on developing and commercializing innovative and interventional solutions intended to transform care and improve patients’ lives. Using minimally invasive or non-invasive approaches to target the underlying causes of the world’s most prevalent eye diseases, Sight Sciences seeks to create more effective treatment paradigms that enhance patient care and supplant conventional outdated approaches. The Company’s OMNI® Surgical System is an implant-free glaucoma surgery technology (i) indicated in the United States to reduce intraocular pressure in adult patients with primary open-angle glaucoma; and (ii) CE Marked for the catheterization and transluminal viscodilation of Schlemm’s canal and cutting of the trabecular meshwork to reduce intraocular pressure in adult patients with open-angle glaucoma. Glaucoma is the world’s leading cause of irreversible blindness. The SION® Surgical Instrument is a bladeless, manually operated device used in ophthalmic surgical procedures to excise trabecular meshwork. The Company’s TearCare® System is 510(k) cleared in the United States for the application of localized heat therapy in adult patients with evaporative dry eye disease due to meibomian gland dysfunction ("MGD"), enabling clearance of gland obstructions by physicians to address the leading cause of dry eye disease. Visit www.sightsciences.com for more information.
Sight Sciences, the Sight Sciences logo, TearCare, SmartHub and SmartLids are trademarks of Sight Sciences registered in the United States. OMNI and SION are trademarks of Sight Sciences registered in the United States, European Union and other territories.
© 2025 Sight Sciences. All rights reserved.
Forward-Looking Statements
This press release, together with other statements and information publicly disseminated by the Company, contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and includes this statement for purposes of complying with such safe harbor provisions. Any statements made in this press release or during the earnings call that are not statements of historical fact, including statements about our beliefs and expectations, are forward-looking statements and should be evaluated as such. Forward-looking statements include, but are not limited to, statements concerning expected financial and business results for fourth quarter and full year 2024; timing for announcement of complete fourth quarter and full year 2024 financial and business results; the Company’s position entering 2025, including the belief that the Company is well-positioned to execute on its long-term vision; the Company’s ability to achieve reimbursed market access for TearCare; and the Company’s plan to achieve cash flow breakeven without the need to raise additional equity capital. These statements often include words such as "anticipate," "expect," "suggests," "plan," "believe," "intend," "estimates," "targets," "projects," "should," "could," "would," "may," "will," "forecast" and other similar expressions. We base these forward-looking statements on our current expectations, plans and assumptions we have made in light of our experience in the industry, as well as our perceptions of historical trends, current conditions, expected future developments and other factors we believe are appropriate under the circumstances at such time. Although we believe these forward-looking statements are based on reasonable assumptions at the time they are made, you should be aware that many factors could affect our business, results of operations and financial condition and could cause actual results to differ materially from those expressed in the forward-looking statements. These statements are not guarantees of future performance or results. These forward-looking statements are subject to and involve numerous risks, uncertainties and assumptions, including those discussed under the caption "Risk Factors" in our filings with the U.S. Securities and Exchange Commission, as may be updated from time to time in subsequent filings, and you should not place undue reliance on these statements. These cautionary statements are made only as of the date of this press release. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.
Investor contact:
Philip Taylor
Gilmartin Group
415.937.5406
Investor.Relations@Sightsciences.com
Media contact:
pr@SightSciences.com
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