Sight Sciences, Inc. (SGHT) SEC Filings & Earnings Calls

Litigation success fee of $5.4M impacted cash usage; ongoing legal costs.

“Cash usage included $3.8 million of non-recurring items... including a $5.4 million litigation success fee.” · word for word

Gross margin benefited from tariff refunds; ex-refunds margin 86%.

“Gross margin was 91%, including a $1.4 million benefit from tariff refunds.”

Dependence on reimbursement

“The Company made reimbursement progress ... which has led to the increased volume.”

Litigation costs

“SG&A expenses increased ... includes a $5.4 million litigation success fee charge associated with the final judgment in the Alcon litigation.”

Continued net losses

“We expect to continue to incur net losses for at least the next several years.” · word for word

Patent reexamination risk

“It is possible that the April 2024 jury verdict ... may be materially and adversely impacted if either or both of the two remaining reexamination proceedings result in final, non-appealable judgments of invalidity.” · word for word

Liquidity risk

“Since inception, the Company has incurred losses and negative cash flows from operations. As of March 31, 2026, the Company had an accumulated deficit of $397.7 million.” · word for word

One-time success fee of $5.4M related to Alcon litigation increased operating expenses.

“a $5.4 million one-time success fee associated with the final judgment in the Alcon litigation” · word for word

Tariff expense impacted Interventional Glaucoma gross margin.

“offset by increased tariff expense” · word for word

Medicare reimbursement risk

“As a result of this Multiple MIGS Exclusion, the aggregate number of MIGS devices used in 2025 decreased as compared to 2024.” · word for word

Revenue concentration and growth risk

“Revenue was $77.4 million for 2025, a decrease of 3% compared to $79.9 million in 2024.” · word for word

Competitive pressure risk

“This decrease adversely affected us and other MIGS companies, and further increased competitive pressures and adversely affected our revenues.” · word for word

Reimbursement Risk

“The Final LCDs adopted a non-coverage policy when an aqueous shunt or stent procedure is performed with another surgical MIGS procedure... This non-coverage policy has resulted in a reduction in overall MIGS claims volumes.” · word for word

Tariff Risk

“The U.S. tariff on China exports has increased the cost of our products and components and will likely have a negative impact on our gross margins.” · word for word

Supply Chain Concentration Risk

“Most of our OMNI and SION products, as well as our TearCare SmartLids, are currently produced and assembled by a single Taiwan-based manufacturer in China.” · word for word

Profitability Risk

“We have incurred annual net losses since our formation in 2010.” · word for word

Tariff costs impacting glaucoma gross margin; full year glaucoma GM down 1pp to 87%.

“Interventional Glaucoma gross margin in full year 2025 was 87% compared to 88% in full year 2024, the decrease was primarily due to higher tariff costs.” · word for word

Dry eye revenue declined 60% YoY in FY2025; reliance on ASP improvement rather than volume.

“Interventional Dry Eye revenue was $1.6 million for full year 2025, compared to $4.0 million in full year 2024.” · word for word

Full year revenue decline of 3% and flat Surgical Glaucoma revenue indicate potential market saturation or competitive pressure.

“Full year 2025 total revenue is expected to be in the range of $77.3 million to $77.4 million, a decrease of 3% at the estimated midpoint compared to the prior year.” · word for word

Dry Eye revenue dropped 60% YoY in FY2025, despite Q4 growth, suggesting volatility in that segment.

“Dry Eye revenues are expected to be approximately $1.6 million, compared to $4.0 million in 2024.” · word for word

Tariff exposure on China-produced products expected to increase COGS by $1.0-1.5M in FY2025.

“Company has exposure to the tariffs imposed by the U.S. on China because most of its products are produced and assembled in China. Expects tariff impact of $1.0M to $1.5M for full year 2025.”

Dry Eye revenue declined 88% YoY as company pivots to reimbursed market access, creating near-term revenue gap.

“Dry Eye revenue was $0.2 million, a decrease from $1.5 million in the same period in the prior year.” · word for word

Restructuring costs of $2.8M in Q3 2025 from workforce reduction indicate ongoing operational challenges.

“Operating expenses included $2.8 million in restructuring costs associated with the reduction in force announced on August 27, 2025.” · word for word

Medicare reimbursement restrictions on MIGS procedures

“This decrease in units sold was primarily driven by a decrease in unit utilization per ordering facility, primarily due to the restrictions on the performance of multiple MIGS procedures in combination with cataract surgery for Medicare patients in the jurisdictions administered by the five MACS that issued the LCDs containing such restrictions, which restri” · word for word

Tariff cost pressure on imported products

“The U.S. has recently imposed tariffs that apply to all of our products and product components imported from China, which has, increased and may to continue to increase, the cost of our products and components and have a negative impact on our gross margins and liquidity.” · word for word

Dry Eye segment decline

“Our Dry Eye revenue for the three months ended September 30, 2025 was $0.2 million, a decrease of $1.3 million, or 87.7%, from the prior year comparable period.” · word for word