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Image source: The Motley Fool. Wed, Aug. 5, 2026 at 4:30 p.m. ET Investor Relations - Trip Taylor Co-Founder and Chief Executive Officer - Paul Badawi Chief Financial Officer - Jim Rodberg Chief Operating Officer - Ali Bauerlein Operator: Good day and thank you for standing by. Welcome to the Sight Sciences Second Quarter 2026 Earnings Results Call. [Operator Instructions] Please be advised that today's conference is being recorded. I would now like to hand the conference over to Trip Taylor with Investor Relations. Please go ahead. Philip Taylor: Thank you for participating in today's call. Presenting today are Sight Sciences' Co-Founder and Chief Executive Officer, Paul Badawi, and Chief Financial Officer, Jim Rodberg. Also in attendance is Sight Sciences Chief Operating Officer, Ali Bauerlein. Earlier today, Sight Sciences released financial results for the second quarter ended June 30, 2026, and raised its revenue guidance and lowered its adjusted operating expense guidance for full year 2026. A copy of the press release is available on our website at investors.sightsciences.com. I would like to remind everyone that comments made by management today and answers to questions will include forward-looking statements, including statements about our projected financial results, including revenue and adjusted operating expenses, our product development plans, market acceptance of our products, changes in the reimbursement environment, and our ability to drive profitability and achieve cash flow breakeven. These statements are based on plans and expectations as of today, which may change over time. In addition, actual results could differ materially from projected results due to a number of risks and uncertainties. For discussion of factors that may affect the company's future financial results and business, please refer to the earnings release issued prior to this call in the company's most recent SEC filings. We undertake no obligation to publicly update or revise any forward-looking statements, except as required by law. Also on this call, management refers to certain financial measures that were not prepared in accordance with generally accepted accounting principles in the United States, including adjusted operating expenses. We believe these non-GAAP financial measures are important indicators of the company's operating performance because they exclude items that are unrelated to and may not be indicative of its core operating results. See our earnings release for a reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measures, as well as additional information about our reliance on non-GAAP financial measures. I will now turn the call over to Paul. Paul Badawi: Thanks, Trip. Good afternoon, and thank you for joining us. We delivered a strong second quarter, with revenue growing 20% year over year, our highest growth rate since 2023, and our second consecutive quarter of double-digit growth. This performance reflected growth in both segments, with Interventional Dry Eye achieving record revenue as TearCare adoption scaled in the reimbursed market, and Interventional Glaucoma delivering its highest year-over-year growth rate since the fourth quarter of 2024. Importantly, we achieved this growth while significantly improving operating results and meaningfully reducing cash usage. As a result of this strong performance, we are raising our full-year 2026 revenue guidance and reducing our adjusted operating expense guidance. At Sight Sciences, we are focused on advancing interventional eye care with innovative, minimally invasive technologies that address 2 of the most prevalent diseases in the anterior segment of the eye, glaucoma and dry eye disease. Across both categories, there is a growing interventional mindset, and we believe providers are increasingly seeking procedure-based treatment options that comprehensively address the underlying causes of disease in a minimally invasive manner and fit naturally into clinical workflows. We believe Sight Sciences is differentiated by our focus on enabling earlier procedure-based care across these 2 large and complementary disease states. Both OMNI and TearCare were purpose-built to support this evolution toward minimally invasive treatment options for providers and patients. Beyond the individual growth opportunities of each platform, we see a broader strategic advantage in what we call the intersection of intervention. Glaucoma and dry eye disease often affect the same patients, are treated within the same practices, and fit within similar procedural workflows. This overlap creates opportunities to deepen customer relationships, increase account utilization, improve the patient care pathway, and drive durable growth while reinforcing Sight Sciences' leadership in interventional eye care. Now, turning to our segments, starting with Interventional Dry Eye. We are pioneering the reimbursed interventional dry eye treatment market. We delivered another strong quarter with record revenue of $2.7 million, nearly doubling from the first quarter of 2026. As we build this significant category, the commercial signals continue to strengthen. We are also proud to have added approximately 4.1 million patient lives in the second quarter, during which certain insurance plans have published fee schedules in their provider portals that align with the updated Medicare pricing established in certain jurisdictions last year. This has increased our TearCare patient lives with access to appropriate reimbursement from approximately 10.4 million to 14.5 million. Based on this revenue and reimbursement momentum, we are raising our Interventional Dry Eye guidance to a range of $9 million to $11 million, up from the previous range of $6 million to $8 million. The continued strong performance in our Dry Eye business was driven by strength in 2 key metrics, account growth and utilization. Ordering accounts increased from 96 in the first quarter to 176 in the second quarter and included a healthy combination of new and reordering accounts. These accounts purchased more than 3,000 SmartLids in the quarter, more than double our first quarter volumes. Importantly, even as the active account base nearly doubled, average utilization also increased to approximately 18 SmartLids per active account in the second quarter, up from 16 in the first quarter. We also saw meaningful evidence of the value created by the overlap between our 2 interventional segments. In the second quarter, approximately 2/3 of SmartLids volume came from accounts that are also Interventional Glaucoma customers. And those overlapping accounts had significantly higher utilization than our Interventional Dry Eye only accounts. This reinforces our view that our established Interventional Glaucoma relationships can help accelerate TearCare adoption, deepen customer engagement, and create a more efficient path to growth in Interventional Dry Eye. The commercial traction we are seeing with TearCare reinforces our conviction in the reimbursed procedural dry eye category. While we remain in the early stages of developing this market, we believe we are building a durable and efficient recurring revenue business model that can scale across additional territories as market access expands. Our commercial strategy remains focused on driving adoption in accounts with a history of significant dry eye prescription activity, coupled with an interventional mindset where we believe TearCare can fit naturally into practice workflow and patient care. We added sales and clinic support headcount in the second quarter and will continue making investments in our commercial infrastructure to strengthen our team and equip providers with the support needed to adopt and grow their interventional dry eye practices. Over time, we see meaningful runway for growth as practices continue building patient funnels and integrating TearCare into their workflows. The adoption we are seeing also reflects TearCare's clinical outcomes, ease of use, office workflow compatibility, and value proposition for patients, providers, and payers. Expansion of our Interventional Dry Eye segment to its full potential will be enabled by additional market access. We continue to advance this priority through productive dialogue with multiple MACs and continue to anticipate that additional payers will establish fee schedules and/or coverage policies this year. At the same time, we remain focused on executing within the currently serviceable market already in front of us. We believe continued execution in these regions can drive meaningful growth with additional positive payer decisions serving as important accelerators. Considering the encouraging TearCare adoption trajectory, ongoing payer engagement, and differentiated clinical profile, we remain very well positioned to continue pioneering the development of the reimbursed interventional dry eye category and drive meaningful long-term growth in this business. Turning to Interventional Glaucoma. OMNI remains foundational to our interventional eye care platform and a key reason we are well positioned as the interventional mindset continues to expand across both glaucoma and dry eye. Since commercialization, OMNI has enabled us to build deep relationships with surgeons and practices by offering a proven, minimally invasive, implant-free procedure that fits naturally into the glaucoma treatment pathway. This established base of customers, along with successful clinical experiences, procedural credibility, and strong partnership, all support continued growth in Interventional Glaucoma while also strengthening our commercialization within Interventional Dry Eye. In the second quarter, we achieved our fourth consecutive quarter of year-over-year growth with revenue of $20.7 million, up 8% versus the same period in the prior year. Growth was broad-based, with strength across all key metrics, including increases in active accounts, volumes, utilization, and pricing. Ordering accounts reached an all-time high in the quarter, and increased 3% year over year. Importantly, utilization returned to its highest level since the fourth quarter of 2024, when LCDs began to adversely impact MIGS volumes. We are encouraged by the progress in the first half of the year, and the underlying trends support our expectation for continued Interventional Glaucoma growth in the second half of 2026. As a result, we are narrowing to the high end of the range for our Interventional Glaucoma revenue guidance to $79 million to $81 million, up from our previous range of $77 million to $81 million. We are also pleased to highlight that in July, coverage of OMNI and SION expanded with the addition of approximately 25 million covered lives from Aetna, one of the largest health plans in the United States. Aetna now recognizes certain implant-free glaucoma procedures as medically necessary for mild to moderate open-angle glaucoma when specified clinical criteria are met. Our market access team has worked diligently to establish broad payer access for canaloplasty and goniotomy, enabled by OMNI and SION, and we have now secured access across all major national payers. Additionally, we are preparing for the launch of OMNI Ultra, our next-generation technology following its recent FDA 510(k) clearance. OMNI Ultra includes meaningful advancements that were informed by surgeon feedback and designed to capture the voice of the customer, improve the surgical experience, and give surgeons even greater confidence throughout the procedure. Two notable features are the ability to perform a complete single-pass canaloplasty and the addition of TruSync Plus technology. The single-pass canaloplasty was designed to improve surgical efficiency and minimize intraocular procedural steps, while TruSync Plus technology enables automated, controlled viscoelastic delivery during both advancement and retraction of our microcatheter. We believe OMNI Ultra is an important enhancement within our glaucoma portfolio with the potential to deepen engagement with customers while reinforcing our leadership position in implant-free MIGS. Looking ahead, our Interventional Glaucoma strategy remains focused on driving growth and penetration in the combo cataract market while continuing to develop the standalone market. In combo cataract, we are focused on adding new surgeons, increasing utilization across our customer base, and continuing to take share with the differentiated implant-free technology. In standalone, our market development work continues to focus on helping practices implement a repeatable Interventional Glaucoma activation workflow. This workflow was designed with the cataract workflow in mind, a familiar and effective model for practices, and is intended to help move the standalone opportunity from physician education to practical activation. Over time, we believe this can help providers identify appropriate patients, integrate the procedure into clinic operations and build more consistent adoption. The standalone market remains a large, under-penetrated opportunity, and we believe the work we have done is beginning to contribute to growth today and is an important step toward expanding the role of Interventional Glaucoma in the treatment algorithm. To close, we delivered a strong second quarter with growth in both interventional segments, continued scaling TearCare in the reimbursed dry eye market, meaningfully improved operating results, and raised our full-year 2026 revenue guidance while reducing our adjusted operating expense outlook. As we move through the remainder of the year, we remain focused on advancing both of our growing interventional platforms and capitalizing on the strategic opportunity created by the intersection of intervention. We will continue investing in growth while maintaining the operational and financial discipline necessary to improve operations and advance toward cash flow breakeven. We believe this balanced approach positions Sight Sciences well to drive sustainable growth and create long-term value for patients, providers, payers, and shareholders. With that, I'll turn the call over to Jim to review our second quarter financial results and updated 2026 guidance in more detail. Jim Rodberg: Thanks, Paul. In the second quarter, total revenue was $23.4 million, a 20% increase compared to the prior year period, driven by growth in both of our interventional segments. This was our strongest quarterly revenue growth rate in 3 years. Interventional Glaucoma revenue was $20.7 million, an increase of 8% compared to the prior year period, driven by increased OMNI volume, a record number of active accounts, and stronger utilization. Interventional Dry Eye revenue was $2.7 million, nearly doubling from $1.4 million in the first quarter, driven by growth in ordering accounts and increased utilization within those accounts. Gross margin was 91%, up from 85% in the prior year period. The increase was primarily driven by a one-time impact of $1.4 million from tariff refunds received in the second quarter. Interventional Glaucoma gross margin was 92%, which included a $1.2 million benefit from tariff refunds in the quarter. Excluding tariff refunds, Interventional Glaucoma gross margin was 86% in line with the prior year period. Interventional Dry Eye gross margin was 85%, which included a $0.1 million benefit from tariff refunds in the quarter. Excluding tariff refunds, Interventional Dry Eye gross margin was 80%, up significantly from 38% in the same period in the prior year, primarily due to higher average selling prices. Total operating expenses were $25.3 million, a decrease of 11% compared to $28.3 million in the same period in the prior year. The decrease was driven primarily by lower personnel-related expenses and stock-based compensation. As a reminder, we conducted a reduction in force in the third quarter of 2025, and this was the third full quarter operating under our lower cost structure. Adjusted operating expenses were $22.3 million, down 8% compared to $24.4 million in the same period in the prior year. Net loss was $4.4 million, a 63% improvement from $11.9 million in the same period in the prior year. Net loss per share was $0.08 compared to $0.23 in the second quarter of 2025. We ended the quarter with $79.8 million of cash and cash equivalents compared to $85 million at the end of the first quarter. Cash used in the quarter included a one-time $5.4 million payment related to a success fee paid following the final judgment in our litigation case against Alcon, partially offset by $1.6 million received in tariff refunds. Excluding these one-time items, cash used in the quarter was $1.4 million, down 81% from $7.3 million in the second quarter of 2025. This reflects meaningful improvement and underscores the progress we are making toward cash flow breakeven. At the same time, we will continue making investments to drive growth in both Interventional Dry Eye and Interventional Glaucoma. We ended the quarter with $40 million of debt, excluding unamortized discount and debt issuance costs. With the operating discipline and cost structure to support growth in place, we believe this positions us to achieve cash flow breakeven without the need to raise additional equity capital. As a reminder, with respect to the Alcon patent litigation case, the final judgment from April confirmed past damages and interest totaling approximately $55 million, as well as ongoing royalties of 10% of Hydrus revenue through patent expiration. As expected, Alcon filed an appeal, and we are continuing to progress through the remaining legal and appellate processes. To date, no cash has been received, and we remain confident in our position while the judicial process runs its course. Moving to our revenue outlook for full year 2026, we are raising revenue guidance to $88 million to $92 million, which reflects growth of 14% to 19% compared to 2025, versus the prior guidance range of $83 million to $89 million. This includes Interventional Glaucoma revenue of $79 million to $81 million, representing growth of 4% to 7%, and Interventional Dry Eye revenue of $9 million to $11 million, compared to $1.6 million in the prior year. Our updated guidance reflects strong first half performance, the continued scale-up of Interventional Dry Eye, and our focus on disciplined execution. Turning to the third quarter, our updated guidance implies total revenue growth in the mid to high teens compared to the prior year. We expect Interventional Glaucoma to grow in the mid-single digits, reflecting continued growth against a tougher prior year comparison and historically lower procedural trends in Q3. We expect Interventional Dry Eye revenue to be approximately $3 million, representing continued sequential growth following the significant step-up achieved in the second quarter. In addition to increasing revenue guidance, we are reducing our full-year 2026 adjusted operating expense guidance to $92 million to $94 million, which reflects an increase of 5% to 7% compared to 2025. This range compares to our prior guidance range of $93 million to $96 million. This updated outlook reflects the continued progress we are making to improve the efficiency of our operating structure while driving growth in both segments. As we move through the second half of 2026, we will continue investing in the growth opportunities in Interventional Dry Eye and Interventional Glaucoma while maintaining expense discipline. Overall, we delivered strong second quarter performance, highlighted by 20% total revenue growth, continued momentum in both segments, and meaningful improvement in cash usage. We look forward to building on this progress as we scale Interventional Dry Eye, continue strengthening Interventional Glaucoma, and manage the business to drive sustainable growth, improve profitability, and progress toward cash flow breakeven. Operator, please open the line for questions. Operator: [Operator Instructions] Our first question comes from the line of Adam Maeder with Piper Sandler. Adam Maeder: Congrats on the progress. A couple of different places I could take this, but I'll ask one on glaucoma, one on dry eye. Just maybe starting with glaucoma, would love just to kind of better understand the interventional glaucoma market dynamics. You put up good growth in Q1, you put up good growth in Q2. I know there's a little bit of a comps dynamic in the back half of the year that you're facing. But as we think about underlying market growth, it feels like this has been potentially like the healthiest the market has been for some time. And so would you agree with that? And how do you think about like the underlying market trends going forward? And then I had a follow up. Paul Badawi: Yes, Adam, this is Paul. We agree that the interventional glaucoma market and the interventional dry eye market, there's a growing interventional mindset in eye care generally, certainly in glaucoma. We do feel like we are finally operating in a stable environment. Team is very excited about that. I think they've been doing a great job. We believe the MIGS market is back in growth mode, maybe mid-single digits. Our commercial priorities remain the same to continue to grow in combo cataract with taking share and expanding the market and adding new surgeons and developing the standalone market where we have a dedicated team that is implementing a playbook that we feel is beginning to work and contribute to growth. So we feel like the interventional market is stable this year. The outlook for 2027 remains stable. And we're very excited to be operating within that kind of stable environment where we can deliver commercial excellence. Adam Maeder: Thanks, Paul. That's great to hear. And maybe switching over to dry eye, I guess I, you know, obviously a good quarter, wanted to ask about, you know, the reimbursement constructs and the payer coverage. And so, multi-part question, but the 4 million covered lives, I think, that were added in Q2 from the various payers. When did those come online? Did they impact Q2 at all? When do you expect to see an impact from those payer wins? And then, as you kind of progress into the back half of the year, it does sound like you think you're going to make more progress. Maybe just frame what's embedded in the updated Dry Eye guidance for payer coverage. Can you get there with what you have today or do you need to onboard more payers? Alison Bauerlein: Yes, thanks, Adam, and I'll take those questions. And first of all, we were very happy to see that we had some of the Medicare Advantage plans in the quarter put fee schedules into their provider portals. And we have started to see some of our providers billed those plans and get successfully paid for those services. So impact in Q2 was very modest from those plans. We can't directly tie it out or break it out only because our customers are doing the billing, not us. But our feel is that we were still very much early in that process during the quarter and most accounts, just like with traditional Medicare fee-for-service, they really wanted to test it out themselves and see a handful of claims get paid. So, minimal impact to Q2, should be a growing impact going into the back half of 2026. And that was something that we took into account when we looked at guidance. In terms of other payers and additional wins in the back half of the year, we took the same approach that we've taken all year long in setting revenue guidance for IDE, and we did not assume incremental market access wins into that revenue assumption. So, while we still feel like there is a pathway and that we should see additional payers establish either fee schedules or coverage policies in the back half of the year, we are not including those in the revenue guidance at this point. Operator: One moment for our next question. Our next question comes from the line of Nelson Cox with Lake Street Capital Markets. Nelson Cox: Congrats guys on all the progress this quarter. I wanted to start with the Dry Eye business. You nearly doubled your active accounts this quarter and had a nice step up in utilization. Last quarter, I think you mentioned something about a handful of accounts. I think it was around 10% were driving kind of a larger share of the volume. So with that base broadening that fast, are you kind of starting to see volume spread out across your new account adds? Or is that -- are you still kind of seeing top accounts doing a lot of heavy lifting? Alison Bauerlein: Yes, thanks. Great, great question. And we really are seeing traction across a variety of accounts now and seeing consistent utilization. Of course, as you would expect in any business, there are those top 10 accounts that are continuing to perform at a much higher utilization than other accounts and that continued in this quarter. But we're really happy with the durable repeatability that we've seen with accounts where they really are integrating this into their practice workflow across those -- all of the accounts. So I think in general, while there is some level of higher utilization in a handful of accounts, really across the board, utilization is performing very nicely. And we're seeing those accounts stay in where they are reordering and building their TearCare business line. Nelson Cox: Great. That's helpful. And then, someone wanted to follow up on that? Alison Bauerlein: Go ahead. Okay. And then on OMNI Ultra, congrats on the clearance there. I know the release, the full U.S. launch is on track for Q4. Maybe just walk us through what happens between now and then, and if we should expect any limited release with select surgeons first, and maybe how you're thinking about pricing relative to edge? And then, is there any Ultra contribution baked into the guide this year at all? Or should we kind of view that as upside? Paul Badawi: Yes, hi, Nelson, I'll take that one, this is Paul. Yes, we're very excited to have finally received the clearance for Ultra, it's going to be a great product in the IG space. The single-pass canaloplasty and TruSync Plus technology is something that our customers have been wanting. We stay close with our surgeon customers. So as I stated in the prepared remarks, we do feel like OMNI Ultra captures the voice of the customer very effectively. So excited to launch it. As you said, the full launch we're targeting for AAO in a couple of months. Between now and then, we will be rolling out Ultra to some of our earlier users, earlier customers and close partners of the company. We obviously want to get as much feedback as we can on the product and procedure in advance of the full launch. So expect that over the coming months and we're -- the team is super excited about it. Our OMNI surgeons are super excited to give it a test run. We have done some early human testing OUS with the product, so we feel very confident about its usability and performance and looking forward to expanding that clinical use experience here in the U.S. over the coming months and then the larger launch at the American Academy of Ophthalmology meeting later this year. We do expect beyond AAO for that kind of full launch to the broad market to kick-in 2027. So think of it in 3 stages. The early release now before AAO, the launch at AAO and expanding to that next group of surgeon customers, and then broad utilization and training in 2027. Nelson Cox: Congrats on all the progress. Paul Badawi: Thank you. Operator: [Operator Instructions] Our next question comes from the line of Steve Lichtman with William Blair. Steven Lichtman: I guess first on Dry Eye, I think, Paul, you mentioned ongoing dialogue with the other MACs. Can you give us any sense of how those are going and why that dialogue gives you confidence in more positive MAC movement by the end of this year? Alison Bauerlein: Yes, Steve, I can take that one. And we have continued to have good conversations across multiple MACs and other commercial payers as well. I think first and foremost, we always anchor on our clinical data. We invested heavily in the SAHARA trial and that SAHARA trial was a very long head-to-head RCT versus the standard of care Restasis that also included a crossover and then a third phase to look at durability of treatment effect. And that is quite compelling clinical data in support of the procedure and showing the benefits. On top of that, we also have strong health economic data that shows how this is actually not only better for the patients from a clinical perspective, but also better for the payers because this can save the payers money over time versus traditional prescription eye drops. And so that is a compelling message to payers. What we really need to do to continue to make progress here is just continue to have patient and provider advocacy increase with payers to show that this is something that is important to Dry Eye and should be a priority for them in terms of establishing either fee schedules or coverage policies depending on the payer. So, really, that's what we're focused on. We do believe that we have a pathway to establish either more fee schedules or coverage policies this year from payers, and we'll continue to provide updates. I will say that, of course, what payers do, timing of payers are outside of our control. So that's not completely something that we can predict, but we do feel good about the conversations that we're having, the engagement that we're having. And we'll continue to make progress on that as we progress. And we certainly feel good about the long-term ability for us to establish broad market access for TearCare moving into 2027 and beyond. Steven Lichtman: And then just on the glaucoma side, you know, obviously, as we look at the first half, you outpaced the market. I'm wondering if you could sort of disaggregate that for us a bit on stand-alone versus combo cataract in terms of contribution of growth and also where stand-alone currently is as a percent of your total glaucoma revenue and where you think the market is now from a penetration perspective. Paul Badawi: Hi, Steve. Yes, we believe the stand-alone market is growing in terms of mix. I think historically we've stated, we believe we're around -- it's hard to be very prescriptive and exact because the claims data, it's not just our technology within a certain code, within a stand-alone canaloplasty code, for example. We believe our mix was maybe mid-80s combo cataract, mid-teens stand-alone. We think that mix is shifting a bit more towards stand-alone as we focus on pseudophakic market development. We can see in the claims data that stand-alone claims overall are growing as a percentage of the overall MIGS market. I think our share mix is growing faster than the mix of the overall market, but I think both, you know, general market stand-alone is growing and then our standalone mix is also growing and we believe faster than market mix. Does that make sense? Steven Lichtman: Yes, it makes sense. Operator: [Operator Instructions] Our next question comes from the line of Tom Stephan with Stifel. Thomas Stephan: Congrats on the nice print here. I'll start with a big picture question. A bit OpEx related, but the business obviously has nice momentum, Glaucoma growing solidly, IG, thematically in the early innings. Obviously, TearCare, huge potential and off to a nice start. So, Paul, maybe for you, talk about your confidence in striking the right balance between spending discipline and supporting these key initiatives. Do you feel like your current OpEx plans near-term and more importantly, long-term, can support the upside potential of these efforts? Paul Badawi: We do, Tom. I think we have a very good balance. I think we have a history of solid execution, both focusing on growth of the business. We're here to grow. We're a growth med tech company, but also executing with discipline. I think the last couple of years, our rigorous execution was on full display. We -- with the LCDs over the past few years, revenue stalled kind of flat. But it was a great time for us, Tom, to really go deep into our business and make it as efficient as possible. So those years, when companies and teams are confronted with those kinds of challenges and they're forced to look really close and hard at the business, fine-tune it and make it more efficient. That was just our reality and I think we did that very well. So today, as we emerge, and we said over the last few years we were flying a plane with half an engine. Today with IG back in growth, with IDE back in growth, with an interventional mindset that's only growing with us being in 2 interventional categories with leading technologies, with the synergies that are kind of proprietary to Sight because of the intersection of intervention, we believe we're flying a plane with 2 very strong engines right now. You couple that with excellence in operational discipline that we developed and fine-tuned over the past few years, we think we've struck a really good balance between growth and spend. I think it's on display today, and we're going to carry it forward over the coming years. Thomas Stephan: And then more of a near-term, very near-term question relative to my first question, but just on glaucoma in the third quarter, and apologies if this has been asked. I am juggling a couple calls. But I think the mid-single-digit year-over-year growth, Jim, that you mentioned implies roughly flattish sequential revs in the segment. Usually we see a sequential decrease in 3Q in ophtho and really med tech broadly. So, what gives you guys, I guess, the confidence in achieving that level of maybe flattish, at least flattish sequential growth and potentially or hopefully posting upside to that? And what are kind of the key drivers in getting you there? Thanks again and congrats. Jim Rodberg: Yes, thanks a lot, Tom. First of all, we're really proud of the team's execution here in the first half. We exit Q2 with a record number of active accounts, 4 quarters in a row of growth in Interventional Glaucoma, and we expect that momentum to continue. Q3 last year was unseasonably strong across all of med tech. And I think baked into our guide is a mix of the momentum we're seeing, the strength we're seeing in the underlying metrics, offset by potentially some of that seasonality. So we feel good about how we closed out the first half and going into Q3 with a lot of momentum, with a growing interventional mindset, and a team that has executed extremely well over the last 4 quarters. Operator: [Operator Instructions] Our next question comes from the line of David Saxon with Needham and Company. Joseph Conway: This is Joseph for David. Starting off with Dry Eye, just wondering if you guys have seen any competitive response from LipiFlow or iLux just in terms of positioning of a cash pay procedure versus the reimbursement -- reimbursed procedure of TearCare. And then apologies if you mentioned it, but I'm just curious, the utilization of TearCare in existing OMNI accounts, how did that look in the quarter? Alison Bauerlein: Yes, happy to take both of those. So really, TearCare is in a class of its own. We're the only ones with a RCT that shows head-to-head clinical data that supports market access and reimbursed care for this procedure. As you know, the other products on the market have separate reimbursement codes and operate within the cash-pay only segment because they don't have the appropriate support for why this should be covered from a medical necessity perspective. So we really have not seen any new market dynamics from that perspective and really have been focused on market development in those areas where we do have fee schedules established. And because of that, it's really more about workflow and patient identification. Of course, we would like more access for patients in those markets because right now it is those Medicare beneficiaries that we are primarily focused on. But really, the cash-pay market is an entirely separate market, and we have not seen any competitive response. In terms of TearCare utilization, we continue to see very nice synergies between our business and what we've already established on the Interventional Glaucoma side, and we have been able to leverage those very strong relationships that have been created over many years, primarily with the OMNI product. And -- so that has helped us. I would say that a significant portion, about 2/3 of the volume in the quarter was associated with accounts where we have some level of Interventional Glaucoma engagement. And so we're very happy to see that. We do see higher utilization in those accounts versus what we see in an IDE-only account. And that has been a primary leverage point in these early days where market access is in that Medicare beneficiary population, which of course has a lot of synergies with that glaucoma base of patients. And, you know, of course, patients with glaucoma, there is a significant amount of overlap with dry eye in that population as well. Joseph Conway: And then maybe just an update on the manufacturing transition to outside of China. Just wondering when that would be complete? And maybe how should we think about the benefit of that once it's fully transitioned? Jim Rodberg: Yes, hi, this is Jim. I can take that one. So expect that transition and diversification of our supply chain to be complete here in the second half of 2026. Overall, this was not a cost reduction play. While we're always obviously looking to reduce costs and optimize our manufacturing. That wasn't the sole purpose of this. So we don't expect to see a significant impact to our already really strong margins. Joseph Conway: Congrats on the quarter. Operator: [Operator Instructions] Our next question comes from the line of Joanne Wuensch with Citi. Joanne Wuensch: When I'm rolling through this model, the number of active customers, new customers for glaucoma, significantly higher than what you've seen normally in the second quarter. Was there a particular promotion? Is this tied to particular reimbursement? Or is just a matter of post-LCD impacts utilization and practice and training has settled out? Jim Rodberg: Yes, thanks, Joanne. I could take that. Nothing abnormal. I would say it's really good execution by our team, a market that is more stable and growing. Those are all the contributing factors to this. I think for us to be -- to exit Q2 with an all-time high in active accounts says a lot. The team is performing really well. And it says a lot about our technology and the execution of our sales force. Paul Badawi: Yes, Joanne, we've been at it for a while, as you know. We maintained laser focus on our interventional categories, IG and IDE, and we've been executing commercially with focus in IG for many years. We've been iterating our market-leading implant-free IG technology for many years. And I think you saw the results of all of that focus and strong execution in all of those results across the board. Joanne Wuensch: And my second question has to do with expenses. You've been excellent at managing your expenses over the last couple of quarters. Should we think of that as a continued trend? Or are you at a steady flow rate at this stage? Jim Rodberg: Yes, Joanne, I can take that one. So as we look in the back half of 2026, we will be making additional investments in the business, largely in SG&A. There's a couple of key areas here. TearCare commercial buildup as we continue to scale there. We'll continue to make investments in TearCare market access to continue to build out our market access initiatives and progress in Dry Eye. And then continued investments within the Glaucoma business on standalone as well as driving strong execution there. And we'll continue to make investments in our pipeline. So to answer your question, we will see an uptick in OpEx, but those are -- we will be disciplined in our investments like we've shown over the last couple of years and will continue to have a mix of high-return investments while also looking for cash flow breakeven and working towards that. All of that has been built into the guidance that we set, but I think it's important to understand our investment philosophy remains looking for high-return opportunities while being very financially disciplined and working towards cash flow breakeven. Operator: This concludes the question and answer session. I would now like to turn it back to Paul Badawi for closing remarks. Paul Badawi: Thank you for joining us today and for your continued interest in Sight Sciences. We are encouraged by our second quarter performance and the momentum and progress we are making across the business. We remain focused on disciplined execution and look forward to updating you on our progress next quarter. Thank you. Operator: Thank you for your participation in today's conference. This does conclude the program. You may now disconnect. Before you buy stock in Sight Sciences, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Sight Sciences wasn’t one of them. The 10 stocks that made the cut are built for long-term growth and could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $403,337!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,334,946!* That performance is why people listen. With a track record of beating the S&P 500 by 4x, Stock Advisor offers a distinct advantage. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built for the long haul. See the 10 stocks » *Stock Advisor returns as of August 12, 2026. This article is a transcript of this conference call produced for The Motley Fool. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Sight Sciences (SGHT) Q2 2026 Earnings Call Transcript was originally published by The Motley Fool

This article first appeared on GuruFocus. Total Revenue: $23.4 million, a 20% increase year-over-year, the strongest quarterly growth rate in three years. Interventional Glaucoma Revenue: $20.7 million, up 8% year-over-year, driven by increased Omni volume, record active accounts, and stronger utilization. Interventional Dry Eye Revenue: $2.7 million, a record, nearly doubling from $1.4 million in the first quarter of 2026. Gross Margin: 91%, up from 85% in the prior year period, including a $1.4 million one-time benefit from tariff refunds. Interventional Glaucoma Gross Margin: 92%, including a $1.2 million tariff refund benefit; 86% excluding tariff refunds, in line with the prior year. Interventional Dry Eye Gross Margin: 85%, including a $0.1 million tariff refund benefit; 80% excluding tariff refunds, up significantly from 38% in the prior year period. Total Operating Expenses: $25.3 million, a decrease of 11% compared to $28.3 million in the same period in the prior year. Adjusted Operating Expenses: $22.3 million, down 8% compared to $24.4 million in the prior year period. Net Loss: $4.4 million, a 63% improvement from $11.9 million in the second quarter of 2025. Net Loss Per Share: $0.08, compared to $0.23 in the second quarter of 2025. Cash and Cash Equivalents: $79.8 million at the end of the quarter, compared to $85 million at the end of the first quarter. Cash Used in Quarter: Excluding one-time items, $1.4 million, down 81% from $7.3 million in the second quarter of 2025. Debt: $40 million, excluding unamortized discount and debt issuance costs. Full-Year 2026 Revenue Guidance: Raised to $88 million to $92 million, reflecting growth of 14% to 19% compared to 2025. Full-Year 2026 Interventional Glaucoma Revenue Guidance: Narrowed to the high end of the range at $79 million to $81 million. Full-Year 2026 Interventional Dry Eye Revenue Guidance: Raised to $9 million to $11 million, up from the previous range of $6 million to $8 million. Full-Year 2026 Adjusted Operating Expense Guidance: Reduced to $92 million to $94 million. Warning! GuruFocus has detected 3 Warning Signs with SGHT. Is SGHT fairly valued? Test your thesis with our free DCF calculator. Release Date: August 05, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Sight Sciences Inc (NASDAQ:SGHT) delivered a strong second quarter with total revenue growing 20% year-over-year, its highest growth rate since 2023 and the second consecutive quarter of double-digit growth. Interventional dry eye achieved record revenue of $2.7 million, nearly doubling from the first quarter, driven by a significant increase in ordering accounts (from 96 to 176) and higher average utilization. Interventional glaucoma revenue grew 8% year-over-year to $20.7 million, with ordering accounts reaching an all-time high and utilization returning to its highest level since Q4 2024. The company raised its full-year 2026 revenue guidance to $88 million to $92 million and lowered its adjusted operating expense guidance to $92 million to $94 million, reflecting improved operational efficiency. Sight Sciences Inc (NASDAQ:SGHT) secured a major market access win with Aetna, adding approximately 25 million covered lives for its Omni and Scion procedures, and expanded TierCare patient lives with appropriate reimbursement to 14.5 million. The company's net loss improved significantly to $4.4 million, a 63% improvement year-over-year, and cash usage (excluding one-time items) decreased by 81% to $1.4 million, positioning it to achieve cash flow breakeven without raising additional equity. The company's interventional glaucoma growth is expected to moderate to mid-single-digits in Q3 2026, reflecting tougher prior-year comparisons and historically lower procedural trends in the third quarter. The company's gross margin was positively impacted by a one-time $1.4 million tariff refund; excluding this benefit, interventional glaucoma gross margin was 86%, in line with the prior year, and interventional dry eye gross margin was 80%. The company has not yet received any cash from the $55 million Alcon patent litigation judgment, as Alcon has filed an appeal, and the company continues to progress through the remaining legal and appellate processes. The company's interventional dry eye revenue guidance for Q3 2026 is approximately $3 million, which, while showing sequential growth, represents a significant slowdown from the near-doubling seen in Q2. The company's updated guidance does not assume incremental market access wins in the back half of 2026, meaning that any additional payer coverage decisions would be upside but are not guaranteed. The company will continue to make investments in SG&A, particularly in TierCare commercial build-out and market access, which will lead to an uptick in operating expenses in the back half of the year. Q: Can you provide more detail on the interventional glaucoma market dynamics, given the strong growth in Q1 and Q2? Is the market back to a healthy growth mode, and what are the underlying trends going forward? A: Paul Badawi (Co-founder, CEO): We agree that the interventional glaucoma market is back in growth mode, likely mid-single-digits, and we are finally operating in a stable environment. Our commercial priorities remain focused on growing in the combo cataract market by taking share and adding new surgeons, while also developing the stand-alone market with a dedicated team and a playbook that is beginning to contribute to growth. We believe the outlook for 2027 remains stable, allowing us to focus on commercial excellence. Q: Regarding the 4.1 million covered lives added in Q2 from new payer fee schedules, when did these come online, and how much of an impact did they have on Q2 results? Is additional payer coverage embedded in the updated dry eye guidance? A: Paul Badawi (Co-founder, CEO): The impact on Q2 was very modest, as providers were still in the early testing phase, wanting to see a handful of claims get paid before fully integrating the plans. We expect a growing impact in the back half of 2026, which was factored into our guidance. However, we did not assume any incremental market access wins in our revenue guidance for the year. While we still anticipate additional payers will establish fee schedules or coverage policies, we have not included those potential wins in our current projections. Q: With the active account base nearly doubling in the dry eye business, are you seeing volume spread out across new accounts, or are top accounts still doing the heavy lifting? A: Paul Badawi (Co-founder, CEO): We are seeing traction across a variety of accounts with consistent utilization. While the top 10 accounts continue to perform at a much higher utilization rate, as expected, we are very happy with the durable repeatability we are seeing across the board. Accounts are reordering and building their Tier Care business line, indicating that the procedure is being integrated into their practice workflows. Q: Can you walk us through the launch plan for Omni Ultra following its FDA clearance? What is the timeline, and is any contribution from Ultra baked into the 2026 guidance? A: Paul Badawi (Co-founder, CEO): We are targeting the full launch for the American Academy of Ophthalmology (AAO) meeting in a couple of months. Between now and then, we will be rolling out Ultra to early users and close partners to gather feedback. We have already done early human testing outside the US and are confident in its performance. The launch will occur in three stages: an early release now, the launch at AAO, and then broad utilization and training in 2027. The full launch to the broad market will kick in during 2027. Q: What gives you confidence that more positive MAC (Medicare Administrative Contractor) decisions will occur by the end of this year, and what is driving the ongoing dialogue? A: Paul Badawi (Co-founder, CEO): Our confidence is anchored in our strong clinical data from the SAHARA trial, a long head-to-head RCT versus the standard of care, which is quite compelling. We also have strong health economic data showing the procedure can save payers money over time versus traditional prescription eye drops. We are focused on increasing patient and provider advocacy with payers to show this is a priority. While the timing of payer decisions is outside our control, we feel good about the conversations and engagement we are having and believe we have a pathway to establish more fee schedules or coverage policies this year. Q: Can you disaggregate the growth in interventional glaucoma between stand-alone and combo cataract procedures? Where does stand-alone currently sit as a percentage of total glaucoma revenue? A: Paul Badawi (Co-founder, CEO): We believe the stand-alone market is growing in terms of mix. Historically, our mix was roughly mid-80s for combo cataract and mid-teens for stand-alone. We believe that mix is shifting more toward stand-alone as we focus on pseudophakic market development. Claims data shows stand-alone claims are growing as a percentage of the overall MIGS market, and we believe our stand-alone mix is growing faster than the overall market mix. Q: How confident are you in striking the right balance between spending discipline and supporting key growth initiatives like Tier Care and Omni Ultra? A: Paul Badawi (Co-founder, CEO): We believe we have struck a very good balance. Over the past few years, we were forced to look closely at our business and make it as efficient as possible, which we did very well. Today, with both IG and IDE back in growth and the synergies from the "intersection of intervention," we believe we are flying a plane with two strong engines. Coupled with the operational discipline we developed, we have a good balance between growth and spend, which is on display today and will be carried forward. Q: The Q3 guidance for interventional glaucoma implies roughly flattish sequential revenue, which is unusual given typical seasonality. What gives you confidence in achieving this level of growth? A: Jim Rodberg (CFO): We are proud of the team's execution in the first half, exiting Q2 with a record number of active accounts and four consecutive quarters of growth in interventional glaucoma. We expect that momentum to continue. Q3 of last year was unseasonably strong across medtech, and our guidance reflects a mix of the momentum we are seeing and the strength in underlying metrics, offset by potential seasonality. We feel good about how we closed out the first half and are entering Q3 with a lot of momentum. Q: Have you seen any competitive response from Lipiflow or iLux in the dry eye market, and how is Tier Care utilization performing in existing Omni accounts? A: Paul Badawi (Co-founder, CEO): Tier Care is in a class of its own, as we are the only ones with an RCT showing head-to-head clinical data that supports market access and reimbursed care. Other products operate in the cash-pay segment and we have not seen any new market dynamics or competitive responses. Regarding utilization, we continue to see strong synergies with our interventional glaucoma business. About two-thirds of the volume in the quarter came from accounts with some level of IG engagement, and those accounts show significantly higher utilization than IDE-only accounts. Q: Can you provide an update on the manufacturing transition outside of China? When will it be For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Interested in Sight Sciences, Inc.? Here are five stocks we like better. Second-quarter revenue rose 20% year over year to $23.4 million, driven by 8% growth in interventional glaucoma revenue and nearly doubled interventional dry eye revenue. Operating expenses, net loss and adjusted cash use all declined substantially. Sight Sciences raised its 2026 revenue outlook to $88 million–$92 million and increased interventional dry eye guidance to $9 million–$11 million, while lowering adjusted operating expense guidance to $92 million–$94 million. TearCare adoption and reimbursement access expanded, while glaucoma growth benefited from higher OMNI utilization, broader payer coverage and the planned launch of next-generation OMNI Ultra technology. Sight Sciences (NASDAQ:SGHT) reported second-quarter revenue growth of 20% year over year, supported by gains in its interventional glaucoma and interventional dry eye businesses, while reducing operating expenses and cash usage. The company raised its full-year revenue outlook and lowered its adjusted operating expense guidance. Total revenue for the quarter ended June 30 was $23.4 million, up from the prior-year period and representing the company’s strongest quarterly growth rate in three years, Chief Financial Officer Jim Rodberg said. Interventional glaucoma revenue rose 8% to $20.7 million, while interventional dry eye revenue reached a record $2.7 million, nearly doubling from $1.4 million in the first quarter. → SpaceX’s First Earnings Report Could Decide Whether Shorts or Bulls Have Control “We delivered a strong second quarter with revenue growing 20% year-over-year,” Co-founder and Chief Executive Officer Paul Badawi said, citing growth across both business segments and improved operating results. The company’s interventional dry eye business benefited from increasing adoption of its TearCare treatment platform in reimbursed markets. Ordering accounts increased to 176 during the second quarter from 96 in the first quarter, and those accounts purchased more than 3,000 SmartLids, more than twice the prior-quarter volume. → 3 Drone Stocks That Should Soar After the Summer Slump Average utilization increased to approximately 18 SmartLids per active account, from 16 in the first quarter. Badawi said roughly two-thirds of SmartLids volume came from accounts that also use Sight Sciences’ interventional glaucoma products, with those overlapping accounts showing higher utilization than dry eye-only customers. During the quarter, the company added approximately 4.1 million patient lives with access to appropriate reimbursement, bringing the total to approximately 14.5 million from 10.4 million. Chief Operating Officer Ali Bauerlein said some Medicare Advantage plans added fee schedules to provider portals during the quarter, and providers have begun submitting claims and receiving payment. → The Bitcoin Comeback May Already Be Underway—2 ETFs for Exposure However, Bauerlein said the contribution from those payer developments to second-quarter results was “very modest,” as providers were still testing claims submissions. The company expects the effect to grow during the second half of 2026. Sight Sciences increased its full-year interventional dry eye revenue guidance to $9 million to $11 million, up from a prior range of $6 million to $8 million. Management said the updated outlook does not assume additional market-access wins, although it continues discussions with Medicare Administrative Contractors and commercial payers regarding coverage policies and fee schedules. Bauerlein said the company’s payer discussions are supported by clinical data from the SAHARA trial and health economic data that management believes demonstrate benefits relative to prescription eye drops. She cautioned that payer decisions and their timing remain outside the company’s control. Interventional glaucoma revenue of $20.7 million increased 8% from the year-earlier quarter, driven by higher OMNI procedure volumes, a record number of active accounts and stronger utilization. Ordering accounts increased 3% year over year, while utilization returned to its highest level since the fourth quarter of 2024, according to Badawi. Management said it believes the minimally invasive glaucoma surgery, or MIGS, market has returned to growth, with Badawi characterizing expected market growth as potentially in the mid-single digits. The company continues to focus on surgeon additions and utilization in combination cataract procedures, while developing the standalone glaucoma market. In July, Aetna expanded coverage of OMNI and SION to approximately 25 million covered lives, the company said. Aetna now recognizes certain implant-free glaucoma procedures as medically necessary for mild to moderate open-angle glaucoma when specified clinical criteria are met. Sight Sciences said it has now secured access for canaloplasty and goniotomy procedures across all major national payers. The company also is preparing to launch OMNI Ultra, its next-generation glaucoma technology, after receiving FDA 510(k) clearance. The product includes a single-pass canaloplasty capability and TruSync+ technology for automated, controlled viscoelastic delivery. Badawi said the company plans an early release to select surgeons and partners before a broader launch at the American Academy of Ophthalmology meeting later this year, with broad utilization and training expected in 2027. Sight Sciences narrowed its full-year interventional glaucoma revenue outlook to $79 million to $81 million, compared with its prior range of $77 million to $81 million. Gross margin was 91% in the second quarter, compared with 85% a year earlier. Rodberg said the result included a one-time $1.4 million benefit from tariff refunds. Excluding tariff refunds, interventional glaucoma gross margin was 86%, in line with the prior-year period, while interventional dry eye gross margin was 80%, up from 38%, primarily due to higher average selling prices. Total operating expenses declined 11% to $25.3 million, while adjusted operating expenses fell 8% to $22.3 million. Net loss narrowed 63% to $4.4 million, or $0.08 per share, from $11.9 million, or $0.23 per share, in the second quarter of 2025. The company ended the quarter with $79.8 million in cash and cash equivalents and $40 million of debt, excluding unamortized discount and debt issuance costs. Reported cash use included a one-time $5.4 million success-fee payment related to the company’s litigation against Alcon, partially offset by $1.6 million in tariff refunds. Excluding those items, cash use was $1.4 million, down 81% from the prior-year quarter. Rodberg said Sight Sciences believes its operating discipline and current cost structure position it to reach cash flow breakeven without raising additional equity capital. The company lowered full-year adjusted operating expense guidance to $92 million to $94 million, from $93 million to $96 million, while noting that it expects to continue investing in TearCare commercialization, market access, glaucoma growth initiatives and its product pipeline. For 2026, Sight Sciences raised total revenue guidance to $88 million to $92 million, representing projected growth of 14% to 19% from 2025, compared with prior guidance of $83 million to $89 million. Sight Sciences, Inc is a medical device company focused on developing and commercializing minimally invasive treatments for chronic eye diseases. The company's flagship products include the OMNI® Surgical System, designed to address multiple points of resistance in the eye's natural drainage pathways to lower intraocular pressure in glaucoma patients, and the TearCare® System, a wearable device for treating meibomian gland dysfunction and dry eye disease through targeted thermal pulsation therapy. Since its founding in 2012 and subsequent listing on the NASDAQ under the ticker SGHT, Sight Sciences has pursued a strategy of combining research-driven product development with a direct sales force model. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Sight Sciences Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

Raises Full-Year 2026 Revenue Guidance and Reduces Adjusted Operating Expense Guidance MENLO PARK, Calif., Aug. 05, 2026 (GLOBE NEWSWIRE) -- Sight Sciences, Inc. (Nasdaq: SGHT) (Sight Sciences or the Company), an eyecare technology company focused on developing and commercializing innovative, interventional technologies intended to transform care and improve patients’ lives, today reported financial results for the second quarter ended June 30, 2026, raised its revenue guidance and reduced its adjusted operating expense guidance, both for full year 2026. Recent Financial and Business Highlights Second quarter revenue of $23.4 million, a 20% increase compared to $19.6 million in the second quarter of 2025. Interventional Glaucoma (IG) revenue of $20.7 million, an 8% increase compared to $19.2 million in the second quarter of 2025. Record Interventional Dry Eye (IDE) revenue of $2.7 million, a 704% increase compared to $0.3 million in the second quarter of 2025, and a 98% increase compared to $1.4 million in the first quarter of 2026. Cash and cash equivalents totaled $79.8 million as of June 30, 2026. Cash usage was $5.2 million in the second quarter of 2026, a 28% improvement compared to the same period in the prior year. Cash usage included $3.8 million of non-recurring items in the quarter, including a $5.4 million litigation success fee, partially offset by $1.6 million of tariff refunds received. Excluding these one-time items, cash usage was $1.4 million, down 81% compared to the same period in the prior year. Added an estimated 4.1 million patient lives in the second quarter of 2026 following publication of fee schedules from certain insurance plans that align with recently updated Medicare pricing for CPT® code 0563T, increasing total IDE patient lives with access to appropriate reimbursement from approximately 10.4 million to 14.5 million1. IG coverage expanded with the addition of approximately 25 million commercial covered lives from Aetna® Inc. (Aetna), one of the largest health plans in the United States. Aetna now recognizes certain implant-free glaucoma procedures, including ab interno canaloplasty (e.g., OMNI) and adult goniotomy (e.g., SION) as medically necessary for mild-to-moderate open-angle glaucoma when specified clinical criteria are met. This coverage policy is retroactive to  July 14, 2026. Received U.S. Food and Drug Administration 510(k) clearance of the OMNI® Ultra Surgical System (OMNI Ultra). OMNI Ultra with TruSync™ Plus technology is designed to provide surgeons with improved procedural control, efficiency, and versatility, while maintaining the safety and reliability of the OMNI platform. “We delivered a strong second quarter, with revenue growth accelerating to 20% year-over-year, and both business segments contributing meaningfully to the robust growth. Our performance reflects the growing interventional mindset across glaucoma and dry eye disease, the strength of our market-leading technologies, and the focus of our experienced commercial teams in partnering with customers to make interventional eye care the new standard of care,” said Paul Badawi, Co-Founder and CEO of Sight Sciences. “Interventional Glaucoma revenue grew 8%, marking our fourth consecutive quarter of growth, and Interventional Dry Eye revenue nearly doubled sequentially for the second consecutive quarter and reached record quarterly sales. Importantly, we achieved this growth while maintaining strong gross margins and disciplined operating expense and cash management. Based on our year-to-date performance and business momentum, we are raising our 2026 revenue guidance, reducing our adjusted operating expense guidance, and we believe we are well positioned for the second half of the year.” Second Quarter 2026 Financial ResultsRevenue for the second quarter of 2026 was $23.4 million, an increase of 20% compared to the same period in the prior year. Interventional Glaucoma revenue was $20.7 million, an increase of 8% compared to the same period in the prior year. Growth was primarily driven by increased volumes. Interventional Dry Eye revenue was $2.7 million, increasing 704% from $0.3 million in the same period in the prior year. Growth was driven primarily by increased volumes and higher average selling prices. Gross profit for the second quarter of 2026 was $21.4 million compared to $16.6 million in the same period in the prior year. Gross margin for the second quarter of 2026 was 91%, including a $1.4 million benefit from tariff refunds received in the quarter. Excluding tariff refunds, gross margin was 86%, compared to 85% in the same period in the prior year. Interventional Glaucoma gross margin was 92%, which included a 6% benefit from tariff refunds in the quarter. Excluding tariff refunds, Interventional Glaucoma gross margin was 86%, in-line with the same period in the prior year. Interventional Dry Eye gross margin was 85%, which included a 5% benefit from tariff refunds in the quarter. Excluding tariff refunds, Interventional Dry Eye gross margin was 80%, up significantly from 38% in the same period in the prior year, primarily due to higher average selling prices. Total operating expenses were $25.3 million in the second quarter of 2026, representing an 11% decrease compared to $28.3 million in the same period in the prior year, primarily due to lower personnel-related expenses and stock-based compensation. Research and development expenses were $2.5 million in the second quarter of 2026 compared to $4.4 million in the same period in the prior year, representing a 43% decrease. Selling, general, and administrative expenses were $22.8 million in the second quarter of 2026, compared to $23.9 million in the same period in the prior year, representing a 5% decrease. Adjusted operating expenses2,3 were $22.3 million in the second quarter of 2026, an 8% decrease compared to the same period in the prior year. Net loss was $4.4 million, a 63% improvement from $11.9 million in the prior year period. Net loss per share was $0.08, compared to $0.23 in the second quarter of 2025. Cash and cash equivalents totaled $79.8 million and total long-term debt was $40.0 million (excluding unamortized debt discount and debt issuance costs) as of June 30, 2026, compared to $85.0 million and $40.0 million, respectively, as of March 31, 2026. Cash used in the second quarter of 2026 totaled $5.2 million, a 28% decrease compared to $7.3 million in the second quarter of 2025. 2026 Financial GuidanceSight Sciences raised its revenue guidance for full year 2026 to range from $88 million to $92 million, representing year-over-year growth of 14% to 19%, versus prior revenue guidance of $83 million to $89 million. This revenue guidance includes Interventional Glaucoma revenue of $79 million to $81 million, representing growth of 4% to 7%, and Interventional Dry Eye revenue of $9 million to $11 million, compared to $1.6 million in 2025. The Company reduced its full year 2026 adjusted operating expenses2,4 guidance to range from $92 million to $94 million, representing an increase of 5% to 7% compared to 2025, versus prior adjusted operating expenses guidance of $93 million to $96 million. The increase compared to the prior year is primarily due to targeted investments in both business segments, including expanded market access efforts and additional commercial resources to scale the reimbursed dry eye market and the standalone glaucoma opportunity. 1 Published fee schedules include fee schedule amounts posted on public websites and posted by insurance plans to their provider-accessible portals. Total estimated number of patient lives is derived from publicly available information and includes Medicare Part B beneficiaries, Medicare Advantage Plan enrollees, and other insured individuals.  TearCare procedure claims are payable based on individual medical necessity determinations.    2 “Adjusted operating expenses” is a financial measure not prepared in accordance with generally accepted accounting principles in the United States (“GAAP”, and is referred to as a “non-GAAP financial measure”). “Adjusted operating expenses” is calculated as operating expenses less stock-based compensation expense, depreciation and amortization, restructuring costs, and other one-time costs. 3 A reconciliation of the non-GAAP financial measure to the most directly comparable GAAP financial measure has been provided in the table titled "GAAP to Non-GAAP Reconciliation" attached to this press release.4 Consistent with Securities and Exchange Commission (“SEC”) regulations, the Company has not provided a reconciliation of forward-looking non-GAAP financial measures to the most directly comparable GAAP financial measures in reliance on the “unreasonable efforts” exception set forth in the applicable regulations, because there is substantial uncertainty associated with predicting any future adjustments that may be made to the Company’s GAAP financial measures in calculating the non-GAAP financial measures. Non-GAAP Financial MeasuresAdjusted operating expenses, a non-GAAP financial measure, is presented in this press release to provide information that may assist investors in understanding the Company's financial and operating results. The Company believes this non-GAAP financial measure is an important performance indicator because it excludes items that are unrelated to, and may not be indicative of, the Company's core financial and operating results. This non-GAAP financial measure, as calculated, may not necessarily be comparable to similarly titled measures of other companies and may not be an appropriate measure for comparing the performance of other companies relative to the Company. This non-GAAP financial measure is not intended to represent, and should not be considered to be a more meaningful measure than, or an alternative to, measures of operating performance as determined in accordance with GAAP. To the extent the Company utilizes such non-GAAP financial measure in the future, it expects to calculate it using a consistent method from period to period. A reconciliation of adjusted operating expenses to the most directly comparable GAAP financial measure has been provided in the table titled "Non-GAAP to GAAP Reconciliation" attached to this press release. Conference Call Sight Sciences' management team will host a conference call today, August 5, 2026, beginning at 1:30 p.m. Pacific Time / 4:30 p.m. Eastern Time. Investors interested in listening to the conference call may do so by accessing a live and archived webcast of the event at www.sightsciences.com, on the Investors page in the News & Events section. About Sight SciencesSight 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 and OMNI® Edge Surgical System are implant-free, minimally invasive glaucoma surgery technologies indicated in the United States to reduce intraocular pressure in adult patients with primary open-angle glaucoma. The OMNI Surgical System is 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 System 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 disease (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, TearCare, and SmartLids are trademarks of Sight Sciences registered in the United States. OMNI, SION, and the Sight Sciences logo are trademarks of Sight Sciences registered in the United States, European Union and other territories. TruSync is a trademark of Sight Sciences. CPT is a registered trademark of the American Medical Association. Aetna is a registered trademark of Aetna Inc. © 2026 Sight Sciences. All rights reserved. Forward-Looking StatementsThis 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 these 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 the Company’s projected financial results, including revenue and adjusted operating expenses, market acceptance of our products, our ability to achieve our business strategy and objectives, our ability to make interventional eye care the new standard of care, and our ability to create long-term value for our stockholders.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, including without limitation changes to reimbursement coverage or payment decisions or reimbursement rates for our products; pricing pressure or changes in market share resulting from the evolving competitive landscape; the impact of tariffs on our products and the medical device industry generally; and disruptions to or increased costs associated with our supply chain, including as a result of having a limited number of suppliers. Should our underlying assumptions prove incorrect, actual results may 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 SEC, 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 TaylorGilmartin [email protected] Media contact: [email protected] 5 Please see section titled "Non-GAAP Financial Measures" for additional information. 6 “Interventional Glaucoma active customers” means the number of customers who ordered the OMNI Surgical System or the SION Surgical Instrument during the three months ended June 30, 2026 and 2025.7 “Interventional Dry Eye lid treatment units sold” means the quantity of TearCare SmartLids® sold during the three months ended June 30, 2026 and 2025.8 “Interventional Dry Eye active customers” means the number of customers who ordered lid treatment units during the three months ended June 30, 2026 and 2025.

Integra LifeSciences (IART) came out with quarterly earnings of $0.56 per share, beating the Zacks Consensus Estimate of $0.48 per share. This compares to earnings of $0.45 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +16.67%. A quarter ago, it was expected that this medical device maker would post earnings of $0.41 per share when it actually produced earnings of $0.54, delivering a surprise of +31.71%. Over the last four quarters, the company has surpassed consensus EPS estimates four times. Integra, which belongs to the Zacks Medical - Instruments industry, posted revenues of $418.76 million for the quarter ended June 2026, missing the Zacks Consensus Estimate by 0.2%. This compares to year-ago revenues of $415.61 million. The company has topped consensus revenue estimates two times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Integra shares have added about 59.1% since the beginning of the year versus the S&P 500's gain of 8.5%. While Integra has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Integra was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.58 on $415.81 million in revenues for the coming quarter and $2.45 on $1.67 billion in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Medical - Instruments is currently in the bottom 39% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Another stock from the same industry, Sight Sciences, Inc. (SGHT), has yet to report results for the quarter ended June 2026. The results are expected to be released on August 5. This company is expected to post quarterly loss of $0.15 per share in its upcoming report, which represents a year-over-year change of +34.8%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Sight Sciences, Inc.'s revenues are expected to be $21.75 million, up 11.2% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Integra LifeSciences Holdings Corporation (IART) : Free Stock Analysis Report Sight Sciences, Inc. (SGHT) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

MENLO PARK, Calif., July 22, 2026 (GLOBE NEWSWIRE) -- Sight Sciences, Inc. (Nasdaq: SGHT) (Sight Sciences or the Company), an eyecare technology company focused on developing and commercializing innovative, interventional technologies intended to transform care and improve patients' lives, today announced it will report financial results for the second quarter ended June 30, 2026, after the market close on Wednesday, August 5, 2026. The Company’s management will discuss the results during a conference call beginning at 1:30 p.m. Pacific Time / 4:30 p.m. Eastern Time. Investors interested in listening to the conference call may do so by accessing a live and archived webcast of the event at www.sightsciences.com, on the Investors page in the News & Events section. The webcast will be available for replay for at least 90 days after the event. 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 and OMNI® Edge Surgical System are implant-free, minimally invasive glaucoma surgery technologies indicated in the United States to reduce intraocular pressure in adult patients with primary open-angle glaucoma. The OMNI Surgical System is 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 System 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 disease (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 and TearCare are trademarks of Sight Sciences registered in the United States. OMNI, SION, SmartLids, and the Sight Sciences logo are trademarks of Sight Sciences registered in the United States, European Union and other territories. © 2026 Sight Sciences. All rights reserved. Media contact:[email protected] Investor contact:Philip TaylorGilmartin [email protected]

Sight Sciences reported a “strong start” to 2026 with total Q1 revenue of $19.7 million, up 13% year-over-year, gross margin of 86%, a narrower net loss of $13.0 million, and cash of $85 million while quarterly cash usage fell to $7 million. Interventional Dry Eye revenue nearly doubled sequentially to $1.4 million driven by ~1,500 SmartLids sold (vs. ~700 in Q4), prompting management to raise dry eye guidance and project $6–8 million for the full year. Management raised full-year revenue guidance to $83–$89 million and kept adjusted operating expense guidance of $93–$96 million, while a court upheld a ~ $55 million past-damages judgment (plus ongoing royalties) in patent litigation with Alcon that is subject to appeal and not yet collected; the company says it is positioned to reach cash-flow breakeven without raising equity. Interested in Sight Sciences, Inc.? Here are five stocks we like better. Sight Sciences (NASDAQ:SGHT) reported first-quarter 2026 results that management said marked a “strong start” to the year, highlighted by a return to double-digit revenue growth, steady gross margin performance, and lower cash usage. The company also raised its full-year 2026 revenue guidance while maintaining its adjusted operating expense outlook. Co-Founder and CEO Paul Badawi said the company delivered “a strong start to 2026” with results reflecting “a return to double-digit revenue growth, continued strength in gross margin, and disciplined operating expense and cash management.” → Berkshire Hathaway’s Record Cash Hoard: Why and What's Next? CFO Jim Rodberg reported total revenue of $19.7 million in the first quarter, up 13% year over year, “driven by growth in each of our two Interventional segments.” Gross margin was 86%, flat compared to the prior-year period. Interventional Glaucoma (OMNI): Revenue of $18.3 million, up 7% year over year. Interventional Dry Eye (TearCare): Revenue of $1.4 million, up from $0.4 million in the prior-year period and “nearly doubling” from the fourth quarter of 2025. Rodberg said net loss was $13.0 million, or $0.24 per share, compared with a net loss of $14.2 million, or $0.28 per share, in the year-ago quarter. The company ended the quarter with $85 million in cash and cash equivalents, down from $92 million at the end of 2025, and reported $7 million of cash used in the quarter versus $11.6 million in the first quarter of 2025. → A Prada Payday: Is AMC Back in Style? Badawi said the company’s Interventional Dry Eye business delivered “continued positive commercial traction,” with revenue nearly doubling from the fourth quarter, which he described as “early validation of our procedural in-office recurring revenue business model.” Based on first-quarter performance, Sight Sciences increased its Interventional Dry Eye revenue guidance by $1 million at the midpoint, according to Badawi. Badawi attributed the quarter’s $1.4 million in dry eye revenue primarily to disposable SmartLids. He said the company sold approximately 1,500 SmartLids in the quarter, up from about 700 in the fourth quarter of 2025, with sales to 96 accounts comprised of a “balanced mix of new accounts and reordering accounts.” Average SmartLids utilization increased from about nine per active account in the fourth quarter to about 16 per active account in the first quarter. → Insider Sales: Top AST SpaceMobile Insider Cuts Postion Over 30% COO Ali Bauerlein said utilization remains early across the customer base, noting that even the largest accounts are not yet “fully activating this across their patient population.” She added that about 10% of accounts are driving a larger portion of volume and have “really figured out the workflow.” Management emphasized that early performance has been strongest in the First Coast and Novitas regions, where fee schedules were recently established. Bauerlein told analysts the company’s 2026 dry eye guidance assumes only those two fee schedules and does not require additional payer wins to reach its targets. She said the company remains engaged with multiple Medicare Administrative Contractors and commercial payers, and “still expect[s] to have additional payer wins in 2026,” while cautioning that timing is difficult to predict. On the size of the opportunity, Bauerlein said the company has historically discussed about 6,500 U.S. eye care providers as an initial target population, with about 2,000 in First Coast and Novitas that meet similar criteria. She also said the company is currently deploying sales resources with “density within four or five main states,” while indicating there is still room to expand coverage even within large states. In Interventional Glaucoma, Badawi said OMNI delivered the “third consecutive quarter of year-over-year growth,” and pointed to broader market momentum around “earlier intervention” in glaucoma care. He called OMNI “the leading implant-free, micro-invasive glaucoma surgical option in the market.” Rodberg said the segment’s revenue increase was driven by increases in ordering accounts and average selling prices, partially offset by lower utilization per account. Badawi added that procedure volumes increased in March following “a slower than typical start in January and February,” and said the company saw continued strong adoption of OMNI Edge, which he said supported account reactivation and new account additions. Ordering accounts increased 6% year over year, driven primarily by reactivating dormant accounts and adding new accounts, according to Badawi. Rodberg added that ordering accounts grew 1% sequentially from the fourth quarter. Badawi also discussed the company’s approach to expanding both the combo cataract and standalone opportunities in 2026, including training new surgeons and using a dedicated market development team for standalone procedures. He said the team is helping practices introduce a streamlined interventional glaucoma workflow modeled after cataract workflows. For full-year 2026, Rodberg said the company raised revenue guidance to $83 million to $89 million, up from prior guidance of $82 million to $88 million. The updated outlook includes: Interventional Glaucoma: $77 million to $81 million in revenue (2% to 7% growth versus 2025). Interventional Dry Eye: $6 million to $8 million in revenue (compared to $1.6 million in the prior year). For the second quarter, Rodberg said the company expects total revenue to grow “low double digits” year over year, with Interventional Glaucoma revenue expected to grow “mid-single digits.” Interventional Dry Eye revenue is expected to be $1.5 million to $2.0 million in the second quarter, and Rodberg said the company expects that revenue to “continue to scale throughout the year.” The company reaffirmed full-year 2026 adjusted operating expense guidance of $93 million to $96 million. Rodberg said the year-over-year increase reflects “targeted commercial investments” in both segments, while maintaining operating discipline. He pointed to the company’s reduced cost structure following a reduction in force in the third quarter of 2025, noting the first quarter was the “second full quarter” at that lower structure. Adjusted operating expenses were $21.2 million, down 14% from $24.7 million. On GAAP operating expenses, Rodberg reported total operating expenses of $29.4 million, up 2% year over year, primarily due to a $5.4 million one-time fee earned upon a successful final judgment in the company’s patent litigation against Alcon. Badawi and Rodberg provided an update on that case, noting that in April the court issued a final judgment upholding a jury’s finding of willful infringement and confirming approximately $55 million in past damages and interest, along with ongoing royalties of 10% of Hydrus revenue through patent expiration. Rodberg said the ruling is subject to appeal, no cash has been received to date, and the company will not recognize amounts until appeals are exhausted and cash changes hands. Looking ahead, Rodberg said management believes Sight Sciences is positioned to reach cash flow breakeven “without the need to raise additional equity capital,” while continuing to invest in dry eye market access and commercialization and in expanding the standalone glaucoma opportunity. Sight Sciences, Inc is a medical device company focused on developing and commercializing minimally invasive treatments for chronic eye diseases. The company's flagship products include the OMNI® Surgical System, designed to address multiple points of resistance in the eye's natural drainage pathways to lower intraocular pressure in glaucoma patients, and the TearCare® System, a wearable device for treating meibomian gland dysfunction and dry eye disease through targeted thermal pulsation therapy. Since its founding in 2012 and subsequent listing on the NASDAQ under the ticker SGHT, Sight Sciences has pursued a strategy of combining research-driven product development with a direct sales force model. The article "Sight Sciences Q1 Earnings Call Highlights" was originally published by MarketBeat.

MENLO PARK, Calif., May 06, 2026 (GLOBE NEWSWIRE) -- Sight Sciences, Inc. (Nasdaq: SGHT) ("Sight Sciences" or the "Company"), an eyecare technology company focused on developing and commercializing innovative, interventional technologies intended to transform care and improve patients’ lives, today reported financial results for the first quarter ended March 31, 2026 and raised its revenue guidance for full year 2026. Recent Financial and Business Highlights Generated total revenue of $19.7 million in the first quarter of 2026, an increase of 13% compared to the same period in the prior year. Drove Interventional Glaucoma revenue growth of 7% in the first quarter of 2026, with revenue of $18.3 million compared to $17.1 million in the same period in the prior year. Attained Interventional Dry Eye revenue of $1.4 million in the first quarter of 2026, representing a 244% increase from the same period in the prior year and an 87% increase from the fourth quarter of 2025. Achieved total gross margin of 86% in the first quarter of 2026, flat compared to the same period in the prior year. Reduced cash usage to $7.0 million in the first quarter 2026, representing a 40% improvement compared to the same period in the prior year. Cash and cash equivalents totaled $85.0 million as of March 31, 2026. Announced that the U.S. District Court for the District of Delaware issued its final judgment on post-trial motions in the Company’s patent infringement case against Alcon Inc., Alcon Vision, LLC, Alcon Research, LLC, and Ivantis, Inc. (collectively, Alcon), preserving the jury’s verdict of willful infringement and awarding the Company past monetary damages of $55.4 million and an ongoing royalty of 10% of Hydrus® Microstent revenue through expiration of the patents-in-suit. This judgment is subject to appeal. “We delivered a strong start to 2026, with first quarter results reflecting a return to double-digit revenue growth, sustained gross margin strength, and disciplined operating expense and cash management,” said Paul Badawi, Co-Founder and CEO of Sight Sciences. “Execution was solid across both segments, including a third consecutive quarter of revenue growth in Interventional Glaucoma and continued momentum in Interventional Dry Eye, where revenue nearly doubled sequentially. We remain focused on continued growth in combination-cataract procedures and activating standalone interventions in glaucoma, and accelerating growth and expanding access to reimbursed interventional TearCare® treatments.” First Quarter 2026 Financial Results Revenue for the first quarter of 2026 was $19.7 million, an increase of 13% compared to the same period in the prior year. Interventional Glaucoma revenue was $18.3 million, an increase of 7% compared to the same period in the prior year. This improvement was primarily driven by an increase in both ordering accounts and average selling prices, slightly offset by lower utilization per account. Interventional Dry Eye revenue was $1.4 million, increasing from $0.4 million in the same period in the prior year, primarily due to increased average selling prices, utilization and ordering accounts. Gross profit for the first quarter of 2026 was $17.0 million compared to $15.1 million in the same period in the prior year. Gross margin for the first quarter of 2026 was 86%, flat compared to the same period in the prior year. Interventional Glaucoma gross margin in the first quarter of 2026 was 87%, in line with the same period in the prior year, primarily due to higher average selling prices and product mix, offset by increased tariff expense. Interventional Dry Eye gross margin in the first quarter of 2026 was 72%, up from 71% in the same period in the prior year, primarily due to higher average selling prices and increased SmartLids sold, mostly offset by a one-time inventory overhead adjustment in the prior year period. Total operating expenses were $29.4 million in the first quarter of 2026, representing a 2% increase compared to $29.0 million in the same period in the prior year, primarily due to a $5.4 million one-time success fee associated with the final judgment in the Alcon litigation, partially offset by lower personnel-related expenses and stock-based compensation. Research and development expenses were $2.5 million in the first quarter of 2026 compared to $4.4 million in the same period in the prior year, representing a 43% decrease. Selling, general, and administrative expenses were $26.8 million in the first quarter of 2026, compared to $24.5 million in the same period in the prior year, representing a 9% increase. Adjusted operating expenses1,2 were $21.2 million in the first quarter of 2026, a 14% decrease compared to the period in the prior year. Net loss was $13.0 million, or a loss of $0.24 per share, in the first quarter of 2026, compared to a net loss of $14.2 million, or a loss of $0.28 per share, in the same period in the prior year. Cash and cash equivalents totaled $85.0 million and total long-term debt was $40.0 million (before debt discount and amortized debt issuance costs) as of March 31, 2026, compared to $92.0 million and $40.0 million, respectively, as of December 31, 2025. Cash used in the first quarter of 2026 totaled $7.0 million, a significant decrease compared to $11.6 million in the first quarter of 2025. 2026 Financial Guidance Sight Sciences raises its revenue guidance for full year 2026 to range from $83.0 million to $89.0 million, representing growth of 7% to 15% compared to full year 2025, versus prior revenue guidance of $82.0 million to $88.0 million. This revenue guidance includes Interventional Glaucoma segment revenue of $77.0 million to $81.0 million, representing growth of 2% to 7% and Interventional Dry Eye segment revenue of $6.0 million to $8.0 million, compared to $1.6 million in 2025. The Company reaffirms its full year 2026 adjusted operating expenses1,3 guidance range of $93.0 million to $96.0 million, representing an increase of 6% to 9% compared to 2025. The increase compared to the prior year is primarily due to targeted investments in both business segments, including expanded market access efforts and additional commercial resources to scale the reimbursed dry eye market and the standalone glaucoma opportunity. 1 “Adjusted operating expenses” is a financial measure not prepared in accordance with generally accepted accounting principles in the United States (“GAAP”, and therefore such a measure, is a “non-GAAP financial measure”), and is calculated as operating expenses less stock-based compensation expense, depreciation and amortization, restructuring costs, and other one-time costs. Please see the “Non-GAAP Financial Measures” section below for additional information. 2 A reconciliation of the non-GAAP financial measures to the most directly comparable GAAP financial measures has been provided in the table titled "Non-GAAP to GAAP Reconciliation" attached to this press release. 3 Consistent with Securities and Exchange Commission (“SEC”) regulations, the Company has not provided a reconciliation of forward-looking non-GAAP financial measures to the most directly comparable GAAP financial measures in reliance on the “unreasonable efforts” exception set forth in the applicable regulations, because there is substantial uncertainty associated with predicting any future adjustments that may be made to the Company’s GAAP financial measures in calculating the non-GAAP financial measures. Non-GAAP Financial Measures Adjusted operating expenses, a non-GAAP financial measure, is presented in this press release to provide information that may assist investors in understanding the Company's financial and operating results. The Company believes this non-GAAP financial measure is an important performance indicator because it excludes items that are unrelated to, and may not be indicative of, the Company's core financial and operating results. This non-GAAP financial measure, as calculated, may not necessarily be comparable to similarly titled measures of other companies and may not be an appropriate measure for comparing the performance of other companies relative to the Company. This non-GAAP financial measure is not intended to represent, and should not be considered to be a more meaningful measure than, or an alternative to, measures of operating performance as determined in accordance with GAAP. To the extent the Company utilizes such non-GAAP financial measure in the future, it expects to calculate it using a consistent method from period to period. Conference Call Sight Sciences' management team will host a conference call today, May 6, 2026, beginning at 1:30 p.m. Pacific Time / 4:30 p.m. Eastern Time. Investors interested in listening to the conference call may do so by accessing a live and archived webcast of the event at www.sightsciences.com, on the Investors page in the News & Events section. 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 and OMNI® Edge Surgical System are implant-free, minimally invasive glaucoma surgery technologies indicated in the United States to reduce intraocular pressure in adult patients with primary open-angle glaucoma. The OMNI Surgical System is 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 System 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 disease (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, TearCare, and SmartLids are trademarks of Sight Sciences registered in the United States. OMNI, SION, and the Sight Sciences logo are trademarks of Sight Sciences registered in the United States, European Union and other territories. Hydrus® is a registered trademark of Alcon Vision LLC. © 2026 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 these 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 the award of ongoing royalties in our ongoing litigation with Alcon; potential appeals or other post-judgment proceedings; our focus in 2026 on continued growth in combination-cataract procedures and activating standalone interventions in glaucoma, and accelerating growth and expanding access to reimbursed interventional TearCare treatments; 2026 revenue guidance and 2026 adjusted operating expenses guidance, including primary factors impacting this guidance. 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, including without limitation changes to reimbursement coverage or payment decisions or reimbursement rates for our products; pricing pressure or changes in market share resulting from the evolving competitive landscape; the impact of tariffs on our products and the medical device industry generally; and disruptions to or increased costs associated with our supply chain, including as a result of having a limited number of suppliers. Should our underlying assumptions prove incorrect, actual results may 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 SEC, 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 [email protected] Media contact: [email protected] 4 Please see section titled "Non-GAAP Financial Measures" for additional information. 5 “Interventional Glaucoma active customers” means the number of customers who ordered the OMNI Surgical System or the SION Surgical Instrument during the three months ended March 31, 2026 and 2025. 6 “Interventional Dry Eye lid treatment units sold” means the quantity of TearCare SmartLids® sold during the three months ended March 31, 2026 and 2025. 7 “Interventional Dry Eye active customers” means the number of customers who ordered lid treatment units during the three months ended March 31, 2026 and 2025.

Achieved a return to double-digit total revenue growth driven by the third consecutive quarter of Interventional Glaucoma expansion and a near-doubling of Interventional Dry Eye revenue. Introduced the 'Intersection of Intervention' strategy, leveraging the high patient overlap between glaucoma and dry eye to drive TearCare adoption among existing OMNI customers. Interventional Dry Eye performance was bolstered by early validation of the reimbursed business model in First Coast and Novitas regions, where fee schedules were recently established. Glaucoma growth of 7% was primarily driven by increased volume and pricing, supported by the reactivation of dormant accounts and the addition of new accounts via OMNI Edge. Maintained high gross margins of 86% while significantly reducing cash usage through disciplined operating expense management and a lower cost structure following a 2025 reduction in force. Management highlighted that approximately half of all active dry eye accounts originated from the existing glaucoma customer base, showing higher utilization than dry-eye-only accounts. Raised full-year 2026 revenue guidance to $83 million - $89 million, reflecting confidence in the scaling of the reimbursed dry eye business and steady glaucoma execution. Expects additional Medicare Administrative Contractors (MACs) and commercial payers to establish fee schedules for TearCare within the year based on ongoing clinical and economic data reviews. Anticipates FDA clearance for OMNI Ultra in the coming months and hopes to launch the product by year-end, though the company noted that 510(k) clearance pathways are not definitive. to further differentiate the company's implant-free surgical glaucoma portfolio. Guidance for Interventional Dry Eye ($6 million - $8 million) assumes only the current First Coast and Novitas fee schedules, representing a conservative approach to market access timing. Management remains focused on achieving cash flow breakeven without the need for additional equity capital, supported by a strong cash position of $85 million. A final judgment in the Alcon patent litigation confirmed approximately $55 million in past damages and interest, plus a 10% ongoing royalty on Hydrus revenue, though this remains subject to appeal. Operating expenses for the quarter were $29.4 million, which included the impact of a $5.4 million one-time fee earned following a successful final judgment in the Alcon litigation case.; excluding this, expenses were down 17% year-over-year. Interventional Dry Eye gross margins improved to 72% and are expected to scale further as the reimbursed model offsets absorption and overhead costs. The company established a dedicated market development team specifically to unlock the stand-alone glaucoma intervention opportunity, modeled after cataract patient workflows. Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Management stated they are not yet close to a steady state, as accounts are still in the early stages of activating the technology across their Medicare fee-for-service populations. Approximately 10% of accounts are currently driving the majority of volume, serving as a model for workflow integration that the company aims to replicate across the base. Current 2026 guidance only includes revenue from regions with established fee schedules (First Coast and Novitas). Management expressed confidence in securing additional payer wins this year but noted that exact timing is difficult to predict as they build a new procedural category. The company is seeing a tailwind from the ophthalmic community's shift toward earlier intervention, positioning OMNI as the leading implant-free microinvasive option. Strong performance in March followed a slower start in January and February, with momentum expected to carry through the remainder of the year. The dry eye team remains small (roughly 10 members at year-end) but is being incrementally expanded in regions with active reimbursement. Investments are being balanced between market access resources and clinical support to help practices establish efficient procedural workflows. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here.