Sight Sciences Inc · Q4 2022 earnings

Briefing

Sight Sciences reported a 40% increase in revenue compared to the prior year period, driven by increased adoption and utilization of its products. The company also reduced operating expenses and improved financial discipline.

Sight Sciences reported strong revenue growth in Q4 2022, driven by increased adoption and utilization of its products. The company also focused on improving operating efficiency and maintaining financial discipline, resulting in reduced operating expenses. The company projects revenue for the full year 2023 to range from $89 million to $94 million, which represents growth of approximately 25% to 32% compared to 2022.

• Generated fourth quarter 2022 total revenue of $20.5 million, an increase of 40% compared to the prior year period
• Reduced fourth quarter 2022 operating expenses by $3.7 million versus the third quarter of 2022
• The number of facilities ordering the OMNI® Surgical System (“OMNI”) increased to 941 in the fourth quarter of 2022 from 913 in the third quarter of 2022
• The installed base of TearCare® System (“TearCare”) facilities grew to 1,042 on December 31, 2022 from 881 on September 30, 2022

Headline financials

Revenue & EPS history

Sight Sciences projects revenue for the full year 2023 to range from $89 million to $94 million, which represents growth of approximately 25% to 32% compared to 2022.