NASDAQ$SGHT
Sight Sciences Inc · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Reported financial results for the fourth quarter and full year ended December 31, 2023, and initiated financial guidance for full year 2024.
Sight Sciences reported a decrease in fourth-quarter revenue by 9% compared to the same period in the prior year, while full-year revenue increased by 14%. The company reduced operating expenses and cash used in the quarter, and secured a new credit facility. They maintained Medicare patient access to their surgical systems and saw positive clinical trial results for their technologies.
- Generated fourth quarter 2023 total revenue of $18.8 million, a decrease of 9% compared to the same period in the prior year.
- Reduced fourth quarter 2023 operating expenses to $27.1 million, a reduction of $6.8 million, or 20%, compared to the same period in the prior year.
- Reduced cash used to $6.4 million in the fourth quarter of 2023, a decrease of 57% compared to the same period in the prior year.
- Maintained Medicare patient access to the OMNI® Surgical System and the SION® Surgical Instrument after withdrawal of final local coverage determinations.
Headline financials
Revenue & EPS history
Sight Sciences · Revenue · Quarterly
$18.8M
Revenue by segment
Sight Sciences · $20M total across 2 segments · Q3 2023
- Interventional Glaucoma$18.4M+7.6%92.0%
- Interventional Dry Eye$1.6M+0.0%8.0%
Forward guidance
Sight Sciences projects full year 2024 revenue to range from approximately $81.0 million to $85.0 million, representing a range of 0% to 5% growth compared to 2023. The Company expects full year 2024 adjusted operating expenses of approximately $107.0 million to $110.0 million, representing a range of 0% to 3% decline compared to 2023.
Tailwinds
- Expects double-digit revenue growth in the second half of 2024.
- Regaining commercial momentum.
- Expanding utilization.
- Expanding customer base.
- Adjusted operating expenses expected to decline by 0% to 3% compared to 2023.
Headwinds
- Revenue growth for full year 2024 is projected to be between 0% and 5%.
- Guidance is subject to significant risks and uncertainties.
- Assumes no meaningful changes to the Company's business prospects.
- Higher first quarter adjusted operating expenses expected primarily due to higher legal expenses for pending litigation.
- Changes in the reimbursement environment, including coverage decisions and reimbursement rates.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 18 quarterly earnings reports · overlaid with Q4 2023
+3.0%
Avg return
Earnings day
+4.0%
Avg return
5 days after
+5.0%
Avg return
30 days after
53%
10 / 19 earnings
Positive
+60.9%
Q3 2022
Best reaction
-26.9%
Q4 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.7% | +22.6% | +2.5% | |
| Q4 2025 | -26.9% | -25.9% | -34.9% | |
| Q3 2025 | +16.0% | +54.4% | +61.0% | |
| Q1 2025 | +1.3% | +8.3% | +38.6% | |
| Q4 2024 | +2.9% | +15.3% | -5.0% | |
| Q3 2024 | -17.1% | -17.1% | -24.1% | |
| Q2 2024 | -18.9% | -29.4% | -13.0% | |
| Q1 2024 | +6.6% | +1.1% | +17.4% | |
| Q4 2023 | +6.8% | -4.4% | +21.4% | |
| Q3 2023 | +19.8% | +2.0% | +54.1% | |
| Q2 2023 | +11.0% | +4.1% | -16.0% | |
| Q1 2023 | -0.4% | +0.6% | -25.1% | |
| Q4 2022 | +4.9% | -2.3% | -5.8% | |
| Q3 2022 | +60.9% | +50.4% | +72.9% | |
| Q2 2022 | -3.9% | -16.1% | -26.2% | |
| Q1 2022 | +11.2% | +23.9% | +59.2% | |
| Q4 2021 | -10.1% | -6.1% | -45.5% | |
| Q3 2021 | -2.4% | -5.8% | -20.6% | |
| Q2 2021 | -4.7% | +0.1% | -15.9% | |
| Q4 2020 | — | — | — | |
| Q3 2020 | — | — | — | |
| Q2 2020 | — | — | — | |
| Q1 2020 | — | — | — |
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