Business
Sight Sciences Reports Fourth Quarter and Full Year 2022 Financial Results
MENLO PARK, Calif., March 13, 2023 (GLOBE NEWSWIRE) -- Sight Sciences, Inc. (Nasdaq: SGHT) (“Sight Sciences,” or the “Company”), an eyecare technology company
About this update from Sight Sciences, Inc.
[{"type":"text","content":"MENLO PARK, Calif., March 13, 2023 (GLOBE NEWSWIRE) -- Sight Sciences, Inc. (Nasdaq: SGHT) (“Sight Sciences,” or the “Company”), an eyecare technology company focused on creating innovative solutions intended to transform care and improve patients’ lives, today reported financial results for the fourth quarter and year ended December 31, 2022 and issued financial guidance for the year ending December 31, 2023. Recent Financial Highlights Generated 2022 total revenue of $71.3 million, an increase of 46% compared to 2021Generated fourth quarter 2022 total revenue of $20.5 million, an increase of 40% compared to the prior year periodReduced fourth quarter 2022 operating expenses by $3.7 million versus the third quarter of 2022Improved total gross margin to 83% in 2022 versus 82% in 2021 Recent Business Highlights 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, and the installed base of TearCare® System (“TearCare”) facilities grew to 1,042 on December 31, 2022 from 881 on September 30, 2022Continued successful introduction of the SION™ Surgical Instrument (“SION”) in over 200 accounts through December 31, 2022Announced publications and presentations highlighting the clinical value and expanded use case of OMNI and TearCare: TREY study data published in International Ophthalmology demonstrating strong intraocular pressure (“IOP”) reductions following standalone OMNI procedures in open-angle glaucoma patients with a history of implanted trabecular microbypass stents and glaucoma medication treatment whose IOP was not controlledIndependent data presented at the 2022 American Academy of Optometry Meeting showcased the duration of efficacy of a single, first-time dry eye intervention using TearCare. Patients in the study at the Cleveland Clinic exhibited improved dry eye signs and symptoms for more than 12 monthsAnnounced partnership with Verana Health, the exclusive data technology partner for the American Academy of Ophthalmology’s IRIS® Registry of real-world data, to study post-surgical outcomes for leading MIGS technologies, including OMNI, iStent Inject® (Glaukos) and Hydrus® Microstent (Alcon), used in combination with cataract surgery in 77,391 patients. Comprehensive plan to present and publish results, including comparati...