Slide 1: Investor Presentation
Investor Presentation March 2026
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation, 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 o
Slide 3: Our Mission
[[ Our Mission Develop transformative, interventional technologies that allow eyecare providers to procedurally elevate the standards of care — empowering people to keep seeing. | 3
Slide 4: A Glimpse Ahead
A Glimpse Ahead 1 2 3 Innovation leader in TearCare market access Strong balance sheet in place two large, growing, has started with first to drive commercial growth underserved markets two MACs establishing and long-term investments fee schedules in Oct 2025 4 5 Strong gross margins and The interse
Slide 5: The Intersection of Intervention
INTERVENTIONAL The Intersection INTERVENTIONAL GLAUCOMA DRY EYE of Intervention | 5
Slide 6: Interventional Glaucoma
Interventional Glaucoma a een ()
Slide 7: Glaucoma
Glaucoma - Leading cause of irreversible blindness1 - Predominantly managed with daily eye drops (compliance often poor)2 Normal Mild Moderate Severe Large + Underserved Market $6 BILLION addressable U.S. market3 >4 MILLION U.S. patients diagnosed with Glaucoma1 ¹ Source: Market Scope 2025 report an
Slide 8: Primary Open-Angle Glaucoma (POAG)
Primary Open-Angle Glaucoma (POAG) 01 Drain Cover (trabecular meshwork): allows excess THE CONVENTIONAL OUTFLOW PATHWAY IS AN IMPORTANT FOCAL POINT IN aqueous fluid to enter drainage system TREATING POAG, THE MOST COMMON FORM OF GLAUCOMA. 02 Sink Pipe (Schlemm’s Canal): conducts excess aqueous POAG
Slide 9: OMNI Offers Leading Clinical Outcomes for Primary Open-Angle Glaucoma (POAG)
OUR TECHNOLOGY: OMNI® SURGICAL SYSTEM OMNI Offers Leading Clinical Outcomes for Primary Open-Angle Glaucoma (POAG) >370K Comprehensive treatment of diseased Leading clinical trial and registry results: Procedures conventional outflow pathway ROMEO, GEMINI, AAO IRIS® Registry Performed1 ¹ Estimate ba
Slide 10: OMNI Comprehensively Treats the Conventional Outflow Pathway
OMNI Comprehensively Treats the Conventional Outflow Pathway Minimally Invasive + Efficacious A comprehensive procedure enabled by the OMNI® Surgical System to help restore natural outflow in the eye with up to 360° treatment of all three areas of resistance* in the conventional outflow pathway * Tr
Slide 11: OMNI is Proven with Robust Clinical Evidence & Broad FDA Indication
OMNI is Proven with Robust Clinical Evidence & Broad FDA Indication OMNI is the most comprehensive implant-free Minimally Invasive Glaucoma Surgery (MIGS) technology, designed to effectively treat the full spectrum of primary open-angle glaucoma (POAG)1 OMNI with patented TruSync Technology is the o
Slide 12: Consistent Efficacy of OMNI in Combination Cataract and Standalone Clinical Trials
Consistent Efficacy of OMNI in Combination Cataract (CC) and Standalone (SA) Clinical Trials COMBINATION CATARACT STANDALONE GEMINI ROMEO Elevated IOP CC ROMEO Elevated IOP SA TREY SA (12 Months)* (24 Months) (24 Months) (11 Months)* 25 25 25 25 IOP (mmHg) IOP (mmHg) 20 23.8 20 21.7 20 22.1 20 21.7
Slide 13: OMNI Addresses All Six MIGS POAG Categories and Allows Surgeons to Customize Treatment
OMNI Addresses All Six MIGS POAG Categories and Allows Surgeons to Customize Treatment STANDALONE MIGS $5B Opportunity ~85% of POAG Eyes 1 1 COMBINATION CATARACT MIGS $1B Opportunity 1 ~15%1 of POAG Eyes MARKET OPPORTUNITY1 MILD DISEASE MODERATE DISEASE ADVANCED DISEASE (40%) (40%) (20%) ~$2B ~$2B ~
Slide 14: Large and Unmet Clinical Need for Standalone MIGS
Large and Unmet Clinical Need for Standalone MIGS Combination Cataract Standalone ~15% of POAG eyes1, ~90% of MIGS procedures1 ~85% of POAG eyes¹, ~10% of MIGS procedures1 Established, growing market Large, underserved patient population Benefits from inherent IOP-lowering effect of cataract MIGS pr
Slide 15: MIGS for the Standalone Pseudophakic Patient
MIGS for the Standalone Pseudophakic Patient The Glaucoma Patient Journey1 Cataract Zone of unmet Advanced Glaucoma +/- MIGS clinical need Filtration Diagnosis Now a candidate for cataract Continues to progress until it Patient diagnosed with surgery, which may or may not Pseudophakic POAG Patients
Slide 16: Interventional Dry Eye
Interventional Dry Eye ~A ()
Slide 17: Large + Underserved Markets
Dry Eye Disease - Linked to screen time, age (postmenopausal - Predominantly managed with daily women, men 50+), systemic medication use eye drops (compliance often poor)1 Normal Mild Moderate Severe Large + Underserved Markets $2.4 billion US market for dry eye treatments 2 ~19 million U.S. patient
Slide 18: A new order of care
A new order of care Effective intervention shouldn’t wait, because meibomian gland dropout is irreversible and critical to ocular surface Providers can intervene sooner with health1-3 the power to preserve TearCare targets the root cause of MGD: obstructed glands with demonstrated improvement of mei
Slide 19: MGD Opportunity
MGD Opportunity U.S. patients diagnosed with Up to 86% of DED is associated with ~50% of DED patients have moderate to Dry Eye Disease (DED) 1 poor tear quality due to Meibomian severe symptoms 1 (most likely to seek Gland Dysfunction (MGD )1, 2 treatment + targeted patient population in SAHARA RCT)
Slide 20: MGD is an Underserved Disease State
MGD is an Underserved Disease State The current market is dominated by eyedrops that do not address the underlying causes of MGD 1 Many dry eye treatments focus on increasing tear volume in aqueous deficient patients No interventional standard of care for treatment of MGD There is poor patient compl
Slide 21: TearCare Offers a Comprehensive Therapy Intervention Driving Leading Clinical Outcomes
OUR TECHNOLOGY: TEARCARE TearCare Offers a Comprehensive Therapy Intervention Driving Leading Clinical Outcomes for Evaporative Dry Eye Disease Due to MGD Comprehensive therapy to treat diseased meibomian glands Leading Clinical Trial Results: SAHARA, OLYMPIA >70K Procedures Performed1 ¹ Estimate ba
Slide 22: TearCare: Designed to Preserve and Improve Gland Functionality
TearCare: Designed to Preserve and Improve Gland Functionality TearCare is the only FDA-cleared interventional, open-eye, thermal-activated gland expression therapy designed to treat MGD conveniently and comfortably 01 Application 02 Therapy 03 Expression Thin, wearable SmartLids® Precise, consisten
Slide 23: SAHARA RCT
SAHARA RCT Randomized Controlled Trial Signs Superiority + Durability 2 comparing TearCare and + Restasis®1 Head-to-Head Study TearCare vs Restasis1 + Large Trial (N=345) + Randomized + Assessor Masked + 3 Stages + Long-term (2-year trial) ¹ Restasis is a trademark of Allergan an AbbVie company ² En
Slide 24: SAHARA RCT: Results
SAHARA RCT: Results TearCare Superior to Restasis in Tear Breakup Time Improvement4 Absolute Change from Baseline at Each Time Point PHASE 1: TearCare Results at 6 Months TearCare Restasis Restasis Crossover to TearCare • Superior to Restasis1, 2 in tear break-up time (TBUT) 2.5 • Non-inferior to Re
Slide 25: SAHARA RCT: Results
SAHARA RCT: Results 2 TearCare therapies in the first 5 months provided 2 years of relief for the majority of study patients1 PHASE 3: 24 Month Data • All mean signs and symptoms remained statistically significantly better than study baseline at all time points measured through the end of study at 2
Slide 26: Interventional Dry Eye Strategy: Targeted + Scalable Growth
Interventional Dry Eye Strategy: Targeted + Scalable Growth Scaling Commercially While Actively Pursuing Expanded Market Access With the power of TearCare, we can: • Improve the lives of U.S. MGD patients • Scale commercial resources with market access wins • Target ~6,500 physicians identified as m
Slide 27: Annual Revenue and Gross Margin %
Annual Revenue and Gross Margin % SGHT DRY EYE SURGICAL GLAUCOMA GROSS MARGIN % Revenue CAGR FY20 to FY25 85% 85% 86% 83% 82% $82 - $88 67% $81.1 $79.9 $77.4 $5 - $7 FY26 Guidance $71.3 $6.7 $4.0 $1.6 $5.7 Revenue $82M - $88M¹ $74.3 $75.9 $75.7 $77 – $81 Adj. OpEx² 93M - $96M¹ $49.0 $2.5 $65.6 $27.6
Slide 28: Keep Seeing
Keep Seeing TM |