Slide 1: Investor Presentation May 2026
Investor Presentation May 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 Innovation leader in two large, growing, underserved markets 1 TearCare market access has started with first two MACs establishing fee schedules in Oct 2025 2 Strong balance sheet in place to drive commercial growth and long-term investments 3 Strong gross margins and disciplined ope
Slide 5: The Intersection of Intervention
INTERVENTIONAL GLAUCOMA INTERVENTIONAL DRY EYE The Intersection of Intervention
Slide 6: A strategic roadmap to transform eyecare for glaucoma and dry eye patients
A strategic roadmap to transform eyecare for glaucoma and dry eye patients by reducing patient burden, slowing disease progression, and improving outcomes. Embrace procedural intervention as a better alternative to medication management Activate the workflow to procedurally intervene and address und
Slide 7: Interventional Glaucoma
Interventional Glaucoma ())
Slide 8: Glaucoma
Glaucoma - Leading cause of irreversible blindness1 - Predominantly managed with daily eye drops (compliance often poor)2 Normal Mild Moderate Severe Large + Underserved Market ¹ Source: Market Scope 2025 report and JAMA Ophthalmology Prevalence of Glaucoma Among US Adults in 2022 Oct 17, 2024 . ² N
Slide 9: POAG is similar to a clog in a kitchen sink
POAG is similar to a clog in a kitchen sink: 01 TRABECULAR MESHWORK 02 SCHLEMM‘S CANAL 03 COLLECTOR CHANNELS 01 02 03 THE CONVENTIONAL OUTFLOW PATHWAY IS AN IMPORTANT FOCAL POINT IN TREATING POAG, THE MOST COMMON FORM OF GLAUCOMA. The eye’s natural drainage system is called the conventional outflow
Slide 10: Our Technology: OMNI Surgical System
OUR TECHNOLOGY: OMNI® SURGICAL SYSTEM OMNI Offers Leading Clinical Outcomes for Primary Open-Angle Glaucoma (POAG) ¹ Estimate based on units of OMNI (and predicates) and SION products shipped as of March 31, 2026 Comprehensive treatment of diseased conventional outflow pathway Leading clinical trial
Slide 11: 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 12: OMNI is Proven with Robust Clinical Evidence & Broad FDA Indication
OMNI is Proven with Robust Clinical Evidence & Broad FDA Indication AGIS-7 Findings3 <18 mmHg is the target IOP to limit the progression of glaucoma. On average, there was zero change in visual field defect score for patients whose IOP stayed below 18 mmHg over 6 years. OMNI is the most comprehensiv
Slide 13: Consistent Efficacy of OMNI in Combination Cataract and Standalone Trials
Consistent Efficacy of OMNI in Combination Cataract (CC) and Standalone (SA) Clinical Trials COMBINATION CATARACT STANDALONE EFFICACY DEMONSTRATED OUT TO 3 YEARS GEMINI (12 Months)* ROMEO Elevated IOP CC (24 Months) ROMEO Elevated IOP SA (24 Months) TREY SA (11 Months)* GEMINI 2 IOP Outcomes CC (36
Slide 14: OMNI Addresses All Six MIGS POAG Categories
OMNI Addresses All Six MIGS POAG Categories and Allows Surgeons to Customize Treatment ¹ Represents Company analysis of third-party estimates based on 2025 data MILD DISEASE (40%) MODERATE DISEASE (40%) ADVANCED DISEASE (20%) ~$2B opportunity ~$2B opportunity ~$1B opportunity ~$0.4B opportunity ~$0.
Slide 15: Large and Unmet Clinical Need for Standalone MIGS
Large and Unmet Clinical Need for Standalone MIGS Combination Cataract Standalone | 15 ~15% of POAG eyes1, ~90% of MIGS procedures1 Established, growing market Benefits from inherent IOP-lowering effect of cataract surgery Share-taking driven by efficacy, fast recovery times and attractive safety pr
Slide 16: MIGS for the Standalone Pseudophakic Patient
MIGS for the Standalone Pseudophakic Patient The Glaucoma Patient Journey1 1 ESCRS. “Glaucoma Treatment Paradigm Shift.” By Dr. Karl Mercieca. EuroTimes. 2 Selective Laser Trabeculoplasty . Zone of unmet clinical need Pseudophakic POAG Patients 3-7 yrs post-op Glaucoma Diagnosis Patient diagnosed wi
Slide 17: Interventional Dry Eye
Interventional Dry Eye A ())
Slide 18: Dry Eye Disease
Dry Eye Disease - Linked to screen time, age (postmenopausal women, men 50+), systemic medication use - Predominantly managed with daily eye drops (compliance often poor)1 Normal Mild Moderate Severe Large + Underserved Markets $2.3 billion US market for dry eye treatments 2 ~19 million U.S. patient
Slide 19: A new order of care: The case for the TearCare System
A new order of care Effective intervention shouldn’t wait, because meibomian gland dropout is irreversible and critical to ocular surface health1-3 TearCare targets the root cause of MGD: obstructed glands with demonstrated improvement of meibomian gland function4 SAHARA Results: TearCare was clinic
Slide 20: MGD Opportunity
MGD Opportunity U.S. patients diagnosed with Dry Eye Disease (DED) 1 Million DED patients ~19 Up to 86% of DED is associated with poor tear quality due to Meibomian Gland Dysfunction (MGD )1, 2 Million MGD patients ~13 – 16 ~50% of DED patients have moderate to severe symptoms 1 (most likely to seek
Slide 21: 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 22: Our Technology: TearCare
TearCare Offers a Comprehensive Therapy Intervention Driving Leading Clinical Outcomes for Evaporative Dry Eye Disease Due to MGD OUR TECHNOLOGY: TEARCARE ¹ Estimate based on Dry Eye Treatment Lids shipped as of March 31, 2026. Comprehensive therapy to treat diseased meibomian glands Leading Clinica
Slide 23: 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 ¹ Gupta et al. Cornea 2022;41:417–426 Thin, wearable SmartLids® conform to the eyeli
Slide 24: SAHARA RCT
SAHARA RCT Randomized Controlled Trial comparing TearCare and Restasis®1 Signs Superiority + Durability 2 + 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 E
Slide 25: SAHARA RCT: Results
SAHARA RCT: Results ¹ Endpoints for SAHARA include superiority over Restasis at six months in our primary objective endpoint, tear break-up time. TearCare treatment at Baseline and Month 5, Restasis twice a day for six months. Study through 24 months to show duration of effectiveness. ² Restasis is
Slide 26: SAHARA RCT: Results
SAHARA RCT: Results ¹ 66% of TearCare® patients experienced dry eye relief for 2 years from study baseline. Study baseline refers to assessment at the start of SAHARA prior to any treatment and 5 months prior to the start of the Stage 3 durability stage. Months are measured from Study Baseline. Erro
Slide 27: Interventional Dry Eye Strategy: Targeted + Scalable Growth
Interventional Dry Eye Strategy: Targeted + Scalable Growth ¹ Estimated as of June 30, 2025 based on review of claims data and Company analytics 2 As of March 31, 2026 Scaling Commercially While Actively Pursuing Expanded Market Access With the power of TearCare, we can: Improve the lives of U.S. MG
Slide 28: Annual Revenue and Gross Margin %
$83 - $89 $6 - $8 Annual Revenue and Gross Margin % SGHT DRY EYE GLAUCOMA GROSS MARGIN % $27.6 $1.6 $26.0 $49.0 $2.5 $46.5 $71.3 $5.7 $65.6 $81.1 $6.7 $74.3 $79.9 $4.0 $75.9 +23% FY25 Gross Margin % Revenue CAGR FY20 to FY25 FY26 Guidance Revenue $83M - $89M¹ Adj. OpEx² 93M - $96M¹ 86.2% 86.8% 59.3%
Slide 29: Keep Seeing
Keep Seeing TM