Sight Sciences Raises 2026 Revenue Outlook To $92 Million-$93 Million As Dry Eye Sales Jump
The eye-care device maker's third-quarter revenue rose 25% to a record, and cash burn fell 74% to $2.4 million.
Sight Sciences, which makes devices for surgeons and eye doctors to treat glaucoma and dry eye with procedures, raised its 2026 revenue guidance to $92 million to $93 million, up from $88 million to $92 million. The company announced the raise Wednesday alongside record third-quarter revenue of $24.9 million, up 25% from $19.9 million a year earlier.
Dry eye turns into a real business
Interventional Dry Eye revenue, from its TearCare system, hit a record $3.9 million, against $0.2 million a year earlier and $2.7 million in the second quarter, a 45% sequential gain. TearCare lid treatment units sold reached 4,581, versus 271 a year ago, and active dry eye customers rose to 222 from 50.
Glaucoma revenue, from the OMNI Surgical System and SION instrument, rose 7% to $21.0 million, from $19.7 million. Dry eye gross margin was 79%, up from 38%; total gross margin was 86%, in line with last year.
For the full year, the company now expects dry eye revenue of about $12 million, versus a prior range of $9 million to $11 million and $1.6 million in 2025. It expects glaucoma revenue of $80 million to $81 million. The new total implies growth of 19% to 20%.
Cash burn falls 74%
Net loss narrowed to $6.8 million, or $0.12 per share, from $8.2 million, or $0.16, a year earlier. Cash used in the quarter was $2.4 million, down 74% from $9.1 million. Cash stood at $77.4 million on September 30, against $79.8 million on June 30, with total debt at $40.0 million.
Total operating expenses rose 10% to $27.5 million. Adjusted operating expenses, which strip out items such as stock pay and restructuring costs, rose 21% to $24.0 million. The company kept its full-year adjusted operating expense guidance at $92 million to $94 million, up 5% to 7% from 2025.
"We delivered another strong quarter with 25% total revenue growth, record IDE revenue, continued IG revenue growth, and a significant reduction in cash burn," said Paul Badawi, Co-Founder and CEO.
One sales force, two diseases
An investor presentation frames 2026 as a return to growth after revenue fell 1% in 2024 and 3% in 2025. Management argues the same practices treat many patients with both glaucoma and dry eye, so it can cross-sell to its existing glaucoma customers.
The company launched its OMNI Ultra Surgical System at the American Academy of Ophthalmology annual meeting. Its conference call was set for 4:30 p.m. Eastern on Wednesday.
Revenue for the first nine months was $68.0 million, up 19%, while adjusted operating expenses fell 2% to $67.5 million.
