Sight Sciences, Inc. (SGHT) · Nov 4, 2026 · Earnings
Beat — Q3 revenue $24.9M vs ~$23.51M consensus
Sight Sciences earnings beat revenue expectations, with rapid TearCare growth helping lift 2026 guidance while cash usage improves.
Sight Sciences is rebuilding growth around two interventional eye-care franchises: OMNI for glaucoma and TearCare for reimbursed dry-eye treatment. The prior setup already pointed to a recovery—management had raised 2026 revenue guidance to $88M-$92M in August while cutting adjusted operating-expense guidance to $92M-$94M.
The quarter clearly beat the published revenue bar. Q3 revenue reached $24.9M, up 25% year over year, versus published consensus of approximately $23.51M, or roughly 6% above expectations. The company also described this as its third straight quarter of double-digit growth.
| Metric | Q3 2026 / FY26 | Comparison | Consensus / Prior guide |
|---|---|---|---|
| Revenue (Financial Highlights) | $24.9M (+25%) | $19.9M implied | ~$23.51M |
| FY revenue guidance (FY Guidance) | $92M-$93M | — | $88M-$92M |
| FY adjusted OpEx guidance (FY Guidance) | $92M-$94M | — | $92M-$94M |
| YTD glaucoma revenue (Financial Highlights) | $60.1M (+7%) | — | — |
| YTD dry-eye revenue (Financial Highlights) | $7.9M | $0.9M prior year | — |
The guidance increase is the more important signal than the quarterly beat. Full-year revenue guidance moved to $92M-$93M from $88M-$92M, implying the company now expects to finish above the previous midpoint despite keeping its expense outlook unchanged.
TearCare is becoming a real growth engine rather than a small add-on. Interventional dry-eye revenue reached $7.9M year to date versus $0.9M a year earlier, while glaucoma revenue grew a more modest 7%. That mix matters because the company is no longer relying solely on the mature OMNI franchise to restart growth; it is beginning to show commercial traction from the reimbursed dry-eye market after the October 2025 Medicare fee-schedule changes.
The growth came with better cash discipline, improving the quality of the result. Management said cash usage improved 74% year over year and adjusted operating expenses were 99% of year-to-date revenue versus 121% in the prior year. That does not establish profitability, but it shows the company is scaling commercial investment without repeating the earlier cash-burn profile. 〔0〕
Bottom line: This was more than an expected recovery quarter: revenue beat the market's bar, dry eye is scaling rapidly, and the full-year revenue guide moved higher without higher expense guidance. The business story is strengthening, though the event advances the existing turnaround rather than completely rewriting it.
Q4 2026 results and 2027 outlook
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