Sight Sciences Inc.’s stock tumbled 32% premarket Tuesday, after the eyecare technology company issued a revenue warning, saying it’s seen fewer Surgical...
Sight Sciences Inc.’s stock SGHT, +6.03% tumbled 32% premarket Tuesday, after the eyecare technology company issued a revenue warning, saying it’s seen fewer Surgical Glaucoma new accounts in the third quarter amid reimbursement uncertainty. The Menlo Park, Calif.-based company said it now expects third-quarter revenue of $19.0 million to $20.0 million, below the $22.9 million FactSet consensus.
In dry eye, the company is expecting revenue to be slightly lower sequentially due to seasonality, plus a strategy that expects higher utilization by existing customer accounts as part of its reimbursement strategy. “We typically see a strong second quarter followed by a slower start to the third quarter given traditional seasonality patterns,” said Founder and CEO Paul Badawi in a statement.
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