Sight Sciences

SGHT

Medical - Devices · Healthcare

Price

$5.03

-0.17 (-3.27%)

Market Cap

$273.7M

Exchange

NASDAQ

Winston Score

Winston is worried

Below-average fundamentals — multiple weak pillars.

Share count rising — dilution

+9.8% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 47.5M (2021) → 52.1M (2025)

Sight Sciences, Inc., an ophthalmic medical device company, engages in the development and commercialization of surgical and nonsurgical technologies for the treatment of eye diseases. The company's products include OMNI Surgical System, a therapeutic device used by ophthalmic surgeons to reduce intraocular pressure in adult glaucoma patients; and TearCare System, a wearable eyelid technology for the treatment of dry eye disease (DED) for ophthalmologists and optometrists. It offers its products

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+12.5% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+14.3% YoY

YoY Growth Rate

Steady EPS growth

R&D Spend

$15M/ year

↓ Declining (-19% vs prior year)

18.9% of revenue

In line with sector average (18%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

35.5%ownership

→ Flat

Insiders holding steady — not selling despite ability to

Cash Runway

~3 years

$85M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

$85M cash & investments at current burn rate

Growth context

Sight Sciences is growing revenue at 13% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

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Quality

Gross Margin

86.2%

Premium pricing power — 86.2% gross margin

Operating Margin

-63.0%

Losing money on operations — -63.0%

ROCE

-13.1%

Weak — -13.1% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales YoY

+1.8%

Nearly flat sales (1.8% YoY)

EPS YoY

N/A

—

Data not available

EPS Consistency

0/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

N/A

—

Data not available

FCF Margin

-32.3%

Burning cash (-32.3%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

Debt / Equity

0.76

Moderate — manageable debt (0.76)

Interest Cover

N/A

Data not available

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Valuation

P/E Ratio (TTM)

N/M

—

Negative earnings — P/E not meaningful

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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