SGHT - Sight Sciences stock gains 35% after lower end of revenue guidance range raised
- Sight Sciences ( NASDAQ: SGHT ) stock gained 35% to its highest level in over four months after the medical device firm reported strong Q3 earnings and raised the lower end of its FY revenue guidance range.
- Sight Sciences ( SGHT ) now expects 2022 revenue of $70M-$72M vs. prior outlook of $68M-$72M.
- Q3 EPS was -$0.46 vs. -$0.43 in Q3 2021 as operating expenses rose ~50% to $37.6M, driven by additions to personnel and continued investment in R&D and SG&A.
- Revenue increased 42.7% Y/Y to $18.7M.
- Surgical glaucoma revenue grew 37% to $17.1M, driven by an increase in the number of facilities ordering the OMNI Surgical System and utilization per ordering facility.
- Dry eye revenue more than doubled to $1.6M, helped by higher sales of the Tear Care System to new and reordering customers.
- Shares of Sight Sciences ( SGHT ) have fallen 39.4% YTD.
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Sight Sciences stock gains 35% after lower end of revenue guidance range raised