8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): May 10, 2022

Sight Sciences, Inc.

(Exact name of Registrant as Specified in Its Charter)

Delaware	001-40587	80-0625749
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)
4040 Campbell Avenue Suite 100
Menlo Park, California		94025
(Address of Principal Executive Offices)		(Zip Code)

Registrant’s Telephone Number, Including Area Code: 877 266-1144

N/A

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, $0.001 par value per share	SGHT	NASDAQ Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition

On May 10, 2022, Sight Sciences, Inc. (the "Company") announced its financial results for the quarter ended March 31, 2022. A copy of the press release issued in connection with the announcement is furnished as Exhibit 99.1 to this Current Report on Form 8-K.*

Item 7.01 Regulation FD Disclosure

On May 10, 2022, the Company posted an investor presentation to its website at https://investors.sightsciences.com/. The Company expects to use the investor presentation, in whole or in part, and possibly with modifications, in connection with presentations to investors, analysts and others. A copy of the investor presentation is furnished as Exhibit 99.2 to this Current Report on Form 8-K.*

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

Exhibit No.	Description
99.1	Press Release dated May 10, 2022
99.2	Sight Sciences Presentation dated May 10, 2022
104	Cover Page Interactive Data File, formatted in Inline XBRL.

* The information in Item 2.02, Item 7.01, Exhibit 99.1 and Exhibit 99.2 of this Current Report on Form 8-K shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section, nor shall it be deemed to be incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

			Sight Sciences, Inc.
Date:	May 10, 2022	By:	/s/ Paul Badawi
			President and Chief Executive Officer

EX-99.1

 

Exhibit 99.1

Sight Sciences Reports First Quarter 2022 Financial Results

MENLO PARK, Calif., May 10, 2022 (GLOBE NEWSWIRE) -- Sight Sciences, Inc. (Nasdaq: SGHT), an eyecare technology company focused on creating innovative solutions intended to transform care and improve patients’ lives, today reported financial results for the quarter ended March 31, 2022.

Recent Business Highlights

•Generated first quarter 2022 total revenue of $14.9 million, an increase of 72% compared to the prior year period

•Increased the number of facilities ordering the OMNI® Surgical System from 760 in the fourth quarter of 2021 to 811 in the first quarter of 2022, and the installed base of TearCare® facilities from 562 on December 31, 2021 to 635 on March 31, 2022

•Demonstrated continued excellence in Surgical Glaucoma account retention in the first quarter of 2022 with a developed customer retention rate of 99.7%

•Expanded total gross margin to 80% in the first quarter 2022 versus 73% in the prior year period

•Treated the first patient in the TRIDENT head to head, Standalone RCT which will evaluate the OMNI Surgical System and a trabecular bypass implant in pseudophakic eyes with open-angle glaucoma at over 20 sites in Europe

“We are pleased with our first quarter results which again demonstrated the underlying strength and stability of our OMNI business. We continue to enjoy substantial increases in trained surgeons and ordering facilities and, importantly, OMNI customer retention continues to be extraordinarily high,” said Paul Badawi, co-founder and Chief Executive Officer of Sight Sciences. “Looking forward, we are confident in our ability to continue to develop and penetrate the standalone MIGS market and optimize fair access for TearCare, while we advance our clinical programs and R&D initiatives to help additional glaucoma and dry eye patients.”

First Quarter 2022 Financial Results

Revenue for the first quarter of 2022 was $14.9million, an increase of $6.2 million, or 72%, compared to the first quarter of 2021. Surgical Glaucoma revenue was $13.9 million, an increase of 70% compared to the prior year period. The growth was primarily driven by an increase in both the number of facilities ordering OMNI and utilization per ordering facility. Dry Eye revenue was $1.0 million, an increase of 104% from the previous year. The growth was primarily driven by increases in sales to both new and reordering TearCare customers.

Gross profit for the first quarter of 2022 was $11.8 million compared to $6.3 million for the first quarter of 2021. Gross margin for the first quarter of 2022 was 80%, as compared to 73% in the same period the prior year. The gross margin improvement was attributable mainly to OMNI manufacturing cost reductions resulting from transitioning production to high volume, lower cost contract manufacturers and increased revenues covering largely fixed allocated labor and manufacturing overhead.

Operating expenses were $34.0 million for the first quarter of 2022 compared to $18.0million in the same period the prior year, representing an 89% increase. Operating expenses as a percentage of revenues increased from 208% in the first quarter of 2021 to 229% in the first quarter of 2022. The increase in operating expenses was primarily driven by additions to personnel and continued investment in R&D and SG&A to support the Company’s growth, including stock-based compensation of $3.0 million compared to $0.3 million in the prior year period.

 

Net loss was $23.3million in the first quarter of 2022 ($0.49 per share), as compared to $12.2 million in the same prior year period ($1.29per share).

Cash and cash equivalents totaled $238.6 million and total debt was $32.8 million as of March 31, 2022.

2022 Financial Guidance

Sight Sciences continues to project revenue for the full year 2022 to range from $67 million to $75 million, which represents growth of approximately 37% to 53% compared to 2021.

Conference Call
Sight Sciences’ management team will host a conference call today, May 10, 2022, beginning at 4:30 pm ET. Investors interested in listening to the call may do so by dialing 1-844-287-7410 for domestic callers or 1-914-800-3942 for international callers, five to ten minutes prior to the start time, using the passcode: 5193467. A live and recorded webcast of the call will be available on the “Investors” section of the Company’s website at https://investors.sightsciences.com/.

About Sight Sciences
Sight Sciences is an eyecare technology company focused on developing and commercializing innovative solutions intended to transform care and improve patients’ lives. Using minimally invasive or non-invasive approaches to target the underlying causes of the world’s most prevalent eye diseases, Sight Sciences seeks to create more effective treatment paradigms that enhance patient care and supplant conventional outdated approaches. The Company’s OMNI® Surgical System is a minimally invasive glaucoma surgery (MIGS) device indicated to reduce intraocular pressure in adult patients with primary open-angle glaucoma (POAG), the world’s leading cause of irreversible blindness. The Company’s TearCare® System is 510(k) cleared for the application of localized heat therapy in adult patients with evaporative dry eye disease due to meibomian gland dysfunction (MGD), enabling office-based clearance of gland obstructions by physicians to address the leading cause of dry eye disease.

For more information, visit www.sightsciences.com.

OMNI® and TearCare® are registered trademarks of Sight Sciences.

© 2022 Sight Sciences. All rights reserved.

Forward-Looking Statements
This press release, together with other statements and information publicly disseminated by the Company, contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and includes this statement for purposes of complying with these safe harbor provisions. Any statements made in this press release or during the earnings call that are not statements of historical fact, including statements about our beliefs and expectations, are forward-looking statements and should be evaluated as such. Forward-looking statements include information concerning possible or assumed future results of operations, including descriptions of our business plan and strategies. These statements often include words such as “anticipate,” “expect,” “suggests,” “plan,” “believe,” “intend,” “estimates,” “targets,” “projects,” “should,” “could,” “would,” “may,” “will,” “forecast” and other similar expressions. We base these forward-looking statements on our current expectations, plans and assumptions that we have made in light of our experience in the industry, as well as our perceptions of historical trends, current conditions, expected future developments and other factors we believe are appropriate under the circumstances at such time. Although we believe that these forward-looking statements are based on reasonable assumptions at the time they are made, you should be aware that many factors could affect our business, results of operations and financial condition and could cause actual results to differ materially from those expressed in the forward-looking statements. These statements are not guarantees of future performance or results. The forward-looking statements are subject to and involve risks, uncertainties and assumptions, and you should not place undue reliance on these forward-looking

 

statements. These forward-looking statements include, but are not limited to, statements concerning the following: estimates of our total addressable market, future revenue, expenses, capital requirements, and our needs for additional financing; our ability to enter into and compete in new markets; execution of our market strategies; the impact of the COVID-19 pandemic on our business, our customers’ and suppliers’ businesses and the general economy; our ability to compete effectively with existing competitors and new market entrants; our ability to scale our infrastructure; our ability to manage and grow our business by expanding our sales to existing customers or introducing our products to new customers; our ability to establish and maintain intellectual property protection for our products or avoid claims of infringement; potential effects of extensive government regulation; our abilities to obtain and maintain regulatory approvals and clearances for our products that support our revenue projections, business strategies and growth; our ability to successfully execute our clinical trial roadmap; our ability to obtain and maintain sufficient reimbursement for our products; our abilities to protect and scale our intellectual property portfolio; our ability to hire and retain key personnel; our ability to obtain financing in future offerings; the volatility of the trading price of our common stock; our expectation regarding the time during which we will be an emerging growth company under the Jumpstart Our Business Startups Act (the “JOBS Act”); our ability to maintain proper and effective internal controls; and the other important factors discussed under the caption “Risk Factors” in our filings with the U.S. Securities and Exchange Commission, as may be updated from time to time in subsequent filings. These cautionary statements should not be construed by you to be exhaustive and are made only as of the date of this press release. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.

Media contact:
Shay Smith
Health+Commerce
707.971.9779
shay@healthandcommerce.com

Investor contact:
Philip Taylor
Gilmartin Group
415.937.5406
Investor.Relations@Sightsciences.com

 

SIGHT SCIENCES, INC.

Condensed Consolidated Balance Sheets (Unaudited)

(in thousands, except share and per share data)

	March 31,			December 31,
	2022			2021
Assets
Current assets:
Cash and cash equivalents	$	238,586		$	260,687
Accounts receivable, net		9,949			8,709
Inventory, net		4,082			3,475
Prepaid expenses and other current assets		2,693			4,164
Total current assets		255,310			277,035
Property and equipment, net		1,714			1,454
Operating lease right-of-use assets		1,375			1,495
Other noncurrent assets		191			202
Total assets	$	258,590		$	280,186
Liabilities, redeemable convertible preferred stock, and Stockholders’ equity (deficit)
Current liabilities:
Accounts payable	$	3,074		$	3,351
Accrued compensation		3,859			5,987
Accrued and other current liabilities		5,067			4,166
Total current liabilities		12,000			13,504
Long-term debt		32,817			32,656
Other noncurrent liabilities		1,862			1,919
Total liabilities		46,679			48,079
Commitments and contingencies (Note 6)
Redeemable convertible preferred stock:
Convertible preferred stock par value of $0.001 per share; 10,000,000 shares authorized; no shares issued and outstanding as of March 31, 2022 and December 31, 2021, respectively		—			—
Stockholders’ equity (deficit):
Preferred stock par value of $0.001 per share; 10,000,000 shares authorized; no shares issued and outstanding as of March 31, 2022 and December 31, 2021, respectively		—			—
Common stock par value of $0.001 per share; 200,000,000 shares authorized as of March 31, 2022 and December 31, 2021, respectively; 47,590,348 and 47,504,704 shares issued and outstanding as of March 31, 2022 and December 31, 2021, respectively		48			48
Additional paid-in-capital		388,127			385,060
Accumulated deficit		(176,264	)		(153,001	)
Total stockholders’ equity (deficit)		211,911			232,107
Total liabilities, redeemable convertible preferred stock and stockholders’ equity (deficit)	$	258,590		$	280,186

 

SIGHT SCIENCES, INC.

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited)

(in thousands, except share and per share data)

	Three Months Ended March 31,
	2022			2021
Revenue	$	14,881		$	8,635
Cost of goods sold		3,033			2,301
Gross profit		11,848			6,334
Operating expenses:
Research and development		5,646			3,440
Selling, general and administrative		28,395			14,550
Total operating expenses		34,041			17,990
Loss from operations		(22,193	)		(11,656	)
Interest expense		(1,046	)		(1,084	)
Other (expense) income, net		(15	)		552
Loss before income taxes		(23,254	)		(12,188	)
Provision for income taxes		9			52
Net loss and comprehensive loss	$	(23,263	)	$	(12,240	)
Net loss per share attributable to common stockholders, basic and diluted	$	(0.49	)	$	(1.29	)
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted		47,569,499			9,517,270

EX-99.2

Delivering the Power of Sight Investor Presentation May 2022 ™

1 Forward Looking Statements This presentation, together with other statements and information publicly disseminated by the Company, contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and includes this statement for purposes of complying with these safe harbor provisions. Any statements made in this presentation or during the earnings call that are not statements of historical fact, including statements about our beliefs and expectations, are forward-looking statements and should be evaluated as such. Forward-looking statements include information concerning possible or assumed future results of operations, including descriptions of our business plan and strategies. These statements often include words such as “anticipate,” “expect,” “suggests,” “plan,” “believe,” “intend,” “estimates,” “targets,” “projects,” “should,” “could,” “would,” “may,” “will,” “forecast” and other similar expressions. We base these forward-looking statements on our current expectations, plans and assumptions that we have made in light of our experience in the industry, as well as our perceptions of historical trends, current conditions, expected future developments and other factors we believe are appropriate under the circumstances at such time. Although we believe that these forward-looking statements are based on reasonable assumptions at the time they are made, you should be aware that many factors could affect our business, results of operations and financial condition and could cause actual results to differ materially from those expressed in the forward-looking statements. These statements are not guarantees of future performance or results. The forward-looking statements are subject to and involve risks, uncertainties and assumptions, and you should not place undue reliance on these forward-looking statements. These forward-looking statements include, but are not limited to, statements concerning the following: estimates of our total addressable market, future revenue, expenses, capital requirements, and our needs for additional financing; our ability to enter into and compete in new markets; execution of our market strategies; the impact of the COVID-19 pandemic on our business, our customers’ and suppliers’ businesses and the general economy; our ability to compete effectively with existing competitors and new market entrants; our ability to scale our infrastructure; our ability to develop and commercialize our product pipeline; our ability to manage and grow our business by expanding our sales to existing customers or introducing our products to new customers; our ability to establish and maintain intellectual property protection for our products or avoid claims of infringement; potential effects of extensive government regulation; our abilities to obtain and maintain regulatory approvals and clearances for our products that support our business strategies and growth; our ability to successfully execute our clinical trial roadmap our ability to obtain and maintain sufficient reimbursement for our products; our abilities to protect and scale our intellectual property portfolio; our ability to hire and retain key personnel; our ability to obtain financing in future offerings; the volatility of the trading price of our common stock; our expectation regarding the time during which we will be an emerging growth company under the Jumpstart Our Business Startups Act (the “JOBS Act”); and our ability to maintain proper and effective internal controls and the other important factors discussed under the caption “Risk Factors” in our filings with the U.S. Securities and Exchange Commission, as may be updated from time to time in subsequent filings. These cautionary statements should not be construed by you to be exhaustive and are made only as of the date of this press release. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. Certain information contained in this presentation relates to, or is based on, studies, publications, surveys and other data obtained from third-party sources and the Company’s own internal estimates and research. While the Company believes these third-party sources to be reliable, it has not independently verified, and makes no representation as to the adequacy, fairness, accuracy or completeness of, any information obtained from third-party sources. In addition, all of the market data included in this presentation involves a number of assumptions and limitations, and there can be no guarantee as to the accuracy or reliability of such assumptions. Finally, while the Company believes its own estimates and research are reliable, such estimates and research have not been verified by any independent source. We have proprietary rights to trademarks, trade names and service marks appearing in this presentation that are important to our business. Solely for convenience, the trademarks, trade names and service marks may appear in this presentation without the ® and ™ symbols, but any such references are not intended to indicate, in any way, that we forgo or will not assert, to the fullest extent under applicable law, our rights or the rights of the applicable licensors to these trademarks, trade names and service marks. All trademarks, trade names and service marks appearing in this presentation are the property of their respective owners. We do not intend our use or display of other parties’ trademarks, trade names or service marks to imply, and such use or display should not be construed to imply, a relationship with, or endorsement or sponsorship of us by, these other parties. Without limitation, SIGHT SCIENCES™, OMNI®, and TEARCARE® are trademarks of Sight Sciences, Inc. in the United States and other countries. 1

2 Transform Ophthalmology and Optometry through products that target the underlying causes of the world’s most prevalent eye diseasesEstablish new treatment paradigms and create an interventional mindset in Eyecare to replace conventional outdated approaches Our Mission Goal: Products that Restore Natural Functionality of Diseased Eyes to Deliver Consistent, Effective and Safe Outcomes for Patients

CURRENT PRODUCT PORTFOLIO Additional products in development to build comprehensive portfolio of POAG and DED treatment options Glaucoma is #1 cause of irreversible blindness Microinvasive Glaucoma Surgery (MIGS) is the leading innovation in POAG treatment Underdeveloped Standalone MIGS segment represents $5 billion U.S. market opportunity OMNI® indicated to treat all severities of POAG in adults with or without concomitant cataract surgery Increasing DED prevalence linked to many prominent demographic, medical and sociological trends MGD is associated with 86% of DED cases but severely undertreated in current DED practice Massive need for patient access to effective MGD treatment TearCare® indicated for patients with evaporative DED due to MGD 3.4M Diagnosed U.S. patients $6Bn U.S. TAM Primary Open-Angle Glaucoma (POAG) Dry Eye Disease (DED) due to Meibomian Gland Disease (MGD) 14M Diagnosed U.S. patients $10Bn U.S. TAM ~100k Cases Performed1 ~20k Cases Performed1 As of March 31, 2022. 3

Strategic Value Creation Initiatives Expand Presence in Established Combination Cataract MIGS Segment in POAG Continue gaining adoption among existing base of >5,600 MIGS-trained surgeons Continue penetrating Combination Cataract segment by leveraging the ability of OMNI® to address all three points of potential resistance in the conventional outflow pathway More established market that remains a compelling growth opportunity: $1BN U.S. TAM, 17% claims CAGR 2018-21, ~1/3 penetrated Develop and Grow Underserved Standalone MIGS Segment in POAG Significant untapped opportunity in 5x larger Standalone MIGS segment Enable surgeons to intervene earlier in disease progression with minimally invasive procedure, treating patients not requiring cataract surgery Expand use by existing OMNI-trained surgeons from Combination Cataract cases to Standalone cases Educate POAG community regarding earlier potential Standalone interventions, help connect with OMNI-trained surgeons Develop Market Access for TearCare® Procedures Long term strategy with multiple complementary elements SAHARA RCT versus Restasis® – designed with input from eight payor medical directors to demonstrate effectiveness and durability Increase real-world usage and claims submissions December 2021 FDA clearance expanded indication for use Convert existing Category III CPT code (0563T) to permanent Category I code Bedrock of Clinical Excellence: 10 ongoing and planned trials, including 4 RCTs 4

Primary Open-Angle Glaucoma (POAG) ™

5 OMNI®: Broad FDA-Cleared Indication for Use OMNI enables two sequential, ab interno MIGS procedures in adults with POAG – intuitive, minimally invasive, performed through a single clear corneal microincision, and each titratable up to 360° Trabeculotomy using OMNI Canaloplasty using OMNI “for canaloplasty (microcatheterization and transluminal viscodilation of Schlemm's canal) followed by trabeculotomy (cutting of trabecular meshwork) to reduce intraocular pressure (IOP) in adult patients with primary open–angle glaucoma” Conventional ab externo canaloplasty and trabeculotomy procedures are effective, but invasive (require deep scleral incisions) and associated with complications and longer recovery times Schlemm’s Canal Schlemm’s Canal Trabecular Meshwork Trabecular Meshwork Collector Channels Cannula Tip Cannula Tip Microcatheter Microcatheter Clear Corneal Microincision Clear Corneal Microincision Collector Channels

We believe (i) there is NO diagnostic to determine where the resistance is in the conventional outflow pathway and (ii) OMNI® is singularly well-suited to address all 3 primary points of resistance OMNI® Addresses the 3 Primary Points of Resistance 1 2 3 TRABECULAR MESHWORK SCHLEMM’SCANAL DISTAL COLLECTORCHANNELS Canaloplasty using OMNI expands and dilates Schlemm’s canal and collector channels We believe OMNI is singularly well-suited among MIGS devices to comprehensively address all 3 primary points of resistance in the conventional outflow pathway Trabeculotomy using OMNI unroofs the trabecular meshwork 6

Enabling an Interventional Mindset in POAG PRESCRIPTION MEDICATIONS Surgeons can use OMNI® to intervene across a broad population of POAG patients STANDALONE (>85%1 of POAG; ~5.4M eyes) COMBINATION CATARACT (<15%1; ~0.8M eyes) CONVENTIONAL TREATMENTS TRABECULAR BYPASS STENTS LASER TRABECULOPLASTY CONVENTIONAL SURGERY MILD (~40%) MODERATE (~40%) ADVANCED (~20%) Represents estimated % of U.S. POAG patients  1 1 1 ALTERNATIVE BYPASS STENTS MIGS 7

OMNI® is Titratable to All 6 MIGS Categories in POAG Low Risk of Hyphema Consistency of Efficacy Degree of Efficacy Represents estimated % of U.S. POAG TAM  The FDA granted an investigational device exemption authorizing our PRECISION RCT to assess the safety and effectiveness of a canaloplasty alone procedure in conjunction with cataract surgery Mild Disease (40%)1 Moderate Disease(40%)1 Advanced Disease (20%)1 Primary Distinguishing Treatment Requirements for MIGS Procedures: 360° Canaloplasty2 360° Canaloplasty 90° - 180° Trab 360° Canaloplasty 90° - 180° Trab 360° Canaloplasty 180° Trab 360° Canaloplasty 180° - 360° Trab 360° Canaloplasty 360° Trab Combination Cataract MIGS <15%1 Standalone MIGS >85%1 8

11 OMNI Outpacing Growth Of Overall Canaloplasty Claims Gaining Penetration in Combination Cataract 2018-21 CAGRs 66984 + All MIGS Codes: 17% 66984 + Canaloplasty: 81% 2018-21 CAGR 122% 2018-21 CAGR 71% Canaloplasty Claims Growing In Combination Cataract MIGS 1. Includes 66174 Canaloplasty, 65820 Trabeculotomy, 0449T ab interno Trabeculectomy, 0191T trabecular bypass implant used in conjunction with 66984 routine cataract. Source: Company research based on independent third-party analytics data. Accuracy of these data and projections is subject to a number of variables, some of which are not within the Company’s control. 9

Pieces in place to deliver the benefits of Standalone Broadest label and most comprehensive treatment of conventional outflow pathway Significant investment in clinical trials, including 3 OMNI superiority RCTs versus existing treatments Glaucoma Clinical Consultants educating POAG community Significant penetration among existing MIGS-trained surgeons Effective surgeon training program driving adoption OMNI efficacy, consistency and safety + Strong & growing base of adopted surgeons + Patient demand for better treatment alternatives + Methodical market education initiative 10

Canaloplasty Propelling Standalone MIGS Standalone Canaloplasty claims have more than doubled since 2018; claims for the other top Standalone glaucoma codes declining Standalone Canaloplasty claims driving growth of all Standalone MIGS; included in almost one-half of Standalone MIGS claims 2H2021 2018-21 CAGR 29% 2018-21 CAGR 0.4% 2018-21 CAGR -6% 2018-21 CAGR -8% 1. Includes 66174 Canaloplasty, 65820 Trabeculotomy, 0449T ab interno Trabeculectomy, 66170 ab externo Trabeculectomy. 2. Includes 66174 Canaloplasty, 65820 Trabeculotomy, 0449T ab interno Trabeculectomy. Source: Company research based on independent third-party analytics data. Accuracy of these data and projections is subject to a number of variables, some of which are not within the Company’s control. 11

85% of glaucoma patients would be likely to get a Standalone intervention with OMNI if recommended by their doctor1 Developing the Standalone MIGS POAG Segment Convert >5,600 MIGS-Trained Surgeons to OMNI Exceptional customer experience; hands-on training in dry labs and OR ~1,600 surgeons trained to use OMNI Penetrate Existing Combination Cataract MIGS Surgeons begin using OMNI in CC cases that are already on their schedule >800 ordering accounts in 2022Q1 Develop + Grow Underserved Standalone MIGS Educate patients and primary care eye doctors OMNI code is the only growing procedure among Standalone glaucoma claims Company market research. Surgical Sales Representatives: train and support surgeons at ASCs and HOPDs + Strategic Account Managers: train and support surgeons at teaching institutions, VA hospitals Glaucoma Clinical Consultants: educate POAG community about potential benefits of Standalone interventions 12

ROMEO (Completed) GEMINI (Completed) 8 Ongoing and Planned Trials Goals 12-month multi-center retrospective real world study Elevated baseline IOP group: significant reduction in IOP and medications Controlled baseline IOP group: IOP controlled, significant reduction in medications Compelling and consistent data supported broad FDA cleared indication Includes three RCTs: TRIDENT, PRECISION and JAEGER Prospective and real-world study designs Plan to include over 1,500 subjects Standalone and Combination Cataract U.S. and Europe Drive competitive differentiation and bolster marketing campaigns Establish OMNI as MIGS standard of care in POAG Support reimbursement and coverage Seek FDA clearance of expanded IFU (canaloplasty alone) Support Standalone market development Support OUS commercial efforts 12-month multi-center prospective, historic controlled N=150, Mild-to-Moderate, Combination Cataract 12-month follow up complete Diurnal IOP article published 3Q2021, two more articles expected 1H2022 OMNI® Robust Clinical Roadmap MIGS Clinical Program 13 Note: Clinical trials, including their design, endpoints and timing, are subject to change at the Company’s discretion. Initial results may include preliminary data and interim analyses that are subject to change.

19 Recent and Anticipated OMNI® Clinical Milestones 16 presentations planned for Ophthalmic Congresses in 2022; Active investigator initiated trial (IIT) program 2022 Q1 TRIDENT: first patient treated GEMINI: OMNI procedures in Hispanic eyes published in Clinical Ophthalmology 20222Q Plan PRECISION: first patient enrollment GEMINI: 12-month results in Clinical Ophthalmology 20222H Plan TREY: OMNI in patients with history of canal implants in JCRS ROMEO II: in Ophthalmology Glaucoma JAEGER: study initiation 14 Note: Clinical trials, including their design, endpoints and timing, are subject to change at the Company’s discretion. Initial results may include preliminary data and interim analyses that are subject to change.

Dry Eye Disease ™

Dry Eye Disease and Meibomian Gland Dysfunction MEIBOMIAN GLANDS Dry Eye Disease (DED) can be extremely painful and can lead to permanent cornea damage and vision impairment MGD is present in the vast majority of diagnosed dry eye cases, linked to many prominent demographic, medical and sociological trends Clogged glands prevent meibum, an oily secretion that protects tears from premature evaporation, from reaching the tear DED treatment historically focused on aqueous deficiency and inflammation 38 million affected in U.S. (17 million diagnosed) 86% of DED caused by MGD $10 Bn U.S. TAM, hugely underserved 0% meaningful reimbursement for MGD procedures 15

Our Solution: TearCare® The Only Open-Eye Heat + Expression device designed to melt + remove meibomian gland obstructions Intuitive Design Designed for intuitive provider training and comfortable patient experience SmartLids™ are designed to conform to variable eyelid anatomy and heat glands to a proven temperature to “prime” meibum through natural blinking Intelligent Therapeutic Heat In patients with MGD, meibum hardens within the meibomian glands and forms obstructions TearCare delivers software and sensor-controlled, precise (41° C at the inner eyelid) and consistent (15 minutes) heat that has been clinically proven to melt gland obstructions Enables manual gland clearance by an ECP 16

New TearCare® IFU Cleared by FDA December 2021 December 2021 Indication for Use “For the application of localized heat therapy in adult patients with evaporative DED due to MGD, when used in conjunction with manual expression of the meibomian glands” Considerable benefits from expanded indication for use Reduce IOP in adult patients with POAG across the spectrum of disease severity Key step toward achieving ultimate IFU goal: treat signs and symptoms of DED due to MGD Significant improvement over prior “tool” claim backed by robust clinical data; specifically mentions heat therapy and manual expression Enhances promotional capabilities: marketing collateral and sales reps can now explicitly address all key attributes of the TearCare System Allows patients and ECPs to have more intuitive understanding of the TearCare System’s ability to treat DED due to MGD Supported by favorable safety and efficacy data from our OLYMPIA RCT 17

1 Support Patient Access Strategy with Expanded Label and RCT Clinical Data vs. Rx Clinical and real-world data intended to support coverage, coding and payment Payor research: conducted eight 1:1s with medical directors from national and regional payors for feedback on our clinical programs (e.g., endpoints, value, messaging, pricing strategy) to drive patient access Goal: broad coverage and appropriate payment from private payors and Medicare for treating DED due to MGD Key Learnings: Expand indications for use – ultimate IFU goal: “treat the signs and symptoms of evaporative DED due to MGD” Conduct SAHARA RCT, designed to provide key clinical data to support potential reimbursement decisions by third-party payors Utilize real-world prior authorization and claims data to demonstrate to payors the perceived value of TearCare® Convert temporary Category III CPT code for TearCare to a permanent Category I CPT code Expand Indication 2 SAHARA 3 Real-World Claims 4 Category 1 Code 18

TearCare® Clinical Program Summary OLYMPIA RCT (Completed) Head-to-head versus MGD device (LipiFlow®) Objective: To study effectiveness and safety of the TearCare System compared to LipiFlow in reducing the signs and symptoms of DED Prospective multi‐center (10 sites), randomized controlled, masked 135 total subjects Completed with favorable results: Primary endpoint of non-inferiority met and no statistically significant differences between TearCare and LipiFlow observed A single use of TearCare successfully reduced signs and symptoms of DED w/in 2 weeks In a post-hoc analysis, a significantly greater proportion of patients in the TearCare group showed improvements in at least one OSDI category from baseline compared to LipiFlow Clinical trials designed with specific end goals in mind SAHARA RCT (Ongoing) RESTORE (Planning Phase) Head-to-head vs. market leading DED Rx eyedrop Enrollment ongoing 24-month study period (n = 300) Designed with input from 8 payor medical directors with goal of driving reimbursement and coverage Real-world evidence program Evaluate effect of TearCare treatments on patients previously treated with Restasis® or Xiidra® Multi-center U.S. study, n = 300 19

TearCare® Clinical Milestones & Timeline Note: Clinical trials, including their design, endpoints and timing, are subject to change at the Company’s discretion. Initial results may include preliminary data and interim analyses that are subject to change. 10 presentations planned for Ophthalmic Congresses in 2022; Active IIT program 2021 SAHARA: first patient, first visit OLYMPIA: results in Cornea 2022 1H PLAN RESTORE: initiation planned OLYMPIA: symptom post-hoc results in Ocular Surface 2022 2H PLAN RESTORE: 3-month results available IIT articles in Cornea and Optometry & Vision Science 2023 PLAN SAHARA: 1-month results available SAHARA: 6-month results available 20

TearCare® Controlled Release - Executing a controlled release of TearCare with ~10 direct outside sales reps since April 2019 (expanded to ~15 in late Q4 2021) - Successful patient-pay adoption Over 600 facilities added (through 3/31/21); sizable base of steady reordering accounts Messaging focused on personalized, open-eye application of intelligent phase transition heat through user-friendly technology Fair Access campaign launched April 2022 to engage physician and patient stakeholders to support insured access with fair physician reimbursement 4 3 2 1 Establish market appropriate pricing programs consistent with strong RVU analysis Increase market awareness of MGD and product differentiation of the TearCare System Provide customers with reimbursement resources to support coverage / payment Partner with practices willing to advocate to health plans on behalf of MGD patients seeking access to the TearCare System 5 Secure optimal payor coverage and appropriate payment for the TearCare System through partnerships with relevant societies, KOLs and other stakeholders Overview Strategy 21

26 New Product Overview ™

Four fundamental requirements to deliver consistent, effective and safe outcomes for patients Our Product Development Process ComprehensiveUnderstandingof DiseasePhysiology Analyze available clinical data, science and literature to achieve sound understanding of disease Address theUnderlying Causes Developing and marketing products designed to restore natural functionality of diseased eyes for optimal combination of effectiveness and safety Intuitive Design Innovate with intuitive, minimally invasive, user-friendly “go to” solutions and procedures for eyecare providers (ECPs) Patient Access Maximize availability and accessibility of solutions to patients with a data-driven approach and clinical rigor 22

Our product development initiatives further leverage: An unparalleled clinical understanding of the underlying causes of glaucoma & dry eye A differentiated and efficient development process Ongoing and substantial investment in specialized Sales, Marketing, Clinical and Market Access resources that are developing the deep, focused stakeholder relationships throughout eyecare Through OMNI and TearCare, substantial goodwill / credibility with ECPs that associates Sight Sciences with highly proprietary, “best-in-class” innovative treatments High-quality corporate infrastructure that has been built with specific lens on being able to scale with a high growth, diverse operating environment Lead the Glaucoma and Dry Eye Categories 1 2 3 4 5 Leverage Sight’s Proven Development Expertise and Commercial Infrastructure 23

Lead the Glaucoma and Dry Eye Disease Categories Portfolio will treat all severities of disease, ranging from mild to advanced Product suite will address the full continuum of care in tomorrow’s treatment paradigm + Portfolio will offer each of OTC, Sustained Rx, and Devices/Procedures Ability to treat patients in all appropriate care settings (home, in-office and operating room) Goal: global category leadership 24

Offer a Comprehensive Portfolio of Six Products GLAUCOMA PRODUCT DEVELOPMENT OVERVIEW 4. FDA-cleared canaloplasty followed by trabeculotomy 5. Canaloplasty alone IDE trial underway MILD TO MODERATE DISEASE In-office Injection of Sustained Release Pharmaceutical (Rx) 1 MILD TO MODERATE DISEASE OR Performed Canal-based Glaucoma Surgery (MIGS) 4&5 MODERATE TO ADVANCED DISEASE OR Performed Suprachoroidal Implant (MIGS) 6 MILD TO MODERATE DISEASE Implantable Canalicular Scaffold (MIGS) 2 MILD TO MODERATE DISEASE OR Performed Goniotomy Device (MIGS) 3 2022 Introduction 2022 Introduction(3rd Gen) 25

Over-the-counter Artificial Tear With A Differentiated Lipid Layer Technology Dry Eye Disease Prescription Pharmaceutical Eyelid Ointment Office-Based Eyelid Procedure Home-Based Eyelid Device Treatment 1 2 4 Offer a Comprehensive Portfolio of Four Products DRY EYE DISEASE PRODUCT DEVELOPMENT OVERVIEW 3 2023 Next Gen Release 26

26 Financial Overview ™

1Q22 Highlights 1Q revenue $14.9M Surgical Glaucoma $13.9M Dry Eye $1.0M 1Q YoY revenue growth Surgical Glaucoma: 70% Dry Eye: 104% Total: 72% 1Q gross margins Surgical Glaucoma: 89% Dry Eye: (53%) Total: 80% FY22 Guidance: $67MM to $75MM (37% to 53% growth over FY21) $238.6M of cash on hand at 3/31/22 Strong Financial Profile Y/Y Growth Surgical Glaucoma 59% (43%) 33% 30% 33% 263% 58% 60% 70% 196% 17% 79% - Dry Eye - 38% 83% (43%) 25% 169% (15%) 179% 104% - 57% 50% - Total 70% (41%) 36% 25% 33% 258% 51% 63% 72% 210% 18% 77% 45% Revenue by Segment ($MM) * * Represents midpoint of FY22 total revenue guidance * 27

26 Appendix ™

OMNI® Clinical Timeline Note: Clinical trials, including their design, endpoints and timing, are subject to change at the Company’s discretion. Initial results may include preliminary data and interim analyses that are subject to change. 28

CMS Final Payment Rules 2022 vs. 2021 Reimbursement for Combination Cataract Canaloplasty Procedures will be more competitive in 2022 Professional fees for Canaloplasty and Canal Implant Combination Cataract were reduced Canaloplasty maintains $350 advantage over Canal Implants in Combination Cataract setting Standalone Canaloplasty fee $216 higher than Routine Cataract Note: 66991 is a new code effective 1/1/22. The estimated 2021 fees are based on representative carrier pricing for 0191T plus 50% of 66984. ASCs account for ~80% of MIGS volume Reimbursement for Canaloplasty improved relative to canal implants for Combination Cataract procedures Canaloplasty reimbursement higher than cataract Seeking more appropriate and accurate reimbursement for Canaloplasty with support of major professional societies Note: 66991 is a new code effective 1/1/22. The estimated 2021 fees are based on 2021 fees for 0191T plus 50% of 66984. 29

XML

Document And Entity Information	May 10, 2022
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Document Type	8-K
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Document Period End Date	May 10, 2022
Entity Registrant Name	Sight Sciences, Inc.
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Entity Emerging Growth Company	true
Entity File Number	001-40587
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	80-0625749
Entity Address, Address Line One	4040 Campbell Avenue
Entity Address, Address Line Two	Suite 100
Entity Address, City or Town	Menlo Park
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94025
City Area Code	877
Local Phone Number	266-1144
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Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Entity Ex Transition Period	false
Title of 12(b) Security	Common Stock, $0.001 par value per share
Trading Symbol	SGHT
Security Exchange Name	NASDAQ