Sight Sciences
SGHT on Nasdaq. Sight Sciences sells eye surgery and dry eye devices to eye doctors. Market value $491m.
Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to December 2025.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
Nothing stands out yet.
See Health care stocks that passed both tests
This is not advice. Check the numbers below.
For every $100 of what the whole company costs, it produced $-4.95 of spare cash in the past 12 months. A savings account pays about $4.
The filings do not give us enough to work this out.
Each dollar kept in the business earns -612 cents a year. Above 10 is good.
Quality score: 40 of 100. Price score: 0 of 100. Our list needs 70 on quality and 60 on price.
$8.56 a share, 168% above its 1-year low
Over the past year the price has ranged from $3.19 to $9.71.
Pays no dividend
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
| Revenue | |||||
| Revenue | $49m | $71m | $81m | $80m | $77m |
| Operating margin | |||||
| Operating margin | -105.2% | -117.7% | -70.7% | -63.3% | -48.0% |
| Debt to equity | |||||
| Debt to equity | 0.15 | 0.22 | 0.28 | 0.45 | 0.66 |
| Shares outstanding | |||||
| Shares outstanding | 0.05bn | 0.05bn | 0.05bn | 0.05bn | 0.06bn |
Health checks
- Free cash flow positive0 of 5 years
- Accounting checksSkipped: company is not yet profitable
- Debt0.66× equity
- Revenue growth, five yearsStrong, 12.1% a year
- Buying back its own sharesNo, 14% more shares since 2021
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $23 million last quarter, up 20% on a year ago.
- A loss of $4 million, compared with a loss of $12 million a year ago.
- It loses 33 cents on each $1 of sales, compared with 64 cents a year earlier.
- Over the past 12 months it spent $23 million more cash than it brought in, compared with $23 million a year earlier.
- 5% more shares than a year ago. Each share owns a bit less of the company.
- It has $29 million more cash than debt, down from $59 million a year ago.
- Sales grew on a year ago in 3 of the last 4 quarters.
| Quarter to | Amount |
|---|---|
| September 2024 | $20m |
| December 2024 | $19m |
| March 2025 | $18m |
| June 2025 | $20m |
| September 2025 | $20m |
| December 2025 | $20m |
| March 2026 | $20m |
| June 2026 | $23m |
| Quarter to | Amount |
|---|---|
| September 2024 | -$11m |
| December 2024 | -$12m |
| March 2025 | -$14m |
| June 2025 | -$12m |
| September 2025 | -$8m |
| December 2025 | -$4m |
| March 2026 | -$13m |
| June 2026 | -$4m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 4 March 2026
- Next quarterly (estimated, 10-Q)
- 4 November 2026
Who owns it
None of the long-term investors we follow own it. 112 funds in all.
Largest holders overall
- Long Focus Capital Management$21mAdded
- BlackRock$17mAdded
- Americana Partners$9m
- Pathstone Holdings$9mCut
- Vanguard Capital Management$9mAdded
- Geode Capital Management$5mAdded
- State Street$5m
- Acadian Asset Management$4mAdded
- B Group$4m
- AQR Capital Management$2mAdded
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
5 investors own more than 5%.
- Staffan EncrantzPassive investorat least 13.1%(filed with 2 related holders)Since 11 March 2025
What they said
The Fund acquired the Acquired Shares for investment purposes. One or more persons identified in Item 2 may buy or sell additional securities of the Issuer from time to time in open market or private transactions, depending on its evaluation of the Issuer's business, prospects…
Read the filing - LONG FOCUS CAPITAL MANAGEMENT, LLCPassive investorat least 6.0%+1.0 pts(filed with 1 related holder)Since 31 March 2025
- BlackRock, Inc.Passive investor5.0%Since 31 December 2025
- LONG FOCUS CAPITAL MASTER, LTD.Passive investorat least 3.7%(filed with 2 related holders)Since 16 January 2025
- KCK LTD.Passive investorat least 2.7%−4.3 pts(filed with 1 related holder)Since 31 March 2026
| Holder | Stake | Since | |
|---|---|---|---|
Staffan Encrantz Passive investor | at least 13.1% (filed with 2 related holders) | 11 March 2025 | What they saidThe Fund acquired the Acquired Shares for investment purposes. One or more persons identified in Item 2 may buy or sell additional securities of the Issuer from time to time in open market or private transactions, depending on its evaluation of the Issuer's business, prospects… Read the filing |
LONG FOCUS CAPITAL MANAGEMENT, LLC Passive investor | at least 6.0%+1.0 pts (filed with 1 related holder) | 31 March 2025 | |
BlackRock, Inc. Passive investor | 5.0% | 31 December 2025 | |
LONG FOCUS CAPITAL MASTER, LTD. Passive investor | at least 3.7% (filed with 2 related holders) | 16 January 2025 | |
KCK LTD. Passive investor | at least 2.7%−4.3 pts (filed with 1 related holder) | 31 March 2026 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
In the last 12 months, 1 insider bought $184,799 of shares on the open market. 6 sold $3m, $2m of it under preset trading plans.
- Taylor BrentonEVP, Operations & R&DSoldunder a preset trading plan
- Date
- 2 October 2026
- Shares
- 2,988
- Price
- $8.85
- Value
- $26,453
- Bauerlein AlisonChief Operating OfficerSoldunder a preset trading plan
- Date
- 2 October 2026
- Shares
- 25,260
- Price
- $8.85
- Value
- $223,627
- Rodberg JamesChief Financial OfficerSoldunder a preset trading plan
- Date
- 2 October 2026
- Shares
- 7,208
- Price
- $8.85
- Value
- $63,812
- Badawi DavidChief Technology Officer, DirectorSoldunder a preset trading plan
- Date
- 1 October 2026
- Shares
- 7,797
- Price
- $9.05
- Value
- $70,555
- Badawi PaulPresident and CEO, DirectorSoldunder a preset trading plan
- Date
- 1 October 2026
- Shares
- 29,653
- Price
- $9.05
- Value
- $268,330
- HAYDEN JEREMY B.Chief Legal OfficerSoldunder a preset trading plan
- Date
- 6 July 2026
- Shares
- 12,733
- Price
- $5.51
- Value
- $70,133
- Badawi DavidChief Technology Officer, DirectorSoldunder a preset trading plan
- Date
- 6 July 2026
- Shares
- 7,418
- Price
- $5.51
- Value
- $40,858
- Rodberg JamesChief Financial OfficerSoldunder a preset trading plan
- Date
- 2 July 2026
- Shares
- 6,902
- Price
- $5.36
- Value
- $36,995
- Bauerlein AlisonChief Operating OfficerSoldunder a preset trading plan
- Date
- 2 July 2026
- Shares
- 24,184
- Price
- $5.36
- Value
- $129,626
- Taylor BrentonEVP, Operations & R&DSoldunder a preset trading plan
- Date
- 1 July 2026
- Shares
- 2,829
- Price
- $5.42
- Value
- $15,333
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 2 October 2026 | Taylor Brenton EVP, Operations & R&D | Sold under a preset trading plan | 2,988 | $8.85 | $26,453 |
| 2 October 2026 | Bauerlein Alison Chief Operating Officer | Sold under a preset trading plan | 25,260 | $8.85 | $223,627 |
| 2 October 2026 | Rodberg James Chief Financial Officer | Sold under a preset trading plan | 7,208 | $8.85 | $63,812 |
| 1 October 2026 | Badawi David Chief Technology Officer, Director | Sold under a preset trading plan | 7,797 | $9.05 | $70,555 |
| 1 October 2026 | Badawi Paul President and CEO, Director | Sold under a preset trading plan | 29,653 | $9.05 | $268,330 |
| 6 July 2026 | HAYDEN JEREMY B. Chief Legal Officer | Sold under a preset trading plan | 12,733 | $5.51 | $70,133 |
| 6 July 2026 | Badawi David Chief Technology Officer, Director | Sold under a preset trading plan | 7,418 | $5.51 | $40,858 |
| 2 July 2026 | Rodberg James Chief Financial Officer | Sold under a preset trading plan | 6,902 | $5.36 | $36,995 |
| 2 July 2026 | Bauerlein Alison Chief Operating Officer | Sold under a preset trading plan | 24,184 | $5.36 | $129,626 |
| 1 July 2026 | Taylor Brenton EVP, Operations & R&D | Sold under a preset trading plan | 2,829 | $5.42 | $15,333 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
What could go wrong
Cheap for a reason is the question the numbers cannot answer.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.