Sight Sciences, Inc. Segments Disclosure
Note 11. Segment Information
The Company’s Chief Executive Officer, who is the Company’s Chief Operating Decision Maker (“CODM”), manages the business through two operating segments, consistent with how the Company’s Chief Executive Officer: (i) assesses operating performance on a regular basis, (ii) makes resource allocation decisions, and (iii) designates responsibilities of his direct reports. The Company’s operating segments, which were renamed in 2025, and which also qualify as reportable segments include: (i) Interventional Glaucoma (formerly “Surgical Glaucoma”) and (ii) Interventional Dry Eye (formerly “Dry Eye”). The change in names of the operating segments has no impact on how the CODM manages the business. These segments are generally determined based on the decision-making structure and the grouping of similar products and services.
The Company’s CODM uses segment gross profit to assess the operating performance and make resource allocation decisions for each of its segments. Segment gross profit represents revenue reduced by cost of goods sold within each of the operating and reportable segments. The CODM reviews a monthly executive reporting package based on consolidated results of the Company when making decisions about allocating resources and assessing performance. The CODM evaluates actual segment performance to budget and forecast, including monthly sales performance, when allocating capital and personnel.
The Company does not have any intercompany transactions between segments that require elimination. The CODM does not review operating expenses separately for its segments, as the Company does not allocate operating expenses, with many operating costs shared between the segments, and therefore, this is not considered when allocating resources and
assessing performance. The Company evaluated the monthly executive reporting package and did not identify any significant or other expenses for disclosure that are not already presented.
In reviewing and assessing segment performance and managing operations, management does not review segment assets. Substantially all of the Company’s revenue is generated from sales in the United States.
The following table summarizes select operating results information for each reportable segment (dollars in thousands):
|
|
Years Ended December 31, |
|
|||||
|
|
2025 |
|
|
2024 |
|
||
Revenue |
|
|
|
|
|
|
||
Interventional Glaucoma |
|
$ |
75,724 |
|
|
$ |
75,902 |
|
Interventional Dry Eye |
|
|
1,639 |
|
|
|
3,964 |
|
Total |
|
|
77,363 |
|
|
|
79,866 |
|
Cost of goods sold |
|
|
|
|
|
|
||
Interventional Glaucoma |
|
|
10,030 |
|
|
|
9,448 |
|
Interventional Dry Eye |
|
|
667 |
|
|
|
2,133 |
|
Total |
|
|
10,697 |
|
|
|
11,581 |
|
Gross profit |
|
|
|
|
|
|
||
Interventional Glaucoma |
|
|
65,694 |
|
|
|
66,454 |
|
Interventional Dry Eye |
|
|
972 |
|
|
|
1,831 |
|
Total |
|
|
66,666 |
|
|
|
68,285 |
|
Operating expense |
|
|
(103,765 |
) |
|
|
(118,817 |
) |
Investment income |
|
|
3,973 |
|
|
|
5,917 |
|
Interest expense |
|
|
(5,142 |
) |
|
|
(4,662 |
) |
Loss on debt extinguishment |
|
|
— |
|
|
|
(1,962 |
) |
Other expense, net |
|
|
(148 |
) |
|
|
(32 |
) |
Loss before income tax |
|
$ |
(38,416 |
) |
|
$ |
(51,271 |
) |
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 4, 2026 | Showing above |
| 2024 | Mar 7, 2025 | |
| 2023 | Mar 13, 2024 | |
| 2022 | Mar 16, 2023 | |
| 2021 | Mar 24, 2022 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.