Preliminary Financial Highlights
Fourth quarter 2023 total revenue is expected to be in the range of
- Surgical Glaucoma revenues are expected to be in the range of
$17.1 million to$17.2 million , a decrease of 9% compared to the prior year period at the estimated midpoint. - Dry Eye revenues are expected to be in the range of
$1.5 million to$1.6 million , a decrease of 13% compared to the prior year period at the estimated midpoint.
Full year 2023 total revenue is expected to be in the range of
- Surgical Glaucoma revenues are expected to be in the range of
$74.3 million to$74.4 million , an increase of 13% compared to the prior year at the estimated midpoint. - Dry Eye revenues are expected to be in the range of
$6.6 million to$6.7 million , an increase of 17% compared to the prior year at the estimated midpoint.
The Company’s cash and cash equivalents as of
The Company’s fourth quarter and full year 2023 financial results are preliminary and subject to the completion of the Company’s 2023 audit. The Company expects to announce complete fourth quarter and full year 2023 financial results in
"We are pleased to see the resilience exhibited in our fourth quarter sales and the double-digit revenue growth achieved for full year 2023 amidst the significant reimbursement uncertainty in our Surgical Glaucoma segment. We believe this is a testament to the differentiated clinical efficacy of the comprehensive outflow procedure performed with our OMNI® Surgical System technology, the high number of glaucoma surgeons who have mastered the OMNI procedure and made it an essential component of their glaucoma treatment paradigm, and our exceptional team and their incredibly valuable relationships with esteemed ophthalmologists across the country. We were successful in reducing our cost structure and optimizing our commercial teams organizationally to enhance effectiveness, maintain flexibility in prioritizing our strategic objectives, and extend our cash runway in a more dynamic operating environment," said
Financial Disclosure Advisory
The Company reports its financial results in accordance with
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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 such 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, but are not limited to, statements concerning expected results for fourth quarter and full year 2023, timing for announcement of complete fourth quarter and full year 2023 financial results, and; continued engagement with all of the MACs, CMS and the national and state societies to ensure glaucoma patients and their physicians maintain appropriate and fair access to medically reasonable and necessary MIGS procedures and technologies. 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 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 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. These forward-looking statements are subject to and involve numerous risks, uncertainties and assumptions, including those discussed under the caption “Risk Factors” in our filings with the
Media contact:
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Investor contact:
415.937.5406
Investor.Relations@SightSciences.com
Source:
2024 GlobeNewswire, Inc., source