2022 Q1 Form 10-K Financial Statement

#000095017022004563 Filed on March 24, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q4 2021
Revenue $14.88M $14.69M $48.96M
YoY Change 72.33% 63.33% 77.12%
Cost Of Revenue $3.033M $1.942M $8.610M
YoY Change 31.81% -18.27% -6.5%
Gross Profit $11.85M $12.74M $40.35M
YoY Change 87.05% 92.64% 118.9%
Gross Profit Margin 79.62% 86.78% 82.41%
Selling, General & Admin $28.40M $23.09M $76.19M
YoY Change 95.15% 89.65% 82.51%
% of Gross Profit 239.66% 181.2% 188.84%
Research & Development $5.646M $4.369M $15.63M
YoY Change 64.13% 52.23% 76.18%
% of Gross Profit 47.65% 34.29% 38.75%
Depreciation & Amortization $200.0K $175.0K $600.0K
YoY Change 100.0% 0.0%
% of Gross Profit 1.69% 1.37% 1.49%
Operating Expenses $34.04M $27.46M $91.82M
YoY Change 89.22% 82.48% 81.4%
Operating Profit -$22.19M -$14.72M -$51.48M
YoY Change 90.4% 74.5% 59.93%
Interest Expense $1.046M -$1.078M $4.366M
YoY Change -3.51% 41.1% 81.69%
% of Operating Profit
Other Income/Expense, Net -$15.00K -$44.00K -$6.928M
YoY Change -102.72% -140.74% 9657.75%
Pretax Income -$23.25M -$15.84M -$62.77M
YoY Change 90.79% 74.25% 81.25%
Income Tax $9.000K $98.00K $188.0K
% Of Pretax Income
Net Earnings -$23.26M -$15.94M -$62.96M
YoY Change 90.06% 75.02% 81.48%
Net Earnings / Revenue -156.33% -108.52% -128.61%
Basic Earnings Per Share -$0.49 -$2.36
Diluted Earnings Per Share -$489.0K -$334.6K -$2.355M
COMMON SHARES
Basic Shares Outstanding 47.59M 47.31M 26.73M
Diluted Shares Outstanding 47.57M 26.73M

Balance Sheet

Concept 2022 Q1 2021 Q4 2021
SHORT-TERM ASSETS
Cash & Short-Term Investments $238.6M $260.7M $260.7M
YoY Change 393.69% 323.81%
Cash & Equivalents $238.6M $260.7M $260.7M
Short-Term Investments
Other Short-Term Assets $2.693M $4.164M $4.164M
YoY Change 158.94% 258.66%
Inventory $4.082M $3.475M $3.475M
Prepaid Expenses
Receivables $9.949M $8.709M $8.709M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $255.3M $277.0M $277.0M
YoY Change 343.73% 292.22% 292.22%
LONG-TERM ASSETS
Property, Plant & Equipment $1.714M $1.454M $2.949M
YoY Change 8.07% 14.58% 65.03%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $191.0K $202.0K $202.0K
YoY Change -86.45% -47.67% -47.67%
Total Long-Term Assets $3.280M $3.151M $3.151M
YoY Change 9.48% 45.01% 45.01%
TOTAL ASSETS
Total Short-Term Assets $255.3M $277.0M $277.0M
Total Long-Term Assets $3.280M $3.151M $3.151M
Total Assets $258.6M $280.2M $280.2M
YoY Change 327.19% 284.84% 284.84%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.074M $3.351M $3.351M
YoY Change 2.13% 55.28% 55.28%
Accrued Expenses $3.518M $2.726M $10.15M
YoY Change -44.05% 38.31% 41.88%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00
YoY Change
Total Short-Term Liabilities $12.00M $13.50M $13.50M
YoY Change 29.06% 44.99% 44.99%
LONG-TERM LIABILITIES
Long-Term Debt $32.82M $32.66M $32.66M
YoY Change 2.16% 2.19% 2.19%
Other Long-Term Liabilities $1.862M $1.919M $1.919M
YoY Change -27.86% -37.18% -37.18%
Total Long-Term Liabilities $34.68M $34.58M $34.58M
YoY Change -0.07% -1.24% -1.24%
TOTAL LIABILITIES
Total Short-Term Liabilities $12.00M $13.50M $13.50M
Total Long-Term Liabilities $34.68M $34.58M $34.58M
Total Liabilities $46.68M $48.08M $48.08M
YoY Change 6.08% 8.47% 8.47%
SHAREHOLDERS EQUITY
Retained Earnings -$176.3M -$153.0M
YoY Change 69.92%
Common Stock $388.2M $385.1M
YoY Change 32207.72%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $211.9M $232.1M $232.1M
YoY Change
Total Liabilities & Shareholders Equity $258.6M $280.2M $280.2M
YoY Change 327.19% 284.84% 284.84%

Cashflow Statement

Concept 2022 Q1 2021 Q4 2021
OPERATING ACTIVITIES
Net Income -$23.26M -$15.94M -$62.96M
YoY Change 90.06% 75.02% 81.48%
Depreciation, Depletion And Amortization $200.0K $175.0K $600.0K
YoY Change 100.0% 0.0%
Cash From Operating Activities -$21.97M -$10.72M -$52.54M
YoY Change 70.68% 63.3%
INVESTING ACTIVITIES
Capital Expenditures $227.0K -$157.0K $813.0K
YoY Change 118.27% -14.69%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$227.0K -$157.0K -$813.0K
YoY Change 118.27% -14.69%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 92.00K 91.00K 252.5M
YoY Change -143.81% 244.04%
NET CHANGE
Cash From Operating Activities -21.97M -10.72M -52.54M
Cash From Investing Activities -227.0K -157.0K -813.0K
Cash From Financing Activities 92.00K 91.00K 252.5M
Net Change In Cash -22.10M -10.79M 199.2M
YoY Change 67.64% 394.55%
FREE CASH FLOW
Cash From Operating Activities -$21.97M -$10.72M -$52.54M
Capital Expenditures $227.0K -$157.0K $813.0K
Free Cash Flow -$22.19M -$10.57M -$53.35M
YoY Change 71.06% 61.06%

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PaymentsOfStockIssuanceCostsRelatedToInitialPublicOffering
4506000
CY2020 sght Payments Of Stock Issuance Costs Related To Initial Public Offering
PaymentsOfStockIssuanceCostsRelatedToInitialPublicOffering
42000
CY2021 us-gaap Proceeds From Issuance Of Convertible Preferred Stock
ProceedsFromIssuanceOfConvertiblePreferredStock
0
CY2020 us-gaap Proceeds From Issuance Of Convertible Preferred Stock
ProceedsFromIssuanceOfConvertiblePreferredStock
53075000
CY2021 us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
0
CY2020 us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
20480000
CY2021 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0
CY2020 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
142000
CY2021 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
0
CY2020 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
6000
CY2021 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
355000
CY2020 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
24000
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
252529000
CY2020 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
73401000
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
199176000
CY2020 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
40274000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
61511000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
21237000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
260687000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
61511000
CY2021 us-gaap Interest Paid Net
InterestPaidNet
3105000
CY2020 us-gaap Interest Paid Net
InterestPaidNet
1286000
CY2021 us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
162000
CY2020 us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
41000
CY2021 sght Unpaid Initial Public Offering Costs In Accounts Payable And Accrued Liabilities
UnpaidInitialPublicOfferingCostsInAccountsPayableAndAccruedLiabilities
0
CY2021 sght Common Stock Issued On Conversion Of Convertible Preferred Stock
CommonStockIssuedOnConversionOfConvertiblePreferredStock
117331000
CY2021 sght Common Stock Warrants Issued On Conversion Of Preferred Stock Warrants And The Reclassification Of The Warrant Liability
CommonStockWarrantsIssuedOnConversionOfPreferredStockWarrantsAndTheReclassificationOfTheWarrantLiability
8973000
CY2020 sght Common Stock Warrants Issued On Conversion Of Preferred Stock Warrants And The Reclassification Of The Warrant Liability
CommonStockWarrantsIssuedOnConversionOfPreferredStockWarrantsAndTheReclassificationOfTheWarrantLiability
0
CY2021 us-gaap Nature Of Operations
NatureOfOperations
<p style="margin-left:0.933%;text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.1979166666666667;font-family:Times New Roman;margin-bottom:18.0pt;margin-right:0.537%;text-align:left;"><span style="background-color:rgba(255,255,255,1);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;">Note 1. The Company and Nature of Business</span></p><p style="margin-left:0.933%;text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.1979166666666667;font-family:Times New Roman;margin-bottom:6.0pt;margin-right:0.537%;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(35,31,32,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;font-style:italic;">Description of Business</span></p><p style="margin-left:0.933%;text-indent:3.789%;font-size:10.0pt;margin-top:0.0pt;line-height:1.1979166666666667;font-family:Times New Roman;margin-bottom:12.0pt;margin-right:0.537%;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">Sight Sciences, Inc. (the “Company”) was incorporated in the State of Delaware in 2010. The Company is located and headquartered in Menlo Park, California and has principal commercial offices in Southlake, Texas. The Company is an ophthalmic medical device company focused on the development and commercialization of surgical and nonsurgical technologies for the treatment of prevalent eye diseases. The Company’s Surgical Glaucoma segment's product portfolio features the OMNI® Surgical System, a device that facilitates the performance of both canaloplasty and trabeculotomy with a single device and single corneal incision to reduce intraocular pressure in adult patients with primary open-angle glaucoma. The Company’s Dry Eye segment's product portfolio consists of the TearCare® System ("TearCare") for ophthalmologists and optometrists. TearCare is a wearable eyelid technology that delivers highly targeted and adjustable heat to the meibomian glands of the eyelids in adult patients with evaporative dry eye disease due to meibomian gland disfunction.</span></p><p style="margin-left:0.933%;text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.1979166666666667;font-family:Times New Roman;margin-bottom:6.0pt;margin-right:0.537%;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;font-style:italic;">Initial Public Offering</span></p><p style="margin-left:0.933%;text-indent:3.789%;font-size:10.0pt;margin-top:0.0pt;line-height:1.1979166666666667;font-family:Times New Roman;margin-bottom:12.0pt;margin-right:0.537%;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">In July 2021, the Company completed an initial public offering (“IPO”) of its common stock in which the Company issued and sold </span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">10,000,000</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;"> shares of its common stock, and sold an additional </span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">1,500,000</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;"> shares of common stock upon the full exercise of the underwriters’ option to purchase additional shares of the Company's common stock. These sales occurred at the initial public offering price of $</span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">24.00</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;"> per share. The Company received net proceeds of approximately $</span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">252.2</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;"> million from the IPO, after deducting underwriting discounts and commissions of $</span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">19.3</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;"> million and offering costs of $</span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">4.5</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;"> million, of which $</span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">0.4</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;"> million were incurred as of December 31, 2020.</span></p><p style="margin-left:0.933%;text-indent:3.789%;font-size:10.0pt;margin-top:0.0pt;line-height:1.1979166666666667;font-family:Times New Roman;margin-bottom:12.0pt;margin-right:0.537%;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">Immediately prior to the closing of the IPO, all then-outstanding shares of redeemable convertible preferred stock were converted into </span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">25,534,404</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;"> shares of common stock. Further, all outstanding redeemable convertible preferred stock warrants were converted into warrants to purchase </span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">659,028</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;"> shares of common stock, which resulted in the reclassification of the convertible preferred stock warrant liability to additional paid-in capital.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;"> </span></p><p style="margin-left:0.933%;text-indent:3.789%;font-size:10.0pt;margin-top:0.0pt;line-height:1.1979166666666667;font-family:Times New Roman;margin-bottom:12.0pt;margin-right:0.537%;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">In connection with the Company’s IPO, the Company’s certificate of incorporation was amended and restated to provide for </span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">200,000,000</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;"> authorized shares of common stock with a par value of $</span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">0.001</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;"> per share and </span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">10,000,000</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;"> authorized shares of preferred stock with a par value of $</span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">0.001</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;"> per share.</span></p><p style="margin-left:0.933%;text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.1979166666666667;font-family:Times New Roman;margin-bottom:6.0pt;margin-right:0.537%;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;font-style:italic;">Stock Split</span></p><p style="margin-left:0.933%;text-indent:3.789%;font-size:10.0pt;margin-top:0.0pt;line-height:1.1979166666666667;font-family:Times New Roman;margin-bottom:12.0pt;margin-right:0.537%;text-align:left;"><span style="font-size:10.0pt;font-family:Times New Roman;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">In July 2021, the Company effected a 2-for-1 stock split of its issued and outstanding shares of common stock and a proportional adjustment to the existing conversion ratios for each series of the Company’s redeemable convertible preferred stock.</span></span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;"> Accordingly, all share and per share amounts for all periods presented in the accompanying condensed consolidated financial statements and notes thereto have been adjusted retroactively, where applicable, to reflect this stock split and adjustment of the redeemable convertible preferred stock conversion ratios.</span></p><p style="margin-left:0.933%;text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.1979166666666667;font-family:Times New Roman;margin-bottom:6.0pt;margin-right:0.537%;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(35,31,32,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;font-style:italic;">Significant Risks and Uncertainties</span></p><p style="margin-left:0.933%;text-indent:3.789%;font-size:10.0pt;margin-top:0.0pt;line-height:1.1979166666666667;font-family:Times New Roman;margin-bottom:12.0pt;margin-right:0.537%;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">Since inception, the Company has incurred losses and negative cash flows from operations. As of December 31, 2021, the Company had an accumulated deficit of $</span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">153.0</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;"> million and recorded a net loss of $</span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">63.0</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;"> million for the year then ended and expects to incur future additional losses. If the Company’s revenue levels from its products are not sufficient or if the Company is unable to secure additional funding when desired, the Company may need to delay the development of its products and scale back its business and operations.</span></p><p style="margin-left:0.933%;text-indent:3.789%;font-size:10.0pt;margin-top:0.0pt;line-height:1.1979166666666667;font-family:Times New Roman;margin-bottom:12.0pt;margin-right:0.537%;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">The Company believes that its existing sources of liquidity will satisfy its working capital and capital requirements for at least 12 months from the issuance of its financial statements. Failure to generate sufficient revenues, achieve planned gross margins, or control operating costs will require the Company to raise additional capital through equity or debt financing. Such additional financing may not be available on acceptable terms, or at all, and could require the Company to modify, delay, or abandon some of its planned future expansion or expenditures or reduce some of its ongoing operating</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;"> </span></p><p style="margin-left:0.933%;text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.1979166666666667;font-family:Times New Roman;margin-bottom:12.0pt;margin-right:0.537%;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">costs, which could harm its business, operating results, financial condition, and ability to achieve its intended business objectives.</span></p><p style="margin-left:0.933%;text-indent:3.789%;font-size:10.0pt;margin-top:0.0pt;line-height:1.1979166666666667;font-family:Times New Roman;margin-bottom:12.0pt;margin-right:0.537%;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">The ongoing COVID-19 pandemic has impacted, and is expected to continue to impact, demand for the Company's products, which are used in procedures and therapies that are considered elective. COVID-19 may also, directly or indirectly, have an unfavorable impact on other areas of the Company's business including, but not limited to, supply chain, sales, third party manufacturing, research and development costs and clinical studies. The full effect of the COVID-19 pandemic on the Company's financial condition and results of operations remain highly uncertain and cannot be predicted with confidence, and will depend on certain developments, including the duration and severity of the COVID-19 pandemic and its potential variants. The impact on the Company's customers and suppliers and the range of governmental and community reactions to the pandemic are uncertain. The Company may continue to experience reduced customer demand or constrained supply that could materially adversely impact business, financial condition, results of operations, liquidity and cash flows in future periods.</span></p>
CY2021Q3 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
252200000
CY2021Q3 us-gaap Stock Issued During Period Shares Conversion Of Convertible Securities
StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities
25534404
CY2021Q3 us-gaap Stockholders Equity Note Stock Split
StockholdersEquityNoteStockSplit
In July 2021, the Company effected a 2-for-1 stock split of its issued and outstanding shares of common stock and a proportional adjustment to the existing conversion ratios for each series of the Company’s redeemable convertible preferred stock.
CY2021Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-153000000.0
CY2021 us-gaap Net Income Loss
NetIncomeLoss
-63000000.0
CY2021 us-gaap Use Of Estimates
UseOfEstimates
<p style="margin-left:0.933%;text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.1979166666666667;font-family:Times New Roman;margin-bottom:6.0pt;margin-right:0.537%;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(35,31,32,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;font-style:italic;">Use of Estimates</span></p><p style="margin-left:0.933%;text-indent:3.789%;font-size:10.0pt;margin-top:0.0pt;line-height:1.1979166666666667;font-family:Times New Roman;margin-bottom:12.0pt;margin-right:0.537%;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(35,31,32,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent liabilities at the date of the financial statements, and the reported amounts of revenues and expense during the reporting period. The most significant estimates related to inventory excess and obsolescence, the selection of useful lives of property and equipment, determination of the fair value of stock option grants, the fair value of the redeemable convertible preferred stock warrants, and provisions for income taxes and contingencies. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment, and makes adjustments when facts and circumstances dictate. These estimates are based on information available as of the date of the financial statements. Actual results could differ from these estimates and such differences could be material to the Company’s financial position and results of operations.</span></p>
CY2020Q4 us-gaap Deferred Offering Costs
DeferredOfferingCosts
400000
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
600000
CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
300000
CY2021 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
CY2020 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
CY2021 us-gaap Revenue Recognition Deferred Revenue
RevenueRecognitionDeferredRevenue
<p style="margin-left:0.933%;text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.1979166666666667;font-family:Times New Roman;margin-bottom:6.0pt;margin-right:0.537%;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(35,31,32,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;font-style:italic;">Revenue Recognition</span></p><p style="margin-left:0.933%;text-indent:3.789%;font-size:10.0pt;margin-top:0.0pt;line-height:1.1979166666666667;font-family:Times New Roman;margin-bottom:6.0pt;margin-right:0.537%;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(35,31,32,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">The Company applies the following five steps in order to determine the appropriate amount of revenue to be recognized as it fulfills its obligations under each of its arrangements:</span></p><div style="margin-left:5.602%;display:flex;margin-top:0.0pt;line-height:1.1979166666666667;justify-content:flex-start;align-items:baseline;margin-bottom:6.0pt;margin-right:6.667%;min-width:2.796%;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(35,31,32,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;display:inline-flex;font-size:10.0pt;font-family:Times New Roman;justify-content:flex-start;min-width:2.9619271594737175%;">•</span><div style="display:inline;"><span style="background-color:rgba(0,0,0,0);color:rgba(35,31,32,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">Identify the contract with a customer,</span></div></div><div style="margin-left:5.602%;display:flex;margin-top:0.0pt;line-height:1.1979166666666667;justify-content:flex-start;align-items:baseline;margin-bottom:6.0pt;margin-right:6.667%;min-width:2.796%;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(35,31,32,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;display:inline-flex;font-size:10.0pt;font-family:Times New Roman;justify-content:flex-start;min-width:2.9619271594737175%;">•</span><div style="display:inline;"><span style="background-color:rgba(0,0,0,0);color:rgba(35,31,32,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">Identify the performance obligations in the contract,</span></div></div><div style="margin-left:5.602%;display:flex;margin-top:0.0pt;line-height:1.1979166666666667;justify-content:flex-start;align-items:baseline;margin-bottom:6.0pt;margin-right:6.667%;min-width:2.796%;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(35,31,32,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;display:inline-flex;font-size:10.0pt;font-family:Times New Roman;justify-content:flex-start;min-width:2.9619271594737175%;">•</span><div style="display:inline;"><span style="background-color:rgba(0,0,0,0);color:rgba(35,31,32,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">Determine the transaction price,</span></div></div><div style="margin-left:5.602%;display:flex;margin-top:0.0pt;line-height:1.1979166666666667;justify-content:flex-start;align-items:baseline;margin-bottom:6.0pt;margin-right:6.667%;min-width:2.796%;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(35,31,32,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;display:inline-flex;font-size:10.0pt;font-family:Times New Roman;justify-content:flex-start;min-width:2.9619271594737175%;">•</span><div style="display:inline;"><span style="background-color:rgba(0,0,0,0);color:rgba(35,31,32,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">Allocate the transaction price to performance obligations in the contract, and</span></div></div><div style="margin-left:5.602%;display:flex;margin-top:0.0pt;line-height:1.1979166666666667;justify-content:flex-start;align-items:baseline;margin-bottom:6.0pt;margin-right:6.667%;min-width:2.796%;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(35,31,32,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;display:inline-flex;font-size:10.0pt;font-family:Times New Roman;justify-content:flex-start;min-width:2.9619271594737175%;">•</span><div style="display:inline;"><span style="background-color:rgba(0,0,0,0);color:rgba(35,31,32,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">Recognize revenue as the performance obligations are satisfied.</span></div></div><p style="margin-left:0.933%;text-indent:3.789%;font-size:10.0pt;margin-top:0.0pt;line-height:1.1979166666666667;font-family:Times New Roman;margin-bottom:12.0pt;margin-right:0.537%;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(35,31,32,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">Revenue recognized during the years ended December 31, 2021 and 2020 relates entirely to the sale of the Company’s products within the Surgical Glaucoma and Dry Eye segments. These sales are primarily to hospitals, medical centers, and ECPs throughout the United States through sales representatives and distributors.</span><span style="color:rgba(35,31,32,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;"> </span></p><p style="margin-left:0.933%;text-indent:3.789%;font-size:10.0pt;margin-top:0.0pt;line-height:1.1979166666666667;font-family:Times New Roman;margin-bottom:12.0pt;margin-right:0.537%;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(35,31,32,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">The Company’s revenue arrangements consist of a single performance obligation. Revenue is recognized at the point in time when control of the promised goods transfer to the Company’s customers. Revenue is measured at the amount of consideration expected to be received in exchange for the transfer of goods. The amount of revenue that is recognized is based on the transaction price, which represented the invoiced amounts and includes estimates of variable consideration, such as discounted, where applicable. The Company does not offer right of return, except in the case where items are defective as manufactured, and the company does not typically provide customers with a right to a refund. The amount of variable consideration included in the transaction price may be constrained and is included only to the extent that it is probable that a significant reversal in the amount of the cumulative revenue recognized under the contract will not occur in a future period. Payment terms, typically 30 days, are offered to customers and do not include a significant financing component. The Company extends credit to customers based upon their financial condition and credit history and generally require no collateral. The Company does not have any contract balances related to product sales.</span><span style="color:rgba(35,31,32,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;"> </span></p><p style="margin-left:0.933%;text-indent:3.789%;font-size:10.0pt;margin-top:0.0pt;line-height:1.1979166666666667;font-family:Times New Roman;margin-bottom:12.0pt;margin-right:0.537%;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(35,31,32,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">Shipping and handling costs incurred for the delivery of goods to customers are included in cost of goods sold. In cases where the Company bills shipping and handling cost to customers, the Company classifies those amounts in net revenue. As a practical expedient, the Company recognizes the incremental costs of obtaining contracts, such as sales commissions, as an expense when incurred since the amortization period of the asset we otherwise would have recognized is one year or less. Sales commissions are recorded within selling, general, and administrative expenses in the statements of operations.</span></p>
CY2021 us-gaap Advertising Expense
AdvertisingExpense
2100000
CY2020 us-gaap Advertising Expense
AdvertisingExpense
800000
CY2020 sght Reduction In Cost Of Revenue
ReductionInCostOfRevenue
100000
CY2020 sght Amount Covered By Goverment Grant
AmountCoveredByGovermentGrant
300000
CY2020 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1800000
CY2021Q4 us-gaap Financial Liabilities Fair Value Disclosure
FinancialLiabilitiesFairValueDisclosure
0
CY2020Q4 us-gaap Financial Liabilities Fair Value Disclosure
FinancialLiabilitiesFairValueDisclosure
32000000.0
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
2658000
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
2012000
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1204000
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
743000
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1454000
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1269000
CY2021 us-gaap Depreciation
Depreciation
600000
CY2020 us-gaap Depreciation
Depreciation
600000
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
2726000
CY2020Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
1971000
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
510000
CY2020Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
395000
CY2021Q4 us-gaap Interest Payable Current
InterestPayableCurrent
275000
CY2020Q4 us-gaap Interest Payable Current
InterestPayableCurrent
274000
CY2021Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
655000
CY2020Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
446000
CY2021Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
4166000
CY2020Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
3086000
CY2021Q4 sght Redeemable Preferred Stock Warrants Liabilities Non Current
RedeemablePreferredStockWarrantsLiabilitiesNonCurrent
0
CY2020Q4 sght Redeemable Preferred Stock Warrants Liabilities Non Current
RedeemablePreferredStockWarrantsLiabilitiesNonCurrent
2112000
CY2021Q4 sght Interest Payable Non Current
InterestPayableNonCurrent
841000
CY2020Q4 sght Interest Payable Non Current
InterestPayableNonCurrent
465000
CY2021Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1040000
CY2020Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
134000
CY2021Q4 sght Other Non Current Liabilities
OtherNonCurrentLiabilities
38000
CY2020Q4 sght Other Non Current Liabilities
OtherNonCurrentLiabilities
344000
CY2021Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
1919000
CY2020Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
3055000
CY2021Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
35000000
CY2020Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
35000000
CY2021Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
2344000
CY2020Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
3045000
CY2021Q4 us-gaap Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
32656000
CY2020Q4 us-gaap Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
31955000
CY2021Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
0
CY2020Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
0
CY2021Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
32656000
CY2020Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
31955000
CY2021Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
0
CY2021Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
1458000
CY2021Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
17500000
CY2021Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
16042000
CY2021Q4 us-gaap Long Term Debt
LongTermDebt
35000000
CY2021Q4 us-gaap Area Of Land
AreaOfLand
10823
CY2021 us-gaap Lease Expiration Date1
LeaseExpirationDate1
2021-07-31
CY2021Q1 sght Lease Commencement Date
LeaseCommencementDate
2021-08-01
CY2021Q1 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P37M
CY2021Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1500000
CY2021Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.1359
CY2021Q1 sght Total Base Rent Under Lease Agreement
TotalBaseRentUnderLeaseAgreement
1600000
CY2021 us-gaap Operating Lease Expense
OperatingLeaseExpense
700000
CY2020 us-gaap Operating Lease Expense
OperatingLeaseExpense
700000
CY2021Q4 us-gaap Lessee Operating Lease Remaining Lease Term
LesseeOperatingLeaseRemainingLeaseTerm
P2Y7M6D
CY2021 us-gaap Operating Lease Expense
OperatingLeaseExpense
702000
CY2020 us-gaap Operating Lease Expense
OperatingLeaseExpense
663000
CY2021 us-gaap Operating Lease Payments
OperatingLeasePayments
657000
CY2020 us-gaap Operating Lease Payments
OperatingLeasePayments
694000
CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1537000
CY2020 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0
CY2021 us-gaap Reclassifications Of Temporary To Permanent Equity
ReclassificationsOfTemporaryToPermanentEquity
117300000
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.94
CY2020 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y9M18D
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
693000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
706000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
462000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1861000
CY2021Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
311000
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
1550000
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
510000
CY2021Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1040000
CY2021 us-gaap Stock Issued During Period Shares Conversion Of Convertible Securities
StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities
25534404
CY2021 us-gaap Dividends Common Stock
DividendsCommonStock
0
CY2021 sght Common Stock Vote For Each Share
CommonStockVoteForEachShare
1
CY2021Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
11221882
CY2020Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
29782878
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3137776
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
18656000
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
2487253
CY2021 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
11.35
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
150520
CY2021 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
3.77
CY2021 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
477564
CY2021 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0.78
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
4996945
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
6.05
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y7M6D
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
58420000
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
2098249
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
2.22
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P5Y7M6D
CY2021Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
32268000
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
4963575
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
6.09
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P7Y7M6D
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
57895000
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
11.35
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
2.90
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
7300000
CY2021Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
23300000
CY2021 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P3Y3M14D
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2021 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5083000
CY2020 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
497000
CY2021 us-gaap Net Income Loss
NetIncomeLoss
-62960000
CY2020 us-gaap Net Income Loss
NetIncomeLoss
-34693000
CY2021 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
26734097
CY2020 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
9356218
CY2021 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-2.36
CY2020 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-3.71
CY2021 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5050195
CY2020 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
16234492
CY2020 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
6000
CY2021 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
16000
CY2021 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
172000
CY2020 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
41000
CY2021 sght Income Tax Expense Benefit1
IncomeTaxExpenseBenefit1
188000
CY2020 sght Income Tax Expense Benefit1
IncomeTaxExpenseBenefit1
47000
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
35186000
CY2020Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
22208000
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Employee Compensation
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsEmployeeCompensation
1812000
CY2020Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Employee Compensation
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsEmployeeCompensation
899000
CY2021Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
1497000
CY2020Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
1071000
CY2021Q4 sght Deferred Tax Assets Operating Lease Liability
DeferredTaxAssetsOperatingLeaseLiability
405000
CY2020Q4 sght Deferred Tax Assets Operating Lease Liability
DeferredTaxAssetsOperatingLeaseLiability
138000
CY2021Q4 us-gaap Bad Debt Reserve For Tax Purposes Of Qualified Lender
BadDebtReserveForTaxPurposesOfQualifiedLender
163000
CY2020Q4 us-gaap Bad Debt Reserve For Tax Purposes Of Qualified Lender
BadDebtReserveForTaxPurposesOfQualifiedLender
75000
CY2021Q4 us-gaap Deferred Tax Assets Inventory
DeferredTaxAssetsInventory
28000
CY2020Q4 us-gaap Deferred Tax Assets Inventory
DeferredTaxAssetsInventory
282000
CY2021Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
104000
CY2020Q4 us-gaap Deferred Tax Assets Other
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CY2021Q4 us-gaap Deferred Tax Assets Gross
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CY2020Q4 us-gaap Deferred Tax Assets Gross
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24692000
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
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CY2020Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
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CY2021Q4 us-gaap Deferred Tax Assets Net
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391000
CY2020Q4 us-gaap Deferred Tax Assets Net
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CY2021Q4 sght Deferred Tax Liabilities Operating Lease Right Of Use Assets
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-391000
CY2020Q4 sght Deferred Tax Liabilities Operating Lease Right Of Use Assets
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CY2020Q4 sght Deferred Tax Liabilities Fixed Assets
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CY2021Q4 us-gaap Deferred Income Tax Liabilities
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CY2020Q4 us-gaap Deferred Income Tax Liabilities
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CY2021Q4 us-gaap Deferred Tax Liabilities
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0
CY2020Q4 us-gaap Deferred Tax Liabilities
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CY2020 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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CY2020 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Other Reconciling Items Percent
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CY2021 us-gaap Effective Income Tax Rate Continuing Operations
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0
CY2020 us-gaap Effective Income Tax Rate Continuing Operations
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CY2021 us-gaap Unrecognized Tax Benefits Increases Resulting From Acquisition
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CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2020 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2021 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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0.05
CY2020 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.05
CY2021 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
0.01
CY2020 us-gaap Unrecognized Tax Benefits Increases Resulting From Acquisition
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400000
CY2020Q4 us-gaap Unrecognized Tax Benefits
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417000
CY2019Q4 us-gaap Unrecognized Tax Benefits
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304000
CY2021 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
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163000
CY2020 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
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113000
CY2021 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
0
CY2020 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
0
CY2021Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
580000
CY2020Q4 us-gaap Unrecognized Tax Benefits
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417000
CY2021 us-gaap Number Of Reportable Segments
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2
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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48956000
CY2020 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
27640000
CY2021 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
8610000
CY2020 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
9209000
CY2021 us-gaap Gross Profit
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40346000
CY2020 us-gaap Gross Profit
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CY2021 us-gaap Operating Expenses
OperatingExpenses
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CY2020 us-gaap Operating Expenses
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50619000
CY2021 us-gaap Operating Income Loss
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CY2020 us-gaap Operating Income Loss
OperatingIncomeLoss
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CY2020 us-gaap Interest Income Operating
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30000
CY2021 us-gaap Interest Expense
InterestExpense
4366000
CY2020 us-gaap Interest Expense
InterestExpense
2403000
CY2021 us-gaap Other Nonoperating Income Expense
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CY2020 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-62772000
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-34632000

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