$SGHT
Sight Sciences, Inc.

2024 Q1 Form 10-K Financial Statement

#000095017024030278 Filed on March 13, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $19.27M $18.75M $81.06M
YoY Change 2.34% -8.72% 13.63%
Cost Of Revenue $2.793M $2.776M $11.88M
YoY Change -8.37% -24.26% -3.88%
Gross Profit $16.47M $15.98M $69.18M
YoY Change 4.41% -5.35% 17.31%
Gross Profit Margin 85.5% 85.2% 85.34%
Selling, General & Admin $26.56M $23.66M $108.9M
YoY Change -7.38% -17.56% -9.3%
% of Gross Profit 161.24% 148.09% 157.42%
Research & Development $4.636M $3.427M $17.56M
YoY Change -0.71% -34.51% -23.2%
% of Gross Profit 28.14% 21.45% 25.38%
Depreciation & Amortization $192.0K $159.0K $614.0K
YoY Change 92.0% 3.92% -12.29%
% of Gross Profit 1.17% 1.0% 0.89%
Operating Expenses $31.20M $27.09M $126.4M
YoY Change -6.44% -20.18% -11.53%
Operating Profit -$14.72M -$11.11M -$57.27M
YoY Change -16.19% -34.85% -31.78%
Interest Expense $1.204M -$1.351M -$5.408M
YoY Change -5.64% 10.47% -221.09%
% of Operating Profit
Other Income/Expense, Net -$8.000K $1.780M $7.245M
YoY Change -100.45% 29.08% 225.62%
Pretax Income -$16.25M -$10.68M -$55.44M
YoY Change -4.71% -36.79% -35.68%
Income Tax $17.00K $10.00K $110.0K
% Of Pretax Income
Net Earnings -$16.27M -$10.69M -$55.55M
YoY Change -4.69% -36.77% -35.59%
Net Earnings / Revenue -84.43% -57.02% -68.53%
Basic Earnings Per Share -$0.33 -$1.14
Diluted Earnings Per Share -$0.33 -$0.22 -$1.14
COMMON SHARES
Basic Shares Outstanding 49.55M 48.75M 48.63M
Diluted Shares Outstanding 49.49M 48.63M

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $127.3M $138.1M $138.1M
YoY Change -23.93% -25.34% -25.34%
Cash & Equivalents $127.3M $138.1M $138.1M
Short-Term Investments
Other Short-Term Assets $2.291M $2.604M $2.604M
YoY Change -18.82% -23.75% -23.75%
Inventory $6.871M $7.849M $7.849M
Prepaid Expenses
Receivables $15.64M $14.29M $14.29M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $152.1M $162.9M $162.9M
YoY Change -21.46% -22.32% -22.32%
LONG-TERM ASSETS
Property, Plant & Equipment $1.550M $3.098M $3.098M
YoY Change 11.27% 97.2% -2.73%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $624.0K $682.0K $682.0K
YoY Change 178.57% 223.22% 223.22%
Total Long-Term Assets $3.471M $3.780M $3.780M
YoY Change 16.13% 11.31% 11.31%
TOTAL ASSETS
Total Short-Term Assets $152.1M $162.9M $162.9M
Total Long-Term Assets $3.471M $3.780M $3.780M
Total Assets $155.6M $166.7M $166.7M
YoY Change -20.89% -21.79% -21.79%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.666M $1.731M $1.731M
YoY Change -52.41% -35.6% -35.6%
Accrued Expenses $3.570M $8.302M $8.302M
YoY Change -18.14% 56.43% -45.13%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $2.219M $2.219M
YoY Change
Total Short-Term Liabilities $11.69M $12.25M $12.25M
YoY Change -22.79% -31.23% -31.23%
LONG-TERM LIABILITIES
Long-Term Debt $33.70M $31.71M $31.71M
YoY Change 0.72% -4.82% -4.82%
Other Long-Term Liabilities $961.0K $2.476M $2.476M
YoY Change -42.21% 32.62% 32.62%
Total Long-Term Liabilities $34.66M $34.18M $34.18M
YoY Change -1.32% -2.83% -2.83%
TOTAL LIABILITIES
Total Short-Term Liabilities $11.69M $12.25M $12.25M
Total Long-Term Liabilities $34.66M $34.18M $34.18M
Total Liabilities $46.35M $46.44M $46.44M
YoY Change -7.79% -12.38% -12.38%
SHAREHOLDERS EQUITY
Retained Earnings -$311.1M -$294.8M
YoY Change 21.38% 23.24%
Common Stock $420.3M $415.0M
YoY Change 4.37% 3.93%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $109.2M $120.2M $120.2M
YoY Change
Total Liabilities & Shareholders Equity $155.6M $166.7M $166.7M
YoY Change -20.89% -21.79% -21.79%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$16.27M -$10.69M -$55.55M
YoY Change -4.69% -36.77% -35.59%
Depreciation, Depletion And Amortization $192.0K $159.0K $614.0K
YoY Change 92.0% 3.92% -12.29%
Cash From Operating Activities -$9.786M -$6.484M -$47.18M
YoY Change -43.7% -58.17% -37.89%
INVESTING ACTIVITIES
Capital Expenditures $117.0K $264.0K $791.0K
YoY Change -7.14% 104.65% -18.45%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$117.0K -$264.0K -$791.0K
YoY Change -7.14% 104.65% -18.45%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $1.328M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -942.0K 376.0K 1.104M
YoY Change 503.85% -53.69% -11.54%
NET CHANGE
Cash From Operating Activities -9.786M -6.484M -47.18M
Cash From Investing Activities -117.0K -264.0K -791.0K
Cash From Financing Activities -942.0K 376.0K 1.104M
Net Change In Cash -10.85M -6.372M -46.87M
YoY Change -38.61% -57.0% -38.07%
FREE CASH FLOW
Cash From Operating Activities -$9.786M -$6.484M -$47.18M
Capital Expenditures $117.0K $264.0K $791.0K
Free Cash Flow -$9.903M -$6.748M -$47.98M
YoY Change -43.44% -56.83% -37.64%

Facts In Submission

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791000
CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
970000
CY2023 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-791000
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-970000
CY2023 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
395000
CY2022 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
576000
CY2023 sght Taxes Paid On The Net Share Settlement Of Restricted Stock Units
TaxesPaidOnTheNetShareSettlementOfRestrictedStockUnits
-224000
CY2022 sght Taxes Paid On The Net Share Settlement Of Restricted Stock Units
TaxesPaidOnTheNetShareSettlementOfRestrictedStockUnits
0
CY2023 sght Proceeds From Employee Stock Purchase Plan Purchases
ProceedsFromEmployeeStockPurchasePlanPurchases
933000
CY2022 sght Proceeds From Employee Stock Purchase Plan Purchases
ProceedsFromEmployeeStockPurchasePlanPurchases
672000
CY2023 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1104000
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1248000
CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-46871000
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-75687000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
185000000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
260687000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
138129000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
185000000
CY2023 us-gaap Interest Paid Net
InterestPaidNet
4267000
CY2022 us-gaap Interest Paid Net
InterestPaidNet
3252000
CY2023 us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
60000
CY2022 us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
103000
CY2023 us-gaap Nature Of Operations
NatureOfOperations
<p style="margin-left:0.933%;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:18pt;margin-right:0.537%;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Note 1. The Company and Nature of Business</span></p><p style="margin-left:0.933%;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:6pt;margin-right:0.537%;text-align:left;"><span style="color:#231f20;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Description of Business</span></p><p style="margin-left:0.933%;text-indent:3.789%;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:12pt;margin-right:0.537%;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Sight Sciences, Inc. (the “Company”) was incorporated in the State of Delaware in 2010 and is headquartered in Menlo Park, California. 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.</span></p><p style="margin-left:0.933%;text-indent:3.789%;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:12pt;margin-right:0.537%;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The Company's product portfolio aligns with its two reportable operating segments: Surgical Glaucoma and Dry Eye. The products for the Surgical Glaucoma segment include the OMNI® Surgical System ("OMNI"), which is an implant-free glaucoma surgery technology indicated to reduce intraocular pressure in adult patients with primary open-angle glaucoma, the world's leading cause of irreversible blindness, and the SION® Surgical Instrument ("SION"), a manually operated device used in ophthalmic surgical procedures to excise trabecular meshwork. The product portfolio for the Dry Eye segment consists of the TearCare® System ("TearCare") for ophthalmologists and optometrists. TearCare is a wearable eyelid technology for adult patients with evaporative dry eye disease due to meibomian gland dysfunction (MGD) when used in conjunction with manual expression of the meibomian glands, enabling clearance of gland obstructions by physicians to address the leading cause of dry eye disease.</span></p><p style="margin-left:0.933%;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:6pt;margin-right:0.537%;text-align:left;"><span style="color:#231f20;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Significant Risks and Uncertainties</span></p><p style="margin-left:0.933%;text-indent:3.789%;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:12pt;margin-right:0.537%;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Since inception, the Company has incurred losses and negative cash flows from operations. As of December 31, 2023, the Company had an accumulated deficit of $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">294.8</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million and recorded a net loss of $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">55.5</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million for the year then ended and expects to incur additional losses in the future. 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, scale back its business and operations, or change its business strategy.</span></p><p style="margin-left:0.933%;text-indent:3.789%;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:12pt;margin-right:0.537%;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">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. Any failure to generate increased revenue, achieve improved gross margins, or control operating costs could 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 costs, which could harm its business, operating results, financial condition, and ability to achieve its intended business objectives.</span></p>
CY2023Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-294800000
CY2023 us-gaap Net Income Loss
NetIncomeLoss
-55500000
CY2023 us-gaap Use Of Estimates
UseOfEstimates
<p style="margin-left:0.933%;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:6pt;margin-right:0.537%;text-align:left;"><span style="color:#231f20;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Use of Estimates</span></p><p style="margin-left:0.933%;text-indent:3.789%;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:12pt;margin-right:0.537%;text-align:left;"><span style="color:#231f20;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">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 the provision for credit losses, inventory excess and obsolescence, the selection of useful lives of property and equipment, determination of the fair value of stock option grants, 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>
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
1200000
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
1000000
CY2023Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
7300000
CY2023Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
1000000
CY2022Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
5800000
CY2022Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
400000
CY2023Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
500000
CY2022Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
100000
CY2023 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
CY2022 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
CY2023Q4 us-gaap Lessor Operating Lease Term Of Contract
LessorOperatingLeaseTermOfContract
P12M
CY2023 us-gaap Revenue Recognition Deferred Revenue
RevenueRecognitionDeferredRevenue
<p style="margin-left:0.933%;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:6pt;margin-right:0.537%;text-align:left;"><span style="color:#231f20;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Revenue Recognition</span></p><p style="margin-left:0.933%;text-indent:3.789%;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:6pt;margin-right:0.537%;text-align:left;"><span style="color:#231f20;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">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;justify-content:flex-start;align-items:baseline;margin-bottom:6pt;margin-right:6.667%;min-width:2.796%;text-align:left;"><span style="color:#231f20;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:2.9619271594737175%;display:inline-flex;justify-content:flex-start;">•</span><div style="width:100%;display:inline;"><span style="color:#231f20;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Identify the contract with a customer,</span></div></div><div style="margin-left:5.602%;display:flex;margin-top:0;justify-content:flex-start;align-items:baseline;margin-bottom:6pt;margin-right:6.667%;min-width:2.796%;text-align:left;"><span style="color:#231f20;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:2.9619271594737175%;display:inline-flex;justify-content:flex-start;">•</span><div style="width:100%;display:inline;"><span style="color:#231f20;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Identify the performance obligations in the contract,</span></div></div><div style="margin-left:5.602%;display:flex;margin-top:0;justify-content:flex-start;align-items:baseline;margin-bottom:6pt;margin-right:6.667%;min-width:2.796%;text-align:left;"><span style="color:#231f20;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:2.9619271594737175%;display:inline-flex;justify-content:flex-start;">•</span><div style="width:100%;display:inline;"><span style="color:#231f20;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Determine the transaction price,</span></div></div><div style="margin-left:5.602%;display:flex;margin-top:0;justify-content:flex-start;align-items:baseline;margin-bottom:6pt;margin-right:6.667%;min-width:2.796%;text-align:left;"><span style="color:#231f20;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:2.9619271594737175%;display:inline-flex;justify-content:flex-start;">•</span><div style="width:100%;display:inline;"><span style="color:#231f20;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">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;justify-content:flex-start;align-items:baseline;margin-bottom:6pt;margin-right:6.667%;min-width:2.796%;text-align:left;"><span style="color:#231f20;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:2.9619271594737175%;display:inline-flex;justify-content:flex-start;">•</span><div style="width:100%;display:inline;"><span style="color:#231f20;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Recognize revenue as the performance obligations are satisfied.</span></div></div><p style="margin-left:0.933%;text-indent:3.789%;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:12pt;margin-right:0.537%;text-align:left;"><span style="color:#231f20;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Revenue recognized during the years ended December 31, 2023 and 2022 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 eyecare professionals ("ECPs") throughout the United States. Sales are generally made through sales representatives and distributors.</span><span style="color:#231f20;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="margin-left:0.933%;text-indent:3.789%;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:12pt;margin-right:0.537%;text-align:left;"><span style="color:#231f20;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">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 discounts, 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:#231f20;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="margin-left:0.933%;text-indent:3.789%;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:12pt;margin-right:0.537%;text-align:left;"><span style="color:#231f20;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">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 consolidated statements of operations and comprehensive loss.</span></p>
CY2023 us-gaap Advertising Expense
AdvertisingExpense
2100000
CY2022 us-gaap Advertising Expense
AdvertisingExpense
2600000
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3267000
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3005000
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1627000
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1434000
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1640000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1571000
CY2023 us-gaap Depreciation
Depreciation
600000
CY2022 us-gaap Depreciation
Depreciation
700000
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
1639000
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
5307000
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
573000
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1033000
CY2023Q4 us-gaap Interest Payable Current
InterestPayableCurrent
375000
CY2022Q4 us-gaap Interest Payable Current
InterestPayableCurrent
348000
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1187000
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1087000
CY2023Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
3774000
CY2022Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
7775000
CY2023Q4 sght Interest Payable Non Current
InterestPayableNonCurrent
1524000
CY2022Q4 sght Interest Payable Non Current
InterestPayableNonCurrent
1194000
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
914000
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
635000
CY2023Q4 sght Other Non Current Liabilities
OtherNonCurrentLiabilities
38000
CY2022Q4 sght Other Non Current Liabilities
OtherNonCurrentLiabilities
38000
CY2023Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
2476000
CY2022Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
1867000
CY2023Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
35000000
CY2022Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
35000000
CY2023Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
1073000
CY2022Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
1687000
CY2023Q4 us-gaap Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
33927000
CY2022Q4 us-gaap Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
33313000
CY2023Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
2219000
CY2022Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
0
CY2023Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
31708000
CY2022Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
33313000
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
2917000
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
32083000
CY2023Q4 sght Long Term Debt Maturity After Year Three
LongTermDebtMaturityAfterYearThree
0
CY2023Q4 us-gaap Long Term Debt
LongTermDebt
35000000
CY2023 us-gaap Operating Lease Expense
OperatingLeaseExpense
1200000
CY2022 us-gaap Operating Lease Expense
OperatingLeaseExpense
700000
CY2023Q4 us-gaap Lessee Operating Lease Remaining Lease Term
LesseeOperatingLeaseRemainingLeaseTerm
P2Y6M
CY2023 us-gaap Operating Lease Expense
OperatingLeaseExpense
1157000
CY2022 us-gaap Operating Lease Expense
OperatingLeaseExpense
732000
CY2023 us-gaap Operating Lease Payments
OperatingLeasePayments
1158000
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
731000
CY2023 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
849000
CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
660000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
700000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
548000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
468000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1716000
CY2023Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
229000
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
1487000
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
573000
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
914000
CY2023 us-gaap Dividends Common Stock
DividendsCommonStock
0
CY2023 sght Common Stock Vote For Each Share
CommonStockVoteForEachShare
1
CY2023Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
15222954
CY2022Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
13159736
CY2023 us-gaap Sale Of Stock Description Of Transaction
SaleOfStockDescriptionOfTransaction
lesser of (i) 5% of the aggregate number of shares of common stock outstanding on the final day of the immediately preceding calendar year and (ii) such smaller number of shares of common stock as determined by the Board, subject to certain limitations.
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
4819906
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
9.67
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y8M12D
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
19463000
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1360308
CY2023 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
6.37
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
829897
CY2023 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
12.18
CY2023 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
370127
CY2023 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
1.03
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
4980190
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
9
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
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