Sight Sciences tumbles on lowering annual revenue forecast

Sight Sciences

12/09/2023 10:08

** Shares of eyecare technology co Sight Sciences  SGHT.O 
fall about 30% to $4.56 premarket
    ** Co now expects FY23 revenue in the range of $80 mln to
$82 mln; down from previous range of $89 mln to $94 mln
    ** Analysts on an average see FY23 revenue of $90.5 mln
    ** Co expects Q3 total revenue to be between $19 mln to $20
mln; below market view of $22.9 mln
    ** Co faces reductions in new account additions and expects
revenue from its Dry Eye segment to be slightly down
sequentially
    ** Two of seven brokerages rate the stock "strong buy", five
"hold"; their median PT is $8.40
    ** Up to Monday's close, stock had fallen 46.7% YTD

 (Reporting by Khushi Singh)
 ((Khushi.Singh@thomsonreuters.com;))