Sight Sciences Takes a Hit: Revenue Outlook Falls Short
- September 11th, 2023
- 451 views
Shares of Sight Sciences, Inc. (Nasdaq: SGHT) took a sharp nosedive in after-hours trading, plummeting over 15%. This drastic drop followed the company's announcement that its third-quarter 2023 total revenue is expected to be in the range of $19.0 million to $20.0 million, significantly below the consensus estimate of $23.72 million.
Adding to the concerns, Sight Sciences also revised its full-year 2023 revenue guidance downward, now anticipating revenue in the range of $80.0 million to $82.0 million. This adjustment marked a notable decrease from the previous guidance range of $89.0 million to $94.0 million, with the consensus estimate standing at $92.12 million for the period.
In the extended session, $SGHT was trading at $5.13, reflecting a substantial decrease of $1.38 (-21.20%).
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