Sight Sciences reaffirms $89-94M 2023 revenue guidance; Palmetto proposes LCD deeming OMNI investigational

Sight Sciences, Inc.

Reaffirmed FY 2023 revenue guidance of $89-94M (25-32% YoY growth) and average quarterly adjusted opex of ~$30.5M.
Palmetto GBA published proposed LCD on June 8 classifying non-implantable MIGS (including OMNI) as investigational; open meeting July 17.
Palmetto and WPS (proposed LCD June 1) states accounted for ~23% of 2022 Surgical Glaucoma revenue.
NGS plans to publish proposed LCD on June 22 with open meeting July 13; five MACs covering 63% of revenue have discussed.
Company says even if LCDs are finalized, no material impact on 2023 revenue due to 180-day implementation period.

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