What Sight Sciences, Inc. told the SEC could break it.

Substantially all revenue-generating products (OMNI, SION, TearCare SmartLids) are produced and assembled by a single Taiwan-based manufacturer in China, with many components from single-source suppliers and no internal manufacturing capability.

“Specifically, most of our OMNI and SION products, as well as our TearCare SmartLids, are currently produced and assembled by a single Taiwan-based manufacturer in China. These commercial products comprise substantially all of our current revenue.”

The Company's Hercules Loan Agreement is secured by a lien on substantially all assets and carries financial covenants and warrant obligations; interest expense was $5.1 million in 2025 for this pre-profit medical-device company.

“Our obligations under the Hercules Loan Agreement are collateralized by a security interest in substantially all of our assets. The Hercules Loan Agreement contains customary representations and warranties, affirmative covenants, negative covenants, financial covenants, events of default and other provisions and conditions.”

Because the vast majority of products are manufactured in China, U.S. tariffs on Chinese imports negatively impacted 2025 gross margins and could worsen if trade disputes escalate; the company is shifting some production out of China in 2026.

“The United States tariffs on imports from China had a negative impact on our gross margins in 2025, as the vast majority of our products were manufactured by third parties with manufacturing facilities located in China.”