Sight Sciences (SGHT) 10-K 24 Mar 22 2021 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2021	Mar. 18, 2022	Jun. 30, 2021
Cover [Abstract]
Document Type	10-K
Document Period End Date	Dec. 31, 2021
Amendment Flag	false
Trading Symbol	SGHT
Entity Registrant Name	SIGHT SCIENCES, INC.
Entity Central Index Key	0001531177
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Shell Company	false
Entity Ex Transition Period	false
Document Fiscal Period Focus	FY
Entity Public Float			$ 0
Entity Common Stock, Shares Outstanding		47,586,682
ICFR Auditor Attestation Flag	false
Entity File Number	001-40587
Entity Tax Identification Number	80-0625749
Entity Address, Address Line One	4040 Campbell Ave
Entity Address, Address Line Two	Suite 100
Entity Address, City or Town	Menlo Park
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94025
City Area Code	877
Local Phone Number	266-1144
Entity Interactive Data Current	Yes
Title of 12(b) Security	Common Stock, par value $0.001
Security Exchange Name	NASDAQ
Entity Incorporation, State or Country Code	DE
Document Annual Report	true
Document Transition Report	false
Documents Incorporated by Reference	Portions of the registrant's definitive Proxy Statement relating to its 2022 Annual Meeting of Stockholders to be filed with the SEC within 120 days after the end of the fiscal year ended December 31, 2021 are incorporated herein by reference in Part III of this Annual Report on Form 10-K.
Auditor Name	DELOITTE & TOUCHE LLP
Auditor Location	San Jose, California
Auditor Firm ID	34

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 260,687	$ 61,511
Accounts receivable, net	8,709	5,363
Inventory, net	3,475	2,598
Prepaid expenses and other current assets	4,164	1,161
Total current assets	277,035	70,633
Property and equipment, net	1,454	1,269
Operating lease right-of-use assets	1,495	518
Other noncurrent assets	202	386
Total assets	280,186	72,806
Current liabilities:
Accounts payable	3,351	2,158
Accrued compensation	5,987	4,070
Accrued and other current liabilities	4,166	3,086
Total current liabilities	13,504	9,314
Long-term debt	32,656	31,955
Other noncurrent liabilities	1,919	3,055
Total liabilities	48,079	44,324
Commitments and contingencies (Note 6)
Stockholders’ equity (deficit):
Preferred stock par value of $0.001 per share; 10,000,000 authorized; no shares issued and outstanding as of December 31, 2021 and 2020, respectively
Common stock par value of $0.001 per share; 200,000,000 and 21,831,000 shares authorized as of December 31, 2021 and 2020, respectively; 47,504,704 and 9,509,182 shares issued and outstanding as of December 31, 2021 and 2020, respectively	48	9
Additional paid-in-capital	385,060	1,183
Accumulated deficit	(153,001)	(90,041)
Total stockholders’ equity (deficit)	232,107	(88,849)
Total liabilities, redeemable convertible preferred stock and stockholders’ equity (deficit)	280,186	72,806
Redeemable Convertible Preferred Stock
Redeemable convertible preferred stock:
Redeemable convertible preferred stock, $0.001 par value; 14,241,390 shares authorized as of December 31, 2020, 12,767,202 shares issued and outstanding as of December 31, 2020; aggregate liquidation preference of $118.6 million as of December 31, 2020	$ 0	$ 117,331

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Preferred stock par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred Stock, Shares Issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	200,000,000	21,831,000
Common Stock Shares Issued	47,504,704	9,509,182
Common Stock Shares Outstanding	47,504,704	9,509,182
Redeemable Convertible Preferred Stock
Redeemable convertible preferred stock, par value		$ 0.001
Redeemable convertible preferred stock, shares authorized		14,241,390
Redeemable convertible preferred stock, shares issued		12,767,202
Redeemable convertible preferred stock, shares outstanding	0	12,767,202
Redeemable convertible preferred stock, aggregate liquidation preference		$ 118,626

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Income Statement [Abstract]
Revenue	$ 48,956	$ 27,640
Cost of goods sold	8,610	9,209
Gross profit	40,346	18,431
Operating expenses:
Research and development	15,634	8,874
Selling, general and administrative	76,190	41,745
Total operating expenses	91,824	50,619
Loss from operations	(51,478)	(32,188)
Interest income		30
Interest expense	(4,366)	(2,403)
Other expense, net	(6,928)	(71)
Loss before income taxes	(62,772)	(34,632)
Provision for income taxes	188	61
Net loss and comprehensive loss	$ (62,960)	$ (34,693)
Net loss per share attributable to common stockholders, basic and diluted	$ (2.36)	$ (3.71)
Weighted-average shares outstanding, basic and diluted	26,734,097	9,356,218

Consolidated Statements of Rede

Consolidated Statements of Redeemable Convertible Preferred Stock and Stockholders Equity (Deficit) - USD ($) $ in Thousands	Total	IPO	Redeemable Convertible Preferred Stock	Redeemable Convertible Preferred StockIPO	Redeemable Convertible Preferred StockSeries E Redeemable Convertible Preferred Stock	Redeemable Convertible Preferred StockSeries F Redeemable Convertible Preferred Stock	Common Stock	Common StockIPO	Additional Paid-in Capital	Additional Paid-in CapitalIPO	Retained Earnings
Beginning Balance, Amount at Dec. 31, 2019	$ (54,683)						$ 9		$ 656		$ (55,348)
Beginning Balance, shares at Dec. 31, 2019			9,804,640
Balance at December 31, 2020 at Dec. 31, 2019			$ 64,256
Balance at December 31, 2020 at Dec. 31, 2019							9,319,466
Issuance of redeemable convertible preferred stock, net of issuance costs, Shares					1,899,847	1,062,715
Issuance of redeemable convertible preferred stock, net of issuance costs					$ 30,044	$ 23,031
Exercise of common stock warrants, Amount	6								6
Exercise of common stock warrants, Shares							129,310
Exercise of stock options, Amount	24								24
Exercise of stock options, Shares							60,406
Stock-based compensation expense	497								497
Net loss and comprehensive loss	(34,693)										(34,693)
Ending Balance, Amount at Dec. 31, 2020	$ (88,849)						$ 9		1,183		(90,041)
Ending Balance, shares at Dec. 31, 2020			12,767,202
Balance at September 30, 2021 at Dec. 31, 2020			$ 117,331
Balance at September 30, 2021 at Dec. 31, 2020							9,509,182
Conversion of redeemable convertible preferred stock to common stock upon initial public offering, Shares	25,534,404			(12,767,202)				25,534,404
Conversion of redeemable convertible preferred stock to common stock upon initial public offering		$ 117,331		$ 117,331				$ 26		$ 117,305
Issuance of common stock in connection with initial public offering, net of underwriting discounts and commissions and other offering costs of $23.8 million, Amount	$ 252,174						$ 12		252,162
Issuance of common stock in connection with initial public offering, net of underwriting discounts and commissions and other offering costs of $23.8 million, Shares							11,500,000
Conversion of redeemable convertible preferred stock warrants to common stock warrants upon initial public offering, Amount	8,973								8,973
Exercise of common stock warrants, Amount	0						$ 1		(1)
Exercise of common stock warrants, Shares							483,554
Exercise of stock options, Amount	$ 355								355
Exercise of stock options, Shares	477,564						477,564
Stock-based compensation expense	$ 5,083								5,083
Net loss and comprehensive loss	(62,960)										(62,960)
Ending Balance, Amount at Dec. 31, 2021	$ 232,107						$ 48		$ 385,060		$ (153,001)
Ending Balance, shares at Dec. 31, 2021			0
Balance at September 30, 2021 at Dec. 31, 2021			$ 0
Balance at September 30, 2021 at Dec. 31, 2021							47,504,704

Consolidated Statements of Re_2

Consolidated Statements of Redeemable Convertible Preferred Stock and Stockholders' Equity (Deficit) (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
IPO
Issuance costs	$ 23,800
Series E Redeemable Convertible Preferred Stock
Issuance costs		$ 106
Series F Redeemable Convertible Preferred Stock
Issuance costs		$ 219

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Cash flows from operating activities:
Net loss	$ (62,960)	$ (34,693)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	632	554
Accretion of debt discount and amortization of debt issuance costs	701	574
Stock-based compensation expense	5,083	497
Provision for doubtful accounts receivable	348	209
Provision for excess and obsolete inventories	436	1,362
Noncash operating lease cost	569	563
Change in fair value of redeemable convertible preferred stock warrant	6,861	64
Loss on disposal of property and equipment	115	158
Proceeds from Paycheck Protection Program loan	0	(2,246)
Changes in operating assets and liabilities:
Accounts receivable	(3,694)	(1,477)
Inventory	(1,313)	(1,716)
Prepaid expenses and other current assets	(3,003)	(735)
Other noncurrent assets	185	(237)
Accounts payable	1,168	448
Accrued compensation	1,918	1,900
Accrued and other current liabilities	342	1,987
Other noncurrent liabilities	72	614
Net cash used in operating activities	(52,540)	(32,174)
Cash flows from investing activities:
Purchases of property and equipment	(813)	(953)
Net cash used in investing activities	(813)	(953)
Cash flows from financing activities:
Proceeds from issuance of common stock upon initial public offering, net of underwriting discounts and commissions	256,680	0
Payment of other offering costs related to the initial public offering	(4,506)	(42)
Proceeds from issuance of redeemable convertible preferred stock, net of issuance costs	0	53,075
Proceeds from the issuance of debt	0	20,480
Debt issuance costs	0	(142)
Proceeds from exercise of common stock warrants	0	6
Proceeds from exercise of common stock options	355	24
Net cash provided by financing activities	252,529	73,401
Net change in cash and cash equivalents	199,176	40,274
Cash and cash equivalents at beginning of period	61,511	21,237
Cash and cash equivalents at end of period	260,687	61,511
Supplemental disclosure of cash flow information
Cash paid for interest	3,105	1,286
Supplemental disclosure of non-cash investing and financing information
Acquisition of property and equipment included in accounts payable and accrued liabilities	162	41
Unpaid initial public offering costs in accounts payable and accrued liabilities	0
Common Stock issued on conversion of convertible preferred stock	117,331
Common stock warrants issued on conversion of preferred stock warrants and the reclassification of the warrant liability	$ 8,973	$ 0

Company and Nature of Business

Company and Nature of Business	12 Months Ended
	Dec. 31, 2021
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Company and Nature of Business	Note 1. The Company and Nature of Business Description of Business Sight Sciences, Inc. (the “Company”) was incorporated in the State of Delaware in 2010. The Company is located and headquartered in Menlo Park, California and has principal commercial offices in Southlake, Texas. 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. The Company’s Surgical Glaucoma segment's product portfolio features the OMNI® Surgical System, a device that facilitates the performance of both canaloplasty and trabeculotomy with a single device and single corneal incision to reduce intraocular pressure in adult patients with primary open-angle glaucoma. The Company’s Dry Eye segment's product portfolio consists of the TearCare® System ("TearCare") for ophthalmologists and optometrists. TearCare is a wearable eyelid technology that delivers highly targeted and adjustable heat to the meibomian glands of the eyelids in adult patients with evaporative dry eye disease due to meibomian gland disfunction. Initial Public Offering In July 2021, the Company completed an initial public offering (“IPO”) of its common stock in which the Company issued and sold 10,000,000 shares of its common stock, and sold an additional 1,500,000 shares of common stock upon the full exercise of the underwriters’ option to purchase additional shares of the Company's common stock. These sales occurred at the initial public offering price of $ 24.00 per share. The Company received net proceeds of approximately $ 252.2 million from the IPO, after deducting underwriting discounts and commissions of $ 19.3 million and offering costs of $ 4.5 million, of which $ 0.4 million were incurred as of December 31, 2020. Immediately prior to the closing of the IPO, all then-outstanding shares of redeemable convertible preferred stock were converted into 25,534,404 shares of common stock. Further, all outstanding redeemable convertible preferred stock warrants were converted into warrants to purchase 659,028 shares of common stock, which resulted in the reclassification of the convertible preferred stock warrant liability to additional paid-in capital. In connection with the Company’s IPO, the Company’s certificate of incorporation was amended and restated to provide for 200,000,000 authorized shares of common stock with a par value of $ 0.001 per share and 10,000,000 authorized shares of preferred stock with a par value of $ 0.001 per share. Stock Split In July 2021, the Company effected a 2-for-1 stock split of its issued and outstanding shares of common stock and a proportional adjustment to the existing conversion ratios for each series of the Company’s redeemable convertible preferred stock. Accordingly, all share and per share amounts for all periods presented in the accompanying condensed consolidated financial statements and notes thereto have been adjusted retroactively, where applicable, to reflect this stock split and adjustment of the redeemable convertible preferred stock conversion ratios. Significant Risks and Uncertainties Since inception, the Company has incurred losses and negative cash flows from operations. As of December 31, 2021, the Company had an accumulated deficit of $ 153.0 million and recorded a net loss of $ 63.0 million for the year then ended and expects to incur future additional losses. 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 and scale back its business and operations. 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. Failure to generate sufficient revenues, achieve planned gross margins, or control operating costs will 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. The ongoing COVID-19 pandemic has impacted, and is expected to continue to impact, demand for the Company's products, which are used in procedures and therapies that are considered elective. COVID-19 may also, directly or indirectly, have an unfavorable impact on other areas of the Company's business including, but not limited to, supply chain, sales, third party manufacturing, research and development costs and clinical studies. The full effect of the COVID-19 pandemic on the Company's financial condition and results of operations remain highly uncertain and cannot be predicted with confidence, and will depend on certain developments, including the duration and severity of the COVID-19 pandemic and its potential variants. The impact on the Company's customers and suppliers and the range of governmental and community reactions to the pandemic are uncertain. The Company may continue to experience reduced customer demand or constrained supply that could materially adversely impact business, financial condition, results of operations, liquidity and cash flows in future periods.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Significant Accounting Policies	Note 2. Summary of Significant Accounting Policies Basis of Presentation The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (US GAAP). The Company’s consolidated financial statements include the accounts of the Company and its wholly owned subsidiary, Sight Sciences UK, Ltd. All intercompany balances and transactions have been eliminated in consolidation. Use of Estimates 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 inventory excess and obsolescence, the selection of useful lives of property and equipment, determination of the fair value of stock option grants, the fair value of the redeemable convertible preferred stock warrants, 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. Fair Value of Financial Instruments The Company’s financial instruments consist of cash and cash equivalents, accounts receivable, accounts payable, accrued liabilities, redeemable convertible preferred stock, short-term and long-term debt and redeemable convertible preferred stock warrant liability. The Company states accounts receivable, accounts payable, and accrued and other current liabilities at their carrying value, which approximates fair value due to the short time to the expected receipt or payment. The carrying amount of the Company’s short-term debt approximates its fair value as the effective interest rate approximates market rates currently available to the Company. The redeemable convertible preferred stock warrant liability associated with the Company’s redeemable convertible preferred stock was carried at fair value based on unobservable market inputs. The carrying value of the warrants continued to be adjusted until the completion of the IPO, which occurred in July 2021. At that time, the preferred stock warrant liability was adjusted to fair value and reclassified to additional paid-in capital. Concentration of Credit Risk Financial instruments that subject the Company to concentration of credit risk consist of cash and cash equivalents and accounts receivable. The Company’s cash and cash equivalents are deposited with a high-quality financial institution. Deposits at this institution may, at times, exceed federally insured limits. Management believes that this financial institution is financially sound and, accordingly, that minimal credit risk exists. The Company has not experienced any losses on its deposits of cash and cash equivalents. The Company relies on third-party contract manufacturers for the manufacture of all of our commercial products currently available for sale. Disruption in production would have a negative impact on the Company’s financial position, results of operations and cash flows. For the years ended December 31, 2021 and 2020, there were no customers that represented 10 % or more of the Company's revenue. Deferred Offering Costs Deferred offering costs, consisting of legal, accounting and other fees and costs relating to the Company’s IPO, were deferred until completion of the IPO. As of December 31, 2020, deferred offering costs of $ 0.4 million were capitalized and are included in “Other noncurrent assets”. In July 2021, upon closing of the IPO, total deferred costs of $ 4.5 million were offset against the Company's IPO proceeds in additional paid in capital. Cash and Cash Equivalents The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash and cash equivalents. Cash and cash equivalents are recorded at cost, which approximate fair value. As of December 31, 2021 and 2020, cash consists primarily of checking and savings deposits. The Company’s cash balances exceed those that are federally insured. To date, the Company has not recognized any losses caused by uninsured balances. Accounts Receivable and Provision for Doubtful Accounts Accounts receivable are stated at invoiced amounts, net of estimated provisions for doubtful accounts. The majority of customers are not extended credit and, therefore, time to maturity for receivables is short. The Company makes estimates of the collectability of customer accounts and provisions based primarily on analysis of historical trends and experience and changes in customers’ financial condition. The Company uses its judgment, based on the best available facts and circumstances, and records a provision against amounts due to reduce the receivable to the amount that is expected to be collected. These specific provisions are reevaluated and adjusted as additional information is received that impacts the amount reserved. To date, the Company has not experienced material credit-related losses. The provision for doubtful accounts was $ 0.6 million and $ 0.3 million as of December 31, 2021 and 2020, respectively. Inventory Inventory represents finished goods purchased from a third-party manufacturer and is valued at the lower of cost or net realizable value. Cost is determined using actual costs on a first-in, first-out basis for all inventory. Net realizable value is determined as the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. The Company regularly reviews inventory quantities in consideration of actual loss experiences, projected future demand, and remaining shelf life to record a provision for excess and obsolete inventory when appropriate. The Company’s policy is to write down inventory that has become obsolete, inventory that has a cost basis in excess of its expected lower of cost or net realizable value, and inventory in excess of expected requirements. The estimate of excess quantities is judgmental and primarily dependent on the Company’s estimates of future demand for the particular product. Property and Equipment, net Property and equipment are recorded at cost, less accumulated depreciation. Repairs and maintenance costs are expensed as incurred. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets, typically two to five years . When assets are retired or otherwise disposed of, the cost and accumulated depreciation are removed from the balance sheet and any resulting gain or loss is reflected in operations in the period realized. Construction-in-process assets consist primarily of tools and equipment that have not yet been placed in service. These assets are stated at cost and are not depreciated. Once the assets are placed into service, assets are reclassified to the appropriate asset class based on their nature and depreciated in accordance with the useful lives above. Impairment of Long-Lived Assets The Company assesses long-lived assets, including property and equipment, whenever events or changes in business circumstances indicate that the carrying amount of the assets may not be fully recoverable. If indicators of impairment exist, an impairment loss may be recognized when estimated undiscounted future cash flows expected to result from the use of the assets and their eventual disposition are less than their carrying amount. Impairment, if any, is measured as the amount by which the carrying amount of the long-lived assets exceeds their fair value. Fair value is determined through various valuation techniques, including discounted cash flow models, quoted market values, and third-party independent appraisals, as considered necessary. The Company did no t record any impairment of long-lived assets for the years ended December 31, 2021 and 2020. Leases Contractual arrangements that meet the definition of a lease are classified as operating or finance leases and are recorded on the balance sheets as both a right-of-use asset (“ROU asset”) and lease liability, calculated by discounting fixed lease payments over the lease term at the Company’s incremental borrowing rate (“IBR”). Lease ROU assets and lease obligations are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. The Company currently does not have any finance leases. Operating lease ROU assets are adjusted for (i) payments made at or before the commencement date, (ii) initial direct costs incurred, and (iii) tenant incentives under the lease. As the implicit rates for the operating leases are not determinable, the Company uses an IBR based on the information available at the respective lease commencement dates to determine the present value of future payments. IBR represents the interest rate that the Company would expect to incur at lease commencement to borrow an amount equal to the lease payments on a collateralized basis with similar terms and payments, in an economic environment where the leased asset is located. The Company considers a lease term to be the noncancelable period that it has the right to use the underlying asset, including any periods where it is reasonably certain the Company will exercise any option to extend the contract. Lease costs for minimum lease payments for operating leases are recognized on a straight-line basis over the lease term. Lease liabilities are increased by interest and reduced by payments each period, and the ROU asset is amortized over the lease term. Variable lease payments that do not depend on an index or rate are recognized as lease costs when incurred. In measuring the ROU assets and lease liabilities, the Company has elected to combine lease and non-lease components. The Company does not recognize ROU assets or lease liabilities for short-term leases, if any, having initial terms of 12 months or less at lease commencement as an accounting policy election, and recognizes rent expense on a straight-line basis over the lease term for these types of leases. Redeemable Convertible Preferred Stock Warrants The Company’s redeemable convertible preferred stock warrants were classified as liabilities as the underlying redeemable convertible preferred stock was considered contingently redeemable and the Company was obligated to transfer assets to the holders upon occurrence of a deemed liquidation event. The warrants were recorded at fair value upon issuance and subject to remeasurement to fair value at each balance sheet date, with changes in fair value recognized as other expense in the statements of operations. The warrants liability was recorded as other noncurrent liabilities in the balance sheets. The Company continued to adjust the warrant liability for changes in fair value until the conversion of redeemable convertible preferred stock into common stock. At the time of conversion, the liability associated with the redeemable convertible preferred stock warrants was converted into warrants to purchase common stock and reclassified to additional paid-in capital. As a result of the conversion in the current year, the redeemable convertible preferred stock warrant liability was settled and will no longer be subject to remeasurement. Redeemable Convertible Preferred Stock The Company recorded its redeemable convertible preferred stock at fair value on the dates of issuance, net of issuance costs. A redemption event will be deemed to have occurred upon the liquidation or winding-up of the Company, a greater than 50% change in control, or sale of substantially all of the assets of the Company. In the event of a change of control of the Company, proceeds received from the sale of such shares will be distributed in accordance with the liquidation preferences set forth in the Company’s amended and restated certificate of incorporation, unless the holders of redeemable convertible preferred stock otherwise agree or have converted their shares into shares of common stock. Therefore, redeemable convertible preferred stock was classified outside of stockholders’ equity in the balance sheets, as events triggering the liquidation preferences are not solely within the Company’s control. During the current year, the holders of the redeemable convertible preferred stock agreed to have their shares converted into shares of common stock. At the time of conversion, the balances were reclassified to common stock and additional paid-in capital. Common Stock Warrant The Company’s common stock warrant is classified in equity as it meets all criteria for equity classification. The fair value of the common stock warrant was calculated using the BackSolve Method and is recorded at fair value upon issuance in additional paid-in capital in the consolidated balance sheets. The common stock warrant is not remeasured after the issuance date. Revenue Recognition 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: • Identify the contract with a customer, • Identify the performance obligations in the contract, • Determine the transaction price, • Allocate the transaction price to performance obligations in the contract, and • Recognize revenue as the performance obligations are satisfied. Revenue recognized during the years ended December 31, 2021 and 2020 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 ECPs throughout the United States through sales representatives and distributors. 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 discounted, 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. 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 statements of operations. Cost of Goods Sold The Company purchases its products from third-party manufacturers. Cost of goods sold consists primarily of costs related to materials, manufacturing overhead costs, reserves for excess, and obsolete and non-sellable inventories. Cost of goods sold also includes depreciation expense for production equipment and certain direct costs, such as shipping and handling costs. Research and Development The Company expenses research and development costs as incurred. Research and development expenses consist primarily of product development, clinical studies to develop and support the Company’s products, regulatory expenses, medical affairs, and other costs associated with products and technologies that are in development. Research and development expenses include employee compensation, including stock-based compensation, supplies, consulting, prototyping, testing, materials, travel expenses, depreciation, and an allocation of facility overhead expenses. Selling, General and Administrative Selling, general and administrative expenses include compensation, employee benefits, and stock-based compensation for executive management, finance administration, and human resources; facility costs (including rent); bad debt costs; professional service fees; and other general overhead costs, including depreciation to support the Company’s operations. Advertising Expense The Company expenses advertising costs as incurred. Advertising expenses for fiscal years 2021 and 2020 were $ 2.1 million and $ 0.8 million, respectively, included in selling, general, and administrative expenses in the statements of operations and comprehensive loss. Accounting for Payroll Protection Program In March 2020, Congress established the Paycheck Protection Program (“PPP”) to provide relief to small businesses during COVID-19 as part of the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act. The legislation authorized the U.S. Treasury to use the Small Business Association’s (“SBA’s”) small business lending program to fund forgivable loans that qualifying businesses could spend to cover payroll, mortgage interest, rent, and utilities during the “Covered Period” defined as the 8-week period starting on the date the PPP loan proceeds are received. Upon meeting certain criteria as specified in the PPP program, the loans are eligible for partial or total forgiveness. In May 2020, the Company applied for and received a PPP loan for the amount $ 2.2 million from SBA. The PPP loan was fully forgiven in June 2021. U.S. GAAP does not contain authoritative accounting standards for forgivable loans provided by governmental entities to a for-profit entity. Absent authoritative accounting standards, interpretative guidance issued and commonly applied by financial statement preparers allows for the selection of accounting policies amongst acceptable alternatives. The Company determined it most appropriate to account for the PPP loan proceeds as an in-substance government grant by analogy to International Accounting Standards 20 (“IAS 20”) Accounting for Government Grants and Disclosure of Government Assistance . Under this guidance, a forgivable loan from government is treated as a government grant when there is reasonable assurance that the entity will meet the terms for forgiveness of the loan. While IAS 20 does not define “reasonable assurance”, this concept in practice is analogous to “probable” as defined in Financial Accounting Standards Board (“FASB”) ASC 450-20-20 under U.S. GAAP, which is the definition the Company has applied to its expectations of PPP loan forgiveness. Under IAS 20, government grants are recognized in earnings on a systematic basis over the periods in which the Company recognizes costs for which the grant is intended to compensate (i.e. qualified expenses). Further, IAS 20 permits for the recognition in earnings either separately under a general heading such as other income, or as a reduction of the related expenses. The Company has elected to recognize this government grant income as a reduction of the related expenses, and recognized $ 0.1 million, $ 0.3 million and $ 1.8 million as a reduction of cost of revenue, research and development and selling, general and administrative expenses, respectively for the year ended December 31, 2020. Stock-Based Compensation The Company measures and records the expense related to stock-based payment awards based on the fair value of those awards as determined on the date of grant. The Company recognizes stock-based compensation expense over the requisite service period of the individual grant, generally equal to the vesting period and uses the straight- line method to recognize stock-based compensation, and accounts for forfeitures as they occur. The Company selected the Black-Scholes-Merton (“Black-Scholes”) option-pricing model as the method for determining the estimated fair value for stock options. The Black-Scholes option-pricing model requires the use of highly subjective and complex assumptions, which determine the fair value of share-based awards, including the option’s expected term, expected volatility of the underlying stock, risk-free interest rate and expected dividend yield. Currency Remeasurement Foreign currency transaction gains and losses are recorded in other expense, net in the Company’s statements of operations and such amounts have not been material for all periods presented. Income Taxes The Company uses the asset and liability method of accounting for income taxes. Under this method, deferred tax assets and liabilities are determined based on the differences between the financial reporting and the tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. Management makes an assessment of the likelihood that the resulting deferred tax assets will be realized. A valuation allowance is provided when it is more likely than not that some portion or all off a deferred tax asset will not be realized. Due to the Company's historical operating performance and the recorded cumulative net losses in prior fiscal periods, the net deferred tax assets have been fully offset by a valuation allowance. The Company recognizes uncertain income tax positions at the largest amount that is more likely than not to be sustained upon audit by relevant taxing authority. An uncertain income tax position will not be recognized if it has less than a 50% likelihood of being sustained. Changes in recognition or measurement are reflected in the period in which judgment occurs. The Company's policy is to recognize interest and penalties related to the underpayment of income tax as a component of provision for income taxes. Comprehensive Loss Comprehensive loss represents all changes in stockholders’ deficit except those resulting from distributions to stockholders. There have been no items qualifying as other comprehensive income (loss) and, therefore, for all periods presented, there was no difference between comprehensive loss and the Company’s reported net loss. Net loss per share attributable to common stockholders Basic and diluted net loss per share attributable to common stockholders is presented in conformity with the two-class method required for participating securities. The Company considers all series of its redeemable convertible preferred stock and restricted stock awards to be participating securities as the holders are entitled to receive dividends on a pari passu basis in the event that a dividend is paid on common stock. Under the two-class method, the net loss attributable to common stockholders is not allocated to the redeemable convertible preferred stock or restricted stock awards as the holders of the Company’s redeemable convertible preferred stock and restricted stock awards do not have a contractual obligation to share in losses. Basic and diluted net loss per share attributable to common stockholders is computed by dividing the net loss attributable to common stockholders by the weighted-average number of common shares outstanding for the period without consideration of potentially dilutive securities. The Company’s potentially dilutive shares, which consist of outstanding common stock options, restricted stock awards, common stock warrants, redeemable convertible preferred stock and redeemable convertible preferred stock warrants were excluded in the computation of diluted net loss per share for the period as the result would be anti-dilutive. Emerging growth company and smaller reporting company The Company is an “emerging growth company” as defined in the Jumpstart Our Business Startups Act of 2012, as well as a "smaller reporting company, as defined by the Securities and Exchange Commission per Rule 12b-2 of the Exchange Act. As such the Company is eligible for exemptions from various reporting requirements applicable to other public companies that are not emerging growth companies, including reduced reporting and extended transition periods to comply with new or revised accounting standards for public business entities. The Company has elected to avail themselves of this exemption and, therefore, will not be subject to the timeline for adopting new or revised accounting standards for public business entities that are not emerging growth companies, and will follow the transition guidance applicable to private companies. Accounting Pronouncements Not Yet Adopted In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments , which amends the impairment model by requiring entities to use a forward-looking approach based on expected losses to estimate credit losses on certain types of financial instruments, including trade receivables and available-for-sale debt securities. The guidance is effective for the Company beginning in the first quarter of 2023. The Company is evaluating the impact of adopting this guidance and does not expect to have a material impact on the Company’s financial statements and related disclosures. In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes , that simplifies the accounting for income taxes by eliminating certain exceptions related to the approach for intra-period tax allocation and modified the methodology for calculating income taxes in an interim period. It also clarifies and simplifies other aspects of the accounting for income taxes. The guidance is effective for the Company for fiscal years beginning after December 15, 2021, and interim periods within fiscal years beginning after December 15, 2022 with early adoption permitted. The Company is evaluating the effect of this new guidance and does not expect it to have material impact on the Company’s financial statements. In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting . The new guidance provides optional expedients and exceptions for applying generally accepted accounting principles to contract modifications and hedging relationships, subject to meeting certain criteria, that reference LIBOR or another reference rate expected to be discontinued. The guidance also establishes (1) a general contract modification principle that entities can apply in other areas that may be affected by reference rate reform and (2) certain elective hedge accounting expedients. The amendment is effective for all entities through December 31, 2022. LIBOR is used to calculate the interest on borrowings under the Company’s term loan and revolving line of credit with MidCap Financial Services. The Company is evaluating the effect of this new guidance and does not expect it to have material impact on the Company’s financial statements.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 3. Fair Value Measurements The Company reports all financial assets and liabilities and nonfinancial assets and liabilities that are recognized or disclosed at fair value in the financial statements on a recurring basis. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. The authoritative guidance establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to measurements involving significant unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are as follows: Level 1—Inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. Level 2—Inputs are observable, unadjusted quoted prices in active markets for similar assets or liabilities, unadjusted quoted prices for identical or similar assets or liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the related assets or liabilities. Level 3—Inputs are unobservable inputs for the asset or liability. The level in the fair value hierarchy within which a fair value measurement in its entirety is based on the lowest-level input that is significant to the fair value measurement in its entirety. The financial statements as of December 31, 2021 and 2020, do not include any nonrecurring fair value measurements relating to assets or liabilities. As of December 31, 2021, there were no liabilities that are measured at fair value on a recurring basis. The following table sets forth the fair value measurements of financial liabilities as of December 31, 2020 (in thousands): As of December 31, 2020 Level 1 Level 2 Level 3 Total Liabilities: Redeemable convertible preferred stock warrants liabilities $ — $ — $ 2,112 $ 2,112 Total liabilities measured at fair value $ — $ — $ 2,112 $ 2,112 The Company measures the redeemable convertible preferred stock warrants using Level 3 unobservable inputs within the Black-Scholes option-pricing model. The key assumptions include the fair value of redeemable convertible preferred stock, volatility, the risk-free interest rate, expected term (remaining contractual term of the warrants) and dividend yield. The Company has limited historical volatility information available, and the expected volatility was based on actual volatility for comparable public companies projected over the expected terms of the warrants. The Company did not apply a forfeiture rate to the warrants as there is not enough historical information available to estimate such a rate. The risk-free interest rate was based on the U.S. Treasury yield curve at the time of the grant over the expected term of the warrants. Refer to Note 9 for the assumptions used. The Company measures the fair value of outstanding debt for disclosure purposes on a recurring basis. As of December 31, 2021 and 2020, total debt of $ 32.7 million and $ 32.0 million is reported at amortized cost, respectively. This outstanding debt is classified as Level 2 as it is not actively traded. The amortized cost of the outstanding debt approximates the fair value. The Company determines the fair value of the redeemable convertible preferred stock warrants quarterly, with subsequent gains and losses from remeasurement of Level 3 financial liabilities recorded through other expense, net in condensed statements of operations and comprehensive loss. A summary of the changes in the fair value of the Company’s Level 3 financial instruments for the years ended December 31, 2021 and 2020, is as follows (in thousands): Redeemable convertible preferred stock warrants liabilities Balance – December 31, 2019 $ 236 Issuance of redeemable convertible preferred stock warrants 1,812 Change in fair value 136 Expiration of redeemable convertible preferred stock warrants ( 72 ) Balance – December 31, 2020 2,112 Change in fair value 6,861 Conversion of preferred stock warrants to common stock warrants upon the closing of the IPO ( 8,973 ) Balance – December 31, 2021 $ —

Balance Sheet Components

Balance Sheet Components	12 Months Ended
	Dec. 31, 2021
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Balance Sheet Components	Note 4. Balance Sheet Components Property and Equipment, Net Property and equipment, net consist of the following (in thousands): As of December 31, 2021 2020 Tools and equipment $ 1,685 $ 1,523 Computer equipment and software 100 118 Furniture and fixtures 254 43 Leasehold improvements 29 30 Construction in process 590 298 2,658 2,012 Less: Accumulated depreciation ( 1,204 ) ( 743 ) Property and equipment, net $ 1,454 $ 1,269 Depreciation expense was $ 0.6 million and $ 0.6 million for the years ended December 31, 2021 and 2020 respectively. Accrued and Other Current Liabilities Accrued and other current liabilities consist of the following (in thousands): As of December 31, 2021 2020 Accrued expenses $ 2,726 $ 1,971 Current portion of lease liabilities 510 395 Short term interest payable 275 274 Other accrued liabilities 655 446 Total accrued and other current liabilities $ 4,166 $ 3,086 Other Noncurrent Liabilities Other noncurrent liabilities consist of the following (in thousands): As of December 31, 2021 2020 Redeemable preferred stock warrants liabilities $ — $ 2,112 Long term interest payable 841 465 Noncurrent portion of lease liabilities 1,040 134 Other noncurrent liabilities 38 344 Total other noncurrent liabilities $ 1,919 $ 3,055

Debt

Debt	12 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
Debt	Note 5. Debt In January 2019, the Company entered into credit and security agreements with MidCap Financial Services, or the Lender, which provided a maximum of $ 25.0 million credit facility consisting of a $ 20.0 million senior secured term loan (the "2019 Term Loan") and a $ 5.0 million 2019 revolving loan (the "2019 Revolver" and collectively with the 2019 Term Loan, the “2019 MidCap Credit Facility”). In November 2020, the Company entered into amended and restated credit and security agreements with the same institution, which replaced the 2019 MidCap Credit Facility, and provided for a maximum of $ 40.0 million credit facility consisting of a $ 35.0 million senior secured term loan (the "2020 Term Loan") and a $ 5.0 million revolving loan (the "2020 Revolver and collectively with the 2020 Term Loan, the “2020 MidCap Credit Facility”). The obligations under the MidCap Loan Agreements are guaranteed by the Company's current and future subsidiaries, subject to exceptions for certain foreign subsidiaries. Obligations under the agreements are secured by substantially all assets of the Company, including material intellectual property. Additionally, the Company is subject to customary affirmative and negative covenants as defined in the credit agreement, including covenants that limit or restrict the ability to, among other things, incur indebtedness, grant liens, merge or consolidate, make investments, dispose of assets, make acquisitions, pay dividends or make distributions, repurchase stock and enter into certain transactions with affiliates, in each case subject to certain exceptions. The agreements also have financial covenants that relate to minimum trailing revenue targets, which began in November 2020, and are tested on a monthly basis. As of December 31, 2021, the Company was in compliance with all financial and non-financial covenants. The MidCap Loan Agreements each contain events of default that include, among others, non-payment of principal, interest or fees, breach of covenants, inaccuracy of representations and warranties, cross-defaults and bankruptcy and insolvency events. 2020 Term Loan The 2020 Term Loan has a five-year term and has a stated floating interest rate which equates to reserve- adjusted LIBOR + 7.00 %. The effective interest rate at December 31, 2021 was 12.94 %. The 2020 Term Loan is split into three tranches as follows: (i) the Tranche One Loans provide for $ 12.0 million in term loans which are deemed to have been converted from Tranche One Loans that were drawn and outstanding under the 2019 Term Loan immediately prior to entering into 2020 MidCap Credit Facility, (ii) the Tranche Two Loans provided for up to $ 2.0 million in term loans which are deemed to have been converted from Tranche Two Loans that were drawn and outstanding under the 2019 Term Loan immediately prior to entering into 2020 MidCap Credit Facility, and (iii) the Tranche Three Loans provided for up to $ 21.0 million in new term loans. The Company borrowed $ 21.0 million under the Tranche Three Loans in November 2020. The 2020 Term Loan requires monthly interest-only payments , which began in December 2020. Principal payments are scheduled to begin in December 2022, however, the interest-only period can be extended by an additional 24 months provided that the Company is in compliance with certain financial covenants and other terms as defined in the MidCap Loan Agreements. The Company currently has the ability to and intends to extend the interest-only period through December 2023. In conjunction with entry into the 2020 MidCap Credit Facility, the Company issued a 10-year warrant to the Lender to purchase 300,000 shares of the Company’s Series F redeemable convertible preferred stock (the “2020 Warrant”) at an exercise price of $ 21.88 per share (see Note 9). The estimated fair value at issuance of the 2020 Warrant of $ 1.8 million. The 2020 Warrant was recorded at the fair value as a debt discount and as a warrant liability. In addition, the Company incurred $ 0.5 million of issuance costs paid to the Lender in conjunction with the 2020 Term Loan which represents a debt discount. The Company concluded that the 2020 Term Loan represented a modification of the 2019 Term Loan and accounted for the 2020 Term Loan as debt modification. A final payment fee of 6 % of the amounts borrowed is payable at the end of the term or when the borrowings are repaid in full. A long-term liability is being accreted using the effective interest method for the final payment fee over the term of the loan agreement. The borrowings are collateralized by a security interest in substantially all of the Company’s assets. The Company accrued $ 0.9 million and $ 0.5 million as of December 31, 2021 and 2020, respectively, related to accretion of final payment due at maturity per the agreement using the effective interest rate method. 2020 Revolver The 2020 Revolver has a four-year term and has a stated floating interest rate which equates to reserve- adjusted LIBOR plus 4.50 %. An unused line fee of 0.5 % is payable monthly based on the average unused balance and a collateral management fee of 0.5 % is payable monthly based on the outstanding balance of the 2020 Revolver. The Company can request to increase the 2020 Revolver commitment amount to $ 15.0 million under the term of the agreement. As of December 31, 2021, $ 5.0 million was available to be drawn under the 2020 Revolver. Long-term and short-term debt as of December 31, 2021 and 2020 was as follows (in thousands): As of December 31, 2021 2020 2020 Term Loan $ 35,000 $ 35,000 Total principal payments due 35,000 35,000 Less: debt discount related to warrant liability and issuance costs ( 2,344 ) ( 3,045 ) Total amounts outstanding 32,656 31,955 Less: Current portion — — Total accrued and other current liabilities $ 32,656 $ 31,955 The repayment schedule relating to the Company’s principal debt as of December 31, 2021, is as follows (in thousands): Amount 2022 — 2023 ( 1,458 ) 2024 ( 17,500 ) 2025 ( 16,042 ) Total repayments $ ( 35,000 )

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2021
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 6. Commitments and Contingencies Operating Lease Obligations The Company’s leases include facility leases and storage leases. In determining the present value of lease payments, the Company uses its incremental borrowing rate based on the information available at the lease commencement date if the rate implicit in the lease is not readily determinable. The Company estimates its incremental borrowing rate based on qualitative factors including company specific credit offers, lease term, general economics, and the interest rate environment. In September 2019, the Company entered into a noncancelable operating lease for approximately 10,823 square feet of primary office space, which expired on July 31, 2021 , without the option to extend. On February 5, 2021, the Company entered into a lease to renew the corporate headquarters in Menlo Park, California. The lease commenced on August 1, 2021 and is for a term of 37 months from the commencement date. The Company recorded an aggregate right-of-use ("ROU") asset and lease liability of $ 1.5 million. The ROU asset and corresponding lease liability were estimated using a weighted-average incremental borrowing rate of 13.59 %. Total base rent is approximately $ 1.6 million under the lease agreement. The Company recognizes rent expense on a straight-line basis over the noncancelable lease term. The Company’s rent expense was $ 0.7 million and $ 0.7 million for the years ended December 31, 2021 and 2020, respectively. As of December 31, 2021, the remaining lease term for the lease was 2.6 years. Operating lease expense and supplemental cash flow information related to operating leases for the years ended December 31, 2021 and 2020 were as follows (in thousands): Year Ended December 31, 2021 2020 Operating lease expense $ 702 $ 663 Cash paid for operating leases 657 694 New operating lease assets obtained in exchange for 1,537 — Aggregate future minimum lease payments at December 31, 2021 under these noncancelable operating leases was as follows (in thousands): As of December 31, 2021 2022 $ 693 2023 706 2024 462 Total future minimum lease payments $ 1,861 Less: imputed interest ( 311 ) Present value of future minimum lease payments $ 1,550 Less: current portion of operating lease liability ( 510 ) Operating lease liabilities - noncurrent $ 1,040 Indemnification In the normal course of business, the Company enters into contracts and agreements that contain a variety of representations and warranties and provide for general indemnifications. The Company’s exposure under these agreements is unknown because it involves claims that may be made against the Company in the future, but that have not yet been made. To date, the Company has not paid any claims or been required to defend any action related to its indemnification obligations. However, the Company may record charges in the future as a result of these indemnification obligations. The Company indemnifies each of its directors and officers for certain events or occurrences, subject to certain limits, while the director is or was serving at the Company’s request in such capacity, as permitted under Delaware law and in accordance with its certificate of incorporation and bylaws. The term of the indemnification period lasts as long as a director may be subject to any proceeding arising out of acts or omissions of such director in such capacity. The maximum amount of potential future indemnification is unlimited; however, the Company currently holds director liability insurance. This insurance allows the transfer of risk associated with the Company’s exposure and may enable it to recover a portion of any future amounts paid. The Company believes that the fair value of these indemnification obligations is minimal. Accordingly, the Company has not recognized any liabilities relating to these obligations as of December 31, 2021 and 2020. Contingencies From time to time, we may become involved in legal proceedings arising in the ordinary course of business. We are not currently a party to any material legal proceedings.

Redeemable Convertible Preferre

Redeemable Convertible Preferred Stock	12 Months Ended
	Dec. 31, 2021
Redeemable Convertible Preferred Stock [Abstract]
Redeemable Convertible Preferred Stock	Note 7. Redeemable Convertible Preferred Stock The Company’s redeemable convertible preferred stock issued and outstanding at December 31, 2020 (in thousands, except share and per share data) were as follows: Shares Authorized Shares Issued and Outstanding Original Issuance Price Liquidation Amount Issuance Costs Carrying Value Series A 3,804,344 3,804,344 $ 1.38 $ 5,250 $ 9 $ 5,241 Series B 1,209,621 1,209,621 $ 5.79 7,000 106 6,894 Series C 2,372,371 2,342,857 $ 9.49 22,226 208 22,018 Series D 2,507,720 2,447,818 $ 12.56 30,750 647 30,103 Series E 1,921,902 1,899,847 $ 15.87 30,150 106 30,044 Series F 2,425,432 1,062,715 $ 21.88 23,250 219 23,031 14,241,390 12,767,202 $ 118,626 $ 1,295 $ 117,331 Immediately prior to the closing of the IPO, all then-outstanding shares of redeemable convertible preferred stock were converted into 25,534,404 shares of common stock, resulting in the reclassification of the related redeemable convertible preferred stock of $ 117.3 million to common stock and APIC. There was no redeemable convertible preferred stock outstanding as of December 31, 2021.

Common Stock Warrants

Common Stock Warrants	12 Months Ended
	Dec. 31, 2021
Warrants And Rights Note Disclosure [Abstract]
Common Stock Warrants	Note 8. Common Stock Warrants In connection with the issuance of the Company’s Series A redeemable convertible preferred stock issuances in September 2011, the Company issued a warrant to purchase 129,310 shares of common stock to an investor who purchased Series A redeemable convertible preferred stock at an exercise price of $ 0.05 per share. The common stock warrant was exercised in December 2020 and is no longer outstanding.

Redeemable Convertible Prefer_2

Redeemable Convertible Preferred Stock Warrants	12 Months Ended
	Dec. 31, 2021
Warrants And Rights Note Disclosure [Abstract]
Redeemable Convertible Preferred Stock Warrants	Note 9. Redeemable Convertible Preferred Stock Warrants 2019 Warrants Under the 2019 Term Loan, the Company issued the 2019 Warrants to purchase shares of its Series C redeemable convertible preferred stock. At initial recognition, the warrants were recorded at fair value and were subject to remeasurement at each balance sheet date. Subsequent to the IPO in 2021, the outstanding warrants were converted to common stock, which resulted in the re-classification of the convertible preferred stock warrant liability to additional paid-in-capital. As of December 31, 2020, the estimated fair value of the warrants was $ 0.3 million. The fair value was calculated using the Black-Scholes option-pricing model with the following assumptions: December 31, 2020 Expected term (in years) 8.1 – 8.5 Expected volatility 42.18 % – 42.63 % Risk-free interest rate 2.33 % – 2.49 % Dividend yield – 2020 Warrant In conjunction with entering into the 2020 Term Loan agreement, the Company issued the 2020 Warrant to purchase 300,000 shares of its Series F redeemable convertible preferred stock. The warrant was immediately exercisable at an exercise price per share of $ 21.88 and expires 10 years from its date of issuance. The estimated fair value of the warrant on the date of issuance was $ 1.8 million. As of the issuance date, the fair value was calculated using a Multi-scenario Method with Discounts for Lack of Marketability for each class of security. At initial recognition, the warrant was recorded at its estimated fair values and was subject to remeasurement at each balance sheet date. Upon the completion of the IPO, the outstanding warrant was converted to purchase 600,000 shares of common stock, which resulted in the re-classification of the convertible preferred stock warrant liability to additional paid-in capital. In August 2021, the warrant was net exercised and the Company issued 431,708 shares of common stock. At December 31, 2020, the estimated fair value of the 2020 Warrant was $ 1.8 million. The fair value of the redeemable convertible preferred stock warrants was determined using the following assumptions: December 31, 2020 Term (in years) 0.58 – 2.58 Expected volatility 55.9 % - 65.6 % Risk-free interest rate 0.08 % - 0.18 %

Common Stock

Common Stock	12 Months Ended
	Dec. 31, 2021
Equity [Abstract]
Common Stock	Note 10. Common Stock In connection with the Company’s IPO in July 2021, the Company’s certificate of incorporation was amended and restated to provide for 200,000,000 authorized shares of common stock with a par value of $ 0.001 per share and 10,000,000 authorized shares of preferred stock with a par value of $ 0.001 per share. The holders of common stock were also entitled to receive dividends whenever funds are legally available, when and if declared by the board of directors. As of December 31, 2021, no dividends have been declared to date. Each share of common stock is entitled to one vote. At December 31, 2021 and December 31, 2020, the Company had reserved common stock for future issuances as follows: December 31, 2021 2020 Redeemable convertible preferred stock and warrants — 26,193,432 Common stock options issued and outstanding 4,996,945 3,137,776 Common stock available for future grant 5,321,687 451,670 Restricted stock units outstanding 53,250 — Shares available for future purchase under ESPP 850,000 — 11,221,882 29,782,878

Equity Incentive Plans

Equity Incentive Plans	12 Months Ended
	Dec. 31, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Equity Incentive Plans	Note 11. Equity Incentive Plans 2011 Stock Option Plan and 2021 Equity Incentive Plan In 2011, the Company established its 2011 stock option plan (the “2011 Plan”) that provided for the granting of stock options to employees and nonemployees of the Company. In July 2021, the Company’s Board of Directors and stockholders adopted and approved the 2021 Equity Incentive Plan, (the “2021 Plan”). Under the 2021 Plan, the Company had the ability to issue incentive stock options ("ISOs"), nonqualified stock options ("NSOs"), stock appreciation rights, dividend equivalent rights, restricted stock awards, and restricted stock unit awards. Options under the 2021 Plan could be granted for periods of up to 10 years. For incentive stock options granted to a grantee who, at the time the option is granted, owns stock representing more than 10% of the voting power of all classes of stock of the Company or any parent or subsidiary of the Company, the term of the incentive stock option may be granted for periods of up to five years. The ISOs and NSOs will be granted at a price per share not less than the fair value at the date of grant. The exercise price of an ISO granted to a 10% stockholder shall not be less than 110% of the estimated fair value of the shares on the date of grant, as determined by the board of directors. Options granted to new hires generally vest over a four-year period, with 25% vesting at the end of one year and the remaining vesting monthly thereafter; options granted as merit awards generally vest monthly over a four-year period. The Company reserved 5,200,000 shares of common stock for future issuance under the 2021 Plan. The Company’s 2011 Stock Plan was terminated in connection with the IPO and no further grants will be made under the 2011 Plan from the date that the 2021 Plan became effective. The terms under the 2011 Plan are consistent with those described above for the 2021 Plan. The Company had the ability to issue ISOs, NSOs, stock appreciation rights, dividend equivalent rights, restricted stock awards, and restricted stock unit awards. At December 31, 2021 and 2020, there were 5,321,687 shares and 451,670 shares, respectively, of common stock available for issuance under the 2021 and 2011 Plans, respectively. Stock Option Awards The following table summarizes stock option activity under the 2011 and 2021 Plans: Number of Weighted-Average Exercise Price Weighted-Average Average Intrinsic Value Outstanding, December 31, 2020 3,137,776 $ 0.94 6.8 $ 18,656 Grants 2,487,253 11.35 Forfeited/cancelled ( 150,520 ) 3.77 Exercised ( 477,564 ) 0.78 Outstanding, December 31, 2021 4,996,945 $ 6.05 7.6 $ 58,420 Vested and exercisable as of December 31, 2021 2,098,249 $ 2.22 5.6 $ 32,268 Vested and expected to vest as of December 31, 2021 4,963,575 $ 6.09 7.6 $ 57,895 The weighted-average grant-date fair values of options granted during the year ended December 31, 2021 and 2020 was $ 11.35 and $ 2.90 per share, respectively. The aggregate intrinsic value of options exercised were $ 7.3 million during the year ended December 31 , 2021. The aggregate intrinsic value was calculated as the difference between the exercise prices of the underlying options and the estimated fair value of the common stock on the date of exercise. As of December 31, 2021, the unrecognized stock-based compensation of unvested opti ons was $ 23.3 million, which is expected to be recognized over a weighted-average period of 3.29 years. Determination of fair value The Company estimated the fair value of stock options using the Black-Scholes option-pricing model. The fair value of stock options is recognized on a straight-line basis over the requisite service periods of the awards. The fair value of stock options was estimated using the following weighted-average assumptions: Years ended December 31, 2021 2020 Expected term (in years) 4.99 – 6.18 5.85 - 6.08 Expected volatility 56.74 % – 61.08 % 48.27 %- 55.64 % Risk-free interest rate 0.47 % – 1.33 % 0.33 %- 1.77 % Dividend yield – – Expected Term The expected term is calculated using the simplified method, which is available if there is insufficient historical data about exercise patterns and post vesting employment termination behavior. The simplified method is based on the vesting period and the contractual term for each grant or for each vesting tranche for awards with graded vesting. The midpoint of the vesting date and the maximum contractual expiration date is used as the expected term under this method. For awards with multiple vesting tranches, the time from grant until the midpoints for each of the tranches may be averaged to provide an overall expected term. Expected Volatility The Company used an average historical stock price volatility of a peer group of publicly traded companies to be representative of its expected future stock price volatility, as the Company did not have any trading history for its common stock. For purposes of identifying these peer companies, the Company considered the industry, stage of development, size, and financial leverage of potential comparable companies. For each grant, the Company measured historical volatility over a period equivalent to the expected term. Risk-Free Interest Rate The risk-free interest rate is based on the implied yield currently available on US Treasury zero-coupon issues with remaining terms equivalent to the expected term of a stock award. Expected Dividend Rate The Company has not paid, and does not anticipate paying, any dividends in the near future. Accordingly, the Company has estimated the dividend yield to be 0 %. Restricted Stock Units RSUs are share awards that entitle the holder to receive freely tradable shares of the Company’s common stock upon vesting. The RSUs cannot be transferred, and the awards are subject to forfeiture if the holder’s employment terminates prior to the release of the vesting restrictions. The RSUs generally vest over a four-year period with straight-line vesting in equal amounts on an annual basis, provided the employee remains continuously employed with the Company. The fair value of the RSUs is equal to the closing price of the Company’s common stock on the grant date. The following table summarizes restricted share award activity: Number of Weighted-Average Grant Date Fair Value Per Share Outstanding, December 31, 2020 — $ — Grants 53,250 22.91 Forfeited/cancelled — — Vested — — Outstanding, December 31, 2021 53,250 $ 22.91 There were no RSUs granted prior to 2021. During the year ended December 31, 2021, the Company recorded stock-based compensation of less than $ 0.1 million related to the RSUs. As of December 31, 2020, there was $ 1.2 million of total unrecognized compensation cost related to the RSUs that is expected to be recognized over a weighted-average period of 3.75 years. Stock Based Compensation The following is a summary of stock-based compensation expense by function (in thousands): Years Ended December 31, 2021 2020 Cost of goods sold $ 71 $ 20 Research and development 495 84 Selling, general and administrative 4,517 393 Total stock-based compensation expense $ 5,083 $ 497 2021 Employee Stock Purchase Plan In July 2021, the Board of Directors and stockholders also adopted and approved the 2021 Employee Stock Purchase Plan (the “ESPP”). The Company reserved 850,000 shares of common stock for future issuance under the ESPP. As of December 31, 2021, no shares of common stock have been purchased under the ESPP.

Net Loss per Share Attributable

Net Loss per Share Attributable to Common Stockholders	12 Months Ended
	Dec. 31, 2021
Earnings Per Share [Abstract]
Net Loss per Share Attributable to Common Stockholders	Note 12. Net Loss per Share Attributable to Common Stockholders Basic net loss per share is computed by dividing the net loss by the weighted-average number of common shares outstanding for the period. As the Company reported a net loss for the years ended December 31, 2021 and 2020, basic net loss per share is the same as diluted net loss per share as the inclusion of potentially dilutive shares would have been antidilutive if included in the calculation. The following table sets forth the computation of basic and diluted net loss per share attributable to common stockholders (in thousands, except share and per share data): Year Ended December 31, 2021 2020 Numerator: Net loss attributable to common stockholders $ ( 62,960 ) $ ( 34,693 ) Denominator: Weighted-average shares of common stock 26,734,097 9,356,218 Net loss per share attributable to common $ ( 2.36 ) $ ( 3.71 ) The following outstanding shares of potentially dilutive securities were excluded from the computation of diluted net loss per share attributable to common stockholders for the period presented because including them would have been antidilutive: December 31, 2021 2020 Redeemable convertible preferred stock — 12,767,202 Redeemable convertible preferred stock warrants — 329,514 Options to purchase common stock 4,996,945 3,137,776 Restricted stock units 53,250 — Total 5,050,195 16,234,492

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Note 13. Income Taxes T he Company’s income tax provision for the years ended December 31, 2021 and 2020, consists of the following (in thousands): Current December 31, 2021 2020 Federal $ — $ 6 Foreign 16 — State 172 41 Provision (benefit) for income taxes $ 188 $ 47 Deferred tax assets and liabilities reflect the net tax effect of temporary differences between carrying value of assets and liabilities for financial reporting purposes and the tax basis of these assets and liabilities as measured by income tax law. The income tax effect of temporary differences that give rise to deferred tax assets and (liabilities) consist of the following (in thousands): December 31, 2021 2020 Deferred tax assets: Net operating loss carryforwards $ 35,186 $ 22,208 Deferred compensation 1,812 899 Research and development credits 1,497 1,071 Operating lease liability 405 138 Provision for bad debt 163 75 Provision for excess and obsolete inventories 28 282 Other 104 19 Gross deferred tax assets 39,195 24,692 Less: Valuation allowance ( 38,804 ) ( 24,543 ) Deferred tax assets, net of valuation allowance 391 149 Operating lease right-of-use assets ( 391 ) ( 135 ) Fixed Assets — ( 14 ) Deferred tax liabilities: ( 391 ) ( 149 ) Net deferred tax assets $ — $ — Internal Revenue Code (IRC) Section 382 limits the use of federal net operating losses and income tax credit carryforwards in certain situations where changes occur in stock ownership of a company. If the Company should have an ownership change of more than 50% of the value of the Company’s capital stock, utilization of the carryforwards could be restricted. The reconciliation of the statutory federal income tax rate to the Company’s effective tax rate is as follows (in thousands): December 31, 2021 2020 Tax at statutory federal rate 21 % 21 % State tax, net of federal benefit 5 % 5 % Research and development credit 1 % 1 % Change in valuation allowance ( 24 )% ( 27 )% Other ( 3 )% — Effective tax rate — — A valuation allowance is recorded when it is more likely than not that some portion of the deferred tax assets will not be realized. As of each reporting date, the Company’s management considers all evidence, both positive and negative, that could affect management’s view with regard to future realization of deferred tax assets. As of December 31, 2021 and 2020, a full valuation allowance for deferred tax assets was recorded as management believes it is more likely than not that all of the deferred tax assets will not be realized in the future. At December 31, 2021, and 2020, the Company has a net operating loss carryforward for federal income tax purposes of approximately $ 136.8 million and $ 85.3 million, respectively. At December 31, 2021 and 2020, the Company has a net operating loss carryforward for state income tax purposes of approximately $ 126.6 million and $ 83.5 million, respectively. Net operating losses prior to 2018 of $ 14.8 million will expire, if not utilized, beginning in 2032 for federal and state income tax purposes. As of December 31, 2021 and 2020, the Company has federal research and development income tax credit carryforwards of approximately $ 1.2 million and $ 0.8 million, respectively. As of December 31, 2021 and 2020, the Company has state research and development income tax credit carryforwards of approximately $ 0.9 million and $ 0.9 million, respectively. The Federal income tax credits begin to expire in 2032. The Company has a full valuation allowance on research and development tax credits as of December 31, 2021 and 2020. The state research and development credits can be carried forward indefinitely. The total amount of uncertain tax positions (UTP) on research and development tax credits is $ 0.6 million and $ 0.4 million as of December 31, 2021 and 2020, respectively. The Company does not expect any significant change to the UTP balances in the next 12 months . The following table summarizes the activity related to the unrecognized tax benefits (in thousands): December 31, 2021 2020 Unrecognized tax benefits at the beginning of the year $ 417 $ 304 Additions based on tax positions related to the current year 163 113 Additions for tax positions of prior years — — Unrecognized tax benefits at the end of the year $ 580 $ 417 The Company does not have any material uncertain tax positions as of December 31, 2021 and does not expect any significant change to such balances in the next twelve months. The Company currently has no federal or state tax examinations in progress nor has it had any federal or state tax examinations since its inception. Due to the history of net operating losses, the Company’s federal and state tax returns remain open to examination by the tax authorities

Segment Information

Segment Information	12 Months Ended
	Dec. 31, 2021
Segment Reporting [Abstract]
Segment Information	Note 14. Segment Information The Company has two reportable operating segments which are determined on the basis of product portfolio: Surgical Glaucoma and Dry Eye. The operating and reportable segments were determined based on how the Company’s Chief Executive Officer, its Chief Operating Decision Maker (“CODM”), views and evaluates the Company’s operations. The CODM allocates resources to and evaluates the financial performance of each operating segment primarily based on gross profit and gross profit margin. Surgical Glaucoma segment includes sales of the Company’s OMNI® Surgical System for use in minimally invasive glaucoma procedures. Dry Eye segment includes sales of the Company’s TearCare® System and related components. The following table summarizes select operating results information for each reportable segment (dollars in thousands): Year Ended December 31, 2021 2020 Revenue Surgical Glaucoma $ 46,496 $ 26,000 Dry Eye 2,460 1,640 Total 48,956 27,640 Cost of goods sold Surgical Glaucoma 6,473 7,069 Dry Eye 2,137 2,140 Total 8,610 9,209 Gross profit Surgical Glaucoma 40,023 18,931 Dry Eye 323 ( 500 ) Total 40,346 18,431 Operating expense 91,824 50,619 Loss from operations ( 51,478 ) ( 32,188 ) Interest income — 30 Interest expense ( 4,366 ) ( 2,403 ) Other expense, net ( 6,928 ) ( 71 ) Loss before income tax $ ( 62,772 ) $ ( 34,632 ) The Company does not allocate any income and expenses beyond revenue and cost of goods sold to the reportable operating segments in its reporting to the CODM. No asset information is provided for reportable operating segments because they are not reviewed by the CODM on segment basis. Substantially all of the Company’s revenue is generated from sales in the United States.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2021
Subsequent Events [Abstract]
Subsequent Events	Note 15. Subsequent Events The Company evaluated subsequent events through March 24, 2022, the date on which the condensed consolidated financial statements were available for issuance.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Basis of Accounting	Basis of Presentation The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (US GAAP). The Company’s consolidated financial statements include the accounts of the Company and its wholly owned subsidiary, Sight Sciences UK, Ltd. All intercompany balances and transactions have been eliminated in consolidation.
Use of Estimates	Use of Estimates 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 inventory excess and obsolescence, the selection of useful lives of property and equipment, determination of the fair value of stock option grants, the fair value of the redeemable convertible preferred stock warrants, 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.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The Company’s financial instruments consist of cash and cash equivalents, accounts receivable, accounts payable, accrued liabilities, redeemable convertible preferred stock, short-term and long-term debt and redeemable convertible preferred stock warrant liability. The Company states accounts receivable, accounts payable, and accrued and other current liabilities at their carrying value, which approximates fair value due to the short time to the expected receipt or payment. The carrying amount of the Company’s short-term debt approximates its fair value as the effective interest rate approximates market rates currently available to the Company. The redeemable convertible preferred stock warrant liability associated with the Company’s redeemable convertible preferred stock was carried at fair value based on unobservable market inputs. The carrying value of the warrants continued to be adjusted until the completion of the IPO, which occurred in July 2021. At that time, the preferred stock warrant liability was adjusted to fair value and reclassified to additional paid-in capital.
Concentration Of Credit Risk	Concentration of Credit Risk Financial instruments that subject the Company to concentration of credit risk consist of cash and cash equivalents and accounts receivable. The Company’s cash and cash equivalents are deposited with a high-quality financial institution. Deposits at this institution may, at times, exceed federally insured limits. Management believes that this financial institution is financially sound and, accordingly, that minimal credit risk exists. The Company has not experienced any losses on its deposits of cash and cash equivalents. The Company relies on third-party contract manufacturers for the manufacture of all of our commercial products currently available for sale. Disruption in production would have a negative impact on the Company’s financial position, results of operations and cash flows. For the years ended December 31, 2021 and 2020, there were no customers that represented 10 % or more of the Company's revenue.
Deferred Offering Costs	Deferred Offering Costs Deferred offering costs, consisting of legal, accounting and other fees and costs relating to the Company’s IPO, were deferred until completion of the IPO. As of December 31, 2020, deferred offering costs of $ 0.4 million were capitalized and are included in “Other noncurrent assets”. In July 2021, upon closing of the IPO, total deferred costs of $ 4.5 million were offset against the Company's IPO proceeds in additional paid in capital.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash and cash equivalents. Cash and cash equivalents are recorded at cost, which approximate fair value. As of December 31, 2021 and 2020, cash consists primarily of checking and savings deposits. The Company’s cash balances exceed those that are federally insured. To date, the Company has not recognized any losses caused by uninsured balances.
Accounts Receivable and Provision for Doubtful Accounts	Accounts Receivable and Provision for Doubtful Accounts Accounts receivable are stated at invoiced amounts, net of estimated provisions for doubtful accounts. The majority of customers are not extended credit and, therefore, time to maturity for receivables is short. The Company makes estimates of the collectability of customer accounts and provisions based primarily on analysis of historical trends and experience and changes in customers’ financial condition. The Company uses its judgment, based on the best available facts and circumstances, and records a provision against amounts due to reduce the receivable to the amount that is expected to be collected. These specific provisions are reevaluated and adjusted as additional information is received that impacts the amount reserved. To date, the Company has not experienced material credit-related losses. The provision for doubtful accounts was $ 0.6 million and $ 0.3 million as of December 31, 2021 and 2020, respectively.
Inventory	Inventory Inventory represents finished goods purchased from a third-party manufacturer and is valued at the lower of cost or net realizable value. Cost is determined using actual costs on a first-in, first-out basis for all inventory. Net realizable value is determined as the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. The Company regularly reviews inventory quantities in consideration of actual loss experiences, projected future demand, and remaining shelf life to record a provision for excess and obsolete inventory when appropriate. The Company’s policy is to write down inventory that has become obsolete, inventory that has a cost basis in excess of its expected lower of cost or net realizable value, and inventory in excess of expected requirements. The estimate of excess quantities is judgmental and primarily dependent on the Company’s estimates of future demand for the particular product.
Property, Plant and Equipment	Property and Equipment, net Property and equipment are recorded at cost, less accumulated depreciation. Repairs and maintenance costs are expensed as incurred. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets, typically two to five years . When assets are retired or otherwise disposed of, the cost and accumulated depreciation are removed from the balance sheet and any resulting gain or loss is reflected in operations in the period realized. Construction-in-process assets consist primarily of tools and equipment that have not yet been placed in service. These assets are stated at cost and are not depreciated. Once the assets are placed into service, assets are reclassified to the appropriate asset class based on their nature and depreciated in accordance with the useful lives above.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets The Company assesses long-lived assets, including property and equipment, whenever events or changes in business circumstances indicate that the carrying amount of the assets may not be fully recoverable. If indicators of impairment exist, an impairment loss may be recognized when estimated undiscounted future cash flows expected to result from the use of the assets and their eventual disposition are less than their carrying amount. Impairment, if any, is measured as the amount by which the carrying amount of the long-lived assets exceeds their fair value. Fair value is determined through various valuation techniques, including discounted cash flow models, quoted market values, and third-party independent appraisals, as considered necessary. The Company did no t record any impairment of long-lived assets for the years ended December 31, 2021 and 2020.
Leases	Leases Contractual arrangements that meet the definition of a lease are classified as operating or finance leases and are recorded on the balance sheets as both a right-of-use asset (“ROU asset”) and lease liability, calculated by discounting fixed lease payments over the lease term at the Company’s incremental borrowing rate (“IBR”). Lease ROU assets and lease obligations are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. The Company currently does not have any finance leases. Operating lease ROU assets are adjusted for (i) payments made at or before the commencement date, (ii) initial direct costs incurred, and (iii) tenant incentives under the lease. As the implicit rates for the operating leases are not determinable, the Company uses an IBR based on the information available at the respective lease commencement dates to determine the present value of future payments. IBR represents the interest rate that the Company would expect to incur at lease commencement to borrow an amount equal to the lease payments on a collateralized basis with similar terms and payments, in an economic environment where the leased asset is located. The Company considers a lease term to be the noncancelable period that it has the right to use the underlying asset, including any periods where it is reasonably certain the Company will exercise any option to extend the contract. Lease costs for minimum lease payments for operating leases are recognized on a straight-line basis over the lease term. Lease liabilities are increased by interest and reduced by payments each period, and the ROU asset is amortized over the lease term. Variable lease payments that do not depend on an index or rate are recognized as lease costs when incurred. In measuring the ROU assets and lease liabilities, the Company has elected to combine lease and non-lease components. The Company does not recognize ROU assets or lease liabilities for short-term leases, if any, having initial terms of 12 months or less at lease commencement as an accounting policy election, and recognizes rent expense on a straight-line basis over the lease term for these types of leases.
Redeemable Convertible Preferred Stock Warrants	Redeemable Convertible Preferred Stock Warrants The Company’s redeemable convertible preferred stock warrants were classified as liabilities as the underlying redeemable convertible preferred stock was considered contingently redeemable and the Company was obligated to transfer assets to the holders upon occurrence of a deemed liquidation event. The warrants were recorded at fair value upon issuance and subject to remeasurement to fair value at each balance sheet date, with changes in fair value recognized as other expense in the statements of operations. The warrants liability was recorded as other noncurrent liabilities in the balance sheets. The Company continued to adjust the warrant liability for changes in fair value until the conversion of redeemable convertible preferred stock into common stock. At the time of conversion, the liability associated with the redeemable convertible preferred stock warrants was converted into warrants to purchase common stock and reclassified to additional paid-in capital. As a result of the conversion in the current year, the redeemable convertible preferred stock warrant liability was settled and will no longer be subject to remeasurement. Redeemable Convertible Preferred Stock The Company recorded its redeemable convertible preferred stock at fair value on the dates of issuance, net of issuance costs. A redemption event will be deemed to have occurred upon the liquidation or winding-up of the Company, a greater than 50% change in control, or sale of substantially all of the assets of the Company. In the event of a change of control of the Company, proceeds received from the sale of such shares will be distributed in accordance with the liquidation preferences set forth in the Company’s amended and restated certificate of incorporation, unless the holders of redeemable convertible preferred stock otherwise agree or have converted their shares into shares of common stock. Therefore, redeemable convertible preferred stock was classified outside of stockholders’ equity in the balance sheets, as events triggering the liquidation preferences are not solely within the Company’s control. During the current year, the holders of the redeemable convertible preferred stock agreed to have their shares converted into shares of common stock. At the time of conversion, the balances were reclassified to common stock and additional paid-in capital.
Common Stock Warrant	Common Stock Warrant The Company’s common stock warrant is classified in equity as it meets all criteria for equity classification. The fair value of the common stock warrant was calculated using the BackSolve Method and is recorded at fair value upon issuance in additional paid-in capital in the consolidated balance sheets. The common stock warrant is not remeasured after the issuance date.
Revenue Recognition	Revenue Recognition 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: • Identify the contract with a customer, • Identify the performance obligations in the contract, • Determine the transaction price, • Allocate the transaction price to performance obligations in the contract, and • Recognize revenue as the performance obligations are satisfied. Revenue recognized during the years ended December 31, 2021 and 2020 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 ECPs throughout the United States through sales representatives and distributors. 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 discounted, 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. 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 statements of operations.
Cost Of Goods Sold	Cost of Goods Sold The Company purchases its products from third-party manufacturers. Cost of goods sold consists primarily of costs related to materials, manufacturing overhead costs, reserves for excess, and obsolete and non-sellable inventories. Cost of goods sold also includes depreciation expense for production equipment and certain direct costs, such as shipping and handling costs.
Research and Development	Research and Development The Company expenses research and development costs as incurred. Research and development expenses consist primarily of product development, clinical studies to develop and support the Company’s products, regulatory expenses, medical affairs, and other costs associated with products and technologies that are in development. Research and development expenses include employee compensation, including stock-based compensation, supplies, consulting, prototyping, testing, materials, travel expenses, depreciation, and an allocation of facility overhead expenses.
Selling, General and Administrative Expense	Selling, General and Administrative Selling, general and administrative expenses include compensation, employee benefits, and stock-based compensation for executive management, finance administration, and human resources; facility costs (including rent); bad debt costs; professional service fees; and other general overhead costs, including depreciation to support the Company’s operations.
Advertising Expense	Advertising Expense The Company expenses advertising costs as incurred. Advertising expenses for fiscal years 2021 and 2020 were $ 2.1 million and $ 0.8 million, respectively, included in selling, general, and administrative expenses in the statements of operations and comprehensive loss.
Accounting for Payroll Protection Program	Accounting for Payroll Protection Program In March 2020, Congress established the Paycheck Protection Program (“PPP”) to provide relief to small businesses during COVID-19 as part of the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act. The legislation authorized the U.S. Treasury to use the Small Business Association’s (“SBA’s”) small business lending program to fund forgivable loans that qualifying businesses could spend to cover payroll, mortgage interest, rent, and utilities during the “Covered Period” defined as the 8-week period starting on the date the PPP loan proceeds are received. Upon meeting certain criteria as specified in the PPP program, the loans are eligible for partial or total forgiveness. In May 2020, the Company applied for and received a PPP loan for the amount $ 2.2 million from SBA. The PPP loan was fully forgiven in June 2021. U.S. GAAP does not contain authoritative accounting standards for forgivable loans provided by governmental entities to a for-profit entity. Absent authoritative accounting standards, interpretative guidance issued and commonly applied by financial statement preparers allows for the selection of accounting policies amongst acceptable alternatives. The Company determined it most appropriate to account for the PPP loan proceeds as an in-substance government grant by analogy to International Accounting Standards 20 (“IAS 20”) Accounting for Government Grants and Disclosure of Government Assistance . Under this guidance, a forgivable loan from government is treated as a government grant when there is reasonable assurance that the entity will meet the terms for forgiveness of the loan. While IAS 20 does not define “reasonable assurance”, this concept in practice is analogous to “probable” as defined in Financial Accounting Standards Board (“FASB”) ASC 450-20-20 under U.S. GAAP, which is the definition the Company has applied to its expectations of PPP loan forgiveness. Under IAS 20, government grants are recognized in earnings on a systematic basis over the periods in which the Company recognizes costs for which the grant is intended to compensate (i.e. qualified expenses). Further, IAS 20 permits for the recognition in earnings either separately under a general heading such as other income, or as a reduction of the related expenses. The Company has elected to recognize this government grant income as a reduction of the related expenses, and recognized $ 0.1 million, $ 0.3 million and $ 1.8 million as a reduction of cost of revenue, research and development and selling, general and administrative expenses, respectively for the year ended December 31, 2020.
Stock-Based Compensation	Stock-Based Compensation The Company measures and records the expense related to stock-based payment awards based on the fair value of those awards as determined on the date of grant. The Company recognizes stock-based compensation expense over the requisite service period of the individual grant, generally equal to the vesting period and uses the straight- line method to recognize stock-based compensation, and accounts for forfeitures as they occur. The Company selected the Black-Scholes-Merton (“Black-Scholes”) option-pricing model as the method for determining the estimated fair value for stock options. The Black-Scholes option-pricing model requires the use of highly subjective and complex assumptions, which determine the fair value of share-based awards, including the option’s expected term, expected volatility of the underlying stock, risk-free interest rate and expected dividend yield.
Currency Remeasurement	Currency Remeasurement Foreign currency transaction gains and losses are recorded in other expense, net in the Company’s statements of operations and such amounts have not been material for all periods presented.
Income Tax	Income Taxes The Company uses the asset and liability method of accounting for income taxes. Under this method, deferred tax assets and liabilities are determined based on the differences between the financial reporting and the tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. Management makes an assessment of the likelihood that the resulting deferred tax assets will be realized. A valuation allowance is provided when it is more likely than not that some portion or all off a deferred tax asset will not be realized. Due to the Company's historical operating performance and the recorded cumulative net losses in prior fiscal periods, the net deferred tax assets have been fully offset by a valuation allowance. The Company recognizes uncertain income tax positions at the largest amount that is more likely than not to be sustained upon audit by relevant taxing authority. An uncertain income tax position will not be recognized if it has less than a 50% likelihood of being sustained. Changes in recognition or measurement are reflected in the period in which judgment occurs. The Company's policy is to recognize interest and penalties related to the underpayment of income tax as a component of provision for income taxes.
Comprehensive Income	Comprehensive Loss Comprehensive loss represents all changes in stockholders’ deficit except those resulting from distributions to stockholders. There have been no items qualifying as other comprehensive income (loss) and, therefore, for all periods presented, there was no difference between comprehensive loss and the Company’s reported net loss.
Net loss per share attributable to common stockholders	Net loss per share attributable to common stockholders Basic and diluted net loss per share attributable to common stockholders is presented in conformity with the two-class method required for participating securities. The Company considers all series of its redeemable convertible preferred stock and restricted stock awards to be participating securities as the holders are entitled to receive dividends on a pari passu basis in the event that a dividend is paid on common stock. Under the two-class method, the net loss attributable to common stockholders is not allocated to the redeemable convertible preferred stock or restricted stock awards as the holders of the Company’s redeemable convertible preferred stock and restricted stock awards do not have a contractual obligation to share in losses. Basic and diluted net loss per share attributable to common stockholders is computed by dividing the net loss attributable to common stockholders by the weighted-average number of common shares outstanding for the period without consideration of potentially dilutive securities. The Company’s potentially dilutive shares, which consist of outstanding common stock options, restricted stock awards, common stock warrants, redeemable convertible preferred stock and redeemable convertible preferred stock warrants were excluded in the computation of diluted net loss per share for the period as the result would be anti-dilutive.
Emerging Growth Company	Emerging growth company and smaller reporting company The Company is an “emerging growth company” as defined in the Jumpstart Our Business Startups Act of 2012, as well as a "smaller reporting company, as defined by the Securities and Exchange Commission per Rule 12b-2 of the Exchange Act. As such the Company is eligible for exemptions from various reporting requirements applicable to other public companies that are not emerging growth companies, including reduced reporting and extended transition periods to comply with new or revised accounting standards for public business entities. The Company has elected to avail themselves of this exemption and, therefore, will not be subject to the timeline for adopting new or revised accounting standards for public business entities that are not emerging growth companies, and will follow the transition guidance applicable to private companies.
New Accounting Pronouncements Not Yet Adopted	Accounting Pronouncements Not Yet Adopted In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments , which amends the impairment model by requiring entities to use a forward-looking approach based on expected losses to estimate credit losses on certain types of financial instruments, including trade receivables and available-for-sale debt securities. The guidance is effective for the Company beginning in the first quarter of 2023. The Company is evaluating the impact of adopting this guidance and does not expect to have a material impact on the Company’s financial statements and related disclosures. In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes , that simplifies the accounting for income taxes by eliminating certain exceptions related to the approach for intra-period tax allocation and modified the methodology for calculating income taxes in an interim period. It also clarifies and simplifies other aspects of the accounting for income taxes. The guidance is effective for the Company for fiscal years beginning after December 15, 2021, and interim periods within fiscal years beginning after December 15, 2022 with early adoption permitted. The Company is evaluating the effect of this new guidance and does not expect it to have material impact on the Company’s financial statements. In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting . The new guidance provides optional expedients and exceptions for applying generally accepted accounting principles to contract modifications and hedging relationships, subject to meeting certain criteria, that reference LIBOR or another reference rate expected to be discontinued. The guidance also establishes (1) a general contract modification principle that entities can apply in other areas that may be affected by reference rate reform and (2) certain elective hedge accounting expedients. The amendment is effective for all entities through December 31, 2022. LIBOR is used to calculate the interest on borrowings under the Company’s term loan and revolving line of credit with MidCap Financial Services. The Company is evaluating the effect of this new guidance and does not expect it to have material impact on the Company’s financial statements.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2021
Financial Liabilities Measured on Recurring Basis	As of December 31, 2021, there were no liabilities that are measured at fair value on a recurring basis. The following table sets forth the fair value measurements of financial liabilities as of December 31, 2020 (in thousands): As of December 31, 2020 Level 1 Level 2 Level 3 Total Liabilities: Redeemable convertible preferred stock warrants liabilities $ — $ — $ 2,112 $ 2,112 Total liabilities measured at fair value $ — $ — $ 2,112 $ 2,112
Fair Value, Inputs, Level 3
Summary of Changes in Level 3 Fair Value Instruments	A summary of the changes in the fair value of the Company’s Level 3 financial instruments for the years ended December 31, 2021 and 2020, is as follows (in thousands): Redeemable convertible preferred stock warrants liabilities Balance – December 31, 2019 $ 236 Issuance of redeemable convertible preferred stock warrants 1,812 Change in fair value 136 Expiration of redeemable convertible preferred stock warrants ( 72 ) Balance – December 31, 2020 2,112 Change in fair value 6,861 Conversion of preferred stock warrants to common stock warrants upon the closing of the IPO ( 8,973 ) Balance – December 31, 2021 $ —

Balance Sheet Components (Table

Balance Sheet Components (Tables)	12 Months Ended
	Dec. 31, 2021
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Summary of Property and Equipment, Net	Property and equipment, net consist of the following (in thousands): As of December 31, 2021 2020 Tools and equipment $ 1,685 $ 1,523 Computer equipment and software 100 118 Furniture and fixtures 254 43 Leasehold improvements 29 30 Construction in process 590 298 2,658 2,012 Less: Accumulated depreciation ( 1,204 ) ( 743 ) Property and equipment, net $ 1,454 $ 1,269
Summary of Accrued and Other Current Liabilities	Accrued and other current liabilities consist of the following (in thousands): As of December 31, 2021 2020 Accrued expenses $ 2,726 $ 1,971 Current portion of lease liabilities 510 395 Short term interest payable 275 274 Other accrued liabilities 655 446 Total accrued and other current liabilities $ 4,166 $ 3,086
Summary of Other Noncurrent Liabilities	Other noncurrent liabilities consist of the following (in thousands): As of December 31, 2021 2020 Redeemable preferred stock warrants liabilities $ — $ 2,112 Long term interest payable 841 465 Noncurrent portion of lease liabilities 1,040 134 Other noncurrent liabilities 38 344 Total other noncurrent liabilities $ 1,919 $ 3,055

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
Schedule of Long-term and Short-term Debt	Long-term and short-term debt as of December 31, 2021 and 2020 was as follows (in thousands): As of December 31, 2021 2020 2020 Term Loan $ 35,000 $ 35,000 Total principal payments due 35,000 35,000 Less: debt discount related to warrant liability and issuance costs ( 2,344 ) ( 3,045 ) Total amounts outstanding 32,656 31,955 Less: Current portion — — Total accrued and other current liabilities $ 32,656 $ 31,955
Repayment Schedule Relating to the Company's Debt	The repayment schedule relating to the Company’s principal debt as of December 31, 2021, is as follows (in thousands): Amount 2022 — 2023 ( 1,458 ) 2024 ( 17,500 ) 2025 ( 16,042 ) Total repayments $ ( 35,000 )

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2021
Commitments And Contingencies Disclosure [Abstract]
Schedule of Operating Lease Expense Recognized and Supplemental Cash Flow	Operating lease expense and supplemental cash flow information related to operating leases for the years ended December 31, 2021 and 2020 were as follows (in thousands): Year Ended December 31, 2021 2020 Operating lease expense $ 702 $ 663 Cash paid for operating leases 657 694 New operating lease assets obtained in exchange for 1,537 —
Schedule of Aggregate Future Minimum Lease Payments	Aggregate future minimum lease payments at December 31, 2021 under these noncancelable operating leases was as follows (in thousands): As of December 31, 2021 2022 $ 693 2023 706 2024 462 Total future minimum lease payments $ 1,861 Less: imputed interest ( 311 ) Present value of future minimum lease payments $ 1,550 Less: current portion of operating lease liability ( 510 ) Operating lease liabilities - noncurrent $ 1,040

Redeemable Convertible Prefer_3

Redeemable Convertible Preferred Stock (Table)	12 Months Ended
	Dec. 31, 2021
Redeemable Convertible Preferred Stock [Abstract]
Summary Of Redeemable Convertible Preferred Stock Issued And Outstanding	The Company’s redeemable convertible preferred stock issued and outstanding at December 31, 2020 (in thousands, except share and per share data) were as follows: Shares Authorized Shares Issued and Outstanding Original Issuance Price Liquidation Amount Issuance Costs Carrying Value Series A 3,804,344 3,804,344 $ 1.38 $ 5,250 $ 9 $ 5,241 Series B 1,209,621 1,209,621 $ 5.79 7,000 106 6,894 Series C 2,372,371 2,342,857 $ 9.49 22,226 208 22,018 Series D 2,507,720 2,447,818 $ 12.56 30,750 647 30,103 Series E 1,921,902 1,899,847 $ 15.87 30,150 106 30,044 Series F 2,425,432 1,062,715 $ 21.88 23,250 219 23,031 14,241,390 12,767,202 $ 118,626 $ 1,295 $ 117,331

Redeemable Convertible Prefer_4

Redeemable Convertible Preferred Stock Warrants (Tables)	12 Months Ended
	Dec. 31, 2021
2019 Warrants [Member]
Class Of Warrant Or Right [Line Items]
Schedule of Fair Value of Warrants Calculated Using Blsck-Scholes Model	As of December 31, 2020, the estimated fair value of the warrants was $ 0.3 million. The fair value was calculated using the Black-Scholes option-pricing model with the following assumptions: December 31, 2020 Expected term (in years) 8.1 – 8.5 Expected volatility 42.18 % – 42.63 % Risk-free interest rate 2.33 % – 2.49 % Dividend yield –
2020 Warrants [Member]
Class Of Warrant Or Right [Line Items]
Schedule of Fair Value of Warrants Calculated Using Blsck-Scholes Model	The fair value of the redeemable convertible preferred stock warrants was determined using the following assumptions: December 31, 2020 Term (in years) 0.58 – 2.58 Expected volatility 55.9 % - 65.6 % Risk-free interest rate 0.08 % - 0.18 %

Common Stock (Tables)

Common Stock (Tables)	12 Months Ended
	Dec. 31, 2021
Equity [Abstract]
Schedule of Reserved Common Stock for Future Issuances	At December 31, 2021 and December 31, 2020, the Company had reserved common stock for future issuances as follows: December 31, 2021 2020 Redeemable convertible preferred stock and warrants — 26,193,432 Common stock options issued and outstanding 4,996,945 3,137,776 Common stock available for future grant 5,321,687 451,670 Restricted stock units outstanding 53,250 — Shares available for future purchase under ESPP 850,000 — 11,221,882 29,782,878

Equity Incentive Plans (Tables)

Equity Incentive Plans (Tables)	12 Months Ended
	Dec. 31, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Summary of Stock Option Activity	Number of Weighted-Average Exercise Price Weighted-Average Average Intrinsic Value Outstanding, December 31, 2020 3,137,776 $ 0.94 6.8 $ 18,656 Grants 2,487,253 11.35 Forfeited/cancelled ( 150,520 ) 3.77 Exercised ( 477,564 ) 0.78 Outstanding, December 31, 2021 4,996,945 $ 6.05 7.6 $ 58,420 Vested and exercisable as of December 31, 2021 2,098,249 $ 2.22 5.6 $ 32,268 Vested and expected to vest as of December 31, 2021 4,963,575 $ 6.09 7.6 $ 57,895
Summary of Weighted Average Valuation Assumptions Used to Estimate Fair Value of Employee Stock Options	The Company estimated the fair value of stock options using the Black-Scholes option-pricing model. The fair value of stock options is recognized on a straight-line basis over the requisite service periods of the awards. The fair value of stock options was estimated using the following weighted-average assumptions: Years ended December 31, 2021 2020 Expected term (in years) 4.99 – 6.18 5.85 - 6.08 Expected volatility 56.74 % – 61.08 % 48.27 %- 55.64 % Risk-free interest rate 0.47 % – 1.33 % 0.33 %- 1.77 % Dividend yield – –
Summary of restricted share award activity	The following table summarizes restricted share award activity: Number of Weighted-Average Grant Date Fair Value Per Share Outstanding, December 31, 2020 — $ — Grants 53,250 22.91 Forfeited/cancelled — — Vested — — Outstanding, December 31, 2021 53,250 $ 22.91
Summary of Stock-Based Compensation Expense by Function	The following is a summary of stock-based compensation expense by function (in thousands): Years Ended December 31, 2021 2020 Cost of goods sold $ 71 $ 20 Research and development 495 84 Selling, general and administrative 4,517 393 Total stock-based compensation expense $ 5,083 $ 497

Net Loss per Share Attributab_2

Net Loss per Share Attributable to Common Stockholders (Tables)	12 Months Ended
	Dec. 31, 2021
Earnings Per Share [Abstract]
Schedule of Computation of Basic and Diluted Net Loss per Share Attributable to Common Stockholders	The following table sets forth the computation of basic and diluted net loss per share attributable to common stockholders (in thousands, except share and per share data): Year Ended December 31, 2021 2020 Numerator: Net loss attributable to common stockholders $ ( 62,960 ) $ ( 34,693 ) Denominator: Weighted-average shares of common stock 26,734,097 9,356,218 Net loss per share attributable to common $ ( 2.36 ) $ ( 3.71 )
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following outstanding shares of potentially dilutive securities were excluded from the computation of diluted net loss per share attributable to common stockholders for the period presented because including them would have been antidilutive: December 31, 2021 2020 Redeemable convertible preferred stock — 12,767,202 Redeemable convertible preferred stock warrants — 329,514 Options to purchase common stock 4,996,945 3,137,776 Restricted stock units 53,250 — Total 5,050,195 16,234,492

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Schedule of Tax Effects of Temporary Differences and Deferred Tax Assets and Liabilities	The income tax effect of temporary differences that give rise to deferred tax assets and (liabilities) consist of the following (in thousands): December 31, 2021 2020 Deferred tax assets: Net operating loss carryforwards $ 35,186 $ 22,208 Deferred compensation 1,812 899 Research and development credits 1,497 1,071 Operating lease liability 405 138 Provision for bad debt 163 75 Provision for excess and obsolete inventories 28 282 Other 104 19 Gross deferred tax assets 39,195 24,692 Less: Valuation allowance ( 38,804 ) ( 24,543 ) Deferred tax assets, net of valuation allowance 391 149 Operating lease right-of-use assets ( 391 ) ( 135 ) Fixed Assets — ( 14 ) Deferred tax liabilities: ( 391 ) ( 149 ) Net deferred tax assets $ — $ —
Schedule of Income Tax Provision	he Company’s income tax provision for the years ended December 31, 2021 and 2020, consists of the following (in thousands): Current December 31, 2021 2020 Federal $ — $ 6 Foreign 16 — State 172 41 Provision (benefit) for income taxes $ 188 $ 47
Summery statutory federal income tax rate	The reconciliation of the statutory federal income tax rate to the Company’s effective tax rate is as follows (in thousands): December 31, 2021 2020 Tax at statutory federal rate 21 % 21 % State tax, net of federal benefit 5 % 5 % Research and development credit 1 % 1 % Change in valuation allowance ( 24 )% ( 27 )% Other ( 3 )% — Effective tax rate — —
Schedule of Unrecognized Tax Benefits Roll Forward	The following table summarizes the activity related to the unrecognized tax benefits (in thousands): December 31, 2021 2020 Unrecognized tax benefits at the beginning of the year $ 417 $ 304 Additions based on tax positions related to the current year 163 113 Additions for tax positions of prior years — — Unrecognized tax benefits at the end of the year $ 580 $ 417

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
	Dec. 31, 2021
Segment Reporting [Abstract]
Schedule of Segment Reporting Information	The following table summarizes select operating results information for each reportable segment (dollars in thousands): Year Ended December 31, 2021 2020 Revenue Surgical Glaucoma $ 46,496 $ 26,000 Dry Eye 2,460 1,640 Total 48,956 27,640 Cost of goods sold Surgical Glaucoma 6,473 7,069 Dry Eye 2,137 2,140 Total 8,610 9,209 Gross profit Surgical Glaucoma 40,023 18,931 Dry Eye 323 ( 500 ) Total 40,346 18,431 Operating expense 91,824 50,619 Loss from operations ( 51,478 ) ( 32,188 ) Interest income — 30 Interest expense ( 4,366 ) ( 2,403 ) Other expense, net ( 6,928 ) ( 71 ) Loss before income tax $ ( 62,772 ) $ ( 34,632 )

Company and Nature of Business

Company and Nature of Business - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	Jul. 31, 2021	Jul. 19, 2021	Dec. 31, 2021	Dec. 31, 2020
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Stock split	In July 2021, the Company effected a 2-for-1 stock split of its issued and outstanding shares of common stock and a proportional adjustment to the existing conversion ratios for each series of the Company’s redeemable convertible preferred stock.
Proceeds from initial public offering		$ 252,200	$ 256,680	$ 0
Conversion of redeemable convertible preferred stock		25,534,404	25,534,404
Common stock, shares authorized			200,000,000	21,831,000
Common stock, par value			$ 0.001	$ 0.001
Preferred stock, shares authorized			10,000,000	10,000,000
Preferred stock par value			$ 0.001	$ 0.001
Accumulated deficit			$ (153,001)	$ (90,041)
Net loss			$ (62,960)	(34,693)
IPO
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Sale of stock, price per share		$ 24
Underwriting discounts and commissions		$ 19,300
Estimated offering costs		$ 4,500		$ 400
Warrants to purchase common stock		659,028
Common stock, shares authorized	200,000,000
Common stock, par value	$ 0.001
Preferred stock, shares authorized	10,000,000
Preferred stock par value	$ 0.001
Common Stock | IPO
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Common stock issued		10,000,000
Conversion of redeemable convertible preferred stock			25,534,404
Common Stock | Underwriters' Option
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Common stock issued		1,500,000

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Additional Information (Details)	1 Months Ended	12 Months Ended
	May 31, 2020USD ($)	Dec. 31, 2021USD ($)Customer	Dec. 31, 2020USD ($)Customer	Jul. 31, 2021USD ($)
Subsidiary Sale Of Stock [Line Items]
Deferred Offering Costs			$ 400,000
Accounts Receivable, Allowance for Credit Loss		$ 600,000	300,000
Impairment Of Long Lived Assets		0	0
Advertising Expense		$ 2,100,000	800,000
Reduction In Cost Of Revenue			100,000
Amount covered by goverment grant			300,000
General and Administrative Expense			$ 1,800,000
PPP Loan
Subsidiary Sale Of Stock [Line Items]
Loan received	$ 2,200,000
Customer Concentration Risk [Member] | Revenue Benchmark [Member]
Subsidiary Sale Of Stock [Line Items]
Number Of Major Customers | Customer		0	0
Maximum [Member]
Subsidiary Sale Of Stock [Line Items]
Estimated useful live of assets		5 years
Minimum [Member]
Subsidiary Sale Of Stock [Line Items]
Estimated useful live of assets		2 years
Minimum [Member] | Customer Concentration Risk [Member] | Revenue Benchmark [Member]
Subsidiary Sale Of Stock [Line Items]
Concentration Risk Percentage		10.00%	10.00%
IPO
Subsidiary Sale Of Stock [Line Items]
Deferred Offering Costs				$ 4,500,000

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Fair Value Measurement Liabilities Measured On Recurring Basis (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Liabilities:
Total liabilities measured at fair value	$ 0	$ 32,000,000
Fair Value Recurring
Liabilities:
Total liabilities measured at fair value		2,112,000
Fair Value Recurring | Fair Value, Inputs, Level 3
Liabilities:
Total liabilities measured at fair value		2,112,000
Fair Value Recurring | Redeemable Convertible Preferred Stock
Liabilities:
Total liabilities measured at fair value		2,112,000
Fair Value Recurring | Redeemable Convertible Preferred Stock | Fair Value, Inputs, Level 3
Liabilities:
Total liabilities measured at fair value		$ 2,112,000

Fair value Measurement - Additi

Fair value Measurement - Additional Information (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total liabilities measured at fair value	$ 0	$ 32,000,000
Fair Value Recurring
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total liabilities measured at fair value		$ 2,112,000
Fair Value Recurring | Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Debt Instrument, Fair Value Amount	$ 32,700,000

Fair Value Measurements - Sum_2

Fair Value Measurements - Summary of Changes in Fair Value Level 3 Financial Liabilities (Details) - Fair Value, Inputs, Level 3 - Redeemable Convertible Preferred Stock Warrants - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Balance, Beginning balance	$ 2,112	$ 236
Issuance of redeemable convertible preferred stock warrants		1,812
Change in fair value	6,861	136
Expiration of redeemable convertible preferred stock warrants		(72)
Conversion of preferred stock warrants to common stock warrants upon the closing of the IPO	(8,973)
Balance - Ending balance	$ 0	$ 2,112

Balance Sheet Components - Summ

Balance Sheet Components - Summary of Property and Equipment, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Property Plant And Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 2,658	$ 2,012
Less: Accumulated depreciation	(1,204)	(743)
Property, Plant and Equipment, Net, Total	1,454	1,269
Tools and Equipment
Property Plant And Equipment [Line Items]
Property, Plant and Equipment, Gross	1,685	1,523
Computer Equipment and Software
Property Plant And Equipment [Line Items]
Property, Plant and Equipment, Gross	100	118
Furniture and Fixtures
Property Plant And Equipment [Line Items]
Property, Plant and Equipment, Gross	254	43
Leasehold Improvements
Property Plant And Equipment [Line Items]
Property, Plant and Equipment, Gross	29	30
Construction In Process
Property Plant And Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 590	$ 298

Balance Sheet Components - Addi

Balance Sheet Components - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Depreciation	$ 632	$ 554

Balance Sheet Components - Su_2

Balance Sheet Components - Summary of Accrued and Other Current Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Accrued expenses	$ 2,726	$ 1,971
Current portion of lease liabilities	$ 510	$ 395
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Liabilities Current	Liabilities Current
Short term interest payable	$ 275	$ 274
Other accrued liabilities	655	446
Total accrued and other current liabilities	$ 4,166	$ 3,086

Balance Sheet Components - Su_3

Balance Sheet Components - Summary of Other Noncurrent Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Redeemable preferred stock warrants liabilities	$ 0	$ 2,112
Long term interest payable	841	465
Noncurrent portion of lease liabilities	$ 1,040	$ 134
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other Liabilities, Noncurrent, Total	Other Liabilities, Noncurrent, Total
Other noncurrent liabilities	$ 38	$ 344
Other Liabilities, Noncurrent, Total	$ 1,919	$ 3,055

Debt - Additional Information (

Debt - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Jul. 19, 2021	Nov. 30, 2020	Jan. 31, 2019
Debt Instrument [Line Items]
Term Loan	$ 35,000,000
Preferred Stock, Shares Issued	0	0
Payments of Debt Issuance Costs	$ 0	$ 142,000
IPO
Debt Instrument [Line Items]
Warrants to purchase common stock			659,028
Senior Secured Twenty Twenty Term Loan
Debt Instrument [Line Items]
Debt Instrument, Term	5 years
Debt instrument, frequency of periodic payment	interest-only payments
Debt instrument interest payment extended term	24 months
Debt instrument payment terms	The 2020 Term Loan requires monthly interest-only payments, which began in December 2020. Principal payments are scheduled to begin in December 2022, however, the interest-only period can be extended by an additional 24 months provided that the Company is in compliance with certain financial covenants and other terms as defined in the MidCap Loan Agreements. The Company currently has the ability to and intends to extend the interest-only period through December 2023.
Debt instrument, effective interest rate	12.94%
Debt issuance costs	$ 500,000
Percentage of final payment fee	6.00%
Accrued Accretion On Maturity Payments	$ 900,000	$ 500,000
Senior Secured Twenty Twenty Term Loan | Series F Redeemable Convertible Preferred Stock
Debt Instrument [Line Items]
Warrants term	10 years
Warrants to purchase common stock	300,000
Class of warrant exercise price	$ 21.88
Fair value of warrants	$ 1,800,000
Senior Secured Twenty Twenty Term Loan | Tranche One Loans
Debt Instrument [Line Items]
Maximum borrowing capacity				$ 12,000,000
Senior Secured Twenty Twenty Term Loan | Tranche Two Loans
Debt Instrument [Line Items]
Maximum borrowing capacity				2,000,000
Senior Secured Twenty Twenty Term Loan | Tranche Three Loans
Debt Instrument [Line Items]
Maximum borrowing capacity				21,000,000
Term Loan				21,000,000
Senior Secured Twenty Twenty Term Loan | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Debt instrument, variable rate	7.00%
Revolving Credit Facility Two Thousand Twenty
Debt Instrument [Line Items]
Line of credit facility, unused capacity, commitment fee percentage	0.50%
Line of credit facility collateral fees	0.50%
Line of credit facility, commitment fee amount	$ 15,000,000
Line of credit facility, commitment fee description	An unused line fee of 0.5% is payable monthly based on the average unused balance and a collateral management fee of 0.5% is payable monthly based on the outstanding balance of the 2020 Revolver.
Line of Credit Facility, Current Borrowing Capacity	$ 5,000
Revolving Credit Facility Two Thousand Twenty | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Debt instrument, variable rate	4.50%
Mid Cap Financial Services
Debt Instrument [Line Items]
Maximum borrowing capacity				40,000,000	$ 25,000,000
Mid Cap Financial Services | Senior Secured Two Thousand Nineteen Term Loan
Debt Instrument [Line Items]
Maximum borrowing capacity					20,000,000
Mid Cap Financial Services | Senior Secured Twenty Twenty Term Loan
Debt Instrument [Line Items]
Maximum borrowing capacity				35,000,000
Mid Cap Financial Services | Revolving Credit Facility Two Thousand Nineteen
Debt Instrument [Line Items]
Maximum borrowing capacity					$ 5,000,000
Mid Cap Financial Services | Revolving Credit Facility Two Thousand Twenty
Debt Instrument [Line Items]
Maximum borrowing capacity				$ 5,000,000

Debt - Schedule of Long-term an

Debt - Schedule of Long-term and Short-term Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Principal payments due	$ 35,000	$ 35,000
Less: debt discount related to warrant liability and issuance costs	(2,344)	(3,045)
Total amounts outstanding	32,656	31,955
Less: Current portion	0	0
Total accrued and other current liabilities	32,656	31,955
2020 Term Loan [Member]
Debt Instrument [Line Items]
Principal payments due	$ 35,000	$ 35,000

Debt - Schedule Relating to the

Debt - Schedule Relating to the Company's Debt (Details) $ in Thousands	Dec. 31, 2021USD ($)
Debt Disclosure [Abstract]
2022	$ 0
2023	(1,458)
2024	(17,500)
2025	(16,042)
Total repayments	$ (35,000)

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) $ in Thousands	Feb. 05, 2021USD ($)	Dec. 31, 2021USD ($)ft²	Dec. 31, 2020USD ($)
Commitments And Contingencies Disclosure [Abstract]
Operating lease office space | ft²		10,823
Lease expiration date		Jul. 31, 2021
Lease commencement date	Aug. 1, 2021
Operating lease right-of-use assets	$ 1,500	$ 1,495	$ 518
Lease, borrowing rate	13.59%
Remaining lease term		2 years 7 months 6 days
Total base rent under lease agreement	$ 1,600
Operating lease term	37 months
Operating leases, rent expense		$ 702	$ 663

Commitments and Contingencies_2

Commitments and Contingencies - Schedule of Operating Lease Expense Recognized and Supplemental Cash Flow (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Commitments And Contingencies Disclosure [Abstract]
Operating lease expense	$ 702	$ 663
Cash paid for operating leases	657	694
New operating lease assets obtained in exchange for operating lease liabilities	$ 1,537	$ 0

Commitments and Contingencies_3

Commitments and Contingencies - Schedule of Aggregate Future Minimum Lease Payments (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Commitments And Contingencies Disclosure [Abstract]
2022	$ 693
2023	706
2024	462
Total future minimum lease payments	1,861
Less: imputed interest	(311)
Present value of future minimum lease payments	1,550
Less: current portion of operating lease liability	$ (510)	$ (395)
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Liabilities Current	Liabilities Current
Operating lease liabilities - noncurrent	$ 1,040	$ 134

Redeemable Convertible Prefer_5

Redeemable Convertible Preferred Stock - Summary of Redeemable Convertible Preferred Stock Issued and Outstanding (Details) - USD ($) $ / shares in Units, $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Series A
Class Of Stock [Line Items]
Shares Authorized		3,804,344
Shares Issued		3,804,344
Shares Outstanding		3,804,344
Original Issuance Price		$ 1.38
Liquidation Amount		$ 5,250
Issuance Costs		9
Carrying Value		$ 5,241
Series B
Class Of Stock [Line Items]
Shares Authorized		1,209,621
Shares Issued		1,209,621
Shares Outstanding		1,209,621
Original Issuance Price		$ 5.79
Liquidation Amount		$ 7,000
Issuance Costs		106
Carrying Value		$ 6,894
Series c
Class Of Stock [Line Items]
Shares Authorized		2,372,371
Shares Issued		2,342,857
Shares Outstanding		2,342,857
Original Issuance Price		$ 9.49
Liquidation Amount		$ 22,226
Issuance Costs		208
Carrying Value		$ 22,018
Series D
Class Of Stock [Line Items]
Shares Authorized		2,507,720
Shares Issued		2,447,818
Shares Outstanding		2,447,818
Original Issuance Price		$ 12.56
Liquidation Amount		$ 30,750
Issuance Costs		647
Carrying Value		$ 30,103
Series E Preferred Stock
Class Of Stock [Line Items]
Shares Authorized		1,921,902
Shares Issued		1,899,847
Shares Outstanding		1,899,847
Original Issuance Price		$ 15.87
Liquidation Amount		$ 30,150
Issuance Costs		106
Carrying Value		$ 30,044
Series F Preferred Stock
Class Of Stock [Line Items]
Shares Authorized		2,425,432
Shares Issued		1,062,715
Shares Outstanding		1,062,715
Original Issuance Price		$ 21.88
Liquidation Amount		$ 23,250
Issuance Costs		219
Carrying Value		$ 23,031
Redeemable Convertible Preferred Stock
Class Of Stock [Line Items]
Shares Authorized		14,241,390
Shares Issued		12,767,202
Shares Outstanding	0	12,767,202	9,804,640
Liquidation Amount		$ 118,626
Issuance Costs		1,295
Carrying Value	$ 0	$ 117,331	$ 64,256

Redeemable Convertible Prefer_6

Redeemable Convertible Preferred Stock - Additional Information (Details) - USD ($) $ in Thousands	Jul. 19, 2021	Dec. 31, 2021
Class Of Stock [Line Items]
Conversion of redeemable convertible preferred stock to common stock upon initial public offering, Shares	25,534,404	25,534,404
Reclassification of the related redeemable convertible preferred stock		$ 117,300
Redeemable Convertible Preferred Stock
Class Of Stock [Line Items]
Redeemable convertible preferred stock outstanding		$ 0

Common Stock Warrants - Additio

Common Stock Warrants - Additional Information (Details) - Series A redeemable convertible preferred stock - $ / shares	Dec. 31, 2020	Sep. 30, 2011
Class Of Stock [Line Items]
Warrants to purchase common stock		129,310
Class of warrant exercise price		$ 0.05
Warrant outstanding	0

Redeemable Convertible Prefer_7

Redeemable Convertible Preferred Stock Warrants - Additional Information (Details) $ / shares in Units, $ in Millions	1 Months Ended
	Aug. 31, 2021shares	Dec. 31, 2020USD ($)	Nov. 30, 2020USD ($)$ / sharesshares
2019 Warrants [Member]
Class Of Warrant Or Right [Line Items]
Warrants fair value | $		$ 0.3
2019 Warrants [Member] | Measurement Input Expected Dividend Rate
Class Of Warrant Or Right [Line Items]
Alternative investment, measurement input		0
2020 Warrants [Member]
Class Of Warrant Or Right [Line Items]
Warrants to purchase common stock			600,000
Warrants fair value | $		$ 1.8	$ 1.8
Warrants issued to purchase shares of convertible preferred stock			600,000
2020 Warrants [Member] | Common Stock
Class Of Warrant Or Right [Line Items]
Share of common stock issued upon warrant exercised	431,708
2020 Warrants [Member] | Series F Redeemable Convertible Preferred Stock
Class Of Warrant Or Right [Line Items]
Warrants to purchase common stock			300,000
Class of warrant exercise price | $ / shares			$ 21.88
Warrants term			10 years
Warrants issued to purchase shares of convertible preferred stock			300,000

Redeemable Convertible Prefer_8

Redeemable Convertible Preferred Stock Warrants - Calculation Assumption of Fair Value of Warrants Using Black-Scholes Option Pricing Model (Details) - 2019 Warrants [Member]	Dec. 31, 2020
Measurement Input Expected Term | Minimum [Member]
Class Of Warrant Or Right [Line Items]
Warrants term	8 years 1 month 6 days
Measurement Input Expected Term | Maximum [Member]
Class Of Warrant Or Right [Line Items]
Warrants term	8 years 6 months
Measurement Input Price Volatility | Minimum [Member]
Class Of Warrant Or Right [Line Items]
Alternative investment, measurement input	42.18
Measurement Input Price Volatility | Maximum [Member]
Class Of Warrant Or Right [Line Items]
Alternative investment, measurement input	42.63
Measurement Input Risk Free Interest Rate | Minimum [Member]
Class Of Warrant Or Right [Line Items]
Alternative investment, measurement input	2.33
Measurement Input Risk Free Interest Rate | Maximum [Member]
Class Of Warrant Or Right [Line Items]
Alternative investment, measurement input	2.49
Measurement Input Expected Dividend Rate
Class Of Warrant Or Right [Line Items]
Alternative investment, measurement input	0

Redeemable Convertible Prefer_9

Redeemable Convertible Preferred Stock Warrants - Assumption Used To Determined Redeemable Convertible Preferred Stock Fair Value (Details) - 2020 Warrants [Member]	Dec. 31, 2020
Minimum [Member]
Class Of Warrant Or Right [Line Items]
Term (in years)	6 months 29 days
Minimum [Member] | Measurement Input Price Volatility
Class Of Warrant Or Right [Line Items]
Alternative investment, measurement input	55.9
Minimum [Member] | Measurement Input Risk Free Interest Rate
Class Of Warrant Or Right [Line Items]
Alternative investment, measurement input	0.08
Maximum [Member]
Class Of Warrant Or Right [Line Items]
Term (in years)	2 years 6 months 29 days
Maximum [Member] | Measurement Input Price Volatility
Class Of Warrant Or Right [Line Items]
Alternative investment, measurement input	65.6
Maximum [Member] | Measurement Input Risk Free Interest Rate
Class Of Warrant Or Right [Line Items]
Alternative investment, measurement input	0.18

Common Stock - Additional Infor

Common Stock - Additional Information (Details)	12 Months Ended
	Dec. 31, 2021USD ($)Vote$ / sharesshares	Jul. 31, 2021$ / sharesshares	Dec. 31, 2020$ / sharesshares
Subsidiary Sale Of Stock [Line Items]
Common stock, shares authorized | shares	200,000,000		21,831,000
Common stock, par value | $ / shares	$ 0.001		$ 0.001
Preferred stock, shares authorized | shares	10,000,000		10,000,000
Preferred stock par value | $ / shares	$ 0.001		$ 0.001
Dividends declared | $	$ 0
Number of votes entitled per share of common stock | Vote	1
IPO
Subsidiary Sale Of Stock [Line Items]
Common stock, shares authorized | shares		200,000,000
Common stock, par value | $ / shares		$ 0.001
Preferred stock, shares authorized | shares		10,000,000
Preferred stock par value | $ / shares		$ 0.001

Common Stock - Schedule of Rese

Common Stock - Schedule of Reserved Common Stock for Future Issuances (Details) - shares	Dec. 31, 2021	Dec. 31, 2020
Redeemable convertible preferred stock and warrants	11,221,882	29,782,878
Redeemable convertible preferred stock and warrants
Redeemable convertible preferred stock and warrants	0	26,193,432
Common stock options issued and outstanding
Redeemable convertible preferred stock and warrants	4,996,945	3,137,776
Common stock available for future grant
Redeemable convertible preferred stock and warrants	5,321,687	451,670
Restricted stock units outstanding
Redeemable convertible preferred stock and warrants	53,250	0
Shares available for future purchase under ESPP
Redeemable convertible preferred stock and warrants	850,000	0

Equity Incentive Plans - Additi

Equity Incentive Plans - Additional Details (Detail) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Jul. 31, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Redeemable convertible preferred stock and warrants	11,221,882	29,782,878
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 11.35	$ 2.90
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value	$ 7,300
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount	$ 23,300
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition	3 years 3 months 14 days
Dividend yield	0.00%	0.00%
Number of Shares, Granted	2,487,253
Weighted-Average Exercise Price, Grants	$ 11.35
Stock-based compensation expense	$ 5,083	$ 497
Restricted Stock Units (RSUs)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount		$ 1,200
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition	3 years 9 months
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	4 years
Employee Benefits and Share-based Compensation	$ 100
Two Thousand And Twenty One Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Redeemable convertible preferred stock and warrants			5,200,000
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	5,321,687
Two Thousand Twenty One Employee Stock Purchase Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Redeemable convertible preferred stock and warrants			850,000
Stock-based compensation expense	$ 0
Two Thousand And Eleven Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant		451,670

Equity Incentive Plans - Summar

Equity Incentive Plans - Summary of Company stock Option Activity (Detail) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Number of Shares	3,137,776
Number of Shares, Granted	2,487,253
Number of Shares, Forfeited/cancelled	(150,520)
Number of Shares, Exercised	(477,564)
Number of Shares	4,996,945	3,137,776
Vested and exercisable as of December 31, 2021	2,098,249
Vested and expected to vest as of December 31, 2021	4,963,575
Weighted-Average Exercise Price	$ 0.94
Weighted-Average Exercise Price, Grants	11.35
Weighted-Average Exercise Price, Forfeited/cancelled	3.77
Weighted-Average Exercise Price, Exercised	0.78
Weighted-Average Exercise Price	6.05	$ 0.94
Weighted-Average Exercise Price, Vested and exercisable	2.22
Weighted-Average Exercise Price, Expected to vest	$ 6.09
Weighted Average Remaining Contractual Term	7 years 7 months 6 days	6 years 9 months 18 days
Weighted average contractual term, vested and exercisable	5 years 7 months 6 days
Weighted average contractual term, vested and expected	7 years 7 months 6 days
Average Intrinsic Value	$ 18,656
Average Intrinsic Value	58,420	$ 18,656
Average Intrinsic Value, Vested and exercisable as of December 31, 2021	32,268
Average Intrinsic Value, Vested and expected as of December 31, 2021	$ 57,895

Equity Incentive Plans - Summ_2

Equity Incentive Plans - Summary of Stock Based Compensation Fair Value Assumptions (Details)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Dividend yield	0.00%	0.00%
Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term (in years)	4 years 11 months 26 days	5 years 10 months 6 days
Expected volatility	56.74%	48.27%
Risk-free interest rate	0.47%	0.33%
Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term (in years)	6 years 2 months 4 days	6 years 29 days
Expected volatility	61.08%	55.64%
Risk-free interest rate	1.33%	1.77%

Equity Incentive plans - Summ_3

Equity Incentive plans - Summary of restricted share award activity (Details) - Restricted Stock Units (RSUs)	12 Months Ended
	Dec. 31, 2021$ / sharesshares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares, Grants | shares	53,250
Number of shares | shares	53,250
Weighted Average Grant Date Fair Value, Grants | $ / shares	$ 22.91
Weighted Average Grant Date Fair Value, Ending Balance | $ / shares	$ 22.91

Equity Incentive Plans - Summ_4

Equity Incentive Plans - Summary of Share-Based Compensation Expense By Function (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation expense	$ 5,083	$ 497
Cost of goods sold
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation expense	71	20
Research and Development Expense
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation expense	495	84
Selling, General and Administrative Expenses
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation expense	$ 4,517	$ 393

Net Loss per Share Attributab_3

Net Loss per Share Attributable to Common Stockholders - Schedule of Computation of Basic and Diluted Net Loss per Share Attributable to Common Stockholders (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Numerator:
Net loss and comprehensive loss	$ (62,960)	$ (34,693)
Denominator:
Weighted-average shares outstanding, basic and diluted	26,734,097	9,356,218
Net loss per share attributable to common stockholders, basic and diluted	$ (2.36)	$ (3.71)

Net Loss per Share Attributab_4

Net Loss per Share Attributable to Common Stockholders - Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Redeemable convertible preferred stock	5,050,195	16,234,492
Restricted Stock Units (RSUs)
Redeemable convertible preferred stock	53,250	0
Redeemable Convertible Preferred Stock
Redeemable convertible preferred stock	0	12,767,202
Redeemable Convertible Preferred Stock Warrants
Redeemable convertible preferred stock	0	329,514
Options to Purchase Common Stock
Redeemable convertible preferred stock	4,996,945	3,137,776

Income Taxes - Schedule of Inco

Income Taxes - Schedule of Income Tax Provision (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Federal		$ 6
Foreign	16
State	172	41
Provision (benefit) for income taxes	$ 188	$ 47

Income Taxes - Schedule of Tax

Income Taxes - Schedule of Tax Effects of Temporary Differences and Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Deferred tax assets:
Net operating loss carryforwards	$ 35,186	$ 22,208
Deferred compensation	1,812	899
Research and development credits	1,497	1,071
Operating lease liability	405	138
Provision for bad debt	163	75
Provision for excess and obsolete inventories	28	282
Other	104	19
Gross deferred tax assets	39,195	24,692
Less: Valuation allowance	(38,804)	(24,543)
Deferred tax assets, net of valuation allowance	391	149
Operating lease right-of-use assets	(391)	(135)
Fixed assets		(14)
Deferred tax liabilities:	(391)	(149)
Net deferred tax assets	$ 0	$ 0

Income Taxes - Schedule of Effe

Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Details)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Tax at statutory federal rate	21.00%	21.00%
State tax, net of federal benefit	5.00%	5.00%
Research and development credit	1.00%	1.00%
Change in valuation allowance	(24.00%)	(27.00%)
Other	(3.00%)
Effective tax rate	0.00%	0.00%

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Operating Loss Carryforwards [Line Items]
Unrecognized Tax Benefits	$ 600	$ 400
Research and development credits	1,497	1,071
Deferred Tax Assets, Valuation Allowance	38,804	24,543
Domestic Tax Authority
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	136,800	85,300
Operating Loss Carryforwards, Valuation Allowance	14,800
Research and development credits	1,200	800
State and Local Jurisdiction
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	126,600	83,500
Research and development credits	$ 900	$ 900

Income Taxes - Schedule of Unre

Income Taxes - Schedule of Unrecognized Tax Benefits Roll Forward (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Unrecognized tax benefits at the beginning of the year	$ 417	$ 304
Additions based on tax positions related to the current year	163	113
Additions for tax positions of prior years	0	0
Unrecognized tax benefits at the end of the year	$ 580	$ 417

Segment Information - Additiona

Segment Information - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2021Segment
Segment Reporting [Abstract]
Number of Reportable Segments	2

Segment Information - Summary o

Segment Information - Summary of Operating Result Information for Each Reportable Segment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Revenue
Revenue	$ 48,956	$ 27,640
Cost of goods sold
Cost of goods sold	8,610	9,209
Gross profit
Gross profit	40,346	18,431
Operating expense	(91,824)	(50,619)
Loss from operations	(51,478)	(32,188)
Interest income		30
Interest expense	(4,366)	(2,403)
Other expense, net	(6,928)	(71)
Loss before income taxes	(62,772)	(34,632)
Surgical Glaucoma
Revenue
Revenue	46,496	26,000
Cost of goods sold
Cost of goods sold	6,473	7,069
Gross profit
Gross profit	40,023	18,931
Dry Eye
Revenue
Revenue	2,460	1,640
Cost of goods sold
Cost of goods sold	2,137	2,140
Gross profit
Gross profit	$ 323	$ (500)