NasdaqCM:EYES

Stock Analysis Report

Second Sight Medical Products

Executive Summary

Second Sight Medical Products, Inc. develops, manufactures, and markets implantable visual prosthetics that are intended to deliver artificial vision to blind individuals.


Snowflake Analysis

Adequate balance sheet and fair value.


Similar Companies

Share Price & News

How has Second Sight Medical Products's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: EYES's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-52.9%

EYES

11.3%

US Medical Equipment

5.3%

US Market


1 Year Return

-82.7%

EYES

-4.5%

US Medical Equipment

-10.7%

US Market

Return vs Industry: EYES underperformed the US Medical Equipment industry which returned -5% over the past year.

Return vs Market: EYES underperformed the US Market which returned -10.4% over the past year.


Shareholder returns

EYESIndustryMarket
7 Day-52.9%11.3%5.3%
30 Day-73.6%-8.5%-13.6%
90 Day-80.8%-15.6%-19.8%
1 Year-82.7%-82.7%-3.8%-4.5%-8.9%-10.7%
3 Year-87.8%-87.8%47.0%43.0%15.5%8.0%
5 Year-98.9%-98.9%78.8%60.2%35.2%20.4%

Price Volatility Vs. Market

How volatile is Second Sight Medical Products's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Second Sight Medical Products undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: EYES ($1.14) is trading below our estimate of fair value ($26.32)

Significantly Below Fair Value: EYES is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: EYES is unprofitable, so we can't compare its PE Ratio to the Medical Equipment industry average.

PE vs Market: EYES is unprofitable, so we can't compare its PE Ratio to the US market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate EYES's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: EYES is good value based on its PB Ratio (2.5x) compared to the US Medical Equipment industry average (3.1x).


Next Steps

Future Growth

How is Second Sight Medical Products forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

12.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: EYES is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: EYES is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: EYES is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: EYES's revenue (66.2% per year) is forecast to grow faster than the US market (7.2% per year).

High Growth Revenue: EYES's revenue (66.2% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if EYES's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Second Sight Medical Products performed over the past 5 years?

-4.2%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: EYES is currently unprofitable.

Growing Profit Margin: EYES is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: EYES is unprofitable, and losses have increased over the past 5 years at a rate of -4.2% per year.

Accelerating Growth: Unable to compare EYES's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: EYES is unprofitable, making it difficult to compare its past year earnings growth to the Medical Equipment industry (1%).


Return on Equity

High ROE: EYES has a negative Return on Equity (-461.75%), as it is currently unprofitable.


Next Steps

Financial Health

How is Second Sight Medical Products's financial position?


Financial Position Analysis

Short Term Liabilities: EYES's short term assets ($13.1M) exceed its short term liabilities ($7.0M).

Long Term Liabilities: EYES's short term assets ($13.1M) exceed its long term liabilities ($2.4M).


Debt to Equity History and Analysis

Debt Level: EYES is debt free.

Reducing Debt: EYES had no debt 5 years ago.


Balance Sheet

Inventory Level: EYES has a high level of physical assets or inventory.

Debt Coverage by Assets: EYES's debt is not covered by short term assets (assets are -2.9521095557414E+16x debt).


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: EYES has less than a year of cash runway based on its current free cash flow.

Forecast Cash Runway: EYES has less than a year of cash runway if free cash flow continues to reduce at historical rates of -9.3% each year


Next Steps

Dividend

What is Second Sight Medical Products's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

Notable Dividend: Unable to evaluate EYES's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate EYES's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if EYES's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if EYES's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of EYES's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

1.8yrs

Average management tenure


CEO

Gregg Williams (60yo)

no data

Tenure

US$84,007

Compensation

Mr. Gregg G. Williams has been Acting Chief Executive Officer of Second Sight Medical Products, Inc since March 27, 2020. He serves as Director at Nano Precision Medical, Inc since April 2019. He has been  ...


Leadership Team

NamePositionTenureCompensationOwnership
Gregg Williams
Acting CEO & Chairmanno dataUS$84.01k25.92% $4.6m
John Blake
CFO & Corporate Secretary2yrsUS$1.05m0.011% $2.0k
William Ryan
Chief Operating Officer1.42yrsUS$914.24kno data
Gunnar Bjorg
no datano datano data
Stephen Okland
Chief Strategy & Business Development Officer1.83yrsUS$615.76k0.019% $3.4k
Lisa Wilson
Founder & President of In-Site Communications and Investor Relations for Second Sightno datano datano data

1.8yrs

Average Tenure

55yo

Average Age

Experienced Management: EYES's management team is not considered experienced ( 1.8 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Gregg Williams
Acting CEO & Chairmanno dataUS$84.01k25.92% $4.6m
William Link
Independent Director17.17yrsUS$91.25k0.092% $16.4k
Matthew Pfeffer
Independent Director4.83yrsUS$88.59k0.094% $16.9k
Aaron Mendelsohn
Independent Director22.17yrsUS$74.26k0.11% $19.1k
Jonathan McGuire
Director4.58yrsUS$1.23m0.15% $27.2k

4.8yrs

Average Tenure

61yo

Average Age

Experienced Board: EYES's board of directors are considered experienced (4.8 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been substantially diluted in the past year, with total shares outstanding growing by 77.3%.


Top Shareholders

Company Information

Second Sight Medical Products, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Second Sight Medical Products, Inc.
  • Ticker: EYES
  • Exchange: NasdaqCM
  • Founded: 1998
  • Industry: Health Care Equipment
  • Sector: Healthcare
  • Market Cap: US$17.850m
  • Shares outstanding: 15.66m
  • Website: https://www.secondsight.com

Number of Employees


Location

  • Second Sight Medical Products, Inc.
  • 12744 San Fernando Road
  • Suite 400
  • Sylmar
  • California
  • 91342
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
EYESNasdaqCM (Nasdaq Capital Market)YesCommon StockUSUSDNov 2014
24PDB (Deutsche Boerse AG)YesCommon StockDEEURNov 2014

Biography

Second Sight Medical Products, Inc. develops, manufactures, and markets implantable visual prosthetics that are intended to deliver artificial vision to blind individuals. It develops technologies to treat the population of sight-impaired individuals. The company offers the Orion Visual Cortical Prosthesis System, an implanted cortical stimulation device, which is intended to provide useful artificial vision to individuals who are blind due to various causes, including glaucoma, diabetic retinopathy, optic nerve injury or disease, and eye injury. It also offers Argus II Retinal Prosthesis System for treating retinitis pigmentosa. The company was founded in 1998 and is headquartered in Sylmar, California. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/03/31 03:34
End of Day Share Price2020/03/30 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.