Second Sight Reports Fourth Quarter and Year End 2014 Financial Results and Provides Business Update Sylmar, CA

Second Sight Reports Fourth Quarter and

Year End 2014 Financial Results and Provides Business Update

Sylmar, CA, March 11, 2015 - Second Sight Medical

Products, Inc. (NASDAQ: EYES) ("Second Sight" or "the Company"), a leading developer, manufacturer and marketer

of implantable visual prosthetics to provide functional vision to blind patients, today reported financial results for the three-

and twelve- month periods ended December 31, 2014.

Recent Company Highlights:

Page 2: Second Sight Reports Fourth Quarter and

Year End 2014 Financial Results and Provides Business Update

"2014 was a monumental year for Second Sight, as we successfully

completed our IPO, which enabled us to convert all of our debt and leaves us with a very strong balance sheet to begin our commercial

efforts in earnest. We received numerous regulatory and reimbursement approvals and started to meaningfully scale the number of

implants for the Argus II. As the first approved retinal prosthesis in the world, we have surpassed 100 implants for patients with

retinitis pigmentosa," said Dr. Robert Greenberg, President and CEO of Second Sight. "We now have the capital to accelerate

a number of key initiatives leading towards our ultimate goal of restoring vision to nearly every blind individual and improving

their overall quality of life."

"One of our core focuses is to accelerate certification

of additional Centers of Excellence. At the end of 2014, we had 18 active implanting centers and

are in ongoing discussions with more than 25 additional centers throughout the world. We are also gaining significant traction

with respect to overall reimbursement in the U.S. and Europe."

"Looking ahead to 2015

and beyond, we are focused on driving ongoing market penetration with the Argus II, by partnering

with additional centers managed by committed surgeons, achieving further reimbursement success in the U.S., Europe and Middle East,

and raising overall awareness among blind persons who could benefit from the device. We remain steadfast in our approach to continue

to enhance and develop the Argus II product, while exploring its potential use in new indications that may expand our addressable

market, to include AMD, as well as further developing and commencing work for new products like the Orion cortical prosthesis aimed

at treating nearly all causes of blindness," concluded Dr. Greenberg.

Fourth Quarter 2014 Financial Results

Total revenue was $1.5 million for the fourth quarter

of 2014, up 170% compared with $0.6 million in the fourth quarter of 2013. The increase was primarily due to a higher

number of implanted Argus II retinal prostheses in the fourth quarter of 2014 when compared to the year-ago quarter.

Gross profit was $0.1 million in the fourth quarter of

2014, compared to a gross loss of $(1.0) million in the fourth quarter of 2013. The improvement reflects the higher revenue

in the 2014 period, coupled with a higher level of production in Q4 2014, which allowed us to spread our manufacturing overhead

across more units, lowering our overall cost per unit.

Total costs and operating expenses in the fourth quarter of

2014 were $5.7 million, compared with $3.3 million in the fourth quarter of 2013, reflecting the Company's increased

investment in sales, marketing, and research and development, coupled with the cost of being a publicly-traded company.

Operating loss in the fourth quarter of 2014 was $(5.6)

million, compared to an operating loss of $(4.3) million in the fourth quarter of 2013.

Sight Reports Fourth Quarter and Year End 2014 Financial Results and Provides Business Update

Net loss in the fourth quarter of 2014 was $(13.6) million,

or $(0.46) per share, compared with a net loss of $(6.0) million, or $(0.27) per share, in the prior year quarter. We

recorded non-cash charges of $8.4 million during the fourth quarter, compared with non-cash charges of $1.8 million during the

fourth quarter of 2013, largely related to the conversion of our convertible promissory notes to common stock during our IPO in

Non-GAAP adjusted net loss in the fourth quarter of 2014 was

$(5.1) million, or a non-GAAP net loss of $(0.17) per share, compared to a non-GAAP adjusted net loss of $(4.2) million, or $(0.19)

per share in the fourth quarter of 2013.

Full Year 2014 Financial Results

Total revenue was $3.4 million in 2014, compared to

$1.6 million in 2013. The increase reflects volume growth in the number of implanted Argus II retinal prostheses. The Company

implanted 29 Argus II retinal prostheses in 2014, compared to 22 in 2013.

Gross loss in 2014 was $(0.2) million, compared to a gross loss

of ($4.1) million in 2013. The improvement is primarily due to higher revenues from the aforementioned increase in implants,

as well as a lower cost of goods sold when compared to 2013.

Total costs and operating expenses in 2014 were $21.1 million,

compared with $13.9 million in 2013. This increase is primarily due to increased investments in sales, marketing, and

research and development, as well increased costs associated with Second Sight being publicly-traded, partially offset by lower

clinical and regulatory costs in 2014 following FDA approval.

Operating loss in 2014 was $(21.2) million, compared to

an operating loss of $(18.0) million in 2013.

Net loss for the year ended December 31, 2014 was $(35.2)

million, or $(1.41) per share, compared with a net loss of $(23.0) million, or $(1.02) per share, in 2013. Non-GAAP

adjusted net loss in 2014, excluding non-cash expenses, was $(19.4) million, or $(0.77) per share compared with Non-GAAP adjusted

net loss of $(17.2) million in 2013, or $(0.76) per share.

As of December 31, 2014, Second Sight had $34.6 million in

cash, cash equivalents and investments, compared to $8.7 million at December 31, 2013. In November 2014, the Company raised $34.0

million in net proceeds from its initial public offering.

Sight Reports Fourth Quarter and Year End 2014 Financial Results and Provides Business Update

Double the number of Centers of Excellence globally to drive further

Initiate and complete enrollment for AMD Feasibility Clinical

Develop and test a pre-clinical Orion device

Make significant advancements for the Argus II software upgrade

scheduled for deployment in 2016

Further expand the patent estate around new products and future

development discoveries

As previously announced, Second Sight management will host its fourth quarter conference call as follows:

The conference call will be broadcast live and available shortly

after the completion for replay for 30 days The replay can be accessed by dialing (800) 633-8284 (U.S.) or (402) 977-9140 (International). The

conference ID for the replay is 21763065.

About the Argus II Retinal Prosthesis System

The Argus II is the first artificial retina to receive approval

in Europe (CE Mark), and the first and only retinal prosthesis FDA-approved in the U.S. The Argus II System is an advanced neurostimulation

device that bypasses defunct photo-receptor cells and stimulates remaining viable retinal cells inducing visual perception in individuals

with severe to profound outer retinal degeneration. The Argus II works by converting images captured by a miniature video camera

mounted on the patient's glasses into a series of small electrical pulses, which are transmitted wirelessly to an array of

electrodes implanted on the surface of the retina. These pulses are intended to stimulate the retina's remaining cells, resulting

in the perception of patterns of light in the brain. The patient then learns to interpret these visual patterns, thereby regaining

some visual function. The Argus II has been implanted in more than 100 patients in the world and has demonstrated long-term reliability,

with some Argus II patients approaching eight years of implant. The treatment is currently offered at approved centers in Germany,

France, Italy, Spain, Switzerland, United Kingdom, Netherlands, Saudi Arabia, Turkey, the U.S., and Canada.

Sight Reports Fourth Quarter and Year End 2014 Financial Results and Provides Business Update

Second Sight Medical Products, Inc. was founded in 1998 to create

a retinal prosthesis to provide sight to patients blinded from outer retinal degenerations such as retinitis pigmentosa. Second

Sight's mission is to develop, manufacture, and market innovative implantable visual prosthetics to enable blind individuals to

achieve greater independence. The Company's Argus II retinal prosthesis is approved in the U.S. and Europe. Second Sight

is developing the OrionTM cortical prosthesis to restore some vision to individuals who are blind due to causes other

than preventable or treatable conditions. The company's headquarters are in Sylmar, California, and its European Headquarters

are in Lausanne, Switzerland. For more information, visit www.secondsight.com.