Second Sight Reports Fourth Quarter and Year End 2015 Financial Results Sylmar, CA

Second Sight Reports Fourth Quarter and

Year End 2015 Financial Results

Sylmar, CA, March 3, 2016 - Second Sight Medical

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

implantable visual prosthetics to provide some useful vision to blind patients, today reported financial results for the three-month

and twelve-month periods ended December 31, 2015.

Recent Company Highlights:

"In 2015, Second Sight invested in building the foundation

of our business while delivering strong revenue growth," stated Will McGuire, Chief Executive Officer of Second Sight. "We

nearly doubled our global footprint and recently expanded MAC coverage to 17 states and two US territories. We plan to build upon

these successes while focusing on overcoming U.S. reimbursement challenges and penetrating our targeted markets in 2016."

Sight Reports Fourth Quarter and Year End 2015 Financial Results

"At the same time, we believe there are multiple meaningful

opportunities to reach larger populations with our platform. We believe the work we are doing to upgrade the existing Argus technology,

expand into Dry AMD and explore the use of our Orion I Cortical Visual Prosthesis for direct cortical stimulation may potentially

open up significant markets for us, ensuring that we can deliver long-term shareholder value," concluded McGuire.

Fourth Quarter 2015 Financial Results

Total revenue was $2.4 million for the fourth quarter

of 2015, up 55% compared with $1.5 million in the fourth quarter of 2014. The increase was primarily due to a higher number

of implanted Argus II retinal prostheses in the fourth quarter of 2015 versus the year ago quarter. There were 21 Argus II retinal

prostheses implanted in the fourth quarter of 2015, compared to 15 for the fourth quarter of 2014.

Gross profit was $691,000 in the fourth quarter of 2015,

compared to $99,000 in the fourth quarter of 2014.

Total operating expenses in the fourth quarter of 2015 were $6.2

million, compared with $5.7 million in the fourth quarter of 2014, reflecting the Company's increased investment in sales,

marketing and research and development, as well as costs associated with being a publicly traded company.

Operating loss in the fourth quarter of 2015 was $5.5

million, compared to an operating loss of $5.6 million for the same period last year.

Net loss in the fourth quarter of 2015 was $5.5 million,

or $0.15 per share, compared with a net loss of $13.6 million, or $0.46 per share, in the prior year quarter. The Company

recorded non-cash charges of $0.9 million and $8.4 million during the fourth quarters of 2015 and 2014, respectively.

Non-GAAP adjusted net loss in the fourth quarter of 2015, excluding

non-cash charges, was $4.6 million, or a non-GAAP net loss of $0.13 per share, compared to a non-GAAP adjusted net loss of $5.1

million, or $0.17 per share, in the fourth quarter of 2014.

Full Year 2015 Financial Results

Total revenue was $8.9 million in 2015, compared to

$3.4 million in 2014. The increase reflects volume growth in the number of implanted Argus II retinal prostheses. The Company

implanted 75 Argus II retinal prostheses in 2015, compared to 29 in 2014.

Gross profit in 2015 was $3.7 million, versus a gross loss of

$0.2 million in 2014. The improvement is primarily due to increased sales of implants.

Sight Reports Fourth Quarter and Year End 2015 Financial Results

Total costs and operating expenses in 2015 were $23.7 million

versus $21.1 million in 2014. This increase is primarily due to additional investments in the business, incremental clinical and

regulatory expenses related to the launch of our Dry AMD trial in the U.K. offset by lower research and development costs, as well

as costs associated with being a publicly traded company.

Operating loss in 2015 was $20.0 million, compared to an

operating loss of $21.2 million in 2014.

Net loss in 2015 was $20.0 million, or $0.56 per share, compared

with a net loss of $35.2 million, or $1.41 per share, in the prior year period. Non-GAAP adjusted net loss in 2015, excluding

non-cash expenses, was $17.0 million, or a loss of $0.48 per share, compared with non-GAAP adjusted net loss of $19.0 million,

or a loss of $0.76 per share, in 2014.

As of December 31, 2015, Second Sight had $16.0 million in

cash and cash equivalents and no debt.

As previously announced, Second Sight management will host its

fourth quarter conference call as follows:

Sight Reports Fourth Quarter and Year End 2015 Financial Results

A replay of the conference call will be available for two weeks

after the call's completion by dialing (800) 633-8284 (U.S.) or (402) 977-9140 (International). The conference ID for

the replay is 21805798. The archived webcast will be available for 30 days via the aforementioned URL.

About the Argus II Retinal Prosthesis System

Second Sight's Argus II System provides

electrical stimulation that bypasses the defunct retinal cells and stimulates remaining viable cells inducing visual perception

in individuals with severe to profound Retinitis Pigmentosa. 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 is the first artificial retina to receive widespread approval, and is offered at approved centers

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

Second Sight's mission is to develop, manufacture and market

innovative implantable visual prosthetics to enable blind individuals to achieve greater independence. Second Sight has developed

and manufactures the Argus II Retinal Prosthesis System. Enrollment is underway in a trial to test the safety and utility

of the Argus II in individuals with Dry Age-Related Macular Degeneration. Second Sight is also developing the Orion I

Visual Cortical Prosthesis to restore some vision to individuals who are blind due to causes other than preventable or treatable

conditions. U.S. Headquarters are in Sylmar, California, and European Headquarters are in Lausanne, Switzerland. For more information,

visit www.secondsight.com.

Sight Reports Fourth Quarter and Year End 2015 Financial Results

This press release contains forward-looking

statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange

and Exchange Act of 1934, as amended, which are intended to be covered by the "safe harbor" created by those sections.

All statements in this release that are not based on historical fact are "forward looking statements." These statements

may be identified by words such as "estimates," "anticipates," "projects," "plans," or

"planned," "seeks," "may," "will," "expects," "intends," "believes,"

"should," "potentially," "objectives," and similar expressions or the negative versions thereof and

which also may be identified by their context. All statements that address operating performance or events or developments that

Second Sight expects or anticipates will or might occur in the future, such as those outlined above under "2016 Objectives,"

are forward-looking statements. While management has based any forward looking statements included in this release on its current

expectations, the information on which such expectations were based may change. Forward-looking statements involve inherent risks

and uncertainties which could cause actual results to differ materially from those in the forward-looking statements, as a result

of various factors including those risks and uncertainties described in the Risk Factors and in Management's Discussion and Analysis

of Financial Condition and Results of Operations sections of our Annual Report on Form 10-K as filed on March 17, 2015 and

our other reports filed from time to time with the Securities and Exchange Commission. We urge you to consider those risks

and uncertainties in evaluating our forward-looking statements. We caution readers not to place undue reliance upon any such forward-looking

statements, which speak only as of the date made. Except as otherwise required by the federal securities laws, we disclaim any

obligation or undertaking to publicly release any updates or revisions to any forward-looking statement contained herein (or elsewhere)

to reflect any change in our expectations with regard thereto or any change in events, conditions or circumstances on which any

such statement is based.

Reconciliation to Non-GAAP Financial Measures

In addition to reporting all financial information required

in accordance with generally accepted accounting principles (GAAP), the Company is also reporting Non-GAAP net loss and Non-GAAP