Second Sight Reports Third Quarter 2017 Financial Results Sylmar, CA

Sight Reports Third Quarter 2017 Financial Results

CA, November 2, 2017 - Second Sight Medical Products, Inc. (NASDAQ: EYES) ("Second Sight" or "the

Company"), a developer, manufacturer and marketer of implantable visual prosthetics that are intended to create an artificial

form of useful vision to blind patients, today reported financial results for the three- and nine-month periods ended September

are making excellent progress against all of our 2017 stated goals. Our Centers of Excellence model in North America is

gaining traction and we are seeing an increasing number of centers perform Argus II cases on a regular basis. In the third

quarter, we continued building our base of accounts and added two new centers in the large New York market. We expect to continue

this expansion and plan to add another two new North American centers in the fourth quarter," stated Will McGuire, President

and Chief Executive Officer of Second Sight.

2: Second Sight Reports Third Quarter 2017 Financial Results

also made significant clinical progress on the R&D front. German authorities approved the protocol we submitted for a clinical

trial to treat better sighted RP patients with our Argus technology. We are moving forward with the clinical trial and are beginning

to recruit subjects. Importantly, the FDA granted us full approval to conduct a clinical feasibility study for the Orion cortical

visual prosthesis; we anticipate our first implant in the U.S. before the end of the year. We are also pursuing participation

in the FDA's Breakthrough Devices Program for Orion, which if accepted, could significantly reduce the time and cost to

move from development to commercialization," concluded McGuire.

Quarter 2017 Financial Results

revenue was $1.6 million for the third quarter of 2017, compared with $1.2 million in the third quarter of 2016. The

Company received a higher revenue per implant due to the higher CMS reimbursement rate in 2017, and the collection of some deferred

profit was $609,000 in the third quarter of 2017, compared to a $1.4 million gross

loss in the third quarter of 2016. Gross profit in the third quarter of 2017, included a credit of $275,000 to partially

reverse a previously established reserve for slow-moving inventory. The gross loss for the third quarter of 2016, included a reserve

for slow-moving inventory of $1.0 million.

operating expenses in the third quarter of 2017 were $7.4 million, compared to $7.1 million in the third quarter of 2016,

reflecting higher personnel and consulting costs related to the Company's development and commercial efforts, offset by

lower spending on prototype development as the design of the Orion neared finalization. Grant revenue, which is used to offset

research and development costs, declined to $107,000 in the third quarter of 2017, compared to $713,000 in the third quarter of

2016, due to a grant that was fully utilized by the end of the first quarter of 2017 and provided no benefit in the third quarter

loss for the third quarter of 2017 was $6.7 million, or $0.12 per share, compared to a net loss of $8.5 million, or

$0.20 per share, in the prior year quarter.

non-GAAP adjusted net loss for the third quarter of 2017, excluding non-cash charges, was $6.0 million, or $0.11 per share, compared

with a non-GAAP adjusted net loss of $6.5 million, or $0.15 per share in the third quarter of 2016.

Months Ended September 30, 2017 and 2016 Financial Results

the nine months ended September 30, 2017, total revenue was $4.9 million compared to $3.3 million in 2016. This increase

is mainly due to the higher number of implants and a higher average revenue per implant in 2017 compared to the prior year.

3: Second Sight Reports Third Quarter 2017 Financial Results

profit in first nine months of 2017 was $1.6 million, versus a gross loss of $3.5 million in the comparable 2016 period.

Gross profit for the first nine months of 2017 included a credit of $1.7 million to partially reverse for a previously established

reserve for slow-moving inventory. The gross loss for the first nine months of 2016 included a reserve for slow-moving inventory

operating expenses during the first nine months of 2017 were $22.8 million versus $19.3 million during the same period

in 2016. This increase is primarily due to higher costs for compensation and outside consultants as the Company increased its

commercial and development activities. Grant revenue, which is used to offset research and development costs, also declined by

$1.8 million in the first nine months of 2017, and provided minimal expense offset in the first nine months of 2017 compared to

the prior year period.

loss in the first nine months of 2017 was $21.2 million, compared to an operating loss of $22.8 million in the comparable

loss for the nine months ended September 30, 2017 was $21.1 million, or $0.40 per share, compared with a net

loss of $22.8 million, or $0.57 per share in the prior year period. The non-GAAP adjusted net loss for the nine months ended September

30, 2017, excluding non-cash expenses, was $19.8 million, or a loss of $0.37 per share, compared with a non-GAAP adjusted net

loss of $17.4 million, or $0.44 per share in the prior year period.

previously announced, Second Sight management will host its third quarter 2017 conference call as follows:

4: Second Sight Reports Third Quarter 2017 Financial Results

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 21861643. The archived webcast will be available

for 30 days via the aforementioned URL.

the Orion Visual Cortical Prosthesis System

Sight, the manufacturer of the Argus II Retinal Prosthesis System (Argus II), has developed a new device,

the Orion. A proof-of-concept clinical trial at UCLA demonstrating the viability of stimulation of the human visual cortex with

a commercially available device from a different manufacturer was announced in Q4 2016. First-in-human clinical studies with the

Orion are planned to begin in 2017. Like the Argus II, the idea behind Second Sight's Orion is to convert images captured

by a miniature video camera mounted on the patient's glasses into a series of small electrical pulses. The Orion is designed

to transmit these electrical pulses wirelessly to an array of electrodes implanted on the surface of the visual cortex, intended

to result in the perception of patterns of light. By bypassing the retina and optic nerve and directly stimulating the visual

cortex, a cortical prosthesis system has the potential to restore useful vision to patients completely blinded due to many reasons,

including glaucoma, diabetic retinopathy, or forms of cancer and trauma - many fold more patients than for the current Argus

II indications. No clinical data is yet available for the Orion.

the Argus II Retinal Prosthesis System

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 stimulate the retina's

remaining cells, intending to result in the perception of patterns of light in the brain. The patient must learn to interpret

these visual patterns, having the potential to regain some visual function. The Argus II was the first artificial retina to receive

widespread commercial approval, and is offered at approved centers in Canada, France, Germany, Italy, Russia, Saudi Arabia, South

Korea, Spain, Taiwan, Turkey, the United Kingdom, and the United States. Further information on the benefits and risks can be

found in the peer reviewed paper at: http://www.sciencedirect.com/science/article/pii/S0161642016305796

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 now manufactures and markets, the Argus II Retinal Prosthesis

System. Enrollment has been completed in a feasibility trial to test the safety and utility of the Argus II in individuals with

Dry Age-Related Macular Degeneration. New hardware and software to improve the quality of the vision produced is underway. A clinical

trial to study the Argus II in better-sighted subjects earlier in the disease was recently approved in Germany. Second Sight is

also developing the Orion 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.

5: Second Sight Reports Third Quarter 2017 Financial Results

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" 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 occur in the future 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 16, 2017, 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