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# Glaukos Posts A Profit After A $14.1 Million University Of California Payout, Then Adds New Commitments
- URL: https://www.bullished.co/glaukos-posts-a-profit-after-a-14-1-million-university-of-california-payout-then-adds-new-3c62ee88/
- Published: 2026-10-28T21:51:10.000Z
- Updated: 2026-10-28T21:51:10.000Z
- Description: Glaukos earned $2.0 million in the third quarter despite a $14.1 million settlement, then took on a $10.0 million license and a Huntsville plant.
- Author: Matteo Parrino
- Tags: Earnings, GKOS, Industry: Healthcare

[Glaukos](https://www.bullished.co/tag/gkos/), which develops dropless eye therapies and devices for glaucoma, corneal disorders and retinal disease, swung to a third-quarter profit even after booking a [$14.1 million settlement](https://www.sec.gov/Archives/edgar/data/0001192448/000119312526436400/gkos-20260930.htm?ref=bullished.co) with the University of California's Regents, according to its 10-Q filed Wednesday. Weeks after quarter-end it also signed a retinal licensing deal and a plant lease that add to its spending.

## A profit that absorbs the settlement

Operating income came to $0.8 million, against a $16.4 million operating loss a year earlier, on [net sales of $211.0 million](https://www.sec.gov/Archives/edgar/data/0001192448/000119312526436147/gkos-ex99%5F1.htm?ref=bullished.co), up 58%. Net income was $2.0 million, or $0.03 a share. For the first nine months, the company still lost $36.3 million from operations.

On September 29, Glaukos agreed to pay the Regents $14.1 million, closing out the last payment owed on certain U.S. patents covered by its December 2014 deal with the university. In return, the Regents released all claims tied to that deal and those patents, including future or past payments. The Gavin Herbert Eye Institute and other recipients will receive some of the money. It sat in accrued liabilities at September 30 and was paid in October.

Accrued liabilities stood at $102.3 million at quarter-end, against $76.7 million at December 31, 2025.

## Licensing, a plant and a building

On October 8 Glaukos announced an exclusive license with RevOpsis Therapeutics for a multi-specific biologic molecule and up to four more retinal products. It paid a non-refundable $10.0 million upfront. Milestone payments could reach $875.0 million if all five products are licensed, developed and commercialized: up to $165.0 million for the first molecule and up to $175.0 million for each of the other four. RevOpsis can also earn royalties of 3% to 8% on annual net sales, and Glaukos may name one representative to its board.

On October 2 the company signed a development and lease agreement for a research and manufacturing site in Huntsville, Alabama. The roughly 259,000-square-foot facility on about 25 acres carries about $42.0 million in project costs over a multi-year build, and construction is expected to start in the fourth quarter of 2026.

Effective October 21, Glaukos agreed to buy a roughly 40,000-square-foot building next to its Aliso Viejo headquarters for $15.2 million. Closing is not expected until mid- to late-2027.

## Receivables stretch with new products

Accounts receivable rose to $150.0 million from $108.6 million at year-end, which the company attributes to a larger share of sales from iDose TR and Epioxa, products with extended payment terms and higher prices per unit. Its specialty pharmacy made up about 17% of net receivables at September 30; no customer topped 10% at December 31, 2025.

Glaukos said it completed the move from Photrexa to Epioxa, its keratoconus therapy, during the third quarter. Cash, short-term investments and restricted cash totaled $339.8 million, and the company reported no debt. It raised 2026 net sales guidance to [$775 million to $785 million](https://wtop.com/national/2026/10/glaukos-q3-earnings-snapshot/?ref=bullished.co), from $680 million to $700 million.

The company expects to file its full quarterly report on or before November 9, 2026.

### Sources

- [10-Q Filing — Glaukos (GKOS)](https://www.sec.gov/Archives/edgar/data/0001192448/000119312526436400/gkos-20260930.htm?ref=bullished.co) — SEC EDGAR
- [10-Q Filing — Glaukos (GKOS), Q2 FY2026 filed 2026-07-29 (comparison basis)](https://www.sec.gov/Archives/edgar/data/0001192448/000119312526324201/gkos-20260630.htm?ref=bullished.co) — SEC EDGAR
- [Earnings release (8-K Item 2.02, gkos-ex99\_1.htm) — Glaukos, filed 2026-10-28](https://www.sec.gov/Archives/edgar/data/0001192448/000119312526436147/gkos-ex99%5F1.htm?ref=bullished.co) — SEC EDGAR
- [Glaukos: Q3 Earnings Snapshot](https://finance.yahoo.com/markets/stocks/articles/glaukos-q3-earnings-snapshot-205839136.html?ref=bullished.co) — Associated Press
- [What Glaukos Doubters Missed](https://sg.finance.yahoo.com/news/glaukos-doubters-missed-101307736.html?ref=bullished.co) — Yahoo Finance
- [Glaukos: Q3 Earnings Snapshot – WTOP News](https://wtop.com/national/2026/10/glaukos-q3-earnings-snapshot/?ref=bullished.co) — wtop.com
- [Glaukos Non-GAAP EPS of -$0.16 misses by $0.07, revenue of $211.03M beats by $42.97M (NYSE:GKOS)](https://seekingalpha.com/news/4659656-glaukos-non-gaap-eps-of-0%5F16-misses-by-0%5F07-revenue-of-211%5F03m-beats-by-42%5F97m?ref=bullished.co) — seekingalpha.com
- [Glaukos: Q3 Earnings Snapshot | wusa9.com](https://www.wusa9.com/article/syndication/associatedpress/glaukos-q3-earnings-snapshot/616-85d0cc9d-503e-4874-a60d-0f99da36c2da?ref=bullished.co) — Associated Press

### More on Glaukos

- [Glaukos Raises 2026 Sales Outlook To $775 Million-$785 Million, Targets $1 Billion For 2027](https://www.bullished.co/glaukos-raises-2026-sales-outlook-to-775-million-785-million-targets-1-billion-for-2027-215aa638/)

[All Glaukos (GKOS) coverage →](https://www.bullished.co/tag/gkos/)