Glaukos Raises 2026 Sales Outlook To $775 Million-$785 Million, Targets $1 Billion For 2027
Record third-quarter sales of $211.0 million, led by the iDose TR implant and Epioxa, turned a year-earlier loss into a small profit.
Glaukos, which makes eye therapies and devices for glaucoma, corneal disorders and retinal disease, raised its 2026 net sales forecast to $775 million to $785 million from $680 million to $700 million, and introduced preliminary 2027 net sales guidance of $1 billion. The company announced the changes Wednesday alongside record third-quarter sales of $211.0 million, up 58% from $133.5 million a year earlier on a reported and constant currency basis.
Two products drive a 58% jump
The U.S. Glaucoma business posted record sales of $118.6 million, up 47%, with the iDose TR implant contributing approximately $76 million. Corneal Health sales rose 154% to $59.0 million, including approximately $53 million from Epioxa, the company's keratoconus therapy. International Glaucoma sales were $33.4 million, up 13% as reported or 15% on a constant currency basis.
The volume turned the bottom line. Net income was $2.0 million, or $0.03 per diluted share, against a loss of $16.2 million a year earlier. On an adjusted basis, net income was $28.5 million, or $0.47 per share.
Gross margin was approximately 85%, up from approximately 78%. Cash, short-term investments and restricted cash reached $339.8 million, up $50.5 million from $289.3 million at the end of the second quarter, and the company reported no debt.
Costs climbed nearly as fast as sales
Selling, general and administrative spending rose 58% to $130.9 million from $83.0 million, and included $14.1 million tied to a resolution agreement with the Regents of the University of California. Research and development expense rose 26% to $48.1 million.
Operating income was $0.8 million, compared with a $16.4 million operating loss a year earlier. The company said its primary focus remains maximizing revenue growth and investing in its pipeline and commercial infrastructure.
What Epioxa and iDose TR are
Glaukos sells mainly to eye surgeons. iDose TR is an implant designed to deliver glaucoma medication inside the eye for up to three years. Epioxa, which the company calls the first and only FDA-approved epithelium-on corneal cross-linking therapy for keratoconus, became commercially available March 19, 2026, and its product-specific billing code took effect July 1, 2026.
The company said access pathways now cover roughly 90% of U.S. commercial lives, and that its forecast weighs uncertainty over five regional Medicare contractors' proposed coverage policies for iDose TR, along with competition in combined cataract-glaucoma procedures.
Chairman and CEO Thomas Burns said the results leave the company "well positioned to sustain our strong growth momentum driven by two transformational growth drivers in iDose TR and Epioxa."
Glaukos hosts its earnings call at 4:30 p.m. ET on Wednesday and expects to file its quarterly report on or before November 9.
Sources
- 8-K Filing — GLAUKOS Corp (GKOS) — SEC EDGAR
- Exhibit gkos-ex99_1.htm — GLAUKOS Corp 8-K exhibit — SEC EDGAR
- Exhibit gkos-ex99_2.htm — GLAUKOS Corp 8-K exhibit — SEC EDGAR
- How Investors May Respond To Glaukos (GKOS) Positive Trial Results — Yahoo Finance
