Key Highlights

  • Consensus EPS of negative 0.10 compares with second-quarter basic EPS of negative 0.31, against negative 0.34.
  • Consensus revenue of USD 168.04 million compares with second-quarter net sales of USD 185.6 million, up 50%.
  • Management raised full-year 2026 net sales guidance to USD 680 million to USD 700 million, from a prior range.
  • U.S. glaucoma sales were USD 118.5 million, up 64%, with iDose TR revenue of approximately USD 74 million.

Glaukos (NYSE:GKOS) reports third-quarter results on Wednesday, Oct. 28, after the market closes. Consensus stands at EPS of -0.10 on revenue of USD 168.04 million, and the company has a market capitalization of USD 10.52 billion.

Glaukos is an ophthalmic medical technology and pharmaceutical company with glaucoma and corneal health products. Second-quarter net sales were USD 185,610 thousand against USD 124,120 thousand, and the net loss was USD 18,377 thousand against USD 19,657 thousand.

Estimates Against Second-Quarter Results and Raised Guidance

The EPS estimate of negative 0.10 is above the second-quarter basic EPS of negative 0.31, which compared with negative 0.34 a year earlier. The estimates table does not state its EPS basis. The revenue estimate of USD 168.04 million is below the USD 185,610 thousand of net sales reported.

Management gave no third-quarter range, so the comparison runs to the last reported quarter. It raised full-year 2026 net sales guidance to USD 680 million to USD 700 million from USD 620 million to USD 635 million.

What Management Guided and What It Left Open

Management guided iDose TR full-year revenue of USD 275 million to USD 280 million, corneal health growth of 20% plus or minus, and U.S. glaucoma growth of approximately 50%. It guided non-GAAP gross margin of approximately 85% and full-year operating expenses of approximately USD 600 million.

Management left open international competitive trialing in some major markets and volatility in corneal health as the permanent J-code for Epioxa takes effect after July 1, 2026. It targeted FDA approval of iDose TRIO by the end of 2027.

U.S. Glaucoma, Corneal Health and Epioxa Detail

U.S. glaucoma sales were USD 118.5 million against USD 72.3 million, and international glaucoma sales were USD 36.6 million against USD 31.3 million. Corneal health sales were USD 30.4 million against USD 20.6 million, up 48%.

Epioxa sales were approximately USD 11 million in its first full quarter of commercial availability. Access pathways cover more than 125 million commercial lives, and realized average selling price is approximately USD 60,000.

Income Statement Lines, Cash and Debt

Gross profit was USD 151,594 thousand against USD 97,224 thousand, and operating expenses were USD 168,861 thousand against USD 119,913 thousand. The operating loss was USD 17,267 thousand against USD 22,689 thousand, and the loss before income taxes was USD 17,721 thousand against USD 19,409 thousand.

Cash and equivalents were approximately USD 289.3 million with no debt, and the filing shows cash and cash equivalents of USD 114,485 thousand and short-term investments of USD 171,741 thousand. The estimates table lists a market capitalization of USD 10.52 billion.

Markers for the Release

Reported EPS against negative 0.10 and net sales against USD 168.04 million are the headline comparisons. Other markers are iDose TR revenue, Epioxa sales and the raised guidance ranges.