Key Highlights

  • Glaukos shares are trading 32.89% higher at $241.10 on Thursday, October 29, 2026.
  • Net sales for the third quarter grew 58% to $211.0 million from $133.5 million.
  • Corneal Health sales jumped 154% to $59.0 million, and U.S. Glaucoma sales grew 47% to $118.6 million.
  • Non-GAAP diluted EPS was $0.47, compared with a non-GAAP loss of $0.16 a year earlier.
  • 2026 net sales guidance was lifted to $775 million to $785 million, alongside a preliminary 2027 figure of $1 billion.

Glaukos Share Rally: What Is Driving the 32.89% Gain After the Third-Quarter Report?

Glaukos (NYSE:GKOS) shares are trading 32.89% higher at $241.10 on Thursday, October 29, 2026, following third-quarter results released Wednesday, October 28. Net sales reached $211.0 million, up 58% from $133.5 million, on both a reported and constant-currency basis. The implied prior close is about $181.40 (calculated).

Glaukos is an ophthalmic pharmaceutical and medical technology company based in Aliso Viejo, California, with a focus on glaucoma, corneal disorders and retinal disease. It introduced its first minimally invasive glaucoma surgery device in 2012 and started the commercial launch of iDose TR in 2024. The chief executive described the quarter as a record and named iDose TR and Epioxa as two transformational growth drivers.

Glaukos Product Lines: Which Segments Powered the 58% Increase?

U.S. Glaucoma sales grew 47% to $118.6 million. Corneal Health sales climbed 154% to $59.0 million, the fastest-growing line in the report. International Glaucoma sales were $33.4 million, up 13.3% as reported and 14.6% on an operational basis, with a 1.3-point currency drag.

Total sales rose 13.7% from $185.6 million in the second quarter. International Glaucoma declined 8.9% sequentially. Net sales for the first nine months of 2026 were $547.2 million, against $364.3 million a year before.

Glaukos Earnings Quality: How Did Margins Move Results Into Positive Territory?

GAAP gross margin was about 85.2% against 78.4% a year earlier, and non-GAAP gross margin was about 87.7% against 83.9%. GAAP net income was $2.0 million, or $0.03 per diluted share, after a $16.2 million loss, or $0.28 per share, a year before. Non-GAAP net income was $28.5 million, or $0.47 per share, versus a non-GAAP loss of $9.2 million.

GAAP operating expenses reached $179.0 million versus $121.1 million. The company excluded about $26.5 million of operating items, among them a $14.1 million charge tied to a UC resolution agreement and $5.9 million of trade secret and other litigation costs. Non-GAAP income from operations was $27.3 million, while GAAP operating income was $0.8 million.

Cash, short-term investments and restricted cash totalled $339.8 million at September 30, up $50.5 million from $289.3 million at June 30. The company reports no debt, with a $66.9 million finance lease liability on the balance sheet.

Glaukos Outlook: How Big Is the 2026 Increase and the 2027 Marker?

Management lifted 2026 net sales guidance to $775 million to $785 million from $680 million to $700 million, based on current exchange rates. It also offered a preliminary 2027 net sales figure of $1 billion. The release did not provide margin guidance.

The release outlined a pipeline of dropless platform technologies but did not disclose specific trial readouts or approvals.

Next Checkpoints: Fourth-Quarter Sales Against the Higher Range

The next checkpoints are fourth-quarter results, where nine-month sales of $547.2 million form the base for the $775 million to $785 million range, and any detail on how the $1 billion 2027 marker is built. Investors will also follow iDose TR and Epioxa contributions and whether the legal and resolution charges repeat.