Glaukos (NYSE:GKOS) Posts Quarterly Earnings Results, Beats Expectations By $0.07 EPS

Key Points

• Glaukos beat quarterly expectations: Q2 revenue rose 49.6% year over year to $185.6 million, well above the $150.9 million consensus, while adjusted EPS of negative $0.14 exceeded estimates by $0.07.
• Strong demand drove higher guidance: U.S. glaucoma sales increased 64%, led by iDose TR, and the company raised its 2026 revenue outlook to $680 million–$700 million from $620 million–$635 million. Epioxa also generated approximately $11 million in its first full commercial quarter.
• Risks remain despite growth: Glaukos continues to report losses and negative operating cash flow, while potential Medicare coverage restrictions for iDose TR and temporary revenue volatility during Epioxa’s billing-code transition could pressure results.

Glaukos (NYSE:GKOS - Get Free Report) issued its quarterly earnings data on Wednesday. The medical instruments supplier reported ($0.14) EPS for the quarter, topping analysts' consensus estimates of ($0.21) by $0.07, FiscalAI reports. The business had revenue of $185.61 million for the quarter, compared to analyst estimates of $150.93 million. Glaukos had a negative net margin of 34.34% and a negative return on equity of 6.92%. The firm's quarterly revenue was up 49.6% on a year-over-year basis. During the same period last year, the business posted ($0.24) earnings per share.

Here are the key takeaways from Glaukos' conference call:

• Record second-quarter sales reached $185.6 million, up 50% year over year, prompting Glaukos to raise full-year 2026 revenue guidance to $680 million–$700 million from $620 million–$635 million.
• U.S. glaucoma sales rose 64% to $118.5 million, with iDose TR contributing approximately $74 million. Management expects iDose TR revenue of roughly $275 million–$280 million for 2026, supported by expanding surgeon adoption and commercial and Medicare Advantage utilization.
• Epioxa generated approximately $11 million in its first full commercial quarter, while the broader corneal health franchise is now expected to grow about 20% year over year in 2026. The company reported treatment-center coverage reaching roughly 85% of the U.S. population and payer access covering more than 125 million commercial lives.
• The transition from Photrexa and a miscellaneous billing code to Epioxa’s permanent J-code is expected to create volatility or a temporary “air pocket” in third-quarter corneal revenue, with improvement anticipated in the fourth quarter and into 2027.
• Potential Medicare coverage restrictions for iDose TR remain an important uncertainty, as proposed local coverage determinations from five of seven Medicare Administrative Contractors include criteria the company opposes. International glaucoma growth may also face competitive trialing, reimbursement pressure in Germany and Switzerland, and fading foreign-exchange tailwinds.

Glaukos Stock Performance

GKOS stock traded up $10.64 during mid-day trading on Wednesday, reaching $161.97. The company had a trading volume of 3,136,767 shares, compared to its average volume of 634,278. Glaukos has a 52 week low of $73.16 and a 52 week high of $166.00. The stock has a 50 day simple moving average of $136.63 and a two-hundred day simple moving average of $124.40. The company has a quick ratio of 4.73, a current ratio of 5.43 and a debt-to-equity ratio of 0.10.

Key Glaukos News

Here are the key news stories impacting Glaukos this week:

• Positive Sentiment: Revenue significantly exceeded expectations: Q2 2026 revenue reached $185.6 million, up approximately 50% year over year and well above the $150.9 million analyst consensus. Gross profit rose to $151.6 million, signaling strong demand and improved sales momentum. Glaukos Announces Second Quarter 2026 Financial Results
• Positive Sentiment: Raised revenue outlook: Glaukos guided to fiscal 2026 revenue of $680 million to $700 million, well above the roughly $630 million consensus estimate. The company also reported adjusted quarterly EPS of negative $0.14, better than the expected negative $0.21.
• Positive Sentiment: Pipeline progress: Enrollment has been completed in the pivotal PRESERFLO MicroShunt trial for treatment-resistant glaucoma, an important step toward potential regulatory and commercial expansion. Glaukos completes enrollment in Preserflo MicroShunt study
• Neutral Sentiment: Analyst views remain broadly favorable but mixed: Recent targets include $175 from Citi, $168 from HC Wainwright and $165 from Piper Sandler, while UBS initiated coverage with a neutral rating and a $150 target. The median recent target is approximately $162.
• Negative Sentiment: Profitability remains a concern: Glaukos posted an operating loss of $17.3 million and a net loss attributable to common shareholders of $18.4 million. Operating cash flow was negative $12.5 million, underscoring continued cash-burn risk despite higher revenue.
• Negative Sentiment: Insider selling could weigh on sentiment: The CFO sold 10,000 shares for $1.6 million under a pre-arranged Rule 10b5-1 plan. Quiver data also shows 24 insider sales and no purchases over the past six months, although these transactions may be scheduled rather than discretionary. Glaukos CFO stock sale

Analysts Set New Price Targets

A number of brokerages recently weighed in on GKOS. Wells Fargo & Company upped their target price on shares of Glaukos from $135.00 to $138.00 and gave the stock an "overweight" rating in a research note on Thursday, April 30th. Stifel Nicolaus upped their price objective on Glaukos from $170.00 to $175.00 and gave the stock a "buy" rating in a research report on Friday, July 17th. Citigroup increased their price objective on Glaukos from $162.00 to $175.00 and gave the stock a "buy" rating in a report on Wednesday, July 8th. UBS Group initiated coverage on Glaukos in a research report on Tuesday. They set a "neutral" rating and a $150.00 price target for the company. Finally, Needham & Company LLC lifted their price objective on shares of Glaukos from $136.00 to $150.00 and gave the company a "buy" rating in a report on Wednesday, June 17th. Twelve investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $155.23.

Insider Buying and Selling

In related news, CFO Alex R. Thurman sold 10,000 shares of the firm's stock in a transaction dated Thursday, July 16th. The shares were sold at an average price of $160.00, for a total value of $1,600,000.00. Following the completion of the sale, the chief financial officer directly owned 43,906 shares in the company, valued at approximately $7,024,960. This trade represents a 18.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Joseph E. Gilliam sold 19,573 shares of Glaukos stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $143.54, for a total value of $2,809,508.42. Following the transaction, the chief operating officer owned 73,419 shares of the company's stock, valued at $10,538,563.26. The trade was a 21.05% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 71,273 shares of company stock worth $10,482,003. 5.90% of the stock is currently owned by company insiders.

Institutional Trading of Glaukos

A number of hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP increased its holdings in shares of Glaukos by 10.4% during the 3rd quarter. Wellington Management Group LLP now owns 3,580,670 shares of the medical instruments supplier's stock worth $292,004,000 after acquiring an additional 336,266 shares during the last quarter. Primecap Management Co. CA lifted its holdings in Glaukos by 49.8% during the 4th quarter. Primecap Management Co. CA now owns 3,376,928 shares of the medical instruments supplier's stock valued at $381,289,000 after purchasing an additional 1,123,140 shares during the last quarter. Janus Henderson Group PLC boosted its position in Glaukos by 183.4% during the fourth quarter. Janus Henderson Group PLC now owns 3,018,787 shares of the medical instruments supplier's stock worth $340,855,000 after purchasing an additional 1,953,578 shares during the period. State Street Corp boosted its position in Glaukos by 0.9% during the fourth quarter. State Street Corp now owns 2,122,402 shares of the medical instruments supplier's stock worth $239,640,000 after purchasing an additional 18,040 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in Glaukos by 3.5% during the second quarter. Ameriprise Financial Inc. now owns 1,999,252 shares of the medical instruments supplier's stock worth $206,503,000 after purchasing an additional 68,497 shares during the period. 99.04% of the stock is owned by institutional investors and hedge funds.

Glaukos Company Profile

Glaukos Corporation is a medical technology company specializing in the development, manufacturing and commercialization of innovative therapies for patients with glaucoma and other chronic eye diseases. The company's core offerings focus on micro-invasive glaucoma surgery (MIGS), designed to reduce intraocular pressure and manage glaucoma more safely and effectively than traditional surgical approaches. Glaukos's flagship products include the iStent, iStent inject and iStent infinite trabecular micro-bypass stents, which are implanted during cataract surgery to improve aqueous outflow and help control eye pressure.

Beyond its MIGS portfolio, Glaukos has expanded into sustained drug-delivery solutions.

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