Glaukos (NYSE:GKOS) Posts Earnings Results, Beats Expectations By $0.12 EPS

Key Points

• Glaukos reported Q1 EPS of ($0.18), beating consensus by $0.12, with revenue of $150.6 million up 41% year‑over‑year and management raising full‑year 2026 net sales guidance to $620–$635 million.
• iDose TR momentum drove U.S. glaucoma net sales to a record $93.5 million (iDose TR ≈ $54M), with growing surgeon adoption, reimbursement progress, ongoing phase IV studies, and a planned iDose TR filing by year‑end targeting approval in Q4 2027.
• The commercial launch of Epioxa is underway with a permanent CMS J‑code effective July 1, 2026 and payer coverage for >100 million commercial lives, but management warned of near‑term adoption volatility and possible Q2 corneal sales softness during the transition from Photrexa.

Glaukos (NYSE:GKOS - Get Free Report) announced its quarterly earnings results on Wednesday. The medical instruments supplier reported ($0.18) EPS for the quarter, beating analysts' consensus estimates of ($0.30) by $0.12, FiscalAI reports. Glaukos had a negative return on equity of 7.00% and a negative net margin of 36.99%.The company had revenue of $150.57 million during the quarter, compared to analyst estimates of $136.89 million. During the same period in the prior year, the company earned ($0.22) earnings per share. The firm's revenue was up 41.2% on a year-over-year basis.

Here are the key takeaways from Glaukos' conference call:

• Record Q1 net sales of $150.6 million, up 41% year-over-year, and management raised full‑year 2026 net sales guidance to $620–$635 million from $600–$620 million.
• iDose TR momentum drove U.S. glaucoma net sales to a record $93.5 million (up 58%), with iDose TR contributing approximately $54 million and management citing growing surgeon adoption and reimbursement progress.
• Clinical and regulatory progress for interventional glaucoma: two phase IV studies are enrolling (including iDose+ cataract vs cataract alone), re‑administration procedures are occurring, and the company plans to file for iDose TR by year‑end aiming for targeted approval in Q4 2027.
• Epioxa commercial launch is underway with U.S. availability, a permanent CMS J‑code (J2789) effective July 1, 2026, payer pathways covering >100 million commercial lives (including four of five largest payers), and a site‑of‑care network already reaching ~65% of the U.S. population with plans toward ~95%.
• Near‑term headwinds: measured adoption and volatility are expected as Epioxa transitions from Photrexa and operates under a miscellaneous J‑code until July, international growth may see comp‑competitive trialing and FX tailwinds are expected to abate, and management expects possible Q2 corneal sales softness during the transition.

Glaukos Trading Down 2.2%

Shares of NYSE GKOS opened at $116.94 on Thursday. Glaukos has a 1-year low of $73.16 and a 1-year high of $130.23. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.69 and a quick ratio of 4.06. The business's 50 day moving average is $113.50 and its two-hundred day moving average is $107.44. The stock has a market capitalization of $6.84 billion, a P/E ratio of -35.87 and a beta of 0.78.

Insider Activity at Glaukos

In other news, Director Aimee S. Weisner sold 15,000 shares of the business's stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $117.38, for a total transaction of $1,760,700.00. Following the transaction, the director owned 18,806 shares of the company's stock, valued at approximately $2,207,448.28. The trade was a 44.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Alex R. Thurman sold 2,511 shares of the stock in a transaction on Wednesday, March 25th. The shares were sold at an average price of $106.46, for a total value of $267,321.06. Following the sale, the chief financial officer owned 41,967 shares in the company, valued at $4,467,806.82. The trade was a 5.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 19,657 shares of company stock valued at $2,250,060 over the last ninety days. Corporate insiders own 6.40% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Los Angeles Capital Management LLC purchased a new stake in shares of Glaukos in the fourth quarter valued at $28,000. Smartleaf Asset Management LLC boosted its stake in shares of Glaukos by 16.2% during the 2nd quarter. Smartleaf Asset Management LLC now owns 973 shares of the medical instruments supplier's stock worth $99,000 after purchasing an additional 136 shares during the period. Kestra Advisory Services LLC purchased a new position in shares of Glaukos during the 4th quarter worth about $128,000. Van ECK Associates Corp grew its holdings in Glaukos by 24.2% during the 3rd quarter. Van ECK Associates Corp now owns 1,738 shares of the medical instruments supplier's stock valued at $142,000 after purchasing an additional 339 shares during the last quarter. Finally, Focus Partners Wealth grew its holdings in Glaukos by 6.9% during the 3rd quarter. Focus Partners Wealth now owns 2,714 shares of the medical instruments supplier's stock valued at $202,000 after purchasing an additional 176 shares during the last quarter. 99.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on GKOS shares. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Glaukos in a research note on Tuesday, April 21st. William Blair upgraded Glaukos to a "strong-buy" rating in a research report on Friday, January 30th. The Goldman Sachs Group reissued a "buy" rating and issued a $138.00 target price on shares of Glaukos in a report on Friday, January 9th. Wells Fargo & Company boosted their price target on shares of Glaukos from $122.00 to $135.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 18th. Finally, Stephens upped their price target on shares of Glaukos from $115.00 to $145.00 and gave the company an "overweight" rating in a research note on Friday, January 2nd. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $133.69.

About Glaukos

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.