Glaukos Lifts 2026 Sales Outlook to $775 Million to $785 Million as Q3 Sales Jump 58%

Glaukos lifted its 2026 sales forecast by roughly $90 million at the midpoint and offered a first look at 2027, saying it expects next year's net sales to reach $1 billion as its iDose TR glaucoma implant and Epioxa keratoconus therapy gain traction.

The eye-care company now expects 2026 net sales of $775 million to $785 million, up from $680 million to $700 million previously, according to its third-quarter earnings release filed with an 8-K on Wednesday.

Record quarter, swing to profit

Net sales jumped 58% to a record $211.0 million from $133.5 million a year earlier, on both a reported and constant currency basis.

That growth pushed Glaukos into the black. Net income was $2.0 million, or $0.03 a diluted share, compared with a net loss of $16.2 million, or $0.28 a share, in the third quarter of 2025. On a non-GAAP basis, the company earned $28.5 million, or $0.47 a share, versus a non-GAAP loss of $0.16 a share.

Gross margin improved to about 85% from about 78%, and non-GAAP gross margin rose to about 88% from about 84%. Income from operations was $0.8 million, compared with an operating loss of $16.4 million a year ago.

"Our record third quarter results reflect successful global execution across our key global commercial and development priorities," Chairman and CEO Thomas Burns said in the release, pointing to "two transformational growth drivers in iDose TR and Epioxa."

Two launches doing the heavy lifting

U.S. Glaucoma sales rose 47% to a record $118.6 million, driven by iDose TR, which generated about $76 million in the quarter, according to a quarterly summary the company furnished with the 8-K. The implant is designed to deliver glaucoma drug therapy inside the eye for up to three years.

Corneal Health sales surged 154% to a record $59.0 million, including about $53 million from Epioxa, which became commercially available in March. The company said access pathways for Epioxa now cover about 90% of U.S. commercial lives, including the five largest payers, and more than 80% of Medicaid lives. Its O2N systems used with the therapy are deployed at locations covering roughly 90% of the U.S. population, and Epioxa's product-specific billing code took effect July 1.

International Glaucoma sales grew 13% to about $33.4 million, or 15% at constant currency.

Spending up, cash building

Selling, general and administrative expenses rose 58% to $130.9 million, while research and development spending increased 26% to $48.1 million.

Even so, Glaukos ended the quarter with $339.8 million in cash, short-term investments and restricted cash, up $50.5 million from the end of June, and no debt.

Burns said the company continues to advance a pipeline of "novel, dropless platform technologies" aimed at chronic eye diseases.

The company scheduled a conference call for 4:30 p.m. ET on Wednesday to discuss the results.

Sources

1. Glaukos Form 8-K with third-quarter 2026 earnings release (Exhibit 99.1), filed Oct. 28, 2026 (accession 0001193125-26-436147)

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