Glaukos (NYSE:GKOS) Announces Quarterly Earnings Results

Glaukos (NYSE:GKOS) issued its quarterly earnings results on Wednesday. The medical instruments supplier reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.57, FiscalAI reports. The business had revenue of $211.03 million for the quarter, compared to analyst estimates of $168.04 million. Glaukos had a negative net margin of 24.60% and a negative return on equity of 0.98%. The business’s revenue was up 58.0% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.16) earnings per share.

Here are the key takeaways from Glaukos’ conference call:

• Record third-quarter net sales reached $211 million, up 58% year over year. Glaukos raised 2026 revenue guidance to $775 million–$785 million and issued preliminary 2027 guidance of approximately $1 billion.
• Epioxa generated approximately $53 million in third-quarter sales during its early launch, supported by access pathways covering about 90% of U.S. commercial lives and more than 80% of Medicaid lives. The company is expanding treatment sites, referral networks, disease awareness efforts, and patient-support infrastructure.
• iDose TR sales reached approximately $76 million, with the U.S. glaucoma franchise growing 47% year over year. A phase IV study showed an 11.1 mmHg reduction in intraocular pressure and a statistically significant 3.6 mmHg incremental benefit when iDose was added to cataract surgery.
• Potential Medicare local coverage determinations for iDose remain an important uncertainty. Management said its $1 billion 2027 outlook considers restrictive LCD scenarios, but the timing and final terms remain unknown and could affect iDose utilization.
• Profitability and cash generation improved as the business scaled, with non-GAAP gross margin near 88%, more than $50 million in quarterly cash generation, and $28.5 million in non-GAAP net income. Management expects gross-margin durability as Epioxa and iDose become a larger share of revenue, while continuing substantial investment in its ophthalmology pipeline.

Glaukos Price Performance

Glaukos stock traded down $2.70 during midday trading on Friday, hitting $239.78. The company’s stock had a trading volume of 1,123,997 shares, compared to its average volume of 902,372. Glaukos has a 12 month low of $80.90 and a 12 month high of $248.75. The company has a quick ratio of 4.46, a current ratio of 5.04 and a debt-to-equity ratio of 0.10. The stock’s 50-day moving average price is $172.26 and its 200-day moving average price is $140.51. The company has a market capitalization of $14.14 billion, a PE ratio of -81.70 and a beta of 0.69.

Insider Buying and Selling at Glaukos

In related news, COO Joseph E. Gilliam sold 60,000 shares of Glaukos stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $179.74, for a total value of $10,784,400.00. Following the transaction, the chief operating officer owned 72,588 shares of the company’s stock, valued at approximately $13,046,967.12. This trade represents a 45.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gilbert Kliman sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $190.00, for a total transaction of $475,000.00. Following the completion of the sale, the director owned 37,406 shares of the company’s stock, valued at approximately $7,107,140. This trade represents a 6.26% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 82,500 shares of company stock valued at $14,862,000. Corporate insiders own 5.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on GKOS. Mizuho set a $225.00 price target on shares of Glaukos in a research note on Thursday. Jefferies Financial Group increased their price objective on shares of Glaukos from $190.00 to $210.00 and gave the company a “buy” rating in a research report on Tuesday, September 22nd. Wells Fargo & Company upped their target price on Glaukos from $178.00 to $226.00 and gave the company an “overweight” rating in a research report on Thursday. Truist Financial lifted their price objective on shares of Glaukos from $215.00 to $255.00 and gave the stock a “buy” rating in a report on Thursday. Finally, UBS Group started coverage on shares of Glaukos in a report on Tuesday, July 28th. They set a “neutral” rating and a $150.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $216.71.

More Glaukos News

Here are the key news stories impacting Glaukos this week:

• Positive Sentiment: Raised 2026 and 2027 sales outlooks: Glaukos now expects fiscal 2026 revenue of $775 million-$785 million, well above the $691.5 million consensus estimate. Management also issued a preliminary 2027 revenue target of $1 billion, exceeding the $849 million consensus and signaling confidence in continued growth from its glaucoma and corneal-health businesses. Glaukos Sets $1 Billion 2027 Sales Goal
• Positive Sentiment: Q3 results substantially exceeded expectations: Revenue rose 58% year over year to approximately $211 million versus the $168 million analyst forecast. Reported quarterly EPS of $0.47 compared with expectations for a loss of roughly $0.10-$0.12, while the company moved into profitability on a GAAP basis. Glaukos Q3 Earnings and Revenues Surpass Estimates
• Positive Sentiment: Analyst sentiment improved: Zacks Research upgraded GKOS from “hold” to “strong buy.” JPMorgan, Wells Fargo, BTIG, Stifel and Needham also raised their price targets, with Needham’s $251 target remaining above the current trading level.
• Neutral Sentiment: Shares have already repriced sharply: The stock rose about 26% following the “exceptional” quarter and reached an all-time high, increasing the risk that short-term investors lock in gains after the earnings-driven rally.
• Negative Sentiment: Profitability remains thin: Although the headline EPS beat was substantial, GAAP net income was only about $2 million, and the company continues to report a negative net margin. This may temper enthusiasm if investors question how quickly higher sales will translate into durable earnings.
• Negative Sentiment: Several targets remain below the market: Wells Fargo, BTIG and Stifel’s revised targets are below the current share price, suggesting limited near-term upside at those firms. Reported insider activity also shows selling rather than open-market purchases over the past six months.

About Glaukos

Glaukos Corporation is an ophthalmic medical-technology company focused on developing and commercializing therapies for chronic eye diseases. The company’s principal areas of focus include glaucoma, corneal disorders and retinal diseases, with an emphasis on treatments that may reduce reliance on conventional pharmaceuticals or more invasive surgical procedures.

Glaukos is best known for its micro-invasive glaucoma surgery (MIGS) products, including the iStent family of implantable devices used to help lower intraocular pressure in patients with glaucoma.