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

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

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 Trading Up 5.5%

GKOS stock traded up $8.83 during midday trading on Thursday, hitting $170.49. The company had a trading volume of 1,294,893 shares, compared to its average volume of 879,273. The company has a current ratio of 5.43, a quick ratio of 4.73 and a debt-to-equity ratio of 0.10. Glaukos has a 52 week low of $73.16 and a 52 week high of $184.00. The stock has a market cap of $10.01 billion, a price-to-earnings ratio of -51.79 and a beta of 0.75. The stock’s 50 day moving average price is $136.63 and its 200 day moving average price is $124.40.

Insider Activity

In other news, CFO Alex R. Thurman sold 10,000 shares of the company’s stock in a transaction dated Thursday, July 16th. The shares were sold at an average price of $160.00, for a total transaction of $1,600,000.00. Following the completion of the transaction, the chief financial officer directly owned 43,906 shares of the company’s stock, valued at approximately $7,024,960. This represents a 18.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Leana Wen sold 1,700 shares of the firm’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $143.35, for a total value of $243,695.00. Following the completion of the sale, the director directly owned 19,739 shares in the company, valued at $2,829,585.65. The trade was a 7.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 61,273 shares of company stock valued at $9,082,003. 5.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Glaukos

Several hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC boosted its holdings in Glaukos by 2.6% in the first quarter. AQR Capital Management LLC now owns 7,788 shares of the medical instruments supplier’s stock valued at $766,000 after acquiring an additional 198 shares in the last quarter. Jones Financial Companies Lllp lifted its position in shares of Glaukos by 1,405.9% in the 1st quarter. Jones Financial Companies Lllp now owns 2,560 shares of the medical instruments supplier’s stock worth $252,000 after purchasing an additional 2,390 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Glaukos by 41.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 229,994 shares of the medical instruments supplier’s stock valued at $22,636,000 after purchasing an additional 67,668 shares in the last quarter. M&T Bank Corp bought a new stake in shares of Glaukos during the 2nd quarter valued at about $203,000. Finally, Gamco Investors INC. ET AL increased its position in shares of Glaukos by 10.7% during the second quarter. Gamco Investors INC. ET AL now owns 8,001 shares of the medical instruments supplier’s stock valued at $826,000 after buying an additional 773 shares during the period. 99.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GKOS has been the topic of several research reports. HC Wainwright began coverage on shares of Glaukos in a research report on Monday, July 6th. They set a “buy” rating and a $168.00 price objective on the stock. BTIG Research raised their price target on Glaukos from $164.00 to $193.00 and gave the company a “buy” rating in a research report on Thursday. JPMorgan Chase & Co. upped their price objective on Glaukos from $120.00 to $140.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. William Blair reiterated an “outperform” rating on shares of Glaukos in a research report on Tuesday, May 26th. Finally, Needham & Company LLC raised their price objective on Glaukos from $150.00 to $201.00 and gave the company a “buy” rating in a report on Thursday. Twelve investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $170.62.

Key Stories Impacting Glaukos

Here are the key news stories impacting Glaukos this week:

• Positive Sentiment: Glaukos reported record second-quarter net sales of $185.6 million, up approximately 50% year over year and well above the roughly $151 million analyst consensus. The company also posted a smaller-than-expected adjusted loss of $0.14 per share versus estimates for a $0.21 loss. Glaukos Announces Second Quarter 2026 Financial Results
• Positive Sentiment: The company raised its fiscal 2026 net-sales outlook to $680 million-$700 million, above the approximately $630 million Wall Street forecast. Management expects iDose TR, its sustained-release glaucoma treatment, to generate about $275 million-$280 million in 2026 sales, supporting the bullish growth narrative. Glaukos 2026 Net Sales and iDose TR Outlook
• Positive Sentiment: BTIG Research raised its price target from $164 to $193 and reiterated a Buy rating, signaling confidence that the earnings momentum and iDose TR opportunity can support further gains.
• Positive Sentiment: Glaukos also completed enrollment in its PreserFlo MicroShunt trial, an advancement that could support the company’s longer-term glaucoma product pipeline. Glaukos PreserFlo MicroShunt Trial Enrollment
• Neutral Sentiment: UBS initiated coverage with a Neutral rating and a $150 price target, providing a more cautious view after the stock’s strong run. UBS Initiates Coverage of Glaukos
• Negative Sentiment: Glaukos remains unprofitable, reporting an operating loss and negative net income despite improved revenue and gross profit. Continued losses and negative operating cash flow could limit upside if expense growth persists.
• Negative Sentiment: Insider activity remains a potential overhang: executives, including the CFO, have reported stock sales and no open-market purchases in recent months. The disclosed CFO sale was made under a pre-arranged Rule 10b5-1 plan.

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.