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Bausch + Lomb (BLCO) investor relations material
Bausch + Lomb Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary29 Oct, 2025
Executive summary
Achieved 6% constant currency revenue growth year-over-year in Q3 2025, with total revenue of $1.281 billion and broad-based growth across all business units, led by Pharmaceuticals and Vision Care.
Pharmaceuticals segment was a standout, with MIEBO delivering $84 million in revenue, 110% TRx growth year-over-year, and 33% sequential revenue growth.
Vision Care and Surgical segments posted growth, with premium IOLs up 27% constant currency and contact lens portfolio up 6% constant currency.
Advanced R&D pipeline with key clinical milestones, including successful LUMIFY Phase 3 and new clinical study initiations in bioactive contact lens, dry eye, ocular surface pain, and glaucoma.
Introduced a new strategic pillar, Financial Excellence, focused on disciplined execution, margin expansion, and cash flow optimization.
Financial highlights
Q3 2025 revenue reached $1.281 billion, up 7% year-over-year (6% constant currency); currency was a $19 million tailwind.
Adjusted EBITDA (excluding acquired IPR&D) was $243 million, up 7% year-over-year, with a margin of 19%.
Adjusted gross margin was 61.7%, down 130 basis points year-over-year due to product mix and Invista IOL recall.
Adjusted net income attributable to the company was $66 million, up 43% year-over-year; adjusted EPS was $0.18.
Cash flow from operations was $137 million; adjusted cash flow from operations was $161 million.
Outlook and guidance
Full-year 2025 revenue guidance maintained at $5.05–$5.15 billion, representing 5–7% constant currency growth; adjusted EBITDA guidance updated to $870–$910 million.
Constant currency revenue growth guidance is 5–7%, or 6–8% excluding the enVista recall impact.
Key assumptions include interest expense of ~$375 million, R&D at ~7.5% of revenue, adjusted tax rate of ~15%, and CapEx at ~$295 million.
Currency tailwinds expected to contribute $30 million to full-year results.
Guidance assumes ability to offset tariff impacts in 2025.
Key milestones for bioactive lens or lifitegrast?
Explain Q3 net loss despite operating income growth.
Why was full-year revenue guidance not updated?
How will Financial Excellence sustain margin growth?
MIEBO profitability timeline update?
What drives contact lens market softness?
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Next Bausch + Lomb earnings date
Investor Day 202513 Nov, 2025
Next Bausch + Lomb earnings date
Investor Day 202513 Nov, 2025
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Frequently asked questions
Bausch + Lomb Corporation is a global healthcare company specializing in eye health products. The company offers a wide range of products across three primary segments: Vision Care, Ophthalmic Pharmaceuticals, and Surgical. Its portfolio includes contact lenses, lens care solutions, prescription eye medications, over-the-counter eye care products, and surgical devices for cataract, vitreoretinal, and refractive procedures. The company is headquartered in Vaughan, Canada, and its shares are listed on the NYSE (New York Stock Exchange).
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