Glaukos (GKOS) Q2 2026 earnings summary

Executive summary

• Achieved record Q2 2026 net sales of $185.6 million, up 50% year-over-year, driven by strong performance in glaucoma and corneal health, especially iDose TR and Epioxa.

• Raised full-year 2026 net sales guidance to $680–$700 million, reflecting outperformance and confidence in growth drivers.

• Gross margin improved to approximately 82% (GAAP) and 85% (non-GAAP) in Q2 2026, up from prior year.

• Net loss for Q2 2026 was $18.4 million, a 7% improvement from the prior year.

• Controlled commercial launches of iDose TR and Epioxa are underway, with Epioxa receiving a permanent J-code effective July 2026.

Financial highlights

• Q2 2026 net sales: $185.6 million (up 50% year-over-year); six months: $336.2 million (up 46%).

• U.S. glaucoma franchise delivered record Q2 net sales of $118.5 million, up 64% year-over-year, with iDose TR contributing significantly.

• International glaucoma net sales reached $36.6 million, up 17% year-over-year, with broad-based growth and contributions from iStent infinite.

• Corneal health franchise posted $30.4 million in net sales, up 48% year-over-year, including strong Epioxa launch.

• Gross profit for Q2: $151.6 million (up 56%); gross margin: 82% (GAAP), 85% (non-GAAP).

Outlook and guidance

• Full-year 2026 net sales guidance raised to $680–$700 million, reflecting strong Q2 performance and favorable currency rates.

• U.S. glaucoma expected to grow ~50% year-over-year, with iDose TR projected at $275M–$280M for 2026.

• Corneal health franchise now expected to grow ~20% year-over-year, up from prior high single-digit guidance.

• International glaucoma growth forecasted at low to mid-teens year-over-year, with FX tailwinds abating and some reimbursement headwinds in Europe.

• Construction of a new R&D and manufacturing facility in Huntsville, Alabama to begin in 2026, with over $80 million in planned capital expenditures.