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.

• Gross margin improved to approximately 82% (GAAP) and 85% (non-GAAP), reflecting favorable product mix and higher-margin products.

• Raised full-year 2026 net sales guidance to $680–$700 million, an increase from previous guidance.

• Continued advancement of pipeline and commercial launches, with Epioxa receiving a permanent J-code effective July 2026.

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

Financial highlights

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

• Gross margin: 82% (GAAP), 85% (non-GAAP), up from 78% and 83% in Q2 2025.

• U.S. glaucoma franchise Q2 net sales: $118.5 million, up 64% year-over-year, with iDose TR contributing ~$74 million.

• Corneal health net sales: $30.4 million, up 48% year-over-year, including ~$11 million from Epioxa.

• Net loss per share for Q2: $(0.31); non-GAAP net loss: $8.3 million ($0.14 per share), both improved year-over-year.

Outlook and guidance

• Full-year 2026 net sales guidance raised to $680–$700 million.

• U.S. glaucoma expected to grow ~50% year-over-year; 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.

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

• Gross margin guidance maintained at 84%–86% for the year; operating expenses expected around $600 million.