Glaukos Corporation reported first‑quarter 2026 net sales of $150.6 million, a 41 % year‑over‑year increase on a reported basis and 39 % on a constant‑currency basis. The company posted a GAAP net loss of $19.8 million, or $0.34 per share, while the non‑GAAP net loss narrowed to $0.18 per share from $0.22 in the same quarter a year earlier. The non‑GAAP loss per share beat the consensus estimate of $0.30, a beat of $0.12 per share.
U.S. glaucoma sales, driven by the iDose TR platform, rose 58 % to $93.5 million, while the Corneal Health franchise generated $21.3 million in net sales, up 15 % year‑over‑year. The early launch of Epioxa contributed to the growth of the corneal health segment, and Photrexa continued to drive sales within the franchise.
GAAP gross margin improved to 78 % and non‑GAAP gross margin reached 84 %, reflecting a favorable product mix and scale. Management attributed the narrowing loss to stronger product mix and cost control, with operating expenses kept in line with revenue growth.
In light of the performance, Glaukos raised its full‑year 2026 revenue guidance to $620 million–$635 million, up from the $600 million–$620 million range previously cited. The company reiterated its 2026 operating margin target of 15 %–18%, signaling confidence that the iDose TR mix will deepen and the Epioxa launch will gain traction.
Thomas Burns, Chairman and CEO, said, "Today, Glaukos reported record first quarter consolidated net sales of $150.6 million, up 41 % on a reported basis and 39 % on a constant currency basis versus the year ago quarter. As a result of our first quarter outperformance, we are raising our full year 2026 net sales guidance to $620 million to $635 million from $600 million to $620 million." Burns also noted that the results were driven by "strong execution across our global commercial and development priorities," and highlighted iDose TR and Epioxa as transformational growth drivers. Joseph Gilliam, President and COO, added, "The growth was broad‑based, with significant contributions from both established and newer Medicare Administrative Contractors (MACs). The expansion into commercial and Medicare Advantage patient flow also contributed to the strong performance."
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