Glaukos (NYSE:GKOS) Issues Earnings Results

Glaukos (NYSE:GKOS) posted its quarterly earnings data on Tuesday. The medical instruments supplier reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.06), FiscalAI reports. The firm had revenue of $143.12 million for the quarter, compared to the consensus estimate of $132.16 million. Glaukos had a negative return on equity of 7.52% and a negative net margin of 18.65%.The company’s revenue for the quarter was up 35.6% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.40) EPS.

Here are the key takeaways from Glaukos’ conference call:

• Glaukos reported record Q4 net sales of $143.1 million (+36% YoY) and record FY2025 sales of $507.4 million, and reaffirmed FY2026 guidance of $600 million–$620 million (implying >20% growth at the midpoint).
• iDose TR drove U.S. glaucoma strength (U.S. glaucoma Q4 sales $86.4M; iDose TR ≈ $45M in Q4 and ≈ $136M in 2025) and the FDA approved unlimited re-administration labeling, which management says should expand patient access and lifetime treatment opportunities.
• The company received FDA approval for Epioxa (topical, epithelium-on corneal cross-linking) and has begun wave-one commercial launch activities—O2N systems deployed covering nearly 50% of the U.S. population, payer outreach covering ~50% of commercially insured lives, and a permanent J-code expected in July 2026—though initial adoption will be gated by site-of-care rollout and payer prior-authorization timing.
• International glaucoma grew in Q4 but management expects competitive product trialing headwinds in several major international markets in 2026, guiding toward high single-digit growth internationally and potential pressure on market share.
• Management plans disciplined spending—projecting mid‑teens % OpEx growth and operating expenses around $555M–$560M in 2026—aiming for operating leverage and potential cash‑flow breakeven while continuing heavy R&D investment in the pipeline.

Glaukos Stock Down 2.2%

Shares of NYSE GKOS opened at $107.08 on Wednesday. Glaukos has a 12-month low of $73.16 and a 12-month high of $161.78. The company has a current ratio of 5.20, a quick ratio of 4.47 and a debt-to-equity ratio of 0.09. The firm’s 50-day moving average price is $114.66 and its 200-day moving average price is $98.34. The stock has a market capitalization of $6.15 billion, a price-to-earnings ratio of -69.53 and a beta of 0.70.

Wall Street Analyst Weigh In

GKOS has been the subject of several recent research reports. Wall Street Zen raised shares of Glaukos from a “hold” rating to a “buy” rating in a research report on Saturday, February 7th. Stifel Nicolaus lifted their price target on Glaukos from $115.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. Citigroup increased their price target on shares of Glaukos from $113.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Truist Financial raised their target price on Glaukos from $120.00 to $145.00 and gave the company a “buy” rating in a research note on Thursday, December 18th. Finally, UBS Group upped their target price on shares of Glaukos from $140.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, December 23rd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $132.54.

Insider Buying and Selling at Glaukos

In other news, COO Joseph E. Gilliam sold 10,498 shares of the stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $127.68, for a total transaction of $1,340,384.64. Following the transaction, the chief operating officer owned 92,366 shares of the company’s stock, valued at approximately $11,793,290.88. This represents a 10.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Thomas William Burns sold 186,945 shares of the business’s stock in a transaction dated Friday, January 16th. The shares were sold at an average price of $115.00, for a total transaction of $21,498,675.00. Following the completion of the sale, the chief executive officer owned 153,775 shares of the company’s stock, valued at approximately $17,684,125. This represents a 54.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 310,315 shares of company stock valued at $36,011,634. 6.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Glaukos

Several hedge funds have recently made changes to their positions in GKOS. Los Angeles Capital Management LLC purchased a new stake in shares of Glaukos in the 4th quarter valued at approximately $28,000. Smartleaf Asset Management LLC increased its stake in Glaukos by 16.2% in the second quarter. Smartleaf Asset Management LLC now owns 973 shares of the medical instruments supplier’s stock valued at $99,000 after purchasing an additional 136 shares during the period. Kestra Advisory Services LLC acquired a new position in Glaukos during the 4th quarter worth approximately $128,000. Van ECK Associates Corp increased its stake in Glaukos by 24.2% in the 3rd quarter. Van ECK Associates Corp now owns 1,738 shares of the medical instruments supplier’s stock valued at $142,000 after purchasing an additional 339 shares in the last quarter. Finally, Focus Partners Wealth raised its holdings in shares of Glaukos by 6.9% in the third quarter. Focus Partners Wealth now owns 2,714 shares of the medical instruments supplier’s stock worth $202,000 after acquiring an additional 176 shares during the last quarter. 99.04% of the stock is owned by institutional investors and hedge funds.

About Glaukos

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.