Glaukos shares have surged 67.9% year to date, significantly outperforming its industry's 8.4% decline and the S&P 500's 12% return, driven by accelerating operating momentum from the commercial ramp of iDose TR and the early launch of Epioxa. Second-quarter revenues jumped 49.5% to $185.6 million, prompting management to raise 2026 revenue guidance by $60-$65 million to $680-$700 million. U.S. glaucoma revenues increased 64% to $118.5 million, with iDose TR sales reaching approximately $74 million, up 37% sequentially, while the Corneal Health franchise grew 48% to $30.4 million, including roughly $11 million from Epioxa. The company is expanding internationally, with second-quarter international revenues up 17% to $36.6 million, and is advancing a diversified pipeline across five novel therapeutic platforms and 13 publicly disclosed programs. Key risks include reimbursement execution for iDose TR, early-stage Epioxa commercialization, and competitive pressures from Alcon, Sight Sciences, and AbbVie.
Glaukos CorpiDose TR and Epioxa sales drive revenue growth and raised guidance.
Alcon AGMentioned as competitive pressure on Glaukos.
Sight Sciences IncMentioned as competitive pressure on Glaukos.
AbbVie Inc
Advanced Micro Devices Inc