$GKOS · GLAUKOS Corp
Glaukos Corporation filed its 10-Q for Q3 FY2026, reporting net sales of $211M (+58% YoY), gross margin of 85.2%, and net income of $2M ($0.03/share diluted) — its first profitable quarter after a $16.2M loss in the prior-year period. Nine-month revenue reached $547.2M (+50% YoY) with an accumulated deficit of $969.3M. The company also disclosed a new Huntsville, Alabama R&D and manufacturing facility expected to cost approximately $42M over a multi-year buildout.
- Q3 net sales hit $211M, up 58% YoY from $133.5M, driven by iDose TR and Epioxa adoption.
- Gross margin expanded to 85.2% on $179.9M gross profit vs. $104.7M a year ago.
- Q3 swung to net income of $2M ($0.03/share diluted) from a $16.2M loss in Q3 2025.
- SG&A nearly doubled to $130.9M from $83M, reflecting commercial scaling of new products.
- Nine-month operating loss narrowed to $36.3M from $59.7M, with revenue up 50% to $547.2M.
Extended-hours trading shows GKOS at $214.50, up 18.23% vs. the $181.47 regular close — the market is rewarding the first profitable quarter and 58% revenue growth. The $10.7B market cap reflects high growth expectations now being validated.
Glaukos's first-ever GAAP-profitable quarter and 58% revenue growth signal that its next-gen glaucoma and corneal therapies are reaching commercial escape velocity.
Glaukos's 58% revenue growth and swing to profitability outpaces most ophthalmic med-tech peers, validating the premium valuation thesis around its next-gen glaucoma and corneal therapies.
Commercial success hinges on iDose TR and Epioxa adoption; any slowdown could materially impact the business. Supply/manufacturing disruptions for principal revenue products could reduce gross margins and harm operating results.