Glaukos Sets $1 Billion 2027 Sales Goal: Rapid Earnings Reaction

Glaukos (NYSE:GKOS) raised its 2026 sales forecast to $775 million to $785 million and set a preliminary 2027 target of $1 billion. Shares rose about 31% in midday trading. Third-quarter sales jumped 58% to about $211 million. The company's two newer launches now bring in enough to cover its heavy spending, and the 2027 target looks cautious, not stretched. The growth is concentrated where it matters. U.S. Glaucoma includes the iDose TR drug implant, and Corneal Health includes the newer Epioxa treatment. Those two segments supplied all of the gain over the second quarter, while international glaucoma sales fell about 9%. Cost of sales barely rose as revenue surged, so the drug-based mix flows straight into gross margin. Profit is thinner than the adjusted figures suggest. GAAP operating income was barely positive. The adjusted version excludes about $20 million of legal costs, including a resolution agreement with the University of California's regents that the release doesn't explain. Litigation costs were also excluded earlier in the year, so treating them as one-time is generous.

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