Analyst Consensus ?
ConsensusBuy25 ratings
Bullish1872.0%
Neutral624.0%
Bearish14.0%
Glaukos Corporation · GKOS · FY2025 Q4 · Calendar Q1 2026
Glaukos grows Q4 sales as Epioxa launch and payer access move to the fore
Glaukos’s record sales and maintained FY2026 outlook support a growth case led by iDose TR and Epioxa, but sustained execution depends on adoption, payer coverage and managing launch-related costs. The quarter’s revenue beat alongside an EPS shortfall makes profitability and launch progress important evidence to monitor.
Reported After market closeNYSEHealthcare
$14.07B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$-0.28
Consensus $-0.22
EPS surprise
-27.3%
Reported versus consensus
Reported revenue
$143.1M
Consensus $136.4M
Revenue surprise
+4.9%
Reported versus consensus
Market reaction
event-close to next-session close
Stock move
+13.5%
Event window
SPY move
+0.5%
Same window
Abnormal move
+13.0%
Stock minus SPY
Volume
2.2×
Versus trailing sessions
Subsequent drift
-14.7%
Up to 20 sessions
GKOSSPY benchmark
Ask FN2 about GKOS FY2025 Q4
Transcript, numbers and history already loaded
Why did GKOS rise 13.5% after missing EPS estimates in FY2025 Q4?What changed in GKOS's guidance and outlook in FY2025 Q4?Give me the bull and bear case for GKOS after FY2025 Q4 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Management reported record FY2025 fourth-quarter and full-year sales, reaffirmed FY2026 sales guidance, and highlighted iDose TR’s expanded re-administration label and Epioxa’s early site-of-care buildout. The reported quarter also exceeded the revenue estimate but fell short of the EPS estimate. Compared with the prior-quarter analysis, the focus has shifted from planned launches toward early commercialization, access and investment execution.
Guidance delta
Management maintained FY2026 net-sales guidance at $600 million to $620 million; no change was reported in the supplied analysis.
Key takeaways
- Q4 net sales were $143.1 million versus a $136.4 million estimate, while EPS was -$0.28 versus a -$0.22 estimate.
- Management reaffirmed FY2026 net-sales guidance of $600 million to $620 million, framing iDose TR and Epioxa as major growth drivers.
- Management cited iDose TR adoption, its unlimited re-administration label and Epioxa’s developing U.S. site-of-care reach as commercial supports.
- Operating expenses are expected to rise in the mid-teens percentage range as Glaukos invests in launches and targets cash-flow breakeven in 2026.
Management priorities
- Scale iDose TR adoption and surgeon training; advance Phase III iDose TREX and Phase IIIb iDose TRIO trials.
- Expand Epioxa’s site-of-care network, pursue payer coverage and move toward the permanent J-code described in the analysis.
- Continue iStent infinite’s European commercialization and advance the iLink, ILution and retinal programs.
Follow GKOS with an agent that reads every filing, transcript, and price print. Free to start.
Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$237.6Previous close
$42Low
$177.38Average
$255High
Latest persisted target per named analyst; persisted previous close from FN2's market snapshot as of Nov 2, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Wells Fargo | Overweight | Overweight | Maintain | Oct 29, 2026 |
| Truist Securities | Buy | Buy | Maintain | Oct 29, 2026 |
| Stifel | Buy | Buy | Maintain | Oct 29, 2026 |
| Piper Sandler | Overweight | Overweight | Maintain | Oct 29, 2026 |
| Needham | Buy | Buy | Maintain | Oct 29, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | Oct 29, 2026 |
| HC Wainwright & Co. | Buy | Buy | Maintain | Oct 29, 2026 |
| Citigroup | Buy | Buy | Maintain | Oct 29, 2026 |
| BTIG | Buy | Buy | Maintain | Oct 29, 2026 |
| Jefferies | Buy | Buy | Maintain | Sep 22, 2026 |
| UBS | Neutral | Neutral | Maintain | Jul 30, 2026 |
| Stephens & Co. | Overweight | Overweight | Maintain | Jan 2, 2026 |
| Morgan Stanley | Underweight | Underweight | Maintain | May 6, 2025 |
| Mizuho | Outperform | Outperform | Maintain | Apr 16, 2025 |
| William Blair | Outperform | Market Perform | Upgrade | Feb 3, 2022 |
| Oppenheimer | Perform | Outperform | Downgrade | Jul 14, 2021 |
| Stifel Nicolaus | Hold | Hold | Maintain | Feb 28, 2020 |
| Berenberg | Buy | Hold | Upgrade | Jan 6, 2020 |
| BMO Capital | Market Perform | Market Perform | Maintain | May 9, 2019 |
| BTIG Research | Neutral | Neutral | Maintain | Mar 8, 2019 |
| Roth Capital | Buy | Buy | Maintain | Aug 2, 2016 |
| Cantor Fitzgerald | Buy | Buy | Maintain | Jun 2, 2016 |
| PiperJaffray | Overweight | Overweight | Maintain | Feb 9, 2016 |
| Goldman Sachs | Neutral | Neutral | Maintain | Jul 20, 2015 |
| Canaccord Genuity | Buy | Buy | Maintain | Jul 20, 2015 |
Named analyst price targets
Upside is calculated against the persisted previous close $237.6. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| H.C. Wainwright | Yi Chen | $248 | $237.73 | +4.4% | Oct 29, 2026 |
| Stifel Nicolaus | Thomas Stephan | $225 | $181.43 | -5.3% | Oct 29, 2026 |
| Piper Sandler | Matt O'Brien | $240 | $181.43 | +1.0% | Oct 29, 2026 |
| Needham | David Saxon | $251 | $181.43 | +5.6% | Oct 29, 2026 |
| Mizuho Securities | Anthony Petrone | $225 | $181.43 | -5.3% | Oct 29, 2026 |
| Truist Financial | Richard Newitter | $255 | $181.43 | +7.3% | Oct 29, 2026 |
| Mizuho Securities | Analyst unavailable | $190 | $168.02 | -20.0% | Oct 13, 2026 |
| BTIG | Ryan Zimmerman | $205 | $166.06 | -13.7% | Oct 12, 2026 |
| Jefferies | Analyst unavailable | $210 | $162.24 | -11.6% | Sep 22, 2026 |
| BTIG | Analyst unavailable | $202 | $189.55 | -15.0% | Aug 20, 2026 |
| H.C. Wainwright | Analyst unavailable | $195 | $170.67 | -17.9% | Jul 30, 2026 |
| Stifel Nicolaus | Analyst unavailable | $190 | $161.66 | -20.0% | Jul 30, 2026 |
| Piper Sandler | Matt O'Brien | $195 | $161.66 | -17.9% | Jul 30, 2026 |
| Wells Fargo | Larry Biegelsen | $178 | $161.66 | -25.1% | Jul 30, 2026 |
| Needham | David Saxon | $201 | $161.66 | -15.4% | Jul 30, 2026 |
| Truist Financial | Richard Newitter | $215 | $161.66 | -9.5% | Jul 30, 2026 |
| UBS | Analyst unavailable | $150 | $151.91 | -36.9% | Jul 28, 2026 |
| Truist Financial | Analyst unavailable | $180 | $159.17 | -24.2% | Jul 16, 2026 |
| BTIG | Analyst unavailable | $164 | $152.72 | -31.0% | Jul 13, 2026 |
| H.C. Wainwright | Analyst unavailable | $168 | $148.34 | -29.3% | Jul 6, 2026 |
| Needham | David Saxon | $150 | $127.53 | -36.9% | Jun 17, 2026 |
| BTIG | Ryan Zimmerman | $162 | $143.82 | -31.8% | May 21, 2026 |
| Stifel Nicolaus | Thomas Stephan | $170 | $135.57 | -28.5% | Apr 30, 2026 |
| BTIG | Analyst unavailable | $141 | $116.96 | -40.7% | Apr 30, 2026 |
| Needham | Analyst unavailable | $136 | $116.96 | -42.8% | Apr 30, 2026 |
| Needham | David Saxon | $127 | $106.64 | -46.5% | Feb 18, 2026 |
| Wells Fargo | Analyst unavailable | $135 | $106.64 | -43.2% | Feb 18, 2026 |
| BTIG | Analyst unavailable | $131 | $125.46 | -44.9% | Jan 28, 2026 |
| Stifel Nicolaus | Analyst unavailable | $160 | $124.16 | -32.7% | Jan 22, 2026 |
| Piper Sandler | Analyst unavailable | $165 | $100.62 | -30.6% | Jan 14, 2026 |
| Goldman Sachs | Analyst unavailable | $138 | $114.15 | -41.9% | Jan 9, 2026 |
| Stephens | Analyst unavailable | $145 | $112.91 | -39.0% | Jan 2, 2026 |
| UBS | Analyst unavailable | $145 | $117.09 | -39.0% | Dec 23, 2025 |
| Truist Financial | Analyst unavailable | $145 | $115.85 | -39.0% | Dec 18, 2025 |
| UBS | Analyst unavailable | $165 | $113.76 | -30.6% | Dec 17, 2025 |
| Needham | Analyst unavailable | $125 | $108.82 | -47.4% | Dec 9, 2025 |
| UBS | Danielle Antalffy | $140 | $86.22 | -41.1% | Nov 10, 2025 |
| Truist Financial | Richard Newitter | $120 | $96.81 | -49.5% | Oct 30, 2025 |
| BTIG | Analyst unavailable | $116 | $77.09 | -51.2% | Oct 30, 2025 |
| Wells Fargo | Analyst unavailable | $122 | $77.09 | -48.7% | Oct 30, 2025 |
| Needham | David Saxon | $117 | $77.09 | -50.8% | Oct 30, 2025 |
| Stifel Nicolaus | Thomas Stephan | $115 | $74.67 | -51.6% | Oct 27, 2025 |
| BTIG | Ryan Zimmerman | $104 | $82.56 | -56.2% | Oct 13, 2025 |
| Goldman Sachs | Analyst unavailable | $103 | $81.55 | -56.6% | Oct 1, 2025 |
| Mizuho Securities | Analyst unavailable | $130 | $94.05 | -45.3% | Jul 31, 2025 |
| Truist Financial | Richard Newitter | $135 | $83.54 | -43.2% | May 1, 2025 |
| Stifel Nicolaus | Thomas Stephan | $175 | $149.94 | -26.3% | Dec 31, 2024 |
| Truist Financial | Richard Newitter | $185 | $145.14 | -22.1% | Dec 18, 2024 |
| Stifel Nicolaus | Thomas Stephan | $153 | $140.18 | -35.6% | Dec 2, 2024 |
| Morgan Stanley | Patrick Wood | $120 | $140.8 | -49.5% | Dec 2, 2024 |
| Needham | David Saxon | $149 | $127.45 | -37.3% | Nov 5, 2024 |
| BTIG | Ryan Zimmerman | $140 | $127.86 | -41.1% | Nov 5, 2024 |
| Jefferies | Michael Sarcone | $155 | $134.08 | -34.8% | Oct 29, 2024 |
| Truist Financial | Samuel Brodovsky | $152 | $132.87 | -36.0% | Oct 21, 2024 |
| Piper Sandler | Matt O'Brien | $140 | $128.2 | -41.1% | Oct 17, 2024 |
| BTIG | Ryan Zimmerman | $139 | $127.78 | -41.5% | Sep 23, 2024 |
| Stifel Nicolaus | Thomas Stephan | $145 | $134.52 | -39.0% | Sep 3, 2024 |
| Stifel Nicolaus | Thomas Stephan | $130 | $111.63 | -45.3% | Jun 5, 2024 |
| Wells Fargo | Larry Biegelsen | $120 | $112.72 | -49.5% | Jun 3, 2024 |
| Truist Financial | Samuel Brodovsky | $125 | $108.89 | -47.4% | May 28, 2024 |
| Piper Sandler | Matt O'Brien | $110 | $107.94 | -53.7% | May 21, 2024 |
| Jefferies | Michael Sarcone | $125 | $106.51 | -47.4% | May 6, 2024 |
| Needham | David Saxon | $113 | $98.91 | -52.4% | May 2, 2024 |
| Stephens | Analyst unavailable | $68 | $41.28 | -71.4% | Dec 28, 2022 |
| J.P. Morgan | Analyst unavailable | $42 | $42.48 | -82.3% | Dec 19, 2022 |
| BTIG | Ryan Zimmerman | $66 | $61.26 | -72.2% | Apr 21, 2022 |
Track every rating change on GKOS the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationGlaukos Corporation operates as an ophthalmic medical technology and pharmaceutical enterprise, primarily focused on pioneering novel therapies for glaucoma, corneal disorders, and retinal diseases. The company offers a range of micro-bypass stents, including iStent, iStent inject, and iStent inject W. These devices are designed to enhance aqueous humor outflow, being inserted during cataract surgery to treat mild-to-moderate open-angle glaucoma. Its promising product pipeline features iStent Infinite, a three-stent system intended for standalone use in patients with refractory glaucoma, as well as iDose TR, a targeted injectable implant that utilizes Glaukos's micro-scale device platform to deliver therapeutic levels of medication. The company distributes its products through a direct sales organization and a network of distributors, serving markets across the United States and internationally. Glaukos Corporation, founded in 1998, is headquartered in San Clemente, California.
Historical context
All GKOS earningsHealthcare peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| AZN AstraZeneca PLC | FY2026 Q3 · Calendar Q4 2026 | +7.3% | +7.0% | AstraZeneca pairs solid growth with pipeline investment and restructuring |
| BTSG BrightSpring Health Services, Inc. Common Stock | FY2026 Q3 · Calendar Q4 2026 | +14.2% | +11.1% | BrightSpring posts strong Q3 growth while maintaining guidance |
| ABBV AbbVie Inc. | FY2026 Q3 · Calendar Q4 2026 | +2.4% | +1.4% | AbbVie raises 2026 guidance as Skyrizi and Rinvoq drive Q3 growth |
| BTSGU BrightSpring Health Services, Inc. Tangible Equity Unit | FY2026 Q3 · Calendar Q4 2026 | +14.2% | +10.0% | BrightSpring posts strong Q3 growth as pharmacy leads |
| REGN Regeneron Pharmaceuticals, Inc. | FY2026 Q3 · Calendar Q4 2026 | +21.6% | +13.3% | Regeneron posts strong Q3 growth as pipeline expands |
| EXEL Exelixis, Inc. | FY2026 Q3 · Calendar Q4 2026 | +6.0% | +4.8% | Exelixis highlights zanzalintinib pipeline after strong Q3 |
Latest beats and misses
Who reports nextBeat on EPS
- CHDFY2026 Q3 · October 30, 2026+2.2% EPS+1.2% move
- AZNFY2026 Q3 · October 30, 2026+7.3% EPS+7.0% move
- FRTFY2026 Q3 · October 30, 2026+3.9% EPS-1.1% move
- CVXFY2026 Q3 · October 30, 2026+8.4% EPS+1.8% move
- BTSGFY2026 Q3 · October 30, 2026+14.2% EPS+11.1% move
- EXCFY2026 Q3 · October 30, 2026+10.4% EPS+0.5% move
Missed on EPS
- GLPIFY2026 Q3 · October 29, 2026-11.5% EPS-1.3% move
- LYBFY2026 Q3 · October 30, 2026-1.2% EPS+5.0% move
- CCJFY2026 Q3 · October 30, 2026-101.4% EPS-7.9% move
- VALEFY2026 Q3 · October 29, 2026-24.6% EPS+1.9% move
- DLR-PLFY2026 Q3 · October 29, 2026-8.4% EPS— move
- DLR-PKFY2026 Q3 · October 29, 2026-8.4% EPS— move
Get the GKOS recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-11-02T06:30:43.471891+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-11-02T06:30:43.469141+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-11-02. For educational purposes only; not investment advice.