Reimbursement Liaison - Glaucoma

Glaukos reported record second-quarter revenue of $185.6 million, up 50% year over year, driven by strong performance in US glaucoma, international glaucoma and corneal health. The company raised its full-year sales guidance to $680 million–$700 million, up from the prior range of $620 million–$635 million. US glaucoma franchise revenue reached $118.5 million, increasing 64% year over year, with iDose TR contributing approximately $74 million. Glaukos expects iDose TR revenue of roughly $275 million–$280 million in 2026. Corneal health revenue increased 48% to $30.4 million, supported by the Epioxa launch. Gross margin reached approximately 85% as management continues investing in commercialisation and its pipeline whilst targeting cash-flow breakeven.

Glaukos Q2 earnings call highlights. July 29, 2026 Key points. * Record Q2 sales: Glaukos reported $185.6 million in second-quarter revenue, up 50% year over year, driven by strong U.S. glaucoma, international glaucoma and corneal health performance. The company raised its 2026 sales guidance to $680 million-$700 million. * iDose TR led growth: U.S. glaucoma revenue rose 64% to $118.5 million, including approximately $74 million from iDose TR. Glaukos expects iDose TR revenue of roughly $275 million-$280 million in 2026, while Medicare coverage proposals remain under review. * Corneal health and profitability gains: Corneal health revenue increased 48% to $30.4 million, supported by the Epioxa launch, though third-quarter results may be volatile during the transition to its permanent billing code. Gross margin reached about 85%, and management continues investing in commercialization and its pipeline while targeting cash-flow breakeven. * MarketBeat previews top five stocks to own in August. Glaukos NYSE: GKOS reported record second-quarter 2026 consolidated net sales of $185.6 million, up 50% from the prior-year period on a reported basis and 49% on a constant-currency basis, as growth in its U.S. glaucoma, international glaucoma and corneal health businesses exceeded management's expectations. Chairman and CEO Tom Burns said the company raised its full-year net sales guidance to $680 million to $700 million, up from its prior range of $620 million to $635 million. The company cited continued adoption of iDose TR, the launch of Epioxa, and broad-based international growth as drivers of the stronger outlook. iDose TR drives U.S. Glaucoma growth. U.S. glaucoma franchise revenue reached a record $118.5 million in the second quarter, increasing 64% year over year. iDose TR contributed approximately $74 million of that total. Burns said physician interest and adoption of iDose TR continued to grow, supported by its clinical outcomes and what the company views as a shift toward earlier interventional glaucoma care. Glaukos is focused on adding trained surgeons and active accounts, increasing utilization, expanding market access, and growing clinical evidence for the treatment. President and COO Joe Gilliam said Glaukos now expects U.S. glaucoma revenue to grow about 50%, plus or minus, for the full year. The company expects its broader U.S. glaucoma portfolio to post at least low-single-digit growth, while iDose TR revenue is expected to land in a range of roughly $275 million to $280 million in 2026. Gilliam said the second-quarter iDose performance reflected acceleration across Medicare Administrative Contractor regions as well as increased activity among commercial and Medicare Advantage patients. He said the company did not identify material demand pull-forward related to proposed Medicare local coverage determinations, or LCDs. Five of seven Medicare Administrative Contractors issued proposed LCDs for iDose TR during the quarter. Gilliam said Glaukos was encouraged by support from physicians, medical societies and patients during public meetings and comment periods. He said the company believes the evidence supporting iDose TR should lead to a more favorable final policy if LCDs are finalized. Earlier in July, CMS issued proposed 2027 rules that, as drafted, largely maintain 2026 ambulatory payment classifications, facility payments and relative physician fee rates for Glaukos procedures in hospital outpatient and ambulatory surgical center settings, Burns said. International and corneal health performance. International glaucoma revenue was $36.6 million, up 17% reported and 16% on a constant-currency basis. Gilliam said Glaukos now expects low- to mid-teens international glaucoma growth for the full year. Discover more Stock Ratings Screener Management expects foreign-exchange tailwinds to diminish in the second half. The company also cited competitive product trialing and reimbursement headwinds in Germany and Switzerland, though it expects those factors to be partly offset by growth from PRESERFLO and iStent infinite. Corneal health revenue rose 48% to $30.4 million, including about $11 million in Epioxa sales. Epioxa is the company's FDA-approved epithelium-on corneal cross-linking therapy for keratoconus. Gilliam said Glaukos now expects the overall corneal health franchise to grow approximately 20%, plus or minus, in 2026. He cautioned that third-quarter performance could be volatile as the company transitions from Photrexa and a miscellaneous billing code to Epioxa's permanent product-specific J-code, which became effective July 1. "There will be some volatility" during the transition, Gilliam said, though he expects the related issues to begin moving behind the company in the fourth quarter. * O2n systems are deployed at locations serving roughly 85% of the U.S. population, with a pipeline that Glaukos expects could extend reach to approximately 95%. * Access pathways for Epioxa have been established for more than 125 million covered commercial lives, including arrangements involving the five largest U.S. payers. * Glaukos launched a co-pay assistance program for eligible patients and is investing in awareness, referral networks, earlier diagnosis and patient-support programs. Gilliam said the company has been encouraged by the number of patients being submitted for Epioxa approval, though providers and payers are adjusting to the new permanent J-code. He said some institutions and larger groups are more comfortable using a buy-and-bill model, while many community practices are initially relying more heavily on specialty pharmacy distribution. Pipeline and profitability focus. Glaukos said it continues to advance programs across five therapeutic platforms. Its pipeline includes iDose TREX, which is in a Phase II-B/III program; iDose Trio, with a Phase III-B study targeting FDA approval by the end of 2027; and a planned commercial introduction later this year of a keratoconus screening device. The company also said it is preparing a Phase III program for a third-generation customized topographically guided iLink therapy in 2027. In other programs, Glaukos completed enrollment in a 510(k) pivotal study for PRESERFLO MicroShunt and in a Phase II study for demodex blepharitis, with top-line results from the latter expected by year-end. The company is also advancing a first-in-human study of GLK-401 for wet age-related macular degeneration. Chief Financial Officer Alex Thurman said the company was pleased with second-quarter progress across gross margin, operating expenses, the bottom line and cash generation. Gross margin was approximately 85% in the quarter, up about 90 basis points sequentially, driven by a greater revenue contribution from iDose TR and Epioxa. Glaukos maintained its full-year gross-margin target of 84% to 86% and expects modest additional accretion through the remainder of 2026, particularly in the fourth quarter. Thurman said operating expenses are now expected to total around $600 million for the year. While management sees a clearer path toward profitability as revenue grows, Thurman said Glaukos intends to continue investing in commercialization and clinical development to support its product launches and pipeline, while managing the business toward cash-flow breakeven. About Glaukos (NYSE:GKOS). 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. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. Before you consider Glaukos, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Glaukos wasn't on the list. While Glaukos currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys. The AI boom extends far beyond the biggest tech names. 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Glaukos completes enrollment for glaucoma implant study. To support FDA submission Yuika Yoshida July 27, 2026 Glaukos Corp. today announced it has completed enrollment for a 510(k) study of an implantable drainage device designed to lower eye pressure in glaucoma patients. The study enrolled 110 adult patients with primary open-angle glaucoma who failed previous medical and surgical treatment. Results from the study will support a future FDA marketing submission. The device, dubbed Preserflo MicroShunt, is currently approved and commercially available in Canada and Australia. Shares in Glaukos were down 1.3% to $151.63 apiece and an $8.9 billion market cap (NYSE: GKOS). Want more from the best local business newspaper in the country? Sign-up for its FREE Daily eNews update to get the latest Orange County news delivered right to your inbox! One-Year for Only $99 * Weekly in-depth coverage in print and digital formats * Special Features: OC's Wealthiest, Top Priced Home Sales, Giving Guide, OC500, Charity Event Guide, Best Places to Work, Indispensables, Largest Charitable Gifts * The annual Book of Lists: Orange County's top companies across every industry