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Glaukos (GKOS) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Oct 28, 2026 · Glaukos (GKOS) Q3 2026 earnings results →
Q3 2026 Revenue up 58% year over year to $211M · 1¢ of every $1 of revenue kept as net profit · operating margin 0.4%
Glaukos made $211M in Q3 2026 (+58% Y/Y): Glaucoma $152M, Corneal Health $59.0M. Operating margin 0.4%, net earnings $2.0M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 28, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $211.0M in Q3 2026, up 58% year over year and up 14% from the previous quarter. Glaucoma was the largest line at 72% of revenue. Glaucoma added $41.7M year over year (up 38%), 54% of the total change.
Gross margin was 85.2%, up 6.8 points from Q3 2025. Operating profit was $828K, a 0.4% margin (up 12.6 points year over year). Operating expenses grew 48% against revenue growth of 58%. The fastest-growing cost line was General & admin (+77%). Net earnings were $2.0M. The effective tax rate was 13.1%. Non-operating items added $1.5M, 64% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $38.6M, 1911% of net earnings. Non-cash charges added back $9.0M of depreciation and amortization and $17.8M of share-based compensation. Working capital and other items added $9.8M. Capital expenditures of $2.1M left free cash flow of $36.5M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Oct 28, 2026 | $211M | +58% | 0.4% | $2.0M | $38.6M |
| Q2 2026 | 10-Q | Jul 29, 2026 | $186M | +50% | -9.3% | −$18.4M | $14.8M |
| Q1 2026 | 10-Q | Apr 30, 2026 | $151M | +41% | -13.2% | −$19.8M | −$12.5M |
| Q4 2025 | 10-K | Feb 23, 2026 | $143M | +36% | -97.7% | −$134M | $6.8M |
| Q3 2025 | 10-Q | Oct 31, 2025 | $134M | +38% | -12.3% | −$16.2M | −$10.1M |
| Q2 2025 | 10-Q | Aug 4, 2025 | $124M | +30% | -18.3% | −$19.7M | $7.0M |
| Q1 2025 | 10-Q | May 1, 2025 | $107M | +25% | -19.4% | −$18.1M | −$18.5M |
Charts
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📈Investments: gains and what it boughtinteractive
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About Glaukos
Glaukos is an ophthalmic pharmaceutical and medical technology company focused on developing novel, dropless therapies and commercializing associated products for the treatment of glaucoma, corneal disorders, and retinal disease. We first developed Micro-Invasive Glaucoma Surgery (MIGS) as an alternative to the traditional glaucoma treatment paradigm, launching our first MIGS device commercially in 2012. In 2024, we commenced commercialization activities for iDose ® TR , a first-of-its-kind, long-duration, intracameral procedural pharmaceutical implant designed to continuously deliver glaucoma drug therapy inside the eye for extended periods of time. We also offer commercially a proprietary bio-activated pharmaceutical therapy for the treatment of a rare corneal disorder, keratoconus, that was approved by the United States (U.S.) Food and Drug Administration (FDA) in 2016.
In its own words, from its 10-K, filed Feb 25, 2025.
Glaukos against its Surgical & Medical Instruments & Apparatus peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +58% against the peers' median +5%. Operating margin: 0.4% against the peers' median 13.3%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| GKOS Glaukos | Q3 2026 | $211M | +58% | 0.4% |
| MDLN Medline | Q3 2026 | $7.9B | +10% | 6.4% |
| MMM 3M | Q3 2026 | $6.6B | +1% | 23.7% |
| SYK Stryker | Q3 2026 | $6.5B | +8% | 15.9% |
| BSX Boston Scientific | Q3 2026 | $5.1B | +1% | 16.1% |
| BDX Becton Dickinson | Q3 FY26 | $5.0B | +5% | 13.3% |
| BAX Baxter International | Q3 2026 | $3.0B | +5% | 7.6% |
| SOLV Solventum | Q3 2026 | $1.9B | -7% | 3.5% |
| RMD ResMed | Q1 FY27 | $1.4B | +6% | 32.0% |
Source: Glaukos 10-Q on SEC EDGAR · CIK 1192448 · Surgical & Medical Instruments & Apparatus
Guidance and outlook
13F: who owns GKOS and who is buying
More on GKOS
- How Glaukos makes money: revenue by segment
- Glaukos next earnings date and what analysts expect
- Glaukos stock forecast, price target and fair value
- Who owns Glaukos stock: holders, funds and Congress trades
- Glaukos guidance and outlook
- Is Glaukos a takeover target? LBO and rumors
- Glaukos recalls, complaints and regulation
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results