Glaukos Corp. (GKOS)
NYSEHealth CareMedical - DevicesSnapshot 2026-09-04
$177.47-1.60%
Close 2026-09-04 · 1-day change
NYSEHealth CareMedical - DevicesSnapshot 2026-09-04
Intact: The reason to own it still holds.
Glaukos is growing revenue fast, with 41% growth last quarter. Management raised 2026 revenue guidance to about $627 million. Gross profit improved sharply to $117 million, showing better cost control. Analysts expect revenue to grow 28% next year.
The company is still loss-making and cash flow turned negative recently. Profitability remains weak with EPS expected negative in 2026. If costs rise or sales slow, the turnaround could stall.
The stock trades about 27% above our fair value near $119. The market expects 28% revenue growth, which aligns with consensus. Our fair value is below the Street median, reflecting caution on profitability and cash flow.
Breaks if: Cash flow remains negative through FY26
Breaks if: Gross profit falls below $100 million in Q1 FY26
This is not a price target or investment advice.
A long-form read on the 1–3 year hold thesis. It updates when the weekly evidence changes.
This investment represents a turnaround story in the healthcare sector. The company is focused on increasing revenue and advancing its product pipeline, but it currently operates at a loss.
The market seems to have priced in a low expectations gap, indicating that investors are not overly optimistic about significant near-term improvements. GKOS trades at a premium compared to its peers, reflecting some confidence in its future potential despite current losses.
Management is on track to increase revenue guidance and improve gross profit margins, which could support a positive trajectory. However, the company has faced recent earnings surprises, and its quality metrics have declined, suggesting some volatility in performance.
The long-term thesis hinges on management's ability to deliver on revenue growth and advance its product pipeline. Additionally, broader sector performance, particularly from major healthcare companies, could influence GKOS's momentum.
The most important moves since the prior daily snapshot.
Yes, our read has strengthened. The latest earnings beat supports this improved outlook. There are no new threats identified that could weaken the thesis.
as of 2026-09-04
Review the evidence to watch, what would become a concern, and what would make it less concerning.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
Focus on improving gross profit through operational efficiencies and cost management.
Breaks if: Revenue falls below $600 million in FY26
Raise full-year 2026 net sales guidance reflecting strong growth momentum driven by key products iDose TR and Epioxa.
Stated as a priority in 3 of last 3 quarters. Revenue grew from $143.1 million in 2025-Q4 to $150.6 million in 2026-Q1 (+5.2%). Management raised full-year 2026 revenue guidance twice, from $600-$620 million to $620-$635 million in 2026-Q1, then to $680-$700 million in 2026-Q2. The trajectory matches management's stated growth focus and shows delivering momentum.
“Raised 2026 net sales guidance to $680 - $700 million, up from previous guidance.”
“Raised 2026 net sales guidance to $620 million to $635 million, up from previous guidance.”
“Reaffirmed 2026 net sales guidance of $600 million to $620 million.”
Overall, GKOS has a stable management team and is making progress on key priorities, but it faces challenges as a loss-making entity. Not investment advice.