Q2 2026 Glaukos Corp Earnings Call Transcript
Key Points
- Record second quarter consolidated net sales of $185.6 million, up 50% year-over-year, driven by strong performance across all franchises.
- iDose TR generated approximately $74 million in sales, with strong physician adoption and a growing body of clinical evidence.
- Epioxa launch is progressing well, with access pathways established for over 125 million covered commercial lives and a site-of-care network reaching 85% of the US population.
- Gross margins improved to approximately 85%, driven by favorable product mix from iDose TR and Epioxa.
- Full-year 2026 net sales guidance raised to $680-$700 million, reflecting confidence in sustained growth momentum.
- Potential volatility in Q3 2026 corneal health revenue due to the transition from Photrexa to Epioxa's permanent J-code.
- Proposed local coverage determinations (LCDs) for iDose TR could impose restrictive criteria, potentially limiting patient access and physician flexibility.
- International glaucoma franchise faces competitive trialing headwinds and reimbursement challenges in Germany and Switzerland.
- Foreign currency tailwinds are expected to abate, creating a relative headwind for international revenue in the second half of 2026.
- Epioxa's gross-to-net pricing is expected to be around $60,000, impacted by Medicaid and 340B discounts, which may pressure net revenue.
Hello, and welcome to the Glaukos Corporation's second quarter 2026 financial results conference call. Copies of the company's press release and quarterly summary document, both issued after the market close today, are available at www.glaukos.com. (Operator Instructions) Again, this call is being recorded, and an archived replay will be available online in the investor relations section at www.glaukos.com. I will now turn the call over to Chris Lewis, Vice President of Investor Relations and Corporate Affairs.
Thank you and good afternoon. Joining me today are Glaukos Chairman and CEO, Thomas Burns; President and COO, Joseph Gilliam; and CFO, Alex Thurman. Similar to prior quarters, the company has posted a document on its investor relations website under the financials and filings quarterly results section titled Quarterly Summary. This document is designed to be read by investors
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