Glaukos Corp. (GKOS)

NYSEHealth CareMedical - DevicesSnapshot 2026-10-23

$178.88+1.24%

Close 2026-10-23 · 1-day change

Investment OutlookAs of Oct 24, 2026

What could strengthen or challenge Glaukos Corp.’s outlook?

The long-term thesis, the evidence coming in, and the environment around it. Thesis dated Jul 8, 2026.

Higher potential upsideImproving expectations

Next-FY EPS estimate change · 30 days

+3.4%

+10% or more+5%0%−5%−10% or less

0.51 → 0.52 EPS · FY ending Dec 31, 2027 · 9 analysts

Higher risk of downsideWeakening expectations

One observable signal. This measures changing earnings expectations, not the probability of a gain or loss.

How this is measured

Change in the same fiscal period’s mean EPS estimate from Sep 24, 2026 to Oct 24, 2026: (new ÷ prior − 1). Contributor count changed from 9 to 9; this is not the number of analysts revising. Source: FMP consensus snapshots. The ±10% axis is a display range.

Measure / period	Management expectations	Analyst expectations
FY 2026 · Q4
Revenue	—	187.47M
EPS	—	0.13
FY 2026 · Annual
Revenue	$680M–$700M	691.66M
EPS	—	-0.304
FY 2027 · Annual
Revenue	—	852.44M
EPS	—	0.523

What the Thesis Depends On

Three published thesis conditions, with dated milestones shown separately.

Key Factor	Why It Matters	Current Status	Break Condition	Latest Evidence
Achieve positive cash flow from operations by FY26 end	A supporting condition in Glaukos Corp.'s published investment case. The stated target is > 0.	Improving	Cash flow remains negative through FY26	Cash from operations: $14.823M FY2026-Q2; GAAP. Published target: > 0. Target period is not explicitly aligned with this observation. Source published Jul 29, 202614,823,000 USD · source valueSource reportLast status assessment Oct 24, 2026 Measurement source consolidated · GAAP FY2026-Q2 · Period ending Jun 30, 2026 Source: stock_quarterly_financials_fmp. Reference: 2026-Q2. Source status: unverified. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement. Management context Stated as a priority in 3 of last 3 quarters. Cash from operating activities improved from negative $12.5 million in 2026-Q1 to positive $14.8 million in 2026-Q2, showing progress toward positive cash flow. The trajectory is delivering improvement in cash flow from operations. Delivery assessment Oct 24, 2026
Gross profit improves to at least $117 million in Q1 2026	Gross profit improved sharply to $117 million, showing better cost control.	Improving	Gross profit falls below $100 million in Q1 FY26	Gross profit: $151.594M FY2026-Q2; GAAP. Published target: >= $117 million. Target period is not explicitly aligned with this observation. Source published Jul 29, 2026151,594,000 USD · source valueSource reportLast status assessment Oct 24, 2026 Measurement source consolidated · GAAP FY2026-Q2 · Period ending Jun 30, 2026 Source: company_financial_results. Reference: 347107f3-8d6f-49e7-9175-12d4239e3efd. Source status: eligible. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.
Revenue reaches at least $620 million in FY26	A primary condition in Glaukos Corp.'s published investment case. The stated target is >= $620 million.	Intact	Revenue falls below $600 million in FY26	Revenue: $185.61M FY2026-Q2; GAAP. Published target: >= $620 million. Target period is not explicitly aligned with this observation. Source published Jul 29, 2026185,610,000 USD · source valueSource reportLast status assessment Oct 24, 2026 Measurement source consolidated · GAAP FY2026-Q2 · Period ending Jun 30, 2026 Source: company_financial_results. Reference: 347107f3-8d6f-49e7-9175-12d4239e3efd. Source status: eligible. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement. Management context 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. Delivery assessment Oct 24, 2026

Stored thesis · Jul 8, 2026. Latest Evidence uses source-matched measurements where available, alongside the last thesis-monitor assessment. Source periods and assessment dates are shown separately. A new measurement does not automatically change the published status or verify an older target.

Incoming Evidence

Compare these dated observations with the operating requirements above

Expectations trend

Same fiscal period

FY2027 · fiscal year ending 2027-12-31 · fmp

FY2027 EPS$0.52

$0.42 → $0.52 · observed estimates

FY2027 revenue$0.85B

$0.79B → $0.85B · observed estimates

Exact estimates & source dates

One fiscal period and provider throughout. At least five contributors are required for each plotted metric; missing coverage stays a gap. Axes show the observed range. Counts measure coverage, not revisions.

FY2027 estimate observations · fmp
Snapshot	EPS	Revenue	EPS / revenue analysts
2026-07-24	$0.42	$787,280,359	8 / 11
2026-07-25	$0.42	$787,280,359	8 / 11
2026-07-26	$0.42	$787,324,110	12 / 13
2026-07-27	$0.42	$787,280,359	8 / 11
2026-07-28	$0.42	$787,281,382	9 / 11
2026-07-29	$0.42	$787,547,599	9 / 11
2026-07-30	$0.42	$787,587,270	13 / 14
2026-07-31	$0.49	$841,913,820	13 / 14
2026-08-01	$0.50	$841,914,461	9 / 11
2026-08-02	$0.50	$841,913,820	13 / 14
2026-08-03	$0.50	$841,913,820	13 / 14
2026-08-04	$0.50	$841,913,820	13 / 14
2026-08-05	$0.50	$841,913,820	13 / 14
2026-08-06	$0.50	$841,914,461	9 / 11
2026-08-07	$0.50	$841,914,461	9 / 11
2026-08-08	$0.50	$841,913,820	13 / 14
2026-08-09	$0.50	$841,913,820	13 / 14
2026-08-10	$0.50	$841,913,820	13 / 14
2026-08-12	$0.50	$841,914,461	9 / 11
2026-08-13	$0.50	$841,913,820	13 / 14
2026-08-14	$0.50	$841,914,461	9 / 11
2026-08-15	$0.50	$841,914,461	9 / 11
2026-08-16	$0.50	$841,914,461	9 / 11
2026-08-17	$0.50	$841,914,461	9 / 11
2026-08-18	$0.50	$841,914,461	9 / 11
2026-08-19	$0.50	$841,914,461	9 / 11
2026-08-20	$0.50	$844,581,170	9 / 11
2026-08-21	$0.50	$844,581,170	9 / 11
2026-08-22	$0.50	$844,580,820	9 / 11
2026-08-23	$0.50	$844,580,820	9 / 11
2026-08-24	$0.50	$844,580,820	9 / 11
2026-08-25	$0.50	$844,580,820	9 / 11
2026-08-26	$0.50	$844,580,820	9 / 11
2026-08-27	$0.50	$844,580,820	9 / 11
2026-08-28	$0.50	$844,580,820	9 / 11
2026-08-29	$0.50	$844,580,820	9 / 11
2026-08-30	$0.50	$844,580,820	9 / 11
2026-08-31	$0.50	$844,580,820	9 / 11
2026-09-01	$0.50	$844,580,820	9 / 11
2026-09-02	$0.50	$844,580,820	9 / 11
2026-09-03	$0.50	$844,580,820	9 / 11
2026-09-04	$0.50	$844,580,820	9 / 11
2026-09-05	$0.50	$844,584,134	9 / 11
2026-09-06	$0.50	$844,584,134	9 / 11
2026-09-07	$0.50	$844,584,134	9 / 11
2026-09-08	$0.50	$844,584,134	9 / 11
2026-09-09	$0.50	$844,584,134	9 / 11
2026-09-10	$0.50	$844,584,134	9 / 11
2026-09-11	$0.50	$844,584,134	9 / 11
2026-09-12	$0.50	$844,584,134	9 / 11
2026-09-13	$0.50	$844,584,134	9 / 11
2026-09-14	$0.50	$844,584,134	9 / 11
2026-09-15	$0.50	$844,584,134	9 / 11
2026-09-16	$0.50	$844,584,134	9 / 11
2026-09-17	$0.50	$844,584,134	9 / 11
2026-09-18	$0.50	$844,584,134	9 / 11
2026-09-19	$0.50	$844,584,134	9 / 11
2026-09-20	$0.50	$844,584,134	9 / 11
2026-09-21	$0.50	$844,584,134	9 / 11
2026-09-22	$0.51	$846,581,534	9 / 11
2026-09-23	$0.51	$846,581,534	9 / 11
2026-09-24	$0.51	$846,584,134	9 / 11
2026-09-25	$0.51	$846,584,134	9 / 11
2026-09-26	$0.51	$846,584,134	9 / 11
2026-09-27	$0.51	$846,584,134	9 / 11
2026-09-28	$0.51	$846,584,134	9 / 11
2026-09-29	$0.51	$846,587,463	9 / 11
2026-09-30	$0.51	$846,587,463	9 / 11
2026-10-01	$0.51	$846,573,177	9 / 11
2026-10-02	$0.52	$850,244,606	8 / 11
2026-10-03	$0.52	$850,244,606	8 / 11
2026-10-04	$0.52	$850,244,606	8 / 11
2026-10-05	$0.52	$850,244,606	8 / 11
2026-10-06	$0.52	$850,244,606	9 / 11
2026-10-07	$0.52	$850,244,956	9 / 11
2026-10-08	$0.52	$852,409,242	9 / 11
2026-10-09	$0.52	$852,402,099	9 / 11
2026-10-10	$0.52	$852,398,784	9 / 11
2026-10-11	$0.52	$852,398,784	9 / 11
2026-10-12	$0.52	$852,398,784	9 / 11
2026-10-13	$0.52	$852,400,213	9 / 11
2026-10-14	$0.52	$851,937,872	9 / 11
2026-10-15	$0.52	$852,433,434	9 / 11
2026-10-16	$0.52	$852,433,434	9 / 11
2026-10-17	$0.52	$852,433,434	9 / 11
2026-10-18	$0.52	$852,433,434	9 / 11
2026-10-19	$0.52	$852,433,434	9 / 11
2026-10-20	$0.52	$852,433,434	9 / 11
2026-10-21	$0.52	$852,441,963	9 / 11
2026-10-22	$0.52	$852,441,963	9 / 11
2026-10-23	$0.52	$852,441,963	9 / 11
2026-10-24	$0.52	$852,441,963	9 / 11

Revenue and EPS estimates track expectations. They are not delivered results or like-for-like proof of a required annual path.

Compare required revenue and earnings

Analyst view

Monthly observations

Buy / Strong BuyHoldSell / Strong Sell

Exact monthly counts

Monthly rating snapshots · fmp. Missing snapshots are not zero.
Date	Buy*	Hold
2026-05-01	13	0
2026-06-01	13	0
2026-07-01	14	1
2026-08-01	13	1
2026-09-01	13	1
2026-10-01	13	1

*Buy includes Strong Buy; Sell includes Strong Sell. Monthly counts describe the analyst mix, not the firms behind each recent action.

Latest: 13 Buy / Strong Buy · 1 Hold · 0 Sell / Strong Sell

0 upgrades0 downgrades1 maintains

Recent actions · Sep 25–Oct 24 · 1 recorded

Price-target changes

30 days

○ Previous · ● Latest · common dollar scale

Mizuho SecuritiesOct 13

$190.00New observation · no comparable prior

BTIGOct 12 · prior Aug 20

$202.00 → $205.00+1.5%

$0$112.75$225.50

1 raises · 0 cuts · 0 unchanged · 1 without a comparable prior

How this is measured

Sep 25, 2026–Oct 24, 2026. Each firm's latest positive target is paired only with its immediately prior positive target from the same provider, at most 180 days earlier. Unmatched observations have one dot; conflicting observations are not compared.

Outlook in Brief

The evidence, the remaining questions, and what comes next

What's improving

No recovery evidence is reported in the available driver assessments.

Still unresolved / key risks

Achieve positive cash flow from operations by FY26 endCash from operations: $14.823M
Gross profit improves to at least $117 million in Q1 2026Gross profit: $151.594M
Revenue reaches at least $620 million in FY26Revenue: $185.61M

Next proof point

Oct 28, 2026

Look for updated results and guidance against the published targets, plus direct evidence for unresolved drivers.

Review earnings

Bottom line

3 of 3 published conditions remain under pressure or need verification. The next results need to address those conditions.

The dated weekly assessment and its assumptions are available in Read detailed Outlook.

Historical risk context

Observed price history; separate from operating scenarios

Price sensitivity

1.4%Typical daily move · historical

Downside history

-28.4%Maximum drawdown · trailing year

Read detailed Outlook Company context, assumptions & risks

Glaukos Corp. outlook in detail

The weekly editorial context below is a separate assessment from the dated monitor evidence above. Recovery observations do not automatically change the published thesis. Unverified outside influences are hypotheses, not measured driver evidence.

Updated Oct 24, 2026

What kind of bet this is

This is a growth-oriented medical technology business with a sector backdrop described as favorable, not a proven profitable compounder. The long-term thesis is intact, supported by recent financial performance, while pipeline progress is mixed and earnings remain loss-making.

What's priced into Glaukos Corp.

GKOS trades at a notable premium to peers, and the valuation model points to optionality, meaning some value rests on future opportunities. Its expectations gap is slightly negative, but model confidence is low and the priced-in assessment is tagged as justified, with no fragility flags.

What the fundamentals likely do

Near term, management has raised full-year 2026 revenue guidance twice, and recent revenue and gross profit trends support its stated growth and margin priorities. Earnings results have been mixed, with two recent beats and an earlier miss, while the business remains loss-making; the next guidance update is a key risk.

What Glaukos Corp. hinges on

The multi-year view depends on continued revenue growth, better margins, and meaningful progress across iDose TR, iDose TRIO, and Epioxa, where disclosed financial milestones are limited. Near term, a guidance cut or further weakening in jobs data could weigh on the setup, while strong results and guidance from healthcare peers could support sector momentum.