Glaukos Stock Rockets 20% as iDose and Epioxa Fuel Record Sales, Company Targets $1 Billion Revenue in 2027
Glaukos stock surged 20% after reporting record Q3 sales of $211M, up 58% YoY. The company raised its 2026 revenue forecast to $775M-$785M and set a preliminary 2027 target of $1B. Growth was driven by iDose TR and Epioxa, with U.S. glaucoma sales up 47%. Medicare coverage of iDose TR remains a risk.
How this was made
The 30-second read
Why it matters
The company’s record Q3 print and sharply raised 2026 forecast, plus preliminary 2027 revenue guidance, create a near-term repricing catalyst. However, Medicare coverage for iDose TR is the central downside risk that could force future guidance resets.
Market read
Traders can reassess near-term valuation and positioning based on the raised 2026 guidance and the $1B 2027 revenue target, while monitoring Medicare coverage developments for iDose TR.
What to watch
Epioxa’s growth is supported by a new Medicare billing code, but iDose TR coverage updates are still pending and contractors have up to a year from draft proposals to act.
Background
Glaukos sells glaucoma and corneal disease therapies, with iDose TR reimbursement under Medicare contractor local coverage determinations and Epioxa benefiting from a dedicated Medicare billing code.
Market effects
Positive read-through for ophthalmology medtech names tied to glaucoma and corneal disease therapies, especially those with reimbursement-sensitive products.
Limited direct regional spillover beyond US healthcare/biotech sentiment.
Moderate, as Medicare coverage dynamics can influence US-focused medtech valuation multiples.
Counterpoint
The $1B 2027 revenue path is highly dependent on Medicare coverage outcomes for iDose TR, so the market may be over-discounting reimbursement certainty.
Key entities
- companyGlaukos
Eye-care company reporting record Q3 sales, raising 2026 guidance, and targeting $1B revenue in 2027.
- productiDose TR
Glaucoma implant expected to drive revenue growth, with Medicare coverage as the key risk.
- productEpioxa
Keratoconus treatment with first full quarter after receiving a dedicated Medicare billing code.
- executiveTom Burns
Chairman and CEO quoted on record sales and raised guidance.
- executiveJoe Gilliam
President and COO quoted on preliminary 2027 revenue modeling and Epioxa ASP assumptions.
