Bausch & Lomb Corp. (BLCO)

Key figures

The last twelve months reported, with the latest price and balance sheet.

Revenue, last twelve months

$5.4B

Revenue growth

8.9%

Net income, last twelve months

-$111.0M

Earnings per share

-$0.31

Operating margin

7.1%

Net margin

-2.0%

Free cash flow

$252.0M

Return on equity

-1.7%

Market value

$7.3B

Cash

$513.0M

Debt

$5.1B

Debt to equity

0.79

Shares outstanding

357.4M

Financial statements

Revenue, profit and cash flow by fiscal year, each year linked to its annual report.

By quarter

What the company said with its results

From the third quarter of 2026 results, filed 28 October 2026.

• Revenue rose 7% to $1.375 billion. Revenue was $1.375 billion, up $94 million from $1.281 billion, or about 8% at constant currency.
• Operating income rose $60 million. Operating income was $155 million, compared with $95 million a year earlier.
• Net income attributable turned positive. GAAP net income attributable to Bausch + Lomb was $32 million, against a $28 million loss; GAAP diluted EPS was $0.09, against ($0.08).
• Adjusted EBITDA reached $325 million. Adjusted EBITDA was $325 million, up $82 million from $243 million; acquired IPR&D was nil in both periods.
• Adjusted EPS rose to $0.34. Adjusted EPS was $0.34, up from $0.18; adjusted net income attributable was $123 million, against $66 million.
• Nine-month revenue rose 9%. For the nine months, revenue was $4.013 billion, up 9% reported and 7% at constant currency, compared with $3.696 billion.
• Pharmaceuticals grew 11%. Pharmaceuticals revenue was $367 million, up $37 million, with growth from MIEBO and international pharmaceutical sales.
• Vision Care grew 5%. Vision Care revenue was $774 million, up 5% reported and about 6% at constant currency, after a $5 million unfavorable currency effect.
• Surgical grew 9% on premium IOLs. Surgical revenue was $234 million, up $19 million or 9%, with the release crediting growth in the premium IOL portfolio.
• MIEBO revenue up 42%. MIEBO revenue was $119 million, up 42%; management described it as continued momentum in an expanding category.
• LUMIFY and daily SiHy grew. LUMIFY revenue grew 35%; daily SiHy portfolio revenue grew 24%, which management described as durable growth across the broader contact lens business.
• Efficiencies cited alongside revenue growth. Management attributed the higher operating income and adjusted EBITDA mainly to revenue growth and operating efficiencies; the release does not quantify the efficiencies.
• Cost of goods sold fell. Cost of goods sold was $485 million against $509 million a year earlier, excluding amortization and impairments of intangible assets.
• SG&A rose, R&D eased. Selling, general and administrative expense was $556 million, up from $528 million; research and development was $91 million, down from $95 million.

Revenue by segment

As the company reports it in the segment note of its annual report.

By business, FY2025

By product, FY2025

By region, FY2025

Company events

The newest 8-K filings of 57 held.

Every filing

The newest filings with the SEC of 118 held.

Insider trades

Form 4 trades by officers, directors and 10% owners, last 12 months.

Planned insider sales

Form 144 notices, filed when the sell order goes to the broker.

Short interest

Shares sold short and not yet bought back, on each FINRA settlement date.

Funds that hold it

From each fund's latest Form 13F.

113 funds held it at 30 Jun 2026: 49 added and 30 trimmed in the quarter. The largest:

Peers

Companies in the same industry.

• Cooper Companies, Inc. (COO): revenue $4.2B, market value $11.3B
• Warby Parker Inc. (WRBY): revenue $911.6M, market value $2.7B
• Staar Surgical Co. (STAA): revenue $339.6M, market value $1.2B
• National Vision Holdings, Inc. (EYE): revenue $2.0B, market value $1.2B

What the company does

Bausch + Lomb is an eye health company that develops, manufactures and markets contact lenses, intraocular lenses (IOLs), surgical systems, eye drops, vitamin and mineral supplements, lens care products and prescription eye medications. It was founded in 1853 and has approximately 400 products, approximately 13,000 employees and sales in approximately 100 countries. Its parent, Bausch Health Companies, directly or indirectly held 310,449,643 common shares, approximately 88% of the total, as of 11 February 2026. The shares trade on the New York Stock Exchange and the Toronto Stock Exchange under the symbol BLCO.

How the business is organised

The company reports three segments: Vision Care, Pharmaceuticals and Surgical. In 2025 they made up 57%, 25% and 18% of total revenues respectively. Most revenue comes from product sales in four areas: branded prescription eye medications, generic and branded generic prescription eye medications, over-the-counter vitamin and supplement products, and medical devices such as contact lenses, IOLs and surgical equipment.

Vision Care

This segment combines consumer eye care and contact lenses. In 2025, 65% of its revenue came from consumer eye care and 35% from contact lenses.

Consumer eye care covers lens care products, over-the-counter eye drops and eye vitamins. Brands include Biotrue and Renu solutions, Boston cleaning solution, Lumify redness relief drops, Blink and Artelac lubricating drops, and PreserVision and Ocuvite supplements. PreserVision products accounted for approximately 6% of total revenues in 2025.

The contact lens business sells daily disposable, planned replacement and frequent replacement soft lenses, along with multifocal, toric and rigid gas permeable products. Its lines include SiHy Daily, sold under the INFUSE, BAUSCH + LOMB ULTRA ONE DAY and AQUALOX ONE DAY names in over 60 countries, as well as Bausch + Lomb ULTRA, Biotrue ONEday, PureVision and SofLens.

Pharmaceuticals

The Pharmaceuticals segment sells proprietary and generic products for post-operative care and for eye conditions such as glaucoma, eye inflammation, ocular hypertension, dry eye and retinal diseases.

Surgical

The Surgical segment supplies equipment, consumables and technologies for cataract, corneal, vitreous and retinal surgery. In 2025, 24% of its revenue came from equipment, 24% from implantables and 52% from consumables.

IOLs include Akreos, enVista, Crystalens and Trulign. Storz Ophthalmic instruments and Synergetics instruments complete the range.

Who buys and how it sells

The company sells through direct sales forces and independent distributors, depending on the market and product. Its commercial team has approximately 4,200 employees, with approximately 1,050 in the United States and approximately 3,150 internationally, supported by a network of distribution partners.

McKesson Corporation and Cardinal Health each accounted for 10% of total revenues in 2025. Revenues from Russia, Ukraine and Belarus together were approximately 3% of the total.

The company lists competitors as specialty and large pharmaceutical companies, medical device companies, biotechnology companies, over-the-counter companies and generic manufacturers, plus smaller regional companies. It names quality, efficacy, market acceptance, price and marketing and promotional efforts as the principal methods of competition.

Where it makes things, and its people

The company makes most of its products at 25 manufacturing facilities in 11 countries, including the United States, Ireland, China, Germany, France and Italy. Facilities generally focus on one category: pharmaceuticals, contact lenses, solutions or surgical devices. Products representing approximately 37% of 2025 product sales are produced in whole or in part by third-party manufacturers. Some active ingredients and finished products come from a single source.

About 900 research and development personnel work in 13 facilities, on a pipeline of over 60 projects. Of the approximately 13,000 employees, approximately 7,000 work in production, 4,200 in sales and marketing, 900 in general and administrative roles and 900 in research and development. By location, approximately 4,900 are in the United States, 3,400 in Europe excluding Ireland, 2,200 in Asia-Pacific countries and 1,500 in Ireland. Smaller groups are in Latin America, Russia and Commonwealth of Independent States countries, Canada, the Middle East and Africa.

Products need approval or clearance from regulators such as the FDA, Health Canada and the European Medicines Agency, or a CE Marking for devices in the European Union.

*From Bausch + Lomb's annual report on Form 10-K for the year ended 31 December 2025. [The filing](https://www.sec.gov/Archives/edgar/data/1860742/000186074226000007/blco-20251231.htm)*

From the company's 10-K.