-- Revenue of $1.244 Billion
-- Revenue Grew 9% as Reported and 6% on a Constant Currency1 Basis
Compared to the First Quarter of 2025
-- GAAP Net Loss Attributable to Bausch + Lomb Corporation of $71 Million
-- Adjusted EBITDA (non-GAAP)1 of $189 Million; Adjusted EBITDA Excluding
Acquired IPR&D (non-GAAP) 1 of $200 Million
-- Raising Full-Year 2026 Revenue and Adjusted EBITDA Excluding Acquired
IPR&D (non-GAAP)1 Guidance
VAUGHAN, Ontario--(BUSINESS WIRE)--April 29, 2026--
Bausch + Lomb Corporation (NYSE/TSX: BLCO), a leading global eye health company dedicated to helping people see better to live better, today announced its first-quarter 2026 financial results.
"We're doing exactly what we said we would: driving sustainable growth and margin expansion, improving how we sell and operate and continuing to invest in a pipeline that will carry us forward," said Brent Saunders, chairman and CEO, Bausch + Lomb.
Select Company Highlights
-- Growth across key brands, including the dry eye portfolio, premium
intraocular lenses and daily SiHy contact lenses
-- Double-digit revenue growth in Pharmaceuticals led by MIEBO$(R)$ (+33%)
and XIIDRA(R) (+30%)
-- PreserVision AREDS3$(TM)$ and Blink Triple Care(R) Preservative Free U.S.
launches underway, with nationwide distribution continuing to build
-- Advanced R&D milestones with LUMIFY NXT(TM) NDA filed and seeLYRA(TM)
CE submission completed
-- Broad AI adoption helping drive operational efficiencies across the
business
First-Quarter 2026 Revenue Performance
Total reported revenue was $1.244 billion for the first quarter of 2026, as compared to $1.137 billion in the first quarter of 2025, an increase of $107 million, or 9%. Excluding the favorable impact of foreign exchange of $42 million, revenue increased by approximately 6% on a constant currency(1) basis compared to the first quarter of 2025.
Revenue by segment was as follows:
First-Quarter 2026
Change at
Three Months Constant
Ended March Reported Reported Currency(1)
(in millions) 31 Change Change (non-GAAP)(1)
2026 2025
Total Bausch +
Lomb Revenue $1,244 $1,137 $107 9% 6%
Vision Care $711 $656 $55 8% 5%
Surgical $228 $214 $14 7% 1%
Pharmaceuticals $305 $267 $38 14% 12%
----------------- ------ ------ -------- -------- -------------
Vision Care Segment
Vision Care segment revenue was $711 million for the first quarter of 2026, as compared to $656 million for the first quarter of 2025, an increase of $55 million, or 8%. Excluding the favorable impact of foreign exchange of $25 million, segment revenue increased on a constant currency(1) basis by approximately 5% compared to the first quarter of 2025. Performance was primarily driven by sales from over-the-counter dry eye products and LUMIFY(R) in the consumer business and growth of SiHy Daily lenses in the contact lens business.
Surgical Segment
Surgical segment revenue was $228 million for the first quarter of 2026, as compared to $214 million for the first quarter of 2025, an increase of $14 million, or 7%. Excluding the favorable impact of foreign exchange of $12 million, segment revenue increased on a constant currency(1) basis by approximately 1% compared to the first quarter of 2025. Performance was primarily driven by growth in premium IOLs and consumables.
Pharmaceuticals Segment
Pharmaceuticals segment revenue was $305 million for the first quarter of 2026, as compared to $267 million for the first quarter of 2025, an increase of $38 million, or 14%. Excluding the favorable impact of foreign exchange of $5 million, segment revenue increased on a constant currency(1) basis by approximately 12% compared to the first quarter of 2025. Performance was primarily driven by increased sales of MIEBO and XIIDRA and growth in International Pharmaceuticals.
Operating Results
Operating income was $33 million for the first quarter of 2026, as compared to an operating loss of $83 million for the first quarter of 2025, a favorable change of $116 million. The change was driven by the revenue performance noted above and operating efficiencies.
Net Loss
Net loss attributable to Bausch + Lomb Corporation for the first quarter of 2026 was $71 million, as compared to $212 million for the first quarter of 2025, a favorable change of $141 million. The change was primarily due to the increase in operating results noted above as well as a favorable change in the provision for income taxes.
Adjusted net income attributable to Bausch + Lomb Corporation (non-GAAP)(1) for the first quarter of 2026 was $19 million, as compared to adjusted net loss attributable to Bausch + Lomb Corporation (non-GAAP)(1) of $54 million for the first quarter of 2025, a favorable change of $73 million.
Cash Flow from Operations
Cash flow from operations for the first quarter of 2026 was $32 million, as compared to cash flow used in operations of $25 million for the first quarter of 2025, a favorable change of $57 million. Cash flow from operations was positively impacted by operating results noted above.
Earnings Per Share
GAAP Earnings Per Share ("EPS") Basic and Diluted attributable to Bausch + Lomb Corporation for the first quarter of 2026 was ($0.20), as compared to ($0.60) for the first quarter of 2025. Adjusted EPS attributable to Bausch + Lomb Corporation (non-GAAP)(1) for the first quarter of 2026 was $0.05, as compared to ($0.15) for the first quarter of 2025.
Adjusted EBITDA (non-GAAP)(1) ; Adjusted EBITDA Excluding Acquired IPR&D (non-GAAP)(1) Adjusted EBITDA (non-GAAP)(1) was $189 million for the first quarter of 2026, as compared to $98 million for the first quarter of 2025, an increase of $91 million. Adjusted EBITDA excluding Acquired IPR&D (non-GAAP)(1) was $200 million for the first quarter of 2026, as compared to $126 million for the first quarter of 2025, an increase of $74 million. The change was primarily due to the revenue performance noted above and operating efficiencies.
2026 Financial Outlook(2) Bausch + Lomb provided updated guidance for the full year of 2026 as follows:
As of Feb. 18, 2026 As of April 29, 2026(3)
Full-Year Revenue $5.375B -- $5.475B $5.420B -- $5.520B
5 -- 7% constant 5.3 -- 7.2% constant
currency growth(1) currency growth(1)
Full-Year Adjusted EBITDA
Excluding Acquired IPR&D
(non-GAAP)(1) $1.000B -- $1.050B $1.010B -- $1.060B
Full-Year Revenue Foreign
Exchange
Tailwinds $30M $50M
Full-Year Adj. EBITDA Excluding
Acquired
IPR&D (non-GAAP)(1) Foreign
Exchange
Tailwinds Nominal Nominal
-------------------------------- ------------------- -----------------------
Other than with respect to GAAP revenue, the company only provides guidance on a non-GAAP basis. The company does not provide a reconciliation of forward-looking Adjusted EBITDA excluding Acquired IPR&D (non-GAAP)(1) to GAAP net income (loss) attributable to Bausch + Lomb Corporation or of forward-looking constant currency revenue growth(1) to reported revenue growth, due to the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliations. These amounts may be material and, therefore, could result in the projected GAAP measure or ratio being materially different or less than the projected non-GAAP measure or ratio. These statements represent forward-looking information and may represent a financial outlook, and actual results may vary. Please see the risks and assumptions referred to in the Forward-looking Statements section of this news release.
Balance Sheet Highlights
-- Bausch + Lomb's cash, cash equivalents and restricted cash were $279
million at March 31, 2026
-- Basic weighted average shares outstanding for the first quarter of 2026
were 355.2 million, and diluted weighted average shares outstanding for
the first quarter of 2026 were 360.3 million4
Conference Call Details
Date: Wednesday, April 29, 2026
Time: 8 a.m. ET
https://www.webcaster5.com/Webcast/Page/
Webcast: 2883/53393
+1 (888) 506-0062 (North America)
Participant Event Dial-in: +1 (973) 528-0011 (International)
Participant Access Code: 666753
Replay Dial-in: +1 (877) 481-4010 (North America)
+1 (919) 882-2331 (International)
Replay Passcode: 53393 (replay available until May 13,
2026)
About Bausch + Lomb
Our mission is simple -- we help people see better to live better, all over the world. For nearly two centuries we've evolved with the changing needs of patients and customers, and our commitment to innovation and improving the standard of care in eye health has never been stronger. From contact lenses to prescription products, over-the-counter options, surgical devices and more, we're turning bold ideas into better outcomes through passion, perseverance and purpose. Learn more at www.bausch.com and connect with us on Facebook, Instagram, LinkedIn, X and YouTube.
Forward-looking Statements
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