Bausch + Lomb reported Q4 FY2025 revenue of USD 1.41 billion (+10%) and FY2025 revenue of USD 5.10 billion (+6%). Q4 segment revenue was USD 778 million in Vision Care (+8%), USD 249 million in Surgical (+8%) and USD 378 million in Pharmaceuticals (+16%). FY2025 segment revenue was USD 2.92 billion in Vision Care (+7%), USD 894 million in Surgical (+6%) and USD 1.28 billion in Pharmaceuticals (+6%). Q4 operating income was USD 112 million and net loss attributable to shareholders was USD 58 million; adjusted net income attributable to shareholders was USD 115 million and adjusted EPS was USD 0.32. For FY2025, operating income was USD 113 million and net loss attributable to shareholders was USD 360 million; adjusted net income attributable to shareholders was USD 152 million and adjusted EPS was USD 0.43. Q4 adjusted EBITDA was USD 326 million and FY adjusted EBITDA was USD 858 million. FY2025 cash flow from operations was USD 283 million, and cash, cash equivalents and restricted cash totaled USD 397 million at Dec. 31, 2025. Business highlights included MIEBO sales of USD 112 million in Q4 and total dry eye portfolio revenue of USD 1.10 billion in FY2025, continued Vision Care growth driven by contact lenses and consumer brands including LUMIFY and OTC dry eye products, and 20% Q4 reported revenue growth in premium IOLs with the enVista platform returning to 1Q25 levels ahead of schedule. The company said trial recruitment for BL1107 (glaucoma), enVista Beyond, a dual-action therapeutic for dry eye disease and BL1332 (ocular surface pain) remains on schedule. For FY2026, Bausch + Lomb guided revenue of USD 5.38 billion to USD 5.48 billion and adjusted EBITDA excluding acquired IPR&D of USD 1.00 billion to USD 1.05 billion.

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