--  Revenue of $1.394 Billion 
 
   --  Revenue Grew 9% as Reported and 8% on a Constant Currency1 Basis 
      Compared to the Second Quarter of 2025 
 
   --  GAAP Net Loss Attributable to Bausch + Lomb Corporation of $14 Million 
 
 
   --  Adjusted EBITDA (non-GAAP)1 of $241 Million; Adjusted EBITDA Excluding 
      Acquired IPR&D (non-GAAP) 1 of $246 Million 
 
   --  Raising Full-Year 2026 Revenue and Adjusted EBITDA Excluding Acquired 
      IPR&D (non-GAAP)1 Guidance 
VAUGHAN, Ontario--(BUSINESS WIRE)--July 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 second-quarter 2026 financial results.

"Broad-based revenue growth, leverage in the P&L, margin expansion and conversion to cash flow. These have been themes since we unveiled our three-year plan for growth at Investor Day last November, and in the second quarter progress continued at an accelerated pace," said Brent Saunders, chairman and CEO, Bausch + Lomb.

Select Company Highlights

   --  Broad-based growth across all segments, with double digit revenue 
      growth from Surgical and Pharmaceuticals 
 
   --  175% reported revenue growth in premium intraocular lenses (IOLs), with 
      premium portfolio now accounting for 13% of total Surgical revenue 
      compared to 6% in 2025 
 
   --  MIEBO$(R)$ and XIIDRA(R) delivered 27% combined revenue growth in the 
      first half of 2026 versus the first half of 2025 
 
   --  Balanced global contact lens performance powered by three franchises, 
      with strong revenue growth from the daily SiHy portfolio, Biotrue(R) 
      ONEday and ULTRA(R) monthly 
 
   --  Launch momentum continues, with Blink(R) Triple Care Preservative Free 
      contributing to 12% reported revenue growth for the Blink franchise; 
      recent pipeline milestones include topline results from a pivotal 
      clinical study evaluating the enVista Beyond$(TM)$ investigational IOL 

Second-Quarter 2026 Revenue Performance

Total reported revenue was $1.394 billion for the second quarter of 2026, as compared to $1.278 billion in the second quarter of 2025, an increase of $116 million, or 9%. Excluding the favorable impact of foreign exchange of $12 million, revenue increased by approximately 8% on a constant currency(1) basis compared to the second quarter of 2025.

Revenue by segment was as follows:

Second-Quarter 2026

 
                                                        Change at 
                                                        Constant 
                    Three Months   Reported  Reported  Currency(1) 
(in millions)      Ended June 30    Change    Change   (non-GAAP) 
                    2026    2025 
Total Bausch + 
 Lomb Revenue      $1,394  $1,278      $116        9%           8% 
 
Vision Care          $784    $753       $31        4%           4% 
Surgical             $256    $216       $40       19%          16% 
Pharmaceuticals      $354    $309       $45       15%          14% 
-----------------  ------  ------  --------  --------  ----------- 
 

Vision Care Segment

Vision Care segment revenue was $784 million for the second quarter of 2026, as compared to $753 million for the second quarter of 2025, an increase of $31 million, or 4%. Excluding the favorable impact of foreign exchange of $4 million, segment revenue increased on a constant currency(1) basis by approximately 4% compared to the second quarter of 2025. Performance was driven by growth in daily SiHy, Biotrue and ULTRA contact lenses, as well as sales from over-the-counter dry eye products.

Surgical Segment

Surgical segment revenue was $256 million for the second quarter of 2026, as compared to $216 million for the second quarter of 2025, an increase of $40 million, or 19%. Excluding the favorable impact of foreign exchange of $6 million, segment revenue increased on a constant currency(1) basis by approximately 16% compared to the second quarter of 2025. Performance was driven by growth in the premium IOL portfolio.

Pharmaceuticals Segment

Pharmaceuticals segment revenue was $354 million for the second quarter of 2026, as compared to $309 million for the second quarter of 2025, an increase of $45 million, or 15%. Excluding the favorable impact of foreign exchange of $2 million, segment revenue increased on a constant currency(1) basis by approximately 14% compared to the second quarter of 2025. Performance was driven by growth in branded pharmaceuticals -- specifically MIEBO and XIIDRA -- and increased sales in international pharmaceuticals.

Operating Results

Operating income was $83 million for the second quarter of 2026, as compared to an operating loss of $11 million for the second quarter of 2025, a favorable change of $94 million. The change was driven by revenue growth noted above and operating efficiencies.

Net Loss

Net loss attributable to Bausch + Lomb Corporation for the second quarter of 2026 was $14 million, as compared to $62 million for the second quarter of 2025, a favorable change of $48 million. The change was primarily due to operating results noted above and the impact of financing fees from the June 2025 debt refinancing transaction, partially offset by a decrease in the benefit from income taxes.

Adjusted net income attributable to Bausch + Lomb Corporation (non-GAAP)(1) for the second quarter of 2026 was $55 million, as compared to adjusted net income attributable to Bausch + Lomb Corporation (non-GAAP)(1) of $25 million for the second quarter of 2025, an increase of $30 million.

Cash Flow from Operations

Cash flow from operations for the second quarter of 2026 was $153 million, as compared to cash flow from operations of $35 million for the second quarter of 2025, a favorable change of $118 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 second quarter of 2026 was ($0.04), as compared to ($0.18) for the second quarter of 2025. Adjusted EPS attributable to Bausch + Lomb Corporation (non-GAAP)(1) for the second quarter of 2026 was $0.15, as compared to $0.07, for the second quarter of 2025.

Adjusted EBITDA (non-GAAP)(1) ; Adjusted EBITDA Excluding Acquired IPR&D (non-GAAP)(1) Adjusted EBITDA (non-GAAP)(1) was $241 million for the second quarter of 2026, as compared to $191 million for the second quarter of 2025, an increase of $50 million. Adjusted EBITDA excluding Acquired IPR&D (non-GAAP)(1) was $246 million for the second quarter of 2026, as compared to $192 million for the second quarter of 2025, an increase of $54 million. The change was primarily due to revenue growth noted above and operating efficiencies.

2026 Financial Outlook(2) Bausch + Lomb provided updated guidance for the full year of 2026 as follows:

 
                                 As of April 29, 2026   As of July 29, 2026(3) 
 
                                 $5.420B -- $5.520B     $5.440B -- $5.540B 
                                  5.3 -- 7.2% constant   5.8 -- 7.7% constant 
Full-Year Revenue                 currency growth(1)     currency growth(1) 
 
Full-Year Adjusted EBITDA 
Excluding Acquired IPR&D 
(non-GAAP)(1)                     $1.010B -- $1.060B     $1.025B -- $1.075B 
 
Full-Year Revenue Foreign 
 Exchange Tailwinds              $50M                   $45M 
 
Full-Year Adj. EBITDA Excluding  Nominal                Nominal 
 Acquired IPR&D (non-GAAP)(1) 
 Foreign Exchange Tailwinds 
-------------------------------  ---------------------  ---------------------- 
 

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 $378 
      million at June 30, 2026 
 
   --  Basic weighted average shares outstanding for the second quarter of 
      2026 were 357.1 million, and diluted weighted average shares outstanding 
      for the second quarter of 2026 were 360.2 million4 

Pipeline Update

As part of today's earnings announcement, Bausch + Lomb is reporting topline results from a pivotal clinical study evaluating the enVista Beyond investigational IOL, which was designed to provide cataract patients with an expanded range of functional vision following cataract surgery.

The multicenter study evaluated visual performance and safety outcomes in patients undergoing cataract surgery. The study met several of its co-primary effectiveness endpoints, demonstrating improved and statistically superior intermediate vision and a greater depth of focus compared with a monofocal control lens, while maintaining distance visual acuity comparable to the control. The overall dataset demonstrated clinically meaningful improvements in functional vision and validated key attributes of the lens' optical profile despite narrowly missing predefined performance targets related to depth of focus and intermediate visual performance.