Bausch + Lomb Posts 7% Q4 Revenue Growth, Guides $5.4B 2026 Revenue
Bausch + Lomb’s Q4 revenue reached $1.405 billion, up 7%, with adjusted EBITDA of $330 million (23.5% margin), and it guides 2026 revenue of $5.375–5.475 billion and $1.0–1.05 billion EBITDA. The global scar treatment market will expand from $26.6 billion in 2025 to $56.3 billion in 2033 at 9.91% CAGR.
1. Q4 Financial Performance
Bausch + Lomb recorded Q4 revenue of $1.405 billion, up 7% on a constant-currency basis, with adjusted EBITDA rising 27% to $330 million and a margin of 23.5%, the highest since its IPO. Key contributors included a 3% gain in surgical revenue to $249 million (6% excluding the enVista recall), 20% growth in premium intraocular lenses, and an 8% increase in contact lens sales.
2. 2026 Guidance and Margin Drivers
For 2026, the company forecasts revenue of $5.375–5.475 billion (5–7% constant-currency growth) and adjusted EBITDA of $1.0–1.05 billion, implying roughly 19% EBITDA margin. Management expects gross margin near 62%, R&D spending of 7.5–8% of revenue, interest expense around $365 million, an adjusted tax rate of 19%, and CapEx of about $285 million, driven by gross margin improvements and SG&A efficiencies.
3. Scar Treatment Market Outlook
The global scar treatment market is projected to expand from $26.6 billion in 2025 to $56.3 billion by 2033 at a 9.91% CAGR, reflecting growing demand for advanced cosmetic and reconstructive procedures and technological advancements in minimally invasive treatments.