Total Revenue

+6.4% (from $942.6M to $1,002.3M)

Revenue increased by 6.4% YoY driven by both CooperVision’s and CooperSurgical’s strong performance, reflecting solid product innovation, geographic expansion, and operational improvements compared to Q2 2024. " "

CooperVision Revenue

+5.3% (from $635.9M to $669.6M)

CooperVision revenue grew 5.3% YoY due to increased demand for premium daily silicone hydrogel lenses and a robust portfolio including innovations in myopia management, supporting sustained market growth seen in previous periods. " "

CooperSurgical Revenue

+8.5% (from $306.7M to $332.7M)

An 8.5% increase in CooperSurgical revenue reflects robust growth in office and surgical products, bolstered by strategic acquisitions and product mix enhancements, building on the strong double-digit growth trajectory observed in prior periods. " "

U.S. Revenue

+7.7% (from $479.0M to $515.2M)

U.S. revenue rose by 7.7% YoY driven by improved market penetration, strong product performance, and enhanced capacity in the region; the growth aligns with previous period trends noted for increased demand in the Americas. " "

Europe Revenue

+5.5% (from $276.7M to $291.9M)

Europe revenue increased by 5.5% YoY as a result of gains in key markets, improved product availability, and favorable currency influences, echoing earlier momentum built on a solid commercial strategy in the region. " "

Operating Income

+14% (from $161.7M to $184.8M)

Operating income improved by 14% YoY thanks to efficiency gains, a stronger product mix, and increased gross margins, along with lower financing costs; this follows from enhanced performance in both major segments, with CooperVision offsetting challenges in other areas. " "

Research & Development Expense

+16.9% (from $38.9M to $45.5M)

R&D spending increased by 16.9% YoY primarily as the company invests more heavily in product innovation and technology enhancements, supporting future growth initiatives relative to prior quarters. " "

Interest Expense

-16% (from $28.9M to $24.2M)

Interest expense declined by roughly 16% YoY due to lower prevailing interest rates and a reduction in average debt balances, thereby decreasing the overall financing costs compared to the previous period. " "

Net Income

-1.3% (from $88.9M to $87.7M)

Net income slightly declined by 1.3% YoY despite higher revenue and improved operating income; increased R&D investment and other higher operating costs, even with lower interest expenses, partially offset the operating gains observed in Q2 2025 compared to Q2 2024. " "

Consolidated Revenue

FY 2025

$4.08B to $4.158B "

$4.11B to $4.15B "

raised

CooperVision Revenue

FY 2025

$2.733B to $2.786B "

$2.76B to $2.79B "

raised

CooperSurgical Revenue

FY 2025

$1.347B to $1.372B "

$1.35B to $1.36B "

no change

Non-GAAP EPS

FY 2025

$3.94 to $4.02 "

$4.05 to $4.11 "

raised

Free Cash Flow

FY 2025

$350M to $400M "

$350M to $400M "

no change

Tariffs Impact

FY 2025

no prior guidance

Negative impact to cost of goods of $4M "

no prior guidance

Currency Impact

FY 2025

no prior guidance

Headwind of 0.5% to revenues and 1% to earnings "

no prior guidance

Inventory and Market Growth

FY 2025

no prior guidance

Pressure from inventory levels and adjusted market growth assumptions for contact lenses and fertility " "

no prior guidance

Myopia Management Growth

Q1 2025: MiSight forecast 40% annual growth; strong U.S. and China activity with a planned MyDay MiSight launch. " " " Q4 2024: Back‐to‐school momentum drove MiSight fits and global campaigns boosted growth. " " Q3 2024: Record quarterly revenues with 50% YoY growth in MiSight and expanding MyDay capacity supported by global campaigns. " "

Q2 2025: MiSight revenue reached $25M with 35% global growth; new pricing model and promotions (1–3 months free) were introduced; MyDay continued double-digit growth while SightGlass was not discussed; outlook remains strong with strategic adjustments. " " "

Recurring with evolving strategic emphasis. Growth continues steadily though with adjustments in promotions and pricing; regional nuances (e.g. China) are being more explicitly addressed.

Channel Inventory Dynamics

Q1 2025: Soft start due to channel inventory reductions with a focus on contractual minimums and regional adjustments. " " Q4 2024: MiSight saw inventory contraction due to distributor tightening globally driven by cash management concerns. " " Q3 2024: Not mentioned.

Q2 2025: General pressure on inventory levels across the industry was noted; reduction in channel inventories is impacting revenue despite strong fitting activity. " " " "

Recurring with consistent cautious sentiment. Concerns about tightening inventory persist and are now affecting revenue more noticeably.

Operational Efficiency and Margin Improvements

Q1 2025: Improvements in consolidated gross margins (up to 68.7%) driven by efficiency gains in manufacturing and distribution; operating expense leverage from targeted cost cuts. " " Q4 2024: Leverage from prior investments boosted manufacturing productivity and capacity expansion, supporting margin expansion. " " Q3 2024: Record revenues and SG&A efficiencies contributed to improved margins and non‐GAAP earnings. " " "

Q2 2025: Efficiency gains and disciplined cost management led to improved consolidated gross margin (68%); operating expenses managed effectively even as investments continued; overall, margins remain on an upward trend. " " "

Recurring with stable positive sentiment. Ongoing efficiency initiatives continue to drive margin improvements and disciplined cost management.

Pricing Power and Product Mix Optimization

Q1 2025: Global price increases expected in the 2–3% range with premium products (torics, multifocals) driving higher margins; product mix benefited from strong sales of premium brands. " " Q4 2024: Confidence in passing along inflation impacts with a shift to premium, higher‐priced products; roughly one-third of growth attributed to price increases. " " Q3 2024: Price actions taken to offset 3% inflation; product mix shift towards specialty lines enhanced margins. " "

Q2 2025: Emphasis on a sound pricing environment and product mix optimization continues with strong demand for higher-priced products and specialty lenses; legacy products are declining, bolstering the mix toward more profitable categories. " " " "

Recurring with consistent strength. Pricing strategies and product mix enhancements remain a core focus, sustaining margin growth despite external pressures.

China Market Performance and Sentiment Variability

Q1 2025: Core contact lens business declined in China, though myopia management (MiSight and ortho‐k) showed “nice growth” via partnership channels; China contributed less than 5% of revenues. " " Q4 2024: Temporary softness observed in the China market, with a recovery thereafter. " Q3 2024: China noted as the weakest market for myopia management, with variable sentiment. "

Q2 2025: China market described as “essentially flat” with MiSight performance slightly negative; overall, sentiment remains cautious as the region shows limited growth. " "

Recurring with persistent challenges. China continues to lag in performance, with sentiment remaining cautious and challenges in converting regional potential into growth.

Fertility Business Challenges and Risks

Q1 2025: Q1 fertility revenue grew only 1% due to capital pull‐forward and installation delays; tough comparisons noted though long-term trends remain positive. " " Q4 2024: Discussion was generally positive with double-digit growth and robust macro trends supporting fertility. " " " Q3 2024: Addressed challenges related to a culture media recall and ongoing litigation risk, though the team’s transparency helped regain trust. "

Q2 2025: Soft market growth with reduced expectations (low single digits) amid economic pressures; regional challenges such as delayed capital purchases in Asia-Pacific, Europe, and India are affecting short-term performance. " " " " "

Recurring but with heightened caution. Earlier recalls/litigation issues were a concern in Q3 but are not mentioned now; however, softening growth and delays signal ongoing challenges.

Tariff-Related Cost Pressures

Q1 2025: Tariffs were noted to have minimal impact on current operations; little focus on tariff pressures. " Q4 2024: No direct exposure owing to manufacturing locations outside tariff‐sensitive regions. " Q3 2024: Not discussed.

Q2 2025: Tariff impacts now quantified with an estimated $4M negative effect and about a 3% premitigation impact on fiscal 2026 earnings; mitigation strategies (price increases, supply chain adjustments) are under review. " " "

Recurring with a slight shift. Previously downplayed, tariff‐related costs are now tracked more rigorously, though they remain a managed risk.

Easing Manufacturing Constraints for MyDay Lenses

Q1 2025: Reported capacity expansion and improved production allowed earlier easing of constraints; expectations for accelerated growth in later quarters. " " " Q4 2024: Demand still exceeded capacity, but new manufacturing lines were in the works with an expected 1.5‑year rollout. " " Q3 2024: Some capacity added, though demand remained higher than supply in key markets. " "

Q2 2025: Aggressive distribution of fitting sets and trial lenses due to increased product availability; easing of constraints is yielding accelerated fitting activity with an outlook for higher revenue in Q4. " " "

Recurring with improved outlook. Easing supply constraints is showing progress as increased capacity and distribution efforts are expected to drive near-term growth.

Emergence of New Competitors in the PARAGARD Market

Q1 2025: A new nonhormonal IUD competitor was noted as having recently been approved; PARAGARD remains strong with differentiated efficacy and longevity. " " " Q4 2024: The competitive product had not yet been approved; softer market trends in IUDs were attributed more to shifts among hormonal products than to the competitor. " " Q3 2024: A potential competitor was discussed in the context of a challenging regulatory environment with PARAGARD’s recent enhancements keeping it competitive. " "

Q2 2025: No mention of new competitors in the PARAGARD market.

No longer mentioned. The discussion of emerging competitors has dropped from recent earnings calls, suggesting it is not a current focus.

Litigation Risk from Fertility Recall

Q3 2024: Significant discussion regarding a culture media recall in the fertility business, with litigation risk being managed through insurance and proactive customer communication. " Q1 2025 and Q4 2024: Not a focal point in the discussions.

Q2 2025: No mention of litigation risk from a fertility recall.

No longer mentioned. Previously a concern in Q3 2024, litigation risks related to the fertility recall are not raised in the current period, possibly indicating resolution or lower priority.