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Cooper Companies
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Latest analysis
Updated Jun 5, 2026
Cooper Companies posts 8% revenue growth in Q2 FY2026 but records $271.6M litigation charge from embryo culture media recall, swinging CooperSurgical to a $225M operating loss.
The dominant event of Q2 FY2026 is the $271.6 million litigation accrual — net of $52.5 million in insurance recoveries — stemming from the December 2023 voluntary recall of CooperSurgical LifeGlobal embryo culture media, which drove CooperSurgical to a $225.0 million operating loss and compressed consolidated operating income to a $31.0 million loss for the quarter. Beneath the litigation noise, the underlying business performed solidly: CooperVision grew segment net sales 8% in Q2 and expanded operating margin to 30%, while CooperSurgical's fertility category grew 13% in the quarter, signaling durable demand in IVF consumables and genetic testing. The litigation accrual represents a step-change in recognized exposure — management had previously assessed material loss as not probable — making the revised contingency assessment the single most consequential disclosure in this filing.
Tone: defensiveRevenue
$4.1B
COO 10-K · FY 2025
Employees
15,000
Revenue FY2024
$3.9B
Headquarters
San Ramon, CA
Profile
COO 10-K Item 1 · Dec 5, 2025The Cooper Companies is a global medical device company operating through two segments: CooperVision, which manufactures and markets soft contact lenses including myopia management products, and CooperSurgical, which offers fertility and women's health products and services. The company sells in over 130 countries and reaches more than fifty million patients annually. Its portfolio spans single-use, two-week, and monthly contact lenses as well as IVF consumables, donor gametes, cryostorage, and contraception.
Read filing description ↓ Collapse description ↑
The Cooper Companies, Inc. is a leading global medical device company focused on helping people experience life's beautiful moments. Headquartered in San Ramon, California, Cooper sells products in over 130 countries and positively impacts over fifty million lives each year. Cooper operates through two business segments, CooperVision and CooperSurgical. Our two business segments elevate standards of care with products and services in the fields of vision, fertility and women's health. CooperVision is a global manufacturer providing products for contact lens wearers. CooperVision develops, manufactures and markets a broad range of single-use, two-week and monthly contact lenses, featuring advanced materials and optics. CooperVision designs its products to address vision challenges such as astigmatism, presbyopia and myopia with a broad collection of spherical, toric and multifocal contact lenses. CooperVision also manufactures and markets myopia management products, including the internally developed MiSight 1 day lens, as well as other specialty eyecare products such as orthokeratology (ortho-k) and scleral lenses. CooperSurgical offers a broad array of products and services focused on fertility and women's health. Our portfolio encompasses more than 600 products and services. Our medical devices are used in gynecology and obstetrics, including but not limited to surgical products, contraception and labor and delivery as well as cord blood and cord tissue storage services. Our fertility portfolio encompasses medical devices supporting the in vitro fertilization (IVF) process, egg and sperm donation, cryopreservation, and genomic services (including genetic testing). CooperSurgical has established its market presence and distribution system by developing products and acquiring companies, products and services that complement its business model.
Primary products
- Biofinity
- Biofinity Energys
- Avaira Vitality
- MyDay
- MyDay Energys
- clariti 1 day
Business segments
End markets
Geographies
Named competitors
“We believe that in order to compete successfully in the numerous categories of the contact lens market, companies must offer differentiated products that are priced competitively and manufactured efficiently.” Competitive position, as stated in the filing
Revenue commentary · FY 2025
CooperVision net sales grew 5% year-over-year to $2,743.8 million and CooperSurgical net sales grew 5% to $1,348.6 million, driving consolidated net sales growth from $3,895.4 million in fiscal 2024 to $4,092.4 million in fiscal 2025.
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