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GKOS

Glaukos Corporation

GKOS

Glaukos Corporation • NYSE
$106.29 ▲ 0.85% (+0.90)
Market Cap $6.10 B
52w High $163.71
52w Low $73.16
Dividend Yield 0%
P/E -69.02
Volume 240.19K
Outstanding Shares 57.41M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $133.537M ▲ $121.071M ▲ $-16.231M ▲ -12.155% ▲ $-0.28 ▲ $-570K ▲
Q2-2025 $124.12M ▲ $119.913M ▲ $-19.657M ▼ -15.837% ▲ $-0.34 ▼ $-8.634M ▼
Q1-2025 $106.664M ▲ $103.026M ▼ $-18.146M ▲ -17.012% ▲ $-0.32 ▲ $-7.352M ▲
Q4-2024 $105.499M ▲ $105.53M ▲ $-33.58M ▼ -31.83% ▼ $-0.6 ▼ $-22.304M ▼
Q3-2024 $96.67M $98.746M $-21.409M -22.146% $-0.39 $-9.508M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $273.712M ▼ $999.378M ▲ $229.835M ▲ $769.543M ▲
Q2-2025 $274.786M ▼ $986.958M ▲ $221.846M ▲ $765.112M ▲
Q1-2025 $298.696M ▼ $966.178M ▼ $202.219M ▼ $763.959M ▼
Q4-2024 $318.915M ▲ $974.756M ▲ $207.825M ▼ $766.931M ▲
Q3-2024 $262.473M $926.543M $258.034M $668.509M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-16.231M ▲ $-10.09M ▼ $-3.993M ▲ $5.264M ▲ $-2.567M ▲ $-11.725M ▼
Q2-2025 $-19.657M ▼ $6.979M ▲ $-20.782M ▲ $2.245M ▲ $-14.338M ▲ $5.8M ▲
Q1-2025 $-18.146M ▲ $-18.521M ▼ $-36.948M ▼ $1.95M ▼ $-55.374M ▼ $-20.459M ▼
Q4-2024 $-33.58M ▼ $507K ▲ $11.787M ▼ $60.113M ▲ $69.483M ▲ $-1.226M ▲
Q3-2024 $-21.409M $-9.586M $30.563M $9.668M $32.068M $-11.036M

Revenue by Products

Product Q1-2020Q2-2020Q3-2020Q4-2020
Corneal Health
Corneal Health
 $10.00M ▲$10.00M ▲$10.00M ▲$10.00M ▲
Glaucoma
Glaucoma
 $40.00M ▲$20.00M ▼$50.00M ▲$60.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has grown steadily over the past several years, and gross profit has risen along with it, which suggests the core business is gaining commercial traction. However, the company still operates at a loss, with operating and net results consistently negative. Losses narrowed for a time but have recently widened again, implying that spending on growth, R&D, or commercialization is outpacing the scale benefits from higher sales. Overall, this is a growth-focused income statement: stronger top line, but profitability remains a clear work‑in‑progress.

Balance Sheet

Balance Sheet The balance sheet shows a business that has kept its overall asset base fairly stable while reshaping how it is financed. Cash levels have improved recently compared with the prior year, and debt has come down meaningfully from earlier levels, easing financial leverage. Shareholders’ equity has recovered after a dip, indicating fresh capital, accumulated losses being offset by raises, or valuation effects. In plain terms, the company looks better capitalized and less reliant on borrowing than a few years ago, but it still depends on that equity cushion to absorb ongoing losses.

Cash Flow

Cash Flow Cash flow from operations has hovered around breakeven but has been more often negative than positive, signaling a continuing cash burn to support growth and development. Free cash flow has been consistently negative, as operating outflows and ongoing investment in equipment and infrastructure exceed the cash coming in from the business. Capital spending is meaningful but not extreme, suggesting the main drain is operating costs rather than heavy bricks‑and‑mortar investment. The company can continue like this for a while with its cash resources, but over the long run it will need either improved profitability or additional external funding to sustain its pace.

Competitive Edge

Competitive Edge Glaukos occupies a specialized niche in eye care, where it helped create and lead the minimally invasive glaucoma surgery category. That early start, combined with a large patent portfolio and strong relationships with eye surgeons, gives it a defensible competitive position. Its products are tightly focused on significant, chronic eye conditions, which supports procedural adoption and physician familiarity. On the other hand, it competes in a space that attracts large medical device and pharmaceutical players, and it relies heavily on a relatively narrow set of therapeutic areas, making it sensitive to shifts in clinical practice, new rival technologies, and reimbursement decisions.

Innovation and R&D

Innovation and R&D The company’s strategy is clearly innovation‑driven. It has pioneered micro‑scale glaucoma treatments, a sustained‑release drug implant for eye pressure control, and advanced corneal therapies such as its next‑generation cross‑linking platform. These projects create a pipeline that extends from glaucoma into corneal disease and potentially retinal disorders, giving multiple shots at future growth. The flip side is that such a research‑heavy model is expensive and contributes to ongoing losses. Success depends on smooth commercialization of newly approved products, continued clinical validation, regulatory progress, and the company’s ability to turn its technology platforms into widely adopted, reimbursed standards of care.

Summary

Glaukos combines strong growth in a focused medical niche with a financial profile that still reflects an emerging, investment phase company. Sales and gross profit are trending the right way, but profitability and cash generation have yet to follow, and the business continues to lean on its balance sheet strength to fund development and commercialization. Its moat rests on first‑mover status, patents, and highly specialized technologies in ophthalmology, which offer meaningful upside if new products gain traction. At the same time, persistent losses, ongoing cash burn, execution risk around launches, and competition from larger eye‑care players are key factors to watch when evaluating how its story may evolve from innovation to sustainable earnings.

NEWS

November 3, 2025 · 7:00 AM UTC

Glaukos Announces Participation in Upcoming Investor Conferences

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October 29, 2025 · 4:05 PM UTC

Glaukos Announces Third Quarter 2025 Financial Results

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October 20, 2025 · 7:00 AM UTC

Glaukos Announces FDA Approval of Epioxa™

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October 14, 2025 · 7:00 AM UTC

Glaukos Innovation to be Highlighted at the 2025 American Academy of Ophthalmology Annual Meeting

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October 8, 2025 · 7:00 AM UTC

Glaukos to Release Third Quarter 2025 Financial Results after Market Close on October 29

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