GLAUKOS Corp

Listed Company

GKOSCIK 0001192448NYSELarge AcceleratedSurgical & Medical Instruments & ApparatusDelawareFY ends Dec 31

Period

FY 2025

Revenue

$507.44M

Net Income

$-187.70M

Total Assets

$893.49M

Equity

$656.15M

Shares Out

58.73M

Op. Cash Flow

$-14.80M

Business

GLAUKOS Corp is an ophthalmic pharmaceutical and medical technology company developing and commercializing dropless therapies and micro-invasive surgical solutions for glaucoma, corneal disorders, and retinal disease. It offers MIGS micro-scale surgical stents (iStent family), intracameral sustained-release implants (iDose TR), bio-activated corneal cross-linking pharmaceuticals (iLink/Photrexa), transdermal eyelid creams (iLution), and sustained‑release intravitreal retinal platforms (Retinal XR). The company reports one operating segment organized around five principal platforms and multiple clinical programs. It sells primarily to ophthalmic surgeons via U.S. direct sales and globally through subsidiaries and independent distributors to ambulatory surgery centers, hospitals, and physician practices.

Summary from filing dated 2025-02-25

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net sales	507	383	315	283	294
Cost of sales	112	94	76	69	67
Impairment of intangible asset	113	—	—	—	—
Gross profit	283	289	239	214	227
Selling, general and administrative	332	261	224	193	179
Research and development	151	136	139	123	101
Acquired in-process research and development	—	14	5	10	10
Total operating expenses	482	412	368	296	260
Loss from operations	−200	−122	−129	−82	−33
Interest income	11	11	9	2	1
Interest expense	−5	−10	−14	−14	—
Charges associated with convertible senior notes	—	−18	—	—	—
Other income (expense), net	479,000	−6	−558,000	—	—
Total non-operating income (expense)	7	−23	−5	−16	−16
Loss before taxes	−193	−146	−134	−98	−49
Income tax (benefit) provision	−5	771,000	934,000	766,000	326,000
Net loss	−188	−146	−135	−99	−50
Basic net loss per share (in dollar per share)	−3.28	−2.77	−2.78	−2.09	−1.07
Diluted net loss per share (in dollar per share)	−3.28	−2.77	−2.78	−2.09	−1.07
Weighted average shares outstanding used to compute basic net loss per share	57	53	48	47	46
Weighted average shares outstanding used to compute diluted net loss per share	57	53	48	47	46

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	91	170	93	120	101
Short-term investments	188	149	202	233	313
Accounts receivable, net	109	61	40	36	33
Inventory	64	58	42	38	23
Prepaid expenses and other current assets	24	12	18	17	16
Total current assets	475	450	395	444	486
Restricted cash	4	5	6	7	9
Property and equipment, net	113	98	103	94	69
Operating lease right-of-use asset	32	30	27	26	28
Finance lease right-of-use asset	39	42	44	47	49
Intangible assets, net	142	263	283	308	333
Goodwill	67	66	66	66	66
Deposits and other assets	22	21	15	11	9
Total assets	893	975	940	1,002	1,050
Accounts payable	25	13	13	14	7
Accrued liabilities	77	62	61	58	56
Total current liabilities	101	75	74	72	63
Operating lease liability	36	34	30	29	30
Finance lease liability	68	69	71	72	73
Deferred tax liability, net	441,000	7	7	7	7
Other liabilities	32	22	14	10	9
Total liabilities	237	208	479	472	463
Commitments and contingencies (Note 13)	—	—	—	—	—
Preferred stock, $0.001 par value; 5,000 shares authorized; no shares issued and outstanding as of December 31, 2025 and 2024	—	—	—	—	—
Common stock, $0.001 par value; 150,000 shares authorized; 57,539 and 56,472 shares issued and 57,511 and 56,444 shares outstanding at December 31, 2025 and 2024, respectively	58,000	56,000	49,000	48,000	47,000
Additional paid-in capital	1,586	1,510	1,060	997	952
Accumulated other comprehensive income	3	3	1	−3	15,000
Accumulated deficit	−933	−745	−599	−464	−365
Less treasury stock (28 shares as of December 31, 2025 and 2024)	−132,000	−132,000	−132,000	−132,000	−132,000
Total stockholders' equity	656	767	462	530	587
Total liabilities and stockholders' equity	893	975	940	1,002	1,050

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation	11	11	9	7	5
Amortization of intangible assets	27	25	25	25	25
Impairment of intangible asset	113	—	—	—	—
Amortization of right-of-use lease assets	4	4	4	4	5
Amortization of debt issuance costs	—	718,000	1	1	1
Deferred income tax benefit	−6	−216,000	−120,000	−54,000	−1
Loss on disposal of fixed assets	32,000	598,000	893,000	−24,000	7,000
Stock-based compensation	63	50	44	39	30
Unrealized foreign currency (gains) losses	−1	5	−980,000	2	2
Amortization of premium accretion of discount on short-term investments	−3	−4	−2	731,000	1
Other liabilities	2	5	3	785,000	2
Allowance for doubtful accounts	7	−91,000	−169,000	—	—
Acquired in-process R&D acquired through the issuance of common stock	—	5	3	—	—
Loss on capped call transaction	—	657,000	—	—	—
Inducement expense related to exchange of convertible senior notes	—	17	—	—	—
Inventory write-down	3	4	0	—	—
Provision for excess and obsolete inventory	1	662,000	530,000	—	—
Accounts receivable	−53	−22	−4	−3	2
Inventory	−8	−19	−5	−15	−8
Prepaid expenses and other current assets	−11	3	−885,000	−2	−3
Accounts payable and accrued liabilities	19	21,000	1	7	12
Deposits and other assets	5	−2	−2	−328,000	186,000
Net cash used in operating activities	−15	−61	−58	−33	25
Cash paid for acquisitions, net of cash acquired	−12	—	—	—	—
Purchase of certain real property	−17	—	—	—	—
Purchases of property and equipment	−8	−6	−20	−30	−48
Purchases of short-term investments	−232	−190	−266	−59	−215
Proceeds from sales and maturities of short-term investments	197	247	303	135	207
Proceeds from disposal of property and equipment	—	38,000	—	151,000	3,000
Investment in company-owned life insurance	−5	−3	−3	−1	−2
Other investing activities	−750,000	—	—	—	—
Net cash (used in) provided by investing activities	−78	48	14	45	−58
Proceeds from partial unwinding of capped calls related to issuance of convertible senior notes	—	53	—	—	—
Proceeds from exercise of stock options	13	39	13	4	26
Share purchases under Employee Stock Purchase Plan	8	7	6	6	5
Payments of employee taxes related to vested restricted stock units	−8	−7	−3	−3	−4
Payments related to convertible senior notes	—	−712,000	—	—	—
Payments related to capped call transactions	—	−295,000	—	301,000	—
Principal paid on finance lease	−1	−877,000	−711,000	−527,000	−659,000
Net cash provided by financing activities	12	92	15	6	39
Effect of exchange rate changes on cash and cash equivalents	804,000	−3	1	−1	−2
Net (decrease) increase in cash, cash equivalents and restricted cash	−80	75	−27	16	4
Purchases of property and equipment included in accounts payable and accrued liabilities	3	909,000	1	4	2
Contingent consideration acquired	8	—	—	—	—
Convertible senior notes exchanged for common stock, net of debt issuance costs	—	227	—	—	—
Issuance of common stock related to conversion of convertible senior notes, net of debt issuance costs	—	57	—	—	—
Taxes paid, net of refunds	949,000	1	2	522,000	272,000
Interest paid on convertible senior notes	—	5	8	8	8
Other interest paid	4	4	4	4	4

Filings

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