GLAUKOS Corp Segments Disclosure
Note 14. Business Segment Information
The Company has one business activity and operates as one operating segment: the development and commercialization of ophthalmic therapies designed to treat glaucoma, corneal disorders and retinal diseases. The Company determined its operating segment on the same basis that it uses to evaluate its performance internally. The Company’s revenues disaggregated by revenue and product category are included in Note 8, Revenue from Contracts with Customers. The Company’s chief operating decision-maker, its , reviews its consolidated operating results for the purpose of allocating resources and evaluating financial performance.
|
|
Year ended December 31, |
|
|||||||||
|
|
2025 |
|
|
2024 |
|
|
2023 |
|
|||
|
|
(in thousands) |
|
|||||||||
Net sales |
|
$ |
507,442 |
|
|
$ |
383,481 |
|
|
$ |
314,711 |
|
Less: |
|
|
|
|
|
|
|
|
|
|||
Cost of sales |
|
|
111,814 |
|
|
|
94,027 |
|
|
|
75,575 |
|
Impairment of intangible asset |
|
|
112,867 |
|
|
|
— |
|
|
|
— |
|
Sales, marketing & distribution |
|
|
161,837 |
|
|
|
140,094 |
|
|
|
137,959 |
|
Research & development |
|
|
107,131 |
|
|
|
84,609 |
|
|
|
86,294 |
|
Clinical |
|
|
43,483 |
|
|
|
51,816 |
|
|
|
52,474 |
|
General & administrative |
|
|
169,910 |
|
|
|
121,072 |
|
|
|
86,109 |
|
In-process research and development |
|
|
— |
|
|
|
14,229 |
|
|
|
5,000 |
|
Significant segment expenses |
|
|
707,042 |
|
|
|
505,847 |
|
|
|
443,411 |
|
Interest income |
|
|
10,714 |
|
|
|
11,105 |
|
|
|
9,164 |
|
Interest expense |
|
|
(4,635 |
) |
|
|
(10,040 |
) |
|
|
(13,633 |
) |
Charges associated with convertible senior notes |
|
|
— |
|
|
|
(18,012 |
) |
|
|
— |
|
Other income (expense), net |
|
|
479 |
|
|
|
(6,288 |
) |
|
|
(558 |
) |
Income tax (benefit) provision |
|
|
(5,351 |
) |
|
|
771 |
|
|
|
934 |
|
Net loss |
|
$ |
(187,691 |
) |
|
$ |
(146,372 |
) |
|
$ |
(134,661 |
) |
|
|
Property and equipment, net |
|
|
Depreciation and amortization |
|
|
Capital expenditures |
|
|||||||||||||||||||||||||||
|
|
As of December 31, |
|
|
Year ended December 31, |
|
|
Year ended December 31, |
|
|||||||||||||||||||||||||||
|
|
2025 |
|
|
2024 |
|
|
2023 |
|
|
2025 |
|
|
2024 |
|
|
2023 |
|
|
2025 |
|
|
2024 |
|
|
2023 |
|
|||||||||
United States |
|
$ |
113,054 |
|
|
$ |
97,726 |
|
|
$ |
103,098 |
|
|
$ |
38,043 |
|
|
$ |
35,615 |
|
|
$ |
33,646 |
|
|
$ |
7,568 |
|
|
$ |
6,229 |
|
|
$ |
20,238 |
|
International |
|
|
199 |
|
|
|
141 |
|
|
|
114 |
|
|
|
50 |
|
|
|
35 |
|
|
|
8 |
|
|
|
99 |
|
|
|
71 |
|
|
|
10 |
|
Total |
|
$ |
113,253 |
|
|
$ |
97,867 |
|
|
$ |
103,212 |
|
|
$ |
38,093 |
|
|
$ |
35,650 |
|
|
$ |
33,654 |
|
|
$ |
7,667 |
|
|
$ |
6,300 |
|
|
$ |
20,248 |
|
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 23, 2026 | Showing above |
| 2024 | Feb 25, 2025 | |
| 2023 | Feb 23, 2024 | |
| 2022 | Feb 24, 2023 | |
| 2021 | Feb 28, 2022 | |
| 2020 | Mar 1, 2021 | |
| 2019 | Mar 2, 2020 | |
| 2018 | Feb 28, 2019 | |
| 2017 | Feb 28, 2018 | |
| 2016 | Mar 15, 2017 | |
| 2015 | Mar 15, 2016 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.