A Business at a Glance
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GLAUKOS Corp
GKOS
$8.8B
Mkt Cap
$153.58
+0.95%
GLAUKOS Corp (GKOS) has a 5-year average return on invested capital (ROIC) of -18.4%. This is below average and may indicate limited pricing power.
GLAUKOS Corp (GKOS) has a market capitalization of $9.0B. It is classified as a mid-cap stock.
GLAUKOS Corp (GKOS) does not currently pay a regular dividend.
GLAUKOS Corp (GKOS) operates in the Surgical & Medical Instruments & Apparatus industry, within the Healthcare sector.
GLAUKOS Corp (GKOS) reported annual revenue of $507 million in its most recent fiscal year, based on SEC EDGAR filings.
GLAUKOS Corp (GKOS) has a net profit margin of -37.0%. The company is currently unprofitable.
GLAUKOS Corp (GKOS) generated $-22 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
Glaukos is an ophthalmic pharmaceutical and medical technology company focused on developing novel, dropless therapies and commercializing associated products for the treatment of glaucoma, corneal disorders, and retinal disease. We first developed Micro-Invasive Glaucoma Surgery (MIGS) as an alternative to the traditional glaucoma treatment paradigm, launching our first MIGS device, the iStent, commercially in 2012. In 2024, we commenced commercialization activities for iDose® TR, a first-of-its-kind, long-duration, intracameral procedural pharmaceutical implant designed to continuously deliver glaucoma drug therapy inside the eye for extended periods of time. We also offer commercially proprietary bio-activated pharmaceutical therapies for the treatment of corneal disorders.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 551M | 507M | 383M | 315M | 283M | 294M |
| Net Income | -189M | -188M | -146M | -135M | -99M | -50M |
| EPS | $-3.29 | $-3.28 | $-2.77 | $-2.78 | $-2.09 | $-1.07 |
| Free Cash Flow | -18M | -22M | -68M | -78M | -63M | -23M |
| ROIC | -34.0% | -24.1% | -21.4% | -23.7% | -15.7% | -7.1% |
| Gross Margin | 57.6% | 55.7% | 75.5% | 76.0% | 75.6% | 77.3% |
| Debt/Equity | 0.10 | 0.16 | 0.14 | 0.22 | 0.19 | 0.18 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | -199M | -200M | -122M | -129M | -82M | -33M |
| Operating Margin | -36.1% | -39.3% | -31.9% | -40.9% | -29.1% | -11.2% |
| ROE | -28.2% | -26.4% | -23.8% | -27.2% | -17.8% | -7.9% |
| Shares Outstanding | 58M | 57M | 53M | 48M | 47M | 46M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 46M | 72M | 114M | 159M | 181M | 237M | 225M | 294M | 283M | 315M | 383M | 507M | 551M |
| Gross Margin | 75.0% | 48.8% | 85.9% | 86.8% | 86.2% | 83.7% | 59.2% | 77.3% | 75.6% | 76.0% | 75.5% | 55.7% | 57.6% |
| R&D | 19M | 25M | 29M | 39M | 50M | 68M | 85M | 101M | 123M | 139M | 136M | 151M | 162M |
| SG&A | 28M | 44M | 65M | 96M | 120M | 177M | 171M | 179M | 193M | 224M | 261M | 332M | 354M |
| EBIT | -13M | -10M | 4.2M | -2.3M | -13M | -50M | -124M | -33M | -82M | -129M | -122M | -200M | -199M |
| Op. Margin | -28.9% | -14.4% | 3.7% | -1.4% | -7.2% | -21.2% | -54.9% | -11.2% | -29.1% | -40.9% | -31.9% | -39.3% | -36.1% |
| Net Income | -12M | -37M | 4.5M | -92K | -13M | 15M | -120M | -50M | -99M | -135M | -146M | -188M | -189M |
| Net Margin | -26.6% | -51.9% | 4.0% | -0.1% | -7.1% | 6.5% | -53.5% | -16.9% | -35.1% | -42.8% | -38.2% | -37.0% | -34.3% |
| Non-Recurring | 0 | 0 | -40K | -6K | -156K | 4.1M | -367K | -7K | 24K | -893K | -598K | -32K | -32K |
| Returns on Capital | |||||||||||||
| ROIC | -50.6% | -14.4% | 4.0% | -0.1% | -8.3% | 3.4% | -16.5% | -7.1% | -15.7% | -23.7% | -21.4% | -24.1% | -34.0% |
| ROE | 8.1% | 132.7% | 4.3% | -0.1% | -8.3% | 3.6% | -18.0% | -7.9% | -17.8% | -27.2% | -23.8% | -26.4% | -28.2% |
| ROA | -91.4% | -52.2% | 3.6% | -0.1% | -6.9% | 3.0% | -13.2% | -4.8% | -9.7% | -13.9% | -15.3% | -20.1% | -21.2% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | -7.1M | -2.2M | 12M | 26M | 19M | -369K | -23M | 25M | -33M | -58M | -61M | -15M | -8.8M |
| Free Cash Flow | -8.0M | -3.1M | 6.0M | 20M | 8.5M | -5.1M | -30M | -23M | -63M | -78M | -68M | -22M | -18M |
| Owner Earnings | -13M | -14M | -1.2M | 3.0M | -13M | -43M | -99M | -35M | -103M | -135M | -147M | -116M | -120M |
| CapEx | 868K | 877K | 6.3M | 6.3M | 10M | 4.7M | 6.9M | 48M | 30M | 20M | 6.3M | 7.7M | 9.7M |
| Maint. CapEx | 4.2M | 4.3M | 4.7M | 5.5M | 6.3M | 6.3M | 29M | 30M | 32M | 34M | 36M | 38M | 42M |
| Growth CapEx | 0 | 0 | 1.6M | 829K | 4.1M | 0 | 0 | 18M | 0 | 0 | 0 | 0 | 0 |
| D&A | 4.2M | 4.3M | 4.7M | 5.5M | 6.3M | 6.3M | 29M | 30M | 32M | 34M | 36M | 38M | 42M |
| CapEx/OCF | N/A | N/A | 51.0% | 24.2% | 54.7% | N/A | N/A | 193.4% | N/A | N/A | N/A | N/A | 0.0% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | 1.5M | 7.9M | 8.8M | 18M | 26M | 36M | 46M | 30M | 39M | 44M | 50M | 63M | 69M |
| Debt Repayment | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 712K | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | 15M | -103M | -112M | N/A | N/A | -171M | -428M | -421M | -251M | -192M | -213M | -172M | -209M |
| Cash & Equiv. | 2.3M | 22M | 6.5M | 25M | 30M | 62M | 97M | 101M | 120M | 93M | 170M | 91M | 277M |
| Long-Term Debt | 9.0M | 765K | -9.7M | N/A | N/A | 58M | 61M | 73M | 72M | 71M | 69M | 68M | 68M |
| Debt/Equity | -0.12 | 0.10 | -0.08 | 0.20 | 0.19 | 0.11 | 0.12 | 0.18 | 0.19 | 0.22 | 0.14 | 0.16 | 0.10 |
| Interest Coverage | -15.0 | -12.3 | 14.9 | N/A | N/A | -19.6 | -8.8 | -2.5 | -6.0 | -9.4 | -28.6 | -47.5 | -47.5 |
| Equity | -151M | 95M | 117M | 138M | 174M | 673M | 667M | 587M | 530M | 462M | 767M | 656M | 671M |
| Total Assets | 26M | 117M | 134M | 166M | 207M | 818M | 1.0B | 1.0B | 1.0B | 940M | 975M | 893M | 893M |
| Total Liabilities | 187M | 21M | 17M | 28M | 33M | 145M | 338M | 463M | 472M | 479M | 208M | 237M | 222M |
| Intangibles | 13M | 10M | 6.6M | 3.1M | N/A | 383M | 358M | 333M | 308M | 283M | 263M | 142M | 133M |
| Retained Earnings | -159M | -197M | -192M | -192M | -205M | -190M | -310M | -365M | -464M | -599M | -745M | -933M | -953M |
| Working Capital | -9.6M | 84M | 103M | 123M | 146M | 205M | 420M | 423M | 372M | 321M | 375M | 374M | 396M |
| Current Assets | 11M | 104M | 120M | 149M | 177M | 263M | 469M | 486M | 444M | 395M | 450M | 475M | 486M |
| Current Liabilities | 20M | 20M | 17M | 27M | 30M | 58M | 50M | 63M | 72M | 74M | 75M | 101M | 89M |
| Per Share Data | |||||||||||||
| EPS | -5.29 | -2.13 | 0.12 | -0.00 | -0.37 | 0.37 | -2.70 | -1.07 | -2.09 | -2.78 | -2.77 | -3.28 | -3.29 |
| Owner EPS | -5.61 | -0.82 | -0.03 | 0.09 | -0.37 | -1.03 | -2.22 | -0.76 | -2.17 | -2.79 | -2.79 | -2.03 | -2.05 |
| Book Value | -66.00 | 5.44 | 3.11 | 3.99 | 4.97 | 16.15 | 14.97 | 12.67 | 11.17 | 9.53 | 14.51 | 11.47 | 11.50 |
| Cash Flow/Share | -3.10 | -0.13 | 0.33 | 0.75 | 0.54 | -0.01 | -0.52 | 0.53 | -0.70 | -1.19 | -1.16 | -0.26 | -2.53 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 2.3M | 17.5M | 37.7M | 34.6M | 35.0M | 41.7M | 44.6M | 46.3M | 47.5M | 48.4M | 52.8M | 57.2M | 58.4M |
| Valuation | |||||||||||||
| P/E Ratio | N/A | N/A | 292.3 | N/A | N/A | 148.6 | N/A | N/A | N/A | N/A | N/A | N/A | -46.7 |
| P/FCF | N/A | N/A | 219.2 | 45.6 | 228.5 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| EV/EBIT | N/A | N/A | 310.9 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Price/Book | N/A | 4.7 | 11.3 | 6.8 | 11.2 | 3.4 | 4.9 | 3.6 | 3.7 | 8.4 | 10.4 | 10.1 | 13.4 |
| Price/Sales | N/A | 6.5 | 8.9 | 8.8 | 8.4 | 11.9 | 9.6 | 10.7 | 8.4 | 9.5 | 15.8 | 11.7 | 16.3 |
| FCF Yield | N/A | -0.7% | 0.5% | 2.1% | 0.4% | -0.2% | -0.9% | -1.1% | -3.2% | -2.0% | -0.8% | -0.3% | -0.2% |
| Market Cap | N/A | 447M | 1.3B | 942M | 2.0B | 2.3B | 3.3B | 2.1B | 2.0B | 3.9B | 8.0B | 6.6B | 9.0B |
| Avg. Price | N/A | 26.63 | 26.95 | 38.58 | 43.64 | 67.45 | 48.69 | 67.98 | 50.31 | 61.98 | 114.34 | 103.49 | 153.58 |
| Year-End Price | N/A | 25.58 | 35.08 | 26.05 | 55.80 | 54.97 | 72.98 | 45.94 | 41.28 | 80.42 | 151.16 | 116.21 | 153.58 |
GLAUKOS Corp passes 1 of 9 quality checks, indicating weak fundamentals.
The company's 5-year average gross margin is 72.0%. At current prices, the estimated annualized return to fair value is +4.9%.
GLAUKOS Corp (GKOS) has a debt-to-equity ratio of 0.16. This indicates a conservatively financed balance sheet.
GLAUKOS Corp (GKOS) reported earnings per share (EPS) of $-3.28 in its most recent fiscal year.
GLAUKOS Corp (GKOS) has a return on equity (ROE) of -26.4%. A negative ROE may indicate losses or negative equity.
GLAUKOS Corp (GKOS) has a 5-year average gross margin of 72.0%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 13 years of financial data for GLAUKOS Corp (GKOS), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
GLAUKOS Corp (GKOS) has a book value per share of $11.47, based on its most recent annual SEC filing.
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