GKOS · Glaukos Corp - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $507.44M | $383.48M | $314.71M | $282.86M | $294.01M | $224.96M |
| Cost of Revenue | $111.81M | $94.03M | $75.58M | $68.98M | $66.63M | $91.72M |
| Gross Profit | $282.76M | $289.45M | $239.14M | $213.88M | $227.38M | $133.24M |
| R&D | $150.61M | $136.43M | $138.77M | $123.27M | $101.00M | $85.39M |
| SG&A | $331.75M | $261.17M | $224.07M | $192.93M | $179.26M | $171.40M |
| Total Operating Expenses | $482.36M | $411.82M | $367.84M | $296.20M | $260.26M | $256.79M |
| D&A | $38.09M | $35.65M | $33.65M | $31.58M | $29.66M | $29.38M |
| Operating Income | ($199.60M) | ($122.37M) | ($128.70M) | ($82.31M) | ($32.87M) | ($123.55M) |
| Interest Expense | $4.63M | $10.04M | $13.63M | $13.72M | $13.37M | $14.12M |
| Income Tax | ($5.35M) | $771.0K | $934.0K | $766.0K | $326.0K | ($11.97M) |
| Net Income | ($187.69M) | ($146.37M) | ($134.66M) | ($99.19M) | ($49.59M) | ($120.35M) |
| EPS - Basic | ($3.28) | ($2.77) | ($2.78) | ($2.09) | ($1.07) | ($2.70) |
| EPS - Diluted | ($3.28) | ($2.77) | ($2.78) | ($2.09) | ($1.07) | ($2.70) |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $90.81M | $169.63M | $93.47M | $119.53M | $100.71M | $96.60M |
| Accounts Receivable | $108.61M | $60.74M | $39.85M | $36.07M | $33.44M | $36.06M |
| Inventory | $63.56M | $57.68M | $41.99M | $37.84M | $23.01M | $15.81M |
| Accounts Payable | $24.62M | $13.03M | $13.44M | $14.40M | $7.33M | $4.37M |
| Current Assets | $474.98M | $449.79M | $395.46M | $443.86M | $486.13M | $469.44M |
| Total Assets | $893.49M | $974.76M | $940.41M | $1.00B | $1.05B | $1.01B |
| Current Liabilities | $101.28M | $75.13M | $74.01M | $72.36M | $63.36M | $49.70M |
| Long-term Debt | - | - | - | - | - | - |
| Total Liabilities | $237.33M | $207.82M | $478.65M | $472.38M | $462.55M | $338.05M |
| Stockholders' Equity | $656.15M | $766.93M | $461.77M | $530.00M | $587.15M | $667.45M |
| Retained Earnings | ($933.13M) | ($745.44M) | ($599.07M) | ($464.41M) | ($365.21M) | ($310.06M) |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | ($14.79M) | ($61.32M) | ($57.76M) | ($33.08M) | $24.71M | ($22.99M) |
| Investing Cash Flow | ($77.61M) | $47.83M | $14.10M | $44.78M | ($58.23M) | ($205.06M) |
| Financing Cash Flow | $11.89M | $91.54M | $15.04M | $6.25M | $39.26M | $262.54M |
| CapEx | $7.67M | $6.30M | $20.25M | $30.27M | $47.78M | $6.93M |
| Free Cash Flow | ($22.45M) | ($67.62M) | ($78.01M) | ($63.35M) | ($23.08M) | ($29.92M) |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 55.7% | 75.5% | 76.0% | 75.6% | 77.3% | 59.2% |
| Operating margin | -39.3% | -31.9% | -40.9% | -29.1% | -11.2% | -54.9% |
| EBITDA margin | -31.8% | -22.6% | -30.2% | -17.9% | -1.1% | -41.9% |
| Net margin | -37.0% | -38.2% | -42.8% | -35.1% | -16.9% | -53.5% |
| Free cash flow margin | -4.4% | -17.6% | -24.8% | -22.4% | -7.8% | -13.3% |
| FCF / Net income | 0.12 | 0.46 | 0.58 | 0.64 | 0.47 | 0.25 |
| R&D / Revenue | 29.7% | 35.6% | 44.1% | 43.6% | 34.4% | 38.0% |
| SG&A / Revenue | 65.4% | 68.1% | 71.2% | 68.2% | 61.0% | 76.2% |
| Effective tax rate | - | - | - | - | - | - |
| Return on assets | -21.0% | -15.0% | -14.3% | -9.9% | -4.7% | -12.0% |
| Return on equity | -28.6% | -19.1% | -29.2% | -18.7% | -8.4% | -18.0% |
| Return on invested capital | - | - | - | - | - | - |
| Liquidity | ||||||
| Current ratio | 4.69 | 5.99 | 5.34 | 6.13 | 7.67 | 9.45 |
| Quick ratio | 4.06 | 5.22 | 4.78 | 5.61 | 7.31 | 9.13 |
| Cash ratio | 0.90 | 2.26 | 1.26 | 1.65 | 1.59 | 1.94 |
| Leverage | ||||||
| Debt / Equity | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - |
| Interest coverage | -43.1x | -12.2x | -9.4x | -6.0x | -2.5x | -8.8x |
| Equity multiplier | 1.36 | 1.27 | 2.04 | 1.89 | 1.79 | 1.51 |
| Liabilities / Assets | 0.27 | 0.21 | 0.51 | 0.47 | 0.44 | 0.34 |
| Efficiency | ||||||
| Asset turnover | 0.57 | 0.39 | 0.33 | 0.28 | 0.28 | 0.22 |
| Inventory turnover | 1.76 | 1.63 | 1.80 | 1.82 | 2.90 | 5.80 |
| Days sales outstanding | 78d | 58d | 46d | 47d | 42d | 59d |
| Days inventory outstanding | 207d | 224d | 203d | 200d | 126d | 63d |
| Days payable outstanding | 80d | 51d | 65d | 76d | 40d | 17d |
| Cash conversion cycle | 205d | 231d | 184d | 171d | 127d | 104d |
| Valuation | ||||||
| P / E | - | - | - | - | - | - |
| P / B | 9.8x | 10.3x | 8.3x | 3.9x | 3.5x | 5.0x |
| P / S | 12.7x | 20.6x | 12.2x | 7.3x | 7.0x | 14.9x |
| EV / EBITDA | - | - | - | - | - | - |
| Growth | ||||||
| Revenue growth (YoY) | 32.3% | 21.9% | 11.3% | -3.8% | 30.7% | -5.1% |
| Revenue CAGR (3y) | 21.5% | 9.3% | 11.8% | 6.1% | 37.0% | 12.2% |
| Revenue CAGR (5y) | 17.7% | 10.1% | 22.4% | 12.2% | 20.8% | 60.8% |
| Gross profit growth (YoY) | -2.3% | 21.0% | 11.8% | -5.9% | 70.7% | -32.8% |
| Operating income growth (YoY) | -63.1% | 4.9% | -56.4% | -150.4% | 73.4% | -145.7% |
| Net income growth (YoY) | -28.2% | -8.7% | -35.8% | -100.0% | 58.8% | - |
| EPS growth (YoY) | -18.4% | 0.4% | -33.0% | -95.3% | 60.4% | - |
| EPS CAGR (3y) | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - |
| FCF growth (YoY) | 66.8% | 13.3% | -23.1% | -174.5% | 22.9% | -487.5% |
| FCF CAGR (5y) | - | - | - | - | - | - |
| Book value growth (YoY) | -14.4% | 66.1% | -12.9% | -9.7% | -12.0% | -0.9% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$507.44M totalDevelopment And Commercialization Of Ophthalmic Therapies$507.44M · 100.0%
Product / service
$375.04M totalGlaucoma$298.59M · 79.6%
Corneal Health$76.45M · 20.4%
Geographic
$507.44M totalUS$375.04M · 73.9%
Non Us$132.40M · 26.1%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
0.45
Distress
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
2/9
Weak
- ✗Net income positive
- ✗Operating cash flow positive
- ✗ROA improved YoY
- ✓Cash flow > net income
- -Long-term debt decreased
- ✗Current ratio improved
- ✗No share dilution
- ✗Gross margin improved
- ✓Asset turnover improved
Peer comparison
Same SIC group: Surgical & Medical Instruments & Apparatus
Comparing GLAUKOS Corp against the 5 most active filers in the same SIC group.