GKOS

MKT CAP:$7B

Glaukos Corporation

Market Cap

$7B

Healthcare·Medical - Devices·🇺🇸 United States·NYSE

Healthcare·Medical - Devices·🇺🇸·NYSE

Stock Price

$120.69+$9.97 (+9.00%)

Apr 24, 2026

Company Details

Glaukos Corporation, an ophthalmic medical technology and pharmaceutical company, focuses on the development of novel therapies for the treatment of glaucoma, corneal disorders, and retinal diseases. It offers iStent, iStent inject, iStent ...

CEO

Thomas William Burns

IPO Date

Jun 25, 2015

Website

www.glaukos.com

Key Metrics TTM

Revenue

$507M

+32.3% YoY

Net Income

-$188M

EPS (Diluted)

-$3.26

Free Cash Flow

-$22M

Revenue / Share

$8.82

Gross Margin

79.7%

Operating Margin

-15.4%

Net Margin

-37.0%

FCF Margin

-4.4%

P/S

14.0x

P/E

—

Earnings Reports

Q1 2026

Apr 29, 2026

PENDING

Q4 2025

Feb 20, 2026

$143M+35.7%EPS -$2.32

Q3 2025

Oct 30, 2025

$134M+38.1%EPS -$0.28

Q2 2025

Aug 4, 2025

$124M+29.7%EPS -$0.34

Q1 2025

May 1, 2025

$107M+24.6%EPS -$0.32

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$68M	$51M	$10M
Q2 22	$73M	$55M	-$37M
Q3 22	$71M	$54M	-$22M
Q4 22	$71M	$54M	-$34M
Q1 23	$74M	$56M	-$33M
Q2 23	$80M	$60M	-$29M
Q3 23	$78M	$60M	-$28M
Q4 23	$82M	$63M	-$39M
Q1 24	$86M	$65M	-$39M
Q2 24	$96M	$73M	-$30M
Q3 24	$97M	$74M	-$25M
Q4 24	$105M	$77M	-$29M
Q1 25	$107M	$82M	-$21M
Q2 25	$124M	$97M	-$23M
Q3 25	$134M	$105M	-$16M
Q4 25	$143M	$120M	-$18M

Valuation

Quarter	P/S	P/E
Q1 22	24.1x	—
Q2 22	24.6x	—
Q3 22	24.9x	—
Q4 22	25.0x	—
Q1 23	24.5x	—
Q2 23	23.9x	—
Q3 23	23.3x	—
Q4 23	22.5x	—
Q1 24	21.7x	—
Q2 24	20.7x	—
Q3 24	19.7x	—
Q4 24	18.5x	—
Q1 25	17.5x	—
Q2 25	16.4x	—
Q3 25	15.1x	—
Q4 25	14.0x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$10M	$3M
Q2 22	-$12M	-$22M
Q3 22	-$27M	-$33M
Q4 22	-$4M	-$12M
Q1 23	-$31M	-$38M
Q2 23	-$8M	-$14M
Q3 23	-$8M	-$12M
Q4 23	-$11M	-$15M
Q1 24	-$34M	-$35M
Q2 24	-$18M	-$21M
Q3 24	-$10M	-$11M
Q4 24	$507.0K	-$1M
Q1 25	-$19M	-$20M
Q2 25	$7M	$6M
Q3 25	-$10M	-$12M
Q4 25	$7M	$4M

Capital Expenditures

Quarter	CapEx
Q1 22	$7M
Q2 22	$9M
Q3 22	$6M
Q4 22	$8M
Q1 23	$7M
Q2 23	$6M
Q3 23	$3M
Q4 23	$4M
Q1 24	$968.0K
Q2 24	$2M
Q3 24	$1M
Q4 24	$2M
Q1 25	$2M
Q2 25	$1M
Q3 25	$2M
Q4 25	$3M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	-0.4%	-27.4%
Q2 22	-6.9%	+18.6%
Q3 22	-4.6%	+45.8%
Q4 22	-2.7%	+15.2%
Q1 23	+9.2%	+84.6%
Q2 23	+10.6%	+0.0%
Q3 23	+9.5%	+14.2%
Q4 23	+15.6%	+15.3%
Q1 24	+15.9%	+16.6%
Q2 24	+19.0%	+14.8%
Q3 24	+23.9%	+14.4%
Q4 24	+28.1%	+10.9%
Q1 25	+24.6%	+2.1%
Q2 25	+29.7%	+16.8%
Q3 25	+38.1%	+23.5%
Q4 25	+35.7%	+20.4%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$7M	10.2%
Q2 22	$11M	14.5%
Q3 22	$9M	13.2%
Q4 22	$12M	16.4%
Q1 23	$10M	13.8%
Q2 23	$10M	12.3%
Q3 23	$10M	13.4%
Q4 23	$13M	15.8%
Q1 24	$11M	13.0%
Q2 24	$11M	11.8%
Q3 24	$14M	14.9%
Q4 24	$13M	12.6%
Q1 25	$13M	12.2%
Q2 25	$18M	14.5%
Q3 25	$15M	11.2%
Q4 25	$17M	12.1%

OpEx Breakdown

Quarter	R&D	SG&A
Q1 22	$27M	$44M
Q2 22	$32M	$50M
Q3 22	$29M	$47M
Q4 22	$36M	$52M
Q1 23	$35M	$54M
Q2 23	$33M	$53M
Q3 23	$33M	$54M
Q4 23	$37M	$63M
Q1 24	$31M	$62M
Q2 24	$34M	$66M
Q3 24	$35M	$64M
Q4 24	$37M	$69M
Q1 25	$32M	$71M
Q2 25	$37M	$83M
Q3 25	$38M	$83M
Q4 25	$44M	$95M

Revenue Segments

Quarter

Revenue by Geography

Quarter	International	United States	Non-US
Q3 23	$23M	$55M	—
Q1 24	$28M	$58M	—
Q2 24	$29M	$67M	—
Q3 24	—	$70M	$27M
Q1 25	—	$75M	$32M
Q2 25	—	$91M	$34M
Q3 25	—	$101M	$32M
Q4 25	—	$108M	$35M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$106M	$309M	$415M
Q2 22	$103M	$289M	$391M
Q3 22	$104M	$258M	$362M
Q4 22	$120M	$233M	$353M
Q1 23	$76M	$241M	$318M
Q2 23	$95M	$209M	$304M
Q3 23	$109M	$192M	$301M
Q4 23	$93M	$202M	$295M
Q1 24	$42M	$230M	$273M
Q2 24	$68M	$194M	$262M
Q3 24	$100M	$162M	$262M
Q4 24	$170M	$149M	$319M
Q1 25	$114M	$184M	$299M
Q2 25	$101M	$174M	$275M
Q3 25	$98M	$175M	$274M
Q4 25	$91M	$188M	$279M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	50M	+5.5%	+8.3%
Q2 22	47M	-4.3%	+2.3%
Q3 22	48M	+0.5%	-3.5%
Q4 22	48M	+0.3%	+1.7%
Q1 23	48M	+0.3%	-3.3%
Q2 23	48M	+0.8%	+2.0%
Q3 23	49M	+0.8%	+2.2%
Q4 23	49M	+0.4%	+2.4%
Q1 24	50M	+1.4%	+3.5%
Q2 24	51M	+2.3%	+5.0%
Q3 24	55M	+8.5%	+13.1%
Q4 24	56M	+1.0%	+13.7%
Q1 25	57M	+1.9%	+14.2%
Q2 25	57M	+0.5%	+12.2%
Q3 25	57M	+0.3%	+3.7%
Q4 25	58M	+0.7%	+3.5%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$93.1K	727
Q2 22	$100.0K	727
Q3 22	$98.0K	727
Q4 22	$91.0K	783
Q1 23	$94.4K	783
Q2 23	$102.7K	783
Q3 23	$99.7K	783
Q4 23	$90.8K	907
Q1 24	$94.4K	907
Q2 24	$105.5K	907
Q3 24	$106.6K	907
Q4 24	$106.0K	995
Q1 25	$107.2K	995
Q2 25	$124.7K	995
Q3 25	$134.2K	995
Q4 25	$130.8K	1K

Revenue / Employee