Glaukos Announces Fourth Quarter and Full Year 2024 Financial Results
Glaukos (NYSE: GKOS) reported strong financial results for Q4 and full year 2024. The company achieved record Q4 net sales of $105.5 million, up 28% year-over-year, with glaucoma sales reaching $84.1 million, a 39% increase. Full-year 2024 net sales grew 22% to $383.5 million.
Q4 gross margin was 73% (82% non-GAAP), while operating loss improved to $28.7 million from $38.6 million in Q4 2023. The company reported a Q4 net loss of $33.6 million ($0.60 per share). For the full year 2024, net loss was $146.4 million ($2.77 per share).
Looking ahead, Glaukos provided 2025 net sales guidance of $475-485 million. The company maintains a strong financial position with approximately $324 million in cash and investments, with no debt.
Glaukos (NYSE: GKOS) ha riportato risultati finanziari solidi per il quarto trimestre e per l'intero anno 2024. L'azienda ha raggiunto vendite nette record di $105,5 milioni nel Q4, in aumento del 28% rispetto all'anno precedente, con vendite di glaucoma che hanno raggiunto $84,1 milioni, un incremento del 39%. Le vendite nette per l'intero anno 2024 sono cresciute del 22% a $383,5 milioni.
Il margine lordo del Q4 è stato del 73% (82% non-GAAP), mentre la perdita operativa è migliorata a $28,7 milioni rispetto ai $38,6 milioni nel Q4 2023. L'azienda ha riportato una perdita netta nel Q4 di $33,6 milioni ($0,60 per azione). Per l'intero anno 2024, la perdita netta è stata di $146,4 milioni ($2,77 per azione).
Guardando al futuro, Glaukos ha fornito una guida sulle vendite nette per il 2025 di $475-485 milioni. L'azienda mantiene una posizione finanziaria solida con circa $324 milioni in contante e investimenti, senza debiti.
Glaukos (NYSE: GKOS) informó sobre resultados financieros sólidos para el cuarto trimestre y el año completo 2024. La compañía logró ventas netas récord de $105,5 millones en el Q4, un aumento del 28% interanual, con ventas de glaucoma que alcanzaron $84,1 millones, un incremento del 39%. Las ventas netas del año completo 2024 crecieron un 22% a $383,5 millones.
El margen bruto del Q4 fue del 73% (82% no-GAAP), mientras que la pérdida operativa mejoró a $28,7 millones desde $38,6 millones en el Q4 de 2023. La compañía reportó una pérdida neta en el Q4 de $33,6 millones ($0,60 por acción). Para el año completo 2024, la pérdida neta fue de $146,4 millones ($2,77 por acción).
Mirando hacia adelante, Glaukos proporcionó una guía de ventas netas para 2025 de $475-485 millones. La compañía mantiene una sólida posición financiera con aproximadamente $324 millones en efectivo e inversiones, sin deudas.
Glaukos (NYSE: GKOS)는 2024년 4분기 및 전체 연도에 대한 강력한 재무 결과를 보고했습니다. 회사는 4분기 순매출 기록인 1억 5백5십만 달러를 달성했으며, 이는 전년 대비 28% 증가한 수치입니다. 녹내장 판매는 8천410만 달러에 달하며, 이는 39% 증가한 것입니다. 2024년 전체 연도 순매출은 22% 증가하여 3억 8천3백50만 달러에 이릅니다.
4분기 총 마진은 73% (비GAAP 기준 82%)였으며, 운영 손실은 2023년 4분기 3천860만 달러에서 2천870만 달러로 개선되었습니다. 회사는 4분기 순손실이 3천360만 달러 ($0.60 주당)이라고 보고했습니다. 2024년 전체 연도 순손실은 1억 4천640만 달러 ($2.77 주당)이었습니다.
앞을 내다보며, Glaukos는 2025년 순매출 가이드를 4억 7천5백만에서 4억 8천5백만 달러로 제시했습니다. 회사는 약 3억 2천4백만 달러의 현금 및 투자를 보유하고 있으며, 부채는 없습니다.
Glaukos (NYSE: GKOS) a annoncé de solides résultats financiers pour le quatrième trimestre et l'année entière 2024. L'entreprise a réalisé des ventes nettes record de 105,5 millions de dollars au Q4, en hausse de 28% par rapport à l'année précédente, avec des ventes de glaucome atteignant 84,1 millions de dollars, soit une augmentation de 39%. Les ventes nettes pour l'année entière 2024 ont augmenté de 22% pour atteindre 383,5 millions de dollars.
La marge brute du Q4 était de 73% (82% non-GAAP), tandis que la perte d'exploitation s'est améliorée à 28,7 millions de dollars contre 38,6 millions de dollars au Q4 2023. L'entreprise a signalé une perte nette de 33,6 millions de dollars au Q4 (0,60 dollar par action). Pour l'année entière 2024, la perte nette s'élevait à 146,4 millions de dollars (2,77 dollars par action).
En regardant vers l'avenir, Glaukos a fourni une prévision de ventes nettes pour 2025 de 475 à 485 millions de dollars. L'entreprise maintient une solide position financière avec environ 324 millions de dollars en espèces et investissements, sans dettes.
Glaukos (NYSE: GKOS) hat starke Finanzergebnisse für das 4. Quartal und das Gesamtjahr 2024 veröffentlicht. Das Unternehmen erzielte Rekordnettoumsätze von 105,5 Millionen Dollar im Q4, was einem Anstieg von 28% im Vergleich zum Vorjahr entspricht, während die Umsätze aus Glaukombehandlungen 84,1 Millionen Dollar erreichten, was einem Anstieg von 39% entspricht. Die Nettoumsätze für das Gesamtjahr 2024 stiegen um 22% auf 383,5 Millionen Dollar.
Die Bruttomarge im Q4 betrug 73% (82% non-GAAP), während sich der operative Verlust von 38,6 Millionen Dollar im Q4 2023 auf 28,7 Millionen Dollar verbesserte. Das Unternehmen berichtete über einen Nettverlust im Q4 von 33,6 Millionen Dollar (0,60 Dollar pro Aktie). Für das gesamte Jahr 2024 betrug der Nettverlust 146,4 Millionen Dollar (2,77 Dollar pro Aktie).
Für die Zukunft gab Glaukos eine Umsatzprognose für 2025 von 475-485 Millionen Dollar heraus. Das Unternehmen hat eine starke finanzielle Position mit etwa 324 Millionen Dollar in Bar und Investitionen, ohne Schulden.
- Record Q4 net sales of $105.5M (+28% YoY)
- Glaucoma sales grew 39% YoY to $84.1M in Q4
- Full year revenue increased 22% to $383.5M
- Strong cash position of $324M with zero debt
- Improved Q4 operating loss from $38.6M to $28.7M
- Q4 gross margin declined to 73% from 77% YoY
- SG&A expenses increased 9% in Q4 to $69.0M
- Net loss increased to $146.4M in 2024 from $134.7M in 2023
- Non-GAAP gross margin declined to 82% from 84% YoY
Insights
Glaukos's Q4 2024 results reveal a company executing exceptionally well on its commercial strategy, particularly in its core glaucoma segment. The 28% YoY revenue growth to $105.5M significantly outpaces the broader ophthalmology market, while the 39% growth in glaucoma sales to $84.1M demonstrates strong market penetration and adoption of their surgical devices.
The financial metrics show improving operational efficiency despite continued investment in growth. The reduction in operating losses from
The 2025 revenue guidance of
Several key metrics warrant attention:
- The reduction in R&D spending by
2% YoY while maintaining pipeline advancement suggests improved research efficiency - SG&A expense growth of
17% remains below revenue growth rate, indicating positive operating leverage - The impact of acquired IPR&D charges (
$14.2M in 2024) on non-GAAP results highlights continued investment in external innovation
The company's focus on "dropless platform technologies" positions it well in the evolving ophthalmology market, where patient compliance and treatment burden are significant challenges. The strong cash position provides strategic flexibility for both organic growth and potential M&A opportunities.
-
Record net sales of
$105.5 million 28% year-over-year. -
Glaucoma record net sales of
$84.1 million 39% year-over-year. -
Gross margin of approximately
73% and non-GAAP gross margin of approximately82% in Q4 2024. -
Net sales of
$383.5 million 22% year-over-year. -
Introduced 2025 net sales guidance of
$475 million $485 million
“Our record fourth quarter results cap off a successful year of global execution of our key commercial and development plans, leaving us well positioned to continue to drive the strong momentum in our business this year and beyond,” said Thomas Burns, Glaukos chairman and chief executive officer. “We continue to successfully advance our robust pipeline of novel, dropless platform technologies designed to meaningfully advance the standard of care and improve outcomes for patients suffering from chronic eye diseases.”
Fourth Quarter 2024 Financial Results
Net sales in the fourth quarter of 2024 of
Gross margin for the fourth quarter of 2024 was approximately
Selling, general and administrative (SG&A) expenses for the fourth quarter of 2024 increased
GAAP and non-GAAP research and development (R&D) expenses for the fourth quarter of 2024 decreased
Loss from operations in the fourth quarter of 2024 was
Net loss in the fourth quarter of 2024 was
Full Year 2024 Financial Results
Net sales in 2024 of
Gross margin for 2024 was approximately
SG&A expenses in 2024 increased
GAAP and non-GAAP R&D expenses in 2024 decreased
Loss from operations in 2024 was
Net loss in 2024 was
Included in non-GAAP loss from operations, non-GAAP net loss and non-GAAP EPS for 2024 and 2023 are acquired IPR&D charges of
The company ended the fourth quarter of 2024 with approximately
2025 Revenue Guidance
The company expects 2025 net sales to be in the range of
Webcast & Conference Call
The company will host a conference call and simultaneous webcast today at 1:30 p.m. PT (4:30 p.m. ET) to discuss the results and provide additional information about the company’s financial outlook. A link to the webcast is available on the company’s website at http://investors.glaukos.com. To participate in the conference call, please dial 888-210-2212 (
Quarterly Summary Document
The company has posted a document on its Investor Relations website under the “Financials & Filings – Quarterly Results” section titled “Quarterly Summary.” This Quarterly Summary document is designed to provide the investment community with a summarized and easily accessible reference document that details the key facts associated with the quarter, the state of the company’s business objectives and strategies and any forward statements or guidance the company may make. This document is provided alongside the company’s earnings press release and is designed to be read by investors before the regularly scheduled quarterly conference call. As such, today’s conference call will be in a format primarily consisting of a questions and answers session, during which Glaukos will address any queries investors have regarding the company’s results. It is the company’s goal that this format will make its quarterly earnings process more efficient and impactful for the investment community going forward.
About Glaukos
Glaukos (www.glaukos.com) is an ophthalmic pharmaceutical and medical technology company focused on developing and commercializing novel therapies for the treatment of glaucoma, corneal disorders and retinal diseases. Glaukos first developed Micro-Invasive Glaucoma Surgery (MIGS) as an alternative to the traditional glaucoma treatment paradigm, launching its first MIGS device commercially in 2012. In 2024, Glaukos commenced commercial launch activities for iDose® TR, a first-of-its-kind, long-duration, intracameral procedural pharmaceutical designed to deliver 24/7 glaucoma drug therapy inside the eye for extended periods of time. Glaukos also markets the only FDA-approved corneal cross-linking therapy utilizing a proprietary bio-activated pharmaceutical for the treatment of keratoconus, a rare corneal disorder. Glaukos continues to successfully develop and advance a robust pipeline of novel, dropless platform technologies designed to meaningfully advance the standard of care and improve outcomes for patients suffering from chronic eye diseases.
Forward-Looking Statements
This communication contains “forward-looking statements” within the meaning of federal securities laws. All statements other than statements of historical facts included in this press release that address activities, events or developments that we expect, believe or anticipate will or may occur in the future are forward-looking statements. These statements are based on management’s current expectations, assumptions, estimates and beliefs. Although we believe that we have a reasonable basis for forward-looking statements contained herein, we caution you that they are based on current expectations about future events affecting us and are subject to risks, uncertainties and factors relating to our operations and business environment, all of which are difficult to predict and many of which are beyond our control, that may cause our actual results to differ materially from those expressed or implied by forward-looking statements in this press release. These potential risks and uncertainties that could cause actual results to differ materially from those described in forward-looking statements include, without limitation, our ability to successfully commercialize our iDose TR therapy; the impact of general macroeconomic conditions including foreign currency fluctuations and future health crises on our business; our ability to continue to generate sales of our commercialized products and develop and commercialize additional products; our dependence on a limited number of third-party suppliers, some of which are single-source, for components of our products; the occurrence of a crippling accident, natural disaster, or other disruption at our primary facility, which may materially affect our manufacturing capacity and operations; securing or maintaining adequate coverage or reimbursement by third-party payors for procedures using the iStent, the iStent inject W, iAccess, iStent infinite, iDose TR, our corneal cross-linking products or other products in development, and our compliance with the requirements of participation in federal healthcare programs such as Medicare and Medicaid; our compliance with federal, state and foreign laws and regulations for the approval and sale and marketing of our products and of our manufacturing processes; the lengthy and expensive clinical trial process and the uncertainty of timing and outcomes from any particular clinical trial or regulatory approval processes; the risk of recalls or serious safety issues with our products and the uncertainty of patient outcomes; our ability to protect our information systems against cyber threats and cybersecurity incidents, and to comply with state, federal and foreign data privacy laws and regulations; our ability to protect, and the expense and time-consuming nature of protecting our intellectual property against third parties and competitors and the impact of any claims against us for infringement or misappropriation of third party intellectual property rights and any related litigation; and our ability to service our indebtedness. These and other known risks, uncertainties and factors are described in detail under the caption “Risk Factors” and elsewhere in our filings with the Securities and Exchange Commission (SEC), including in our Quarterly Report on Form 10-Q for the quarter ended September 30, 2024, which was filed with the SEC on November 5, 2024, and our Annual Report on Form 10-K for the year ended December 31, 2024, which is expected to be filed with the SEC by March 3, 2025. Our filings with the SEC are available in the Investor Section of our website at www.glaukos.com or at www.sec.gov. In addition, information about the risks and benefits of our products is available on our website at www.glaukos.com. All forward-looking statements included in this press release are expressly qualified in their entirety by the foregoing cautionary statements. You are cautioned not to place undue reliance on the forward-looking statements in this press release, which speak only as of the date hereof. We do not undertake any obligation to update, amend or clarify these forward-looking statements whether as a result of new information, future events or otherwise, except as may be required under applicable securities law.
Statement Regarding Use of Non-GAAP Financial Measures
To supplement the consolidated financial results prepared in accordance with Generally Accepted Accounting Principles ("GAAP"), the Company uses certain non-GAAP historical financial measures. Management makes adjustments to the GAAP measures for items (both charges and gains) that (a) do not reflect the core operational activities of the Company, (b) are commonly adjusted within the Company's industry to enhance comparability of the Company's financial results with those of its peer group, or (c) are inconsistent in amount or frequency between periods (albeit such items are monitored and controlled with equal diligence relative to core operations) (“Non-GAAP Purposes”). The Company uses the term "Non-GAAP" to exclude certain expenses, gains and losses to achieve the Non-GAAP Purposes, including external acquisition-related costs incurred to effect a business combination; amortization of intangible assets acquired in a business combination, asset purchase transaction or other contractual relationship; impairment of goodwill and intangible assets; certain in-process R&D charges; fair value adjustments to contingent consideration liabilities and pre-acquisition contingencies arising from a business combination; integration and transition costs related to business combinations; fair market value adjustments to inventories acquired in a business combination or asset purchase transaction; restructuring charges, duplicative operating expenses, or asset write-offs (or reversals) associated with exiting or significantly downsizing a business; unusual non-recurring expenses associated with inventory write-downs; gain or loss from the sale of a business; gain or loss on the mark-to-market adjustment, impairment, or sale of long-term investments; mark-to-market adjustments on derivative instruments that hedge income or expense exposures in a future period; significant legal litigation costs and/or settlement expenses or proceeds; legal and other associated expenses that are both unusual and significant related to governmental or internal inquiries; expenses, acceleration of amortization of debt issuance costs and gain or loss on debt extinguishment associated with the exchange or redemption of convertible senior notes; and significant discrete income and other tax adjustments related to transactions as well as changes in estimated acquisition-date tax effects associated with business combinations, and the impact from implementation of tax law changes and settlements. See “GAAP to Non-GAAP Reconciliations” for a reconciliation of each non-GAAP measure presented to the comparable GAAP financial measure.
In addition, in order to remove the impact of fluctuations in foreign currency exchange rates, the Company also presents certain net sales information on a constant currency basis, which represents the outcome that would have resulted had exchange rates in the current period been the same as the average exchange rates in effect in the comparable prior period. See “Reported Sales vs. Prior Periods” for a presentation of certain net sales information on a reported, GAAP and a constant currency basis.
| GLAUKOS CORPORATION | ||||||||||||||||
| CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS | ||||||||||||||||
| (unaudited) | ||||||||||||||||
| (in thousands, except per share amounts) | ||||||||||||||||
| Three Months Ended | Year Ended | |||||||||||||||
| December 31, | December 31, | |||||||||||||||
2024 |
2023 |
2024 |
2023 |
|||||||||||||
| Net sales | $ |
105,499 |
|
$ |
82,365 |
|
$ |
383,481 |
|
$ |
314,711 |
|
||||
| Cost of sales |
|
28,635 |
|
|
18,891 |
|
|
94,027 |
|
|
75,575 |
|
||||
| Gross profit |
|
76,864 |
|
|
63,474 |
|
|
289,454 |
|
|
239,136 |
|
||||
| Operating expenses: | ||||||||||||||||
| Selling, general and administrative |
|
69,003 |
|
|
63,034 |
|
|
261,166 |
|
|
224,068 |
|
||||
| Research and development |
|
36,527 |
|
|
37,062 |
|
|
136,425 |
|
|
138,768 |
|
||||
| Acquired in-process research and development |
|
- |
|
|
2,000 |
|
|
14,229 |
|
|
5,000 |
|
||||
| Total operating expenses |
|
105,530 |
|
|
102,096 |
|
|
411,820 |
|
|
367,836 |
|
||||
| Loss from operations |
|
(28,666 |
) |
|
(38,622 |
) |
|
(122,366 |
) |
|
(128,700 |
) |
||||
| Non-operating (expense) income : | ||||||||||||||||
| Interest income |
|
2,494 |
|
|
2,912 |
|
|
11,105 |
|
|
9,164 |
|
||||
| Interest expense |
|
(1,572 |
) |
|
(3,428 |
) |
|
(10,040 |
) |
|
(13,633 |
) |
||||
| Charges associated with convertible senior notes |
|
- |
|
|
- |
|
|
(18,012 |
) |
|
- |
|
||||
| Other (expense) income, net |
|
(5,950 |
) |
|
2,420 |
|
|
(6,288 |
) |
|
(558 |
) |
||||
| Total non-operating (expense) income |
|
(5,028 |
) |
|
1,904 |
|
|
(23,235 |
) |
|
(5,027 |
) |
||||
| Loss before taxes |
|
(33,694 |
) |
|
(36,718 |
) |
|
(145,601 |
) |
|
(133,727 |
) |
||||
| Income tax (benefit) provision |
|
(114 |
) |
|
61 |
|
|
771 |
|
|
934 |
|
||||
| Net loss | $ |
(33,580 |
) |
$ |
(36,779 |
) |
$ |
(146,372 |
) |
$ |
(134,661 |
) |
||||
| Basic and diluted net loss per share | $ |
(0.60 |
) |
$ |
(0.75 |
) |
$ |
(2.77 |
) |
$ |
(2.78 |
) |
||||
| Weighted-average shares outstanding used to compute basic and diluted net loss per share |
|
55,584 |
|
|
48,876 |
|
|
52,755 |
|
|
48,433 |
|
||||
| GLAUKOS CORPORATION | ||||||||
| CONDENSED CONSOLIDATED BALANCE SHEETS | ||||||||
| (in thousands, except par values) | ||||||||
| December 31, | December 31, | |||||||
2024 |
2023 |
|||||||
| (unaudited) | ||||||||
| Assets | ||||||||
| Current assets: | ||||||||
| Cash and cash equivalents | $ |
169,626 |
|
$ |
93,467 |
|
||
| Short-term investments |
|
149,289 |
|
|
201,964 |
|
||
| Accounts receivable, net |
|
60,744 |
|
|
39,850 |
|
||
| Inventory |
|
57,678 |
|
|
41,986 |
|
||
| Prepaid expenses and other current assets |
|
12,455 |
|
|
18,194 |
|
||
| Total current assets |
|
449,792 |
|
|
395,461 |
|
||
| Restricted cash |
|
4,733 |
|
|
5,856 |
|
||
| Property and equipment, net |
|
97,867 |
|
|
103,212 |
|
||
| Operating lease right-of-use asset |
|
30,254 |
|
|
27,146 |
|
||
| Finance lease right-of-use asset |
|
41,816 |
|
|
44,180 |
|
||
| Intangible assets, net |
|
263,445 |
|
|
282,956 |
|
||
| Goodwill |
|
66,134 |
|
|
66,134 |
|
||
| Deposits and other assets |
|
20,715 |
|
|
15,469 |
|
||
| Total assets | $ |
974,756 |
|
$ |
940,414 |
|
||
| Liabilities and stockholders' equity | ||||||||
| Current liabilities: | ||||||||
| Accounts payable | $ |
13,026 |
|
$ |
13,440 |
|
||
| Accrued liabilities |
|
62,099 |
|
|
60,574 |
|
||
| Total current liabilities |
|
75,125 |
|
|
74,014 |
|
||
| Convertible senior notes |
|
- |
|
|
282,773 |
|
||
| Operating lease liability |
|
33,936 |
|
|
30,427 |
|
||
| Finance lease liability |
|
69,463 |
|
|
70,538 |
|
||
| Deferred tax liability, net |
|
6,928 |
|
|
7,144 |
|
||
| Other liabilities |
|
22,373 |
|
|
13,752 |
|
||
| Total liabilities |
|
207,825 |
|
|
478,648 |
|
||
| Stockholders' equity: | ||||||||
| Preferred stock, |
|
- |
|
|
- |
|
||
| Common stock, |
|
56 |
|
|
49 |
|
||
| Additional paid-in capital |
|
1,509,831 |
|
|
1,059,751 |
|
||
| Accumulated other comprehensive income |
|
2,615 |
|
|
1,165 |
|
||
| Accumulated deficit |
|
(745,439 |
) |
|
(599,067 |
) |
||
| Less treasury stock (28 shares as of December 31, 2024 and 2023) |
|
(132 |
) |
|
(132 |
) |
||
| Total stockholders' equity |
|
766,931 |
|
|
461,766 |
|
||
| Total liabilities and stockholders' equity | $ |
974,756 |
|
$ |
940,414 |
|
||
| GLAUKOS CORPORATION | ||||||||||||||||||||||||
| GAAP to Non-GAAP Reconciliations | ||||||||||||||||||||||||
| (in thousands, except per share amounts and percentage data) | ||||||||||||||||||||||||
| (unaudited) | ||||||||||||||||||||||||
| Q4 2024 | Q4 2023 | |||||||||||||||||||||||
| GAAP | Adjustments | Non-GAAP | GAAP | Adjustments | Non-GAAP | |||||||||||||||||||
| Cost of sales | $ |
28,635 |
|
$ |
(9,972 |
) |
(a)(b) | $ |
18,663 |
|
$ |
18,891 |
|
$ |
(5,523 |
) |
(a) | $ |
13,368 |
|
||||
| Gross Margin |
|
72.9 |
% |
|
9.4 |
% |
|
82.3 |
% |
|
77.1 |
% |
|
6.7 |
% |
|
83.8 |
% |
||||||
| Operating expenses: | ||||||||||||||||||||||||
| Selling, general and administrative | $ |
69,003 |
|
$ |
(411 |
) |
(c) | $ |
68,592 |
|
$ |
63,034 |
|
$ |
(705 |
) |
(c) | $ |
62,329 |
|
||||
| Loss from operations | $ |
(28,666 |
) |
$ |
10,383 |
|
$ |
(18,283 |
) |
$ |
(38,622 |
) |
$ |
6,228 |
|
$ |
(32,394 |
) |
||||||
| Non-operating (expense) income: | ||||||||||||||||||||||||
| Other (expense) income, net | $ |
(5,950 |
) |
$ |
951 |
|
(d) | $ |
(4,999 |
) |
$ |
2,420 |
|
$ |
- |
|
$ |
2,420 |
|
|||||
| Net loss | $ |
(33,580 |
) |
$ |
11,334 |
|
(e) | $ |
(22,246 |
) |
$ |
(36,779 |
) |
$ |
6,228 |
|
(e) | $ |
(30,551 |
) |
||||
| Basic and diluted net loss per share | $ |
(0.60 |
) |
$ |
0.20 |
|
$ |
(0.40 |
) |
$ |
(0.75 |
) |
$ |
0.12 |
|
$ |
(0.63 |
) |
||||||
(a) |
Cost of sales adjustment related to amortization of developed technology intangible assets associated with the acquisition of Avedro, Inc. (Avedro) of |
|
(b) |
Inventory write-down charge associated with product line optimizations of |
|
(c) |
Avedro acquisition-related amortization expense of customer relationship intangible assets of |
|
(d) |
Remeasurement loss on derivative asset and direct transaction costs associated with the capped call unwind agreements. | |
(e) |
Includes total tax effect for non-GAAP pre-tax adjustments. For non-GAAP adjustments associated with the |
| GLAUKOS CORPORATION | ||||||||||||||||||||||||
| GAAP to Non-GAAP Reconciliations | ||||||||||||||||||||||||
| (in thousands, except per share amounts and percentage data) | ||||||||||||||||||||||||
| (unaudited) | ||||||||||||||||||||||||
| Full Year 2024 | Full Year 2023 | |||||||||||||||||||||||
| GAAP | Adjustments | Non-GAAP | GAAP | Adjustments | Non-GAAP | |||||||||||||||||||
| Cost of sales | $ |
94,027 |
|
$ |
(26,541 |
) |
(a)(b) | $ |
67,486 |
|
$ |
75,575 |
|
$ |
(22,092 |
) |
(a) | $ |
53,483 |
|
||||
| Gross Margin |
|
75.5 |
% |
|
6.9 |
% |
|
82.4 |
% |
|
76.0 |
% |
|
7.0 |
% |
|
83.0 |
% |
||||||
| Operating expenses: | ||||||||||||||||||||||||
| Selling, general and administrative | $ |
261,166 |
|
$ |
(2,526 |
) |
(c) | $ |
258,640 |
|
$ |
224,068 |
|
$ |
(2,820 |
) |
(c) | $ |
221,248 |
|
||||
| Loss from operations | $ |
(122,366 |
) |
$ |
29,067 |
|
$ |
(93,299 |
) |
$ |
(128,700 |
) |
$ |
24,912 |
|
$ |
(103,788 |
) |
||||||
| Non-operating expense: | ||||||||||||||||||||||||
| Charges associated with convertible senior notes | $ |
(18,012 |
) |
$ |
18,012 |
|
(d) | $ |
- |
|
$ |
- |
|
$ |
- |
|
$ |
- |
|
|||||
| Other expense, net | $ |
(6,288 |
) |
$ |
951 |
|
(e) | $ |
(5,337 |
) |
$ |
(558 |
) |
$ |
- |
|
$ |
(558 |
) |
|||||
| Net loss | $ |
(146,372 |
) |
$ |
48,030 |
|
(f) | $ |
(98,342 |
) |
$ |
(134,661 |
) |
$ |
24,912 |
|
(f) | $ |
(109,749 |
) |
||||
| Basic and diluted net loss per share | $ |
(2.77 |
) |
$ |
0.91 |
|
$ |
(1.86 |
) |
$ |
(2.78 |
) |
$ |
0.51 |
|
$ |
(2.27 |
) |
||||||
(a) |
Cost of sales adjustment related to amortization of developed technology intangible assets associated with the acquisition of Avedro, Inc. (Avedro) of |
|
(b) |
Inventory write-down charge associated with product line optimizations of |
|
(c) |
Avedro acquisition-related amortization expense of customer relationship intangible assets of |
|
(d) |
Expenses associated with the exchange of convertible senior notes, consisting of a non-cash inducement charge of |
|
(e) |
Remeasurement loss on derivative asset and direct transaction costs associated with the capped call unwind agreements. | |
(f) |
Includes total tax effect for non-GAAP pre-tax adjustments. For non-GAAP adjustments associated with the |
| Reported Sales vs. Prior Periods (in thousands) | ||||||||||||||||||||||
| Year-over-Year Percent Change | Quarter-over-Quarter Percent Change | |||||||||||||||||||||
4Q 2024 |
4Q 2023 |
3Q 2024 |
Reported | Operations (1) | Currency (2) | Reported | Operations (1) | Currency (2) | ||||||||||||||
| International Glaucoma | $ |
27,869 |
$ |
21,857 |
$ |
24,467 |
27.5 |
% |
28.7 |
% |
(1.2 |
%) |
13.9 |
% |
16.4 |
% |
(2.5 |
%) |
||||
| Total Net Sales | $ |
105,499 |
$ |
82,365 |
$ |
96,670 |
28.1 |
% |
28.4 |
% |
(0.3 |
%) |
9.1 |
% |
9.8 |
% |
(0.7 |
%) |
||||
| (1) Operational growth excludes the effect of translational currency | ||||||||||||||||||||||
| (2) Calculated by converting the current period numbers using the prior period’s average foreign exchange rates | ||||||||||||||||||||||
| Reported Sales vs. Prior Periods (in thousands) | |||||||||||||
| Year-over-Year Percent Change | |||||||||||||
2024 |
2023 |
Reported | Operations (1) | Currency (2) | |||||||||
| International Glaucoma | $ |
103,705 |
$ |
85,560 |
21.2 |
% |
23.0 |
% |
(1.8 |
%) |
|||
| Total Net Sales | $ |
383,481 |
$ |
314,711 |
21.9 |
% |
22.4 |
% |
(0.5 |
%) |
|||
| (1) Operational growth excludes the effect of translational currency | |||||||||||||
| (2) Calculated by converting the current period numbers using the prior period’s average foreign exchange rates | |||||||||||||
View source version on businesswire.com: https://www.businesswire.com/news/home/20250220455154/en/
Chris Lewis
Vice President, Investor Relations & Corporate Affairs
(949) 481-0510
clewis@glaukos.com
Source: Glaukos Corporation
FAQ
What was Glaukos (GKOS) Q4 2024 revenue growth?
What is Glaukos (GKOS) revenue guidance for 2025?
How much cash does Glaukos (GKOS) have on its balance sheet?
What was Glaukos (GKOS) net loss per share in 2024?
How much did Glaukos (GKOS) glaucoma sales grow in Q4 2024?
