Glaukos (GKOS) AI Stock Analysis

• Market Cap: $4.62B
• Dividend Yield: N/A
• Average Volume (3M): 801.24K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.99
• Revenue Growth: 26.70%
• EPS Growth: 48.19%
• Country: US
• Employees: 995
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Devices
• EPS (TTM): -0.24
• Shares Outstanding: 57,349,987
• 10 Day Avg. Volume: 813,242
• 30 Day Avg. Volume: 801,240
• PEG Ratio: 150.23
• Price to Book (P/B): 10.31
• Price to Sales (P/S): 20.63
• P/FCF Ratio: -116.98
• Enterprise Value/Market Cap: 1.24
• Enterprise Value/Revenue: 13.26
• Enterprise Value/Gross Profit: 17.36
• Enterprise Value/Ebitda: -92.29
• 1Y Price Target: $124.50
• Price Target Upside: 45.04% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 11

• Rating: 52 Neutral
• Price Target: $93.00 ▲(8.34% Upside)

Glaukos's overall stock score is driven by strong revenue growth and strategic advancements, as highlighted in the earnings call. However, significant profitability challenges and valuation concerns due to negative earnings and lack of dividends weigh heavily on the score. Technical indicators suggest a neutral market position, further balancing the overall assessment.

Positive Factors

Revenue Growth

Strong revenue growth indicates successful market penetration and product adoption, which supports long-term business expansion.

Innovation and Product Development

Continued innovation in product development enhances competitive advantage and positions Glaukos as a leader in ophthalmic solutions.

Strong Financial Position

Maintaining a strong cash position provides financial flexibility for strategic investments and operational stability.

Negative Factors

Profitability Challenges

Ongoing profitability issues can hinder long-term growth and limit the ability to reinvest in business development.

Regulatory and Reimbursement Risks

Regulatory changes and reimbursement reductions could negatively impact revenue and profitability in key markets.

Corneal Health Franchise Challenges

Challenges in the Corneal Health franchise may affect revenue diversification and growth potential in this segment.

Glaukos Business Overview & Revenue Model

Company Description

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 inject W micro-bypass stents that enhance aqueous humor outflow inserted in cataract surgery to treat mild-to-moderate open-angle glaucoma. The company's product pipeline includes iStent Infinite, a three stents product that is designed for use as a standalone procedure in patients with refractory glaucoma; and iDose TR, a targeted injectable implant based on its micro-scale device-platform that is designed to deliver therapeutic levels of medication. The company markets its products through direct sales organization, as well as through distributors in the United States and internationally. Glaukos Corporation was incorporated in 1998 and is headquartered in San Clemente, California.

How the Company Makes Money

Glaukos generates revenue primarily through the sale of its surgical devices and related products for the treatment of glaucoma. The company's key revenue streams include the direct sales of its iStent and iStent inject devices, as well as revenue from related consumables and accessories. Glaukos also benefits from strategic partnerships with ophthalmology clinics and hospitals, which help to expand its market reach and distribution capabilities. Additionally, the company may explore partnerships with other healthcare organizations for product development, clinical studies, and co-marketing agreements, contributing to its overall revenue growth. As the prevalence of glaucoma and the demand for innovative treatment options increase, Glaukos is positioned to capitalize on these trends within the ophthalmic market.

Glaukos Financial Statement Overview

Summary

Glaukos shows strong revenue growth and a solid balance sheet with low leverage, but persistent losses and negative cash flows pose significant challenges, particularly in achieving profitability and enhancing cash flow generation.

Income Statement

Glaukos' income statement shows a consistent increase in revenue over the years, with a TTM revenue growth rate of 5.49%, indicating positive sales momentum. However, the company has struggled with profitability, reflected in negative EBIT and net profit margins. The TTM gross profit margin is healthy at 75.74%, but the persistent negative EBIT margin (-25.07%) and the negative net profit margin (-30.57%) highlight ongoing challenges in managing operational expenses and achieving profitability.

Balance Sheet

The balance sheet of Glaukos displays a strong equity base with an equity ratio of 79.07%, indicating a solid foundation and low reliance on debt financing. The company maintains a manageable debt-to-equity ratio of 0.14, suggesting low financial risk from leverage. However, the negative return on equity (-16.19%) reflects the company's inability to generate positive returns for shareholders due to ongoing losses.

Cash Flow

Glaukos faces challenges with cash flow generation, as evidenced by negative free cash flow in recent periods. The TTM free cash flow growth rate shows improvement at 21.29%, but both operating cash flow to net income and free cash flow to net income ratios are negative, indicating issues in converting earnings into cash flow. This highlights potential liquidity concerns if the negative trend persists.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	432.95M	383.48M	314.71M	282.86M	294.01M	224.96M
Gross Profit	330.52M	289.45M	239.14M	213.88M	227.38M	133.24M
EBITDA	-62.19M	-77.63M	-82.12M	-48.76M	-1.47M	-83.59M
Net Income	-92.79M	-146.37M	-134.66M	-99.19M	-49.59M	-120.35M
Balance Sheet
Total Assets	986.96M	974.76M	940.41M	1.00B	1.05B	1.01B
Cash, Cash Equivalents and Short-Term Investments	274.79M	318.92M	295.43M	352.69M	414.05M	404.37M
Total Debt	105.02M	103.40M	383.74M	382.48M	382.38M	270.81M
Total Liabilities	221.85M	207.82M	478.65M	472.38M	462.55M	338.05M
Stockholders Equity	765.11M	766.93M	461.77M	530.00M	587.15M	667.45M
Cash Flow
Free Cash Flow	-26.92M	-67.62M	-78.01M	-63.35M	-23.08M	-29.92M
Operating Cash Flow	-20.62M	-61.32M	-57.76M	-33.08M	24.71M	-22.99M
Investing Cash Flow	-15.38M	47.83M	14.10M	44.78M	-58.23M	-205.06M
Financing Cash Flow	73.98M	91.54M	15.04M	6.25M	39.26M	262.54M

Glaukos Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 85.84
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GKOS, the sentiment is Negative. The current price of 85.84 is below the 20-day moving average (MA) of 90.29, below the 50-day MA of 92.35, and below the 200-day MA of 111.29, indicating a bearish trend. The MACD of -2.61 indicates Positive momentum. The RSI at 34.99 is Neutral, neither overbought nor oversold. The STOCH value of 7.95 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GKOS.

Glaukos Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
UFPT	73 Outperform	1.58B	23.37	17.21%	―	40.98%	34.80%
IRTC	66 Neutral	5.53B	-60.08	-89.17%	―	22.37%	31.14%
ITGR	65 Neutral	3.60B	45.95	4.85%	―	7.21%	-23.29%
LIVN	61 Neutral	2.98B	-14.36	-18.82%	―	8.57%	-1154.64%
GKOS	52 Neutral	$4.62B	―	-12.98%	―	26.70%	48.19%
TNDM	49 Neutral	823.00M	-4.28	-154.15%	―	25.84%	-47.67%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%

Glaukos Corporate Events

Glaukos Highlights Innovation in Recent Investor Presentation

Glaukos Corporation’s recent investor presentation highlights its strategic focus on innovation and commercial excellence, aiming to improve standards of care in ophthalmology. The company is advancing its iDose TR therapy, a groundbreaking sustained-release drug delivery system for glaucoma, which is expected to enhance patient compliance and outcomes by reducing reliance on traditional topical medications.

Glaukos Reports Record Q2 Sales, Raises 2025 Guidance

On July 30, 2025, Glaukos Corporation announced its financial results for the second quarter ended June 30, 2025, reporting record net sales of $124.1 million, a 30% increase year-over-year. The company also raised its 2025 net sales guidance, reflecting strong growth driven by strategic execution and advancements in its pipeline of novel, dropless platform technologies aimed at improving patient outcomes in chronic eye diseases.