Glaukos (GKOS) AI Stock Analysis

• Market Cap: $6.23B
• Dividend Yield: N/A
• Average Volume (3M): 1.26M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.17
• Revenue Growth: 30.38%
• EPS Growth: 47.64%
• Country: US
• Employees: 995
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Devices
• EPS (TTM): -0.16
• Shares Outstanding: 57,434,740
• 10 Day Avg. Volume: 694,832
• 30 Day Avg. Volume: 1,262,649
• 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: 0.72
• Enterprise Value/Revenue: 9.60
• Enterprise Value/Gross Profit: 12.49
• Enterprise Value/Ebitda: -116.09
• 1Y Price Target: $118.10
• Price Target Upside: 10.51% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 12
• EPS Forecast (FY): -0.82
• Revenue Forecast (FY): $493.74M

• Rating: 61 Neutral
• Price Target: $105.00 ▼(-1.75% Downside)

Glaukos's strong sales growth and strategic product developments are significant positives. However, profitability challenges and valuation concerns weigh on the overall score. The technical indicators suggest bullish momentum, but caution is advised due to overbought signals.

Positive Factors

Revenue Growth

Strong revenue growth indicates robust demand for Glaukos's products, enhancing its market position and supporting future expansion.

Product Innovation

FDA approval of Epioxa strengthens Glaukos's product portfolio, potentially increasing market share and driving long-term revenue growth.

Strategic Focus

Commitment to innovation and strategic focus on commercial excellence positions Glaukos for sustained competitive advantage in the ophthalmic sector.

Negative Factors

Profitability Challenges

Persistent profitability issues may hinder Glaukos's ability to reinvest in growth and innovation, impacting long-term financial health.

Cash Flow Constraints

Operational cash constraints can limit Glaukos's ability to fund new projects and manage financial obligations, affecting sustainability.

Market Access Challenges

Market access challenges for new products like Epioxa could delay revenue realization and affect Glaukos's competitive positioning.

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 medical devices and surgical products for the treatment of glaucoma. The company's key revenue streams include direct sales of its iStent and iStent inject devices, which are used in minimally invasive surgical procedures. Additionally, Glaukos may receive revenue from partnerships and collaborations with healthcare providers and institutions that utilize its products in clinical settings. The company benefits from a growing patient population with glaucoma and increased adoption of MIGS procedures, which contributes to its earnings. Strategic partnerships with ophthalmic practices and health systems also play a significant role in expanding its market presence and driving sales.

Glaukos Financial Statement Overview

Summary

Glaukos shows potential with revenue growth and a strong gross profit margin. However, profitability issues and negative cash flow highlight significant operational inefficiencies and cash constraints.

Income Statement

Glaukos shows a positive revenue growth trend with a TTM growth rate of 8.52%, indicating potential market expansion. However, the company struggles with profitability, as evidenced by negative net profit and EBIT margins. The gross profit margin remains strong at 76.87%, but the persistent negative net income highlights challenges in cost management and operational efficiency.

Balance Sheet

The balance sheet reflects a stable financial structure with a low debt-to-equity ratio of 0.14, suggesting manageable leverage. However, the negative return on equity indicates inefficiencies in generating profits from shareholders' investments. The equity ratio of 76.98% shows a strong equity base, providing a cushion against financial volatility.

Cash Flow

Cash flow analysis reveals a challenging scenario with negative operating cash flow, indicating operational cash constraints. Despite a positive free cash flow growth rate, the company struggles to convert net income into cash, as shown by the negative operating cash flow to net income ratio. The free cash flow to net income ratio above 1 suggests reliance on non-operational cash inflows.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	469.82M	383.48M	314.71M	282.86M	294.01M	224.96M
Gross Profit	361.14M	289.45M	239.14M	213.88M	227.38M	133.24M
EBITDA	-38.86M	-95.64M	-82.12M	-48.76M	-1.47M	-83.59M
Net Income	-87.61M	-146.37M	-134.66M	-99.19M	-49.59M	-120.35M
Balance Sheet
Total Assets	999.38M	974.76M	940.41M	1.07B	1.13B	1.01B
Cash, Cash Equivalents and Short-Term Investments	273.71M	318.92M	295.43M	352.69M	414.05M	404.37M
Total Debt	104.31M	105.87M	383.74M	382.91M	383.38M	272.00M
Total Liabilities	229.84M	207.82M	478.65M	544.16M	541.68M	338.05M
Stockholders Equity	769.54M	766.93M	461.77M	530.00M	587.15M	667.45M
Cash Flow
Free Cash Flow	-27.61M	-67.62M	-78.01M	-63.35M	-23.08M	-29.92M
Operating Cash Flow	-21.13M	-61.32M	-57.76M	-33.08M	24.71M	-22.99M
Investing Cash Flow	-49.94M	47.83M	14.10M	44.78M	-58.23M	-205.06M
Financing Cash Flow	69.57M	91.54M	15.04M	6.25M	39.26M	262.54M

Glaukos Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 106.87
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GKOS, the sentiment is Positive. The current price of 106.87 is above the 20-day moving average (MA) of 99.18, above the 50-day MA of 89.35, and above the 200-day MA of 93.85, indicating a bullish trend. The MACD of 6.03 indicates Negative momentum. The RSI at 73.33 is Negative, neither overbought nor oversold. The STOCH value of 81.31 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GKOS.

Glaukos Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
UFPT	75 Outperform	$1.67B	25.01	18.31%	―	29.47%	23.24%
ITGR	65 Neutral	$2.45B	29.24	5.18%	―	7.81%	-26.32%
LIVN	63 Neutral	$3.46B	―	-17.63%	―	8.97%	-1024.86%
GKOS	61 Neutral	$6.23B	―	-12.19%	―	30.38%	47.64%
TNDM	61 Neutral	$1.42B	―	-109.73%	―	17.87%	-57.03%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
IRTC	51 Neutral	$5.75B	―	-53.15%	―	25.45%	66.62%

Glaukos Corporate Events

Glaukos Highlights Innovation in November 2025 Presentation

Glaukos Corporation has announced its November 2025 Investor Presentation, highlighting its commitment to innovation in chronic eye disease treatments. The company emphasizes its strategic focus on commercial excellence and the development of groundbreaking therapies like the iDose TR, which aims to improve patient compliance and outcomes in glaucoma treatment. The presentation underscores Glaukos’s efforts to expand its market presence and enhance its product offerings, which could significantly impact its operations and industry positioning.

Glaukos Reports Record Q3 2025 Sales Growth

In its third quarter of 2025, Glaukos reported record net sales of $133.5 million, marking a 38% increase year-over-year. The company raised its 2025 net sales guidance and introduced preliminary 2026 guidance, reflecting strong business momentum and strategic execution. Despite a net loss, the company showed improved financial performance compared to the previous year, with increased sales, gross margins, and reduced operating losses.