Glaukos (GKOS) AI Stock Analysis

• Market Cap: $5.58B
• Dividend Yield: N/A
• Average Volume (3M): 823.40K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.09
• Revenue Growth: 23.92%
• EPS Growth: 19.82%
• Country: US
• Employees: 995
• Sector: Healthcare
• Sector Strength: 58
• Industry: Medical - Devices
• EPS (TTM): -0.22
• Shares Outstanding: 57,140,526
• 10 Day Avg. Volume: 859,635
• 30 Day Avg. Volume: 823,405
• PEG Ratio: -0.22
• Price to Book (P/B): 3.91
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -32.71
• Enterprise Value/Market Cap: 0.42
• Enterprise Value/Revenue: 1.57
• Enterprise Value/Gross Profit: 7.62
• Enterprise Value/Ebitda: -6.44
• 1Y Price Target: $125.50
• Price Target Upside: 28.59% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 11

• Rating: 55 Neutral
• Price Target: $97.00 ▼(-0.61%Downside)

Glaukos demonstrates strong revenue growth and a robust strategic direction, but faces challenges with profitability and cash flow. Mixed technical signals and negative valuation metrics suggest caution, despite positive guidance and a strong financial position highlighted in the earnings call.

Positive Factors

Financial Performance

The long-term growth trajectory of Glaukos is supported by the compelling iDose story and durable margin profile.

Innovation in Glaucoma Treatment

GKOS highlighted the continued progress of shifting the glaucoma treatment paradigm toward interventional glaucoma, which has been widely accepted from a clinical practice perspective.

Revenue Growth

First-quarter sales were above Street estimates, driven primarily by iDose and international glaucoma.

Negative Factors

Coverage Determination Impact

Management lowered its expectations for a recovery in its core MIGS franchise due to the headwinds associated with the recently implemented local coverage determination.

Market Access Challenges

GKOS has limited access to the other portion of FFS patients as iDose pro fees have not been published yet for the remaining MACs.

Glaukos Business Overview & Revenue Model

Company Description

Glaukos Corporation (GKOS) is a medical technology and pharmaceutical company focused on developing and commercializing products to transform the treatment of chronic eye diseases. The company specializes in products and therapies for the treatment of glaucoma, corneal disorders, and retinal diseases. Glaukos is known for pioneering Micro-Invasive Glaucoma Surgery (MIGS) devices, such as the iStent, designed to lower intraocular pressure in glaucoma patients.

How the Company Makes Money

Glaukos makes money primarily through the sales of its medical devices and pharmaceutical products. Its key revenue stream is the sale of MIGS devices, notably the iStent, which is widely used by ophthalmologists to treat glaucoma. Additionally, the company generates revenue from its corneal health and retinal disease product lines, which include various procedures and treatments. Glaukos also engages in strategic partnerships and collaborations with other companies and research institutions, which can contribute to its revenue through joint development and commercialization efforts. The company invests heavily in research and development to innovate and expand its product offerings, which is crucial for maintaining and growing its market presence.

Glaukos Financial Statement Overview

Summary

Glaukos shows strong revenue growth and a solid balance sheet with low leverage, but faces challenges with persistent losses and negative cash flows, impacting profitability.

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
404.52M	383.48M	314.71M	282.86M	294.01M	224.96M
	Gross Profit
306.44M	289.45M	239.14M	213.88M	227.38M	133.24M
	EBIT
-101.48M	-122.37M	-128.70M	-102.31M	-62.87M	-123.55M
	EBITDA
-83.53M	-77.63M	-82.12M	-48.76M	-1.47M	-83.59M
	Net Income Common Stockholders
-123.68M	-146.37M	-134.66M	-99.19M	-49.59M	-120.35M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
298.70M	318.92M	295.43M	352.69M	414.05M	404.37M
	Total Assets
966.18M	974.76M	940.41M	1.00B	1.05B	1.01B
	Total Debt
105.48M	103.40M	383.74M	382.48M	382.38M	270.81M
	Net Debt
-8.77M	-66.23M	290.27M	262.95M	281.67M	174.21M
	Total Liabilities
202.22M	207.82M	478.65M	472.38M	462.55M	338.05M
	Stockholders Equity
763.96M	766.93M	461.77M	530.00M	587.15M	667.45M
Cash Flow		Free Cash Flow
-53.24M	-67.62M	-78.01M	-63.35M	-23.08M	-29.92M
	Operating Cash Flow
-45.97M	-61.32M	-57.76M	-33.08M	24.71M	-22.99M
	Investing Cash Flow
40.27M	47.83M	14.10M	44.78M	-58.23M	-205.06M
	Financing Cash Flow
80.32M	91.54M	15.04M	6.25M	39.26M	262.54M

Glaukos Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 97.60
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

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 97.6 is above the 20-day moving average (MA) of 95.42, above the 50-day MA of 92.32, and below the 200-day MA of 123.59, indicating a neutral trend. The MACD of 0.81 indicates Negative momentum. The RSI at 56.36 is Neutral, neither overbought nor oversold. The STOCH value of 61.88 is Neutral, 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
ITGR	73 Outperform	$4.13B	56.13	4.98%	―	7.41%	-22.10%
INSP	67 Neutral	$3.75B	58.61	10.86%	―	27.11%	―
LIVN	66 Neutral	$2.50B	30.62	-19.69%	―	7.97%	-592.40%
IRTC	64 Neutral	$4.59B	―	-111.13%	―	20.54%	25.73%
PRCT	60 Neutral	$3.35B	―	-27.62%	―	59.36%	19.87%
GKOS	55 Neutral	$5.58B	―	-20.36%	―	23.92%	19.82%
Sector *	54 Neutral	$5.37B	3.26	-45.10%	3.30%	16.81%	0.02%

Glaukos Corporate Events

Glaukos Stockholders Approve Key Proposals at Annual Meeting

On May 29, 2025, Glaukos Corporation held its annual meeting of stockholders, where three key proposals were voted on. The election of three Class I directors, approval of executive compensation, and ratification of Ernst & Young LLP as the independent auditor for 2025 were all passed, reflecting strong shareholder support and setting the stage for continued corporate governance and financial oversight.

The most recent analyst rating on (GKOS) stock is a Buy with a $131.00 price target. To see the full list of analyst forecasts on Glaukos stock, see the GKOS Stock Forecast page.

Glaukos Highlights Innovation in May 2025 Presentation

Glaukos Corporation announced its May 2025 Investor Presentation, highlighting its commitment to innovation in treating chronic eye diseases. The company has invested over $700 million in R&D since 2018 and expanded its pipeline from 4 to 14 programs by 2025. The presentation emphasized the iDose TR, a groundbreaking sustained-release drug delivery system designed to improve patient compliance in glaucoma treatment. Glaukos aims to disrupt traditional treatment paradigms with its novel therapies, focusing on establishing robust growth engines and expanding market access.

The most recent analyst rating on (GKOS) stock is a Buy with a $131.00 price target. To see the full list of analyst forecasts on Glaukos stock, see the GKOS Stock Forecast page.

Glaukos Reports Record Q1 2025 Net Sales Growth

Glaukos Corporation announced its financial results for the first quarter of 2025, reporting record net sales of $106.7 million, a 25% increase from the previous year. The company reaffirmed its 2025 net sales guidance and highlighted its strong start to the year, driven by successful execution of strategic plans and advancements in its pipeline of novel technologies.