Glaukos (GKOS) AI Stock Analysis

• Market Cap: $5.61B
• Dividend Yield: N/A
• Average Volume (3M): 835.08K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.07
• Revenue Growth: 23.92%
• EPS Growth: 19.82%
• Country: US
• Employees: 995
• Sector: Healthcare
• Sector Strength: 44
• Industry: Medical - Devices
• EPS (TTM): -0.22
• Shares Outstanding: 57,140,526
• 10 Day Avg. Volume: 651,345
• 30 Day Avg. Volume: 835,075
• PEG Ratio: -2.53
• Price to Book (P/B): 7.29
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -105.47
• Enterprise Value/Market Cap: 1.00
• Enterprise Value/Revenue: 3.76
• Enterprise Value/Gross Profit: 18.29
• Enterprise Value/Ebitda: -15.45
• 1Y Price Target: $127.09
• Price Target Upside: 28.37% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 12

• Rating: 54 Neutral
• Price Target: $100.00 ▲(1.01%Upside)

Glaukos' overall score reflects its strong revenue growth and a solid financial position as key strengths, while ongoing profitability and cash flow challenges weigh heavily. Technical indicators suggest a neutral trend, and valuation remains unattractive due to negative earnings. Recent corporate events and pipeline advancements provide some positive outlook.

Positive Factors

Market Opportunity

The first-mover advantage in corneal cross-linking therapy with iLink, utilized in over 60,000 U.S. procedures, provides significant market opportunity for Glaukos.

Product Launch

Epioxa, a next-generation CXL therapy, represents an opportunity for Glaukos to create a commercial market from a fresh slate, leveraging its expertise.

Negative Factors

Market Access

Glaukos has limited access to approximately 55-60% of FFS patients covered by the remaining MACs, as iDose professional fees have not been published yet.

Price Target

Analyst reiterates Buy rating but lowers the price target to $115 due to lower peer multiples.

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 persistent losses and negative cash flows highlight challenges in profitability and liquidity. The positive revenue trends are offset by negative EBIT and net profit margins.

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

Glaukos Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 99.00
• 50DMA: Positive
• 100DMA: Positive
• 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 99 is below the 20-day moving average (MA) of 101.66, above the 50-day MA of 97.35, and below the 200-day MA of 120.62, indicating a neutral trend. The MACD of 0.90 indicates Positive momentum. The RSI at 47.00 is Neutral, neither overbought nor oversold. The STOCH value of 9.68 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
ITGR	71 Outperform	$4.10B	55.58	4.98%	―	7.41%	-22.10%
INSP	67 Neutral	$3.78B	58.76	10.86%	―	27.11%	―
LIVN	61 Neutral	$2.37B	30.62	-19.69%	―	7.97%	-592.40%
PRCT	56 Neutral	$3.21B	―	-27.62%	―	59.36%	19.87%
GKOS	54 Neutral	$5.61B	―	-20.36%	―	23.92%	19.82%
Sector *	46 Neutral	C$197.02M	-3.33	-23.14%	2.65%	20.75%	-0.36%
IRTC	46 Neutral	$4.28B	―	-111.13%	―	20.54%	25.73%

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.