$GKOS

GLAUKOS Corp

CIK:0001192448|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
Net sales	$ 185,610	$ 124,120	$ 336,181	$ 230,784
Cost of sales	34,016	26,896	67,355	51,212
Gross profit	151,594	97,224	268,826	179,572
Operating expenses:
Selling, general and administrative	116,060	83,375	209,003	154,048
Research and development	51,301	36,538	95,446	68,891
Acquired in-process research and development	1,500	0	1,500	0
Total operating expenses	168,861	119,913	305,949	222,939
Loss from operations	(17,267)	(22,689)	(37,123)	(43,367)
Non-operating income (expense):
Interest income	2,279	2,574	4,710	5,650
Interest expense	(1,459)	(1,151)	(2,584)	(2,314)
Other (expense) income, net	(1,274)	1,857	(2,023)	2,802
Total non-operating (expense) income	(454)	3,280	103	6,138
Loss before taxes	(17,721)	(19,409)	(37,020)	(37,229)
Income tax provision	656	248	1,140	574
Net loss	$ (18,377)	$ (19,657)	$ (38,160)	$ (37,803)
Basic net loss per share (in dollar per share)	$ (0.31)	$ (0.34)	$ (0.65)	$ (0.66)
Diluted net loss per share (in dollar per share)	$ (0.31)	$ (0.34)	$ (0.65)	$ (0.66)
Weighted average shares outstanding used to compute basic net loss per share	58,818	57,205	58,419	56,922
Weighted average shares outstanding used to compute diluted net loss per share	58,818	57,205	58,419	56,922

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Operating Activities
Net loss	$ (38,160)	$ (37,803)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation	5,902	5,376
Amortization of intangible assets	14,765	11,420
Amortization of right-of-use lease assets	2,357	2,133
Deferred income tax benefit	0	(18)
Loss on disposal of fixed assets	246	11
Stock-based compensation	48,009	31,005
Unrealized foreign currency loss	1,610	3,883
Amortization of premium on short-term investments	(320)	(2,199)
Other liabilities	694	815
Allowance for doubtful accounts	986	4,067
Provision for excess and obsolete inventory	1,234	0
Changes in operating assets and liabilities:
Accounts receivable	(31,912)	(23,984)
Inventory	2,385	(4,399)
Prepaid expenses and other current assets	(7,401)	(919)
Accounts payable and accrued liabilities	2,195	(113)
Other assets	(293)	(817)
Net cash provided by (used in) operating activities	2,297	(11,542)
Investing activities
Purchases of short-term investments	(66,847)	(116,765)
Proceeds from sales and maturities of short-term investments	82,629	94,411
Purchases of property and equipment	(6,697)	(3,117)
Investment in company-owned life insurance	(3,887)	(2,465)
Cash paid for acquisitions, net of cash acquired	0	(12,437)
Purchase of real estate property	0	(16,607)
Other investing activities	0	(750)
Net cash provided by (used in) investing activities	5,198	(57,730)
Financing activities
Proceeds from exercise of stock options	23,431	9,054
Proceeds from share purchases under Employee Stock Purchase Plan	2,381	2,961
Payment of employee taxes related to vested restricted stock units	(8,412)	(7,294)
Principal paid on finance lease	(640)	(526)
Net cash provided by financing activities	16,760	4,195
Effect of exchange rate changes on cash and cash equivalents	(1,302)	(4,635)
Net increase (decrease) in cash, cash equivalents and restricted cash	22,953	(69,712)
Cash, cash equivalents and restricted cash at beginning of period	94,647	174,359
Cash, cash equivalents and restricted cash at end of period	117,600	104,647
Supplemental disclosures of cash flow information
Taxes paid, net of refunds	868	511
Other interest paid	2,446	2,115
Supplemental schedule of noncash investing and financing activities
Contingent consideration acquired	0	7,700
Purchases of property and equipment included in accounts payable and accrued liabilities	$ 703	$ 590

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 114,485	$ 90,813
Short-term investments	171,741	187,947
Accounts receivable, net	138,900	108,608
Inventory	59,306	63,564
Prepaid expenses and other current assets	31,346	24,052
Total current assets	515,778	474,984
Restricted cash	3,115	3,834
Property and equipment, net	112,114	113,253
Operating lease right-of-use asset	31,271	31,527
Finance lease right-of-use asset	38,197	39,404
Intangible assets, net	127,151	141,916
Goodwill	66,710	66,710
Deposits and other assets	26,185	21,859
Total assets	920,521	893,487
Current liabilities:
Accounts payable	19,139	24,624
Accrued liabilities	83,190	76,651
Total current liabilities	102,329	101,275
Operating lease liability	35,491	35,767
Finance lease liability	67,345	68,109
Deferred tax liability, net	441	441
Other liabilities	32,429	31,740
Total liabilities	238,035	237,332
Commitments and contingencies (Note 11)
Stockholders' equity:
Preferred stock, $0.001 par value; 5,000 shares authorized; no shares issued and outstanding as of June 30, 2026 and December 31, 2025
Common stock, $0.001 par value; 150,000 shares authorized; 58,886 and 57,539 shares issued and 58,858 and 57,511 shares outstanding as of June 30, 2026 and December 31, 2025, respectively	59	58
Additional paid-in capital	1,651,465	1,586,056
Accumulated other comprehensive income	2,384	3,303
Accumulated deficit	(971,290)	(933,130)
Less treasury stock (28 shares as of June 30, 2026 and December 31, 2025)	(132)	(132)
Total stockholders' equity	682,486	656,155
Total liabilities and stockholders' equity	$ 920,521	$ 893,487