This page shows Glaukos Corp (GKOS) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 13 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Glaukos Corp has an operating margin of -39.3%, meaning the company retains $-39 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is down from -31.9% the prior year.
Glaukos Corp's revenue surged 32.3% year-over-year to $507.4M, reflecting rapid business expansion. This strong growth earns a score of 87/100.
Glaukos Corp carries a low D/E ratio of 0.36, meaning only $0.36 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 95/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 4.69, Glaukos Corp holds $4.69 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 93/100.
While Glaukos Corp generated -$14.8M in operating cash flow, capex of $7.7M consumed most of it, leaving -$22.5M in free cash flow. This results in a low score of 14/100, reflecting heavy capital investment rather than weak cash generation.
Glaukos Corp generates a -28.6% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is down from -19.1% the prior year.
Glaukos Corp passes 2 of 9 financial strength tests. 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Glaukos Corp generates $0.08 in operating cash flow (-$14.8M OCF vs -$187.7M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Glaukos Corp earns $-43.1 in operating income for every $1 of interest expense (-$199.6M vs $4.6M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Glaukos Corp generated $507.4M in revenue in fiscal year 2025. This represents an increase of 32.3% from the prior year.
Glaukos Corp's EBITDA was -$161.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 86.2% from the prior year.
Glaukos Corp reported -$187.7M in net income in fiscal year 2025. This represents a decrease of 28.2% from the prior year.
Glaukos Corp earned $-3.28 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 18.4% from the prior year.
Cash & Balance Sheet
Glaukos Corp generated -$22.5M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 66.8% from the prior year.
Glaukos Corp held $90.8M in cash against $0 in long-term debt as of fiscal year 2025.
Glaukos Corp had 58M shares outstanding in fiscal year 2025. This represents an increase of 1.9% from the prior year.
Margins & Returns
Glaukos Corp's gross margin was 55.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 19.8 percentage points from the prior year.
Glaukos Corp's operating margin was -39.3% in fiscal year 2025, reflecting core business profitability. This is down 7.4 percentage points from the prior year.
Glaukos Corp's net profit margin was -37.0% in fiscal year 2025, showing the share of revenue converted to profit. This is up 1.2 percentage points from the prior year.
Glaukos Corp's ROE was -28.6% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 9.5 percentage points from the prior year.
Capital Allocation
Glaukos Corp invested $150.6M in research and development in fiscal year 2025. This represents an increase of 10.4% from the prior year.
Glaukos Corp invested $7.7M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 21.7% from the prior year.
GKOS Income Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $143.1M+7.2% | $133.5M+7.6% | $124.1M+16.4% | $106.7M+1.1% | $105.5M+9.1% | $96.7M+1.0% | $95.7M+11.8% | $85.6M |
| Cost of Revenue | $31.8M+10.2% | $28.8M+7.2% | $26.9M+10.6% | $24.3M-15.1% | $28.6M+26.8% | $22.6M+0.2% | $22.6M+11.3% | $20.3M |
| Gross Profit | $111.3M+6.3% | $104.7M+7.7% | $97.2M+18.1% | $82.3M+7.1% | $76.9M+3.7% | $74.1M+1.3% | $73.1M+11.9% | $65.4M |
| R&D Expenses | $43.7M+14.7% | $38.1M+4.2% | $36.5M+12.9% | $32.4M-11.4% | $36.5M+5.1% | $34.7M+0.9% | $34.4M+12.0% | $30.7M |
| SG&A Expenses | $94.7M+14.1% | $83.0M-0.5% | $83.4M+18.0% | $70.7M+2.4% | $69.0M+7.8% | $64.0M-3.3% | $66.2M+6.8% | $62.0M |
| Operating Income | -$139.9M-754.7% | -$16.4M+27.9% | -$22.7M-9.7% | -$20.7M+27.9% | -$28.7M-16.2% | -$24.7M+17.7% | -$30.0M+23.3% | -$39.1M |
| Interest Expense | $1.1M-2.5% | $1.2M+2.1% | $1.2M-1.0% | $1.2M-26.0% | $1.6M-5.5% | $1.7M-50.4% | $3.4M-2.8% | $3.5M |
| Income Tax | -$6.2M-2732.1% | $234K-5.6% | $248K-23.9% | $326K+386.0% | -$114K-164.4% | $177K-46.5% | $331K-12.2% | $377K |
| Net Income | -$133.7M-723.5% | -$16.2M+17.4% | -$19.7M-8.3% | -$18.1M+46.0% | -$33.6M-56.8% | -$21.4M+57.6% | -$50.5M-23.8% | -$40.8M |
| EPS (Diluted) | N/A | $-0.28+17.6% | $-0.34-6.3% | $-0.32 | N/A | $-0.39+61.0% | $-1.00-22.0% | $-0.82 |
GKOS Balance Sheet
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $893.5M-10.6% | $999.4M+1.3% | $987.0M+2.2% | $966.2M-0.9% | $974.8M+5.2% | $926.5M+0.7% | $919.7M-1.5% | $933.3M |
| Current Assets | $475.0M+4.4% | $454.8M+4.3% | $436.1M-1.9% | $444.5M-1.2% | $449.8M+13.2% | $397.3M+3.5% | $383.8M-1.2% | $388.6M |
| Cash & Equivalents | $90.8M-7.6% | $98.2M-2.5% | $100.8M-11.8% | $114.3M-32.6% | $169.6M+69.4% | $100.1M+47.1% | $68.1M+60.2% | $42.5M |
| Inventory | $63.6M-0.5% | $63.9M-1.2% | $64.6M+8.7% | $59.5M+3.1% | $57.7M-3.7% | $59.9M+6.0% | $56.5M+12.5% | $50.2M |
| Accounts Receivable | $108.6M+10.1% | $98.7M+18.9% | $83.0M+16.0% | $71.5M+17.8% | $60.7M+7.7% | $56.4M+10.1% | $51.2M+10.0% | $46.5M |
| Goodwill | $66.7M0.0% | $66.7M0.0% | $66.7M+0.9% | $66.1M0.0% | $66.1M0.0% | $66.1M0.0% | $66.1M0.0% | $66.1M |
| Total Liabilities | $237.3M+3.3% | $229.8M+3.6% | $221.8M+9.7% | $202.2M-2.7% | $207.8M-19.5% | $258.0M+1.4% | $254.5M-47.3% | $482.6M |
| Current Liabilities | $101.3M+15.7% | $87.5M+10.6% | $79.1M+15.5% | $68.5M-8.8% | $75.1M+4.8% | $71.7M+2.3% | $70.1M-3.0% | $72.2M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $656.2M-14.7% | $769.5M+0.6% | $765.1M+0.2% | $764.0M-0.4% | $766.9M+14.7% | $668.5M+0.5% | $665.2M+47.6% | $450.7M |
| Retained Earnings | -$933.1M-16.7% | -$799.5M-2.1% | -$783.2M-2.6% | -$763.6M-2.4% | -$745.4M-4.7% | -$711.9M-3.1% | -$690.5M-7.9% | -$639.9M |
GKOS Cash Flow Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $6.8M+167.8% | -$10.1M-244.6% | $7.0M+137.7% | -$18.5M-3753.1% | $507K+105.3% | -$9.6M+47.8% | -$18.4M+45.8% | -$33.9M |
| Capital Expenditures | $2.9M+78.2% | $1.6M+38.7% | $1.2M-39.2% | $1.9M+11.8% | $1.7M+19.5% | $1.4M-32.5% | $2.1M+122.0% | $968K |
| Free Cash Flow | $3.9M+133.5% | -$11.7M-302.2% | $5.8M+128.3% | -$20.5M-1568.8% | -$1.2M+88.9% | -$11.0M+46.2% | -$20.5M+41.1% | -$34.8M |
| Investing Cash Flow | -$15.9M-297.9% | -$4.0M+80.8% | -$20.8M+43.8% | -$36.9M-413.5% | $11.8M-61.4% | $30.6M-12.3% | $34.9M+218.7% | -$29.4M |
| Financing Cash Flow | $2.4M-53.9% | $5.3M+134.5% | $2.2M+15.1% | $1.9M-96.8% | $60.1M+521.8% | $9.7M+12.5% | $8.6M-34.7% | $13.2M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
GKOS Financial Ratios
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 77.8%-0.6pp | 78.4%+0.1pp | 78.3%+1.1pp | 77.2%+4.3pp | 72.9%-3.8pp | 76.6%+0.2pp | 76.4%+0.1pp | 76.3% |
| Operating Margin | -97.7%-85.5pp | -12.3%+6.0pp | -18.3%+1.1pp | -19.4%+7.8pp | -27.2%-1.7pp | -25.5%+5.8pp | -31.3%+14.3pp | -45.6% |
| Net Margin | -93.4%-81.2pp | -12.2%+3.7pp | -15.8%+1.2pp | -17.0%+14.8pp | -31.8%-9.7pp | -22.1%+30.7pp | -52.8%-5.1pp | -47.7% |
| Return on Equity | -20.4%-18.3pp | -2.1%+0.5pp | -2.6%-0.2pp | -2.4%+2.0pp | -4.4%-1.2pp | -3.2%+4.4pp | -7.6%+1.5pp | -9.1% |
| Return on Assets | -15.0%-13.3pp | -1.6%+0.4pp | -2.0%-0.1pp | -1.9%+1.6pp | -3.4%-1.1pp | -2.3%+3.2pp | -5.5%-1.1pp | -4.4% |
| Current Ratio | 4.69-0.5 | 5.20-0.3 | 5.51-1.0 | 6.49+0.5 | 5.99+0.4 | 5.54+0.1 | 5.48+0.1 | 5.38 |
| Debt-to-Equity | 0.36+0.1 | 0.300.0 | 0.29+0.0 | 0.260.0 | 0.27-0.1 | 0.390.0 | 0.38-0.7 | 1.07 |
| FCF Margin | 2.8%+11.5pp | -8.8%-13.5pp | 4.7%+23.8pp | -19.2%-18.0pp | -1.2%+10.3pp | -11.4%+10.0pp | -21.4%+19.2pp | -40.7% |
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Frequently Asked Questions
What is Glaukos Corp's annual revenue?
Glaukos Corp (GKOS) reported $507.4M in total revenue for fiscal year 2025. This represents a 32.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Glaukos Corp's revenue growing?
Glaukos Corp (GKOS) revenue grew by 32.3% year-over-year, from $383.5M to $507.4M in fiscal year 2025.
Is Glaukos Corp profitable?
No, Glaukos Corp (GKOS) reported a net income of -$187.7M in fiscal year 2025, with a net profit margin of -37.0%.
What is Glaukos Corp's EBITDA?
Glaukos Corp (GKOS) had EBITDA of -$161.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Glaukos Corp's gross margin?
Glaukos Corp (GKOS) had a gross margin of 55.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Glaukos Corp's operating margin?
Glaukos Corp (GKOS) had an operating margin of -39.3% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Glaukos Corp's net profit margin?
Glaukos Corp (GKOS) had a net profit margin of -37.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Glaukos Corp's return on equity (ROE)?
Glaukos Corp (GKOS) has a return on equity of -28.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Glaukos Corp's free cash flow?
Glaukos Corp (GKOS) generated -$22.5M in free cash flow during fiscal year 2025. This represents a 66.8% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Glaukos Corp's operating cash flow?
Glaukos Corp (GKOS) generated -$14.8M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Glaukos Corp's total assets?
Glaukos Corp (GKOS) had $893.5M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Glaukos Corp's capital expenditures?
Glaukos Corp (GKOS) invested $7.7M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Glaukos Corp spend on research and development?
Glaukos Corp (GKOS) invested $150.6M in research and development during fiscal year 2025.
What is Glaukos Corp's current ratio?
Glaukos Corp (GKOS) had a current ratio of 4.69 as of fiscal year 2025, which is generally considered healthy.
What is Glaukos Corp's debt-to-equity ratio?
Glaukos Corp (GKOS) had a debt-to-equity ratio of 0.36 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Glaukos Corp's return on assets (ROA)?
Glaukos Corp (GKOS) had a return on assets of -21.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Glaukos Corp's cash runway?
Based on fiscal year 2025 data, Glaukos Corp (GKOS) had $90.8M in cash against an annual operating cash burn of $14.8M. This gives an estimated cash runway of approximately 74 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Glaukos Corp's Piotroski F-Score?
Glaukos Corp (GKOS) has a Piotroski F-Score of 2 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Glaukos Corp's earnings high quality?
Glaukos Corp (GKOS) has an earnings quality ratio of 0.08x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Glaukos Corp cover its interest payments?
Glaukos Corp (GKOS) has an interest coverage ratio of -43.1x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Glaukos Corp?
Glaukos Corp (GKOS) scores 48 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.