Glaukos Corp Stock Research

Market Summary

USD54.85-0.38

Market Closed

-0.69%

GKOS Alerts

1 major insider sales recently.
Big fall in earnings (Y/Y)
Losses in recent quarter

GKOS Stock Price

GKOS RSI Chart

GKOS Valuation

Market Cap

2.6B

Price/Earnings (Trailing)

-18.89

Price/Sales (Trailing)

9.1

EV/EBITDA

-21.71

Price/Free Cashflow

-25.24

GKOS Price/Sales (Trailing)

GKOS Profitability

EBT Margin

-34.80%

Return on Equity

-18.72%

Return on Assets

-9.9%

Free Cashflow Yield

-3.96%

GKOS Fundamentals

GKOS Revenue

Revenue (TTM)

289.1M

Revenue Y/Y

9.19%

Revenue Q/Q

3.75%

GKOS Earnings

Earnings (TTM)

-139.2M

Earnings Y/Y

-743.97%

Earnings Q/Q

-10.06%

Price Action

52 Week Range

39.5161.01

(Low)(High)

Last 7 days

-6.5%

Last 30 days

17.0%

Last 90 days

15.2%

Trailing 12 Months

34.9%

GKOS Financial Health

Current Ratio

6.13

GKOS Investor Care

Shares Dilution (1Y)

1.81%

Diluted EPS (TTM)

-2.92

Peers (Alternatives to Glaukos)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
SYK	110.8B	19.0B	-8.78%	16.43%	46.98	6.01	8.73%	30.37%
ISRG	107.5B	6.4B	4.05%	37.44%	81.96	16.72	8.89%	-20.19%
BSX	74.1B	13.0B	-0.08%	27.20%	106.12	5.84	7.26%	-32.95%
BDX	71.3B	18.8B	-6.73%	-3.13%	44.09	3.79	-1.96%	-15.83%
EW	49.7B	5.5B	-6.18%	-16.80%	33.38	9.03	2.68%	-3.23%
MID-CAP
SWAV	7.2T	557.2M	-1.64%	66.40%	82.2K	16.8K	86.42%	730.06%
PEN	11.7B	884.6M	7.85%	115.97%	1.8K	13.2	13.08%	200.12%
GMED	5.9B	1.1B	-8.20%	-19.98%	34.14	5.75	11.20%	53.04%
IRTC	3.6B	430.0M	-11.89%	-12.63%	-34.73	8.45	26.13%	15.73%
TNDM	1.7B	794.7M	-29.15%	-60.56%	-8.43	2.16	7.73%	-3556.34%
SMALL-CAP
ATEC	1.6B	389.0M	-3.76%	82.19%	-10.63	4.18	44.08%	6.96%
SILK	1.2B	150.7M	-30.80%	0.49%	-21.65	7.87	40.31%	1.80%
AVNS	1.1B	814.3M	-20.14%	-16.22%	24.47	1.34	6.96%	121.89%
CSII	839.3M	239.8M	0.70%	0.15%	-22.16	3.5	-4.74%	-31.15%

Financials for Glaukos

Income Statement (Last 12 Months)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Revenue	2.2%	289,080,000	282,862,000	284,875,000	288,316,000	293,724,000
Gross Profit	2.4%	219,093,000	213,883,000	216,253,000	221,185,000	226,667,000
Operating Expenses	16.2%	344,191,000	296,196,000	282,701,000	254,998,000	237,942,000
S&GA Expenses	5.0%	202,626,000	192,925,000	188,564,000	185,885,000	181,285,000
R&D Expenses	-	107,508,000	-	-	-	-
EBITDA	-11.8%	-78,045,000	-69,783,000	-11,682,000	15,963,000	-
EBITDA Margin	-12.6%	-0.28	-0.24	-0.04	0.05	-
Earnings Before Taxes	-40.6%	-138,357,000	-98,429,000	-89,502,000	-55,741,000	-27,374,000
EBT Margin	-10.8%	-0.35	-0.31	-0.19	-0.09	-
Interest Expenses	-0.1%	13,712,000	13,720,000	13,735,000	13,667,000	13,559,000
Net Income	-40.3%	-139,198,000	-99,195,000	-89,607,000	-55,801,000	-27,747,000
Net Income Margin	-11.5%	-0.35	-0.31	-0.19	-0.09	-
Free Cahsflow	2.5%	-63,348,000	-64,969,000	-24,541,000	-6,911,000	-

Balance Sheet					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Assets	-3.0%	973	1,002	1,008	1,031	1,052
Current Assets	-6.3%	416	444	449	471	491
Cash Equivalents	-30.2%	83.00	120	104	103	106
Inventory	6.9%	40.00	38.00	34.00	28.00	25.00
Net PPE	4.2%	98.00	94.00	87.00	81.00	75.00
Goodwill	0%	66.00	66.00	66.00	66.00	66.00
Liabilities	-1.8%	464	472	460	469	455
Current Liabilities	-13.8%	62.00	72.00	61.00	70.00	56.00
Shareholder's Equity	-4.1%	509	530	549	562	598
Retained Earnings	-7.5%	-499	-464	-432	-405	-359
Additional Paid-In Capital	1.2%	1,009	997	985	972	961
Shares Outstanding	0.4%	48.00	48.00	48.00	47.00	47.00

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Cashflow From Operations	-122.5%	-73.62	-33.08	-33.60	11.00	30.00
Share Based Compensation	8.5%	42.00	39.00	34.00	31.00	28.00
Cashflow From Investing	-17.7%	37.00	45.00	19.00	-31.20	-42.87
Cashflow From Financing	-4.1%	6.00	6.00	7.00	7.00	23.00

Risks for GKOS

What is the probability of a big loss on GKOS?

97.3%

Probability that Glaukos stock will be more than 20% underwater in next one year

65%

Probability that Glaukos stock will be more than 30% underwater in next one year.

40.4%

Probability that Glaukos stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does GKOS drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Glaukos was unfortunately bought at previous high price.

Drawdowns

Returns for GKOS

Cumulative Returns on GKOS

12.3%

7-Year Cumulative Returns

8.4%

5-Year Cumulative Returns

11.9%

3-Year Cumulative Returns

What are the long-term rolling returns for GKOS?

FIve years rolling returns for Glaukos.

Annualized Returns

Which funds bought or sold GKOS recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-05-22	AMERIPRISE FINANCIAL INC	reduced	-3.36	873,582	8,933,580	-%
2023-05-22	PUTNAM INVESTMENTS LLC	reduced	-4.00	48,991	533,665	-%
2023-05-19	Coppell Advisory Solutions LLC	sold off	-100	-407	-	-%
2023-05-18	JPMORGAN CHASE & CO	reduced	-41.09	-2,258,000	4,707,000	-%
2023-05-18	NEW YORK STATE COMMON RETIREMENT FUND	added	19.64	6,929,000	25,545,000	0.03%
2023-05-17	Thrivent Financial for Lutherans	reduced	-3.39	231,000	2,368,000	0.01%
2023-05-17	VIRGINIA RETIREMENT SYSTEMS ET AL	sold off	-100	-298,144	-	-%
2023-05-16	Rockefeller Capital Management L.P.	sold off	-100	-	-	-%
2023-05-16	SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC	unchanged	-	250,997	1,958,710	0.05%
2023-05-16	SUSQUEHANNA INTERNATIONAL GROUP, LLP	added	30.77	1,506,690	4,520,820	-%

Latest Funds Activity

Are funds buying GKOS calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own GKOS

No. of Funds

Glaukos News

Schedule 13G FIlings of Glaukos

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 14, 2023	brown capital management llc	5.69%	2,712,809	SC 13G/A
Feb 14, 2023	burns thomas william	5.71%	2,807,641	SC 13G/A
Feb 09, 2023	vanguard group inc	11.21%	5,349,225	SC 13G/A
Feb 06, 2023	wellington management group llp	9.19%	4,385,656	SC 13G/A
Jan 31, 2023	blackrock inc.	16.3%	7,783,794	SC 13G
Feb 14, 2022	burns thomas william	5.65%	2,725,557	SC 13G/A
Feb 14, 2022	brown capital management llc	6.44%	3,021,796	SC 13G/A
Feb 04, 2022	artisan partners limited partnership	4.2%	1,983,513	SC 13G/A
Jan 28, 2022	blackrock inc.	15.8%	7,423,702	SC 13G/A
Jan 10, 2022	wellington management group llp	10.50%	4,923,297	SC 13G

GKOS Fair Value

Recent SEC filings of Glaukos

View All Filings

Date Filed	Form Type	Document
May 23, 2023	144	Notice of Insider Sale Intent
May 23, 2023	4	Insider Trading
May 19, 2023	144	Notice of Insider Sale Intent
May 19, 2023	4	Insider Trading
May 18, 2023	144	Notice of Insider Sale Intent
May 17, 2023	144	Notice of Insider Sale Intent
May 17, 2023	4	Insider Trading
May 17, 2023	8-K	Current Report
May 16, 2023	144	Notice of Insider Sale Intent
May 15, 2023	144	Notice of Insider Sale Intent

Latest Insider Trading transactions for GKOS

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-05-23	Burns Thomas William	acquired	50.925	7.275	7.00	chairman & ceo
2023-05-23	Burns Thomas William	sold	-420	60.00	-7.00	chairman & ceo
2023-05-19	Burns Thomas William	sold	-60.21	60.21	-1.00	chairman & ceo
2023-05-19	Burns Thomas William	acquired	7.275	7.275	1.00	chairman & ceo
2023-05-18	Burns Thomas William	acquired	84,841	7.275	11,662	chairman & ceo
2023-05-18	Burns Thomas William	sold	-701,749	60.174	-11,662	chairman & ceo
2023-05-17	Burns Thomas William	acquired	4,510	7.275	620	chairman & ceo
2023-05-17	Burns Thomas William	sold	-37,223	60.038	-620	chairman & ceo
2023-05-16	Burns Thomas William	acquired	26,946	7.275	3,704	chairman & ceo
2023-05-16	Burns Thomas William	sold	-222,273	60.009	-3,704	chairman & ceo

About Glaukos

Thomas W. Burns

www.glaukos.com

730

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.

GKOS Income Statement

2023-03-31

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
Net sales	$ 73,899	$ 67,681
Cost of sales	18,071	17,063
Gross profit	55,828	50,618
Operating expenses:
Selling, general and administrative	53,650	43,949
Research and development	35,171	26,877
Litigation-related settlement		(30,000)
Total operating expenses	88,821	40,826
(Loss) income from operations	(32,993)	9,792
Non-operating expense:
Interest income	1,648	287
Interest expense	(3,408)	(3,416)
Other income (expense), net	528	(960)
Total non-operating expense	(1,232)	(4,089)
(Loss) income before taxes	(34,225)	5,703
Income tax provision	401	326
Net (loss) income	$ (34,626)	$ 5,377
Basic net (loss) income per share (in dollar per share)	$ (0.72)	$ 0.11
Diluted net (loss) income per share (in dollar per share)	$ (0.72)	$ 0.11
Weighted average shares used to compute basic net (loss) income per share	47,881	47,050
Weighted average shares used to compute diluted net (loss) income per share	47,881	49,506

GKOS Balance Sheet

2023-03-31

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 76,398	$ 119,525
Short-term investments	241,371	233,170
Accounts receivable, net	37,852	36,073
Inventory	40,455	37,841
Prepaid expenses and other current assets	19,804	17,250
Total current assets	415,880	443,859
Restricted cash	7,078	7,078
Property and equipment, net	98,331	94,403
Operating lease right-of-use assets	26,640	25,826
Finance lease right-of-use asset	45,996	46,601
Intangible assets, net	301,640	307,869
Goodwill	66,134	66,134
Deposits and other assets	10,893	10,613
Total assets	972,592	1,002,383
Current liabilities:
Accounts payable	12,029	14,403
Accrued liabilities	50,363	57,956
Total current liabilities	62,392	72,359
Convertible senior notes	281,743	281,400
Operating lease liability	29,475	28,905
Finance lease liability	72,023	72,172
Deferred tax liability, net	7,259	7,264
Other liabilities	11,186	10,278
Total liabilities	464,078	472,378
Commitments and contingencies (Note 12)
Stockholders' equity:
Preferred stock, $0.001 par value; 5,000 shares authorized; no shares issued and outstanding
Common stock, $0.001 par value; 150,000 shares authorized; 47,969 and 47,782 shares issued and 47,941 and 47,754 shares outstanding as of March 31, 2023 and December 31, 2022, respectively	48	48
Additional paid-in capital	1,008,955	997,470
Accumulated other comprehensive loss	(1,325)	(2,975)
Accumulated deficit	(499,032)	(464,406)
Less treasury stock (28 shares as of March 31, 2023 and December 31, 2022)	(132)	(132)
Total stockholders' equity	508,514	530,005
Total liabilities and stockholders' equity	$ 972,592	$ 1,002,383