Glaukos Corporation reported significant financial performance improvements in its latest quarterly filing, with net sales reaching $133.5 million for the three months ended September 30, 2025, a 38% increase from $96.7 million in the same period last year. For the nine months ended September 30, 2025, net sales totaled $364.3 million, up 31% from $278.0 million in 2024. The company attributed this growth primarily to increased sales of its iDose TR product, which has a higher net sales price compared to other offerings, despite a decline in sales volume of its iStent family of products due to recent Medicare coverage restrictions.
The company’s gross profit for the third quarter was $104.7 million, reflecting a gross margin of 78%, slightly up from 77% in the prior year. Operating expenses also increased, totaling $121.1 million for the quarter, a 23% rise from $98.7 million in 2024, driven by higher selling, general, and administrative costs, as well as research and development expenses. Glaukos reported a net loss of $16.2 million for the quarter, an improvement from a loss of $21.4 million in the same quarter of 2024.
In terms of strategic developments, Glaukos completed the acquisition of Mobius Therapeutics in May 2025 for $12.4 million, which is expected to enhance its product portfolio in glaucoma treatment. The company also purchased a new property in Aliso Viejo, California, for $16.6 million, which will support future expansion. Additionally, Glaukos received FDA approval for Epioxa, a new treatment for keratoconus, which is set to be commercialized in early 2026.
Operationally, Glaukos reported an increase in accounts receivable, which rose to $98.7 million from $60.7 million at the end of 2024, reflecting higher sales volumes and extended payment terms for iDose TR. The company’s inventory also increased to $63.9 million, up from $57.7 million, indicating preparations for anticipated demand. As of September 30, 2025, Glaukos had cash and cash equivalents of $98.2 million, down from $169.6 million at the end of 2024, while short-term investments increased to $175.5 million.
Looking ahead, Glaukos remains optimistic about its growth trajectory, particularly with the anticipated commercialization of Epioxa and the ongoing expansion of its product offerings. However, the company acknowledged potential risks related to supply chain disruptions, regulatory changes, and market conditions that could impact its operations and financial performance. The management emphasized the importance of navigating these challenges while continuing to invest in research and development to drive future growth.
About GLAUKOS Corp
Glaukos is an ophthalmic pharmaceutical and medical device company specializing in innovative treatments for glaucoma, corneal disorders, and retinal diseases. Its core products include Micro-Invasive Glaucoma Surgery (MIGS) devices, sustained-release pharmaceuticals, and bio-activated therapies. Serving global markets, the company focuses on improving clinical outcomes through proprietary technologies, extensive R&D, and regulatory expertise in ophthalmology. Its business model emphasizes product development, commercialization, and strategic licensing.
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