GLAUKOS Corp (GKOS) FY2025 10-K Annual Report
GLAUKOS Corp (GKOS) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 23, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
GLAUKOS Corp FY2025 10-K Analysis
Business Overview
- • Core business model: Development, manufacturing, and commercialization of ophthalmic surgical implants and pharmaceutical therapies
- • New product emphasis: Commercial launch of iDose TR implant in early 2024 and FDA approval plus planned commercialization of Epioxa pharmaceutical therapy in early 2026
Management Discussion & Analysis
- • Revenue $507.4M, up 32% YoY from $383.5M; US glaucoma sales up 50% to $298.6M, international glaucoma up 18% to $122.5M
- • Gross margin 56% in 2025 vs 75% in 2024; Operating loss $(199.6)M vs $(122.4)M; Net loss $(187.7)M vs $(146.4)M
Risk Factors
- • Regulatory risk: U.S. FDA approval of Epioxa in October 2025 requires securing permanent HCPCS J-Code and commercial payer coverage for reimbursement
- • Macroeconomic risk: U.S. tariffs on imports from Canada, Mexico, and China, despite limited exposure, risk escalating trade disputes affecting sourcing costs
GLAUKOS Corp FY2025 Key Financial MetricsXBRL
Revenue
$507M
▲ +32.3% YoY
Net Income
-$188M
▼ -28.2% YoY
Gross Margin
55.7%
▼ -1976bp YoY
Operating Margin
-39.3%
▼ -743bp YoY
Net Margin
-37.0%
▲ +118bp YoY
ROE
-28.6%
▼ -952bp YoY
Total Assets
$893M
▼ -8.3% YoY
EPS (Diluted)
$-3.28
▼ -18.4% YoY
Operating Cash Flow
-$15M
▲ +75.9% YoY
Source: XBRL data from GLAUKOS Corp FY2025 10-K filing on SEC EDGAR. All figures in USD.
Get deeper insights on GLAUKOS Corp
Access full AI analysis, insider trading data, fund holdings, and cross-signal detection on SignalX.