Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data GLAUKOS Corp files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2016
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Revenue
114
159
181
237
225
294
283
315
383
507
Cost of revenue
16.2
21.1
25.1
38.6
91.7
66.6
69
75.6
94
112
Gross profit
98.2
138
156
198
133
227
214
239
289
283
Research and development
29.2
38.9
49.7
68.3
85.4
101
123
139
136
151
Selling, general and administrative
64.8
96.3
120
177
171
179
193
224
261
332
Operating expenses
94
140
169
249
257
260
296
368
412
482
Operating income
4.24
-2.28
-13
-50.3
-124
-32.9
-82.3
-129
-122
-200
Interest expense
2.57
14.1
13.4
13.7
13.6
10
4.64
Other non-operating income
0.32
2.28
0.63
0.26
-8.76
-16.4
-16.1
-5.03
-23.2
6.56
Pre-tax income
4.57
0
-12.4
-50
-132
-49.3
-98.4
-134
-146
-193
Income tax
0.04
0.09
0.58
-65.5
-12
0.33
0.77
0.93
0.77
-5.35
Net income
4.52
-0.09
-13
15.4
-120
-49.6
-99.2
-135
-146
-188
EBITDA
8.96
3.2
-6.74
-44
-94.2
-3.21
-50.7
-95
-86.7
-162
EPS, basic
0.14
0.00
-0.37
0.41
-2.70
-1.07
-2.09
-2.78
-2.77
-3.28
EPS, diluted
0.12
0.00
-0.37
0.37
-2.70
-1.07
-2.09
-2.78
-2.77
-3.28
Shares, basic (weighted)
32.9
34.4
35.3
37.4
44.5
46.4
47.4
48.4
52.8
57.2
Shares, diluted (weighted)
36.5
34.4
35.3
41.1
44.5
46.4
47.4
48.4
52.8
57.2
Balance sheet
FY2016
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
6.49
24.5
29.8
62.4
96.6
101
120
93.5
170
90.8
Receivables
14.3
16.7
18.7
38.4
36.1
33.4
36.1
39.9
60.7
109
Inventory
6.84
11.2
13.3
42.6
15.8
23
37.8
42
57.7
63.6
Other current assets
3.03
2.57
4.12
7.9
13.2
15.6
17.3
18.2
12.5
24.1
Total current assets
120
149
177
263
469
486
444
395
450
475
Property, plant and equipment
7.59
11.8
19.2
22.1
24
69
94.4
103
97.9
113
Lease right-of-use assets
15.7
20
28.1
25.8
27.1
30.3
31.5
Goodwill
66.1
66.1
66.1
66.1
66.1
66.1
66.7
Intangible assets
6.57
3.15
383
358
333
308
283
263
142
Total assets
134
166
207
818
1,006
1,050
1,002
940
975
893
Accounts payable
2.97
6.24
6.29
5.78
4.37
7.33
14.4
13.4
13
24.6
Accrued liabilities
13.9
20.4
24
51.9
45.3
56
58
60.6
62.1
76.7
Total current liabilities
16.9
26.8
30.4
57.7
49.7
63.4
72.4
74
75.1
101
Lease liabilities
14.2
20.7
29.7
28.9
30.4
33.9
35.8
Other non-current liabilities
0.16
0.85
2.75
5.17
7.03
9.49
10.3
13.8
22.4
31.7
Total liabilities
17.1
27.6
33.1
145
338
463
472
479
208
237
Paid-in capital
309
331
378
862
977
952
997
1,060
1,510
1,586
Retained earnings
-192
-192
-205
-190
-310
-365
-464
-599
-745
-933
Treasury stock
-0.13
-0.13
-0.13
-0.13
-0.13
-0.13
-0.13
-0.13
-0.13
-0.13
Other comprehensive income
0.65
-0.59
0.74
1.33
1
0.02
-2.98
1.17
2.62
3.3
Shareholders' equity
117
138
174
673
667
587
530
462
767
656
Total equity
117
138
174
673
667
587
530
462
767
656
Total liabilities and equity
134
166
207
818
1,006
1,050
1,002
940
975
893
Shares outstanding
33.9
34.6
36.1
43.5
45.2
47
47.8
49.1
56.4
57.5
Cash flow statement
FY2016
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
4.52
-0.09
-13
15.4
-120
-49.6
-99.2
-135
-146
-188
Depreciation and amortization
4.72
5.48
6.26
6.31
29.4
29.7
31.6
33.7
35.7
38.1
Stock-based compensation
8.79
17.6
25.7
36.4
46.5
30.1
38.6
43.5
50.2
63.2
Deferred income tax
-0.24
-66.3
-12
-1.03
-0.06
-0.12
-0.22
-6.49
Change in receivables
-6.79
-2.18
-2.25
-6.63
2.24
1.7
-3.14
-3.67
-21.9
-53
Change in inventory
-2.94
-4.16
-2.3
0.05
1.96
-7.7
-15.5
-5.36
-19.5
-7.7
Change in payables
5.1
9.74
2.53
0.78
-2.68
12.4
7.21
1.31
0.02
18.8
Cash from operations
12.3
26.1
18.9
-0.37
-23
24.7
-33.1
-57.8
-61.3
-14.8
Capital expenditures
-6.28
-6.31
-10.3
-4.72
-6.94
-47.8
-30.3
-20.2
-6.3
-7.67
Acquisitions
-12.4
Purchases of investments
-75.2
-94.3
-93.7
-80.4
-301
-215
-59.3
-266
-190
-232
Sales and maturities of investments
55.4
88.9
78.9
80.5
105
207
135
303
247
197
Cash from investing
-26.1
-12.4
-26.4
43.4
-205
-58.2
44.8
14.1
47.8
-77.6
Debt issued
288
Stock issued
6.06
3.7
18.7
15.1
20.2
26.1
3.58
12.7
39.3
13.5
Cash from financing
-1.64
4.67
21.6
-9.65
263
39.3
6.25
15
91.5
11.9
Exchange rate effect
0.37
-0.43
0.05
-0.25
-0.09
-1.77
Net change in cash
-15.1
17.9
14.1
33.2
34.4
3.96
16.5
-27.3
75
-79.7
Free cash flow
6.03
19.8
8.55
-5.09
-29.9
-23.1
-63.3
-78
-67.6
-22.5
Interest paid
0.29
0
1.33
4.07
4.43
4.35
4.47
4.21
Income taxes paid
0.51
0.01
0.4
0.17
0.48
0.27
0.52
1.56
1.36
0.95
Key metrics
Worked out from the statements above. Latest values use the trailing twelve months to September 30, 2026; growth uses fiscal years. Valuation uses the share price of $236.19 on November 10, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
64.8%
Gross profit / revenue.
Operating margin
-25.5%
Operating income / revenue.
EBITDA margin
-19.5%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
-25.3%
Pre-tax income / revenue.
Net margin
-24.6%
Net income / revenue.
FCF margin
5.2%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
6.9%
Cash from operations / revenue.
Return on equity (ROE)
-23.7%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-17.3%
Net income / average total assets.
Return on invested capital (ROIC)
-25.1%
Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue
24.6%
Research and development expense / revenue.
SG&A / revenue
63.0%
Selling, general and administrative expense / revenue.
Stock-based pay / revenue
12.0%
Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue
1.7%
Capital expenditures / revenue.
D&A / revenue
6.1%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
32.3%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
21.5%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y
17.7%
Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y
-2.3%
Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y
9.8%
Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y
16.2%
Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y
-14.4%
Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y
7.4%
Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y
-0.3%
Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y
-8.3%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
-3.8%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y
-2.3%
Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y
8.4%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y
6.4%
Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y
5.1%
Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
4.57x
Current assets / current liabilities.
Quick ratio
2.46x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
1.28x
(Cash + short-term investments) / current liabilities.
Days inventory + days sales outstanding - days payables.
Capex / operating cash flow
24.5%
Capital expenditures / cash from operations, when that is positive.
Per share
Metric
Value
How it is calculated
EPS, diluted
-$2.77
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share
$11.28
Revenue / diluted weighted shares.
FCF per share
$0.59
Free cash flow / diluted weighted shares.
Operating cash flow per share
$0.78
Cash from operations / diluted weighted shares.
Book value per share
$12.12
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/S
20.2x
Market cap / revenue.
P/B
19.4x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
26.3x
Market cap / tangible book value, when positive.
P/FCF
387x
Market cap / free cash flow. Only when free cash flow is positive.
P/OCF
292x
Market cap / cash from operations, when positive.
EV/Sales
19.9x
Enterprise value / revenue.
EV/FCF
382x
Enterprise value / free cash flow, when both are positive.
FCF yield
0.3%
Free cash flow / market cap.
Earnings yield
-1.2%
Net income / market cap (the inverse of P/E).
What was GLAUKOS Corp's revenue in fiscal 2025?
GLAUKOS Corp reported revenue of $507.4M for fiscal 2025, 32.3% higher than the year before.
Was GLAUKOS Corp profitable in fiscal 2025?
No. It reported a net loss of $187.7M.
How much free cash flow did GLAUKOS Corp generate in fiscal 2025?
Cash from operations of $14.8M minus capital expenditures of $7.7M left free cash flow of -$22.5M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.