Glaukos Q2 Earnings In Line, Glaucoma Drives Sales
Glaukos Corporation (NYSE: GKOS) reported second-quarter 2024 adjusted loss of 52 cents per share, in line with the Zacks Consensus Estimate. The figure was narrower than the year-ago quarter’s adjusted loss of 55 cents per share.
The GAAP loss per share was $1.06 compared with the prior-year quarter’s reported loss of 68 cents.
Revenue Details
Glaukos registered revenues of $95.7 million in the second quarter, up 19% year over year on a reported basis and 20% at constant currency (cc). The figure also surpassed the Zacks Consensus Estimate by 8.2%.
Quarter in Detail
The company recorded net sales of $75.9 million and $19.8 million for Glaucoma and Corneal Health, respectively, up 23% and 7% year over year.
Margin Trend
Gross profit increased 21.3% to $73.1 million. The adjusted gross margin was flat year over year at 82%.
Selling, general and administrative expenses rose 25% to $66.2 million. Research and development expenses totaled $34.4 million, up 4% year over year. Total operating expenses were $104.4 million, up 17.6% from that recorded in the prior-year period.
The operating loss amounted to $30 million compared with $32.9 million in the year-ago period. The adjusted operating loss was $23.7 million, wider than the year-ago quarter’s reported loss of $22.8 million.
Financial Update
Glaukos exited the second quarter of 2024 with cash …
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