NYSE$GKOS

Glaukos Corp · Q4 2020 earnings

Q4 2020 earnings · · Investor relations

Briefing

Glaukos experienced revenue growth and maintained a strong gross margin, while incurring a net loss for the quarter.

Glaukos Corporation reported Q4 2020 financial results with net sales increasing by 11% to $73.2 million compared to Q4 2019. The company's gross margin was approximately 73%, and non-GAAP gross margin was approximately 83%. The net loss for the quarter was $10.6 million, or ($0.24) per diluted share, compared to a net income of $36.6 million, or $0.84 per diluted share, in Q4 2019.

  • Net sales increased 11% to $73.2 million in Q4 2020 compared to $65.8 million in Q4 2019.
  • Glaucoma net sales reached $58.4 million, and Corneal Health net sales were $14.9 million in Q4 2020.
  • Gross margin was approximately 73%, and non-GAAP gross margin was approximately 83% in Q4 2020.
  • Operating expenses amounted to $65.0 million, with non-GAAP operating expenses at $61.5 million in Q4 2020.

Headline financials

Total Revenue

$73.2M

Previous: $65.8M+11.2%
EPS (adj)

-$0.02

Previous: -$0.06+66.7%
Gross Margin

73.0%

Previous: 76.0%-3.9%
Non-GAAP Gross Margin

83.0%

Previous: 85.0%-2.4%
SG&A Expenses

$43.8M

Previous: $59.6M-26.5%
R&D Expenses

$21.2M

Previous: $20M+6.2%
Capital Expenditures

$2.15M

Previous: $1.19M+79.6%
Free Cash Flow

$8.46M

Previous: -$5.39M+257.1%
Net Income

-$10.6M

Previous: $36.6M-129.1%
Operating Income

-$11.4M

Previous: -$29.7M+61.6%
Gross Profit

$53.6M

Previous: $49.9M+7.4%
Cash & Equivalents

$96.6M

Previous: $62.4M+54.7%
Total Assets

$1.01B

Previous: $818M+22.9%
Stock-Based Comp

$8.74M

Previous: $12.5M-29.9%

Revenue & EPS history

Glaukos · Revenue · Quarterly

$73.2M

Q4 2020+11.2%vs Q4 2019
Beat estimate in 10 of 16 quarters(63%)
ActualEstimate

Revenue by segment

Glaukos · $58.4M total across 1 segment · Q4 2020

  • Glaucoma
    $58.4M-2.3%

Forward guidance

The company expects the first quarter of 2021 net sales to increase approximately 15% to 20% compared to the first quarter of 2020.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2020

Historical avgQ4 2020

-0.3%

Avg return

Earnings day

-4.0%

Avg return

5 days after

-0.5%

Avg return

30 days after

39%

18 / 46 earnings

Positive

+25.2%

Q1 2016

Best reaction

-28.2%

Q4 2019

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+22.1%+14.1%-11.8%
Q4 2025+12.8%+12.9%-5.3%
Q3 2025+14.0%+11.5%+37.9%
Q1 2025-1.4%-15.0%-15.1%
Q4 2024-20.0%-23.4%-35.0%
Q3 2024-3.0%+7.6%+4.9%
Q2 2024-0.2%-3.6%+13.6%
Q1 2024+9.4%+9.4%+17.4%
Q4 2023-0.7%-0.5%-4.4%
Q3 2023-5.9%-6.1%-4.5%
Q2 2023-3.0%-2.0%-2.4%
Q1 2023+11.3%+29.1%+36.7%
Q4 2022-2.7%-5.4%-1.7%
Q3 2022-11.6%-13.8%-12.4%
Q2 2022+0.4%-1.8%-8.3%
Q1 2022-7.0%-27.1%-11.2%
Q4 2021+1.9%+9.7%+10.3%
Q3 2021+6.6%-2.6%-24.7%
Q2 2021+3.8%+2.4%+20.2%
Q1 2021-9.0%-15.8%-18.9%
Q4 2020-1.9%-0.4%-11.3%
Q3 2020+7.7%+15.3%+25.4%
Q2 2020-13.2%-18.6%-3.4%
Q1 2020-2.0%-6.8%+15.0%
Q4 2019-28.2%-30.2%-45.6%
Q3 2019-8.8%-2.8%-7.3%
Q2 2019-15.4%-20.5%-14.9%
Q1 2019-4.8%-10.4%-5.9%
Q4 2018+11.6%+2.7%+17.9%
Q3 2018+1.8%-2.8%+9.5%
Q2 2018-9.5%-7.5%+57.1%
Q1 2018-4.5%-8.3%+11.9%
Q4 2017+7.1%+0.8%-2.1%
Q3 2017-16.2%-15.0%-26.6%
Q2 2017-6.7%-5.0%-3.9%
Q1 2017-11.6%-15.4%-14.9%
Q4 2016+4.8%-1.4%+12.7%
Q3 2016-3.3%-3.6%-5.7%
Q2 2016-2.1%-5.5%-14.6%
Q1 2015+18.3%
Q1 2016+25.2%
Q4 2015-2.9%
Q3 2014+9.6%
Q3 2015+15.3%
Q4 2014-0.2%
Q2 2015-0.0%
Q2 2014
Q1 2014
Q4 2013
Q3 2013
Q2 2013
Q1 2013

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