ALISO VIEJO, Calif.—Glaukos Corporation (NYSE: GKOS), an ophthalmic pharmaceutical and medical technology company focused on novel therapies for the treatment of glaucoma, corneal disorders and retinal diseases, yesterday announced financial results for the third quarter ended September 30, 2024. Results showed a 24 percent net sales increase in the third quarter to $96.7 million, the company reported, compared with $78.0 million in the same period in 2023. For the nine months ended September 30, 2024, net sales were $278 million compared with $232.4 million for the same period in 2023.

“Our record third quarter results reflect successful global execution of our key strategic plans and continued strong momentum in our business,” said Thomas Burns, Glaukos chairman and chief executive officer. “We continue to successfully advance our robust pipeline of novel, dropless platform technologies designed to meaningfully advance the standard of care and improve outcomes for patients suffering from chronic eye diseases.”

The company reported record glaucoma net sales of $76.0 million in the third quarter, a 30 percent increase year-over-year. Corneal Health net sales of $20.6 million increased a reported 5 percent year-over-year.

“Our third quarter record sales were primarily driven by both our U.S. and international glaucoma franchises where we continue to accelerate efforts to expand access to interventional glaucoma tools for the benefit of physicians and patients,” Burns noted on an earnings call.

Gross margin for the third quarter of 2024 was approximately 77 percent, compared with approximately 76 percent in the same period in 2023. Non-GAAP gross margin for the third quarter of 2024 was approximately 82 percent, compared with approximately 83 percent in the same period in 2023. Net loss in the third quarter of 2024 was $21.4 million, compared with a net loss of $30.4 million in the third quarter of 2023. Non-GAAP net loss in the third quarter of 2024 was $15.2 million compared with a non-GAAP net loss of $24.2 million in the third quarter of 2023.

Loss from operations in the third quarter of 2024 was $24.7 million, compared with operating loss of $28.0 million in the third quarter of 2023. Non-GAAP loss from operations in the third quarter of 2024 was $18.4 million, compared with non-GAAP operating loss of $21.8 million in the third quarter of 2023. GAAP and non-GAAP research and development (R&D) expenses for the third quarter of 2024 increased 4 percent to $34.7 million, compared with $33.3 million in the same period in 2023.
 
The company reported that it ended the third quarter of 2024 with approximately $267.2 million in cash and cash equivalents, short-term investments and restricted cash. Glaukos also raised 2024 net sales guidance to a range of $377 million to $379 million, compared with $370 million to $376 million previously.