GKOS Glaukos Corporation

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Exhibit 99.1

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FOR IMMEDIATE RELEASE

Contact:

Chris Lewis

Vice President, Investor Relations & Corporate Affairs

(949) 481-0510

clewis@glaukos.com

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Glaukos Announces Fourth Quarter and Full Year 2024 Financial Results

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Aliso Viejo, CA – February 20, 2025 – 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, today announced financial results for the fourth quarter and full year ended December 31, 2024. Key highlights include:

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“Our record fourth quarter results cap off a successful year of global execution of our key commercial and development plans, leaving us well positioned to continue to drive the strong momentum in our business this year and beyond,” 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.”

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Fourth Quarter 2024 Financial Results

Net sales in the fourth quarter of 2024 of $105.5 million increased 28%, both on a reported and constant currency basis, compared to $82.4 million in the same period in 2023.

Gross margin for the fourth quarter of 2024 was approximately 73%, compared to approximately 77% in the same period in 2023. Non-GAAP gross margin for the fourth quarter of 2024 was approximately 82%, compared to approximately 84% in the same period in 2023.

Selling, general and administrative (SG&A) expenses for the fourth quarter of 2024 increased 9% to $69.0 million, compared to $63.0 million in the same period in 2023. Non-GAAP SG&A expenses for the fourth quarter of 2024 increased 10% to $68.6 million, compared to $62.3 million in the same period in 2023.

GAAP and non-GAAP research and development (R&D) expenses for the fourth quarter of 2024 decreased 1% to $36.5 million, compared to $37.1 million in the same period in 2023.

Loss from operations in the fourth quarter of 2024 was $28.7 million, compared to operating loss of $38.6 million in the fourth quarter of 2023. Non-GAAP loss from operations in the fourth quarter of 2024 was $18.3 million, compared to non-GAAP operating loss of $32.4 million in the fourth quarter of 2023.

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Net loss in the fourth quarter of 2024 was $33.6 million, or ($0.60) per diluted share, compared to net loss of $36.8 million, or ($0.75) per diluted share, in the fourth quarter of 2023. Non-GAAP net loss in the fourth quarter of 2024 was $22.2 million, or ($0.40) per diluted share, compared to non-GAAP net loss of $30.6 million, or ($0.63) per diluted share, in the fourth quarter of 2023.

Full Year 2024 Financial Results

Net sales in 2024 of $383.5 million increased 22%, both on a reported and constant currency basis, compared to $314.7 million in 2023.

Gross margin for 2024 was approximately 75%, compared to approximately 76% in 2023. Non-GAAP gross margin for 2024 was approximately 82%, compared to approximately 83% in 2023.

SG&A expenses in 2024 increased 17% to $261.2 million, compared to $224.1 million in 2023. Non-GAAP SG&A expenses in 2024 increased 17% to $258.6 million, compared to $221.2 million in 2023.

GAAP and non-GAAP R&D expenses in 2024 decreased 2% to $136.4 million, compared to $138.8 million in 2023.

Loss from operations in 2024 was $122.4 million, compared to operating loss of $128.7 million in 2023. Non-GAAP loss from operations in 2024 was $93.3 million, compared to non-GAAP operating loss of $103.8 million in 2023.

Net loss in 2024 was $146.4 million, or ($2.77) per diluted share, compared to net loss of $134.7 million, or ($2.78) per diluted share, in 2023. Non-GAAP net loss in 2024 was $98.3 million, or ($1.86) per diluted share, compared to non-GAAP net loss of $109.7 million, or ($2.27) per diluted share, in 2023.

Included in non-GAAP loss from operations, non-GAAP net loss and non-GAAP EPS for 2024 and 2023 are acquired IPR&D charges of $14.2 million and $5.0 million, respectively, which caused the non-GAAP loss per diluted share to have an additional loss of ($0.27) and ($0.11) in each of these respective periods.

The company ended the fourth quarter of 2024 with approximately $324 million in cash and cash equivalents, short-term investments and restricted cash, and no debt.

2025 Revenue Guidance

The company expects 2025 net sales to be in the range of $475 million to $485 million based on the latest foreign currency exchange rates.

Webcast & Conference Call

The company will host a conference call and simultaneous webcast today at 1:30 p.m. PT (4:30 p.m. ET) to discuss the results and provide additional information about the company’s financial outlook. A link to the webcast is available on the company’s website at http://investors.glaukos.com. To participate in the conference call, please dial 888-210-2212 (U.S.) or 646-960-0390 (international) and enter Conference ID 7935742. A replay of the webcast will be archived on the company’s website following completion of the call.

Quarterly Summary Document

The company has posted a document on its Investor Relations website under the “Financials & Filings – Quarterly Results” section titled “Quarterly Summary.” This Quarterly Summary document is designed to provide the investment community with a summarized and easily accessible reference document that details

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the key facts associated with the quarter, the state of the company’s business objectives and strategies and any forward statements or guidance the company may make. This document is provided alongside the company’s earnings press release and is designed to be read by investors before the regularly scheduled quarterly conference call. As such, today’s conference call will be in a format primarily consisting of a questions and answers session, during which Glaukos will address any queries investors have regarding the company’s results. It is the company’s goal that this format will make its quarterly earnings process more efficient and impactful for the investment community going forward.

About Glaukos

Glaukos (www.glaukos.com) is an ophthalmic pharmaceutical and medical technology company focused on developing and commercializing novel therapies for the treatment of glaucoma, corneal disorders and retinal diseases. Glaukos first developed Micro-Invasive Glaucoma Surgery (MIGS) as an alternative to the traditional glaucoma treatment paradigm, launching its first MIGS device commercially in 2012. In 2024, Glaukos commenced commercial launch activities for iDose^® TR, a first-of-its-kind, long-duration, intracameral procedural pharmaceutical designed to deliver 24/7 glaucoma drug therapy inside the eye for extended periods of time. Glaukos also markets the only FDA-approved corneal cross-linking therapy utilizing a proprietary bio-activated pharmaceutical for the treatment of keratoconus, a rare corneal disorder. Glaukos continues to successfully develop and advance a 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.

Forward-Looking Statements

This communication contains “forward-looking statements” within the meaning of federal securities laws. All statements other than statements of historical facts included in this press release that address activities, events or developments that we expect, believe or anticipate will or may occur in the future are forward-looking statements. These statements are based on management’s current expectations, assumptions, estimates and beliefs. Although we believe that we have a reasonable basis for forward-looking statements contained herein, we caution you that they are based on current expectations about future events affecting us and are subject to risks, uncertainties and factors relating to our operations and business environment, all of which are difficult to predict and many of which are beyond our control, that may cause our actual results to differ materially from those expressed or implied by forward-looking statements in this press release. These potential risks and uncertainties that could cause actual results to differ materially from those described in forward-looking statements include, without limitation, our ability to successfully commercialize our iDose TR therapy; the impact of general macroeconomic conditions including foreign currency fluctuations and future health crises on our business; our ability to continue to generate sales of our commercialized products and develop and commercialize additional products; our dependence on a limited number of third-party suppliers, some of which are single-source, for components of our products; the occurrence of a crippling accident, natural disaster, or other disruption at our primary facility, which may materially affect our manufacturing capacity and operations; securing or maintaining adequate coverage or reimbursement by third-party payors for procedures using the iStent, the iStent inject W, iAccess, iStent infinite, iDose TR, our corneal cross-linking products or other products in development, and our compliance with the requirements of participation in federal healthcare programs such as Medicare and Medicaid; our compliance with federal, state and foreign laws and regulations for the approval and sale and marketing of our products and of our manufacturing processes; the lengthy and expensive clinical trial process and the uncertainty of timing and outcomes from any particular clinical trial or regulatory approval processes; the risk of recalls or serious safety issues with our products and the uncertainty of patient outcomes; our ability to protect our information systems against cyber threats and cybersecurity incidents,

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and to comply with state, federal and foreign data privacy laws and regulations; our ability to protect, and the expense and time-consuming nature of protecting our intellectual property against third parties and competitors and the impact of any claims against us for infringement or misappropriation of third party intellectual property rights and any related litigation; and our ability to service our indebtedness. These and other known risks, uncertainties and factors are described in detail under the caption “Risk Factors” and elsewhere in our filings with the Securities and Exchange Commission (SEC), including in our Quarterly Report on Form 10-Q for the quarter ended September 30, 2024, which was filed with the SEC on November 5, 2024, and our Annual Report on Form 10-K for the year ended December 31, 2024, which is expected to be filed with the SEC by March 3, 2025. Our filings with the SEC are available in the Investor Section of our website at www.glaukos.com or at www.sec.gov. In addition, information about the risks and benefits of our products is available on our website at www.glaukos.com. All forward-looking statements included in this press release are expressly qualified in their entirety by the foregoing cautionary statements. You are cautioned not to place undue reliance on the forward-looking statements in this press release, which speak only as of the date hereof. We do not undertake any obligation to update, amend or clarify these forward-looking statements whether as a result of new information, future events or otherwise, except as may be required under applicable securities law.

Statement Regarding Use of Non-GAAP Financial Measures

To supplement the consolidated financial results prepared in accordance with Generally Accepted Accounting Principles ("GAAP"), the Company uses certain non-GAAP historical financial measures. Management makes adjustments to the GAAP measures for items (both charges and gains) that (a) do not reflect the core operational activities of the Company, (b) are commonly adjusted within the Company's industry to enhance comparability of the Company's financial results with those of its peer group, or (c) are inconsistent in amount or frequency between periods (albeit such items are monitored and controlled with equal diligence relative to core operations) (“Non-GAAP Purposes”). The Company uses the term "Non-GAAP" to exclude certain expenses, gains and losses to achieve the Non-GAAP Purposes, including external acquisition-related costs incurred to effect a business combination; amortization of intangible assets acquired in a business combination, asset purchase transaction or other contractual relationship; impairment of goodwill and intangible assets; certain in-process R&D charges; fair value adjustments to contingent consideration liabilities and pre-acquisition contingencies arising from a business combination; integration and transition costs related to business combinations; fair market value adjustments to inventories acquired in a business combination or asset purchase transaction; restructuring charges, duplicative operating expenses, or asset write-offs (or reversals) associated with exiting or significantly downsizing a business; unusual non-recurring expenses associated with inventory write-downs; gain or loss from the sale of a business; gain or loss on the mark-to-market adjustment, impairment, or sale of long-term investments; mark-to-market adjustments on derivative instruments that hedge income or expense exposures in a future period; significant legal litigation costs and/or settlement expenses or proceeds; legal and other associated expenses that are both unusual and significant related to governmental or internal inquiries; expenses, acceleration of amortization of debt issuance costs and gain or loss on debt extinguishment associated with the exchange or redemption of convertible senior notes; and significant discrete income and other tax adjustments related to transactions as well as changes in estimated acquisition-date tax effects associated with business combinations, and the impact from implementation of tax law changes and settlements. See “GAAP to Non-GAAP Reconciliations” for a reconciliation of each non-GAAP measure presented to the comparable GAAP financial measure.

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In addition, in order to remove the impact of fluctuations in foreign currency exchange rates, the Company also presents certain net sales information on a constant currency basis, which represents the outcome that would have resulted had exchange rates in the current period been the same as the average exchange rates

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in effect in the comparable prior period.  See “Reported Sales vs. Prior Periods” for a presentation of certain net sales information on a reported, GAAP and a constant currency basis.

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GLAUKOS CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(unaudited)

(in thousands, except per share amounts)

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GLAUKOS CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands, except par values)

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GLAUKOS CORPORATION

GAAP to Non-GAAP Reconciliations

(in thousands, except per share amounts and percentage data)

(unaudited)

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GLAUKOS CORPORATION

GAAP to Non-GAAP Reconciliations

(in thousands, except per share amounts and percentage data)

(unaudited)

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(1) Operational growth excludes the effect of translational currency

(2) Calculated by converting the current period numbers using the prior period’s average foreign exchange rates

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(1) Operational growth excludes the effect of translational currency

(2) Calculated by converting the current period numbers using the prior period’s average foreign exchange rates

Exhibit 99.2

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GLAUKOS CORPORATION (NYSE: GKOS)

FOURTH QUARTER AND FULL YEAR 2024 IN REVIEW

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Important Information

This document is intended to be read by investors in advance of regularly scheduled quarterly conference calls and was designed to provide a review of Glaukos Corporation’s recent financial and operational performance and general business outlook.  

Please see “Forward-Looking Statements” and “Statement Regarding Use of Non-GAAP Financial Measures” in the “Additional Information” section of this document.

Conference Call Information

Date: February 20, 2025

Time: 4:30 p.m. ET / 1:30 p.m. PT

Dial-in numbers: 1-888-210-2212 (U.S.), 1-646-960-0390 (International)

Confirmation ID: 7935742

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FOURTH QUARTER AND FULL YEAR 2024 FINANCIAL RESULTS SUMMARY

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See “Statement Regarding Use of Non-GAAP Financial Measures” and the Non-GAAP reconciliations included within the Additional Information section of this document. Reconciliations for each of constant currency revenue growth, Non-GAAP Gross Margin, and the other non-GAAP financial measures disclosed in this document to the most directly comparable GAAP financial measure are provided.

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Revenue Performance & Commercial Overview

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Global Consolidated Revenue Performance

Glaukos reported record fourth quarter net revenues of $105.5 million that were up 28% versus 4Q 2023. Our fourth quarter performance reflected continued acceleration of our business driven by solid execution across our global Glaucoma and Corneal Health franchises.  

For fiscal year 2024, net revenues were approximately $383 million, up 22% compared to net revenues of approximately $315 million in 2023.

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Franchise Revenue Performance

U.S. Glaucoma

Our fourth quarter U.S. Glaucoma net revenues were approximately $56.3 million, representing year-over-year growth of 45% versus 4Q 2023 driven by growing contributions from iDose® TR.

For fiscal year 2024, U.S. Glaucoma net revenues were approximately $199.6 million, representing year-over-year growth of 32% versus fiscal year 2023.

During the fourth quarter, we successfully advanced execution of our detailed launch plans for iDose TR, a first-of-its-kind intracameral procedural pharmaceutical that was designed to continuously deliver glaucoma drug therapy for up to three years. Most importantly, clinical outcomes and product feedback from a growing number of cases and trained surgeons continue to be very positive and reaffirm our view that with the launch of iDose TR, we have the potential to reshape glaucoma management as we know it today.

The access for and utilization of iStent infinite for glaucoma patients that have failed medical and surgical therapy continues to expand as our ongoing clinical education efforts and an improving market access landscape take hold.

International Glaucoma

Our fourth quarter International Glaucoma net revenues were approximately $27.9 million, representing year-over-year growth of 28% on a reported basis, or 29% on a constant currency basis, versus 4Q 2023. The strong growth internationally during the fourth quarter was broad-based as we continue to scale our international infrastructure and increasingly drive MIGS forward as the standard of care in each region and major market in the world. Consistent with prior quarters in 2024, our new French Health Authority rebate agreement was favorable to our fourth quarter reported revenues. This year-over-year growth tailwind will sunset in 2025.

For fiscal year 2024, International Glaucoma net revenues were approximately $103.7 million, representing year-over-year reported growth of 21%, or 23% on a constant currency basis, versus fiscal year 2023.  

We remain in the early stages of expanding our IG and product portfolio initiatives globally ahead of anticipated new product approvals and expanding market access in the years to come. As previously discussed, we expect the trialing of new competitive products in some of our major international markets may become an increasing headwind over the course of 2025, alongside the material foreign currency exchange headwinds that emerged at the end of 2024 and have continued into 2025.

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Corneal Health

Our fourth quarter Corneal Health net revenues were approximately $21.4 million, representing a year-over-year decline of 2% versus 4Q 2023, including U.S. Photrexa® net sales of $18.8 million. As discussed throughout 2024, these fourth quarter results reflect the impact to Photrexa realized revenues as a result of our entry as a company into the Medicaid Drug Rebate Program (MDRP).

For fiscal year 2024, Corneal Health net revenues were approximately $80.2 million, representing year-over-year reported growth of 3% versus fiscal year 2023. U.S Photrexa sales in 2024 were $68.6 million, an increase of 4% compared to 2023.

We will continue to focus on expanding access for keratoconus patients suffering from this rare disease.

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Additional Commercial Updates & Commentary

We have had several additional positive commercial updates worth highlighting here:

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2025 Revenue Guidance Introduction

Glaukos expects full-year 2025 global consolidated net sales of $475 - $485 million. This guidance attempts to take into consideration:

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Research & Development / Pipeline Overview

Pipeline Summary

Our five key dropless technology therapy platforms designed to disrupt traditional treatment paradigms and generate cascades of future innovation are as follows:

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Key R&D and Pipeline Updates

We are continuing to prudently invest in and advance our fulsome pipeline of core novel platforms, supported by more than $700 million investment into our R&D programs since 2018 alone. Recent updates in our pipeline include:

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Product / Pipeline Chart

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Other Financial Performance Overview

As a reminder, we discuss our financial performance on a non-GAAP basis and summarize our GAAP performance. We encourage investors to review our GAAP to non-GAAP reconciliation which can be found in our earnings press release, the Additional Information section contained herein, as well as the Investor Relations section of our website.

Fourth quarter 2024 financial performance summary:

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Gross Margin (Non-GAAP) ​ ​ ​ ​	4Q 2024: 82% 4Q 2023: 84% YoY ∆: -150 bps	● Please note that our non-GAAP adjustments to cost of goods sold include substantial amounts related to Avedro acquisition accounting ​
SG&A (Non-GAAP) ​	4Q 2024: $68.6M 4Q 2023: $62.3M YoY ∆: +10%	● +8% sequential increase vs $63.3M in 3Q 2024 ● YoY and QoQ increases primarily reflects commercial and G&A investments globally and new product launch activities ​
R&D (Non-GAAP) ​ ​	4Q 2024: $36.5M 4Q 2023: $37.1M YoY ∆: (1%)	● +5% sequential increase vs $34.7M in 3Q 2024 ● YoY decrease primarily reflects shift of iDose TR-related costs from R&D in prior year period to commercial post-approval ● QoQ increase reflects continued investment in and advancement of R&D programs
SG&A + R&D (Non-GAAP) ​ ​	4Q 2024: $105.1M 4Q 2023: $99.4M YoY ∆: +6%	● +7% sequential increase vs $98.0M in 3Q 2024 ● FY 2024 SG&A + R&D expenses of $395.1M increased 10% vs FY 2023 SG&A + R&D expenses of $360.0M
Earnings ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​	Op Loss (Non-GAAP) 4Q 2024 ($18.3M) 4Q 2023: ($32.4M) ​ Net Loss (Non-GAAP) 4Q 2024: ($22.2M) 4Q 2023: ($30.6M) ​ Diluted EPS (Non-GAAP) 4Q 2024: ($0.40) 4Q 2023: ($0.63)	● Included in non-GAAP loss from operations, non-GAAP net loss and non-GAAP EPS for the fourth quarter of 2023 is an acquired in-process R&D (IPR&D) charge of $2.0 million, which caused the non-GAAP loss per diluted share to have an additional loss of ($0.05) in the fourth quarter of 2023
CapEx ​ ​	4Q 2024: $1.7M 4Q 2023: $4.2M YoY ∆: (-$2.5M) ​	● Capital expenditures moderated to levels more consistent with historical norms ● YoY decrease reflects the substantial completion of Aliso Viejo, CA and Burlington, MA facilities ​
Cash ​ ​ ​	4Q 2024: $323.6M 3Q 2024: $267.2M QoQ ∆: +$56.4M YoY ∆: +$22.4M	● Operating expenses, capital expenditures and changes in working capital ● Capped call unwind transactions generated cash proceeds of $53.2 million in 4Q 2024 ​

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Other Important Updates

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Delivering the Portfolio for Sustainable Long-Term Growth & Value Creation

While we execute commercially, we continue to successfully invest in and advance our robust pipeline of novel, promising platform technologies that we believe can significantly expand our addressable markets and leverage our commercial platform to fundamentally transform our company over time.

We believe the strong financial profile and capital position we’ve built provides a solid foundation that allows us to remain on offense when it comes to successfully investing for our future, leaving us well-positioned for the next phase of our pioneering journey as we target clinical, regulatory, and commercial milestones in the years ahead.

Our mission is to disrupt conventional treatment paradigms to advance the existing standard of care and enrich the lives and treatment alternatives for patients worldwide suffering from sight-threatening chronic eye diseases. We believe our platforms and product candidates have the ability to generate a robust cadence of new product introductions over the coming years that can generate layers of future growth.

2024 was an important year for Glaukos as we successfully executed on our core business key strategic objectives while achieving notable pipeline advancements and milestones that leave us excited about our prospects and well-positioned for the next phase of our pioneering journey.

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In 2025, we aim to accomplish the following key pipeline milestones:

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