Glaukos Corporation (NYSE: GKOS), a company specializing in ophthalmic medical technology and pharmaceuticals, has announced its preliminary unaudited net sales for the fourth quarter and full year ending December 31, 2023. The company expects total net sales for the fourth quarter to exceed $81 million and for the full year to surpass $313 million.
Furthermore, Glaukos reaffirms its 2024 net sales guidance range, projecting it to be between $350 million and $360 million. This announcement comes as the company continues its focus on developing and commercializing innovative therapies for the treatment of glaucoma, corneal disorders, and retinal diseases.
Chris Lewis, Vice President of Investor Relations & Corporate Affairs, commented on the company's outlook, stating, "We are pleased with our preliminary fourth quarter and full-year 2023 net sales, which reflect strong performance across our product portfolio. As we look ahead to 2024, we remain confident in our ability to deliver on our revenue guidance and advance the standard of care for patients in need of treatments for ophthalmic conditions."
The market responded to the news, with the company's stock moving 5.3% and reaching a price of $86.36 per share.
Glaukos Corporation's full 8-K submission is available here.
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|
| Revenue (k) | $181,278 | $236,984 | $224,959 | $294,011 | $282,862 | $303,573 |
| Revenue Growth | n/a | 30.73% | -5.07% | 30.7% | -3.79% | 7.32% |
| Operating Margins | -7% | -21% | -55% | -11% | -28% | -41% |
| Net Margins | -7% | 7% | -53% | -17% | -35% | -43% |
| Net Income (k) | -$12,951 | $15,424 | -$120,348 | -$49,593 | -$99,195 | -$129,342 |
| Net Interest Expense (k) | $2,252 | $2,565 | $1,334 | $13,372 | $13,720 | $13,614 |
| Depreciation & Amort. (k) | $6,264 | $6,306 | $4,469 | $4,749 | $6,664 | $8,409 |
| Earnings Per Share | -$0.37 | $0.37 | -$2.7 | -$1.07 | -$2.09 | -$2.69 |
| Diluted Shares (k) | 35,317 | 41,145 | 44,497 | 46,423 | 47,444 | 48,675 |
| Free Cash Flow (k) | $8,549 | -$5,093 | -$29,923 | -$23,077 | -$63,348 | -$75,484 |
| Capital Expenditures | $10,315 | $4,724 | $6,935 | $47,785 | $30,265 | $24,255 |
| Current Ratio | 5.81 | 4.56 | 9.45 | 7.67 | 6.13 | 5.95 |
