GLAUKOS Business Summary

Glaukos Corporation (GKOS) is an ophthalmic pharmaceutical and medical technology leader that generates revenue through the commercialization of micro-scale surgical devices and sustained-release procedural pharmaceuticals. The company operates primarily through two segments: Glaucoma, which features the pioneering iStent family of Micro-Invasive Glaucoma Surgery (MIGS) devices and the recently launched iDose TR drug-eluting implant, and Corneal Health, which includes the iLink cross-linking platform and the Epioxa therapy for keratoconus. For the full year 2025, Glaukos reported preliminary net sales of approximately $507 million, a 32% year-over-year increase, and has issued 2026 revenue guidance of $600 million to $620 million. Positioned as a high-growth innovator that effectively created the MIGS category, Glaukos competes against diversified giants like Alcon, Johnson & Johnson Vision, and Bausch + Lomb, as well as specialized players such as Sight Sciences, maintaining its edge through a first-mover advantage and a robust pipeline of "dropless" therapeutic platforms. Founded in 1998 by a visionary team including Olav Bergheim, Richard L. Lindstrom, M.D., M. Humayun, M.D., Ph.D., and Yossi Mandel, Ph.D., the company is currently led by Chairman and CEO Thomas W. Burns, who has steered the firm since 2002 following leadership roles at Eyetech Pharmaceuticals and Bausch + Lomb. The executive suite includes President and COO Joseph E. Gilliam, a former Managing Director at JPMorgan who led the company's IPO, and Senior VP and CFO Alex R. Thurman, who brings extensive financial experience from Allergan and Deloitte. Technical innovation is overseen by Chief Development Officer Tomas Navratil, Ph.D., and EVP of New Technologies David S. Haffner. The company's governance is supported by a high-pedigree board featuring Lead Independent Director Mark J. Foley, Dr. Gilbert H. Kliman of InterWest Partners, and former Johnson & Johnson executive Denice M. Torres.