GLAUKOS CORPORATIO N GAAP to Non-GAAP Reconciliations
(in thousands, except per share amounts and percentage data)
(unaudited)
Q3 2024
GAAP
Adjustments
Non-GAAP
Cost of sales
$
22,584
$
(5,523)
(a)
$
17,061
Gross Margin
76.6%
5.8%
82.4%
Operating expenses:
Selling, general and administrative
$
64,000
$
(705)
(b)
$
63,295
Loss from operations
$
(24,660)
$
6,228
$
(18,432)
Net loss
$
(21,409)
$
6,228
(c)
$
(15,181)
Basic and diluted net loss per share
$
(0.39)
$
0.11
$
(0.28)
Q3 2023
GAAP
Adjustments
Non-GAAP
$
18,510
$
(5,523) (a)
$
12,987
76.3%
7.1%
83.4%
$
54,247
$
(705) (b)
$
53,542
$
(28,010)
$
6,228
$
(21,782)
$
(30,444)
$
6,228
(c)
$
(24,216)
$
(0.63)
$
0.13
$
(0.50)
Cost of sales adjustment related to amortization of developed technology intangible assets associated with the acquisition of Avedro, Inc. (Avedro) of $5.5 million.
Avedro acquisition-related amortization expense of customer relationship intangible assets of $0.7 million.
Includes total tax effect for non-GAAP pre-tax adjustments. For non-GAAP adjustments associated with the U.S., the tax effect is $0 given the Company's U.S. taxable loss positions in both 2024 and 2023.
GLAUKOS CO RPO RATIO N
GAAP to Non-GAAP Reconciliations
(in thousands, except per share amounts and percentage data)
(unaudited)
Year-to-Date Q3 2024
GAAP
Adjust ment s
Non-GAAP
Cost of sales
$
65,392
$
(16,569) (a)
$
48,823
Gross Margin
76.5%
5.9%
82.4%
Operating expenses:
Selling, general and administrative
$
192,163
$
(2,115) (b)
$
190,048
Loss from operations
$
(93,700)
$
18,684
$
(75,016)
Non-operating income (expense):
Charges associated with convertible senior notes
$
(18,012)
$
18,012
(c)
$
-
Net loss
$
(112,792)
$
36,696
(d)
$
(76,096)
Basic and diluted net loss per share
$
(2.18)
$
0.71
$
(1.47)
Year-to-Date Q3 2023
GAAP
Adjustments
Non-GAAP
$
56,684
$
(16,569) (a)
$
40,115
75.6%
7.1%
82.7%
$
161,034
$
(2,115) (b)
$
158,919
$
(90,078)
$
18,684
$
(71,394)
$
-
$
-
$
-
$
(97,882)
$
18,684
(d)
$
(79,198)
$
(2.03)
$
0.39
$
(1.64)
Cost of sales adjustment related to amortization of developed technology intangible assets associated with the acquisition of Avedro, Inc. (Avedro) of $16.6 million.
Avedro acquisition-related amortization expense of customer relationship intangible assets of $2.1 million.
Expenses associated with the exchange of convertible senior notes, consisting of a non-cash inducement charge of $17.4 million and direct transaction costs of $0.6 million.
Includes total tax effect for non-GAAP pre-tax adjustments. For non-GAAP adjustments associated with the U.S., the tax effect is $0 given the Company's U.S. taxable loss positions in both 2024 and 2023.
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Glaukos Corporation published this content on November 04, 2024, and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on November 04, 2024 at 22:13:48.992.
Glaukos Corporation is an ophthalmic pharmaceutical and medical technology company. It develops novel, dropless therapies and commercializing associated products for the treatment of glaucoma, corneal disorders and retinal disease. Its product candidates include Micro-Invasive Glaucoma Surgery products that involve the insertion of a micro-scale device designed to reduce intraocular pressure (IOP) by restoring the natural aqueous humor outflow pathways for patients suffering from glaucoma and procedural pharmaceuticals based on an intracameral drug delivery technology designed to reduce IOP by delivering therapeutic levels of glaucoma medication from inside the eye over an extended period of time. Its products include transdermal pharmaceuticals that are applied to the eyelid and designed to treat glaucoma, dry eye, presbyopia and other ocular surface diseases and disorders and micro-invasive, bio-erodible sustained release drug delivery implants to improve the vision of patients.