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)

  1. Cost of sales adjustment related to amortization of developed technology intangible assets associated with the acquisition of Avedro, Inc. (Avedro) of $5.5 million.
  2. Avedro acquisition-related amortization expense of customer relationship intangible assets of $0.7 million.
  3. 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)

  1. Cost of sales adjustment related to amortization of developed technology intangible assets associated with the acquisition of Avedro, Inc. (Avedro) of $16.6 million.
  2. Avedro acquisition-related amortization expense of customer relationship intangible assets of $2.1 million.
  3. 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.
  4. 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.