GLAUKO S CO RPO RATIO N GAAP to Non -GAAP Reconciliations
(in thousands, except per share amounts and percentage data)
(unaudited)
Q 4 2023
Q 4 2022
GAAP
Adjust ment s
Non-GAAP
GAAP
Adjust ment s
Non-GAAP
Cost of sales
$
18,891
$
(5,523)
(a)
$
13,368
$
17,222
$
(5,533) (a)
$
11,689
Gross Margin
77.1%
6.7%
83.8%
75.8%
7.8%
83.6%
Operating expenses:
Selling, general and administrative
$
63,034
$
(705)
(b)
$
62,329
$
51,927
$
(782)
(b)
$
51,145
Loss from operations
$
(38,622)
$
6,228
$
(32,394)
$
(33,734)
$
6,315
$
(27,419)
Net loss
$
(36,779)
$
6,228
(c)
$
(30,551)
$
(31,460)
$
6,315
(c)
$
(25,145)
Basic and diluted net loss per share
$
(0.75)
$
0.12
$
(0.63)
$
(0.66)
$
0.13
$
(0.53)
Cost of sales adjustments related to the acquisition of Avedro, Inc. (Avedro), including amortization of developed technology intangible assets of $5.5 million in Q4 2023 and amortization of developed technology intangible assets and stock-based compensation expense related to replacement awards, totaling $5.5 million in Q4 2022.
Avedro acquisition-related expenses, including amortization expense of customer relationship intangible assets of $0.7 million in Q4 2023 and customer relationship intangible assets and stock-based compensation expense related to replacement awards of $0.8 million in Q4 2022.
Includes total tax effect for non-GAAPpre-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 2023 and 2022.
GLAUKO S CO RPO RATIO N
GAAP to Non -GAAP Reconciliations
(in thousands, except per share amounts and percentage data)
(unaudited)
Full Year 2023
Full Year 2022
GAAP
Adjust ment s
Non-GAAP
GAAP
Adjust ment s
Non-GAAP
Cost of sales
$
75,575
$
(22,092) (a)
$
53,483
$
68,979
$
(22,166)
(a)
$
46,813
Gross Margin
76.0%
7.0%
83.0%
75.6%
7.8%
83.5%
Operating expenses:
Selling, general and administrative
$
224,068
$
(2,820)
(b)
$
221,248
$
192,925
$
(3,315)
(b)
$
189,610
Research and development
$
138,768
$
-
$
138,768
$
123,271
$
(127)
(c)
$
123,144
Litigation-related settlement
$
-
$
-
$
-
$
(30,000)
$
30,000
(d)
$
-
Loss from operations
$
(128,700)
$
24,912
$
(103,788)
$
(82,313)
$
(4,392)
$
(86,705)
Net loss
$
(134,661)
$
24,912
(e)
$
(109,749)
$
(99,195)
$
(4,392)
(e)
$
(103,587)
Basic and diluted net loss per share
$
(2.78)
$
0.51
$
(2.27)
$
(2.09)
$
(0.09)
$
(2.18)
Cost of sales adjustments related to the acquisition of Avedro, Inc. (Avedro), including amortization of developed technology intangible assets
of $22.1 million in 2023 and amortization of developed technology intangible assets and stock-based compensation expense related to replacement awards, totaling $22.2 million in 2022.
Avedro acquisition-related expenses, including amortization expense of customer relationship intangible assets of $2.8 million in 2023 and customer relationship intangible assets and stock-based compensation expense related to replacement awards of $3.3 million in 2022.
Stock-basedcompensation expense related to replacement awards from the acquisition of Avedro.
Settlement proceeds received related to the Company's patent infringement litigation.
Includes total tax effect for non-GAAPpre-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 2023 and 2022.
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Glaukos Corporation published this content on
20 February 2024 and is solely responsible for the information contained therein. Distributed by
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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.