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)

  1. 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.
  2. 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.
  3. 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)

  1. 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.
  2. 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.
  3. Stock-basedcompensation expense related to replacement awards from the acquisition of Avedro.
  4. Settlement proceeds received related to the Company's patent infringement litigation.
  5. 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 Public, unedited and unaltered, on 12 March 2024 09:55:04 UTC.