Q1 2025 Glaukos Corp Earnings Call Transcript
Key Points
- Glaukos Corp (GKOS) reported record first quarter consolidated net sales of $106.7 million, marking a 25% increase on a reported basis and 26% on a constant currency basis compared to the previous year.
- The company reaffirmed its full-year 2025 net sales guidance range of $475 million to $485 million, indicating confidence in its growth trajectory.
- Strong performance was driven by the adoption of iDose TR and robust growth in both US and international glaucoma franchises.
- The US glaucoma franchise achieved record first quarter net sales of $59.1 million, with a 41% year-over-year growth, primarily due to the success of iDose TR.
- Glaukos Corp (GKOS) maintains a strong capital position with over $303 million in cash equivalents and no debt, allowing for continued investment in growth initiatives.
- The implementation of five MAC LCDs in late 2024 has caused market turbulence, impacting the use of two main surgical devices in the same procedure, which is expected to continue throughout 2025.
- The company faces potential headwinds from the trialing of new competitive products in major international markets.
- The Corneal Health franchise experienced challenges due to the impact of MDRP, affecting realized revenues.
- There is ongoing uncertainty regarding the global macroeconomic environment, which could impact future performance.
- The company is navigating complex reimbursement dynamics for iDose TR, with varying levels of progress across different MAC regions.
Welcome to Glaukos Corporation first quarter 2025 financial results conference call. Copies of the company's press release and quarterly summary documents, both issued after the market closed today, are available at www.glaukos.com.
(Operator Instructions) This call is being recorded and an archived replay will be made available on the online in the investor relations section of www.glaukos.com.
I will now turn today's call over to Chris Lewis, Vice President of Investor Relations and corporate affairs. Please go ahead.
Thank you and good afternoon. Joining me today are Glaukos Chairman and CEO Tom Burns; President and COO of Joe Gilliam; and CFO Alex Thurman.
Similar to prior quarters, the company has posted a document on its investor relations website under the Financials and filings Quarterly results section titled Quarterly Summary. This document is
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