ALISO VIEJO, Calif.—Glaukos Corp. (NYSE: GKOS), an ophthalmic medical technology and pharmaceutical company focused on novel therapies for the treatment of glaucoma, corneal disorders and retinal diseases, announced financial results for the third quarter ended Sept.30, 2023. Among the key highlights, the company reported net sales of $78.0 million, an increase of 10 percent year-over-year on a reported basis and 9 percent on a constant currency basis. Glaucoma net sales of $58.3 million in Q3 2023 increased 9 percent year-over-year while corneal health net sales of $19.7 million in Q3 2023 increased 12 percent year-over-year.

Glaukos raised its 2023 net sales guidance to $307 million to $310 million, compared to $304 million to $308 million previously.

“Our solid third quarter results reflect successful execution of our global commercial strategies,” said Thomas Burns, Glaukos chairman and CEO. “We continue to successfully advance our robust pipeline of novel, dropless platform technologies designed to meaningfully advance the standard of care and improve outcomes for patients suffering from chronic eye diseases.”

The company noted that goss margin for the third quarter of 2023 was approximately 76 percent, compared to approximately 76 percent in the same period in 2022. Non-GAAP gross margin for the third quarter of 2023 was approximately 83 percent, compared to approximately 84 percent in the same period in 2022.

GAAP and non-GAAP research and development (R&D) expenses for the third quarter of 2023 increased 15 percent to $33.3 million, compared to $28.9 million in the same period in 2022.

Loss from operations in the third quarter of 2023 was $28.0 million, compared to operating loss of $21.6 million in the third quarter of 2022. Non-GAAP loss from operations in the third quarter of 2023 was $21.8 million, compared to non-GAAP operating loss of $15.3 million in the third quarter of 2022. Net loss in the third quarter of 2023 was $30.4 million,  compared to net loss of $27.6 million in the third quarter of 2022. 

The company ended the third quarter of 2023 with approximately $307 million in cash and cash equivalents, short-term investments and restricted cash.