Glaukos Corp (NYSE:GKOS)
$ 127.64 1.37 (1.08%) Market Cap: 7.01 Bil Enterprise Value: 6.83 Bil PE Ratio: 0 PB Ratio: 10.52 GF Score: 64/100
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Q1 2024 Glaukos Corp Earnings Call Transcript

May 01, 2024 / 08:30PM GMT
Release Date Price: $98.91 (+3.03%)

Key Points

Positve
  • Glaukos Corp reported record first quarter consolidated net sales of $85.6 million, up 16% versus the year ago quarter.
  • Full year 2024 net sales guidance range increased to $357 million to $365 million, reflecting strong start to the year.
  • 20% year-over-year growth achieved in both U.S. and international glaucoma franchises.
  • Successful initial phases of controlled launch plan for Eidos TR, with positive feedback and outcomes from early access surgeons.
  • Significant advancements in market access initiatives, including CMS assigning a unique permanent J code for Eidos TR, effective July 1, 2024.
Negative
  • Challenges with foreign currency fluctuations impacting business operations.
  • MDRP entry related headwinds expected to persist throughout the year, impacting corneal health franchise.
  • Increased competition in the glaucoma treatment market could impact market share.
  • Dependence on successful commercialization and adoption of new products like Eidos TR for future growth.
  • Potential volatility in gross margins due to inefficiencies as new products like Eidos TR ramp up.
Operator

Welcome to Glaukos Corporation's First Quarter 2024 financial results conference call. Copies of the Company's press release and quarterly summary documents both issued after the market close today are available at www.glaukos.com. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question and answer session if you would like to ask a question, simply press star followed by the number one on your telephone keypad. You withdraw your question, press star one. This call is being recorded and an archived replay will be available online in the Investor Relations section at www.glaukos.com.

I will now turn the call over to Chris Lewis, Vice President of Investor Relations and Corporate Affairs.

Chris Lewis
Glaukos Corporation - VP of IR & Corporate Affairs

Thank you and good afternoon. Joining me today our Glaukos Chairman and CEO, Tom Burns, President and COO, Joe

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