Filing Flows › Glaukos (GKOS) › Q3 2025
Glaukos (GKOS) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 31, 2025
Glaukos (GKOS) reported revenue of $134M for the third quarter 2025 (Q3 2025), +38% from a year earlier and +8% from the quarter before. Operating margin was -12.3%, net loss $16.2M (12.2% of revenue).
Glaukos, Q3 2025: revenue $134M (+38% year over year), operating margin -12.3%, net loss $16.2M, operating cash flow −$10.1M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $134M | +8% | +38% |
| Operating profit | −$16.4M | — | — |
| Net earnings | −$16.2M | — | — |
| Operating cash flow | −$10.1M | -245% | — |
What changed
Revenue was $133.5M in Q3 2025, up 38% year over year and up 8% from the previous quarter. Glaucoma was the largest line at 83% of revenue. Glaucoma added $34.2M year over year (up 45%), 93% of the total change.
Gross margin was 78.4%, up 1.8 points from a year earlier. Operating costs exceeded revenue by $16.4M, an operating margin of -12.3%. Operating expenses grew 23% against revenue growth of 38%. The quarter ended with a net loss of $16.2M, narrower than the previous quarter's $19.7M loss.
Operating cash flow was −$10.1M. Non-cash charges added back $9.1M of depreciation and amortization and $14.9M of share-based compensation. Working capital and other items used $17.9M. Capital expenditures of $1.6M exceeded it, leaving free cash flow of −$11.7M.
Questions
What was Glaukos' revenue in the third quarter 2025?
Glaukos (GKOS) reported revenue of $134M for the third quarter 2025 (Q3 2025), +38% from a year earlier and +8% from the quarter before.
Was Glaukos profitable in the third quarter 2025?
Operating loss was $16.4M (-12.3% of revenue) and net loss $16.2M.
Source: Glaukos 10-Q on SEC EDGAR.