Filing Flows › Glaukos (GKOS) › Q4 2025
Glaukos (GKOS) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 23, 2026
Glaukos (GKOS) reported revenue of $143M for the fourth quarter 2025 (Q4 2025), +36% from a year earlier and +7% from the quarter before. Operating margin was -97.7%, net loss $134M (93.4% of revenue).
Glaukos, Q4 2025: revenue $143M (+36% year over year), operating margin -97.7%, net loss $134M, operating cash flow $6.8M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $143M | +7% | +36% |
| Operating profit | −$140M | — | — |
| Net earnings | −$134M | — | — |
| Operating cash flow | $6.8M | — | 13× |
| Free cash flow | $3.9M | — | — |
What changed
Revenue was $143.1M in Q4 2025, up 36% year over year and up 7% from the previous quarter. Glaucoma was the largest line at 83% of revenue.
Operating costs exceeded revenue by $139.9M, an operating margin of -97.7%. The fastest-growing cost line was SG&A (+37%). The quarter ended with a net loss of $133.7M, wider than the previous quarter's $16.2M loss.
Operating cash flow was $6.8M (up 1250% year over year). Non-cash charges added back $12.2M of depreciation and amortization and $17.3M of share-based compensation. Working capital and other items added $111.0M. Capital expenditures of $2.9M left free cash flow of $3.9M.
Questions
What was Glaukos' revenue in the fourth quarter 2025?
Glaukos (GKOS) reported revenue of $143M for the fourth quarter 2025 (Q4 2025), +36% from a year earlier and +7% from the quarter before.
Was Glaukos profitable in the fourth quarter 2025?
Operating loss was $140M (-97.7% of revenue) and net loss $134M.
Source: Glaukos 10-K on SEC EDGAR.