Glaukos

What Glaukos does

Glaukos Corporation (NYSE: GKOS) is a publicly-traded ophthalmic medical technology and pharmaceutical company founded in 1998 and headquartered in Aliso Viejo, California. The company pioneered the micro-invasive glaucoma surgery (MIGS) category and now operates five proprietary technology platforms: (1) the iStent Micro-Surgical Device Platform (iStent, iStent inject W, iStent infinite, iAccess), (2) the iDose Sustained-Release Pharmaceutical Platform, (3) the iLution Transdermal Drug Delivery Platform, (4) the iLink Bio-Activated Pharmaceutical Platform (Epioxa, Photrexa, KXL System with riboflavin formulations), and (5) the Retina XR Bio-Erodible Platform. Core commercial products include the iStent trabecular micro-bypass stent family (over 3 million implants globally), iDose TR (FDA-approved travoprost intracameral implant for sustained IOP reduction), Epioxa (first FDA-approved epithelium-on, incision-free corneal cross-linking therapy for keratoconus, approved October 2025), Mitosol (ophthalmic mitomycin C), and the KXL System.

The company serves ophthalmic surgeons, eye care professionals, and ultimately patients with chronic eye diseases including open-angle glaucoma, ocular hypertension, progressive keratoconus, and (in development) retinal diseases such as AMD and DME. Revenue is generated through one-time device and pharmaceutical product sales via a direct sales organization covering 17 countries with more than 250 commercial sales personnel, supplemented by international distributor relationships reaching 30+ countries. Specialty pharmaceutical distribution (e.g., Epioxa) flows through a single-source specialty pharmacy partnership with Orsini Healthcare. FY2025 net sales reached $507.4 million (up 32% year-over-year), Q1 2026 net sales reached $150.6 million (up 41% year-over-year), and FY2026 guidance has been raised to $620–$635 million. The company reinvests approximately 35% of sales into R&D, has spent over $800 million cumulatively since 2018, and maintains a pipeline of 14+ candidates across the five platforms.

Name

Glaukos

Legal name

Glaukos Corporation

Website

https://glaukos.com

Company type

Public

Founded year

1998

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Glaukos is an ophthalmic medical technology and pharmaceutical company pioneering micro-invasive glaucoma surgery (MIGS) and sustained-release drug delivery for glaucoma, keratoconus, and retinal diseases. It serves ophthalmologists across 17 countries via direct sales and reaches 30+ countries through distributors.

Ownership category

akta.pro rank

Product category

Ophthalmic Medical Devices

NAICS

Ophthalmic Goods Manufacturing (339115), Surgical and Medical Instrument Manufacturing (339112)

SIC

Surgical & Medical Instruments & Apparatus (3841), Ophthalmic Goods (3851), Pharmaceutical Preparations (2834), Orthopedic, Prosthetic & Surgical Appliances & Supplies (3842)

akta.pro primary industry

Glaucoma Diagnostics & Surgical Devices (Tonometry, Gonioscopy, MIGS, Drainage Implants, Laser Trabeculoplasty) (HLAHAJAI)

akta.pro secondary industries

Cornea & External Disease Surgical Devices (Keratoplasty Tools, Cross-Linking Systems, Amniotic Membrane Delivery) (HLAHAJAK), Vitreoretinal Surgical Devices (Vitrectomy Systems, Endolaser, Illumination, Tamponades) (HLAHAJAJ), Ocular Drug Delivery Devices (Eye Droppers/Inserts) (HLAHAIAL), Ophthalmology Pharmaceuticals (HLAIAAAL), Ophthalmology Specialty Pharmaceuticals (HLAIACAK)

Keywords

• Micro-invasive glaucoma surgery
• Ophthalmic medical devices
• Sustained-release drug delivery
• Corneal cross-linking
• Intracameral implants

Headquarters

HQ city

San Clemente

HQ country

United States

HQ region

North America

Offices9 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Supply Chain, Operations, Marketing or Sales

Revenue model

1. Medical Device Sales (iStent, iDose TR): Revenue from sale of micro-invasive glaucoma surgery devices and intracameral implants through direct sales force and distribution partners.
2. Pharmaceutical Products (Epioxa): Revenue from FDA-approved corneal cross-linking therapy for keratoconus, commercialized in early 2026.
3. Mitosol (Mitomycin C): FDA-approved antimetabolite for adjunctive use in glaucoma filtration surgery.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

Glaukos develops and commercializes novel ophthalmic therapies for chronic eye diseases, including micro-invasive glaucoma surgery (MIGS) devices (iStent family, iAccess), sustained-release intracameral pharmaceutical implants (iDose TR), bio-activated corneal cross-linking therapies (Epioxa, Photrexa, KXL System with riboflavin formulations), and bio-erodible sustained-release drug delivery platforms for retinal diseases. The company sells these products to ophthalmologists, hospitals, and ambulatory surgical centers globally.

Product overview

Glaukos is an ophthalmic medical technology and pharmaceutical company offering a unified portfolio of novel therapies for glaucoma, corneal disorders, and retinal diseases. The product portfolio is organized around five proprietary technology platforms: (1) iStent Micro-Surgical Device Platform (iStent, iStent inject W, iStent infinite, iAccess), (2) iDose Sustained-Release Pharmaceutical Platform (iDose TR, iDose TREX), (3) iLution Transdermal Platform (GLK-301, GLK-302, GLK-311, GLK-321), (4) iLink Bio-Activated Platform (Epioxa, Photrexa, KXL System), and (5) Retina XR Bio-Erodible Platform. The flagship products include iDose TR (travoprost intracameral implant) for glaucoma, iStent inject W family for MIGS procedures, Epioxa (FDA-approved epithelium-on cross-linking) for keratoconus, and the KXL System with riboflavin formulations for corneal cross-linking. The company also develops sustained-release drug delivery platforms for retinal diseases including AMD and DME.

Differentiator

Problem solved

Functional benefit

Brands

• iDose: Long-duration intracameral implant for IOP reduction in glaucoma patients
• iStent
• KXL System
• iLink
• Epioxa
• Mitosol

Products and services

• iDose TR (travoprost intracameral implant) 75 mcg First-of-its-kind, long-duration, anchored intracameral procedural pharmaceutical therapy for reduction of intraocular pressure in patients with open-angle glaucoma or ocular hypertension. Delivers continuous prostaglandin analog therapy directly into the anterior chamber.
• iStent inject W with Infinite Injector Technology Gold standard micro-invasive glaucoma surgery (MIGS) device with next-generation injector system and precision-engineered stent design featuring wide flange at base. Indicated for use with cataract surgery in adult patients with mild to moderate primary open-angle glaucoma.
• iStent inject W Trabecular micro-bypass device indicated for use in conjunction with cataract surgery for reduction of intraocular pressure in adult patients with mild to moderate primary open-angle glaucoma. Creates two patent bypass pathways through the trabecular meshwork.
• iStent infinite First micro-invasive standalone implantable device for reduction of intraocular pressure in adult patients with primary open-angle glaucoma in whom previous medical and surgical treatment has failed. Features 3 anatomically designed stents preloaded into an elegant injector system.
• iAccess Precision Blade 30-gauge precision blade designed to open trabecular meshwork over an area greater than 90 degrees to directly access Schlemm's canal. Features titanium nitride-coated blade creating approximately 220-micrometer-diameter incisions with built-in safety backstop.
• Mitosol (mitomycin for solution) 0.2 mg/vial FDA-approved antimetabolite indicated as adjunct to ab-externo glaucoma surgery. The only FDA-approved ophthalmic Mitomycin C formulation with closed-system preparation and disposal meeting USP<800> standards.
• Epioxa (riboflavin 5'-phosphate ophthalmic solution) FDA-approved first and only incision-free, epithelium-on corneal cross-linking therapy for treatment of keratoconus. Consists of EPIOXA HD (0.239%) and EPIOXA (0.177%) used with O2n System and Boost Goggles.
• KXL System CE-marked system for performing corneal cross-linking and Lasik Xtra procedures. Features up to 45 mW/cm2 power output, wireless remote control, large touchscreen, and multiple preset treatment protocols.
• Riboflavin Formulations (VibeX Xtra, VibeX Rapid, ParaCel, MedioCROSS) Family of CE-marked riboflavin formulations for various cross-linking protocols including epithelium-off, trans-epithelial, and intra-stromal applications. Include VibeX Xtra for Lasik Xtra, VibeX Rapid for accelerated cross-linking, and ParaCel for epithelium-on procedures.

Quantifiable outcome

• Q1 2026 revenue of $150.6 million, up 41% year-over-year
• +5 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Six partnerships are on record, tiered core, strategic and minor.

• Orsini HealthcarecoreChannel Partner/ Reseller/ Distributor · 23 March 2026Orsini serves as the single-source specialty pharmacy partner for Glaukos' FDA-approved Epioxa therapy for keratoconus. The partnership builds on over five years of collaboration to serve keratoconus patients, providing distribution, patient support, and reimbursement assistance services.
• Prevent BlindnessstrategicGTM or Marketing Partner · 19 March 2026Prevent Blindness declared March 23-29, 2026 as first-ever Keratoconus Week, supported by Glaukos. The partnership aims to raise awareness about keratoconus and provide educational resources to patients and healthcare providers.
• J.P. Morgan Healthcare ConferenceminorGTM or Marketing Partner · 11 November 2025Glaukos presented at the UBS Global Healthcare Conference 2025, participating in investor and analyst meetings to discuss company strategy, products, and pipeline.
• Celanese CorporationcoreTechnology or Integration · 1 February 2024Partnership to launch iDose TR travoprost intracameral implant using Celanese's VitalDose drug-delivery platform for glaucoma treatment. This technology integration enables the sustained-release formulation of travoprost.
• iVeena Delivery SystemsminorStrategic or Co-development PartneriVeena Delivery Systems licensing agreement with Glaukos Corporation for drug delivery technology. The partnership was credited for prior milestones including financing rounds and regulatory submissions.
• Glaukos Charitable Foundation PartnersminorOthersPartnership with over 158 humanitarian organizations including ORBIS, SEE International, Lions Club International, LDS Charities, Americares, and others. Donated over 9,000 IOP-lowering products/stents to underserved glaucoma patients in 62 countries.

Scale indicators17 records

Recent moves3 records

Direct peers

• Ocular Therapeutix: Develops sustained-release ocular drug delivery platforms (e.g., DEXTENZA) targeting the same ophthalmic-surgeon channel as Glaukos's iDose TR, with strong overlap in intracameral and punctal drug-delivery technology.
• Alcon: Largest dedicated ophthalmic company globally, with MIGS-adjacent surgical devices, cataract/IOL bundles, and an emerging pharma franchise overlapping with Glaukos's glaucoma and corneal health lines. Directly competes for surgeon mindshare and MIGS procedure volume.
• Bausch + Lomb: Spun-off from Bausch Health, Bausch + Lomb competes head-to-head across ophthalmic pharmaceuticals (e.g., Vyzulta), surgical devices, and MIGS categories, and is the closest diversified competitor to Glaukos's combined device + specialty pharma model.
• Sight Sciences: Pure-play MIGS competitor with the OMNI Surgical System for canal-based glaucoma surgery, directly overlapping with Glaukos's iStent family for the same interventional glaucoma call point.
• Santen Pharmaceutical: Japan-headquartered global ophthalmic specialty pharmaceutical company with leading glaucoma and corneal franchises (e.g., Tapros, Diquas) and a direct sales channel that overlaps with Glaukos's international, including Japan, presence.

Emerging players

• Novaliq: Focuses on novel ocular surface and dry-eye pharmaceuticals (e.g., NOV03, CyclASol) with overlap on Glaukos's iLution platform candidates (GLK-301 dry eye, GLK-302 presbyopia), competing for the same ocular-surface prescriber.
• Nicox Ophthalmics: European-listed ophthalmic specialty pharma focused on glaucoma (NCX-470) and ocular surface diseases, comparable in scale and stage to Glaukos's corneal health and iDose follow-on programs.
• Apellis Pharmaceuticals: Markets Syfovre/Empaveli with growing ophthalmic retina presence (geographic atrophy), adjacent to Glaukos's Retina XR sustained-release platform targeting AMD/DME; competes for retina specialists and physician relationships.

Others

• iVeena Delivery Systems: Drug-delivery technology licensor and stated Glaukos partner for ocular drug-delivery formulations; comparable as an enabling technology platform in the ocular drug-delivery space that Glaukos commercializes against.

Broad incumbents

• AbbVie (Allergan): Owns the Durysta bimatoprost intracameral implant — Glaukos's most direct intracameral competitor — and a broad ophthalmic pharma portfolio (Lumigan, Alphagan, etc.) via legacy Allergan Aesthetics, plus a much larger capital base.

Market position

Strengths5 records

Weaknesses5 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/557279
• Xx.com/glaukoscorp
• Facebookfacebook.com/GlaukosCorp

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries3 records

Funding overview

Funding rounds7 records

Investors9 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Glaukos