Slide 1: May 2025 Investor Presentation
May 2025 Investor Presentation
Slide 2: Disclaimer
Disclaimer All statements other than statements of historical facts included in this presentation that address activities, events or developments that we expect, believe or anticipate will or may occur in the future are forward-looking statements. These statements are based on management’s current e
Slide 3: We'll Go First
WE’LL GO FIRST Innovation is at the core of everything we do. At Glaukos, we push the limits of science and technology to solve unmet needs in chronic eye diseases for the benefit of patients worldwide. CORE GROWTH STRATEGY Leading-edge Innovation Pursuing big ideas that address clinical needs of la
Slide 4: Industry-Leading Innovation
© 2025 Glaukos Corporation 4 INDUSTRY-LEADING INNOVATION 700 $ + Million Invested in R&D since 2018 14Disclosed pipeline programs in 2025 vs. 4 in 2015 iStent Micro-Scale iDose Sustained-Release iLin k Bio-Activat e d iLution Eyelid Delivery Retina XR Bio-Erodible IVT Ocular Hypertension and Open-An
Slide 5: 2025-26 Key Commercial Catalysts
Keratoconus iLinko2n with EpioxaTM Interventional Glaucoma iDose® TR iStent infinite® © 2025 Glaukos Corporation 5 2025-26 KEY COMMERCIAL CATALYSTS Focused on establishing robust growth engines centered on proven, foundational therapies that improve the standard of care iLinko2n with Epioxa is not a
Slide 6: Disrupting the Status Quo
DISRUPTING THE STATUS QUO 1 Nordstrom BL, Friedman DS, Mozaffari E, Quigley H, Walker AM. Persistence and adherence with topical glaucoma therapy. Am J Ophthalmol. 2005;140(4): 598-606. © 2025 Glaukos Corporation 6 Interventional Glaucoma (IG) is designed to radically improve the legacy treatment pa
Slide 7: IG: Led by iDose TR, Ground-Breaking Innovation
© 2025 Glaukos Corporation 7 IG: LED BY iDOSE TR, GROUND-BREAKING INNOVATION Insertion System Precision-engineered to facilitate straightforward implantation Unique Drug Formulation 75 mcg of a novel, proprietary, preservative-free travoprost formulation; ~25,000x more concentrated than leading PGA
Slide 8: IG: A New Paradigm
© 2025 Glaukos Corporation 8 OCULAR HYPERTENSION MILD OAG MODERATE OAG ADVANCED OAG REFRACTORY OAG SLT FILTRATION SURGERY DRUG DELIVERY MIBS MIGS OR Topical meds used as a supplemental, bridge therapy as needed IG: A NEW PARADIGM The workhorse; foundational therapy in algorithms across the disease s
Slide 9: Driving IG Forward
© 2025 Glaukos Corporation 9 DRIVING IG FORWARD Major progress achieved in 2024 and key objectives for 2025 designed to increase IG awareness and adoption 2024 2025 Methodical launch; continually expanded trained surgeon pool Permanent J-Code established Cat III CPT codes established; advanced MAC c
Slide 10: IG & The Forever Patient
© 2025 Glaukos Corporation 10 IG & THE FOREVER PATIENT The average OHT/glaucoma patient lives with the disease for 20+ years Optimizing referral network and practice administration for cataract and refractive care COMPREHENSIVE OPHTHALMOLOGY PRACTICE: CONVENTIONAL MODEL Glaucoma care predominantly s
Slide 11: Strong IG Clinical Data
© 2025 Glaukos Corporation 11 STRONG IG CLINICAL DATA iDose TR: Phase 3 data confirms long duration 81% of iDose TR subjects in the Phase 3 trials were completely free of IOP-lowering topical medications at 12 months AT 12 MONTHS AT 36 MONTHS PH 32,3 93% PH 2B 1 92% % OF iDOSE TR SUBJECTS WELL-CONTR
Slide 12: Strong IG Safety Data
iDose TR: Phase 3 & Phase 2b safety data © 2025 Glaukos Corporation 12 STRONG IG SAFETY DATA In controlled studies, the most common ocular adverse reactions in 2% to 6% of patients were increases in intraocular pressure, iritis, dry eye, and visual field defects1 1 iDose TR prescribing information;
Slide 13: Power of Combined Therapy
© 2025 Glaukos Corporation 13 POWER OF COMBINED THERAPY Expect surgeons to ultimately combine IG therapies to better control IOP and slow disease progression 1 Med 48% 2 Meds 28% ≥3 Meds 24% Combining multiple topical meds is widely used to manage IOP by increasing outflow and/or reducing fluid prod
Slide 14: Estimating the Domestic IG Opportunity
Are non-compliant and/or intolerant with topical meds Have dry eye and/or other underlying co-morbidities Have physical limitations that impede their ability to use topical meds Want to reduce their drug burden and/or have experienced decreased quality-of life related to topical med use Are post-SLT
Slide 15: IG Product Roadmap
© 2025 Glaukos Corporation 15 IG PRODUCT ROADMAP Glaukos is uniquely positioned to lead development of the IG opportunity PRODUCT PATIENT STATUS iStent / iStent inject / iStent inject W Mild-to-Moderate Glaucoma with Cataract FDA Approved (2012, 2018, 2020) iStent infinite Glaucoma (failed on prior
Slide 16: IG: A Vision for the Next Years
© 2025 Glaukos Corporation 16 IG: A VISION FOR THE NEXT 10 YEARS Multiple growth drivers can combine to create potential for a substantial and sustained increase in IG adoption over the decade Majority of ophthalmic surgeons choose to adopt the IG algorithm, with the potential for iDose therapies to
Slide 17: Rare Disease: Advances in Corneal Health
© 2025 Glaukos Corporation 17 RARE DISEASE: ADVANCES IN CORNEAL HEALTH • A type of corneal ectasia characterized by corneal thinning and steepening; often marked by frequent eye rubbing • Most cases present between puberty and age 40 • Patients may require multiple corneal transplants over their lif
Slide 18: Epioxa (Epi-on) Next-Gen Therapy Moves Forward
© 2025 Glaukos Corporation 18 EPIOXA (Epi-on) NEXT-GEN THERAPY MOVES FORWARD Both Phase 3 trials met primary efficacy outcome and demonstrated favorable tolerability and safety NDA submission in December 2024; PDUFA date set for October 20, 2025 Oxygen-enriched epithelium-on corneal cross-linking de
Slide 19: What If? Customized, Spherical Therapy
© 2025 Glaukos Corporation 19 WHAT IF? CUSTOMIZED, SPHERICAL THERAPY Third-generation iLink therapy represents a potentially significant advancement in keratoconus care Advancing Phase 2 clinical program THIRD-GENERATION iLINK THERAPY DESIGNED TO: • Use biomechanical modeling to deliver customized,
Slide 20: iLink / KC Product Roadmap
© 2025 Glaukos Corporation 20 iLINK / KC PRODUCT ROADMAP Robust pipeline is designed to expand and enhance patient care options with leading-edge innovations PRODUCT PATIENT STATUS Photrexa (Epi-off) Keratoconus FDA Approved (2016) Epioxa (Epi-on) Keratoconus NDA filed PDUFA date: 10/20/25 iLink 3rd
Slide 21: iLution Demodex Blepharitis Program
• Affects an estimated 25 million1 people in the US • Is caused by infestation of demodex mites, a common ectoparasite found on human skin • Is characterized by eyelid inflammation and irritation resulting in eyelid redness, discomfort and debris © 2025 Glaukos Corporation 21 iLUTION DEMODEX BLEPHAR
Slide 22: Retina XR Platform Update
RETINA XR PLATFORM UPDATE © 2025 Glaukos Corporation 22 1 Market Scope; 2 Long-term Experience With Intravitreal Anti-VDGF Treatment in Patients with AMD: Analysis of IRIS Registry Database (presented at 39th Annual Meeting of the American Society of Retina Specialists by Theodore Leng, MD); 3 Plann
Slide 23: Building the Business in Stages
BUILDING THE BUSINESS IN STAGES Continually advancing our most promising opportunities to create a cascade of new products across a variety of disease categories over the next decade BUILDING THE iStent & Other Surgical iDose iLink iLution Retina BUSINESS IN STAGES © 2025 Glaukos Corporation 23 *Com
Slide 24: Product Patient Status
PRODUCT PATIENT STATUS iStent / iStent inject / iStent inject W Mild-to-Moderate Glaucoma with Cataract FDA Approved (2012, 2018, 2020) iStent infinite Glaucoma (failed on prior therapy) FDA Cleared (2022) iStent infinite Glaucoma (label expansion) Active PMA Study PRESERFLO MicroShunt Advanced-Refr
Slide 25: Key 2025 Pipeline Milestones
KEY 2025 PIPELINE MILESTONES © 2025 Glaukos Corporation 25 PROGRAM PATIENT INTENDED CLINICAL BENEFIT 2025 MILESTONE TARGET GLAUCOMA iStent infinite Mild-to-Moderate Glaucoma MIGS therapy Advance enrollment in PMA pivotal trial Advanced-Refractory Glaucoma MIGS therapy EU regulatory approval PRESERFL
Slide 26: Building the Business in Key Stages Highlights
56% 27% 17% BUILDING THE BUSINESS IN KEY STAGES HIGHLIGHTS © 2025 Glaukos Corporation 26 Solid financial and operational footing to support future pipeline delivery and growth plans NET SALES1 (in millions) 2022 2023 $315 $283 20%+ 10-year CAGR $383 2024 GLOBAL INFRASTRUCTURE 17Countries with direct
Slide 27: We'll Go First
WE’LL GO FIRST Innovation is at the core of everything we do. At Glaukos, we push the limits of science and technology to solve unmet needs in chronic eye diseases. © 2025 Glaukos Corporation 27
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© 2025 Glaukos Corporation 28
Slide 29: Appendix: GAAP to Non-GAAP Reconciliation 1Q 2025
Appendix © 2025 Glaukos Corporation 29 1Q 2025 GAAP Amort. of Dev 1Q 2025 Non-GAAP Gross Margin Tech Intangibles Gross Margin Net Sales $ 106,664 $ 106,664 COGS $ 24,316 $ (5,523) $ 18,793 Gross Profit $ 82,348 $ 5,523 $ 87,871 Gross Margin 77% 82% GAAP to Non-GAAP Reconciliation - 1Q 2025 (in thous