Slide 1: Glaukos Corporation Third Quarter 2025 in Review
Exhibit 99.2 OCTOBER 29, 2025 GLAUKOS CORPORATION (NYSE: GKOS) THIRD QUARTER 2025 IN REVIEW Important Information This document is intended to be read by investors in advance of regularly scheduled quarterly conference calls and was designed to provide a review of Glaukos Corporation’s recent financ
Slide 2: Third Quarter 2025 Financial Results Summary
OCTOBER 29, 2025 THIRD QUARTER 2025 FINANCIAL RESULTS SUMMARY Ophthalmic pharmaceutical and medical technology company Business focused on developing and commercializing novel, dropless platform Description therapies designed to disrupt the conventional standard of care and improve outcomes for pati
Slide 3: Revenue Performance & Commercial Overview
OCTOBER 29, 2025 Revenue Performance & Commercial Overview Global Consolidated Revenue Performance Glaukos reported record third quarter net revenues of $133.5 million that were up 38% on a reported basis, or 37% on a constant currency basis, versus 3Q 2024. Our third quarter record results reflect
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Slide 5: U.S. Glaucoma and International Glaucoma
OCTOBER 29, 2025 U.S. Glaucoma Our record third quarter U.S. Glaucoma net revenues were approximately $80.8 million, representing year-over-year growth of 57% versus 3Q 2024 driven by growing contributions from iDose TR, which generated sales of approximately $40 million in the third quarter. During
Slide 6: Additional Commercial Updates & Commentary
OCTOBER 29, 2025 Additional Commercial Updates & Commentary We have had several additional positive commercial updates worth highlighting here: ✓ Advanced commercial launch activities in the U.S. for iDose TR o Growing number of trained surgeons and accounts o Expanding utilization of the installed
Slide 7: CMS's Proposed Rules for Calendar Year 2026
OCTOBER 29, 2025 ✓ CMS’s Proposed Rules for Calendar Year 2026 o Hospital Outpatient Prospective Payment System (OPPS) and Ambulatory Surgical Center (ASC) Facility Fee Schedules: Proposed to maintain the 2025 APC assignments and modestly increase facility fee rates associated with our procedures ac
Slide 8: 2025 Revenue Guidance Raised to Reflect Strong Momentum
OCTOBER 29, 2025 2025 Revenue Guidance Raised to Reflect Strong Momentum Glaukos now expects full-year 2025 global consolidated net sales of $490 - $495 million, up from its previous guidance of $480 - $486 million. This guidance attempts to take into consideration: ● Potential growing contributions
Slide 9: Research & Development / Pipeline Overview
OCTOBER 29, 2025 Research & Development / Pipeline Overview Pipeline Summary Our five key dropless technology therapy platforms designed to disrupt traditional treatment paradigms and generate cascades of future innovation are as follows: ● iStent® micro-scale surgical devices ● iDose® sustained-rel
Slide 10: Key R&D and Pipeline Updates
OCTOBER 29, 2025 Key R&D and Pipeline Updates We are continuing to prudently invest in and advance our fulsome pipeline of core novel platforms, supported by more than $800 million investment into our R&D programs since 2018 alone. Recent updates in our pipeline include: ✓ Announced FDA approval for
Slide 11: Product / Pipeline Chart
OCTOBER 29, 2025 Product / Pipeline Chart 10
Slide 12: Other Financial Performance Overview
OCTOBER 29, 2025 Other Financial Performance Overview As a reminder, we discuss our financial performance on a non-GAAP basis and summarize our GAAP performance. We encourage investors to review our GAAP to non-GAAP reconciliation which can be found in our earnings press release, the Additional Info
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Slide 14: Other Important Updates
OCTOBER 29, 2025 Other Important Updates Ø During the third quarter, we celebrated the groundbreaking of our new state-of-the-art research, development, and manufacturing facility in Huntsville, Alabama. We are proud to expand our U.S. footprint with the development of this new state-of-the-art faci
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Slide 16: Additional Information
OCTOBER 29, 2025 Additional Information
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Slide 18: Forward-Looking Statements
OCTOBER 29, 2025 Forward-Looking Statements This communication contains “forward-looking statements” within the meaning of federal securities laws. All statements other than statements of historical facts included in this presentation that address activities, events or developments that we expect, b
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Slide 20: Statement Regarding Use of Non-GAAP Financial Measures
OCTOBER 29, 2025 Statement Regarding Use of Non-GAAP Financial Measures To supplement the consolidated financial results prepared in accordance with Generally Accepted Accounting Principles ("GAAP"), the Company uses certain non-GAAP historical financial measures. Management makes adjustments to the
Slide 21: GAAP Income Statement
OCTOBER 29, 2025 GAAP Income Statement GLAUKOS CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) (in thousands, except per share amounts) Three Months Ended Nine Months Ended September 30, September 30, 2025 2024 2025 2024 Net sales $133,537 $ 96,670 $364,321 $ 277,982 Cost of
Slide 22: GAAP Balance Sheet
OCTOBER 29, 2025 GAAP Balance Sheet GLAUKOS CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except par values) September 30, December 31, 2025 2024 (unaudited) Assets Current assets: Cash and cash equivalents $ 98,246 $ 169,626 Short-term investments 175,466 149,289 Accounts receiva
Slide 23: Primary GAAP to Non-GAAP Reconciliations
OCTOBER 29, 2025 Primary GAAP to Non-GAAP Reconciliations GLAUKOS CORPORATION GAAP to Non-GAAP Reconciliations (in thousands, except per share amounts and percentage data) (unaudited) Q3 2025 Q3 2024 GAAP Adjustments Non-GAAP GAAP Adjustments Non-GAAP Cost of sales $ 28,831 $ (7,310)(a)(b)(c) $ 21,5
Slide 24: Primary GAAP to Non-GAAP Reconciliations
OCTOBER 29, 2025 Primary GAAP to Non-GAAP Reconciliations GLAUKOS CORPORATION GAAP to Non-GAAP Reconciliations (in thousands, except per share amounts and percentage data) (unaudited) Year-to-Date Q3 2025 Year-to-Date Q3 2024 GAAP Adjustments Non-GAAP GAAP Adjustments Non-GAAP Cost of sales $ 80,043
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Slide 26: Additional GAAP to Non-GAAP Reconciliations
OCTOBER 29, 2025 Additional GAAP to Non-GAAP Reconciliations Reported Sales vs. Prior Periods (in thousands) Year-over-Year Percent Change Quarter-over-Quarter Percent Change 3Q 2025 3Q 2024 2Q 2025 Reported Operations (1) Currency (2) Reported Operations (1) Currency (2) International Glaucoma $ 29