Glaukos Corporation (GKOS) Stock Analysis & Winston Score

Glaukos Corporation makes tiny medical devices used to treat eye diseases, mainly glaucoma and corneal disorders. Its best-known products are micro-stents — devices smaller than a grain of rice — that doctors implant in the eye to reduce pressure and prevent vision loss. The company sells primarily to ophthalmologists and eye surgeons in hospitals and outpatient surgical centers. Glaukos earns revenue by selling its devices directly to hospitals and surgical facilities, with a growing portion coming from its iDose TR product, a sustained-release drug implant for glaucoma. The company operates mainly in the United States but has an expanding international presence across Europe and other markets. Its moat comes from patented micro-invasive technology and strong surgeon training programs that create switching costs. The key growth driver is adoption of iDose TR, which represents a shift toward drug-device combination products, though the company currently runs at an operating loss, meaning it must grow revenue significantly to reach profitability.