What drove GKOS's earnings surprise in 2024?

Glaukos Corporation (GKOS) experienced an earnings surprise in 2024, with a reported EPS of -$0.94 for the fourth quarter (Q4) of the year, according to the latest available data. **Revenue Growth and Product Demand** were the primary drivers behind this surprise: |code|Ticker|Name|Date|Estimate EPS YoY|Estimate Revenue YoY|market_code| |---|---|---|---|---|---|---| |GKOS|GKOS.N|Glaukos|20240331|0|17.542823390431188|169| |GKOS|GKOS.N|Glaukos|20240630|10.526315789473676|19.379532634971795|169| |GKOS|GKOS.N|Glaukos|20240930|12.727272727272737|21.58139534883721|169| |GKOS|GKOS.N|Glaukos|20241231|29.090909090909093|28.300927690939126|169| 1. **Strong Revenue Growth**: Glaukos reported record-breaking third-quarter consolidated net sales of $96.7 million, marking a 24% increase year-over-year. This growth was fueled by robust demand for their flagship products, particularly the iStent family and the recently launched iDose TR. The company's full-year 2024 net sales guidance was raised to $377 million to $379 million, reflecting confidence in continued revenue growth. 2. **Product-Specific Success**: The success of Glaukos' flagship product, iStent, and the recent launch of iDose TR have been key factors in their revenue surge. The iStent family of products saw significant volume increases, with iStent infinite showing particular growth. Additionally, the launch of iDose TR in the second quarter of 2024 has already begun to enhance revenue growth. 3. **International Expansion**: Glaukos' international glaucoma and corneal health products continue to experience high demand, with notable growth in key markets such as France, Japan, the United Kingdom, and Australia. Despite some negative impact from foreign exchange rates, the company has managed to capitalize on these international opportunities. In summary, Glaukos' earnings surprise in 2024 can be attributed to strong revenue growth, driven by the success of their flagship products and expanding international presence.