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Glaukos reports $2.7 million quarterly loss

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Glaukos posted a net loss of $2.7 million, or $0.08 per diluted share, in the first quarter of 2018 compared with a net income of $0.9 million, or $0.02 per diluted share, in 2017’s first quarter.

Net sales grew 12% from $35.9 million in 2017’s first quarter to $40.1 million in the current year, according to a press release.

Operating expenses increased from $30.4 million to $38.1 million, a 25% jump. This was attributed to domestic sales growth, marketing and administrative expenses, expansion of global direct sales infrastructure, and higher spending for research and trials.

The company had cash and cash equivalents of nearly $15.6 million as of March 31.