Glaukos (GKOS) 10-K 15 Mar 16 2015 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Mar. 07, 2016	Jun. 30, 2015
Document and Entity Information
Entity Registrant Name	GLAUKOS Corp
Entity Central Index Key	1,192,448
Document Type	10-K
Document Period End Date	Dec. 31, 2015
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		32,340,033
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY
Entity Public Float			$ 523.2

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 21,572	$ 2,304
Short-term investments	69,552	0
Accounts receivable, net	7,549	5,398
Inventory	4,097	2,258
Prepaid expenses and other current assets	1,290	534
Restricted cash	80	60
Total current assets	104,140	10,554
Property and equipment, net	2,154	1,950
Intangible asset, net	10,218	13,475
Deposits and other assets	149	42
Total assets	116,661	26,021
Current liabilities:
Accounts payable	3,626	3,298
Accrued liabilities	7,793	6,462
Line of credit		1,850
Long-term debt, current portion	8,931	8,532
Deferred rent	12	45
Total current liabilities	20,362	20,187
Long-term debt, less current portion	765	8,968
Stock warrant liability	105	379
Other liabilities	238	12
Total liabilities	$ 21,470	29,546
Convertible preferred stock (see Note 8)		$ 157,379
Stockholders' equity (deficit):
Preferred stock, $0.001 par value; 5,000 shares and no shares authorized at December 31, 2015 and 2014; no shares issued and outstanding at December 31, 2015 and 2014
Common stock, $0.001 par value; 150,000 shares and 77,000 authorized at December 31, 2015 and 2014, respectively; 32,209 and 2,470 shares issued and 32,181 and 2,442 shares outstanding at December 31, 2015 and 2014, respectively	$ 32	$ 6
Additional paid-in capital	291,853	8,155
Accumulated other comprehensive income	51	44
Accumulated deficit	(196,613)	(159,372)
Total stockholders' (deficit) equity before treasury stock	95,323	(151,167)
Less treasury stock (28 shares as of December 31, 2015 and 2014)	(132)	(132)
Total stockholders' equity (deficit)	95,191	(151,299)
Noncontrolling interest		(9,605)
Total equity (deficit)	95,191	(160,904)
Total liabilities, convertible preferred stock and equity (deficit)	$ 116,661	$ 26,021

CONSOLIDATED BALANCE SHEETS (PA

CONSOLIDATED BALANCE SHEETS (PARENTHETICAL) - $ / shares shares in Thousands	Dec. 31, 2015	Dec. 31, 2014
CONSOLIDATED BALANCE SHEETS
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	5,000	0
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	150,000	77,000
Common stock, shares issued	32,209	2,470
Common stock, shares outstanding	32,181	2,442
Treasury stock, shares	28	28

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
CONSOLIDATED STATEMENTS OF OPERATIONS
Net sales	$ 71,700	$ 45,587	$ 20,946
Cost of sales	12,988	11,418	2,535
Gross profit	58,712	34,169	18,411
Operating expenses:
Selling, general and administrative	43,961	28,135	17,098
Research and development	25,047	19,205	15,511
Total operating expenses	69,008	47,340	32,609
Loss from operations	(10,296)	(13,171)	(14,198)
Other income (expense), net
Interest income	82	3	13
Loss on deconsolidation of DOSE	(25,685)
Loss on extinguishment of debt	(195)
Interest and other expense, net	(1,062)	(876)	(307)
Change in fair value of stock warrants	(1,132)	5	271
Total other income (expense), net	(27,992)	(868)	(23)
Loss before taxes	(38,288)	(14,039)	(14,221)
Provision for income taxes	33	18	6
Net loss	(38,321)	(14,057)	(14,227)
Net loss attributable to noncontrolling interest	(1,080)	(1,931)	(1,588)
Net loss attributable to Glaukos Corporation	$ (37,241)	$ (12,126)	$ (12,639)
Net loss per share, basic and diluted, attributable to Glaukos Corporation stockholders	$ (2.13)	$ (5.29)	$ (6.21)
Weighted-average shares used to compute basic and diluted net loss per share attributable to Glaukos Corporation stockholders	17,474	2,294	2,036

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
Net loss	$ (38,321)	$ (14,057)	$ (14,227)
Other comprehensive income:
Foreign currency translation adjustments	155	42	2
Unrealized loss on short-term investments, net of tax	(148)
Other comprehensive income	7	42	2
Total comprehensive loss	(38,314)	(14,015)	(14,225)
Comprehensive loss attributable to noncontrolling interest	(1,080)	(1,931)	(1,588)
Comprehensive loss attributable to Glaukos Corporation	$ (37,234)	$ (12,084)	$ (12,637)

CONSOLIDATED STATEMENTS OF CONV

CONSOLIDATED STATEMENTS OF CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS' DEFICIT - USD ($) $ in Thousands	Common Stock	Additional Paid-in-Capital	Accumulated Other Comprehensive Income	Accumulated Deficit	Treasury Stock	Noncontrolling Interest	Total
Balance at Dec. 31, 2012	$ 5	$ 4,555		$ (134,607)		$ (6,157)	$ (136,204)
Balance (in shares) at Dec. 31, 2012	2,004,000
Stockholders' Deficit
Common stock issued under stock plans		172				1	173
Common stock issued under stock plans (in shares)	118,000
Share-based compensation		1,346					1,346
Other comprehensive income			$ 2				2
Net loss				(12,639)		(1,588)	(14,227)
Purchase of treasury stock					$ (132)		$ (132)
Purchase of treasury stock (in shares)					(28,000)		(28,000)
Balance at Dec. 31, 2013	$ 5	6,073	2	(147,246)	$ (132)	(7,744)	$ (149,042)
Balance (in shares) at Dec. 31, 2013	2,122,000				(28,000)
Stockholders' Deficit
Common stock issued under stock plans	$ 1	552				70	623
Common stock issued under stock plans (in shares)	348,000
Share-based compensation		1,530					1,530
Other comprehensive income			42				42
Net loss				(12,126)		(1,931)	(14,057)
Balance at Dec. 31, 2014	$ 6	8,155	44	(159,372)	$ (132)	(9,605)	$ (160,904)
Balance (in shares) at Dec. 31, 2014	2,470,000				(28,000)		2,442,000
Stockholders' Deficit
Conversion of preferred stock into common stock	$ 17	159,060					$ 159,077
Stock Issued During Period, Shares, Conversion of Convertible Securities	21,736,000						21,736,367
Issuance of common stock in initial public offering	$ 7	113,582					$ 113,589
Issuance of common stock in initial public offering (in shares)	6,900,000
Common stock issued under stock plans	$ 2	2,979					2,981
Common stock issued under stock plans (in shares)	1,097,000
Exercise of common stock warrant		188					188
Exercise of common stock warrant (in shares)	6,000
Share-based compensation		7,889					7,889
Other comprehensive income			7				7
Net loss				(37,241)		(1,080)	(38,321)
Deconsolidation of DOSE						$ 10,685	10,685
Balance at Dec. 31, 2015	$ 32	$ 291,853	$ 51	$ (196,613)	$ (132)		$ 95,191
Balance (in shares) at Dec. 31, 2015	32,209,000				(28,000)		32,181,000

CONSOLIDATED STATEMENTS OF CON7

CONSOLIDATED STATEMENTS OF CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS' DEFICIT - TEMPORARY EQUITY - USD ($) shares in Thousands, $ in Thousands	Convertible Preferred StockSeries C convertible preferred stock	Convertible Preferred StockSeries D convertible preferred stock	Convertible Preferred StockSeries F convertible preferred stock	Convertible Preferred Stock	Series C convertible preferred stock	Series D convertible preferred stock	Series F convertible preferred stock	Total
Balance at Dec. 31, 2012				$ 126,210
Balance (in shares) at Dec. 31, 2012				18,118
Convertible Preferred Stock
Issuance of convertible preferred stock			$ 19,227
Issuance of convertible preferred stock (in shares)			2,173
Conversion of convertible notes payable and accrued interest into Series F convertible preferred stock at $8.85 per share			$ 10,773
Conversion of convertible notes payable and accrued interest into Series F convertible preferred stock at $8.85 per share (in shares)			1,217
Balance at Dec. 31, 2013				$ 156,210
Balance (in shares) at Dec. 31, 2013				21,508
Convertible Preferred Stock
Issuance of convertible preferred stock in connection with exercises of preferred stock warrants	$ 836	$ 333
Issuance of convertible preferred stock in connection with exercises of preferred stock warrants (in shares)	105	29
Balance at Dec. 31, 2014				$ 157,379	$ 40,836	$ 41,496	$ 30,000	$ 157,379
Balance (in shares) at Dec. 31, 2014				21,642	5,819	5,410	3,390

CONSOLIDATED STATEMENTS OF CON8

CONSOLIDATED STATEMENTS OF CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS' DEFICIT - TEMPORARY EQUITY (PARENTHETICAL) - $ / shares	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Jan. 31, 2013
Series C convertible preferred stock
Convertible Preferred Stock
Share price (in dollars per share)		$ 8
Series D convertible preferred stock
Convertible Preferred Stock
Share price (in dollars per share)	$ 18	$ 11.38
Series F convertible preferred stock
Convertible Preferred Stock
Share price (in dollars per share)			$ 8.85	$ 8.85

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Operating Activities
Net loss	$ (38,321)	$ (14,057)	$ (14,227)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	4,267	4,231	1,157
Stock-based compensation	7,889	1,530	1,346
Loss on deconsolidation of DOSE	25,685
Loss on extinguishment of debt	186
Change in fair value of stock warrant liability	1,132	(5)	(271)
Unrealized losses on intercompany loans	192
Accrued interest expense			44
Amortization of premium on short-term investments	51		106
Amortization of debt discount and deferred financing costs	15
Deferred rent	91	(33)	(20)
Change in operating assets and liabilities:
Accounts receivable, net	(2,163)	(2,514)	(2,340)
Inventory	(1,848)	(413)	(938)
Prepaid expenses and other current assets	(755)	(108)	(164)
Accounts payable and accrued liabilities	1,518	4,226	2,037
Other assets	(127)	36	(35)
Net cash used in operating activities	(2,188)	(7,107)	(13,305)
Investing activities
Purchases of property and equipment	(877)	(868)	(852)
Purchase of iDOSE product line and related assets from DOSE Medical	(15,000)
Purchases of short-term investments	(69,751)		(10,817)
Proceeds from sale and maturities of short-term investments			10,711
Net cash used in investing activities	(85,628)	(868)	(958)
Financing activities
Proceeds from initial public offering, net of issuance costs	113,589
Proceeds from senior secured term and draw-to term loans	6,852
Payments of senior secured term and draw-to term loans	(7,000)
Proceeds from revolving line of credit	1,750	2,850
Payments of revolving line of credit	(3,600)	(1,000)
Payments of subordinated notes	(7,804)
Proceeds from exercise of stock options	1,734	775	162
Proceeds from issuance of Series F Preferred stock			19,227
Share purchases under Employee Stock Purchase Plan	1,161
Proceeds from exercise of stock warrants	428	875
Payments to acquire treasury stock			(132)
Net cash provided by financing activities	107,110	3,500	19,257
Effect of exchange rate changes on cash and cash equivalents	(26)	51	2
Net increase (decrease) in cash and cash equivalents	19,268	(4,424)	4,996
Cash and cash equivalents at beginning of period	2,304	6,728	1,732
Cash and cash equivalents at end of period	21,572	2,304	6,728
Supplemental disclosures of cash flow information
Interest paid	834	876	75
Taxes paid	25	12	4
Supplemental schedule of noncash investing and financing activities
Purchase of intangible asset in exchange for issuance of subordinated note			17,500
Purchase of intangible assets in exchange for future payments	243
Conversion of convertible notes and accrued interest into Series F convertible preferred stock			10,773
Conversion of preferred stock into common stock	159,077
Reduction of liability upon vesting of stock options previously exercised for unvested stock	$ 86	$ 80	$ 11

Organization and Basis of Prese

Organization and Basis of Presentation	12 Months Ended
	Dec. 31, 2015
Organization and Basis of Presentation
Organization and Basis of Presentation	1. Organization and basis of presentation Organization and business Glaukos Corporation (Glaukos or the Company), incorporated in Delaware on July 14, 1998, is a developer, manufacturer and marketer of medical devices for the treatment of glaucoma. The accompanying consolidated financial statements include the accounts of Glaukos, its wholly ‑owned subsidiaries Glaukos Australia Pty. Ltd., Glaukos Canada Inc., Glaukos Europe GmbH, Glaukos Japan GK and through June 30, 2015, affiliated entity DOSE Medical Corporation (DOSE) (see Note 12). All significant intercompany balances and transactions among the consolidated entities have been eliminated in consolidation. Liquidity Since inception, the Company has not been profitable and has incurred operating losses in each year, and management expects operating losses and negative cash flows to continue for the foreseeable future. Successfully attaining profitable operations is dependent upon achieving a level of revenues adequate to support the Company’s cost structure. For the year ended December 31, 2015, the Company incurred a net loss of $38.3 million and used $2.2 million of cash in operations. At December 31, 2015, the Company had an accumulated deficit of $196.6 million and does not expect to experience positive cash flows in the near future. The Company has financed operations to date primarily through private placements of equity securities, the issuance of common stock in the initial public offering (IPO) completed in June 2015, debt financings and cash generated by its commercial operations. The Company may never become profitable, and if it does, it may not be able to sustain profitability on a recurring basis. The Company plans to fund its losses and capital funding needs using existing cash and investments, cash from operations and through future debt and equity financings. There can be no assurance that the Company will be able to obtain additional financing on terms acceptable to it, or at all. Any equity financing may result in dilution to existing stockholders and any additional debt financing may include restrictive covenants. As of December 31, 2015, the Company had cash, cash equivalents and short-term investments totaling $91.1 million and net working capital of $83.8 million. Initial public offering On June 30, 2015, the Company completed its IPO, selling 6.9 million newly issued shares of common stock at a price of $18.00 per share. The IPO generated net cash proceeds of approximately $113.6 million, after deducting underwriting discounts and commissions of approximately $8.7 million and other related expenses of approximately $1.9 million. The underwriting discounts and commissions and offering costs were recorded as a reduction to the IPO proceeds included in additional paid ‑in capital. Immediately prior to the closing of the IPO, all unexercised warrants to purchase shares of Series D convertible preferred stock were net exercised at the IPO price per share, and then all outstanding shares of convertible preferred stock automatically converted into approximately 21.7 million shares of common stock. Following the completion of the IPO, there were no shares of preferred stock and no warrants to purchase shares of Series D convertible preferred stock outstanding. An additional 4.5 million shares of common stock were reserved for issuance under the Company’s 2015 Omnibus Incentive Compensation Plan and 450,000 shares of common stock were reserved for the Company’s 2015 Employee Stock Purchase Plan. Acquisition of certain DOSE Medical Corporation assets On June 30, 2015, the Company acquired certain assets from DOSE, including the iDose product line, in exchange for a cash payment of $15.0 million and the elimination of all amounts owed by DOSE to the Company. In addition to an asset purchase, the parties agreed to an amended and restated patent license agreement and an amended and restated transition services agreement that provides for limited support from the Company to DOSE for a period of up to three years (see Note 12). Reverse stock split On June 11, 2015, the Company effected a 1 for 2.5 share reverse stock split of the Company’s common stock and convertible preferred stock. Neither the par value nor the authorized number of shares was adjusted as a result of the reverse stock split. All issued and outstanding common stock, shares of common stock held in treasury, convertible preferred stock, warrants, and per share amounts contained in the accompanying financial statements and notes to the financial statements have been retroactively adjusted to give effect to the reverse stock split for all periods presented.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2015
Summary of Significant Accounting Policies
Summary of Significant Accounting Policies	2. Summary of significant accounting policies Basis of presentation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP). Use of estimates The preparation of the financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts in the financial statements and accompanying notes. Actual results could differ materially from those estimates and assumptions. Management considers many factors in selecting appropriate financial accounting policies and controls and in developing the estimates and assumptions that are used in the preparation of these financial statements. Management must apply significant judgment in this process. In addition, other factors may affect estimates, including expected business and operational changes, sensitivity and volatility associated with the assumptions used in developing estimates, and whether historical trends are expected to be representative of future trends. The estimation process often may yield a range of potentially reasonable estimates of the ultimate future outcomes, and management must select an amount that falls within that range of reasonable estimates. The most significant estimates in the accompanying consolidated financial statements relate to revenue recognition, inventory reserves and stock ‑based compensation expense. Although these estimates are based on the Company’s knowledge of current events and actions it may undertake in the future, this process may result in actual results differing materially from those estimated amounts used in the preparation of the financial statements. Foreign currency translation The accompanying consolidated financial statements are presented in U.S. dollars. The Company considers the local currency to be the functional currency for its international subsidiaries. Accordingly, their assets and liabilities are translated into U.S. dollars using the exchange rate in effect on the balance sheet date. Revenues and expenses are translated at average exchange rates prevailing throughout the periods presented. Currency translation adjustments arising from period to period are charged or credited to accumulated other comprehensive income (loss) in stockholders’ equity (deficit). For the years ended December 31, 2015, 2014 and 2013, the Company reported income from foreign currency translation adjustments of approximately $155,000 , $42,000 and $2,000 , respectively. Realized gains and losses resulting from foreign currency transactions are included in selling, general and administrative expense in the consolidated statements of operations. For the years ended December 31, 2015, 2014 and 2013, the Company reported foreign currency transaction losses of approximately $287,000 , $38,000 and $10,000 , respectively. Cash, cash equivalents and short-term investments The Company invests its excess cash in marketable securities, including money market funds, money market securities, corporate bonds, and corporate commercial paper and U.S. government agency bonds. For financial reporting purposes, liquid investment instruments purchased with an original maturity of three months or less are considered to be cash equivalents. Cash and cash equivalents are recorded at face value or cost, which approximates fair market value. From time to time, the Company maintains cash balances in excess of amounts insured by the Federal Deposit Insurance Commission (FDIC). Investments are stated at fair value as determined by quoted market prices. Investments are considered available ‑for ‑sale and, accordingly, unrealized gains and losses are included in accumulated other comprehensive income within stockholders’ equity (deficit). The Company’s entire investment portfolio, except for restricted cash, is considered to be available for use in current operations and, accordingly, all such investments are stated at fair value using quoted market prices and classified as current assets, although the stated maturity of individual investments may be one year or more beyond the balance sheet date. The Company did not have any trading securities or restricted investments at December 31, 2015, 2014 and 2013. Realized gains and losses and declines in value, if any, judged to be other ‑than ‑temporary on available ‑for ‑sale securities, are reported in interest income or expense, net. When securities are sold, any associated unrealized gain or loss previously reported as a separate component of stockholders’ equity is reclassified out of stockholders’ equity and recorded in the statements of operations in the period sold. Accrued interest and dividends are included in interest income. The Company periodically reviews its available ‑for ‑sale securities for other ‑than ‑temporary declines in fair value below the cost basis, and whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Concentration of credit risk and significant customers Financial instruments, which potentially subject the Company to significant concentration of credit risk, consist primarily of cash, cash equivalents, short-term investments and accounts receivable. The Company maintains deposits in federally insured financial institutions in excess of federally insured limits and management believes that the Company is not exposed to significant credit risk due to the financial position of the depository institutions in which those deposits are held. Additionally, the Company has established guidelines regarding investment instruments and their maturities which are designed to maintain preservation of principal and liquidity. The Company believes that the concentration of credit risk in its accounts receivable is mitigated by its credit evaluation process, relatively short collection terms and the level of credit worthiness of its customers. During 2015, 2014 and 2013, none of the Company’s customers accounted for more than 10% of revenues. Restricted cash The Company has a credit card facility with its primary operating bank which is collateralized by certificates of deposit maintained at the bank. Accounts receivable The Company sells its products directly to hospitals, surgery centers and distributors in the U.S. and internationally. The Company periodically assesses the payment performance of these customers and establishes reserves for anticipated losses when necessary, which losses historically have not been significant and have not exceeded management’s estimates. Accounts receivable are recorded at the invoiced amount and do not bear interest. The Company maintains an allowance for doubtful accounts based on historical collection experience and expectations of future collection based on current market conditions. The allowance for doubtful accounts is management’s best estimate of the amount of probable credit losses. Account balances are charged against the allowance when it is probable the receivable will not be recovered. The Company’s allowance for bad debts was $83,000 and $50,000 as of December 31, 2015 and 2014, respectively, and no customers accounted for more than 10% of net accounts receivable as of either date. The Company generally permits returns of product from customers if such product is returned in a timely manner and in good condition. Estimated allowances for sales returns are based upon the Company’s historical patterns of product returns matched against sales, and management’s evaluation of specific factors that may increase the risk of product returns. Inventory Inventory is valued at the lower of cost or market (net realizable value). Cost is determined by the first ‑in, first ‑out method. Management evaluates inventory for excess quantities and obsolescence and records an allowance to reduce the carrying value of inventory as determined necessary. Long lived assets Property and equipment is recorded at cost. Depreciation of property and equipment is generally provided using the straight ‑line method over the estimated useful lives of the assets, which range from three to five years. Leasehold improvements are amortized over their estimated useful life or the related lease term, whichever is shorter. Maintenance and repairs are expensed as incurred. All long ‑lived assets are reviewed for impairment in value when changes in circumstances dictate, based upon undiscounted future operating cash flows, and appropriate losses are recognized and reflected in current earnings to the extent the carrying amount of an asset exceeds its estimated fair value, determined by the use of appraisals, discounted cash flow analyses or comparable fair values of similar assets. Intangible assets Intangible assets are recorded at cost and are amortized over the estimated useful life. Intangible assets in the accompanying balance sheet is currently comprised of the cost of the Company’s buyout of a royalty payment obligation and the value of non-compete agreements entered into in 2015 with two former international distributors. See Note 6. Fair value measurements Assets and liabilities are measured using quoted prices in active markets and total fair value is the published market price per unit multiplied by the number of units held without consideration of transaction costs. Assets and liabilities that are measured using significant other observable inputs are valued by reference to similar assets or liabilities, adjusted for contract restrictions and other terms specific to that asset or liability. For these items, a significant portion of fair value is derived by reference to quoted prices of similar assets or liabilities in active markets. For all remaining assets and liabilities, fair value is derived using a fair value model, such as a discounted cash flow model or Black ‑Scholes model. Fair value of financial instruments The carrying amounts of cash equivalents, accounts receivable, accounts payable, and accrued liabilities are considered to be representative of their respective fair values because of the short ‑term nature of those instruments. Based on the borrowing rates currently available to the Company for loans with similar terms, the Company believes that the fair value of long ‑term debt approximates its carrying value. The carrying amount of the warrant liability and non ‑controlling interest represent their fair values. The valuation of assets and liabilities are subject to fair value measurements using a three ‑tiered approach and fair value measurements are classified and disclosed by the Company in one of the following three categories: Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; Level 2: Quoted prices for similar assets and liabilities in active markets, quoted prices in markets that are not active, or inputs which are observable, either directly or indirectly, for substantially the full term of the asset or liability; and Level 3: Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e., supported by little or no market activity). Revenue recognition The Company recognizes revenue from product sales when the following criteria are met: goods are shipped, title and risk of loss has transferred to its customers, persuasive evidence of an arrangement exists and collectability is reasonably assured. Persuasive evidence of an arrangement exists when there is a contractual arrangement in place with the customer. Delivery has occurred when a product is shipped. If persuasive evidence of an arrangement exists and delivery has occurred, the Company determines whether the invoiced amount is fixed or determinable and collectability of the invoiced amount is reasonably assured. The Company assesses whether the invoiced amount is fixed or determinable based on the existing arrangement with the customer, including whether the Company has sufficient history with a customer to reliably estimate the customer’s payment patterns. The Company assesses collectability by evaluating historical cash receipts and individual customer outstanding balances. To the extent all criteria set forth above are not satisfied at the time of shipment, revenue is recognized when cash is received from the customer. Customers are not granted specific rights of return; however, the Company may permit returns of product from customers if such product is returned in a timely manner and in good condition. The Company provides a warranty on its products for one year from the date of shipment, and any product found to be defective or out of specification will be replaced at no charge during the warranty period. Estimated allowances for sales returns and warranty replacements are recorded at the time of sale of the product and are estimated based upon the historical patterns of product returns matched against sales, and an evaluation of specific factors that may increase the risk of product returns. Product returns and warranty replacements to date have been consistent with amounts reserved or accrued and have not been significant. Shipping and handling costs All shipping and handling costs are expensed as incurred and are charged to general and administrative expense. Charges to customers for shipping and handling are credited to general and administrative expense. Advertising costs All advertising costs are expensed as incurred. Advertising costs incurred during the years ended December 31, 2015, 2014 and 2013 were approximately $0.8 million, $0.4 million and $0.5 million, respectively. Stock warrants The Company has issued freestanding warrants to purchase shares of its convertible preferred stock which are accounted for as a liability due to the nature of the underlying redemption provisions of the preferred stock into which the warrants are exercisable. The Company has also issued freestanding warrants to purchase shares of its common stock which are accounted for as a liability because they contain a down ‑round protection provision that is outside the control of the Company. The warrants are recorded on the Company’s balance sheet at their fair value as determined on the date of issuance and are revalued at each subsequent balance sheet date, with fair value changes recognized as other income or expense in the accompanying consolidated statements of operations. The Company will continue to adjust the liability for changes in fair value until the earlier of the exercise or expiration of the warrants. The Company estimates the fair value of the liability using option pricing models and assumptions that are based on the individual characteristics of the warrants or instruments on the valuation date, including assumptions for expected volatility, expected life, yield, and risk ‑free interest rate. Income taxes The Company recognizes deferred tax assets and liabilities for temporary differences between the financial reporting basis and the tax basis of the Company’s assets and liabilities, along with net operating loss and tax credit carryovers. The Company records a valuation allowance against its deferred tax assets to reduce the net carrying value to an amount that it believes is more likely than not to be realized. Management has considered estimated taxable income and ongoing prudent and feasible tax planning strategies in assessing the amount of the valuation allowance. Based upon the weight of available evidence, which includes the Company’s historical operating performance and limited potential to utilize tax credit carryforwards, the Company has determined that total deferred tax assets should be fully offset by a valuation allowance. When the Company establishes or reduces the valuation allowance against its deferred tax assets, its provision for income taxes will increase or decrease, respectively, in the period such determination is made. The Company is required to file federal and state income tax returns in the United States and various other state jurisdictions. The preparation of these state income tax returns requires the company to interpret the applicable tax laws and regulations in effect in such jurisdictions, which could affect the amount of tax paid by us. Additionally, the Company follows an accounting standard addressing the accounting for uncertainty in income taxes that prescribes rules for recognition, measurement, and classification in the financial statements of tax positions taken or expected to be taken in a tax return. Research and development expenses Major components of research and development expense include personnel costs, preclinical studies, clinical trials and related clinical product manufacturing, materials and supplies, and fees paid to consultants. Research and development costs are expensed as goods are received or services are rendered. Costs to acquire technologies to be used in research and development that have not reached technological feasibility and have no alternative future use are also expensed as incurred. At each financial reporting date, the Company accrues the estimated costs of clinical study activities performed by third party clinical sites with whom the Company has agreements that provide for fees based upon the quantities of subjects enrolled and clinical evaluation visits that occur over the life of the study. The cost estimates are determined based upon a review of the agreements and data collected by internal and external clinical personnel as to the status of enrollment and subject visits, and are based upon the facts and circumstances known to the Company at each financial reporting date. If the actual performance of activities varies from the assumptions used in the cost estimates, the accruals are adjusted accordingly. There have been no material adjustments to the Company’s prior period accrued estimates for clinical trial activities through December 31, 2015. Stock ‑based compensation The Company recognizes compensation expense for all stock ‑based awards granted to employees and nonemployees, including members of its Board of Directors. The fair value of stock ‑based awards made to employees is estimated at the grant date using the Black ‑Scholes option ‑pricing model, and the portion that is ultimately expected to vest is recognized as compensation cost over the requisite service period using the straight ‑line method. The determination of the fair value ‑based measurement of stock options on the date of grant using an option pricing model is affected by the determination of the fair value of the underlying stock as well as assumptions regarding a number of highly complex and subjective variables. These variables include, but are not limited to, the Company’s stock price volatility over the expected term of the grants, and actual and projected employee stock option exercise behaviors. In the future, as additional empirical evidence regarding these estimates becomes available, the Company may change or refine its approach of deriving them, and these changes could impact the fair value ‑based measurement of stock options granted in the future. Changes in the fair value ‑based measurement of stock awards could materially impact the Company’s operating results. The fair values of stock ‑based awards made to nonemployees are remeasured at each reporting period using the Black ‑Scholes option ‑pricing model. Compensation expense for these stock ‑based awards is determined by applying the remeasured fair values to the shares that have vested during a period. Comprehensive loss All components of comprehensive loss, including net loss, are reported in the financial statements in the period in which they are recognized. Comprehensive loss is defined as the change in equity during a period from transactions and other events and circumstances from non ‑owner sources, including unrealized gains and losses on marketable securities and foreign currency translation adjustments. Net loss per share Basic net loss per share is calculated by dividing the net loss by the weighted ‑ average number of common shares that were outstanding for the period, without consideration for common stock equivalents. Diluted net loss per share is calculated by dividing the net loss by the sum of the weighted ‑average number of dilutive common share equivalents outstanding for the period determined using the treasury ‑stock method. Common stock equivalents are comprised of convertible preferred stock, stock warrants, and stock options outstanding under the Company’s stock option plans. The calculation of diluted net loss per share requires that, to the extent the average fair value of the underlying shares for the reporting period exceeds the exercise price of the warrants and the presumed exercise of such securities are dilutive to net loss per share for the period, adjustments to net loss used in the calculation are required to remove the change in fair value of the warrants for the period. Likewise, adjustments to the denominator are required to reflect the related dilutive shares. For all periods presented, there is no difference in the number of shares used to calculate basic and diluted shares outstanding due to the Company’s net loss position and stock warrants being anti ‑dilutive. Potentially dilutive securities not included in the calculation of diluted net loss per share attributable to common stockholders because to do so would be anti ‑dilutive were as follows (in common stock equivalent shares, in thousands): As of December 31, Convertible preferred stock outstanding — Preferred stock warrants outstanding — Common stock warrants outstanding — — Stock options outstanding Employee stock purchase plan — — Recent accounting pronouncements In April 2014, the Financial Accounting Standards Board (FASB) issued an accounting standards update (ASU) that raises the threshold for disposals to qualify as discontinued operations and allows companies to have significant continuing involvement with and continuing cash flows from or to the discontinued operation. It also requires additional disclosures for discontinued operations and new disclosures for individually material disposal transactions that do not meet the definition of a discontinued operation. This guidance was effective for fiscal years beginning after December 15, 2014, which was the Company’s fiscal year 2015, with early adoption permitted. Adoption of the guidance did not have a material impact on the Company’s consolidated financial statements. In May 2014, the FASB issued guidance codified in Accounting Standard Codification (ASC) 606, Revenue Recognition—Revenue from Contracts with Customers , which amends the guidance in former ASC 605, Revenue Recognition , which provides a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and will supersede most current revenue recognition guidance. This ASU is based on the principle that revenue is recognized to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The ASU also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. In July 2015, the FASB deferred the effective date for annual reporting periods beginning after December 15, 2017 (including interim periods within those periods). Early adoption is permitted to the original effective date of December 15, 2016 (including interim periods within those periods). The Company is currently evaluating the impact of the provisions of ASC 606 on its consolidated financial statements. In June 2014, the FASB issued an ASU that requires a performance target that affects vesting of a share ‑based payment award and that could be achieved after the requisite service period to be treated as a performance condition. As such, the performance target should not be reflected in estimating the grant date fair value of the award. Compensation cost should be recognized over the required service period if it is probable that the performance target will be achieved. This guidance will be effective for fiscal years beginning after December 15, 2015, which will be the Company’s fiscal year 2016, with early adoption permitted. The Company does not expect the adoption of the guidance to have material impact on the Company’s consolidated financial statements. In August 2014, the FASB issued ASU No. 2014 ‑15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern . This ASU introduces an explicit requirement for management to assess if there is substantial doubt about an entity’s ability to continue as a going concern, and to provide related footnote disclosures in certain circumstances. In connection with each annual and interim period, management must assess if there is substantial doubt about an entity’s ability to continue as a going concern within one year after the issuance date. Disclosures are required if conditions give rise to substantial doubt. ASU 2014 ‑15 is effective for all entities in the first annual period ending after December 15, 2016. The Company is currently assessing the potential effects of this ASU on the consolidated financial statements. In February 2015, the FASB issued Accounting Standards Update (ASU) 2015 ‑02, Amendments to the Consolidation Analysis , which eliminates the deferral of FAS 167, which allows reporting entities with interests in certain investment funds to follow the consolidation guidance in FIN 46(R), and make other changes to both the variable interest model and the voting model. The ASU is effective for annual periods beginning after December 15, 2015 and interim periods therein, with early adoption permitted. During 2015, the Company early adopted the provisions of the ASU effective January 1, 2015. Based on the asset purchase transaction with DOSE on June 30, 2015 and the Company’s evaluation of the modified relationship with DOSE, management determined that after the transaction DOSE is no longer a variable interest entity (VIE) requiring consolidation (See Note 12). In July 2015, the FASB issued ASU 2015 ‑11, Inventory (Topic 330), Simplifying the Measurement of Inventory , which changes the measurement principle for inventory from the lower of cost or market to the lower of cost and net realizable value. ASU 2015 ‑11 defines net realizable value as estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. The new guidance must be applied on a prospective basis and is effective for fiscal years beginning after December 15, 2015, and interim periods within those years, with early adoption permitted. The Company does not believe the implementation of this standard will have a material impact on its consolidated financial statements. In November 2015, the FASB issued guidance on balance sheet classification of deferred taxes. Current GAAP requires an entity to separate deferred income tax liabilities and assets into current and noncurrent amounts in a classified statement of financial position. To simplify the presentation of deferred income taxes, the new guidance requires that deferred tax liabilities and assets be classified as noncurrent in a classified statement of financial position. The current requirement that deferred tax liabilities and assets of a tax-paying component of an entity be offset and presented as a single amount is not affected by this new guidance. The new guidance is effective for fiscal years beginning after December 15, 2016, and interim periods within those annual periods. Earlier application is permitted for all entities as of the beginning of an interim or annual reporting period. For the year ended December 31, 2015, the Company has elected to early adopt this update and will present all its deferred tax assets and liabilities as non-current for the period ended December 31, 2015. The Company has applied the Standard on a prospective basis. Therefore, the classifications of deferred tax assets and liabilities in periods prior to the period ended December 31, 2015 have not been changed from the original presentation. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842). The ASU requires management to recognize lease assets and lease liabilities by lessees for all operating leases. The ASU is effective for periods ending on December 15, 2018 and interim periods therein on a modified retrospective basis. The Company is currently evaluating the impact this guidance will have on its consolidated financial statements.

Balance Sheet Details

Balance Sheet Details	12 Months Ended
	Dec. 31, 2015
Balance Sheet Details
Balance Sheet Details	3. Balance sheet details Short-term investments Short-term investments consisted of the following (in thousands): At December 31, 2015 Maturity Amortized cost Unrealized Unrealized Estimated (in years) or cost gains losses fair value Government agency bonds 1 - 3 $ $ $ $ Commercial paper less than 1 — Corporate notes 1 -3 — Asset-backed securities 1 -3 — Total $ $ — $ $ The Company had no short-term investments at December 31, 2014. Accounts receivable, net Accounts receivable consisted of the following (in thousands): December 31, Accounts receivable $ $ Less allowance for doubtful accounts Total $ $ Inventory Inventory consisted of the following (in thousands): December 31, Finished goods $ $ Work in process Raw material $ $ Property and equipment, net Property and equipment consisted of the following (in thousands): December 31, Equipment $ $ Furniture and fixtures Leasehold improvements Computer equipment and software Less accumulated depreciation and amortization $ $ Depreciation and amortization expense related to property and equipment was $0.8 million, $0.7 million and $0.6 million for the years ended December 31, 2015, 2014 and 2013, respectively. Accrued liabilities Accrued liabilities consisted of the following (in thousands): December 31, Accrued contract payments (see Note 11) $ $ Accrued bonuses Accrued vacation benefits Other accrued liabilities $ $

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2015
Fair Value Measurements
Fair Value Measurements	4. Fair value measurements Fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market ‑based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. The following ta bles present information about the Company’s financial assets and financial liabilities measured at fair value on a recurring basis as of December 31, 2015 and 2014, and indicates the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value (in thousands): At December 31, 2015 Significant Quoted prices in other Significant active markets for observable unobservable December 31, identical assets inputs inputs (Level 1) (Level 2) (Level 3) Assets Money market funds (i) $ $ $ — $ — Government agency bonds (ii) — — Commercial paper (ii) — — Corporate notes (ii) — — Asset-backed securities (ii) — — Total assets $ $ $ $ — Liabilities Stock warrant liability $ $ — $ — $ Total liabilities $ $ — $ — $ (i) Included in cash and cash equivalents with a maturity of three months or less from date of purchase on the consolidated balance sheets. (ii) Included in cash and cash equivalents or short-term investments on the consolidated balance sheets. At December 31, 2014 Significant Quoted prices in other Significant active markets for observable unobservable December 31, identical assets inputs inputs (Level 1) (Level 2) (Level 3) Assets Cash equivalents $ — $ — $ — $ — Total assets $ — $ — $ — $ — Liabilities Stock warrant liability $ $ — $ — $ Total liabilities $ $ — $ — $ Money market funds are highly liquid investments and are actively traded. The pricing information on these investment instruments is readily available and can be independently validated as of the measurement date. This approach results in the classification of these securities as Level 1 of the fair value hierarchy. U.S. government agency bonds, commercial paper, corporate notes and asset-backed securities are measured at fair value using Level 2 inputs. The Company reviews trading activity and pricing for these investments as of each measurement date. When sufficient quoted pricing for identical securities is not available, the Company uses market pricing and other observable market inputs for similar securities obtained from third party data providers. These inputs represent quoted prices for similar assets in active markets or these inputs have been derived from observable market data. This approach results in the classification of these securities as Level 2 of the fair value hierarchy. The stock warrant liability is recorded at fair value using the Black Scholes option pricing model, which requires inputs such as the expected term of the warrant, volatility and risk free interest rate. These inputs are subjective and generally require significant analysis and judgment to develop, and are therefore considered Level 3 inputs. There were no transfers between levels within the fair value hierarchy during the periods presented. In con junction with the Company’s February 2015 Amended and Restated Revolving Credit and Term Loan Agreement as more fully described in Note 6, the Company issued warrants to the lenders to purchase 11,298 shares of common stock at an exercise price of $8.85 per share. Warrants to purchase 5,649 shares of common stock were exercised by the lenders in September 2015. For the year ended December 31, 2015, the Company recorded other expense of $0.2 million related to changes in the fair value of the warrants. The fair value of the warrants as of the issuance date was estimated to be $53,000 using an option pricing framework considering multiple exit scenarios and the probability of a down ‑round financing. The following assumptions were deemed by the Company to be significant unobservable inputs: risk ‑free interest rate of 1.9%; dividend yield of 0.0%; expected volatility of 70.0%; and an expected life of 7 years. The fair value of the warrants to purchase the remaining 5,649 shares of common stock as of December 31, 2015 was estimated to be $0.1 million using the Black ‑Scholes valuation model with the following assumptions deemed by the Company to be significant unobservable inputs: risk ‑free interest rate of 1.9%; dividend yield of 0.0%; expected volatility of 54.8%; and an expected life of 6.2 years. If the value of the underlying shares were to decrease by 10%, the fair value of the warrants would decrease by approximately the same amount. In conjunction with loans to the Company in 2010 from certain holders of the Company’s then ‑outstanding preferred stock, which shares were subsequently converted into preferred stock in 2011, the Company issued warrants to such holders to purchase 156,860 shares of Series D convertible preferred stock at $7.65 per share. Warrants to purchase 29,334 shares were exercised in 2014. Warrants to purchase 127,526 shares were exercised in 2015; 49,410 warrant shares were exercised with cash payment and 78,116 warrant shares were net exercised into 44,914 shares of common stock immediately prior to the IPO at the IPO price per share of $18.00 per share. For the years ended December 31, 2015, 2014 and 2013, the Company recorded other income of approximately $0.9 million, $5,000 and $0.3 million, respectively, related to changes in the fair value of the warrants. In conjunction with loans in 2006 from certain holders of the Company’s preferred stock, which were repaid in 2007, the Company issued warrants to purchase 185,714 shares of Series C preferred stock at $7.00 per share. All of these warrants were exercised in January 2014. For the years ended December 31, 2015, 2014 and 2013, the Company recorded other income of $0 , $0 and $0.1 million, respectively, related to changes in the fair value of the warrants. The following table provides a reconciliation of liabilities measured at fair value using level 3 significant unobservable inputs (Level 3) on a recurring basis (in thousands): Warrant liability Balance at December 31, 2013 $ Issuance of Series C convertible preferred stock in connection with exercises of preferred stock warrants Issuance of Series D convertible preferred stock in connection with exercises of preferred stock warrants Change in the fair value of stock warrants Balance at December 31, 2014 Issuance of common stock warrants Change in the fair value of stock warrants Issuance of Series D convertible preferred stock in connection with exercises of preferred stock warrants Issuance of common stock in connection with exercise of common stock warrant Balance at December 31, 2015 $

Convertible Notess Payable

Convertible Notess Payable	12 Months Ended
	Dec. 31, 2015
Convertible Notes Payable
Convertible Notes Payable	5. Convertible notes payable In August and October 2012, the Company entered into convertible note agreements with certain holders of its preferred stock to borrow an aggregate of $10.5 million. The convertible notes included the following terms and conditions: (1) interest rate of 7.0%; (2) principal and interest due upon the earlier of a change in control event or demand at any time after January 31, 2013; and (3) automatic conversion of principal and accrued interest into shares of preferred stock at a conversion price equal to the purchase price per share of the equity security issued and sold in the next preferred stock financing. Amounts borrowed under the convertible notes were unsecured. In January 2013, the principal amount of the convertible notes and all accrued interest were converted into shares of Series F convertible preferred stock pursuant to the terms of the convertible note agreements.

Long-term Debt

Long-term Debt	12 Months Ended
	Dec. 31, 2015
Long-Term Debt.
Long-Term Debt	6. Long ‑term debt Notes payable in connection with GMP Vision Solutions In January 2007, the Company entered into an agreement (the Original GMP Agreement) with GMP Vision Solutions, Inc. (GMP) to acquire certain in ‑process research and development. In connection with the Original GMP Agreement, the Company was obligated to make periodic royalty payments equal to a single ‑digit percentage of revenues received for royalty ‑bearing products and periodic royalty payments at a higher royalty rate applied to all amounts received in connection with the grant of licenses or sublicenses of the related intellectual property. No related royalty expense was recorded in cost of sales in the years ended December 31, 2015, 2014 and 2013. In December 2012, the Company entered into an agreement with GMP in which it paid GMP $1.0 million for a 90 ‑day option to buy out all remaining royalties payable to GMP. In April 2013, the option expired unexercised, and as provided in the agreement, the $1.0 million payment satisfied the Company’s obligation to pay the first $1.0 million in royalties earned beginning on January 1, 2013. The $1.0 million payment was recorded in cost of sales in the year ended December 31, 2012. In November 2013, the Company entered into an amended agreement with GMP in which remaining royalties payable to GMP (the Buyout Agreement) were canceled in exchange for the issuance of $17.5 million in promissory notes payable to GMP and a party related to GMP (together, the GMP Note Parties). The GMP notes are collateralized by all of the Company’s assets, excluding intellectual property. However, in connection with the Buyout Agreement, the GMP Note Parties entered into agreements with the Company’s primary bank pursuant to which any collateralized interests, liens, rights of payment or ability to initiate any enforcement actions in the event of an event of default were subordinate to the rights of the Company’s primary bank under the Credit Agreement (and subsequently, the Amended Credit Agreement) which was paid off in full on July 31, 2015 (see Note 6). The Buyout Agreement also calls for a payment of up to $2.0 million in the event of a sale of the Company meeting certain criteria. The promissory notes carry an interest rate of 5% per annum and required monthly interest only payments from November 30, 2013 through December 31, 2014 of $72,900 , followed by 24 equal monthly principal and interest payments of $767,700 , which began on January 31, 2015, and end on December 31, 2016. The Company concluded that the $17.5 million transaction represented the purchase of an intangible asset. The Company estimated a useful life of five years over which the intangible asset will be amortized to cost of sales in the accompanying statements of operations, which amortization period was determined after consideration of the projected outgoing royalty payment stream had the Buyout Agreement not occurred, and the remaining life of the patents obtained in the Original GMP Agreement. After determining that the pattern of future cash flows assoc iated with this intangible asset could not be reliably estimated with a high level of precision, the Company concluded that the intangible asset will be amortized on a straight ‑line basis over the estimated useful life. Bank loan facility In June 2013, the Company entered into a Loan and Security Agreement (the Credit Agreement) with the Company’s primary bank, under which the bank agreed to extend to the Company a line of credit in the maximum principal amount of $6.0 million. Advances under the line of credit were limited to the lesser of (i) $6.0 million or (ii) 77% of the sum of cash, cash equivalents and eligible domestic accounts receivable. The entire unpaid principal amount plus any accrued but unpaid interest were to become due and payable in full on June 5, 2015. Obligations under the Credit Agreement bore interest on the outstanding daily balance thereof at the bank’s prime rate plus 0.5% ( 3.75% at December 31, 2014). Amounts owed were secured by a first priority security interest in all of the Company’s assets, excluding intellectual property. The Credit Agreement included certain reporting and financial covenants which, if not met, could have constituted an event of default under the Credit Agreement. As of December 31, 2015 and 2014, the balance outstanding on the line of credit was $0 and $1.9 million, respectively. In February 2015, the Agreement was amended and restated, at which time the balance outstanding on the line of credit was $2.1 million. In February 2015, the Company and its primary bank executed an Amended and Restated Revolving Credit and Term Loan Agreement (the Amended Credit Agreement) which provided for a $5.0 million senior secured term loan, a $5.0 million senior secured draw ‑to term loan and an $8.0 million senior secured revolving credit facility. Amounts owed under the Amended Credit Agreement were secured by a first priority security interest in all of the Company’s assets, excluding intellectual property. The Amended Credit Agreement included certain reporting and financial covenants which, if not met, could have constituted an event of default under the Amended Credit Agreement. On the closing date, the Company received $5.0 million cash under the senior secured term loan and immediately paid off the $2.1 million balance outstanding on the line of credit under the Credit Agreement. The Company incurred loan origination fees of $41,000 which was recorded as a loan discount, and debt issuance costs of $0.1 million which was recorded as a deferred asset. The term loan required quarterly principal payments of $0.4 million over a three ‑year period beginning May 1, 2016. The senior secured draw ‑to term loan was available through February 23, 2016 for advances up to an aggregate of $5.0 million, and it required quarterly principal payments equal to 1/12 of the aggregate principal amount over a three ‑year period beginning May 1, 2016. As of July 31, 2015, the Company had drawn $2.0 million under the draw ‑to term loan. The senior secured term loan and draw ‑to term loan would have matured and would have been required to be fully paid by February 23, 2019. Advances under the revolving line of credit were limited to the lesser of (i) $8.0 million or (ii) a calculated borrowing base consisting of (a) 80% of eligible accounts receivable plus (b) the lesser of 30% of eligible inventory or $1.5 million. The entire unpaid principal amount plus any accrued but unpaid interest under the revolving line of credit were due to become payable in full on February 23, 2017. The Company was permitted to make voluntary prepayments of the term and draw ‑to term loans without prepayment penalty. On July 31, 2015, the Company paid off in full all amounts outstanding under the Amended Credit Agreement with the payment of $7.0 million in principal plus all interest and fees payable through the payoff date, and recorded a loss on extinguishment of debt in the amount of $0.2 million. Accordingly, this facility was terminated and is no longer outstanding and available to the Company. Outstanding balances under the senior secured term loan and senior secured draw ‑to term loan bore interest on the outstanding daily balance at an annual percentage rate equal to the bank’s prime rate plus 2% . At the Company’s option all or a portion of the amounts owed under any of the senior secured term loan and draw ‑to term loan may have been converted into Eurodollar ‑based advances at an annual percentage rate equal to LIBOR plus 3% . Outstanding balances under the revolving credit facility bore interest on the outstanding daily balance thereof at an annual percentage rate equal to the bank’s prime rate plus 1.75% . At the Company’s option all or a portion of the amounts owed under the revolving credit facility may have been converted into Eurodollar ‑based advances at an annual percentage rate equal to LIBOR plus 2.75% . In connection with the execution of the Amended Credit Agreement, the Company issued warrants to the lenders to purchase an aggregate of 11,298 shares of common stock at an exercise price of $8.85 per share as more fully described in Note 4. Warrants to purchase 5,649 shares of common stock were exercised by the lenders in September 2015. The Company accounted for the debt discount and deferred asset utilizing the effective interest method. Amortization of debt discount and the deferred asset to interest expense amounted to $15,000 for the year ended December 31, 2015. The Company’s debt balances, including current portions, were as follows (in thousands): December 31, Notes payable $ $ Total debt Less current portion of long-term debt Total long-term debt $ $ In 2015, the Company entered into agreements with two international distributors pursuant to which their distribution rights with the Company were terminated effective as of December 31, 2015. As part of the agreements the distributors agreed to provide certain services to, and not compete with, the Company for one-to-two years in exchange for payments calculated based on single-digit percentages of the Company’s future revenues in those years in the countries that had comprised their territories. Management recorded the estimated fair value of the non-compete provisions as an intangible asset of approximately $0.3 million, which will be amortized on a straight-line basis to selling, general and administrative expense over the one -to- two year period . The following reflects the composition of intangible assets, net (in thousands): December 31, December 31, GMP royalty buyout $ $ Non-compete agreements — Accumulated amortization Total $ $ Weighted average amortization period (in months) In the years ended December 31, 2015, 2014 and 2013, the Company recorded related amortization expense of $3.5 million, $3.5 million and $0.5 million in cost of sales. Estimated amortization expense will be $3.7 million in 2016, $3.6 million in 2017 and $3.0 million in 2018 .

Convertible Preferred Stock

Convertible Preferred Stock	12 Months Ended
	Dec. 31, 2015
Convertible Preferred Stock.
Convertible Preferred Stock	7. Convertible preferred stock Immediately prior to the completion of the IPO, and after all unexercised warrants to purchase shares of Series D convertible preferred stock were net exercised at the IPO price per share, the Company had outstanding 21,736,367 shares of convertible preferred stock which automatically converted into 21,736,367 shares of the Company’s common stock. The related carrying value of $159.1 million was reclassified to additional paid-in capital in the period ending June 30, 2015, and no shares of convertible preferred stock were outstanding thereafter. The following reflects the composition of convertible preferred stock as of December 31, 2014 (in thousands, except per share amounts): Series A convertible preferred stock, $0.001 par value; 3,000 shares authorized and 1,200 shares issued and outstanding at December 31, 2014; liquidation preference of $3,000 at December 31, 2014 $ Series B convertible preferred stock, $0.001 par value; 5,805 shares authorized and 2,322 shares issued and outstanding at December 31, 2014; liquidation preference of $12,538 at December 31, 2014 Series C convertible preferred stock, $0.001 par value; 14,750 shares authorized and 5,819 shares issued and outstanding at December 31, 2014 ; liquidation preference of $40,731 at December 31, 2014 Series D convertible preferred stock, $0.001 par value; 13,844 shares authorized and 5,410 shares issued and outstanding at December 31, 2014; liquidation preference of $41,387 at December 31, 2014 Series E convertible preferred stock, $0.001 par value; 8,754 shares authorized and 3,501 shares issued and outstanding at December 31, 2014; liquidation preference of $29,500 at December 31, 2014 Series F convertible preferred stock, $0.001 par value; 8,474 shares authorized and 3,390 shares issued and outstanding at December 31, 2014; liquidation preference of $30,000 at December 31, 2014 Total $

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2015
Stockholders' Equity
Stockholders' Equity	8. Stockholders’ equity Convertible preferred stock On June 30, 2015, in connection with the closing of the Company’s IPO, all shares of convertible preferred stock automatically converted into common stock at a conversion ratio of one ‑to ‑one. Until the conversion of the Company’s convertible preferred stock into common stock in conjunction with the IPO, it was classified as temporary equity in the accompanying consolidated balance sheets in accordance with authoritative guidance. The preferred stock was not redeemable; however, upon certain change in control events that are outside of the Company’s control, including liquidation, sale or transfer of control of the Company, holders of the convertible preferred stock had the right to receive their liquidation preference under the terms of the Company’s pre ‑IPO certificate of incorporation. Accordingly, the Company did not recognize any accretion of the value of the convertible preferred stock. In January 2013, the Company issued 3.4 million shares of Series F convertible preferred stock (Series F) for $30.0 million, or $8.85 per share. Cash of $19.2 million was paid for 2.2 million Series F shares and a total of $10.8 million in principal and accrued interest due under convertible notes was converted into 1.2 million Series F shares. The relative rights, terms, privileges, and restrictions that were granted to or imposed upon preferred stockholders are described below: Dividends The holders of Series A, B, C, D, E and F convertible preferred stock were entitled to receive annual noncumulative dividends of $0.20 , $0.432 , $0.56 , $0.612 , $0.674 and $0.708 per share, respectively, when and if declared by the Board of Directors, prior and in preference to shareholders of common stock. No dividends were ever declared on the convertible preferred stock. Liquidation preference In the event of a liquidation of the Company, holders of Series A, B, C, D, E and F preferred stock were entitled to a liquidation preference of $2.50 , $5.40 , $7.00 , $7.65 , $8.43 and $8.85 per share, as adjusted for any stock dividends, combinations, or splits with respect to such shares, respectively, and any declared but unpaid dividends prior and in preference to any distribution of the assets of the corporation. The remaining assets of the Company were to have been distributed on a pro rata basis to the holders of the common stock. Conversion rights Each share of Series A, B, C, D, E and F preferred stock was convertible at the option of the holder, at any time after the date of issuance, into common stock at the initial conversion rate of one ‑to ‑one. The conversion rate was subject to adjustment for antidilution provisions as defined. The Series A, B, C, D, E and F preferred stock was automatically convertible into common shares upon the earlier of: (a) the day immediately preceding the closing of an underwritten public offering in which the Company receives $50.0 million or more in gross proceeds or (b) the receipt of consent of the holders of at least 67% of the then outstanding shares of preferred stock, voting together as a single class. On June 30, 2015, in connection with the closing of the Company’s IPO, all shares of convertible preferred stock automatically converted into common stock at the conversion ratio of one ‑to ‑one. Voting rights Each share of Series A, B, C, D, E and F preferred stock had voting rights equal to an equivalent number of shares of common stock into which it was convertible. The preferred stockholders were entitled to vote as a separate class under specific circumstances. As long as at least 1.4 million shares of preferred stock remained outstanding, the Company was required to obtain approval from at least 67% of the holders of preferred stock in order to, among other things, alter the certificate of incorporation as related to preferred stock, change the authorized number of shares of preferred stock, acquire a business, or effect a merger, consolidation or sale of assets where the existing stockholders retain less than 51% of the voting stock of the surviving entity. In addition to any other vote required by law or the Company’s certificate of incorporation, (a) as long as 0.4 million shares of Series E preferred stock were outstanding, the Company was required to obtain the approval of the holders of a majority of the Series E preferred stock in order to, among other things, alter the certificate of incorporation as it relates to the Series E preferred stock, change the authorized number of shares of Series E preferred stock, sell or license the Company’s assets or effect a merger or consolidation where the existing stockholders retain less than 51% of the voting power of the surviving corporation and the stock price is less than $15.30 per share, or take any action that would alter or waive certain liquidation rights of the Series E preferred stock and (b) as long as 0.2 million shares of Series F preferred stock were outstanding, the Company was required to obtain the approval of the holders of at least 60% of the Series F preferred stock in order to, among other things, alter the certificate of incorporation as it relates to the Series F preferred stock, change the authorized number of shares of Series E preferred stock, sell or license the Company’s assets or effect a merger or consolidation where the existing stockholders retain less than 51% of the voting power of the surviving corporation and the stock price is less than $15.30 per share, or take any action that would alter or waive certain liquidation rights of the Series F preferred stock. Preferred stock The Company is authorized to issue 5.0 million shares of its preferred stock. No shares of preferred stock have been issued since it was authorized in June 2015. Common stock Prior to the completion of the Company’s IPO in June 2015, all common stock issued resulted from the founding of the Company and the exercises of stock options. On June 30, 2015, the Company completed its IPO, selling 6.9 million newly issued shares of common stock at a price of $18.00 per share. Immediately prior to the closing of the IPO, all unexercised warrants to purchase shares of Series D convertible preferred stock were net exercised at the IPO price per share, and then all outstanding shares of convertible preferred stock automatically converted into approximately 21.7 million shares of common stock. In 2013, the Company repurchased at fair market value and placed into treasury 28,000 shares of its common stock that had been acquired in connection with the exercise of a stock option. Stock-based compensation The Company has four stock ‑based compensation plans (collectively, the Stock Plans)—the 2001 Stock Option Plan (the 2001 Stock Plan), the 2011 Stock Plan, the 2015 Omnibus Incentive Compensation Plan (the 2015 Stock Plan) and the 2015 Employee Stock Purchase Plan (the ESPP). The purpose of these plans is to provide incentives to employees, directors and nonemployee consultants. The Company will no longer grant any awards under the 2001 Stock Plan and the 2011 Stock Plan. The maximum term of any stock options granted under the Stock Plans is 10 years. The options generally vest 25% on the first anniversary of the original vesting date, with the balance vesting monthly or annually over the remaining three years. Stock options are granted at exercise prices at least equal to the fair value of the underlying stock at the date of the grant. The Company reserved an aggregate of 4.5 million shares of common stock for issuance under the 2015 Stock Plan, and 450,000 shares of common stock for issuance under the ESPP that permits eligible employees to purchase shares of the Company’s common stock, using contributions via payroll deduction of up to 15% of their earnings, at a price per share equal to 85% of the lower of the stock’s fair market value on the offering date or purchase date. The ESPP is intended to qualify as an “employee stock purchase plan” under Section 423 of the Internal Revenue Code. Stock options granted pursuant to the 2001 Stock Plan and 2011 Stock Plan generally permit optionees to elect to exercise unvested options in exchange for restricted common stock. All unvested shares issued upon the early exercise of stock options, so long as they remain unvested, are subject to the Company’s right of repurchase at the optionee’s original exercise price for a 90 ‑day period beginning on the date that an optionee’s service with the Company voluntarily or involuntarily terminates. Consistent with authoritative guidance, early exercises are not considered exercises for accounting purposes. Cash received for the exercise of unvested options is recorded as a liability, which liability is released to equity at each reporting date as the shares vest. During the years ended December 31, 2015, 2014 and 2013, there were option exercises for 337 , 55,908 and 0 unvested shares, respectively. As of December 31, 2015 and 2014, 16,682 and 38,678 shares, respectively, remained subject to a repurchase right by the Company. As of December 31, 2015 and 2014, the related liability, which is included in other accrued liabilities in the accompanying consolidated balance sheets, was approximately $67,000 and $153,000 , respectively. The following table summarizes stock option activity under the 2001 Stock Plan, 2011 Stock Plan and 2015 Stock Plan (in thousands): Number of Weighted- shares Weighted- average Aggregate underlying average remaining intrinsic options exercise price contractual value (in (in thousands) per share life (in years) thousands) Outstanding at December 31, 2012 $ Granted Exercised $ Canceled/forfeited/expired Outstanding at December 31, 2013 $ $ Granted Exercised $ Canceled/forfeited/expired Outstanding at December 31, 2014 $ $ Granted Exercised $ Canceled/forfeited/expired Outstanding at December 31, 2015 $ $ Vested and expected to vest at December 31, 2015 $ $ Exercisable at December 31, 2015 $ $ Intrinsic value is calculated as the difference between the exercise price of the underlying options and the fair value of the common stock for the options that had exercise prices that were lower than the fair value per share of the common stock on the date of exercise. Valuation and expense recognition of stock ‑based awards The Company accounts for the measurement and recognition of compensation expense for all share ‑based awards made to the Company’s employees and nonemployees based on the estimated fair value of the awards. The following table summarizes the allocation of stock ‑based compensation in the accompanying consolidated statements of operations (in thousands): Year ended December 31, Cost of sales $ $ $ Selling, general & administrative Research and development Total $ $ $ The weighted average estimated grant date fair value per share of stock options granted during the years ended December 31, 2015, 2014 and 2013 was $9.77 , $4.08 and $2.53 , respectively. At December 31, 2015, the total unamortized stock ‑based compensation expense of approximately $11.7 million is to be recognized over the stock options’ remaining vesting terms of approximately 4.0 years ( 3.0 years on a weighted average basis). The total fair value of stock options that vested during the years ended December 31, 2015 and 2014 was $5.2 million and $1.8 million, respectively. In July 2014, the Company granted stock options to purchase an aggregate of 1.2 million shares of common stock, which options contain a performance condition such that they would only become exercisable in the event that the Company’s common stock was listed on a national securities exchange within one year from the date of grant. In accordance with authoritative guidance, the Company did not record any compensation expense associated with the grants until the performance condition was satisfied on June 30, 2015. As of December 31, 2014 and June 30, 2015, the total unamortized share ‑based compensation expense for these grants was $4.9 million. Upon the completion of the IPO on June 30, 2015, the Company immediately recognized cumulative compensation cost of $3.8 million for the grants as if the method had been applied since the date of grant using the required graded accelerated attribution method, and the Company will record compensation expense over the remainder of the four ‑year vesting period using this method. Stock options granted subsequent to July 2014 do not contain a performance condition. The Company uses the Black ‑Scholes option ‑pricing model to estimate the fair value of stock ‑based awards on the date of grant. The determination of fair value using the Black ‑Scholes option ‑pricing model is affected by the estimated fair market value per share of the Company’s common stock as well as assumptions regarding a number of highly complex and subjective variables, including expected stock price volatility, risk ‑free interest rate, expected dividends and expected option life and generally requires significant management judgment to determine. Risk ‑free interest rate. The risk ‑free interest rate is equal to the U.S. Treasury Note interest rate for the comparable term for the expected option life as of the valuation date. If the expected option life is between the U.S. Treasury Note rates of two published terms, then the risk ‑free interest rate is based on the straight ‑line interpolation between the U.S. Treasury Note rates of the two published terms as of the valuation date. Expected dividend yield. The expected dividend yield is based on the Company’s history and expectation of dividend payouts. The Company has never declared or paid any cash dividends and does not presently plan to pay cash dividends in the foreseeable future. Expected volatility. The Company only recently began to have publicly traded equity and has a limited operating history and a lack of Company ‑specific historical and implied volatility data, and therefore has estimated its stock price volatility based upon an index of the historical volatilities of a group of comparable publicly ‑traded medical device peer companies. The historical volatility data was computed using the historical daily closing prices for the selected peer companies’ shares during the equivalent period of the calculated expected term of the Company’s share ‑based awards. The Company will continue to apply this process until a sufficient amount of historical information regarding the volatility of its own stock price becomes available. Expected term. The Company has concluded that its stock option exercise history does not provide a reasonable basis upon which to estimate expected term, and therefore it uses the simplified method for estimating the expected term of stock option grants. Under this approach, the weighted ‑average expected term is presumed to be the average of the vesting term and the contractual term of the option. Fair value of common stock. Historically, and until the June 30, 2015 completion of the Company’s IPO, the fair value of the shares of common stock underlying the stock options has been the responsibility of and determined by the Company’s Board of Directors. Because there had been no public market for the Company’s common stock, the Board of Directors determined the fair value of common stock at the time of grant of the option by considering a number of objective and subjective factors including independent third ‑party valuations of the Company’s common stock, sales prices of convertible preferred stock to unrelated third parties, operating and financial performance, the lack of liquidity of capital stock and general and industry specific economic outlook, among other factors. Subsequent to the date of the Company’s IPO in June 2015, the Company has used the daily market prices in the determination of the fair value of its common stock. Stock ‑based awards to employees The weighted ‑average assumptions used to estimate the fair value of options granted to employees were as follows: Year ended December 31, Risk-free interest rate % % % Expected dividend yield % % % Expected volatility % % % Expected term (in years) Forfeiture rate. The Company reduces employee share ‑based compensation expense for estimated forfeitures. Forfeitures are estimated at the time of grant based on historical experience, and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. The weighted ‑average per share exercise price of options granted to employees during the years ended December 31, 2015, 2014 and 2013 was $17.79 , $7.13 and $4.30 , respectively. Stock ‑based awards to nonemployees The fair values of stock ‑based awards made to nonemployees are remeasured at the end of the reporting period using the Black ‑Scholes option pricing model. The expected life for each option is determined based on the time remaining until the expiration of the option as of the date of remeasurement. Compensation expense for these share ‑based awards is determined by applying the recalculated fair values to the shares that have vested during a period. Through December 31, 2015, in conjunction with various consulting agreements, the Company issued options to nonemployees to purchase 891,400 shares of common stock at exercise prices ranging from $0.25 to $25.91 per share. For the years ended December 31, 2015, 2014 and 2013, the Company recorded nonemployee stock ‑based compensation expense of $1.1 million, $0.3 million and $0.3 million, respectively. Common stock reserved for future issuance Common stock reserved for issuance is as follows (in thousands): As of December 31, Common stock warrant outstanding Stock options issued and outstanding—2001 Plan Stock options issued and outstanding—2011 Plan Stock options issued and outstanding—2015 Plan Employee stock purchase plan Authorized for future stock awards or option grants

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2015
Income Taxes
Income Taxes	9. Income taxes United States and foreign loss before income taxes was as follows (in thousands): Year ended December 31, United States $ $ $ Foreign Total $ $ $ The provision for income taxes was as follows (in thousands): December 31, Current: Federal $ — $ — $ — State Foreign — — — Deferred: Federal — — — State — — — Foreign — — — — — — Provision for income taxes $ $ $ The tax provision for the noncontrolling interest was $ 0 in 2015; therefore, no tax benefit or expense was allocated to the net loss attributable to noncontrolling interest. The reconciliations of the U.S. federal statutory tax rate to the combined effective tax rate are as follows: Year ended December 31, Statutory rate of tax expense % % % State income taxes, net of federal benefit % % % Permanent and other items % % % Deconsolidation of DOSE % % % Nondeductible offering costs % % % Research credits % % % Uncertain tax positions % % % Change in tax rate % % % Valuation allowance % % % Effective tax rate % % % Significant components of the Company’s net deferred tax assets at December 31, 2015 and 2014 are as follows (in thousands): December 31, Deferred tax assets: Net operating loss carryforwards $ $ Tax credits Depreciation and amortization Stock-based compensation Reserves and accruals Other net — Total deferred tax assets Valuation allowance Net deferred tax assets $ — $ — Based on the weight of available evidence, management has established a valuation allowance for all of the deferred tax assets as it is more likely than not that the deferred tax assets will not be realized. The net change in the valuation allowance was $9.4 million in 2015. At December 31, 2015, the Company had approximately $118.0 million, $98.0 million and $ 2.3 million of net operating loss carryforwards for federal, state and foreign purposes, respectively, available to offset future taxable income. The federal and state net operating loss carryforwards begin to expire in 2018 and 2016, respectively. A Japan tax loss of $0.7 million will expire in 2024 if not sooner utilized. The remaining foreign tax losses effectively do not expire. At December 31, 2015, the Company had federal and state research and development credit carryforwards of $4.6 million and $5.1 million, respectively, which begin to expire in 2021 for federal purposes and carry over indefinitely for state purposes. Utilization of the net operating loss and tax credit carryforwards will be subject to annual limitations under Sections 382 and 383 of the Internal Revenue Code of 1986 and similar state provisions due to several ownership changes that have occurred previously or that could occur in the future. These ownership changes will limit the amount of net operating loss and tax credit carryforwards and other deferred tax assets that can be utilized to offset future taxable income and tax. In general, all ownership changes as defined by Section 382 result from transactions increasing ownership of certain stockholders in the stock of the Company by more than 50 percentage points over a three ‑year period. An analysis was performed by the Company which indicated that several ownership changes have occurred in previous years which created annual limitations on the Company’s ability to utilize net operating loss and tax credit carryforwards. Such limitations will result in approximately $0.2 million of tax benefits related to net operating loss and tax credit carryforwards that will expire unused. Accordingly, the related net operating loss and tax credit carryforwards have been removed from deferred tax assets accompanied by a corresponding reduction in the valuation allowance. Due to the existence of the valuation allowance, limitations created by future ownership changes, if any, will not impact the Company’s effective tax rate. The Company considers all earnings and profits of its foreign subsidiaries to be indefinitely reinvested. Due to losses incurred, there are no unrecorded income taxes associated with unrepatriated foreign earnings as of December 31, 2015. A reconciliation of the beginning and ending amount of gross unrecognized tax benefits for 2015, 2014 and 2013, excluding interest and penalties, is as follows (in thousands): December 31, Balance at beginning of the year $ $ $ Additions (reductions) for tax positions—prior years Additions for tax positions—current year Balance at end of the year $ $ $ As of December 31, 2015, there would be no impact on the effective tax rate if the uncertain tax benefits were recognized. The Company’s policy is to recognize interest expense and penalties related to income tax matters as a component of income tax expense. There was no accrued interest and penalties associated with uncertain tax positions as of December 31, 2015 and 2014. It is not anticipated that there will be a significant change in the unrecognized tax benefits over the next 12 months. Due to the Company’s net operating loss carryforwards, its federal, state and foreign income tax returns are open to examination by the Internal Revenue Service and state jurisdictions for all years since inception.

Employee Benefits

Employee Benefits	12 Months Ended
	Dec. 31, 2015
Employee Benefits
Employee Benefits	10. Employee benefits The Company sponsors a defined contribution plan pursuant to section 401(k) of the United States Internal Revenue Code that allows participating employees to contribute up to 100% of their salary, to an annual maximum of $17,500 in 2014 and $18,000 in 2015 ( $23,000 and $24,000 in 2014 and 2015, respectively, for employees over the age of 50). The Company may contribute at its discretion. To date, the Company has only made “qualified nonelective contributions” to maintain compliance with IRS regulations. No plan contributions were made by the Company in 2015, 2014 and 2013.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2015
Commitments and Contingencies
Commitments and Contingencies	11. Commitments and contingencies The Company, from time to time, is involved in legal proceedings or regulatory encounters or other matters in the ordinary course of business that could result in unasserted or asserted claims or litigation. At December 31, 2015 and 2014, there were no matters for which the negative outcome was considered probable or estimable, and, as a result, no amounts have been accrued at either date. Operating leases The Company leases its main headquarters and manufacturing facility and facilities for its foreign subsidiaries. Certain of the Company’s leases contain renewal options, rent escalation clauses, and/or landlord incentives. Rent expense for noncancelable operating leases with scheduled rent increases and/or landlord incentives is recognized on a straight-line basis over the lease term beginning with the lease commencement date, or the date the Company takes control of the leased space, whichever is sooner. The excess of straight-line rent expense over scheduled payment amounts and landlord incentives is recorded as a deferred rent liability. The current main facility leases in Laguna Hills, California for 23,915 square feet expire on September 30, 2016. In June 2015, the Company entered into a sublease for an approximately 37,700 square foot facility located in San Clemente, California effective September 1, 2015, and a five ‑year lease for the facility that takes effect January 1, 2017 upon expiration of the sublease. This facility is intended to become the Company’s main headquarters and manufacturing facility. Rent under the direct lease begins on January 1, 2017 at approximately $42,000 per month, with rent for the second and third months abated, and the annual rent payments increase beginning on January 1, 2018 at percentages ranging from 2.5% to 3.5% . The direct lease agreement contains an option to extend the lease for up to two additional three -year periods at market rates. The direct lease landlord has agreed to provide the Company with a tenant improvement allowance on January 1, 2017 in the amount of the cost of any leasehold improvements, not to exceed approximately $264,000 . The Company’s foreign subsidiaries lease office space totaling less than 2,000 square feet. The Company recorded deferred rent of $149,000 and $57,000 as of December 31, 2015 and 2014, respectively, in conjunction with its facilities lease agreements. Rent expense was $0.6 million, $0.3 million and $0.3 million for the years ended December 31, 2015, 2014 and 2013, respectively. Future minimum payments under the aforementioned noncancelable operating leases for each of the five succeeding years are as follows (in thousands): 2016 $ 2017 2018 2019 2020 Thereafter $ Purchase commitment The Company is a party to various purchase arrangements related to components used in production and research and development activities. As of December 31, 2015, the Company had noncancelable, firm purchase commitments with certain vendors totaling approximately $2.6 million, due within one year. There are no material purchase commitments due beyond one year. Regents of the University of California On December 30, 2014, the Company executed an agreement (the UC Agreement) with the Regents of the University of California (the University) to correct inventorship in connection with a group of the Company’s U.S. patents (the Patent Rights) and to obtain from the University a covenant that it did not and would not claim any right or title to the Patent Rights and will not challenge or assist any others in challenging the Patent Rights. In connection with the Agreement, Glaukos agreed to pay to the University the sum of $2.7 million via five payments during the course of 2015, and, beginning with sales on or after January 1, 2015, to pay a low single ‑digit percentage of worldwide net sales of certain current and future products, including the Company’s iStent products, with a required minimum annual payment of $500,000 . This ongoing product payment terminates on the date that the last of the Patent Rights expires, which is currently expected to be in 2022. In 2015, the Company recorded approximately $1.8 million in cost of sales in connection with this product payment obligation. The $2.7 million obligation, net of imputed interest of $0.1 million, was accrued as of December 31, 2014 and charged to cost of sales in the year ended December 31, 2014. Under the terms of the UC Agreement, the payments comprising the $2.7 million obligation were due within 60 days of the IPO, and, accordingly, the Company paid the remaining balance due of $1.8 million prior to August 29, 2015. Transcend Medical Litigation Settlement On October 29, 2015, the Company entered into a settlement agreement with Transcend Medical, Inc. (Transcend) to resolve the patent litigation then pending between the companies before the U.S. District Court for the District of Delaware. Under the settlement agreement, the Company granted Transcend a covenant not to sue Transcend for patent infringement in connection with Transcend’s CyPass Micro-Stent devices, appliers and delivery systems. In exchange, Transcend granted the Company a covenant not to challenge the validity or enforceability of any Glaukos patent and will make quarterly payments to the Company equal to 1% of future net sales of the CyPass Micro-Stent devices until April 8, 2022 or up to a maximum aggregate payment amount of $6.0 million. In connection with the settlement agreement, the parties filed a joint stipulation of dismissal with prejudice of all of their respective claims against each other in this matter, with each party responsible for its own legal expenses. The court dismissed the matter with prejudice on October 29, 2015 and the need for the trial that was scheduled to begin November 2, 2015 was eliminated. In connection with entering into the settlement agreement, the Company agreed to pay the Regents 33% of any payments the Company receives from Transcend pursuant to the settlement agreement

Variable Interest Entity

Variable Interest Entity	12 Months Ended
	Dec. 31, 2015
Variable Interest Entity
Variable Interest Entity	12. Variable interest entity In October 2009, the Company formed a wholly ‑owned subsidiary, DOSE Medical Corporation and in April 2010, the Company distributed all of its shares of common stock of DOSE via a stock dividend to the Company’s stockholders of record as of the close of business on March 31, 2010. Since its formation, the Company had provided DOSE with a small number of leased employees, management services and space, all of which had been charged to DOSE and pursuant to written agreements between the parties. Additionally, the Company had provided DOSE the cash required to fund its operations that, together with accrued interest and charges for the aforementioned services, the Company had recorded in an intercompany receivable account. Up until the transaction on June 30, 2015 described below, the Company had accounted for DOSE as a variable interest entity in which it had a variable interest in all reporting periods since the formation of DOSE. Accordingly, the Company’s consolidated financial statements include the accounts of DOSE, with all intercompany balances eliminated and with the deficit balance of DOSE’s net assets reflected as noncontrolling interest, up to but excluding June 30, 2015. On June 30, 2015, the Company completed a transaction initially executed in July 2014, the closing of which was contingent upon the successful completion of an IPO. Pursuant to the terms of the asset purchase agreement, the Company acquired from DOSE certain assets, including the iDose product line, in exchange for payment of $15.0 million in cash and the elimination of the $10.9 million intercompany receivable owed by DOSE to the Company as of the closing date. In addition to the asset purchase agreement, the parties agreed to an amended and restated patent license agreement and an amended and restated transition services agreement that provides for limited support from the Company to DOSE for a period of up to three years. Either party can terminate the transition services agreement upon adequate written notice. Two members of the Company’s board of directors currently serve on the board of directors of DOSE. The Company has reconsidered its relationship with DOSE as a result of the transaction and has determined that the Company is no longer considered to be the primary beneficiary with the power to direct operations and the right to receive benefits/absorb losses of DOSE; therefore, upon the close of the transaction, the Company derecognized DOSE and will no longer consider it a consolidated entity in its financial statements. Accordingly, in the three months ended June 30, 2015, the Company recorded a charge to other expense in the amount of $25.7 million to reflect the deconsolidation of DOSE’ non ‑glaucoma related assets and noncontrolling interest. The carrying amount and classification of DOSE’s assets and liabilities that are included in the accompanying consolidated balance sheets are as follows (in thousands): December 31, Cash and cash equivalents $ — $ Prepaid expenses — Property and equipment, net — Total assets of DOSE $ — $ December 31, Accounts payable and accrued liabilities $ — $ Liability to Glaukos Corporation — Total liabilities of DOSE $ — $ Consolidation of DOSE’s results of operations included the following (in thousands): Year ended December 31, Selling, general & administrative $ $ $ Research and development Interest expense Net loss of DOSE $ $ $ Consolidation of DOSE’s cash flows included the following (in thousands): Year ended December 31, Cash used in operating activities $ $ $ Cash used in investing activities Cash provided by financing activities (Decrease) increase in cash and cash equivalents of DOSE $ $ $

Business Segment Information

Business Segment Information	12 Months Ended
	Dec. 31, 2015
Segment Information
Business Segment Information	13. Business segment information Operating segments are identified as components of an enterprise about which segment discrete financial information is available for evaluation by the chief operating decision maker in making decisions regarding resource allocation and assessing performance. The Company operates its business on the basis of one reportable segment—ophthalmic medical devices. Year ended December 31, Geographic net sales information (in thousands) United States $ $ $ International Total net sales $ $ $ Property and equipment, net Depreciation and amortization Capital expenditures As of December 31, Year ended December 31, Year ended December 31, United States $ $ $ $ $ $ $ $ $ International Total $ $ $ $ $ $ $ $ $

Selected Quarterly Financial In

Selected Quarterly Financial Information (Unaudited)	12 Months Ended
	Dec. 31, 2015
Selected Quarterly Financial Information (Unaudited)
Selected Quarterly Financial Information (Unaudited)	14. Selected Quarterly Financial Information (Unaudited) Three months ended March 31, June 30, September 30, December 31, (in thousands, except per share amounts) Net sales $ $ $ $ Cost of sales Gross profit Operating expenses: Selling, general and administrative Research and development Total operating expenses Loss from operations Loss on deconsolidation of DOSE — — — Total other expense, net Provision for income taxes — — — Net loss $ $ $ $ Net loss attributable to Glaukos Corporation $ $ $ $ Net loss per share attributable to Glaukos Corporation stockholders (1) : Basic $ $ $ $ Diluted $ $ $ $ Three months ended March 31, June 30, September 30, December 31, (in thousands, except per share amounts) Net sales $ $ $ $ Cost of sales (2) Gross profit Operating expenses: Selling, general and administrative (3) Research and development Total operating expenses Loss from operations Total other expense, net Provision for income taxes — Net loss $ $ $ $ Net loss attributable to Glaukos Corporation $ $ $ $ Net loss per share, basic and diluted, attributable to Glaukos Corporation stockholders (1) $ $ $ $ (1) Net loss per share is computed independently for each of the quarters presented. Therefore, the sum of the quarterly per-share amounts will not necessarily equal the annual per share amount. (2) Includes a $2.6 million charge in the three months ended December 31, 2014 associated with the Company’s December 2014 agreement with The Regents of the University of California. (3) Includes approximately $1.2 million in costs in the three months ended December 31, 2014 related to the Company’s efforts to prepare for its IPO.

Summary of Significant Accoun24

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2015
Summary of Significant Accounting Policies
Basis of Presentation	Basis of presentation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP).
Use of Estimates	Use of estimates The preparation of the financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts in the financial statements and accompanying notes. Actual results could differ materially from those estimates and assumptions. Management considers many factors in selecting appropriate financial accounting policies and controls and in developing the estimates and assumptions that are used in the preparation of these financial statements. Management must apply significant judgment in this process. In addition, other factors may affect estimates, including expected business and operational changes, sensitivity and volatility associated with the assumptions used in developing estimates, and whether historical trends are expected to be representative of future trends. The estimation process often may yield a range of potentially reasonable estimates of the ultimate future outcomes, and management must select an amount that falls within that range of reasonable estimates. The most significant estimates in the accompanying consolidated financial statements relate to revenue recognition, inventory reserves and stock ‑based compensation expense. Although these estimates are based on the Company’s knowledge of current events and actions it may undertake in the future, this process may result in actual results differing materially from those estimated amounts used in the preparation of the financial statements.
Foreign Currency Translation	Foreign currency translation The accompanying consolidated financial statements are presented in U.S. dollars. The Company considers the local currency to be the functional currency for its international subsidiaries. Accordingly, their assets and liabilities are translated into U.S. dollars using the exchange rate in effect on the balance sheet date. Revenues and expenses are translated at average exchange rates prevailing throughout the periods presented. Currency translation adjustments arising from period to period are charged or credited to accumulated other comprehensive income (loss) in stockholders’ equity (deficit). For the years ended December 31, 2015, 2014 and 2013, the Company reported income from foreign currency translation adjustments of approximately $155,000 , $42,000 and $2,000 , respectively. Realized gains and losses resulting from foreign currency transactions are included in selling, general and administrative expense in the consolidated statements of operations. For the years ended December 31, 2015, 2014 and 2013, the Company reported foreign currency transaction losses of approximately $287,000 , $38,000 and $10,000 , respectively.
Cash and Cash Equivalents	Cash, cash equivalents and short-term investments The Company invests its excess cash in marketable securities, including money market funds, money market securities, corporate bonds, and corporate commercial paper and U.S. government agency bonds. For financial reporting purposes, liquid investment instruments purchased with an original maturity of three months or less are considered to be cash equivalents. Cash and cash equivalents are recorded at face value or cost, which approximates fair market value. From time to time, the Company maintains cash balances in excess of amounts insured by the Federal Deposit Insurance Commission (FDIC). Investments are stated at fair value as determined by quoted market prices. Investments are considered available ‑for ‑sale and, accordingly, unrealized gains and losses are included in accumulated other comprehensive income within stockholders’ equity (deficit). The Company’s entire investment portfolio, except for restricted cash, is considered to be available for use in current operations and, accordingly, all such investments are stated at fair value using quoted market prices and classified as current assets, although the stated maturity of individual investments may be one year or more beyond the balance sheet date. The Company did not have any trading securities or restricted investments at December 31, 2015, 2014 and 2013. Realized gains and losses and declines in value, if any, judged to be other ‑than ‑temporary on available ‑for ‑sale securities, are reported in interest income or expense, net. When securities are sold, any associated unrealized gain or loss previously reported as a separate component of stockholders’ equity is reclassified out of stockholders’ equity and recorded in the statements of operations in the period sold. Accrued interest and dividends are included in interest income. The Company periodically reviews its available ‑for ‑sale securities for other ‑than ‑temporary declines in fair value below the cost basis, and whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable.
Concentrations of Credit Risk and Significant Customers	Concentration of credit risk and significant customers Financial instruments, which potentially subject the Company to significant concentration of credit risk, consist primarily of cash, cash equivalents, short-term investments and accounts receivable. The Company maintains deposits in federally insured financial institutions in excess of federally insured limits and management believes that the Company is not exposed to significant credit risk due to the financial position of the depository institutions in which those deposits are held. Additionally, the Company has established guidelines regarding investment instruments and their maturities which are designed to maintain preservation of principal and liquidity. The Company believes that the concentration of credit risk in its accounts receivable is mitigated by its credit evaluation process, relatively short collection terms and the level of credit worthiness of its customers. During 2015, 2014 and 2013, none of the Company’s customers accounted for more than 10% of revenues.
Restricted Cash	Restricted cash The Company has a credit card facility with its primary operating bank which is collateralized by certificates of deposit maintained at the bank.
Accounts Receivable	Accounts receivable The Company sells its products directly to hospitals, surgery centers and distributors in the U.S. and internationally. The Company periodically assesses the payment performance of these customers and establishes reserves for anticipated losses when necessary, which losses historically have not been significant and have not exceeded management’s estimates. Accounts receivable are recorded at the invoiced amount and do not bear interest. The Company maintains an allowance for doubtful accounts based on historical collection experience and expectations of future collection based on current market conditions. The allowance for doubtful accounts is management’s best estimate of the amount of probable credit losses. Account balances are charged against the allowance when it is probable the receivable will not be recovered. The Company’s allowance for bad debts was $83,000 and $50,000 as of December 31, 2015 and 2014, respectively, and no customers accounted for more than 10% of net accounts receivable as of either date. The Company generally permits returns of product from customers if such product is returned in a timely manner and in good condition. Estimated allowances for sales returns are based upon the Company’s historical patterns of product returns matched against sales, and management’s evaluation of specific factors that may increase the risk of product returns.
Inventory	Inventory Inventory is valued at the lower of cost or market (net realizable value). Cost is determined by the first ‑in, first ‑out method. Management evaluates inventory for excess quantities and obsolescence and records an allowance to reduce the carrying value of inventory as determined necessary.
Long Lived Assets	Long lived assets Property and equipment is recorded at cost. Depreciation of property and equipment is generally provided using the straight ‑line method over the estimated useful lives of the assets, which range from three to five years. Leasehold improvements are amortized over their estimated useful life or the related lease term, whichever is shorter. Maintenance and repairs are expensed as incurred. All long ‑lived assets are reviewed for impairment in value when changes in circumstances dictate, based upon undiscounted future operating cash flows, and appropriate losses are recognized and reflected in current earnings to the extent the carrying amount of an asset exceeds its estimated fair value, determined by the use of appraisals, discounted cash flow analyses or comparable fair values of similar assets.
Intantible Assets	Intangible assets Intangible assets are recorded at cost and are amortized over the estimated useful life. Intangible assets in the accompanying balance sheet is currently comprised of the cost of the Company’s buyout of a royalty payment obligation and the value of non-compete agreements entered into in 2015 with two former international distributors. See Note 6.
Fair Value Measurements	Fair value measurements Assets and liabilities are measured using quoted prices in active markets and total fair value is the published market price per unit multiplied by the number of units held without consideration of transaction costs. Assets and liabilities that are measured using significant other observable inputs are valued by reference to similar assets or liabilities, adjusted for contract restrictions and other terms specific to that asset or liability. For these items, a significant portion of fair value is derived by reference to quoted prices of similar assets or liabilities in active markets. For all remaining assets and liabilities, fair value is derived using a fair value model, such as a discounted cash flow model or Black ‑Scholes model.
Fair Value of Financial Instruments	Fair value of financial instruments The carrying amounts of cash equivalents, accounts receivable, accounts payable, and accrued liabilities are considered to be representative of their respective fair values because of the short ‑term nature of those instruments. Based on the borrowing rates currently available to the Company for loans with similar terms, the Company believes that the fair value of long ‑term debt approximates its carrying value. The carrying amount of the warrant liability and non ‑controlling interest represent their fair values. The valuation of assets and liabilities are subject to fair value measurements using a three ‑tiered approach and fair value measurements are classified and disclosed by the Company in one of the following three categories: Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; Level 2: Quoted prices for similar assets and liabilities in active markets, quoted prices in markets that are not active, or inputs which are observable, either directly or indirectly, for substantially the full term of the asset or liability; and Level 3: Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e., supported by little or no market activity).
Revenue Recognition	Revenue recognition The Company recognizes revenue from product sales when the following criteria are met: goods are shipped, title and risk of loss has transferred to its customers, persuasive evidence of an arrangement exists and collectability is reasonably assured. Persuasive evidence of an arrangement exists when there is a contractual arrangement in place with the customer. Delivery has occurred when a product is shipped. If persuasive evidence of an arrangement exists and delivery has occurred, the Company determines whether the invoiced amount is fixed or determinable and collectability of the invoiced amount is reasonably assured. The Company assesses whether the invoiced amount is fixed or determinable based on the existing arrangement with the customer, including whether the Company has sufficient history with a customer to reliably estimate the customer’s payment patterns. The Company assesses collectability by evaluating historical cash receipts and individual customer outstanding balances. To the extent all criteria set forth above are not satisfied at the time of shipment, revenue is recognized when cash is received from the customer. Customers are not granted specific rights of return; however, the Company may permit returns of product from customers if such product is returned in a timely manner and in good condition. The Company provides a warranty on its products for one year from the date of shipment, and any product found to be defective or out of specification will be replaced at no charge during the warranty period. Estimated allowances for sales returns and warranty replacements are recorded at the time of sale of the product and are estimated based upon the historical patterns of product returns matched against sales, and an evaluation of specific factors that may increase the risk of product returns. Product returns and warranty replacements to date have been consistent with amounts reserved or accrued and have not been significant.
Shipping and Handling Costs	Shipping and handling costs All shipping and handling costs are expensed as incurred and are charged to general and administrative expense. Charges to customers for shipping and handling are credited to general and administrative expense.
Advertising Costs	Advertising costs All advertising costs are expensed as incurred. Advertising costs incurred during the years ended December 31, 2015, 2014 and 2013 were approximately $0.8 million, $0.4 million and $0.5 million, respectively.
Stock Warrants	Stock warrants The Company has issued freestanding warrants to purchase shares of its convertible preferred stock which are accounted for as a liability due to the nature of the underlying redemption provisions of the preferred stock into which the warrants are exercisable. The Company has also issued freestanding warrants to purchase shares of its common stock which are accounted for as a liability because they contain a down ‑round protection provision that is outside the control of the Company. The warrants are recorded on the Company’s balance sheet at their fair value as determined on the date of issuance and are revalued at each subsequent balance sheet date, with fair value changes recognized as other income or expense in the accompanying consolidated statements of operations. The Company will continue to adjust the liability for changes in fair value until the earlier of the exercise or expiration of the warrants. The Company estimates the fair value of the liability using option pricing models and assumptions that are based on the individual characteristics of the warrants or instruments on the valuation date, including assumptions for expected volatility, expected life, yield, and risk ‑free interest rate.
Income Taxes	Income taxes The Company recognizes deferred tax assets and liabilities for temporary differences between the financial reporting basis and the tax basis of the Company’s assets and liabilities, along with net operating loss and tax credit carryovers. The Company records a valuation allowance against its deferred tax assets to reduce the net carrying value to an amount that it believes is more likely than not to be realized. Management has considered estimated taxable income and ongoing prudent and feasible tax planning strategies in assessing the amount of the valuation allowance. Based upon the weight of available evidence, which includes the Company’s historical operating performance and limited potential to utilize tax credit carryforwards, the Company has determined that total deferred tax assets should be fully offset by a valuation allowance. When the Company establishes or reduces the valuation allowance against its deferred tax assets, its provision for income taxes will increase or decrease, respectively, in the period such determination is made. The Company is required to file federal and state income tax returns in the United States and various other state jurisdictions. The preparation of these state income tax returns requires the company to interpret the applicable tax laws and regulations in effect in such jurisdictions, which could affect the amount of tax paid by us. Additionally, the Company follows an accounting standard addressing the accounting for uncertainty in income taxes that prescribes rules for recognition, measurement, and classification in the financial statements of tax positions taken or expected to be taken in a tax return.
Research and Development Expenses	Research and development expenses Major components of research and development expense include personnel costs, preclinical studies, clinical trials and related clinical product manufacturing, materials and supplies, and fees paid to consultants. Research and development costs are expensed as goods are received or services are rendered. Costs to acquire technologies to be used in research and development that have not reached technological feasibility and have no alternative future use are also expensed as incurred. At each financial reporting date, the Company accrues the estimated costs of clinical study activities performed by third party clinical sites with whom the Company has agreements that provide for fees based upon the quantities of subjects enrolled and clinical evaluation visits that occur over the life of the study. The cost estimates are determined based upon a review of the agreements and data collected by internal and external clinical personnel as to the status of enrollment and subject visits, and are based upon the facts and circumstances known to the Company at each financial reporting date. If the actual performance of activities varies from the assumptions used in the cost estimates, the accruals are adjusted accordingly. There have been no material adjustments to the Company’s prior period accrued estimates for clinical trial activities through December 31, 2015.
Stock-Based Compensation	Stock ‑based compensation The Company recognizes compensation expense for all stock ‑based awards granted to employees and nonemployees, including members of its Board of Directors. The fair value of stock ‑based awards made to employees is estimated at the grant date using the Black ‑Scholes option ‑pricing model, and the portion that is ultimately expected to vest is recognized as compensation cost over the requisite service period using the straight ‑line method. The determination of the fair value ‑based measurement of stock options on the date of grant using an option pricing model is affected by the determination of the fair value of the underlying stock as well as assumptions regarding a number of highly complex and subjective variables. These variables include, but are not limited to, the Company’s stock price volatility over the expected term of the grants, and actual and projected employee stock option exercise behaviors. In the future, as additional empirical evidence regarding these estimates becomes available, the Company may change or refine its approach of deriving them, and these changes could impact the fair value ‑based measurement of stock options granted in the future. Changes in the fair value ‑based measurement of stock awards could materially impact the Company’s operating results. The fair values of stock ‑based awards made to nonemployees are remeasured at each reporting period using the Black ‑Scholes option ‑pricing model. Compensation expense for these stock ‑based awards is determined by applying the remeasured fair values to the shares that have vested during a period.
Comprehensive Loss	Comprehensive loss All components of comprehensive loss, including net loss, are reported in the financial statements in the period in which they are recognized. Comprehensive loss is defined as the change in equity during a period from transactions and other events and circumstances from non ‑owner sources, including unrealized gains and losses on marketable securities and foreign currency translation adjustments.
Net Loss Per Share	Net loss per share Basic net loss per share is calculated by dividing the net loss by the weighted ‑ average number of common shares that were outstanding for the period, without consideration for common stock equivalents. Diluted net loss per share is calculated by dividing the net loss by the sum of the weighted ‑average number of dilutive common share equivalents outstanding for the period determined using the treasury ‑stock method. Common stock equivalents are comprised of convertible preferred stock, stock warrants, and stock options outstanding under the Company’s stock option plans. The calculation of diluted net loss per share requires that, to the extent the average fair value of the underlying shares for the reporting period exceeds the exercise price of the warrants and the presumed exercise of such securities are dilutive to net loss per share for the period, adjustments to net loss used in the calculation are required to remove the change in fair value of the warrants for the period. Likewise, adjustments to the denominator are required to reflect the related dilutive shares. For all periods presented, there is no difference in the number of shares used to calculate basic and diluted shares outstanding due to the Company’s net loss position and stock warrants being anti ‑dilutive. Potentially dilutive securities not included in the calculation of diluted net loss per share attributable to common stockholders because to do so would be anti ‑dilutive were as follows (in common stock equivalent shares, in thousands): As of December 31, Convertible preferred stock outstanding — Preferred stock warrants outstanding — Common stock warrants outstanding — — Stock options outstanding Employee stock purchase plan — —
Recent Accounting Pronouncements	As of December 31, Convertible preferred stock outstanding — Preferred stock warrants outstanding — Common stock warrants outstanding — — Stock options outstanding Employee stock purchase plan — — Recent accounting pronouncements In April 2014, the Financial Accounting Standards Board (FASB) issued an accounting standards update (ASU) that raises the threshold for disposals to qualify as discontinued operations and allows companies to have significant continuing involvement with and continuing cash flows from or to the discontinued operation. It also requires additional disclosures for discontinued operations and new disclosures for individually material disposal transactions that do not meet the definition of a discontinued operation. This guidance was effective for fiscal years beginning after December 15, 2014, which was the Company’s fiscal year 2015, with early adoption permitted. Adoption of the guidance did not have a material impact on the Company’s consolidated financial statements. In May 2014, the FASB issued guidance codified in Accounting Standard Codification (ASC) 606, Revenue Recognition—Revenue from Contracts with Customers , which amends the guidance in former ASC 605, Revenue Recognition , which provides a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and will supersede most current revenue recognition guidance. This ASU is based on the principle that revenue is recognized to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The ASU also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. In July 2015, the FASB deferred the effective date for annual reporting periods beginning after December 15, 2017 (including interim periods within those periods). Early adoption is permitted to the original effective date of December 15, 2016 (including interim periods within those periods). The Company is currently evaluating the impact of the provisions of ASC 606 on its consolidated financial statements. In June 2014, the FASB issued an ASU that requires a performance target that affects vesting of a share ‑based payment award and that could be achieved after the requisite service period to be treated as a performance condition. As such, the performance target should not be reflected in estimating the grant date fair value of the award. Compensation cost should be recognized over the required service period if it is probable that the performance target will be achieved. This guidance will be effective for fiscal years beginning after December 15, 2015, which will be the Company’s fiscal year 2016, with early adoption permitted. The Company does not expect the adoption of the guidance to have material impact on the Company’s consolidated financial statements. In August 2014, the FASB issued ASU No. 2014 ‑15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern . This ASU introduces an explicit requirement for management to assess if there is substantial doubt about an entity’s ability to continue as a going concern, and to provide related footnote disclosures in certain circumstances. In connection with each annual and interim period, management must assess if there is substantial doubt about an entity’s ability to continue as a going concern within one year after the issuance date. Disclosures are required if conditions give rise to substantial doubt. ASU 2014 ‑15 is effective for all entities in the first annual period ending after December 15, 2016. The Company is currently assessing the potential effects of this ASU on the consolidated financial statements. In February 2015, the FASB issued Accounting Standards Update (ASU) 2015 ‑02, Amendments to the Consolidation Analysis , which eliminates the deferral of FAS 167, which allows reporting entities with interests in certain investment funds to follow the consolidation guidance in FIN 46(R), and make other changes to both the variable interest model and the voting model. The ASU is effective for annual periods beginning after December 15, 2015 and interim periods therein, with early adoption permitted. During 2015, the Company early adopted the provisions of the ASU effective January 1, 2015. Based on the asset purchase transaction with DOSE on June 30, 2015 and the Company’s evaluation of the modified relationship with DOSE, management determined that after the transaction DOSE is no longer a variable interest entity (VIE) requiring consolidation (See Note 12). In July 2015, the FASB issued ASU 2015 ‑11, Inventory (Topic 330), Simplifying the Measurement of Inventory , which changes the measurement principle for inventory from the lower of cost or market to the lower of cost and net realizable value. ASU 2015 ‑11 defines net realizable value as estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. The new guidance must be applied on a prospective basis and is effective for fiscal years beginning after December 15, 2015, and interim periods within those years, with early adoption permitted. The Company does not believe the implementation of this standard will have a material impact on its consolidated financial statements. In November 2015, the FASB issued guidance on balance sheet classification of deferred taxes. Current GAAP requires an entity to separate deferred income tax liabilities and assets into current and noncurrent amounts in a classified statement of financial position. To simplify the presentation of deferred income taxes, the new guidance requires that deferred tax liabilities and assets be classified as noncurrent in a classified statement of financial position. The current requirement that deferred tax liabilities and assets of a tax-paying component of an entity be offset and presented as a single amount is not affected by this new guidance. The new guidance is effective for fiscal years beginning after December 15, 2016, and interim periods within those annual periods. Earlier application is permitted for all entities as of the beginning of an interim or annual reporting period. For the year ended December 31, 2015, the Company has elected to early adopt this update and will present all its deferred tax assets and liabilities as non-current for the period ended December 31, 2015. The Company has applied the Standard on a prospective basis. Therefore, the classifications of deferred tax assets and liabilities in periods prior to the period ended December 31, 2015 have not been changed from the original presentation. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842). The ASU requires management to recognize lease assets and lease liabilities by lessees for all operating leases. The ASU is effective for periods ending on December 15, 2018 and interim periods therein on a modified retrospective basis. The Company is currently evaluating the impact this guidance will have on its consolidated financial statements.

Summary of Significant Accoun25

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2015
Summary of Significant Accounting Policies
Schedule of potentially dilutive securities not included in the calculation of diluted net loss per share attributable to common stockholders	Potentially dilutive securities not included in the calculation of diluted net loss per share attributable to common stockholders because to do so would be anti ‑dilutive were as follows (in common stock equivalent shares, in thousands): As of December 31, Convertible preferred stock outstanding — Preferred stock warrants outstanding — Common stock warrants outstanding — — Stock options outstanding Employee stock purchase plan — —

Balance Sheet Details (Tables)

Balance Sheet Details (Tables)	12 Months Ended
	Dec. 31, 2015
Balance Sheet Details
Schedule of short-term investments	Short-term investments consisted of the following (in thousands): At December 31, 2015 Maturity Amortized cost Unrealized Unrealized Estimated (in years) or cost gains losses fair value Government agency bonds 1 - 3 $ $ $ $ Commercial paper less than 1 — Corporate notes 1 -3 — Asset-backed securities 1 -3 — Total $ $ — $ $
Schedule of accounts receivable, net	Accounts receivable consisted of the following (in thousands): December 31, Accounts receivable $ $ Less allowance for doubtful accounts Total $ $
Schedule of inventory	Inventory consisted of the following (in thousands): December 31, Finished goods $ $ Work in process Raw material $ $
Schedule of property and equipment, net	Property and equipment consisted of the following (in thousands): December 31, Equipment $ $ Furniture and fixtures Leasehold improvements Computer equipment and software Less accumulated depreciation and amortization $ $
Schedule of accrued liabilities	Accrued liabilities consisted of the following (in thousands): December 31, Accrued contract payments (see Note 11) $ $ Accrued bonuses Accrued vacation benefits Other accrued liabilities $ $

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2015
Fair Value Measurements
Schedule of the Company's financial assets and financial liabilities measured at fair value on a recurring basis	At December 31, 2015 Significant Quoted prices in other Significant active markets for observable unobservable December 31, identical assets inputs inputs (Level 1) (Level 2) (Level 3) Assets Money market funds (i) $ $ $ — $ — Government agency bonds (ii) — — Commercial paper (ii) — — Corporate notes (ii) — — Asset-backed securities (ii) — — Total assets $ $ $ $ — Liabilities Stock warrant liability $ $ — $ — $ Total liabilities $ $ — $ — $ (i) Included in cash and cash equivalents with a maturity of three months or less from date of purchase on the consolidated balance sheets. (ii) Included in cash and cash equivalents or short-term investments on the consolidated balance sheets. At December 31, 2014 Significant Quoted prices in other Significant active markets for observable unobservable December 31, identical assets inputs inputs (Level 1) (Level 2) (Level 3) Assets Cash equivalents $ — $ — $ — $ — Total assets $ — $ — $ — $ — Liabilities Stock warrant liability $ $ — $ — $ Total liabilities $ $ — $ — $
Reconciliation of liabilities measured at fair value using level 3 significant unobservable inputs (Level 3) on a recurring basis	Warrant liability Balance at December 31, 2013 $ Issuance of Series C convertible preferred stock in connection with exercises of preferred stock warrants Issuance of Series D convertible preferred stock in connection with exercises of preferred stock warrants Change in the fair value of stock warrants Balance at December 31, 2014 Issuance of common stock warrants Change in the fair value of stock warrants Issuance of Series D convertible preferred stock in connection with exercises of preferred stock warrants Issuance of common stock in connection with exercise of common stock warrant Balance at December 31, 2015 $

Long-Term Debt (Tables)

Long-Term Debt (Tables)	12 Months Ended
	Dec. 31, 2015
Long-Term Debt.
Schedule of the Company’s debt balances	The Company’s debt balances, including current portions, were as follows (in thousands): December 31, Notes payable $ $ Total debt Less current portion of long-term debt Total long-term debt $ $
Schedule reflecting the composition of intangible assets, net	The following reflects the composition of intangible assets, net (in thousands): December 31, December 31, GMP royalty buyout $ $ Non-compete agreements — Accumulated amortization Total $ $ Weighted average amortization period (in months)

Convertible Preferred Stock (Ta

Convertible Preferred Stock (Tables)	12 Months Ended
	Dec. 31, 2015
Convertible Preferred Stock
Convertible Preferred Stock
Schedule reflecting the composition of convertible preferred stock as of December 31, 2014	The following reflects the composition of convertible preferred stock as of December 31, 2014 (in thousands, except per share amounts): Series A convertible preferred stock, $0.001 par value; 3,000 shares authorized and 1,200 shares issued and outstanding at December 31, 2014; liquidation preference of $3,000 at December 31, 2014 $ Series B convertible preferred stock, $0.001 par value; 5,805 shares authorized and 2,322 shares issued and outstanding at December 31, 2014; liquidation preference of $12,538 at December 31, 2014 Series C convertible preferred stock, $0.001 par value; 14,750 shares authorized and 5,819 shares issued and outstanding at December 31, 2014 ; liquidation preference of $40,731 at December 31, 2014 Series D convertible preferred stock, $0.001 par value; 13,844 shares authorized and 5,410 shares issued and outstanding at December 31, 2014; liquidation preference of $41,387 at December 31, 2014 Series E convertible preferred stock, $0.001 par value; 8,754 shares authorized and 3,501 shares issued and outstanding at December 31, 2014; liquidation preference of $29,500 at December 31, 2014 Series F convertible preferred stock, $0.001 par value; 8,474 shares authorized and 3,390 shares issued and outstanding at December 31, 2014; liquidation preference of $30,000 at December 31, 2014 Total $

Stockholders_ equity (Tables)

Stockholders’ equity (Tables)	12 Months Ended
	Dec. 31, 2015
Stock-Based Compensation.
Schedule summarizing stock option activity under the 2001 Stock Plan, 2011 Stock Plan and 2015 Stock Plan	The following table summarizes stock option activity under the 2001 Stock Plan, 2011 Stock Plan and 2015 Stock Plan (in thousands): Number of Weighted- shares Weighted- average Aggregate underlying average remaining intrinsic options exercise price contractual value (in (in thousands) per share life (in years) thousands) Outstanding at December 31, 2012 $ Granted Exercised $ Canceled/forfeited/expired Outstanding at December 31, 2013 $ $ Granted Exercised $ Canceled/forfeited/expired Outstanding at December 31, 2014 $ $ Granted Exercised $ Canceled/forfeited/expired Outstanding at December 31, 2015 $ $ Vested and expected to vest at December 31, 2015 $ $ Exercisable at December 31, 2015 $ $
Schedule summarizing the allocation of stock-based compensation in the accompanying consolidated statements of operations	The following table summarizes the allocation of stock ‑based compensation in the accompanying consolidated statements of operations (in thousands): Year ended December 31, Cost of sales $ $ $ Selling, general & administrative Research and development Total $ $ $
Schedule of the weighted-average assumptions used to estimate the fair value of options granted to employees	Year ended December 31, Risk-free interest rate % % % Expected dividend yield % % % Expected volatility % % % Expected term (in years)
Schedule of Common stock reserved for issuance	Common stock reserved for issuance is as follows (in thousands): As of December 31, Common stock warrant outstanding Stock options issued and outstanding—2001 Plan Stock options issued and outstanding—2011 Plan Stock options issued and outstanding—2015 Plan Employee stock purchase plan Authorized for future stock awards or option grants

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2015
Income Taxes
Schedule of United States and foreign loss before income taxes	United States and foreign loss before income taxes was as follows (in thousands): Year ended December 31, United States $ $ $ Foreign Total $ $ $
Schedule of the provision for income taxes	The provision for income taxes was as follows (in thousands): December 31, Current: Federal $ — $ — $ — State Foreign — — — Deferred: Federal — — — State — — — Foreign — — — — — — Provision for income taxes $ $ $
Schedule of reconciliations of the U.S. federal statutory tax rate to the combined effective tax rate	Year ended December 31, Statutory rate of tax expense % % % State income taxes, net of federal benefit % % % Permanent and other items % % % Deconsolidation of DOSE % % % Nondeductible offering costs % % % Research credits % % % Uncertain tax positions % % % Change in tax rate % % % Valuation allowance % % % Effective tax rate % % %
Schedule of significant components of the Company's deferred tax assets	Significant components of the Company’s net deferred tax assets at December 31, 2015 and 2014 are as follows (in thousands): December 31, Deferred tax assets: Net operating loss carryforwards $ $ Tax credits Depreciation and amortization Stock-based compensation Reserves and accruals Other net — Total deferred tax assets Valuation allowance Net deferred tax assets $ — $ —
Schedule of reconciliation of the beginning and ending amount of gross unrecognized tax benefits, excluding interest and penalties	A reconciliation of the beginning and ending amount of gross unrecognized tax benefits for 2015, 2014 and 2013, excluding interest and penalties, is as follows (in thousands): December 31, Balance at beginning of the year $ $ $ Additions (reductions) for tax positions—prior years Additions for tax positions—current year Balance at end of the year $ $ $

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2015
Commitments and Contingencies
Schedule of future minimum lease payments under noncancelable operating leases	Future minimum payments under the aforementioned noncancelable operating leases for each of the five succeeding years are as follows (in thousands): 2016 $ 2017 2018 2019 2020 Thereafter $

Variable Interest Entity (Table

Variable Interest Entity (Tables)	12 Months Ended
	Dec. 31, 2015
Variable Interest Entity
Schedule of DOSE's financial information included in the accompanying financial statements:	The carrying amount and classification of DOSE’s assets and liabilities that are included in the accompanying consolidated balance sheets are as follows (in thousands): December 31, Cash and cash equivalents $ — $ Prepaid expenses — Property and equipment, net — Total assets of DOSE $ — $ December 31, Accounts payable and accrued liabilities $ — $ Liability to Glaukos Corporation — Total liabilities of DOSE $ — $ Consolidation of DOSE’s results of operations included the following (in thousands): Year ended December 31, Selling, general & administrative $ $ $ Research and development Interest expense Net loss of DOSE $ $ $ Consolidation of DOSE’s cash flows included the following (in thousands): Year ended December 31, Cash used in operating activities $ $ $ Cash used in investing activities Cash provided by financing activities (Decrease) increase in cash and cash equivalents of DOSE $ $ $

Business Segment Information (T

Business Segment Information (Tables)	12 Months Ended
	Dec. 31, 2015
Segment Information
Schedule of Geographic Net Sales Information	Year ended December 31, Geographic net sales information (in thousands) United States $ $ $ International Total net sales $ $ $
Schedule of Property and Equipment, net, Depreciation and Amortization, and Capital Expenditures by Geographic Area	Property and equipment, net Depreciation and amortization Capital expenditures As of December 31, Year ended December 31, Year ended December 31, United States $ $ $ $ $ $ $ $ $ International Total $ $ $ $ $ $ $ $ $

Selected Quarterly Financial 35

Selected Quarterly Financial Information (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2015
Selected Quarterly Financial Information (Unaudited)
Schedule of Quarterly Financial information	Three months ended March 31, June 30, September 30, December 31, (in thousands, except per share amounts) Net sales $ $ $ $ Cost of sales Gross profit Operating expenses: Selling, general and administrative Research and development Total operating expenses Loss from operations Loss on deconsolidation of DOSE — — — Total other expense, net Provision for income taxes — — — Net loss $ $ $ $ Net loss attributable to Glaukos Corporation $ $ $ $ Net loss per share attributable to Glaukos Corporation stockholders (1) : Basic $ $ $ $ Diluted $ $ $ $ Three months ended March 31, June 30, September 30, December 31, (in thousands, except per share amounts) Net sales $ $ $ $ Cost of sales (2) Gross profit Operating expenses: Selling, general and administrative (3) Research and development Total operating expenses Loss from operations Total other expense, net Provision for income taxes — Net loss $ $ $ $ Net loss attributable to Glaukos Corporation $ $ $ $ Net loss per share, basic and diluted, attributable to Glaukos Corporation stockholders (1) $ $ $ $ (1) Net loss per share is computed independently for each of the quarters presented. Therefore, the sum of the quarterly per-share amounts will not necessarily equal the annual per share amount. (2) Includes a $2.6 million charge in the three months ended December 31, 2014 associated with the Company’s December 2014 agreement with The Regents of the University of California. (3) Includes approximately $1.2 million in costs in the three months ended December 31, 2014 related to the Company’s efforts to prepare for its IPO.

Organization and Basis of Pre36

Organization and Basis of Presentation - Liquidity (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended								12 Months Ended
	Jul. 31, 2015	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Organization and Basis of Presentation
Net Income (Loss) Attributable to Parent, Total		$ (2,290)	$ (2,057)	$ (31,928)	$ (966)	$ (4,606)	$ (1,489)	$ (2,074)	$ (3,957)	$ (37,241)	$ (12,126)	$ (12,639)
Cash used in operating activities										(2,188)	(7,107)	$ (13,305)
Accumulated deficit		(196,613)				$ (159,372)				(196,613)	$ (159,372)
Cash, cash equivalents, and short-term investments		91,100								91,100
Net working capital		$ 83,800								$ 83,800
Amended Agreement
Liquidity
Repayments of debt	$ 7,000

Organization and Basis of Pre37

Organization and Basis of Presentation - IPO (Details) - USD ($) $ / shares in Units, $ in Thousands	Jun. 30, 2015	Dec. 31, 2015	Jun. 29, 2015
Organization and Basis of Presentation
Proceeds from initial public offering, net of issuance costs		$ 113,589
Common shares issued upon the conversion of convertible preferred stock (in shares)		21,736,367
Shares outstanding	0
Warrants to Purchase Shares of Series D Convertible Preferred Stock
Organization and Basis of Presentation
Warrants outstanding (in shares)	0
Convertible Preferred Stock
Organization and Basis of Presentation
Common shares issued upon the conversion of convertible preferred stock (in shares)	21,700,000
Shares outstanding	0	0	21,736,367
Common Stock
Organization and Basis of Presentation
Shares issued		6,900,000
Common shares issued upon the conversion of convertible preferred stock (in shares)		21,736,000
Common Stock | IPO
Organization and Basis of Presentation
Shares issued	6,900,000
Share price (in dollars per share)	$ 18
Proceeds from initial public offering, net of issuance costs	$ 113,600
Underwriting commissions	8,700
Stock issuance costs	$ 1,900
Omnibus Incentive Compensation Plan 2015
Organization and Basis of Presentation
Shares reserved for future issuance	4,500,000
Employee Stock Purchase Plan 2015
Organization and Basis of Presentation
Shares reserved for future issuance	450,000	450,000

Organization and Basis of Pre38

Organization and Basis of Presentation - DOSE Medical and Reverse Stock Split (Details) $ in Thousands	Jun. 30, 2015USD ($)	Jun. 11, 2015	Dec. 31, 2015USD ($)
Acquisition of certain DOSE Medical Corporation Assets
Cash payments for the acquisition of certain assets of related party			$ 15,000
Ratio for reverse stock split		0.40
DOSE Medical Corporation
Acquisition of certain DOSE Medical Corporation Assets
Cash payments for the acquisition of certain assets of related party	$ 15,000
Maximum period of support under transition services agreement	3 years

Summary of Significant Accoun39

Summary of Significant Accounting Policies - Summary (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Foreign Currency Translation
Foreign currency translation adjustments	$ 155,000	$ 42,000	$ 2,000
Foreign currency transaction gain (loss)	(287,000)	(38,000)	(10,000)
Accounts Receivable
Allowance for bad debts	83,000	50,000
Advertising Costs
Advertising Costs	$ 800,000	$ 400,000	$ 500,000
Minimum
Long Lived Assets
Estimated useful lives of assets	3 years
Maximum
Long Lived Assets
Estimated useful lives of assets	5 years

Summary of Significant Accoun40

Summary of Significant Accounting Policies - Antidilutive Securities (Details) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Anti-dilutive securities
Anti-dilutive securities excluded from computation of earnings per share	5,796	27,427	26,323
Convertible Preferred Stock
Anti-dilutive securities
Anti-dilutive securities excluded from computation of earnings per share		21,642	21,508
Preferred Stock Warrants
Anti-dilutive securities
Anti-dilutive securities excluded from computation of earnings per share		128	343
Common Stock Warrants
Anti-dilutive securities
Anti-dilutive securities excluded from computation of earnings per share	6
Stock options
Anti-dilutive securities
Anti-dilutive securities excluded from computation of earnings per share	5,701	5,657	4,472
Employee Stock Purchase Plan
Anti-dilutive securities
Anti-dilutive securities excluded from computation of earnings per share	89

Balance Sheet Details - Short-T

Balance Sheet Details - Short-Term Investments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Short-term investments
Amortized cost	$ 69,700
Gross unrealized losses	148
Fair Value	69,552	$ 0
Government agency bonds
Short-term investments
Amortized cost	5,513
Gross unrealized losses	10
Fair Value	$ 5,503
Government agency bonds | Minimum
Short-term investments
Maturity	1 year
Government agency bonds | Maximum
Short-term investments
Maturity	3 years
Commercial paper
Short-term investments
Amortized cost	$ 12,342
Gross unrealized losses	2
Fair Value	$ 12,340
Commercial paper | Maximum
Short-term investments
Maturity	1 year
Corporate notes
Short-term investments
Amortized cost	$ 45,051
Gross unrealized losses	110
Fair Value	$ 44,941
Corporate notes | Minimum
Short-term investments
Maturity	1 year
Corporate notes | Maximum
Short-term investments
Maturity	3 years
Asset-backed securities
Short-term investments
Amortized cost	$ 6,794
Gross unrealized losses	26
Fair Value	$ 6,768
Asset-backed securities | Minimum
Short-term investments
Maturity	1 year
Asset-backed securities | Maximum
Short-term investments
Maturity	3 years

Balance Sheet Details - Other (

Balance Sheet Details - Other (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Accounts Receivable, Net
Accounts receivable	$ 7,632	$ 5,448
Less allowance for doubtful accounts	(83)	(50)
Accounts receivable, net	7,549	5,398
Inventory
Finished goods	953	962
Work in process	503	194
Raw materials	2,641	1,102
Total inventory	4,097	2,258
Accrued Liabilities
Accrued contract payments (see Note 11)	504	2,604
Accrued bonuses	3,721	1,695
Accrued vacation benefits	1,007	746
Other accrued liabilities	2,561	1,417
Total accrued liabilities	7,793	6,462
Property and equipment, net
Property and equipment, gross	6,831	6,161
Less accumulated depreciation and amortization	(4,677)	(4,211)
Property and equipment, net	2,154	1,950	$ 1,866
Depreciation and amortization	4,267	4,231	1,157
Equipment
Property and equipment, net
Property and equipment, gross	4,597	4,038
Furniture and fixtures
Property and equipment, net
Property and equipment, gross	387	376
Leasehold improvements
Property and equipment, net
Property and equipment, gross	1,011	985
Computer equipment and software
Property and equipment, net
Property and equipment, gross	836	762
Property, Plant and Equipment
Property and equipment, net
Depreciation and amortization	$ 800	$ 700	$ 600

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value Hierarchy (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Assets
Total assets	$ 86,719
Liabilities
Stock warrant liability	105	$ 379
Total liabilities	105	379
Fair Value, Inputs, Level 1
Assets
Total assets	13,922
Fair Value, Inputs, Level 2
Assets
Total assets	72,797
Fair Value, Inputs, Level 3
Liabilities
Stock warrant liability	105	379
Total liabilities	105	$ 379
Money market funds
Assets
Total assets	13,922
Money market funds | Fair Value, Inputs, Level 1
Assets
Total assets	13,922
Government agency bonds
Assets
Total assets	5,523
Government agency bonds | Fair Value, Inputs, Level 2
Assets
Total assets	5,523
Commercial paper.
Assets
Total assets	15,340
Commercial paper. | Fair Value, Inputs, Level 2
Assets
Total assets	15,340
Corporate notes
Assets
Total assets	45,159
Corporate notes | Fair Value, Inputs, Level 2
Assets
Total assets	45,159
Asset-backed securities
Assets
Total assets	6,775
Asset-backed securities | Fair Value, Inputs, Level 2
Assets
Total assets	$ 6,775

Fair Value Measurements - Warra

Fair Value Measurements - Warrants and other (Details) - USD ($)	1 Months Ended		12 Months Ended
	Sep. 30, 2015	Feb. 28, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2010	Dec. 31, 2006
Fair Value Measurements, Valuation
Fair value adjustment of warrants			$ 1,132,000	$ (5,000)	$ (271,000)
Common shares issued, net settlement of warrants exercised (in shares)			44,914
Warrants to Purchase Shares of Series D Convertible Preferred Stock
Fair Value Measurements, Valuation
Shares that may be purchased under warrant (in shares)						156,860
Exercise price of warrants (in dollars per share)						$ 7.65
Warrants exercised (in shares)			127,526	29,334
Warrants exercised, settled in cash (in shares)			49,410
Warrants exercised, net settlement (in shares)			78,116
Warrants to Purchase Shares of Series D Convertible Preferred Stock | Amended Agreement
Fair Value Measurements, Valuation
Fair value adjustment of warrants			$ (900,000)	$ (5,000)	(300,000)
Common Stock Warrants | Amended Agreement
Fair Value Measurements, Valuation
Shares that may be purchased under warrant (in shares)		11,298
Exercise price of warrants (in dollars per share)		$ 8.85
Fair value adjustment of warrants			200,000
Stock warrant liabilities, fair value		$ 53,000	$ 100,000
Warrants exercised (in shares)	5,649
Common shares issued, net settlement of warrants exercised (in shares)	5,649		5,649
Fair Value Assumptions
Risk free interest rate (as a percent)		1.90%	1.90%
Dividend yield (as a percent)		0.00%	0.00%
Expected volatility rate (as a percent)		70.00%	54.80%
Expected life		7 years	6 years 2 months 12 days
Warrants To Purchase Shares Of Series C Convertible Preferred Stock Member
Fair Value Measurements, Valuation
Shares that may be purchased under warrant (in shares)							185,714
Exercise price of warrants (in dollars per share)							$ 7
Fair value adjustment of warrants			$ 0	$ 0	$ (100,000)
IPO
Fair Value Assumptions
Share price (in dollars per share)			$ 18

Fair Value Measurements - Level

Fair Value Measurements - Level 3 (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Reconciliation of liabilities measured at fair value using level 3 significant unobservable inputs (Level 3) on a recurring basis
Beginning balance	$ 379	$ 680
Issuance of common stock warrants	53
Change in the fair value of stock warrants	1,132	(5)
Ending balance	105	379
Common Stock
Reconciliation of liabilities measured at fair value using level 3 significant unobservable inputs (Level 3) on a recurring basis
Issuance of Shares in connection with the settlements	(139)
Series D convertible preferred stock
Reconciliation of liabilities measured at fair value using level 3 significant unobservable inputs (Level 3) on a recurring basis
Issuance of Shares in connection with the settlements	$ (1,320)	(110)
Series C convertible preferred stock
Reconciliation of liabilities measured at fair value using level 3 significant unobservable inputs (Level 3) on a recurring basis
Issuance of Shares in connection with the settlements		$ (186)

Convertible Notes Payable (Deta

Convertible Notes Payable (Details) - Convertible Notes Payable. $ in Millions	Oct. 31, 2012USD ($)
Convertible Notes Payable
Face amount at time of issuance	$ 10.5
Interest rate (as a percent)	7.00%

Long-term Debt - Notes Payable

Long-term Debt - Notes Payable (Details)	1 Months Ended		12 Months Ended			13 Months Ended
	Nov. 30, 2013USD ($)item	Dec. 31, 2012	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2012USD ($)	Dec. 31, 2014USD ($)
Other disclosures
Useful life/amortization period			60 months	60 months
Buy-out Agreement with GMP
Other disclosures
Buy-out option period		90 days
Maximum payment allowed under the agreement in the event of a sale of the Company meeting certain criteria	$ 2,000,000
Buy-out Agreement with GMP | GMP royalty buyout
Other disclosures
Intangible asset purchase amount	$ 17,500,000
Useful life/amortization period	5 years
Buy-out Agreement with GMP | Cost of sales
Other disclosures
Amount paid to buy-out all remaining royalties payable to GMP					$ 1,000,000
Notes Payable | GMP Note Parties | November 30, 2013 to December 31, 2014
Other disclosures
Monthly interest only payments						$ 72,900
Notes Payable | GMP Note Parties | January 31, 2015 to December 31, 2016
Other disclosures
Number of periodic payments of principal and interest | item	24
Monthly principal and interest payments	$ 767,700
Notes Payable | GMP Note Parties | Buy-out Agreement with GMP
Other disclosures
Face amount at time of issuance	$ 17,500,000
Interest rate (as a percent)	5.00%

Long-term Debt - Bank Loan Faci

Long-term Debt - Bank Loan Facility (Details) - USD ($)	1 Months Ended				12 Months Ended
	Sep. 30, 2015	Jul. 31, 2015	Feb. 28, 2015	Jun. 30, 2013	Dec. 31, 2015	Dec. 31, 2014
Long-Term Debt
Amount outstanding						$ 1,850,000
Repayments of line of credit					$ 3,600,000	$ 1,000,000
Loss on extinguishment of debt					195,000
Agreement | Line of credit
Long-Term Debt
Maximum borrowing capacity				$ 6,000,000
Line of credit, advances, threshold amount				$ 6,000,000
Line of credit, advances, threshold amount expressed as a percentage of the sum of cash, cash equivalents and eligible accounts receivable				77.00%
Interest rate at period end						3.75%
Amount outstanding			$ 2,100,000		0	$ 1,900,000
Repayments of line of credit			$ 2,100,000
Agreement | Line of credit | Prime Rate
Long-Term Debt
Basis spread				0.50%
Amended Agreement
Long-Term Debt
Amortization of debt discount and deferred asset to interest expense					$ 15,000
Repayments of debt		$ 7,000,000
Loss on extinguishment of debt		200,000
Amended Agreement | Senior Secured Term Loan and Senior Secured Draw to Term Loan [Member] | Prime Rate
Long-Term Debt
Basis spread			2.00%
Amended Agreement | Senior Secured Term Loan and Senior Secured Draw to Term Loan [Member] | Eurodollar-based Advances | LIBOR
Long-Term Debt
Basis spread			3.00%
Amended Agreement | Senior Secured Term Loan
Long-Term Debt
Face amount at time of issuance			$ 5,000,000
Proceeds from issuance of debt			5,000,000
Quarterly principal payments			$ 400,000
Period over which quarterly principal payments are to be made			3 years
Loan origination fees recorded as debt discount			$ 41,000
Debt issuance costs			100,000
Amended Agreement | Senior Secured Draw-to-term Loan
Long-Term Debt
Face amount at time of issuance			$ 5,000,000
Period over which quarterly principal payments are to be made			3 years
Quarterly principal payments expressed as a percentage			8.33%
Maximum advances available			$ 5,000,000
Gross long-term debt		$ 2,000,000
Amended Agreement | Senior Secured Revolving Credit Facility
Long-Term Debt
Line of credit, advances, threshold amount			8,000,000
Face amount at time of issuance			$ 8,000,000
Debt instrument advances, threshold amount based on borrowing base calculation percentage of accounts receivable			80.00%
Debt instrument advances, threshold amount based on borrowing base calculation percentage of inventory			30.00%
Debt instrument advances, threshold amount based on borrowing base calculation amount			$ 1,500,000
Amended Agreement | Senior Secured Revolving Credit Facility | Prime Rate
Long-Term Debt
Basis spread			1.75%
Amended Agreement | Senior Secured Revolving Credit Facility | Eurodollar-based Advances
Long-Term Debt
Basis spread			2.75%
Common Stock Warrants | Amended Agreement
Long-Term Debt
Shares that may be purchased under warrant (in shares)			11,298
Exercise price of warrants (in dollars per share)			$ 8.85
Warrants exercised (in shares)	5,649

Long-term Debts - Summary and O

Long-term Debts - Summary and Other (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Debt balances, including current portions:
Total debt	$ 9,696	$ 17,500
Less current portion of long-term debt	(8,931)	(8,532)
Total long-term debt	765	8,968
Composition of intangible assets
Total gross amount	17,743	17,500
Accumulated amortization	(7,525)	(4,025)
Total	$ 10,218	$ 13,475
Useful life/amortization period	60 months	60 months
Amortization expense	$ 3,500	$ 3,500	$ 500
Estimated amortization expense
2,016	3,700
2,017	3,600
2,018	3,000
GMP royalty buyout
Composition of intangible assets
Total gross amount	17,500	17,500
Non-compete agreements
Composition of intangible assets
Total gross amount	$ 243
Non-compete agreements | Minimum
Composition of intangible assets
Useful life/amortization period	1 year
Non-compete agreements | Maximum
Composition of intangible assets
Useful life/amortization period	2 years
Notes Payable
Debt balances, including current portions:
Total debt	$ 9,696	$ 17,500

Convertible Preferred Stock (De

Convertible Preferred Stock (Details) - USD ($) $ / shares in Units, $ in Thousands	Jun. 30, 2015	Dec. 31, 2015	Jun. 29, 2015	Dec. 31, 2014
Convertible Preferred Stock
Common shares issued upon the conversion of convertible preferred stock (in shares)		21,736,367
Adjustment to additional paid-in-capital, conversion of convertible preferred stock		$ 159,100
Convertible preferred stock				$ 157,379
Shares outstanding	0
Convertible Preferred Stock
Convertible Preferred Stock
Common shares issued upon the conversion of convertible preferred stock (in shares)	21,700,000
Shares outstanding	0	0	21,736,367
Series A convertible preferred stock
Convertible Preferred Stock
Convertible preferred stock				$ 3,000
Par value				$ 0.001
Shares authorized				3,000,000
Shares issued				1,200,000
Shares outstanding				1,200,000
Liquidation preference				$ 3,000
Series B convertible preferred stock
Convertible Preferred Stock
Convertible preferred stock				$ 12,547
Par value				$ 0.001
Shares authorized				5,805,000
Shares issued				2,322,000
Shares outstanding				2,322,000
Liquidation preference				$ 12,538
Series C convertible preferred stock
Convertible Preferred Stock
Convertible preferred stock				$ 40,836
Par value				$ 0.001
Shares authorized				14,750,000
Shares issued				5,819,000
Shares outstanding				5,819,000
Liquidation preference				$ 40,731
Series D convertible preferred stock
Convertible Preferred Stock
Convertible preferred stock				$ 41,496
Par value				$ 0.001
Shares authorized				13,844,000
Shares issued				5,410,000
Shares outstanding				5,410,000
Liquidation preference				$ 41,387
Series E convertible preferred stock
Convertible Preferred Stock
Convertible preferred stock				$ 29,500
Par value				$ 0.001
Shares authorized				8,754,000
Shares issued				3,501,000
Shares outstanding				3,501,000
Liquidation preference				$ 29,500
Series F convertible preferred stock
Convertible Preferred Stock
Convertible preferred stock				$ 30,000
Par value				$ 0.001
Shares authorized				8,474,000
Shares issued				3,390,000
Shares outstanding				3,390,000
Liquidation preference				$ 30,000

Stockholders' Equity - Converti

Stockholders' Equity - Convertible Preferred Stock (Details) $ / shares in Units, shares in Millions	1 Months Ended		6 Months Ended
	Jun. 30, 2015USD ($)	Jan. 31, 2013USD ($)$ / sharesshares	Jun. 29, 2015USD ($)$ / sharesshares	Dec. 31, 2015$ / shares	Dec. 31, 2014$ / shares	Dec. 31, 2013$ / shares
Convertible Preferred Stock
Initial conversion rate	1
Preferred stock dividend declared | $	$ 0
Gross Proceeds from public offering | $			$ 50,000,000
Minimum percentage of preferred stockholders that must provide consent for automatic conversion of the preferred stock into common shares			67.00%
Minimum number of shares outstanding that is required in order to obtain approval of a specified percentage of holders of preferred stock to among other things, alter the certificate of incorporation as related to preferred stock, change the authorized number of shares of preferred stock, acquire a business, or effect a merger, consolidation or sale of assets | shares			1.4
Minimum percentage of stockholders required for approval of the specified series of preferred stock to among other things, alter the certificate of incorporation as it relates to the specified series of preferred stock, change the authorized number of shares of the specified series of preferred stock, sell or license the Company’s assets or effect a merger or consolidation			67.00%
Percentage of voting power of the existing stockholders of the surviving corporation in a merger or consolidation, that must be less than, that would allow the existing stockholders to effect a merger or consolidation, and in which the specified stock price is met			51.00%
Series A convertible preferred stock
Convertible Preferred Stock
Amount of annual noncumulative dividends holders of preferred stock are entitled to, when and if declared by the Board of Directors, prior and in preference to shareholders of common stock.			$ 0.20
Liquidation preference (in dollars per share)			2.50
Series B convertible preferred stock
Convertible Preferred Stock
Amount of annual noncumulative dividends holders of preferred stock are entitled to, when and if declared by the Board of Directors, prior and in preference to shareholders of common stock.			0.432
Liquidation preference (in dollars per share)			5.40
Series C convertible preferred stock
Convertible Preferred Stock
Share price (in dollars per share)					$ 8
Amount of annual noncumulative dividends holders of preferred stock are entitled to, when and if declared by the Board of Directors, prior and in preference to shareholders of common stock.			0.56
Liquidation preference (in dollars per share)			7
Series D convertible preferred stock
Convertible Preferred Stock
Share price (in dollars per share)				$ 18	$ 11.38
Amount of annual noncumulative dividends holders of preferred stock are entitled to, when and if declared by the Board of Directors, prior and in preference to shareholders of common stock.			0.612
Liquidation preference (in dollars per share)			7.65
Series E convertible preferred stock
Convertible Preferred Stock
Amount of annual noncumulative dividends holders of preferred stock are entitled to, when and if declared by the Board of Directors, prior and in preference to shareholders of common stock.			0.674
Liquidation preference (in dollars per share)			$ 8.43
Additional requirement of the minimum number of shares outstanding that is required in order to obtain approval of a specified percentage of holders of the specified series of prefered stock to among other things, alter the certificate of incorporation as it relates to the specified series of preferred stock, change the authorized number of shares of the specified series of preferred stock, sell or license the Company’s assets or effect a merger or consolidation | shares			0.4
Additional requirement of the percentage of voting power of the existing stockholders of the surviving corporation in a merger or consolidation, that must be less than, that would allow the existing stockholders to effect a merger or consolidation, and in which the specified stock price is met			51.00%
Additional requirement of the stock price, which must be less than, of the convertible preferred stock that would allow the existing stockholders to effect a merger or consolidation, and in which the existing stockholders retain less than 51% of the voting power of the surviving corporation			$ 15.30
Series F convertible preferred stock
Convertible Preferred Stock
Issuance of convertible preferred stock (in shares) | shares		3.4
Proceeds from issuance of convertible preferred stock | $		$ 19,200,000
Issuance of convertible preferred stock | $		$ 30,000,000
Share price (in dollars per share)		$ 8.85				$ 8.85
Shares issued for cash | shares		2.2
Debt conversion, number of shares issued (in shares) | shares		1.2
Amount of annual noncumulative dividends holders of preferred stock are entitled to, when and if declared by the Board of Directors, prior and in preference to shareholders of common stock.			0.708
Liquidation preference (in dollars per share)			$ 8.85
Additional requirement of the minimum number of shares outstanding that is required in order to obtain approval of a specified percentage of holders of the specified series of prefered stock to among other things, alter the certificate of incorporation as it relates to the specified series of preferred stock, change the authorized number of shares of the specified series of preferred stock, sell or license the Company’s assets or effect a merger or consolidation | shares			0.2
Additional requirement of the percentage of voting power of the existing stockholders of the surviving corporation in a merger or consolidation, that must be less than, that would allow the existing stockholders to effect a merger or consolidation, and in which the specified stock price is met			51.00%
Additional requirement of the minimum percentage of stockholders required for approval of the specified series of prefered stock to among other things, alter the certificate of incorporation as it relates to the specified series of preferred stock, change the authorized number of shares of the specified series of preferred stock, sell or license the Company’s assets or effect a merger or consolidation			60.00%
Additional requirement of the stock price, which must be less than, of the convertible preferred stock that would allow the existing stockholders to effect a merger or consolidation, and in which the existing stockholders retain less than 51% of the voting power of the surviving corporation			$ 15.30
Convertible Notes Payable. | Series F convertible preferred stock
Convertible Preferred Stock
Amount of debt converted | $		$ 10,800,000

Stockholders' Equity - Preferre

Stockholders' Equity - Preferred and Common Stock (Details) - $ / shares	Jun. 30, 2015	Dec. 31, 2015	Dec. 31, 2013	Dec. 31, 2014
Preferred and Common Stock
Preferred stock, shares authorized		5,000,000		0
Preferred stock, shares issued		0		0
Common shares issued upon the conversion of convertible preferred stock (in shares)		21,736,367
Repurchase of common stock, shares held in treasury (in shares)			28,000
Common Stock
Preferred and Common Stock
Shares issued		6,900,000
Common shares issued upon the conversion of convertible preferred stock (in shares)		21,736,000
IPO | Common Stock
Preferred and Common Stock
Shares issued	6,900,000
Share price (in dollars per share)	$ 18
Convertible Preferred Stock
Preferred and Common Stock
Common shares issued upon the conversion of convertible preferred stock (in shares)	21,700,000

Stockholders' Equity - Plan Inf

Stockholders' Equity - Plan Information (Details)	12 Months Ended
	Dec. 31, 2015itemshares	Jun. 30, 2015shares
Stock-based compensation
Number of stock plans | item	4
Expiration period	10 years
Vesting percentage on first anniversary of grant date	25.00%
Remaining vesting period	3 years
2015 Stock Plan
Stock-based compensation
Shares reserved for future issuance	4,500,000
Employee Stock Purchase Plan 2015
Stock-based compensation
Shares reserved for future issuance	450,000	450,000
Maximum employee contributions as a percentage of earnings under the ESPP	15.00%
Purchase price per share expressed as a percentage of the lower of the stock's fair market value on the offering date or purchase date under the ESPP	85.00%

Stockholders' Equity - Stock Op

Stockholders' Equity - Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Unvested options
Period of time, from termination date, that unvested shares issued to an employee from early exercise of stock options can be repurchased by the Company	90 days
Unnvested options exercised (in shares)	337	55,908	0
Unvested shares subject to repurchase right (in shares)	16,682	38,678
Liability related to share-based compensation	$ 67,000	$ 153,000
2001 Stock Plan, 2011 Stock Plan and 2015 Stock Plan
Number of Shares Underlying Options
Outstanding at beginning of period (in shares)	5,657,000	4,472,000	3,823,000
Granted (in shares)	1,139,000	1,571,000	871,000
Exercised (in shares)	(1,022,000)	(348,000)	(118,000)
Canceled/forfeited/expired (in shares)	(73,000)	(38,000)	(104,000)
Outstanding at end of period (in shares)	5,701,000	5,657,000	4,472,000	3,823,000
Vested and expected to vest at end of period (in shares)	5,635,000
Exercisable at end of period (in shares)	3,782,000
Weighted Average Exercise Price
Outstanding at beginning of period (in dollars per share)	$ 3.93	$ 2.65	$ 2.28
Granted (in dollars per share)	18.07	7.13	4.30
Exercised (in dollars per share)	1.70	1.98	1.38
Canceled/forfeited/expired (in dollars per share)	6.56	4.85	3.80
Outstanding at end of period (in dollars per share)	7.10	$ 3.93	$ 2.65	$ 2.28
Vested and expected to vest at end of period (in dollars per share)	7.02
Exercisable at end of period (in dollars per share)	$ 4.03
Additional disclosures
Weighted Average Remaining Contractual Life	6 years 8 months 12 days	6 years 3 months 18 days	6 years 2 months 12 days	6 years 4 months 24 days
Exercised, Aggregate Intrinsic Value	$ 9,174	$ 1,249	$ 359
Outstanding, Aggregate Intrinsic Value	102,390	$ 16,131	$ 9,299
Vested and expected to vest, Aggregate Intrinsic Value	101,632
Exercisable, Aggregate Intrinsic Value	$ 78,133

Stockholders' Equity - Allocati

Stockholders' Equity - Allocation of Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Allocation of stock-based compensation
Stock-based compensation expense	$ 7,889	$ 1,530	$ 1,346
Cost of sales
Allocation of stock-based compensation
Stock-based compensation expense	251	38	15
Selling, general and administrative
Allocation of stock-based compensation
Stock-based compensation expense	5,773	1,118	959
Research and development
Allocation of stock-based compensation
Stock-based compensation expense	$ 1,865	$ 374	$ 372

Stockholders' Equity - Fair Val

Stockholders' Equity - Fair Value Assumptions (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended		6 Months Ended	12 Months Ended
	Jun. 30, 2015	Jul. 31, 2014	Jun. 30, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Stock-based compensation
Stock-based compensation expense				$ 7,889	$ 1,530	$ 1,346
Non Employee
Stock-based compensation
Stock-based compensation expense				$ 1,100	$ 300	$ 300
Stock-based awards to employees - weighted average assumptions used to estimate fair value of options granted
Exercisable number of shares				891,400
Minimum | Non Employee
Stock-based awards to employees - weighted average assumptions used to estimate fair value of options granted
Exercise price (in dollars per share)				$ 0.25
Maximum | Non Employee
Stock-based awards to employees - weighted average assumptions used to estimate fair value of options granted
Exercise price (in dollars per share)				25.91
Stock options
Stock-based compensation
Weighted average estimated grant date fair value (per share)				$ 9.77	$ 4.08	$ 2.53
Unamortized stock-based compensation expense not yet recognized				$ 11,700
Fair value of stock options vested				$ 5,200	$ 1,800
Options remaining vesting period				4 years
Weighted average period of recognition				3 years
Employee stock options
Stock-based compensation
Weighted-average exercise price of options granted (in dollars per share)				$ 17.79	$ 7.13	$ 4.30
Stock-based awards to employees - weighted average assumptions used to estimate fair value of options granted
Risk-free interest rate (as a percent)				1.77%	1.91%	1.25%
Expected dividend yield (as a percent)				0.00%	0.00%	0.00%
Expected volatility rate (as a percent)				56.00%	60.70%	63.10%
Expected term				6 years 26 days	6 years 26 days	6 years 26 days
Vesting based on performance | Stock options
Stock-based compensation
Options granted (in shares)		1,200,000
Stock-based compensation expense			$ 4,900		$ 4,900
Cumulative compensation costs	$ 3,800
Vesting period				4 years

Stockholders' Equity - Shares R

Stockholders' Equity - Shares Reserved for Future Issuance (Details) shares in Thousands	Dec. 31, 2015shares
Common Stock Reserved for Future Issuance
Total	9,979
Common Stock Warrants
Common Stock Reserved for Future Issuance
Conversion of warrants outstanding (in shares)	6
2001 Stock Plan
Common Stock Reserved for Future Issuance
Stock options issued and outstanding (in shares)	2,062
2011 Stock Plan
Common Stock Reserved for Future Issuance
Stock options issued and outstanding (in shares)	3,037
2015 Stock Plan
Common Stock Reserved for Future Issuance
Stock options issued and outstanding (in shares)	602
Authorized for future stock awards or option grants (in shares)	3,898
Employee Stock Purchase Plan 2015
Common Stock Reserved for Future Issuance
Authorized for future stock awards or option grants (in shares)	374

Income Taxes - Provision, Recon

Income Taxes - Provision, Reconciliation and Deferred Taxes (Details) - USD ($) $ in Thousands	3 Months Ended				12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
United States and foreign loss before income taxes:
United States					$ (36,750)	$ (13,124)	$ (14,207)
Foreign					(1,538)	(915)	(14)
Loss before taxes					(38,288)	(14,039)	(14,221)
Current:
State					33	18	6
Total current income tax provision					33	18	6
Provision for income taxes	$ 33	$ 11	$ 5	$ 2	33	$ 18	$ 6
Tax provision for noncontrolling interest					$ 0
Reconciliations of the U.S. federal statutory tax rate to the combined effective tax rate
Statutory rate of tax expense (as a percent)					34.00%	34.00%	34.00%
State income taxes, net of federal benefit (as a percent)					3.50%	3.30%	4.30%
Permanent and other items (as a percent)					(3.40%)	(1.90%)	(0.30%)
Deconsolidation of DOSE (as a percent)					(11.90%)	0.00%	0.00%
Nondeductible offering costs (as a percent)					0.00%	(2.80%)	0.00%
Research credits (as a percent)					4.60%	9.60%	9.90%
Uncertain tax positions (as a percent)					(2.30%)	(4.70%)	(12.00%)
Change in tax rate (as a percent)					(0.20%)	(0.50%)	(4.80%)
Valuation allowance (as a percent)					(24.40%)	(35.70%)	(31.10%)
Effective tax rate (as a percent)					(0.10%)	1.30%	0.00%
Components of deferred tax assets
Net operating loss carryforwards	45,870	47,045			$ 45,870	$ 47,045
Tax credits	3,973	3,306			3,973	3,306
Depreciation and amortization	19,472	13,714			19,472	13,714
Stock compensation	3,749	1,439			3,749	1,439
Reserves and accruals	2,241	528			2,241	528
Other	129				129
Total deferred tax assets	75,434	66,032			75,434	66,032
Valuation allowance	$ (75,434)	$ (66,032)			(75,434)	$ (66,032)
Net increase in valuation allowance					$ 9,400

Income Taxes - Net Operating Lo

Income Taxes - Net Operating Loss Carryforwards (Details) $ in Millions	Dec. 31, 2015USD ($)
Federal
Net operating loss carryforwards
Net operating loss carryforwards	$ 118
State
Net operating loss carryforwards
Net operating loss carryforwards	98
Foreign
Net operating loss carryforwards
Net operating loss carryforwards	2.3
Foreign | Japan
Net operating loss carryforwards
Net operating loss carryforwards	$ 0.7

Income Taxes - Tax Credit Carry

Income Taxes - Tax Credit Carryforwards (Details) - Research and development credit carryforward $ in Millions	Dec. 31, 2015USD ($)
Federal
Tax credit carryforwards
Tax credit carryforwards	$ 4.6
State
Tax credit carryforwards
Tax credit carryforwards	$ 5.1

Income Taxes - Unrecognized Tax

Income Taxes - Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Unrecognized tax benefits
Tax Benefits as a result of annul limitations under section 382	$ 200
Balance at beginning of the year	4,066	$ 3,272	$ 1,211
Additions for tax positions - prior years	(284)	(27)	1,430
Additions for tax positions - current year	1,066	821	631
Balance at end of the year	4,848	4,066	$ 3,272
Accrued interest and penalties associated with uncertain tax positions	0	$ 0
Unrepatriated foreign earnings
Unrecorded income taxes associated with unrepatriated foreign earnings	$ 0

Employee Benefits (Details)

Employee Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Employee Benefits
Maximum annual contribution per employee (as a percent)	100.00%
Maximum annual contributions per employee age 50 or less	$ 18,000	$ 17,500
Maximum annual contributions per employee over the age of 50	24,000	23,000
Employee contributions	$ 0	$ 0	$ 0

Commitments and Contingencies -

Commitments and Contingencies - Leases (Details)	Jan. 01, 2017USD ($)item	Jun. 30, 2015ft²	Dec. 31, 2015USD ($)ft²	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Operating Leases
Rent expense			$ 600,000	$ 300,000	$ 300,000
Future minimum lease payments under noncancelable operating leases
2,016			585,000
2,017			469,000
2,018			551,000
2,019			569,000
2,020			582,000
Thereafter			596,000
Total			3,352,000
Loss contingency accrual
Accrual for loss contingency			0	0
Purchase commitments
Purchase commitment due within one year			2,600,000
Facilities Leases
Operating Leases
Deferred rent			$ 149,000	$ 57,000
Lease, Laguna Hills, California
Operating Leases
Area of leased space | ft²			23,915
Sublease, San Clemente, California
Operating Leases
Area of space subleased | ft²		37,700
Lease, San Clemente, California | Forecast
Operating Leases
Lease term upon expiration of the sublease	5 years
Monthly rent	$ 42,000
Optional lease extension term	3 years
Lease, San Clemente, California | Forecast | Minimum
Operating Leases
Annual rent increase (as a percent)	2.50%
Lease, San Clemente, California | Forecast | Maximum
Operating Leases
Annual rent increase (as a percent)	3.50%
Number of lease renewal periods | item	2
Tenant improvement allowance	$ 264,000
Foreign Subsidiaries Office Leases | Maximum
Operating Leases
Area of leased space | ft²			2,000

Commitments and Contingencies64

Commitments and Contingencies - Other (Details) - Agreement with the Regents	Dec. 30, 2014USD ($)item	Aug. 28, 2015USD ($)	Jun. 30, 2015USD ($)
Other commitments
Commitment obligation	$ 2,700,000
Number of payments to be made in current fiscal year | item	5
Minimum required annual payment of the commitment obligation, based on net sales of current and future products	$ 500,000
Commitment obligation payments		$ 1,800,000	$ 1,800,000
Imputed interest	$ 100,000
Period of time for repayment of commitment obligation from date of IPO	60 days

Commitments and Contingencies65

Commitments and Contingencies - Litigation Settlment (Details) - Settled Litigation - Patent Litigation with Transcend $ in Millions	Oct. 29, 2015USD ($)
Litigation Settlement
Quarterly payments to be made to the Company, expressed as a percentage of future net sales of CyPass Micro-Stent devices, until April 8, 2022	1.00%
Maximum payment to be made to the Company per the settlement agreement	$ 6
Percentage of payments the Company receives from Transcend, to be paid to Regents, per the settlement agreement	33.00%

Variable Interest Entity (Detai

Variable Interest Entity (Details) $ in Thousands	Jun. 30, 2015USD ($)	Dec. 31, 2015USD ($)director	Sep. 30, 2015USD ($)	Jun. 30, 2015USD ($)	Mar. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Sep. 30, 2014USD ($)	Jun. 30, 2014USD ($)	Mar. 31, 2014USD ($)	Dec. 31, 2015USD ($)director	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)	Dec. 31, 2012USD ($)
Variable Interest Entity
Cash payments for the acquisition of certain assets of related party										$ 15,000
Charge to other expense relating to deconsolidation of DOSE				$ 25,685						25,685
Carrying amount and classification of DOSE's assets and liabilities:
Cash and cash equivalents		$ 21,572				$ 2,304				21,572	$ 2,304	$ 6,728	$ 1,732
Property and equipment, net		2,154				1,950				2,154	1,950	1,866
Total assets		116,661				26,021				116,661	26,021
Total liabilities		21,470				29,546				21,470	29,546
Consolidation of DOSE's results of operations:
Selling, general and administrative		12,392	$ 11,237	12,516	$ 7,816	8,936	$ 6,669	$ 6,582	$ 5,948	43,961	28,135	17,098
Research and development		6,295	6,173	7,339	5,240	5,307	5,093	4,422	4,383	25,047	19,205	15,511
Income tax provision		33				11	5		2	33	18	6
Net loss of DOSE		$ 2,290	$ 2,057	32,512	$ 1,462	5,253	$ 1,971	$ 2,494	$ 4,339	38,321	14,057	14,227
Consolidation of DOSE's cash flows:
Cash used in operating activities										(2,188)	(7,107)	(13,305)
Cash used in investing activities										(85,628)	(868)	(958)
Cash provided by financing activities										107,110	3,500	19,257
Net increase (decrease) in cash and cash equivalents										$ 19,268	(4,424)	4,996
DOSE Medical Corporation
Variable Interest Entity
Cash payments for the acquisition of certain assets of related party	$ 15,000
Intercompany receivable eliminated	$ 10,900			10,900
Maximum period of support under transition services agreement	3 years
Charge to other expense relating to deconsolidation of DOSE				$ 25,700
Number of members of the Company’s board of directors who serve on the board of directors of DOSE | director		2								2
DOSE Medical Corporation | Variable Interest Entity, Primary Beneficiary
Carrying amount and classification of DOSE's assets and liabilities:
Cash and cash equivalents						9					9
Prepaid expense						16					16
Property and equipment, net						255					255
Total assets						280					280
Accounts payable and accrued liabilities						160					160
Liability to Glaukos Corporation						9,720					9,720
Total liabilities						$ 9,880					9,880
Consolidation of DOSE's results of operations:
Selling, general and administrative										$ 105	243	208
Research and development										890	1,557	1,262
Interest expense										85	156	141
Net loss of DOSE										1,080	1,956	1,611
Consolidation of DOSE's cash flows:
Cash used in operating activities										(1,134)	(1,271)	(1,471)
Cash used in investing activities										(33)	(39)	(108)
Cash provided by financing activities										1,158	1,315	1,569
Net increase (decrease) in cash and cash equivalents										$ (9)	$ 5	$ (10)

Business Segment Information (D

Business Segment Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Business Segment Information
Total net sales	$ 71,700	$ 45,587	$ 20,946
Property and equipment, net	2,154	1,950	1,866
Depreciation and amortization	4,267	4,231	1,157
Capital expenditures	1,034	817	896
United States
Business Segment Information
Total net sales	67,698	42,932	19,507
Property and equipment, net	2,012	1,784	1,684
Depreciation and amortization	4,180	4,149	1,089
Capital expenditures	972	749	888
International
Business Segment Information
Total net sales	4,002	2,655	1,439
Property and equipment, net	142	166	182
Depreciation and amortization	87	82	68
Capital expenditures	$ 62	$ 68	$ 8

Selected Quarterly Financial 68

Selected Quarterly Financial Information (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Net sales	$ 20,276	$ 19,004	$ 17,754	$ 14,666	$ 14,113	$ 12,126	$ 11,099	$ 8,249	$ 71,700	$ 45,587	$ 20,946
Cost of sales	3,594	3,319	3,281	2,794	4,889	2,246	2,339	1,944	12,988	11,418	2,535
Gross profit	16,682	15,685	14,473	11,872	9,224	9,880	8,760	6,305	58,712	34,169	18,411
Operating expenses:
Selling, general and administrative	12,392	11,237	12,516	7,816	8,936	6,669	6,582	5,948	43,961	28,135	17,098
Research and development	6,295	6,173	7,339	5,240	5,307	5,093	4,422	4,383	25,047	19,205	15,511
Total operating expenses	18,687	17,410	19,855	13,056	14,243	11,762	11,004	10,331	69,008	47,340	32,609
Loss from operations	(2,005)	(1,725)	(5,382)	(1,184)	(5,019)	(1,882)	(2,244)	(4,026)	(10,296)	(13,171)	(14,198)
Loss on deconsolidation of DOSE			(25,685)						(25,685)
Total other expense, net	(252)	(332)	(1,445)	(278)	(223)	(84)	(250)	(311)
Provision for income taxes	33				11	5		2	33	18	6
Net loss	(2,290)	(2,057)	(32,512)	(1,462)	(5,253)	(1,971)	(2,494)	(4,339)	(38,321)	(14,057)	(14,227)
Net loss attributable to Glaukos Corporation	(2,290)	(2,057)	(31,928)	(966)	(4,606)	(1,489)	(2,074)	(3,957)	(37,241)	(12,126)	(12,639)
Net Income (Loss) Attributable to Parent	$ (2,290)	$ (2,057)	$ (31,928)	$ (966)	$ (4,606)	$ (1,489)	$ (2,074)	$ (3,957)	$ (37,241)	$ (12,126)	$ (12,639)
Basic net loss per share attributable to Glaukos Corporation common stockholders (in dollars per share)	$ (0.07)	$ (0.06)	$ (10.96)	$ (0.40)
Diluted net loss per share attributable to Glaukos Corporation common stockholders (in dollars per share)	$ (0.07)	$ (0.07)	$ (10.96)	$ (0.40)
Net loss per share, basic and diluted, attributable to Glaukos Corporation stockholders					$ (1.94)	$ (0.64)	$ (0.90)	$ (1.83)	$ (2.13)	$ (5.29)	$ (6.21)
Cost of sales | Agreement with the Regents
Operating expenses:
Product payment obligation recorded in costs of sales	$ 2,600
Selling, general and administrative
Operating expenses:
Stock issuance costs					$ 1,200

Uncategorized Items - gkos-2015

Label	Element	Value
Convertible Preferred Stock [Member]
Temporary Equity, Conversion of Stock, Value, for Common Stock	gkos_TemporaryEquityConversionOfStockValueForCommonStock	$ 159,077,000
Temporary Equity, Conversion of Stock, Shares, for Common Stock	gkos_TemporaryEquityConversionOfStockSharesForCommonStock	21,736,000
Series D Preferred Stock [Member] | Convertible Preferred Stock [Member]
Temporary Equity, Stock Issued During Period, Value, Warrants Exercised	gkos_TemporaryEquityStockIssuedDuringPeriodValueWarrantsExercised	$ 1,698,000
Temporary Equity, Stock Issued During Period, Shares, Warrants Exercised	gkos_TemporaryEquityStockIssuedDuringPeriodSharesWarrantsExercised	94,000