Glaukos (GKOS) 10-Q4 Aug 222022 Q2 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2022	Aug. 02, 2022
Document and Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2022
Document Transition Report	false
Entity File Number	001-37463
Entity Registrant Name	GLAUKOS Corp
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	33-0945406
Entity Address, Address Line One	One Glaukos Way
Entity Address, City or Town	Aliso Viejo
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92656
City Area Code	949
Local Phone Number	367-9600
Title of 12(b) Security	Common Stock
Trading Symbol	GKOS
Security Exchange Name	NYSE
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0001192448
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Entity Common Stock, Shares Outstanding		47,596,861

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 102,553	$ 100,708
Short-term investments	288,637	313,343
Accounts receivable, net	36,032	33,438
Inventory	27,842	23,011
Prepaid expenses and other current assets	16,033	15,626
Total current assets	471,097	486,126
Restricted cash	9,128	9,416
Property and equipment, net	80,921	68,969
Operating lease right-of-use assets	26,451	28,142
Finance lease right-of-use asset	47,812	49,022
Intangible assets, net	320,325	332,781
Goodwill	66,134	66,134
Deposits and other assets	9,410	9,108
Total assets	1,031,278	1,049,698
Current liabilities:
Accounts payable	21,294	7,333
Accrued liabilities	48,214	56,027
Total current liabilities	69,508	63,360
Convertible senior notes	280,713	280,026
Operating lease liability	29,361	29,650
Finance lease liability	72,464	72,699
Deferred tax liability, net	7,307	7,318
Other liabilities	9,448	9,494
Total liabilities	468,801	462,547
Commitments and contingencies (Note 12)
Stockholders' equity:
Preferred stock, $0.001 par value; 5,000 shares authorized; no shares issued and outstanding
Common stock, $0.001 par value; 150,000 shares authorized; 47,448 and 46,993 shares issued and 47,420 and 46,965 shares outstanding as of June 30, 2022 and December 31, 2021, respectively	48	47
Additional paid-in capital	971,646	952,432
Accumulated other comprehensive (loss) income	(3,715)	15
Accumulated deficit	(405,370)	(365,211)
Less treasury stock (28 shares as of June 30, 2022 and December 31, 2021)	(132)	(132)
Total stockholders' equity	562,477	587,151
Total liabilities and stockholders' equity	$ 1,031,278	$ 1,049,698

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (PARENTHETICAL) - $ / shares shares in Thousands	Jun. 30, 2022	Dec. 31, 2021
CONDENSED CONSOLIDATED BALANCE SHEETS
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	5,000	5,000
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	150,000
Common stock, shares issued	47,448	46,993
Common stock, shares outstanding	47,420	46,965
Treasury stock, shares	28	28

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
Net sales	$ 72,685	$ 78,093	$ 140,366	$ 146,061
Cost of sales	17,833	17,759	34,896	34,392
Gross profit	54,852	60,334	105,470	111,669
Operating expenses:
Selling, general and administrative	49,900	45,300	93,849	87,221
Research and development	31,712	24,256	58,589	45,475
In-process research and development	10,000	5,000	10,000	5,000
Litigation-related settlement			(30,000)
Total operating expenses	91,612	74,556	132,438	137,696
Loss from operations	(36,760)	(14,222)	(26,968)	(26,027)
Non-operating expense:
Interest income	384	342	671	725
Interest expense	(3,414)	(3,306)	(6,830)	(6,535)
Other expense, net	(5,851)	(88)	(6,811)	(1,627)
Total non-operating expense	(8,881)	(3,052)	(12,970)	(7,437)
Loss before taxes	(45,641)	(17,274)	(39,938)	(33,464)
Income tax (benefit) provision	(105)	208	221	487
Net loss	$ (45,536)	$ (17,482)	$ (40,159)	$ (33,951)
Basic net loss per share (in dollar per share)	$ (0.96)	$ (0.38)	$ (0.85)	$ (0.74)
Diluted net loss per share (in dollar per share)	$ (0.96)	$ (0.38)	$ (0.85)	$ (0.74)
Weighted average shares used to compute basic net loss per share	47,356	46,306	47,205	46,011
Weighted average shares used to compute diluted net loss per share	47,356	46,306	47,205	46,011

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
Net loss	$ (45,536)	$ (17,482)	$ (40,159)	$ (33,951)
Other comprehensive loss
Foreign currency translation gain (loss)	666	(362)	1,158	179
Unrealized loss on short-term investments	(994)	(114)	(4,888)	(531)
Other comprehensive loss	(328)	(476)	(3,730)	(352)
Total comprehensive loss	$ (45,864)	$ (17,958)	$ (43,889)	$ (34,303)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Adjustment Additional Paid-in-Capital	Adjustment Accumulated Deficit	Adjustment	Common Stock	Additional Paid-in-Capital	Accumulated Other Comprehensive Income (loss)	Accumulated Deficit	Treasury Stock	Total
Balance at Dec. 31, 2020	$ (81,553)	$ (5,560)	$ (87,113)	$ 45	$ 976,590	$ 1,004	$ (310,058)	$ (132)	$ 667,449
Balance (in shares) at Dec. 31, 2020				45,275				(28)
Stockholders' Deficit
Common stock issued under stock plans				$ 1	17,034				17,035
Common stock issued under stock plans (in shares)				741
Stock-based compensation					8,748				8,748
Other comprehensive income (loss)						124			124
Net loss							(16,469)		(16,469)
Balance at Mar. 31, 2021				$ 46	920,819	1,128	(332,087)	$ (132)	589,774
Balance (in shares) at Mar. 31, 2021				46,016				(28)
Balance at Dec. 31, 2020	$ (81,553)	$ (5,560)	$ (87,113)	$ 45	976,590	1,004	(310,058)	$ (132)	667,449
Balance (in shares) at Dec. 31, 2020				45,275				(28)
Stockholders' Deficit
Other comprehensive income (loss)									(352)
Net loss									(33,951)
Balance at Jun. 30, 2021				$ 46	933,328	652	(349,569)	$ (132)	584,325
Balance (in shares) at Jun. 30, 2021				46,497				(28)
Balance at Mar. 31, 2021				$ 46	920,819	1,128	(332,087)	$ (132)	589,774
Balance (in shares) at Mar. 31, 2021				46,016				(28)
Stockholders' Deficit
Common stock issued under stock plans					4,525				4,525
Common stock issued under stock plans (in shares)				481
Stock-based compensation					7,984				7,984
Other comprehensive income (loss)						(476)			(476)
Net loss							(17,482)		(17,482)
Balance at Jun. 30, 2021				$ 46	933,328	652	(349,569)	$ (132)	584,325
Balance (in shares) at Jun. 30, 2021				46,497				(28)
Balance at Dec. 31, 2021				$ 47	952,432	15	(365,211)	$ (132)	$ 587,151
Balance (in shares) at Dec. 31, 2021				46,993				(28)	46,965
Stockholders' Deficit
Common stock issued under stock plans					1,515				$ 1,515
Common stock issued under stock plans (in shares)				124
Stock-based compensation					6,923				6,923
Other comprehensive income (loss)						(3,402)			(3,402)
Net loss							5,377		5,377
Balance at Mar. 31, 2022				$ 47	960,870	(3,387)	(359,834)	$ (132)	597,564
Balance (in shares) at Mar. 31, 2022				47,117				(28)
Balance at Dec. 31, 2021				$ 47	952,432	15	(365,211)	$ (132)	$ 587,151
Balance (in shares) at Dec. 31, 2021				46,993				(28)	46,965
Stockholders' Deficit
Other comprehensive income (loss)									$ (3,730)
Net loss									(40,159)
Balance at Jun. 30, 2022				$ 48	971,646	(3,715)	(405,370)	$ (132)	$ 562,477
Balance (in shares) at Jun. 30, 2022				47,448				(28)	47,420
Balance at Mar. 31, 2022				$ 47	960,870	(3,387)	(359,834)	$ (132)	$ 597,564
Balance (in shares) at Mar. 31, 2022				47,117				(28)
Stockholders' Deficit
Common stock issued under stock plans				$ 1	237				238
Common stock issued under stock plans (in shares)				331
Stock-based compensation					10,539				10,539
Other comprehensive income (loss)						(328)			(328)
Net loss							(45,536)		(45,536)
Balance at Jun. 30, 2022				$ 48	$ 971,646	$ (3,715)	$ (405,370)	$ (132)	$ 562,477
Balance (in shares) at Jun. 30, 2022				47,448				(28)	47,420

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Operating Activities
Net loss	$ (40,159)	$ (33,951)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Depreciation	3,044	2,313
Amortization of intangible assets	12,456	12,456
Amortization of lease right-of-use assets	2,296	2,287
Amortization of debt issuance costs	687	687
Deferred income tax benefit	(12)	(48)
Gain on disposal of fixed assets	(35)
Stock-based compensation	17,462	16,732
Unrealized foreign currency losses	2,269	827
Amortization of premium on short-term investments	442	516
Other liabilities	(45)	1,551
Changes in operating assets and liabilities:
Accounts receivable, net	(3,296)	(1,679)
Inventory	(5,151)	(1,863)
Prepaid expenses and other current assets	(602)	(3,758)
Accounts payable and accrued liabilities	8,367	15,324
Other assets	(155)	175
Net cash (used in) provided by operating activities	(2,432)	11,569
Investing activities
Purchases of short-term investments	(36,938)	(97,233)
Proceeds from sales and maturities of short-term investments	56,748	103,692
Purchases of property and equipment	(16,005)	(28,542)
Proceeds from disposal of property and equipment	96	3
Investment in company-owned life insurance	(168)	(1,217)
Net cash provided by (used in) investing activities	3,733	(23,297)
Financing activities
Proceeds from exercise of stock options	1,921	22,824
Proceeds from share purchases under Employee Stock Purchase Plan	1,785	1,549
Payment of employee taxes related to vested restricted stock units	(1,954)	(2,812)
Principal paid on finance lease	(236)	(453)
Proceeds from tenant improvement allowance		12,668
Net cash provided by financing activities	1,516	33,776
Effect of exchange rate changes on cash and cash equivalents	(1,260)	(498)
Net increase in cash, cash equivalents and restricted cash	1,557	21,550
Cash, cash equivalents and restricted cash at beginning of period	110,124	106,162
Cash, cash equivalents and restricted cash at end of period	111,681	127,712
Supplemental disclosures of cash flow information
Taxes paid	240	220
Other interest paid	2,191	1,890
Supplemental schedule of noncash investing and financing activities
Purchases of property and equipment included in accounts payable and accrued liabilities	$ 3,310	$ 4,618

Organization and Basis of Prese

Organization and Basis of Presentation	6 Months Ended
Organization and Basis of Presentation	Jun. 30, 2022
Organization and Basis of Presentation
Organization and Basis of Presentation	Note 1. Organization and Basis of Presentation Organization and business Glaukos Corporation (Glaukos or the Company), incorporated in Delaware on July 14, 1998, is an ophthalmic medical technology and pharmaceutical company focused on developing novel therapies for the treatment of glaucoma, corneal disorders, and retinal disease. The Company developed Micro-Invasive Glaucoma Surgery (MIGS) to serve as an alternative to the traditional glaucoma treatment paradigm and launched its first MIGS device commercially in 2012. The Company also offers commercially a proprietary bio-activated pharmaceutical therapy for the treatment of a rare The accompanying condensed consolidated financial statements include the accounts of Glaukos and its wholly-owned subsidiaries. All significant intercompany balances and transactions among the consolidated entities have been eliminated in consolidation. Basis of presentation The accompanying condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted (GAAP) in the United States of America (U.S.) for interim financial information and pursuant to the instructions to Form 10-Q and Article 10 of Regulation S-X. The unaudited interim financial statements have been prepared on a basis consistent with the audited financial statements. As permitted under those rules, certain footnotes and other financial information that are normally required by GAAP have been condensed or omitted. In the opinion of management, the unaudited interim financial statements reflect all adjustments necessary for the fair presentation of the Company’s financial information contained herein. All such adjustments are of a normal and recurring nature. The condensed consolidated balance sheet as of December 31, 2021 has been derived from audited financial statements at that date, but excludes disclosures required by GAAP for complete financial statements. These interim financial statements do not include all disclosures required by GAAP and should be read in conjunction with the Company’s financial statements and accompanying notes for the fiscal year ended December 31, 2021, which are contained in the Company’s Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission (SEC) on February 28, 2022. The Company’s results of operations for the three and six months ended June 30, 2022 are not necessarily indicative of the results to be expected for the year ending December 31, 2022 or for any other interim period. Recent Developments iVeena License Agreement Effective June 9, 2022, the Company entered into an exclusive licensing agreement (iVeena License Agreement) with iVeena Delivery Systems, Inc. (iVeena) under which iVeena granted Glaukos a global exclusive license to iVeena’s proprietary technologies, including certain compositions that may be utilized in the treatment of keratoconus. Under the iVeena License Agreement, the Company has the exclusive global right to manufacture and commercialize products incorporating certain of iVeena’s owned or controlled technologies, including certain chemical compositions, for the treatment of keratoconus. Pursuant to the terms of the iVeena License Agreement, the Company made a one-time upfront payment to iVeena of $10.0 million, which is included in in-process research and development expenses within the condensed consolidated statement of operations. The Company accounted for the transaction as an asset acquisition as the set of acquired assets did not constitute a business. Settlement of Patent Litigation On September 14, 2021, the Company entered into a settlement agreement (Settlement Agreement) with Ivantis, Inc. (Ivantis), pursuant to which the Company and Ivantis agreed to terminate the patent infringement lawsuit the Company had filed against Ivantis on April 14, 2018 in the U.S. District Court for the Central District of California, Southern Division (the Lawsuit). Pursuant to the terms of the Settlement Agreement, Ivantis was required to pay the Company a cash payment of $60.0 million, $30.0 million of which was paid to the Company during the year ended December 31, 2021, and $30.0 million of which was received by the Company during the quarter ended March 31, 2022 and is included in litigation-related settlement as a reduction of operating expenses on the condensed consolidated statements of operations for the six months ended June 30, 2022. Additionally, Ivantis began making quarterly royalty payments to the Company in the amount of 10% of Ivantis’ Hydrus Microstent U.S. sales and any international sales supplied out of the U.S. beginning in the fourth quarter of 2021 through April 26, 2025, subject to a per-unit minimum payment.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
Summary of Significant Accounting Policies	Jun. 30, 2022
Summary of Significant Accounting Policies
Summary of Significant Accounting Policies	Note 2. Summary of Significant Accounting Policies There have been no significant changes in the Company’s significant accounting policies during the six months ended June 30, 2022, as compared with those disclosed in its Annual Report on Form 10-K for the year ended December 31, 2021 filed with the SEC on February 28, 2022. Use of Estimates The preparation of the condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts in the condensed consolidated 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 condensed consolidated 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 reasonable estimates of the ultimate future outcomes, and management must select an amount that falls within that range of reasonable estimates. 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 condensed consolidated financial statements. The Company’s condensed consolidated financial statements as of and for the three and six months ended June 30, 2022 reflect the Company’s estimates of the impact of the ongoing COVID-19 pandemic. The full extent to which the COVID-19 pandemic will directly or indirectly impact the Company’s business, results of operations and financial condition, including sales, expenses, reserves and allowances, manufacturing, clinical trials, research and development costs and employee-related amounts, will depend on future developments that are uncertain, including the duration and severity of the COVID-19 outbreak, the severity and transmission rates of new and more contagious and/or vaccine-resistant variants of COVID-19, and the actions taken to contain it or treat COVID-19, including the availability, distribution, rate of public acceptance and efficacy of vaccines for COVID-19, as well as the economic impact on local, regional, national and international customers and markets. As a result, there may be changes to the Company’s estimates regarding the impact of COVID-19 in future periods. Cash, Cash Equivalents and Restricted Cash The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the condensed consolidated balance sheets that equate to the amount reported in the condensed consolidated statement of cash flows as of the beginning and end of the six months ended June 30, 2022 (in thousands): June 30, December 31, 2022 2021 Cash and cash equivalents $ 102,553 $ 100,708 Restricted cash 9,128 9,416 Cash, cash equivalents and restricted cash in the condensed consolidated statements of cash flows $ 111,681 $ 110,124 Recently Adopted Accounting Pronouncements Recently Issued Accounting Pronouncements Not Yet Adopted The Company reviewed recently issued accounting pronouncements and concluded that they were either not applicable or not expected to have a significant impact to the condensed consolidated financial statements.

Balance Sheet Details

Balance Sheet Details	6 Months Ended
Balance Sheet Details	Jun. 30, 2022
Balance Sheet Details
Balance Sheet Details	Note 3. Balance Sheet Details Short-term Investments Short-term investments consisted of the following (in thousands): At June 30, 2022 Maturity Amortized cost Unrealized Unrealized Estimated (in years) or cost gains losses fair value U.S. government bonds less than 2 $ 76,778 $ — $ (1,121) $ 75,657 U.S. government agency bonds less than 3 106,592 11 (2,510) 104,093 Bank certificates of deposit less than 2 10,500 — (34) 10,466 Corporate notes less than 3 54,379 — (1,066) 53,313 Asset-backed securities less than 2 27,408 — (273) 27,135 Municipal bonds less than 3 18,446 — (473) 17,973 Total $ 294,103 $ 11 $ (5,477) $ 288,637 At December 31, 2021 Maturity Amortized cost Unrealized Unrealized Estimated (in years) or cost gains losses fair value U.S. government agency bonds less than 3 123,803 8 (540) 123,271 U.S. government bonds less than 1 $ 76,765 $ — $ (240) $ 76,525 Bank certificates of deposit less than 1 12,500 1 (9) 12,492 Commercial paper less than 1 2,998 — (1) 2,997 Corporate notes less than 3 55,178 37 (183) 55,032 Asset-backed securities less than 2 23,761 44 (31) 23,774 Municipal bonds less than 3 19,350 — (98) 19,252 Total $ 314,355 $ 90 $ (1,102) $ 313,343 As of June 30, 2022 and December 31, 2021, the total amortized cost basis of the Company’s impaired available-for-sale securities exceeded its fair value by $5.5 million and $1.0 million, respectively. Unrealized losses on these investments were primarily due to changes in interest rates. The Company does not intend to sell these investments and it is not more likely than not that the Company will be required to sell these investments before recovery of their amortized cost basis. Accordingly, no allowance for credit losses was recognized as of June 30, 2022 or December 31, 2021. Accounts Receivable, Net Accounts receivable consisted of the following (in thousands): June 30, December 31, 2022 2021 Accounts receivable $ 37,188 $ 34,805 Allowance for credit losses (1,156) (1,367) $ 36,032 $ 33,438 The Company’s allowance for credit losses represents management’s estimate of current expected credit losses and there were immaterial bad-debt write offs charged during the three and six months ended June 30, 2022. Additionally, no customers accounted for more than 10% of net accounts receivable as of June 30, 2022 or December 31, 2021. Inventory Inventory consisted of the following (in thousands): June 30, December 31, 2022 2021 Finished goods $ 12,840 $ 6,495 Work in process 4,918 7,010 Raw material 10,084 9,506 $ 27,842 $ 23,011 Accrued Liabilities Accrued liabilities consisted of the following (in thousands): June 30, December 31, 2022 2021 Accrued bonuses $ 9,481 $ 17,015 Accrued vacation benefits 4,631 4,196 Accrued Employee Stock Purchase Plan liability 3,959 2,419 Accrued payroll taxes 3,698 1,693 Other accrued liabilities 26,445 30,704 $ 48,214 $ 56,027

Fair Value Measurements

Fair Value Measurements	6 Months Ended
Fair Value Measurements	Jun. 30, 2022
Fair Value Measurements
Fair Value Measurements	Note 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 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. The valuation of assets and liabilities is 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). The following tables present information about the Company’s financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2022 and December 31, 2021 and indicate the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value (in thousands): At June 30, 2022 Quoted prices Significant in active other Significant markets for observable unobservable June 30, identical assets inputs inputs 2022 (Level 1) (Level 2) (Level 3) Assets Cash equivalents: Money market funds (i) $ 25,069 $ 25,069 $ - $ - Available for sale securities: U.S. government agency bonds (ii) $ 104,093 $ - $ 104,093 $ - U.S. government bonds (ii) 75,657 - 75,657 - Bank certificates of deposit (ii) 10,466 - 10,466 - Corporate notes (ii) 53,313 - 53,313 - Asset-backed securities (ii) 27,135 - 27,135 - Municipal bonds (ii) 17,973 - 17,973 - Investments held for deferred compensation plans 7,484 - 7,484 - Total Assets $ 321,190 $ 25,069 $ 296,121 $ - Liabilities Deferred compensation plans $ 7,462 $ - $ 7,462 $ - Total Liabilities $ 7,462 $ - $ 7,462 $ - (i) Included in cash and cash equivalents with a maturity of three months or less from date of purchase on the condensed consolidated balance sheets. (ii) Included in short-term investments on the condensed consolidated balance sheets. At December 31, 2021 Quoted prices Significant in active other Significant markets for observable unobservable December 31, identical assets inputs inputs 2021 (Level 1) (Level 2) (Level 3) Assets Cash equivalents: Money market funds (i) $ 4,212 $ 4,212 $ - $ - Available for sale securities: U.S. government agency bonds (ii) $ 123,271 $ - $ 123,271 $ - U.S. government bonds (ii) 76,525 - 76,525 - Bank certificates of deposit (ii) 12,492 - 12,492 - Commercial paper (ii) 2,997 - 2,997 - Corporate notes (ii) 55,032 - 55,032 - Asset-backed securities (ii) 23,774 - 23,774 - Municipal bonds (ii) 19,252 - 19,252 - Investments held for deferred compensation plans 7,412 7,412 - Total Assets $ 324,967 $ 4,212 $ 320,755 $ - Liabilities Deferred compensation plans $ 7,302 $ - $ 7,302 $ - Total Liabilities $ 7,302 $ - $ 7,302 $ - (i) Included in cash and cash equivalents with a maturity of three months or less from date of purchase on the condensed consolidated balance sheets. (ii) Included in short-term investments on the condensed consolidated balance sheets. 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, U.S. government bonds, bank certificates of deposit, commercial paper, municipal bonds, 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. Pursuant to the Company’s deferred compensation plan (the Deferred Compensation Plan), the Company has also established a rabbi trust that serves as an investment to shadow the Deferred Compensation Plan liability. The investments of the rabbi trust and Deferred Compensation Plan liability consist of company-owned life insurance policies (COLIs) and the pricing on these investments can be independently evaluated. 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. There were no transfers between levels within the fair value hierarchy during the periods presented. The Company did not have any assets or liabilities measured at fair value on a recurring basis within Level 3 fair value measurements as of June 30, 2022 and December 31, 2021. Convertible Senior Notes As of June 30, 2022 and December 31, 2021, the fair value of the Company’s 2.75% convertible notes due 2027 (Convertible Notes) was $345.1 million and $341.8 million, respectively. The fair value was determined on the basis of the market prices observable for similar instruments and is considered Level 2 in the fair value hierarchy. See Note 9, Convertible Senior Notes

Leases

Leases	6 Months Ended
Leases	Jun. 30, 2022
Leases
Leases	Note 5. Leases The Company has operating and finance leases for facilities and certain equipment. Leases with an initial term of 12 months or less are not recorded on the condensed consolidated balance sheet. Lease expense for operating leases is recognized on a straight-line basis over the lease term. The Company’s leases have remaining non-cancelable lease terms of approximately one year to thirteen years, some of which include options to extend the leases for up to ten years, and some of which include options to terminate the lease within one year. The exercise of lease renewal options is at the Company’s sole discretion. In certain of the Company’s lease agreements, the rental payments are adjusted periodically to reflect actual charges incurred for common area maintenance, landlord incentives and/or inflation. The Company’s office building lease in Aliso Viejo, California (Aliso Facility) is one property containing three existing office buildings, comprising approximately 160,000 rentable square feet of space, which was accounted for as a finance lease. The term of the Aliso Facility commenced on April 1, 2019 for expense recognition and continues for thirteen years. The lease agreement contains an option to extend the lease for two additional five year periods at market rates. The Company relocated its corporate administrative headquarters, along with certain laboratory, research and development and warehouse space, to the Aliso Facility in the second quarter of 2022. The Company also leases two adjacent facilities located in San Clemente, California and a facility in Burlington, Massachusetts. The total leased square footage of the San Clemente facilities equals approximately 98,000 and the leases expire on May 31, 2030. Each San Clemente facility lease contains an option to extend the lease for one additional five-year period at market rates. The total leased square footage of the Burlington facility is approximately 60,000 square feet, and the lease expires on July 31, 2033. The Burlington facility lease contains an option to extend the lease for one additional five-year period at market rates. The Company terminated its lease in Waltham, Massachusetts pursuant to a termination agreement during the first quarter of 2022. The Company’s remaining U.S.-based and foreign subsidiaries’ leased office space totals less than 14,000 square feet. The following table presents the maturity of the Company’s operating and finance lease liabilities as of June 30, 2022: Maturity of Lease Liabilities Operating Finance (in thousands) Leases (a) Leases (b) Remainder of 2022 $ 546 $ — 2023 3,417 7,495 2024 3,334 5,184 2025 3,292 5,340 2026 3,362 5,500 2027 3,467 5,665 Thereafter 33,759 101,880 Total lease payments $ 51,177 $ 131,064 Less: imputed interest 21,893 58,600 Total lease liabilities $ 29,284 $ 72,464 (a) Operating lease payments include $ 20.6 million related to options to extend lease terms that are reasonably certain of being exercised. (b) Finance lease payments include $75.8 million related to options to extend lease terms that are reasonably certain of being exercised.

Intangible Assets and Goodwill

Intangible Assets and Goodwill	6 Months Ended
Intangible Assets and Goodwill	Jun. 30, 2022
Intangible Assets and Goodwill
Intangible Assets and Goodwill	Note 6. Intangible Assets and Goodwill Intangible assets For the three months ended June 30, 2022 and June 30, 2021, amortization expense related to finite-lived intangible assets was approximately $5.5 million and $0.7 million, respectively, recorded in cost of sales and selling, general and administrative expenses, in the condensed consolidated statement of operations. For the six months ended June 30, 2022 and June 30, 2021, amortization expense related to the above finite-lived intangible assets was approximately $11.0 million and $1.4 million, respectively, recorded in cost of sales and selling, general and administrative expenses, in the condensed consolidated statements of operations. The Company evaluated its indefinite-lived intangible assets for impairment, including any considerations specific to the COVID-19 pandemic utilizing the methodology pursuant to the adoption of ASU 2017-04, Intangibles – Goodwill and Other (Topic 350) Goodwill The assessment of goodwill by reporting unit is performed annually, in the fourth quarter, or more frequently if events or circumstances indicate the carrying value may no longer be recoverable and that an impairment loss may have occurred. The Company considered the current and expected future economic and market conditions surrounding the COVID-19 pandemic and its impact on the Company’s reporting unit. The following table presents the composition of the Company’s intangible assets and goodwill (in thousands): Estimated As of June 30, 2022 As of December 31, 2021 Useful Gross Gross Life Carrying Accumulated Net Carrying Accumulated Net (in years) Amount Amortization Amount Amount Amortization Amount Developed technology 11.4 $ 252,200 (57,532) 194,668 252,200 (46,485) 205,715 Customer relationships 5.0 14,100 (7,343) 6,757 14,100 (5,934) 8,166 Intangible assets subject to amortization 266,300 (64,875) 201,425 266,300 (52,419) 213,881 In-process research and development Indefinite $ 118,900 — 118,900 118,900 — 118,900 Goodwill Indefinite $ 66,134 — 66,134 66,134 — 66,134 Total $ 451,334 $ (64,875) $ 386,459 $ 451,334 $ (52,419) $ 398,915 As of June 30, 2022, expected amortization expense for unamortized finite-lived intangible assets for the next five years and thereafter is as follows (in thousands): Amortization Expense Remainder of 2022 $ 12,456 2023 24,912 2024 24,619 2025 22,092 2026 22,092 Thereafter 95,254 Total amortization $ 201,425 Actual amortization expense to be reported in future periods could differ from these estimates as a result of asset impairments, acquisitions, or other facts and circumstances.

Revenue from Contracts with Cus

Revenue from Contracts with Customers	6 Months Ended
Revenue from Contracts with Customers	Jun. 30, 2022
Revenue from Contracts with Customers
Revenue from Contracts with Customers	Note 7. Revenue from Contracts with Customers The Company’s net sales are generated primarily from sales of iStent Photrexa Revenue is recognized at an amount that reflects the consideration the Company expects to be entitled to in exchange for goods or services, and substantially all of the Company’s net sales for the three and six months ended June 30, 2022 are considered revenue from contracts with customers. Disaggregation of Revenue The Company’s revenues disaggregated by product category and geography for the three and six months ended June 30, 2022 and June 30, 2021 were as follows (in thousands): Three Months Ended June 30, United States International Total 2022 2021 2022 2021 2022 2021 Glaucoma $ 38,199 $ 46,313 $ 17,867 $ 16,411 $ 56,066 $ 62,724 Corneal Health 14,034 13,218 2,585 2,151 16,619 15,369 Total $ 52,233 $ 59,531 $ 20,452 $ 18,562 $ 72,685 $ 78,093 Six Months Ended June 30, United States International Total 2022 2021 2022 2021 2022 2021 Glaucoma $ 72,098 $ 86,202 $ 35,515 $ 30,221 $ 107,613 $ 116,423 Corneal Health 27,651 25,273 5,102 4,365 32,753 29,638 Total $ 99,749 $ 111,475 $ 40,617 $ 34,586 $ 140,366 $ 146,061 Contract Balances Contract Assets Amounts are recorded as accounts receivable when the Company’s right to consideration becomes unconditional. Payment terms on invoiced amounts are typically 30 days for glaucoma and corneal health products, though extended payment terms on corneal health products may be offered. However, the Company does not consider any significant financing components in customer contracts given the expected time between transfer of the promised products and the payment of the associated consideration is less than one year. As of June 30, 2022 and December 31, 2021, all amounts included in accounts receivable, net on the condensed consolidated balance sheets are related to contracts with customers. Aside from the aforementioned contract assets, the Company does not have any contract assets given that the Company does not have any unbilled receivables and sales commissions on other products are expensed within selling, general and administrative expenses within the condensed consolidated statement of operations when incurred as any incremental cost of obtaining contracts with customers would have an amortization period of less than one year. Contract Liabilities Contract liabilities reflect consideration received from customers’ purchases allocated to the Company’s future performance obligations. The Company has a performance obligation to issue a rebate to customers who may be eligible for a rebate at the conclusion of their contract term. This performance obligation is transferred over time and the Company’s method of measuring progress is the output method, whereby the progress is measured by the estimated rebate earned to date over the total rebate estimated to be earned over the contract period. The Company’s rebate allowance is included in accrued liabilities in the condensed consolidated balance sheets and estimated rebates accrued were not material during the periods presented. During the three and six months ended June 30, 2022 and June 30, 2021, the Company did not recognize any revenue related to material changes in transaction prices regarding its contracts with customers and did not recognize any material changes in revenue related to amounts included in contract liabilities at the beginning of the period. The Company’s net sales within a fiscal year may be impacted seasonally, as

Net Loss per Share

Net Loss per Share	6 Months Ended
Net Loss per Share	Jun. 30, 2022
Net Loss per Share
Net Loss per Share	Note 8. 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. For periods when the Company realizes a net loss, no common stock equivalents are included in the calculation of weighted average number of dilutive common stock equivalents as the effect of applying the treasury stock method is considered anti-dilutive. For periods when the Company realizes net income, diluted net income per share is calculated by dividing the net income by the weighted average number of common shares plus the sum of the weighted average number of dilutive common stock equivalents outstanding for the period determined using the treasury stock method. Common stock equivalents are comprised of stock options outstanding and unvested restricted stock units (RSUs) under the Company’s incentive compensation plans, and shares issuable under the Company’s Employee Stock Purchase Plan (ESPP). Potentially dilutive securities not included in the calculation of diluted net loss per share because to do so would be anti-dilutive were as follows (in common stock equivalent shares, in thousands): Three Months Ended Six Months Ended June 30, June 30, 2022 2021 2022 2021 Convertible senior notes 5,125 5,125 5,125 5,125 Stock options outstanding 2,483 3,391 2,371 3,545 Unvested restricted stock units 1,186 672 1,026 607 Employee stock purchase plan 18 15 23 16 8,812 9,203 8,545 9,293

Convertible Senior Notes

Convertible Senior Notes	6 Months Ended
Convertible Senior Notes	Jun. 30, 2022
Convertible Senior Notes
Convertible Senior Notes	Note 9. Convertible Senior Notes In June 2020, the Company issued $287.5 million in aggregate principal amount of Convertible Notes pursuant to an indenture dated June 11, 2020, between the Company and Wells Fargo Bank, National Association, as trustee (the Indenture), in a private offering to qualified institutional buyers in accordance with Rule 144A under the Securities Act of 1933, as amended. The Convertible Notes are senior unsecured obligations of the Company and bear interest at a rate of 2.75% per year, payable semi-annually in arrears on June 15 and December 15 of each year, beginning on December 15, 2020. The Convertible Notes will mature on June 15, 2027, unless earlier converted, redeemed or repurchased in accordance with their terms. In connection with issuing the Convertible Notes, the Company received $242.2 million in proceeds, after deducting fees and offering expenses and paying the cost of the capped call transactions described below. The Convertible Notes may be converted at the option of the holders at any time prior to the close of business on the business day immediately preceding March 15, 2027, only under the following circumstances: (1) during any calendar quarter commencing after the calendar quarter ended on September 30, 2020 (and only during such calendar quarter), if the last reported sale price of the Company’s common stock for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price on each applicable trading day; (2) during the five business day period immediately after any ten consecutive trading day period (the Measurement Period) in which the trading price (as defined in the Indenture) per $1,000 principal amount of the Convertible Notes for each trading day of the Measurement Period was less than 98% of the product of (i) the last reported sale price of the Company’s common stock and (ii) the conversion rate in effect on each such trading day; (3) with respect to any Convertible Notes the Company calls for redemption, at any time prior to the close of business on the business day immediately preceding the redemption date, even if the Convertible Notes are not otherwise convertible at such time; or (4) upon the occurrence of specified corporate events. On or after March 15, 2027 until the close of business on the second scheduled trading day immediately preceding the maturity date, holders may convert all or any portion of their Convertible Notes, in multiples of $1,000 principal amount, at the option of the holder regardless of the foregoing circumstances. Upon conversion, the Company will pay or deliver, as the case may be, cash, shares of the Company’s common stock or a combination of cash and shares of the Company’s common stock, at the Company’s election, in the manner and subject to the terms and conditions provided in the Indenture. As of June 30, 2022, none of the conditions allowing holders of the Convertible Notes to convert had been met. Interest expense relating to the Convertible Notes in the condensed consolidated statements of operations for the three and six months ended June 30, 2022 is summarized as follows (in thousands): Three months ended Six Months Ended June 30, June 30, 2022 2022 Contractual interest expense $ 1,977 $ 3,953 Amortization of debt issuance costs 343 687 Total interest expense $ 2,320 $ 4,640 Three months ended Six Months Ended June 30, June 30, 2021 2021 Contractual interest expense $ 1,977 $ 3,953 Amortization of debt issuance costs 343 687 Total interest expense $ 2,320 $ 4,640 The effective interest rate on the Convertible Notes for the three and six months ended June 30, 2022 was 3.2% . As of June 30, 2022 and December 31, 2021, the Convertible Notes on the condensed consolidated balance sheets represented the carrying amount of the Convertible Notes, net of unamortized debt issuance costs, which are summarized as follows (in thousands): As of As of June 30, December 31, 2022 2021 Convertible Notes $ 287,500 $ 287,500 Less: Unamortized debt issuance costs (6,787) (7,474) Carrying amount of Convertible Notes $ 280,713 $ 280,026

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
Stock-Based Compensation	Jun. 30, 2022
Stock-Based Compensation.
Stock-Based Compensation	Note 10. Stock-Based Compensation The following table summarizes the allocation of stock-based compensation related to stock options and RSUs in the accompanying condensed consolidated statements of operations (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2022 2021 2022 2021 Cost of sales $ 520 $ 452 $ 927 $ 872 Selling, general and administrative 7,570 5,898 12,256 12,392 Research and development 2,449 1,634 4,279 3,468 Total $ 10,539 $ 7,984 $ 17,462 $ 16,732 At June 30, 2022, the total unamortized stock-based compensation expense was approximately $75.9 million, of which $9.4 million was attributable to stock options and is to be recognized over the stock options’ remaining vesting terms of approximately 4.0 years (2.3 years on a weighted average basis). The remaining $66.5 million was attributable to RSUs and is to be recognized over the RSUs’ vesting terms of approximately 4.0 years (3.0 years on a weighted-average basis). The total stock-based compensation cost capitalized in inventory was not material for the three and six month periods ended June 30, 2022 and June 30, 2021.

Income Taxes

Income Taxes	6 Months Ended
Income Taxes	Jun. 30, 2022
Income Taxes
Income Taxes	Note 11. Income Taxes The provision for income taxes is determined using an effective tax rate. For the three and six months ended June 30, 2022, the Company’s estimated effective tax rate of 0.23% and (0.55)%, respectively, was lower than the U.S. federal statutory rate primarily due to the generation of U.S. NOL carryforwards partially offset by a valuation allowance, the recognition of benefit for the utilization of R&D tax credits, as well as state and foreign income taxes. The effective tax rate may be subject to fluctuations during the year as new information is obtained that may affect the assumptions used to estimate the effective tax rate, including factors such as expected utilization of NOL carryforwards, changes in or the interpretation of tax laws in jurisdictions where the Company conducts business, the Company’s expansion into new states or foreign countries, and the amount of valuation allowances against deferred tax assets. For the three and six months ended June 30, 2022, the Company recorded a (benefit)/provision for income taxes of $(0.1) million and $0.2 million, respectively, which was primarily comprised of current state and foreign income tax expense and deferred federal and state income tax benefits. For the three and six months ended June 30, 2021, the Company recorded a provision for income taxes of $0.2 million and $0.5 million, respectively, which was primarily comprised of state and foreign income taxes. 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. As of June 30, 2022 and December 31, 2021, the Company had gross unrecognized tax benefits of $26.9 million and $25.8 million, respectively.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Jun. 30, 2022
Commitments and Contingencies
Commitments and Contingencies	Note 12. Commitments and Contingencies Secured Letters of Credit The Company has a letter of credit in the amount of $8.8 million that is related to its Aliso Facility. The letter of credit is secured with an amount of cash held in a restricted account of approximately $8.8 million as of June 30, 2022 and December 31, 2021. Beginning as of the first day of the thirty-seventh month of the lease term, and on each twelve month anniversary thereafter, the letter of credit may be reduced by 20% until the letter of credit amount has been reduced to $2.0 million. The Company has one other irrevocable standby letters of credit secured with approximately $0.3 million of cash in a restricted account related to its office lease agreements. 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 UC Agreement, Glaukos agreed to pay to the University a low single-digit percentage of worldwide net sales of certain current and future products, including the Company’s iStent Executive Deferred Compensation Plan Pursuant to the Company’s Deferred Compensation Plan, eligible senior level employees are permitted to make elective deferrals of compensation to which he or she will become entitled in the future. The Company has also established a rabbi trust that serves as an investment to shadow the Deferred Compensation Plan liability. The investments of the rabbi trust consist of COLIs. The fair value of the Deferred Compensation Plan liability, included in other liabilities on the condensed consolidated balance sheets, was approximately $7.5 million and $7.3 million as of June 30, 2022 and December 31, 2021, respectively, and the cash surrender value of the COLIs, included in deposits and other assets on the condensed consolidated balance sheets, which reflects the underlying assets at fair value, was approximately $7.6 million and $7.4 million as of June 30, 2022 and December 31, 2021, respectively.

Business Segment Information

Business Segment Information	6 Months Ended
Business Segment Information	Jun. 30, 2022
Business Segment Information
Business Segment Information	Note 13. Business Segment Information The Company has one business activity: the development and commercialization of therapies designed to treat glaucoma, corneal disorders and retinal diseases, and operates as one operating segment. The Company determined its operating segment on the same basis that it uses to evaluate its performance internally. The Company’s revenues disaggregated by revenue and product category are included in Note 7, Revenue from Contracts with Customers

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
Summary of Significant Accounting Policies (Policies)	Jun. 30, 2022
Summary of Significant Accounting Policies
Basis of Presentation	Basis of presentation The accompanying condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted (GAAP) in the United States of America (U.S.) for interim financial information and pursuant to the instructions to Form 10-Q and Article 10 of Regulation S-X. The unaudited interim financial statements have been prepared on a basis consistent with the audited financial statements. As permitted under those rules, certain footnotes and other financial information that are normally required by GAAP have been condensed or omitted. In the opinion of management, the unaudited interim financial statements reflect all adjustments necessary for the fair presentation of the Company’s financial information contained herein. All such adjustments are of a normal and recurring nature. The condensed consolidated balance sheet as of December 31, 2021 has been derived from audited financial statements at that date, but excludes disclosures required by GAAP for complete financial statements. These interim financial statements do not include all disclosures required by GAAP and should be read in conjunction with the Company’s financial statements and accompanying notes for the fiscal year ended December 31, 2021, which are contained in the Company’s Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission (SEC) on February 28, 2022. The Company’s results of operations for the three and six months ended June 30, 2022 are not necessarily indicative of the results to be expected for the year ending December 31, 2022 or for any other interim period.
Use of Estimates	Use of Estimates The preparation of the condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts in the condensed consolidated 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 condensed consolidated 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 reasonable estimates of the ultimate future outcomes, and management must select an amount that falls within that range of reasonable estimates. 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 condensed consolidated financial statements. The Company’s condensed consolidated financial statements as of and for the three and six months ended June 30, 2022 reflect the Company’s estimates of the impact of the ongoing COVID-19 pandemic. The full extent to which the COVID-19 pandemic will directly or indirectly impact the Company’s business, results of operations and financial condition, including sales, expenses, reserves and allowances, manufacturing, clinical trials, research and development costs and employee-related amounts, will depend on future developments that are uncertain, including the duration and severity of the COVID-19 outbreak, the severity and transmission rates of new and more contagious and/or vaccine-resistant variants of COVID-19, and the actions taken to contain it or treat COVID-19, including the availability, distribution, rate of public acceptance and efficacy of vaccines for COVID-19, as well as the economic impact on local, regional, national and international customers and markets. As a result, there may be changes to the Company’s estimates regarding the impact of COVID-19 in future periods.
Cash, Cash Equivalents and Restricted Cash	Cash, Cash Equivalents and Restricted Cash The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the condensed consolidated balance sheets that equate to the amount reported in the condensed consolidated statement of cash flows as of the beginning and end of the six months ended June 30, 2022 (in thousands): June 30, December 31, 2022 2021 Cash and cash equivalents $ 102,553 $ 100,708 Restricted cash 9,128 9,416 Cash, cash equivalents and restricted cash in the condensed consolidated statements of cash flows $ 111,681 $ 110,124
Recently Adopted and Issued Accounting Pronouncements	Recently Adopted Accounting Pronouncements Recently Issued Accounting Pronouncements Not Yet Adopted The Company reviewed recently issued accounting pronouncements and concluded that they were either not applicable or not expected to have a significant impact to the condensed consolidated financial statements.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	6 Months Ended
Summary of Significant Accounting Policies (Tables)	Jun. 30, 2022
Summary of Significant Accounting Policies
Schedule of cash and cash equivalents and restricted cash	The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the condensed consolidated balance sheets that equate to the amount reported in the condensed consolidated statement of cash flows as of the beginning and end of the six months ended June 30, 2022 (in thousands): June 30, December 31, 2022 2021 Cash and cash equivalents $ 102,553 $ 100,708 Restricted cash 9,128 9,416 Cash, cash equivalents and restricted cash in the condensed consolidated statements of cash flows $ 111,681 $ 110,124

Balance Sheet Details (Tables)

Balance Sheet Details (Tables)	6 Months Ended
Balance Sheet Details (Tables)	Jun. 30, 2022
Balance Sheet Details
Schedule of short-term investments	Short-term investments consisted of the following (in thousands): At June 30, 2022 Maturity Amortized cost Unrealized Unrealized Estimated (in years) or cost gains losses fair value U.S. government bonds less than 2 $ 76,778 $ — $ (1,121) $ 75,657 U.S. government agency bonds less than 3 106,592 11 (2,510) 104,093 Bank certificates of deposit less than 2 10,500 — (34) 10,466 Corporate notes less than 3 54,379 — (1,066) 53,313 Asset-backed securities less than 2 27,408 — (273) 27,135 Municipal bonds less than 3 18,446 — (473) 17,973 Total $ 294,103 $ 11 $ (5,477) $ 288,637 At December 31, 2021 Maturity Amortized cost Unrealized Unrealized Estimated (in years) or cost gains losses fair value U.S. government agency bonds less than 3 123,803 8 (540) 123,271 U.S. government bonds less than 1 $ 76,765 $ — $ (240) $ 76,525 Bank certificates of deposit less than 1 12,500 1 (9) 12,492 Commercial paper less than 1 2,998 — (1) 2,997 Corporate notes less than 3 55,178 37 (183) 55,032 Asset-backed securities less than 2 23,761 44 (31) 23,774 Municipal bonds less than 3 19,350 — (98) 19,252 Total $ 314,355 $ 90 $ (1,102) $ 313,343
Schedule of accounts receivable, net	Accounts receivable consisted of the following (in thousands): June 30, December 31, 2022 2021 Accounts receivable $ 37,188 $ 34,805 Allowance for credit losses (1,156) (1,367) $ 36,032 $ 33,438
Schedule of inventory	Inventory consisted of the following (in thousands): June 30, December 31, 2022 2021 Finished goods $ 12,840 $ 6,495 Work in process 4,918 7,010 Raw material 10,084 9,506 $ 27,842 $ 23,011
Schedule of accrued liabilities	Accrued liabilities consisted of the following (in thousands): June 30, December 31, 2022 2021 Accrued bonuses $ 9,481 $ 17,015 Accrued vacation benefits 4,631 4,196 Accrued Employee Stock Purchase Plan liability 3,959 2,419 Accrued payroll taxes 3,698 1,693 Other accrued liabilities 26,445 30,704 $ 48,214 $ 56,027

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
Fair Value Measurements (Tables)	Jun. 30, 2022
Fair Value Measurements
Schedule of the Company's financial assets and financial liabilities measured at fair value on a recurring basis	The following tables present information about the Company’s financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2022 and December 31, 2021 and indicate the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value (in thousands): At June 30, 2022 Quoted prices Significant in active other Significant markets for observable unobservable June 30, identical assets inputs inputs 2022 (Level 1) (Level 2) (Level 3) Assets Cash equivalents: Money market funds (i) $ 25,069 $ 25,069 $ - $ - Available for sale securities: U.S. government agency bonds (ii) $ 104,093 $ - $ 104,093 $ - U.S. government bonds (ii) 75,657 - 75,657 - Bank certificates of deposit (ii) 10,466 - 10,466 - Corporate notes (ii) 53,313 - 53,313 - Asset-backed securities (ii) 27,135 - 27,135 - Municipal bonds (ii) 17,973 - 17,973 - Investments held for deferred compensation plans 7,484 - 7,484 - Total Assets $ 321,190 $ 25,069 $ 296,121 $ - Liabilities Deferred compensation plans $ 7,462 $ - $ 7,462 $ - Total Liabilities $ 7,462 $ - $ 7,462 $ - (i) Included in cash and cash equivalents with a maturity of three months or less from date of purchase on the condensed consolidated balance sheets. (ii) Included in short-term investments on the condensed consolidated balance sheets. At December 31, 2021 Quoted prices Significant in active other Significant markets for observable unobservable December 31, identical assets inputs inputs 2021 (Level 1) (Level 2) (Level 3) Assets Cash equivalents: Money market funds (i) $ 4,212 $ 4,212 $ - $ - Available for sale securities: U.S. government agency bonds (ii) $ 123,271 $ - $ 123,271 $ - U.S. government bonds (ii) 76,525 - 76,525 - Bank certificates of deposit (ii) 12,492 - 12,492 - Commercial paper (ii) 2,997 - 2,997 - Corporate notes (ii) 55,032 - 55,032 - Asset-backed securities (ii) 23,774 - 23,774 - Municipal bonds (ii) 19,252 - 19,252 - Investments held for deferred compensation plans 7,412 7,412 - Total Assets $ 324,967 $ 4,212 $ 320,755 $ - Liabilities Deferred compensation plans $ 7,302 $ - $ 7,302 $ - Total Liabilities $ 7,302 $ - $ 7,302 $ - (i) Included in cash and cash equivalents with a maturity of three months or less from date of purchase on the condensed consolidated balance sheets. (ii) Included in short-term investments on the condensed consolidated balance sheets.

Leases (Tables)

Leases (Tables)	6 Months Ended
Leases (Tables)	Jun. 30, 2022
Leases
Schedule of maturity of lease liability	Maturity of Lease Liabilities Operating Finance (in thousands) Leases (a) Leases (b) Remainder of 2022 $ 546 $ — 2023 3,417 7,495 2024 3,334 5,184 2025 3,292 5,340 2026 3,362 5,500 2027 3,467 5,665 Thereafter 33,759 101,880 Total lease payments $ 51,177 $ 131,064 Less: imputed interest 21,893 58,600 Total lease liabilities $ 29,284 $ 72,464 (a) Operating lease payments include $ 20.6 million related to options to extend lease terms that are reasonably certain of being exercised. (b) Finance lease payments include $75.8 million related to options to extend lease terms that are reasonably certain of being exercised.

Intangible Assets and Goodwill

Intangible Assets and Goodwill (Tables)	6 Months Ended
Intangible Assets and Goodwill (Tables)	Jun. 30, 2022
Intangible Assets and Goodwill
Schedule reflecting the composition of intangible assets and goodwill	The following table presents the composition of the Company’s intangible assets and goodwill (in thousands): Estimated As of June 30, 2022 As of December 31, 2021 Useful Gross Gross Life Carrying Accumulated Net Carrying Accumulated Net (in years) Amount Amortization Amount Amount Amortization Amount Developed technology 11.4 $ 252,200 (57,532) 194,668 252,200 (46,485) 205,715 Customer relationships 5.0 14,100 (7,343) 6,757 14,100 (5,934) 8,166 Intangible assets subject to amortization 266,300 (64,875) 201,425 266,300 (52,419) 213,881 In-process research and development Indefinite $ 118,900 — 118,900 118,900 — 118,900 Goodwill Indefinite $ 66,134 — 66,134 66,134 — 66,134 Total $ 451,334 $ (64,875) $ 386,459 $ 451,334 $ (52,419) $ 398,915
Schedule of expected amortization of finite-lived intangible assets	As of June 30, 2022, expected amortization expense for unamortized finite-lived intangible assets for the next five years and thereafter is as follows (in thousands): Amortization Expense Remainder of 2022 $ 12,456 2023 24,912 2024 24,619 2025 22,092 2026 22,092 Thereafter 95,254 Total amortization $ 201,425

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	6 Months Ended
Revenue from Contracts with Customers (Tables)	Jun. 30, 2022
Revenue from Contracts with Customers
Schedule of disaggregation of revenue	The Company’s revenues disaggregated by product category and geography for the three and six months ended June 30, 2022 and June 30, 2021 were as follows (in thousands): Three Months Ended June 30, United States International Total 2022 2021 2022 2021 2022 2021 Glaucoma $ 38,199 $ 46,313 $ 17,867 $ 16,411 $ 56,066 $ 62,724 Corneal Health 14,034 13,218 2,585 2,151 16,619 15,369 Total $ 52,233 $ 59,531 $ 20,452 $ 18,562 $ 72,685 $ 78,093 Six Months Ended June 30, United States International Total 2022 2021 2022 2021 2022 2021 Glaucoma $ 72,098 $ 86,202 $ 35,515 $ 30,221 $ 107,613 $ 116,423 Corneal Health 27,651 25,273 5,102 4,365 32,753 29,638 Total $ 99,749 $ 111,475 $ 40,617 $ 34,586 $ 140,366 $ 146,061

Net Loss per Share (Tables)

Net Loss per Share (Tables)	6 Months Ended
Net Loss per Share (Tables)	Jun. 30, 2022
Net Loss per Share
Schedule of the Company's net income (loss) per share
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 because to do so would be anti-dilutive were as follows (in common stock equivalent shares, in thousands): Three Months Ended Six Months Ended June 30, June 30, 2022 2021 2022 2021 Convertible senior notes 5,125 5,125 5,125 5,125 Stock options outstanding 2,483 3,391 2,371 3,545 Unvested restricted stock units 1,186 672 1,026 607 Employee stock purchase plan 18 15 23 16 8,812 9,203 8,545 9,293

Convertible Senior Notes (Table

Convertible Senior Notes (Tables)	6 Months Ended
Convertible Senior Notes (Tables)	Jun. 30, 2022
Convertible Senior Notes
Schedule of interest expense relating to the Convertible Notes	Interest expense relating to the Convertible Notes in the condensed consolidated statements of operations for the three and six months ended June 30, 2022 is summarized as follows (in thousands): Three months ended Six Months Ended June 30, June 30, 2022 2022 Contractual interest expense $ 1,977 $ 3,953 Amortization of debt issuance costs 343 687 Total interest expense $ 2,320 $ 4,640 Three months ended Six Months Ended June 30, June 30, 2021 2021 Contractual interest expense $ 1,977 $ 3,953 Amortization of debt issuance costs 343 687 Total interest expense $ 2,320 $ 4,640
Schedule of convertible senior notes	As of June 30, 2022 and December 31, 2021, the Convertible Notes on the condensed consolidated balance sheets represented the carrying amount of the Convertible Notes, net of unamortized debt issuance costs, which are summarized as follows (in thousands): As of As of June 30, December 31, 2022 2021 Convertible Notes $ 287,500 $ 287,500 Less: Unamortized debt issuance costs (6,787) (7,474) Carrying amount of Convertible Notes $ 280,713 $ 280,026

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
Stock-Based Compensation (Tables)	Jun. 30, 2022
Stock-Based Compensation.
Schedule summarizing the allocation of stock-based compensation	The following table summarizes the allocation of stock-based compensation related to stock options and RSUs in the accompanying condensed consolidated statements of operations (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2022 2021 2022 2021 Cost of sales $ 520 $ 452 $ 927 $ 872 Selling, general and administrative 7,570 5,898 12,256 12,392 Research and development 2,449 1,634 4,279 3,468 Total $ 10,539 $ 7,984 $ 17,462 $ 16,732

Organization and Basis of Pre_2

Organization and Basis of Presentation - Settlement Information (Details) - USD ($) $ in Thousands		3 Months Ended	6 Months Ended	12 Months Ended
	Jun. 09, 2022	Mar. 31, 2022	Jun. 30, 2022	Dec. 31, 2021	Sep. 14, 2021
Other commitments
Litigation-related settlement			$ 30,000
Patent Litigation \| Settled Litigation
Other commitments
Total agreed settlement amount					$ 60,000
Litigation-related settlement		$ 30,000		$ 30,000
Royalty fee (as a percent)			10%
iVeena License Agreement
Other commitments
Commitment obligation payments	$ 10,000

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Cash and Cash Equivalents (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021	Jun. 30, 2021	Dec. 31, 2020
Restricted cash
Cash and cash equivalents	$ 102,553	$ 100,708
Restricted cash	9,128	9,416
cash, cash equivalents and restricted cash in the condensed consolidated statements of cash flows	$ 111,681	$ 110,124	$ 127,712	$ 106,162

Balance Sheet Details - Short-T

Balance Sheet Details - Short-Term Investments (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Short-term investments
Amortized cost	$ 294,103	$ 314,355
Unrealized gains	11	90
Unrealized losses	(5,477)	(1,102)
Estimated fair value	288,637	313,343
Unrecognized impairment of available-for sale securities	5,500	1,000
Available-for-sale securities allowance for credit losses	0	0
U.S. Government bonds
Short-term investments
Amortized cost	76,778	76,765
Unrealized losses	(1,121)	(240)
Estimated fair value	$ 75,657	$ 76,525
U.S. Government bonds \| Maximum
Short-term investments
Maturity	2 years	1 year
U.S. Government agency bonds
Short-term investments
Amortized cost	$ 106,592	$ 123,803
Unrealized gains	11	8
Unrealized losses	(2,510)	(540)
Estimated fair value	$ 104,093	$ 123,271
U.S. Government agency bonds \| Maximum
Short-term investments
Maturity	3 years	3 years
Bank certificates of deposit
Short-term investments
Amortized cost	$ 10,500	$ 12,500
Unrealized gains		1
Unrealized losses	(34)	(9)
Estimated fair value	$ 10,466	$ 12,492
Bank certificates of deposit \| Maximum
Short-term investments
Maturity	2 years	1 year
Commercial paper
Short-term investments
Amortized cost		$ 2,998
Unrealized losses		(1)
Estimated fair value		$ 2,997
Commercial paper \| Maximum
Short-term investments
Maturity		1 year
Corporate notes
Short-term investments
Amortized cost	$ 54,379	$ 55,178
Unrealized gains		37
Unrealized losses	(1,066)	(183)
Estimated fair value	$ 53,313	$ 55,032
Corporate notes \| Maximum
Short-term investments
Maturity	3 years	3 years
Asset-backed securities
Short-term investments
Amortized cost	$ 27,408	$ 23,761
Unrealized gains		44
Unrealized losses	(273)	(31)
Estimated fair value	$ 27,135	$ 23,774
Asset-backed securities \| Maximum
Short-term investments
Maturity	2 years	2 years
Municipal bonds
Short-term investments
Amortized cost	$ 18,446	$ 19,350
Unrealized losses	(473)	(98)
Estimated fair value	$ 17,973	$ 19,252
Municipal bonds \| Maximum
Short-term investments
Maturity	3 years	3 years

Balance Sheet Details - Other (

Balance Sheet Details - Other (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Accounts Receivable, Net
Accounts receivable	$ 37,188	$ 34,805
Allowance for credit losses	(1,156)	(1,367)
Accounts receivable, net	36,032	33,438
Inventory
Finished goods	12,840	6,495
Work in process	4,918	7,010
Raw materials	10,084	9,506
Total inventory	27,842	23,011
Accrued Liabilities
Accrued bonuses	9,481	17,015
Accrued vacation benefits	4,631	4,196
Accrued Employee Stock Purchase Plan liability	3,959	2,419
Accrued payroll taxes	3,698	1,693
Other accrued liabilities	26,445	30,704
Total accrued liabilities	$ 48,214	$ 56,027

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value Hierarchy (Details) - Fair Value, Measurements, Recurring - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Assets
Total assets	$ 321,190,000	$ 324,967,000
Liabilities
Total liabilities	7,462,000	7,302,000
Fair Value, Inputs, Level 1
Assets
Total assets	25,069,000	4,212,000
Fair Value, Inputs, Level 2
Assets
Total assets	296,121,000	320,755,000
Liabilities
Total liabilities	7,462,000	7,302,000
Fair Value, Inputs, Level 3
Assets
Total assets	0	0
Liabilities
Total liabilities	0	0
Money market funds
Assets
Total assets	25,069,000	4,212,000
Money market funds \| Fair Value, Inputs, Level 1
Assets
Total assets	25,069,000	4,212,000
U.S. Government agency bonds
Assets
Total assets	104,093,000	123,271,000
U.S. Government agency bonds \| Fair Value, Inputs, Level 2
Assets
Total assets	104,093,000	123,271,000
U.S. Government bonds
Assets
Total assets	75,657,000	76,525,000
U.S. Government bonds \| Fair Value, Inputs, Level 2
Assets
Total assets	75,657,000	76,525,000
Bank certificates of deposit
Assets
Total assets	10,466,000	12,492,000
Bank certificates of deposit \| Fair Value, Inputs, Level 2
Assets
Total assets	10,466,000	12,492,000
Commercial paper.
Assets
Total assets		2,997,000
Commercial paper. \| Fair Value, Inputs, Level 2
Assets
Total assets		2,997,000
Corporate notes
Assets
Total assets	53,313,000	55,032,000
Corporate notes \| Fair Value, Inputs, Level 2
Assets
Total assets	53,313,000	55,032,000
Asset-backed securities
Assets
Total assets	27,135,000	23,774,000
Asset-backed securities \| Fair Value, Inputs, Level 2
Assets
Total assets	27,135,000	23,774,000
Municipal bonds
Assets
Total assets	17,973,000	19,252,000
Municipal bonds \| Fair Value, Inputs, Level 2
Assets
Total assets	17,973,000	19,252,000
Investments held for deferred compensation plans
Assets
Total assets	7,484,000	7,412,000
Liabilities
Total liabilities	7,462,000	7,302,000
Investments held for deferred compensation plans \| Fair Value, Inputs, Level 2
Assets
Total assets	7,484,000	7,412,000
Liabilities
Total liabilities	$ 7,462,000	$ 7,302,000

Fair Value Measurements - Trans

Fair Value Measurements - Transfers (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021	Jun. 11, 2020
Fair Value Measurements, Valuation
Amount of transfers of assets and liabilities measured on a recurring basis between Levels 1, 2 and 3 of the fair value hierarchy	$ 0	$ 0
2.75% Convertible Senior Notes due 2027
Fair Value Measurements, Valuation
Fair value of convertible senior notes	$ 345,100	$ 341,800
Interest rate (as a percent)	2.75%	2.75%	2.75%

Leases - Terms (Details)

Leases - Terms (Details)	6 Months Ended
Leases - Terms (Details)	Jun. 30, 2022
Leases
Operating Lease Existence of Option to Extend	true
Operating Lease Existence of Option to Terminate	true
Minimum
Leases
Operating lease remaining lease term	1 year
Maximum
Leases
Operating lease remaining lease term	13 years
Optional lease extension term	10 years
Operating lease period for lease termination	1 year

Leases - Leases Details (Detail

Leases - Leases Details (Details)		1 Months Ended	6 Months Ended
Leases - Leases Details (Details)	Nov. 14, 2020 ft² item property	Jul. 31, 2020 ft² item	Jun. 30, 2022 ft² item
Maximum
Operating Leases
Optional lease extension term			10 years
Domestic Office Leases
Operating Leases
The number of adjacent facilities rented			2
Number of lease renewal periods		1
Optional lease extension term		5 years
Area of leased space \| ft²		98,000
Foreign Subsidiaries Office Leases \| Maximum
Operating Leases
Area of leased space \| ft²			14,000
Aliso Facility
Operating Leases
Number of properties leased \| property	1
Number of buildings leased	3
Number of lease renewal periods	2
Optional lease extension term	5 years
Area of leased space \| ft²	160,000
Term of lease	13 years
Burlington Massachusetts Facility
Operating Leases
Number of lease renewal periods			1
Optional lease extension term			5 years
Area of leased space \| ft²			60,000

Leases - Maturity (Details)

Leases - Maturity (Details) $ in Thousands	6 Months Ended
Leases - Maturity (Details) $ in Thousands	Jun. 30, 2022 USD ($)
Operating Leases
Remainder of 2022	$ 546
2023	3,417
2024	3,334
2025	3,292
2026	3,362
2027	3,467
Thereafter	33,759
Total Operating lease payments	51,177
Less: imputed interest	21,893
Total Operating lease liabilities	29,284
Amount of operating leases with option to extend commitment	20,600
Finance Leases
2023	7,495
2024	5,184
2025	5,340
2026	5,500
2027	5,665
Thereafter	101,880
Total Finance lease payments	131,064
Less: imputed interest	58,600
Total Finance lease liabilities	72,464
Amount of financing leases with option to extend commitment	$ 75,800
Existence of option to extend	true

Intangible Assets and Goodwil_2

Intangible Assets and Goodwill - Other (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Intangible Assets and Goodwill
Amortization of intangible assets			$ 12,456	$ 12,456
Finite Lived - Gross Amount	$ 266,300		266,300		$ 266,300
Finite Lived - Accumulated Amortization	(64,875)		(64,875)		(52,419)
Finite Lived - Net Amount	201,425		201,425		213,881
Goodwill	66,134		66,134		66,134
Intangible Assets, Gross	451,334		451,334		451,334
Intangible Assets, Net	386,459		386,459		398,915
In-Process Research and Development (IPR&D)
Intangible Assets and Goodwill
Indefinite Lived assets	118,900		$ 118,900		118,900
Developed Technology
Intangible Assets and Goodwill
Useful life/amortization period			11 years 4 months 24 days
Finite Lived - Gross Amount	252,200		$ 252,200		252,200
Finite Lived - Accumulated Amortization	(57,532)		(57,532)		(46,485)
Finite Lived - Net Amount	194,668		$ 194,668		205,715
Customer Relationships
Intangible Assets and Goodwill
Useful life/amortization period			5 years
Finite Lived - Gross Amount	14,100		$ 14,100		14,100
Finite Lived - Accumulated Amortization	(7,343)		(7,343)		(5,934)
Finite Lived - Net Amount	6,757		6,757		$ 8,166
Cost of sales
Intangible Assets and Goodwill
Amortization of intangible assets	5,500	$ 5,500	11,000	11,000
Selling, general and administrative
Intangible Assets and Goodwill
Amortization of intangible assets	$ 700	$ 700	$ 1,400	$ 1,400

Intangible Assets and Goodwil_3

Intangible Assets and Goodwill - Maturity (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Estimated amortization expense
Remainder of 2022	$ 12,456
2023	24,912
2024	24,619
2025	22,092
2026	22,092
Thereafter	95,254
Finite Lived - Net Amount	$ 201,425	$ 213,881

Revenue from Contracts with C_3

Revenue from Contracts with Customers - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Revenues
Total net sales	$ 72,685	$ 78,093	$ 140,366	$ 146,061
United States
Revenues
Total net sales	52,233	59,531	99,749	111,475
International
Revenues
Total net sales	20,452	18,562	40,617	34,586
Glaucoma
Revenues
Total net sales	56,066	62,724	107,613	116,423
Glaucoma \| United States
Revenues
Total net sales	38,199	46,313	72,098	86,202
Glaucoma \| International
Revenues
Total net sales	17,867	16,411	35,515	30,221
Corneal Health
Revenues
Total net sales	16,619	15,369	32,753	29,638
Corneal Health \| United States
Revenues
Total net sales	14,034	13,218	27,651	25,273
Corneal Health \| International
Revenues
Total net sales	$ 2,585	$ 2,151	$ 5,102	$ 4,365

Revenue from Contracts with C_4

Revenue from Contracts with Customers - Other (Details)	6 Months Ended
Revenue from Contracts with Customers - Other (Details)	Jun. 30, 2022
Revenue from Contracts with Customers
Typical payment terms on invoiced amounts	30 days
Practical expedient financing component	true
Practical expedient cost of obtaining contract	true

Net Loss per Share - Dilutive S

Net Loss per Share - Dilutive Securities (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Anti-dilutive securities
Anti-dilutive securities excluded from computation of earnings per share	8,812	9,203	8,545	9,293
Convertible senior note
Anti-dilutive securities
Anti-dilutive securities excluded from computation of earnings per share	5,125	5,125	5,125	5,125
Stock options
Anti-dilutive securities
Anti-dilutive securities excluded from computation of earnings per share	2,483	3,391	2,371	3,545
Restricted Stock Units (RSUs) [Member]
Anti-dilutive securities
Anti-dilutive securities excluded from computation of earnings per share	1,186	672	1,026	607
ESPP
Anti-dilutive securities
Anti-dilutive securities excluded from computation of earnings per share	18	15	23	16

Convertible Senior Notes - Gene

Convertible Senior Notes - General (Details) - 2.75% Convertible Senior Notes due 2027	Jun. 11, 2020 USD ($) D	Jun. 30, 2022 USD ($)	Dec. 31, 2021 USD ($)
Long-Term Debt
Convertible Notes \| $	$ 287,500,000	$ 287,500,000	$ 287,500,000
Interest rate (as a percent)	2.75%	2.75%	2.75%
Net proceeds from the debt \| $	$ 242,200,000
Threshold trading days \| D	20
Threshold consecutive trading days \| D	30
Premium percentage on conversion price	130%
Number of business days \| D	5
Measurement period	10 days
Denomination for conversion of debt \| $	$ 1,000
Product of sale price and conversion rate (as a percent)	98%

Convertible Senior Notes - Inte

Convertible Senior Notes - Interest expense (Details) - 2.75% Convertible Senior Notes due 2027 - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Long-Term Debt
Contractual interest expense	$ 1,977	$ 1,977	$ 3,953	$ 3,953
Amortization of debt issuance costs	343	343	687	687
Total interest expense	$ 2,320	$ 2,320	$ 4,640	$ 4,640
Interest rate at period end	3.20%		3.20%

Convertible Senior Notes - Carr

Convertible Senior Notes - Carrying Amount (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021	Jun. 11, 2020
Long-Term Debt
Carrying amount of Convertible Notes	$ 280,713	$ 280,026
2.75% Convertible Senior Notes due 2027
Long-Term Debt
Convertible Notes	287,500	287,500	$ 287,500
Less: Unamortized debt issuance costs	(6,787)	(7,474)
Carrying amount of Convertible Notes	$ 280,713	$ 280,026

Stock-Based Compensation - Allo

Stock-Based Compensation - Allocation of Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Allocation of stock-based compensation
Stock-based compensation expense	$ 10,539	$ 7,984	$ 17,462	$ 16,732
Cost of sales
Allocation of stock-based compensation
Stock-based compensation expense	520	452	927	872
Selling, general and administrative
Allocation of stock-based compensation
Stock-based compensation expense	7,570	5,898	12,256	12,392
Research and development
Allocation of stock-based compensation
Stock-based compensation expense	$ 2,449	$ 1,634	$ 4,279	$ 3,468

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) $ in Millions	6 Months Ended
Stock-Based Compensation (Details) $ in Millions	Jun. 30, 2022 USD ($)
Stock-based compensation
Unamortized stock-based compensation expense not yet recognized	$ 75.9
Restricted Stock Units (RSUs) [Member]
Stock-based compensation
Unamortized stock-based compensation expense not yet recognized	$ 66.5
Options remaining vesting period	4 years
Weighted average period of recognition	3 years
Stock options
Stock-based compensation
Unamortized stock-based compensation expense not yet recognized	$ 9.4
Options remaining vesting period	4 years
Weighted average period of recognition	2 years 3 months 18 days

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Income Taxes
Effective tax rate (as a percent)	0.23%		(0.55%)
Provision for income taxes	$ (105)	$ 208	$ 221	$ 487
Unrecognized tax benefits	$ 26,900		$ 26,900		$ 25,800

Commitments and Contingencies -

Commitments and Contingencies - Other (Details) $ in Millions		3 Months Ended		6 Months Ended
	Nov. 14, 2018	Jun. 30, 2022 USD ($) item	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($) item	Jun. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)	Sep. 14, 2021 USD ($)	Dec. 30, 2014 USD ($)
Other commitments
Letter of Credit outstanding		$ 8.8		$ 8.8
Restricted cash pledged for letter of credit		$ 8.8		$ 8.8		$ 8.8
Number of Months from start of lease for adjustments to Letter of Credit \| item		37		37
Frequency of adjustment to Letter of Credit	12 months
Adjustment rate of Letter of Credit (as a percent)				20%
Amount of Letter of Credit outstanding after adjustments		$ 2		$ 2
Number of other irrevocable letters of credit outstanding \| item		1		1
Restricted cash pledged for office lease agreement		$ 0.3		$ 0.3
Deferred compensation plan liability		7.5		7.5		7.3
Deferred Compensation Plan Assets		7.6		7.6		$ 7.4
Agreement with the Regents
Other commitments
Minimum required annual payment of the commitment obligation, based on net sales of current and future products								$ 0.5
Cost of sales \| Agreement with the Regents
Other commitments
Commitment obligation payments		$ 0.7	$ 1.2	$ 1.6	$ 2.1
Patent Litigation \| Settled Litigation
Other commitments
Total agreed settlement amount							$ 60

Business Segment Information (D

Business Segment Information (Details)	6 Months Ended
Business Segment Information (Details)	Jun. 30, 2022 item segment
Business Segment Information
Number Of Business Activities \| item	1
Number of Operating Segments \| segment	1