Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Glaukos Corporation's third quarter 2024 financial results highlighted a period of notable growth driven by strategic product developments and an expanding market presence.</li><li>The company achieved record consolidated net sales of $96.7 million, representing a 24% increase from the previous year.</li><li>This performance prompted Glaukos to revise its full-year 2024 net sales guidance upwards to $377 million to $379 million, reflecting optimism about continued growth.</li></ul>

Glaukos Corporation's third quarter 2024 financial results highlighted a period of notable growth driven by strategic product developments and an expanding market presence.The company achieved record consolidated net sales of $96.7 million, representing a 24% increase from the previous year.This performance prompted Glaukos to revise its full-year 2024 net sales guidance upwards to $377 million to $379 million, reflecting optimism about continued growth.

Glaukos Corporation: Advancement of iDose TR & Market Penetration As  A Pivotal Growth Lever! - Major Drivers

<ul><li>Glaukos Corporation's second quarter earnings for 2024 revealed a 19% increase in consolidated net sales which amounted to $95.7 million, reflecting consistent growth across both U.S. and international markets, particularly in the glaucoma division.</li><li>The company has upwardly revised its full-year net sales guidance for 2024 to $370 million - $376 million, indicating optimistic projections based on current performance.</li><li>Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.</li></ul>

Glaukos Corporation's second quarter earnings for 2024 revealed a 19% increase in consolidated net sales which amounted to $95.7 million, reflecting consistent growth across both U.S. and international markets, particularly in the glaucoma division.The company has upwardly revised its full-year net sales guidance for 2024 to $370 million - $376 million, indicating optimistic projections based on current performance.Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.

Glaukos Corporation: These Are The 4 Reasons Why We Are Relatively Less Optimistic! - Major Drivers

<ul><li>Glaukom Corporation has reported a promising start to Q1 2024, underscoring strong sales and a forward-looking strategy driven by innovations in glaucoma and corneal health technologies.</li><li>In the first quarter, Glaukom posted record net sales of $85.6 million, marking a 16% rise compared to the previous year.</li><li>U.S. and international glaucoma franchises each saw a year-over-year growth of 20%, showcasing robust market engagements driven mainly by the iStent products and the promising launch of iDose TR, a novel microinvasive injectable therapy.</li></ul>

Glaukom Corporation has reported a promising start to Q1 2024, underscoring strong sales and a forward-looking strategy driven by innovations in glaucoma and corneal health technologies.In the first quarter, Glaukom posted record net sales of $85.6 million, marking a 16% rise compared to the previous year.U.S. and international glaucoma franchises each saw a year-over-year growth of 20%, showcasing robust market engagements driven mainly by the iStent products and the promising launch of iDose TR, a novel microinvasive injectable therapy.

Glaukos Corporation: Is The Enhanced Training & Scaling of Surgeon Adoption Enough To Warrant A Bullish Rating? - Major Drivers

<ul><li>Glaukos Corporation reported record fourth quarter consolidated net sales of $82.4 million, representing a 16% increase on a reported basis and 15% on a constant currency basis from the previous year.</li><li>For the full year of 2023, the consolidated net sales of approximately $315 million showed an increase of 11% on a reported basis and 12% on a constant currency basis compared to 2022.</li><li>The company also reaffirmed its full year 2024 net sales guidance range of $350 million to $360 million.</li></ul>

Glaukos Corporation reported record fourth quarter consolidated net sales of $82.4 million, representing a 16% increase on a reported basis and 15% on a constant currency basis from the previous year.For the full year of 2023, the consolidated net sales of approximately $315 million showed an increase of 11% on a reported basis and 12% on a constant currency basis compared to 2022.The company also reaffirmed its full year 2024 net sales guidance range of $350 million to $360 million.

Glaukos Corporation: Initiation Of Coverage - Strong Market Dynamics & A Robust Business Strategy! - Major Drivers

Global Healthcare Analyst

Tina Banerjee

<ul>
<li>
<a href="https://www.smartkarma.com/entities/axonics-inc" target="_blank" data-smartkarma-citation="entities:36996:1" rel="noopener">Axonics (AXNX US)</a> believes that the U.S. sacral neuromodulation market is now worth of ~$800M, which is poised to double over the next five years to $1.6B.</li>
<li>The company has been reporting superior revenue growth since 2020. Axonics raised 2023 revenue guidance to $358M, up 32% YoY. The company has become adjusted EBITDA positive in 2022.</li>
<li>With superior product portfolio in terms of patient satisfaction, longer product life, and smaller size, Axonics is the stronger player in the U.S. duopoly sacral neuromodulation market.</li>
</ul>



Axonics (AXNX US) believes that the U.S. sacral neuromodulation market is now worth of ~$800M, which is poised to double over the next five years to $1.6B.
The company has been reporting superior revenue growth since 2020. Axonics raised 2023 revenue guidance to $358M, up 32% YoY. The company has become adjusted EBITDA positive in 2022.
With superior product portfolio in terms of patient satisfaction, longer product life, and smaller size, Axonics is the stronger player in the U.S. duopoly sacral neuromodulation market.


Axonics (AXNX US): Large Underserved Market And Superior Portfolio Ensure Multi-Year Growth

United States

Glaukos Corporation operates as an ophthalmic medical technology company. The Company develops, manufactures, and markets medical devices for the treatment of glaucoma. Glaukos offers micro-scale injectable therapies designed to address the complete range of glaucoma disease states and progression.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Glaukos Corp (GKOS US)

Glaukos Corporation: Advancement of iDose TR & Market Penetration As A Pivotal Growth Lever! - Major Drivers

Glaukos Corporation's third quarter 2024 financial results highlighted a period of notable growth driven by strategic product developments and an...

Baptista Research

Glaukos Corporation: These Are The 4 Reasons Why We Are Relatively Less Optimistic! - Major Drivers

Glaukos Corporation's second quarter earnings for 2024 revealed a 19% increase in consolidated net sales which amounted to $95.7 million,...

Baptista Research

Glaukos Corporation: Is The Enhanced Training & Scaling of Surgeon Adoption Enough To Warrant A Bullish Rating? - Major Drivers

Glaukom Corporation has reported a promising start to Q1 2024, underscoring strong sales and a forward-looking strategy driven by innovations in...

Baptista Research

Glaukos Corporation: Initiation Of Coverage - Strong Market Dynamics & A Robust Business Strategy! - Major Drivers

Glaukos Corporation reported record fourth quarter consolidated net sales of $82.4 million, representing a 16% increase on a reported basis and...

Baptista Research

Axonics (AXNX US): Large Underserved Market And Superior Portfolio Ensure Multi-Year Growth

Axonics predicts the U.S. sacral neuromodulation market will double to $1.6B in the next five years. The company is reporting strong revenue...

Tina Banerjee

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Glaukos Corporation: Advancement of iDose TR & Market Penetration As A Pivotal Growth Lever! - Major Drivers

Glaukos Corporation's third quarter 2024 financial results highlighted a period of notable growth driven by strategic product developments and an...

Baptista Research

Glaukos Corporation: These Are The 4 Reasons Why We Are Relatively Less Optimistic! - Major Drivers

Glaukos Corporation's second quarter earnings for 2024 revealed a 19% increase in consolidated net sales which amounted to $95.7 million,...

Baptista Research

Glaukos Corporation: Is The Enhanced Training & Scaling of Surgeon Adoption Enough To Warrant A Bullish Rating? - Major Drivers

Glaukom Corporation has reported a promising start to Q1 2024, underscoring strong sales and a forward-looking strategy driven by innovations in...

Baptista Research

Glaukos Corporation: Initiation Of Coverage - Strong Market Dynamics & A Robust Business Strategy! - Major Drivers

Glaukos Corporation reported record fourth quarter consolidated net sales of $82.4 million, representing a 16% increase on a reported basis and...

Baptista Research

Axonics (AXNX US): Large Underserved Market And Superior Portfolio Ensure Multi-Year Growth

​Axonics predicts the U.S. sacral neuromodulation market will double to $1.6B in the next five years. The company is reporting strong revenue...

Tina Banerjee

Axonics predicts the U.S. sacral neuromodulation market will double to $1.6B in the next five years. The company is reporting strong revenue...