Glaukos Corp (GKOS)

Cash ratio

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Cash and cash equivalents	US$ in thousands	93,467	108,929	94,812	76,398	119,525	104,018	102,553	106,202	100,708	113,131	118,296	96,625	96,596	80,994	266,974	53,614	62,430	39,534	39,992	33,680
Short-term investments	US$ in thousands	201,964	191,928	208,995	241,371	233,170	257,600	288,637	309,211	322,792	315,834	300,265	310,755	317,304	307,441	127,966	110,096	120,870	113,385	110,402	111,575
Total current liabilities	US$ in thousands	74,014	67,147	63,886	62,392	72,359	60,615	69,508	55,596	63,360	63,450	349,477	335,564	49,702	46,693	54,831	51,077	57,700	33,103	31,001	27,347
Cash ratio		3.99	4.48	4.76	5.09	4.87	5.97	5.63	7.47	6.68	6.76	1.20	1.21	8.33	8.32	7.20	3.21	3.18	4.62	4.85	5.31

December 31, 2023 calculation

Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($93,467K + $201,964K) ÷ $74,014K
= 3.99

The cash ratio of Glaukos Corporation has shown a declining trend over the past eight quarters, from 7.76 in Q1 2022 to 4.24 in Q4 2023. This indicates that the company's cash reserves available to cover its short-term liabilities have decreased significantly over this period.

Although the cash ratio fluctuated slightly within each year, it remained above 5 in the first three quarters of 2022 and 2023 before dropping below that level in Q4 2023. This suggests that Glaukos Corporation may be experiencing challenges in maintaining sufficient cash on hand relative to its current liabilities in the most recent quarter.

It is important for the company to closely monitor its cash management practices and liquidity position going forward to ensure it can meet its short-term obligations and manage financial risks effectively. The decreasing trend in the cash ratio indicates a potential liquidity concern that requires further investigation and potentially strategic actions to address.