IRIX Research | Milton Maxwell

IRIX

IRIDEX Corporation

1.0050

+0.0182+1.84%

Dec 16, 4:00:00 PM EST

Upcoming Earnings

Report date

-/-

Earnings Call Transcripts

This Quarter (Q1 '26)

No earnings call transcript available yet

Last Quarter (Q4 '25)

FY Q4 '25

Q&A quantifies ME hit, reaffirms pricing

3/25/26Mar 25, 2026

Q&A added modest color, quantifying Middle East revenue at 5% of total—explaining the exclusion from 2026's $51M-$53M guidance—while largely reaffirming prepared remarks on growth drivers. Management pushed back on perceived G6 pricing weakness, stressing U.S. and OUS ASP hikes alongside probe volume gains. On retina, they touted PASCAL's share gains versus slower rivals, eyeing MDR approvals for global upside. Other revenue variability tied to lumpy services. PASCAL outpaces competition. Confident tone persists; investors will eye Asia macros and manufacturing shifts.

Key Stats

Market Cap

17.28M

P/E (TTM)

Basic EPS (TTM)

-0.30

Dividend Yield

Recent Filings

8-K

IRIDEX leases San Jose HQ

3/13/26Mar 13, 2026

IRIDEX inked a triple-net lease on March 9, 2026, for 30,784 sq ft at 5215 Hellyer Ave, San Jose, as its new HQ, kicking off July 1 with 90 months' term and a 60-month extension option. Rent starts at $646K annually, abating for six months, then escalates 3% yearly; security deposit $132K. New digs suit office, R&D, and manufacturing needs.

8-K

IRIDEX Q4 revenue surges 15-17%

1/12/26Jan 12, 2026

IRIDEX announced preliminary Q4 2025 results with revenue expected at $14.6-$14.8 million, up 15-17% from $12.7 million last year, fueled by 15,800 Cyclo G6 probes sold versus 13,300 prior. Full-year revenue hits $52.5-$52.7 million, up 8%, with positive cash flow in Q4 and expected positive adjusted EBITDA. Cost cuts drove efficiencies. Results await audit.

8-K

Sidoti conference webcast today

12/11/25Dec 11, 2025

IRIDEX is presenting at the Sidoti Year-End Virtual Investor Conference today, December 11, 2025, with a live webcast at 10:45 a.m. ET accessible on its website. Presentation materials are furnished as Exhibit 99.1 under Regulation FD. No updates promised. Information not filed.

10-Q

Q3 FY2026 results

11/12/25Nov 12, 2025

IRIDEX posted Q3 revenues of $12.5M, up 7.8% y/y from $11.6M, with Cyclo G6 and retina lines gaining 13.1% and 3.8%; gross margin slipped to 32.1% from 37.3% on $0.8M inventory write-down. Operating loss narrowed to $1.4M from $1.9M as R&D, sales, and G&A expenses fell sharply on headcount cuts. Cash climbed to $5.6M; issued $4M convertible note and $6M Series B preferred to Novel, extinguished prior Lind note with $1.3M loss. EPS holds at -$0.09, matching 17M shares. Topcon drove 31% of sales. Debt matures 2028. Competition from other products pressures margins.

8-K

Q3 revenue up 8%

11/12/25Nov 12, 2025

IRIDEX posted Q3 revenue of $12.5 million, up 8% year-over-year, fueled by 13% Cyclo G6 growth to $3.5 million while retina added 4%. Operating expenses dropped 12% to $5.4 million, narrowing net loss to $1.6 million; adjusted EBITDA loss shrank to $131 thousand. Cash fell to $5.6 million. Targets full-year adjusted EBITDA positivity.

About

IRIDEX Corporation, an ophthalmic medical technology company, provides therapeutic based laser systems, delivery devices, and consumable instrumentation to treat sight-threatening eye diseases in ophthalmology. It offers laser consoles, such as Cyclo G6 laser system for use in the treatment of glaucoma; IQ 532 and IQ 577 laser systems, which are used for the treatment of retinal disorders; and OcuLight TX, OcuLight SL, OcuLight SLx, OcuLight GL, and OcuLight GLx laser photocoagulation systems that are used to treat proliferative diabetic retinopathy, macular holes, retinal tears, and detachments. The company also provides delivery devices, including slit lamp adapter, which allows the physician to utilize a standard slit lamp in diagnosis and treatment procedures; TxCell scanning laser delivery system that allows the physician to perform multi-spot pattern scanning; and laser indirect ophthalmoscope for use in procedures to treat peripheral retinal disorders. In addition, it offers MicroPulse P3 Probe, which is used with its Cylco G6 laser system to perform transscleral laser therapy; G-Probe and G-Probe Illuminate, which are used in procedures to treat refractory glaucoma; and EndoProbe family of products that are used for endophotocoagulation. The company serves ophthalmologists, research and teaching hospitals, government installations, surgical centers, hospitals, veterinary practices, and office clinics through direct and independent sales force in the United States, as well as through independent distributors internationally. It operates in the United States, Europe, the Middle East, Africa, the Asia/Pacific region, and the Americas. The company was formerly known as IRIS Medical Instruments, Inc. and changed its name to IRIDEX Corporation in November 1995. IRIDEX Corporation was incorporated in 1989 and is headquartered in Mountain View, California.

CEO

Mr. Bassem BouHabib

IPO

2/16/1996

Website

https://www.iridex.com

Employees

Sector

Healthcare

Industry

Medical Devices