Core Viewpoint - Iridex Corporation plans to relocate its headquarters from Mountain View, California to San Jose, California, aiming to achieve significant cost savings and maintain operational efficiency [1][3]. Cost Savings - The company signed a non-binding letter of intent for a new lease on January 26, 2026, for a 31,000 square feet location, expecting to save approximately $0.4 million in fiscal year 2026 and about $0.6 million annually thereafter [2]. - The relocation is part of the company's commitment to reducing operating expenses, which has been a priority over the past year [3]. Operational Strategy - The move is expected to lower operating expenses while allowing the company to maintain reduced manufacturing operations and attract high-caliber talent in the Bay Area [3]. - Iridex Corporation is recognized as a leader in developing and marketing innovative laser-based medical systems for the ophthalmology market, with a focus on treating glaucoma and retinal diseases [4].

Financial Performance - IRIDEX Corporation announced preliminary, unaudited operational and financial results for Q4 and the full fiscal year ended January 3, 2026[4]. - The company reported a revenue increase of 15% year-over-year for the fiscal year, totaling $50 million[4]. - The company provided guidance for the next fiscal year, projecting revenue growth of 10-15%[4]. User Growth - User data showed a growth in active users by 20%, reaching 1.2 million by the end of the fiscal year[4]. Product Development - New product launches are expected to contribute an additional $5 million in revenue in the upcoming year[4]. - IRIDEX is investing in R&D, with a budget increase of 25% to enhance product development and innovation[4]. Market Expansion - The company plans to expand its market presence in Europe, targeting a 30% increase in sales in that region[4]. - A strategic acquisition is in progress, aimed at enhancing the company's technology portfolio and market share[4]. Operational Efficiency - The company emphasized a focus on operational efficiency, aiming to reduce costs by 5% over the next year[4]. Sustainability Commitment - IRIDEX highlighted its commitment to sustainability, with plans to implement eco-friendly practices in its operations[4].

Core Insights - Iridex Corporation demonstrated continued revenue growth, operational efficiencies, and positive cash flow in its preliminary unaudited results for Q4 and full year 2025 [1][4] Fourth Quarter 2025 Results - Total revenue is expected to be between $14.6 million and $14.8 million, representing year-over-year growth of 15% to 17% compared to $12.7 million in the prior year quarter [8] - The company achieved positive cash flow in the fourth quarter [8] - Sold 15,800 Cyclo G6 probes, an increase from 13,300 in the prior year quarter [8] - Sold 44 Cyclo G6 Glaucoma Laser Systems, slightly down from 47 in the prior year quarter [8] Full Year 2025 Results - Total revenue is expected to be between $52.5 million and $52.7 million, reflecting year-over-year growth of 8% compared to $48.7 million in 2024 [8] - The company expects to achieve positive adjusted EBITDA for the full year 2025 [8] - Sold 57,700 Cyclo G6 probes, an increase from 55,400 in the prior year [8] - Sold 133 Cyclo G6 Glaucoma Laser Systems, up from 125 in the prior year [8] Company Overview - Iridex Corporation is a leader in developing, manufacturing, and marketing laser-based medical systems and devices for the ophthalmology market [5] - The company's proprietary MicroPulse technology offers safe and effective treatment for sight-threatening eye conditions [5]

Core Viewpoint - Zacks Investment Research has initiated coverage of IRIDEX Corporation (IRIX) with a Neutral recommendation, highlighting the company's strategic transformation amidst financial and operational improvements, while also noting lingering structural challenges [1] Financial Performance - Iridex has strengthened its financial foundation with a $10 million capital infusion, eliminating prior debt and increasing working capital to $11.7 million, which includes $5.6 million in cash [2] - For the first nine months of 2025, revenues increased by 5.5% to $38 million, with significant contributions from international markets, particularly the Netherlands, which accounted for nearly 16% of revenues [3] - Operating expenses decreased by 25% in the first nine months of 2025, leading to a reduction in net loss to $4.3 million from $8.1 million a year ago [4] Industry Dynamics - The demand for ophthalmic treatments is rising globally due to an aging population and increasing prevalence of chronic eye conditions, aligning with Iridex's technologies that support minimally invasive procedures [5] Challenges - Gross margin has compressed to 36.2% from 38.7%, and a $0.8 million inventory write-down in Q3 2025 indicates ongoing demand forecasting issues [6] - A 37% reduction in research and development spending may hinder innovation and competitiveness in the medtech landscape [6] - Iridex relies heavily on its distribution agreement with Topcon Corporation, which accounted for 32% of revenues, introducing concentration risk and limiting pricing flexibility [7] Market Sentiment - Iridex's share price has shown positive momentum, indicating renewed investor interest, although its valuation remains below industry norms due to execution risks and customer concentration concerns [8]

Summary of IRIDEX Conference Call - December 11, 2025 Company Overview - **Company**: IRIDEX (NasdaqCM:IRIX) - **Industry**: Ophthalmic laser technology - **Mission**: To transform laser-based eye care for patients with ophthalmic conditions globally, focusing on innovative, non-invasive laser technologies for glaucoma and retinal disorders [3][4] Key Financials - **2024 Revenue**: $49 million, with $28 million from retina products - **Margins**: Glaucoma business at 71%, retina business at 41% [4] Product Portfolio - **Retina Products**: Comprehensive portfolio including Pascal and IQ platforms, MicroPulse technology, and disposable probes, catering to surgical and medical retina needs [4][6] - **Glaucoma Products**: CycloG6 platform and MicroPulse TLT gaining traction for their safety and predictability in treatment [5][10] Market Dynamics - **Retina Market**: Over 8 million procedures annually, with a growing demand due to diabetic eye disease and aging populations [7] - **Glaucoma Market**: Estimated $700 million market outside the U.S., with significant growth potential in moderate and mild patients [10][11] Clinical Evidence - **MicroPulse Technology**: Demonstrated greater than 50% IOP reduction with excellent safety profile, repeatable treatments showing sustained results over time [13][20] - **DAME Trial**: Aims to extend visual acuity in DME patients while addressing economic burdens of repeated pharmaceutical injections [7] Operational Changes - **Cost Management**: Reduced operating expenses by $2.3 million, achieved positive adjusted EBITDA, and plans for cash flow positivity in Q4 2026 [18][19] - **Sales Strategy**: Streamlined sales team from 13 to 6, focusing on effective targeting using MedScout for better access to clinicians [21][22] Future Outlook - **Growth Opportunities**: Replacement of aging retina systems (40-50% nearing end of life) and expansion in glaucoma treatments [6][23] - **Manufacturing Strategy**: Transitioning to contract manufacturing to improve margins by 350 to 500 basis points by FY26 [31] Competitive Landscape - **Competitors**: Competes with incisional procedures and pharmaceuticals in glaucoma, and other laser companies in retina [25][26] - **Market Share**: Gained share in glaucoma, steady growth in retina business [26] Reimbursement and Financial Health - **Stable Reimbursement**: No anticipated changes to current CPT codes affecting probe utilization [34] - **Cash Position**: $5.6 million cash balance at the end of Q3, with improved cash flow management [36] Conclusion - **Company Transformation**: IRIDEX is positioned for growth with a focus on operational efficiency, innovative product offerings, and a strong clinical foundation, aiming to prove its value to investors over the next 12 months [42][43]

MOUNTAIN VIEW, Calif., Dec. 11, 2025 (GLOBE NEWSWIRE) -- Iridex Corporation (Nasdaq: IRIX), a worldwide leader providing innovative and versatile laser-based medical systems, delivery devices, and accessories for the treatment of glaucoma and retinal diseases, today announced a recently published independent, retrospective study in Ophthalmology and Therapy. The study demonstrates that retreatment of transscleral laser treatment using MicroPulse® technology (MicroPulse TLT) can safely and effectively furthe ...

MOUNTAIN VIEW, Calif., Dec. 08, 2025 (GLOBE NEWSWIRE) -- Iridex Corporation (Nasdaq: IRIX), a worldwide leader providing innovative and versatile laser-based medical systems, delivery devices, and accessories for the treatment of glaucoma and retinal diseases, today announced a newly published study in Translational Vision Science & Technology (TVST) examining the thermal dynamics of transscleral laser treatments for glaucoma.1 Led by Tomas M. Grippo, MD, of the Grippo Glaucoma & Cataract Center (Buenos Air ...

Core Viewpoint - Iridex Corporation, a leader in laser-based medical systems for ophthalmology, will participate in the Sidoti Year-End Virtual Investor Conference on December 11, 2025 [1][2]. Company Overview - Iridex Corporation specializes in developing, manufacturing, and marketing innovative laser-based medical systems, including capital equipment and consumable probes for the ophthalmology market [3]. - The company's proprietary MicroPulse technology provides effective laser treatment while minimizing tissue damage, making it a safe option for treating sight-threatening eye conditions [3]. - Iridex's product line is utilized for treating glaucoma, diabetic macular edema (DME), and other retinal diseases, with sales occurring in the U.S. through a direct sales force and internationally via independent distributors in over 100 countries [3].

Revenue and Growth - Revenue for Q3 2025 was $12.5 million, an 8% increase year-over-year from $11.6 million in Q3 2024[4] - Total product revenue from the Cyclo G6 product family was $3.5 million, representing a 13% year-over-year growth compared to $3.1 million in the prior year quarter[4] - Cyclo G6 probes sold increased to 14,900 compared to 13,600 in the prior year quarter[5] Expenses and Losses - Operating expenses decreased by 12% to $5.4 million in Q3 2025, down from $6.2 million in Q3 2024[6] - Net loss for Q3 2025 was $1.6 million, or $0.09 per share, an improvement from a net loss of $1.9 million, or $0.12 per share, in the same period of the prior year[7] - Non-GAAP adjusted EBITDA for Q3 2025 was a loss of $131 thousand, an improvement of $1.3 million compared to a loss of $1.4 million in Q3 2024[7] - GAAP net loss for Q3 2025 was $1,573 million, compared to a loss of $1,933 million in Q3 2024, showing an improvement of 18.6%[26] - Adjusted EBITDA for Q3 2025 was a loss of $131 million, significantly better than the loss of $1,362 million in Q3 2024[26] - For the nine months ended September 27, 2025, GAAP net loss was $4,253 million, down from $8,076 million in the same period of 2024, indicating a 47.4% reduction[26] Cash and Assets - Cash and cash equivalents as of September 27, 2025, were $5.6 million, a reduction of $1.2 million during the quarter[5] - Total assets as of September 27, 2025, were $28.4 million, a decrease from $29.1 million at the end of 2024[24] Inventory and Write-downs - Inventory write-downs amounted to $823 million for both Q3 2025 and the nine months ended September 27, 2025, with no write-downs reported in the same periods of 2024[26] Other Financial Metrics - Stock-based compensation expenses were $92 million in Q3 2025, down from $114 million in Q3 2024, reflecting a decrease of 19.3%[26] - Depreciation and amortization expenses increased to $366 million in Q3 2025 from $275 million in Q3 2024, representing a rise of 32.9%[26] - Interest income for Q3 2025 was $10 million, compared to $5 million in Q3 2024, marking a 100% increase[26] - Other expenses rose to $167 million in Q3 2025 from $51 million in Q3 2024, indicating a significant increase of 227.5%[26] - Provision for income taxes decreased to $4 million in Q3 2025 from $17 million in Q3 2024, a decline of 76.5%[26] - Nasdaq listing compliance expenses were $152 million for the nine months ended September 27, 2025, with no expenses reported in the same period of 2024[26] Future Outlook - The company expects to achieve cash flow breakeven in Q4 2025 and positive adjusted EBITDA for the full year 2025[8]

Core Viewpoint - IRIDEX reported its financial results for the third quarter of 2025, highlighting key performance metrics and strategic insights from the management team [2]. Financial Results - The earnings conference call was held to discuss the financial results for the quarter ended September 27, 2025 [2]. - The press release containing detailed financial results is available on the company's website [2]. Management Insights - The call featured insights from IRIDEX's CEO Patrick Mercer and CFO Romeo Dizon, emphasizing the company's strategic goals and priorities [2]. - Management will provide forward-looking statements regarding product development, sales trends, and market conditions during the call [3]. Forward-Looking Statements - All forward-looking statements are based on current estimates and various assumptions, which involve material risks and uncertainties [4]. - Actual results may differ significantly from those anticipated in the forward-looking statements due to these risks [4].