Exhibit 99.1 Iridex Reports Third Quarter 2024 Financial Results MOUNTAIN VIEW, Calif., November 12, 2024 -- Iridex Corporation (Nasdaq: IRIX), a worldwide leader providing innovative and versatile laser-based medical systems, delivery devices, and procedure probes for the treatment of glaucoma and retinal diseases, today reported financial results for the third quarter ended September 28, 2024. Third Quarter 2024 Financial and Recent Highlights • Expects to achieve EBITDA breakeven in the fourth quarter of ...

MOUNTAIN VIEW, Calif., Nov. 04, 2024 (GLOBE NEWSWIRE) -- Iridex Corporation (NASDAQ: IRIX), a worldwide leader providing innovative and versatile laser-based medical systems, delivery devices, and procedure probes for the treatment of glaucoma and retinal diseases, today announced the Company will release financial results for the third quarter 2024 and provide a business update after the close of trading on Tuesday, November 12, 2024. The Company’s management team will host a corresponding conference call ...

MOUNTAIN VIEW, Calif., Oct. 03, 2024 (GLOBE NEWSWIRE) -- Iridex Corporation (Nasdaq: IRIX), a worldwide leader providing innovative and versatile laser-based medical systems, delivery devices, and procedure probes for the treatment of glaucoma and retinal diseases, today announced the appointment of Patrick Mercer as the Company's Chief Executive Officer and President effective October 1, 2024. Previously Mr. Mercer served as the Company's Chief Operating Officer and President. David Bruce, the Company's pr ...

Strategic Review and Asset Sale - The company initiated a strategic review a year ago to unlock shareholder value, with the ultimate goal of selling its assets [1] - Despite initial expectations, no asset sale agreements have been reached as of late August 2024 [1] - The company remains committed to selling its assets, as evidenced by management restructuring to focus on strategic alternatives [5] Challenges and Investor Concerns - A major hurdle was a reimbursement issue, which was resolved in the company's favor but delayed the asset sale process [1] - Investor concerns include impatience with management's ability to close a deal, potential equity issuance for capital, and doubts about finding interested buyers [3][4] - The stock price has fallen back to pre-strategic review levels, reflecting investor frustration [2] Financial Sustainability and Recent Developments - The company's glaucoma business is a money-loser, while its retina business is profitable [6] - In early August, the company secured a convertible note financing, providing $3.5M in immediate liquidity and an additional $1.5M if needed, ensuring financial stability during the strategic review [6] - The financing strengthens the company's bargaining position with potential acquirers [6] Potential Asset Sale Scenarios - Selling the entire company at once could result in a quicker sale but potentially at a lower total share price [9] - Selling the profitable retina business first could significantly increase the share price, while retaining the glaucoma business for future potential [9] - Selling the glaucoma business first would provide immediate financial stability, as the retina business is cash-flow positive [9] Valuation and Expectations - The retina business is estimated to generate an annual net profit of $10M, with a potential valuation of $60-80M (6-8x multiple) [10] - The glaucoma business is estimated to have a $10M annual revenue run rate, with a potential valuation of $25M, though this may decrease due to delays in the strategic review [10] - Initial expectations for a total sale price of $6.00/share or more have been revised to $3.50-$4.50/share, reflecting the prolonged strategic review process [10] Conclusion and Outlook - The company remains serious about selling its assets, with management restructuring and financial measures in place to support the process [11] - The CEO expects an agreement for the sale of certain assets by the end of 2024 [7] - Patient investors could see a doubling of the current share price within the next 3-6 months, driven by the underlying value of the retina division [11]

IRIDEX Corporation (NASDAQ:IRIX) Q2 2024 Earnings Conference Call August 8, 2024 5:00 PM ET Company Participants Philip Taylor – Investor Relations David Bruce – Chief Executive Officer Fuad Ahmad – Interim Chief Financial Officer Conference Call Participants Tom Stephan – Stifel Operator Good day, and thank you for standing by. At this time I would like to welcome everyone to IRIDEX Second Quarter 2024 Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the s ...

Iridex (IRIX) came out with a quarterly loss of $0.16 per share versus the Zacks Consensus Estimate of a loss of $0.12. This compares to loss of $0.17 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -33.33%. A quarter ago, it was expected that this medical laser company would post a loss of $0.12 per share when it actually produced a loss of $0.21, delivering a surprise of -75%. Over the last four quarters, the company has su ...

Exhibit 99.1 Iridex Reports Second Quarter 2024 Financial Results MOUNTAIN VIEW, Calif., August 8, 2024 -- Iridex Corporation (Nasdaq: IRIX), a worldwide leader providing innovative and versatile laser-based medical systems, delivery devices, and procedure probes for the treatment of glaucoma and retinal diseases, today reported financial results for the second quarter ended June 29, 2024, and provided a business update. Second Quarter 2024 Financial and Recent Highlights • Generated total revenue of $12.6 ...

MOUNTAIN VIEW, Calif., Aug. 05, 2024 (GLOBE NEWSWIRE) -- IRIDEX Corporation ("Iridex", or the "Company") (NASDAQ:IRIX), a worldwide leader providing innovative and versatile laser-based medical systems, delivery devices, and procedure probes for the treatment of glaucoma and retinal diseases, today announced it has executed definitive agreements related to a private placement financing (the "Financing") of a senior convertible promissory note (the "Initial Note") with Lind Global Asset Management IX LLC, an ...

IRIDEX Corporation (NASDAQ:IRIX) Q1 2024 Earnings Conference Call May 14, 2024 5:00 PM ET Company Participants Trip Taylor - Investor Relations David Bruce - Chief Executive Officer Fuad Ahmad - Interim Chief Financial Officer Conference Call Participants Tom Stephan - Stifel Trip Taylor Thank you, and thank you all for participating in today's call. Joining me are David Bruce, Chief Executive Officer; and Fuad Ahmad, Interim Chief Financial Officer. Earlier today, IRIDEX released financial results for the ...

Iridex (IRIX) came out with a quarterly loss of $0.21 per share versus the Zacks Consensus Estimate of a loss of $0.12. This compares to loss of $0.13 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -75%. A quarter ago, it was expected that this medical laser company would post a loss of $0.05 per share when it actually produced a loss of $0.18, delivering a surprise of -260%. Over the last four quarters, the company has surp ...