IRIDEX Corporation logo

IRIDEX Corporation

IRIX

NASDAQHealthcareMedical - Devices

Previous close

$0.7561

−$0.0055 · -0.72%

Aug 21, 4:00 PM ET

IRIX company overview

Regular session · ET · Market data may be delayed.

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AI-powered factor overview

Jul 10, 2026

GoAI score

Hold

Wait — insufficient conviction to act

Valuation

67

Undervalued

Momentum

48

Neutral

Sentiment

53

Mixed

Risk resilience

46

Elevated Risk

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Company profile

Company website

IRIDEX Corporation is a medical technology firm specializing in ophthalmology. They develop and supply advanced therapeutic laser systems, various delivery instruments, and essential consumable tools designed to address vision-threatening ocular conditions. Their product portfolio includes several laser consoles, each tailored for specific eye conditions. The Cyclo G6 system is specifically engineered for glaucoma treatment. For ailments like diabetic macular edema and other retinal pathologies, IRIDEX provides the IQ 532 and IQ 577 laser photocoagulation systems. Furthermore, the OcuLight series, encompassing models such as TX, SL, SLx, GL, and GLx, offers solutions for managing severe retinal issues like proliferative diabetic retinopathy, macular holes, and retinal tears or detachments. Beyond laser consoles, the company also manufactures specialized delivery instruments. These include the TxCell scanning laser delivery system, which empowers clinicians with multi-spot pattern scanning capabilities. A unique slit lamp adapter enables practitioners to integrate standard slit lamps into their diagnostic and therapeutic workflows. Additionally, a laser indirect ophthalmoscope is available for interventions targeting peripheral retinal disorders. IRIDEX's offerings extend to various probes. The MicroPulse P3 Probe, when coupled with the Cyclo G6 laser system, facilitates MicroPulse transscleral laser therapy. For managing uncontrolled glaucoma, the G-Probe is employed, while both the G-Probe and G-Probe Illuminate are utilized in procedures addressing refractory glaucoma. The EndoProbe product line supports a range of vitrectomy procedures. Their diverse client base spans ophthalmology professionals, academic and research hospitals, government healthcare facilities, specialized surgical centers, general hospitals, veterinary clinics, and private medical practices. Product distribution is handled via an internal and independent sales network across the United States, supplemented by independent distributors for its international markets. Originally incorporated in 1989 as IRIS Medical Instruments, Inc., the company adopted the name IRIDEX Corporation in November 1995. Its corporate headquarters are situated in Mountain View, California.

Industry
Medical - Devices
Sector
Healthcare
Headquarters
US
CEO
Patrick Mercer
Listed since
Feb 16, 1996
Employees
93

Market position

Day range

Current $0.7561

52-week range

Current $0.7561

Open
$0.7528
Previous close
$0.7616
Volume
146.24K
2.2× average
Average volume
66.44K
Average daily volume
Market cap
13.09M USD
Beta
0.64
Market reference 1
50-day average
$0.9884
-23.50% below average
200-day average
$1.1201
-32.50% below average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
18.61M USD
P/E (TTM)
-3.72×
P/B (TTM)
3.61×
P/S (TTM)
0.25×
EV / EBITDA
-6.57×
Earnings yield
-22.06%
Free cash flow yield
-11.23%
Dividend yield
0.00%

Profitability & efficiency

Gross margin
36.23%
Operating margin
-5.39%
Net margin
-6.88%
Return on equity
-90.15%
Return on assets
-15.22%
Return on invested capital
-15.45%

Financial health

Debt / equity
1.1×
Current ratio
1.91×

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends51%25%-0%-26%Gross margin, FY2021: 42.36%Gross margin, FY2022: 44.53%Gross margin, FY2023: 42.04%Gross margin, FY2024: 40.07%Gross margin, FY2025: 36.65%Operating margin, FY2021: -13.98%Operating margin, FY2022: -13.24%Operating margin, FY2023: -19.29%Operating margin, FY2024: -17.06%Operating margin, FY2025: -4.88%Net margin, FY2021: -9.69%Net margin, FY2022: -13.25%Net margin, FY2023: -18.45%Net margin, FY2024: -18.31%Net margin, FY2025: -8.42%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 42.36%. Gross margin FY2022 44.53%. Gross margin FY2023 42.04%. Gross margin FY2024 40.07%. Gross margin FY2025 36.65%. Operating margin FY2021 -13.98%. Operating margin FY2022 -13.24%. Operating margin FY2023 -19.29%. Operating margin FY2024 -17.06%. Operating margin FY2025 -4.88%. Net margin FY2021 -9.69%. Net margin FY2022 -13.25%. Net margin FY2023 -18.45%. Net margin FY2024 -18.31%. Net margin FY2025 -8.42%.

Income trends

Revenue

52.68M USD+8.23%

Operating income

−2.57M USD+69.03%

Net income

−4.44M USD+50.20%
Income trends across reported periods63.67M USD36.88M USD10.09M USD−16.7M USDRevenue, FY2021: 53.9M USDRevenue, FY2022: 56.97M USDRevenue, FY2023: 51.87M USDRevenue, FY2024: 48.67M USDRevenue, FY2025: 52.68M USDOperating income, FY2021: −7.53M USDOperating income, FY2022: −7.54M USDOperating income, FY2023: −10.01M USDOperating income, FY2024: −8.3M USDOperating income, FY2025: −2.57M USDNet income, FY2021: −5.23M USDNet income, FY2022: −7.55M USDNet income, FY2023: −9.57M USDNet income, FY2024: −8.91M USDNet income, FY2025: −4.44M USDFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 53.9M USD. Revenue FY2022 56.97M USD. Revenue FY2023 51.87M USD. Revenue FY2024 48.67M USD. Revenue FY2025 52.68M USD. Operating income FY2021 −7.53M USD. Operating income FY2022 −7.54M USD. Operating income FY2023 −10.01M USD. Operating income FY2024 −8.3M USD. Operating income FY2025 −2.57M USD. Net income FY2021 −5.23M USD. Net income FY2022 −7.55M USD. Net income FY2023 −9.57M USD. Net income FY2024 −8.91M USD. Net income FY2025 −4.44M USD.
Metric (USD)FY2025FY2024FY2023FY2022FY2021
Revenue52.68M USD48.67M USD51.87M USD56.97M USD53.9M USD
Cost of goods sold33.37M USD29.17M USD30.06M USD31.6M USD31.07M USD
Gross profit19.31M USD19.5M USD21.81M USD25.37M USD22.83M USD
Research and development3.67M USD5.45M USD6.83M USD7.18M USD6.87M USD
Selling, general, and administrative18.13M USD22.36M USD24.99M USD25.74M USD23.5M USD
Operating expenses21.88M USD27.8M USD31.81M USD32.91M USD30.36M USD
Depreciation and amortization1.55M USD1.42M USD2.03M USD1.38M USD803K USD
Operating income−2.57M USD−8.3M USD−10.01M USD−7.54M USD−7.53M USD
Net income−4.44M USD−8.91M USD−9.57M USD−7.55M USD−5.23M USD

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
27%
3 beats, 6 misses, 2 met estimates
Average EPS surprise
-110.11%
11 comparable reports
Latest EPS result
-0.07
Estimate -0.01 · Miss by 600.00%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates-0.01-0.05-0.1-0.14Q1 '25MetQ2 '25MetQ3 '25BeatQ4 '25MissQ1 '26BeatQ2 '26BeatQ3 '26MissQ4 '26Estimate
Q1 2025, reported Mar 27, 2025: actual -0.05, estimate -0.05, surprise 0.00%, Met estimate. Q2 2025, reported May 13, 2025: actual -0.1, estimate -0.1, surprise 0.00%, Met estimate. Q3 2025, reported Aug 12, 2025: actual -0.06, estimate -0.09, surprise +33.33%, Beat. Q4 2025, reported Nov 11, 2025: actual -0.09, estimate -0.02, surprise -350.00%, Miss. Q1 2026, reported Mar 26, 2026: actual -0.01, estimate -0.02, surprise +50.00%, Beat. Q2 2026, reported May 19, 2026: actual -0.03, estimate -0.07, surprise +57.14%, Beat. Q3 2026, reported Aug 18, 2026: actual -0.07, estimate -0.01, surprise -600.00%, Miss. Q4 2026, reported Nov 17, 2026: actual —, estimate -0.04, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates15.33M13.96M12.58M11.21MQ1 '25MissQ2 '25MissQ3 '25BeatQ4 '25MissQ1 '26MissQ2 '26MissQ3 '26MissQ4 '26Estimate
Q1 2025, reported Mar 27, 2025: actual 12.7M USD, estimate 12.8M USD, surprise -0.81%, Miss. Q2 2025, reported May 13, 2025: actual 11.9M USD, estimate 12.1M USD, surprise -1.69%, Miss. Q3 2025, reported Aug 12, 2025: actual 13.57M USD, estimate 13.1M USD, surprise +3.60%, Beat. Q4 2025, reported Nov 11, 2025: actual 12.48M USD, estimate 14.74M USD, surprise -15.31%, Miss. Q1 2026, reported Mar 26, 2026: actual 14.72M USD, estimate 14.74M USD, surprise -0.11%, Miss. Q2 2026, reported May 19, 2026: actual 11.8M USD, estimate 11.91M USD, surprise -0.93%, Miss. Q3 2026, reported Aug 18, 2026: actual 12.57M USD, estimate 13.59M USD, surprise -7.51%, Miss. Q4 2026, reported Nov 17, 2026: actual —, estimate 12.65M USD, surprise —, Comparison unavailable.

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