IRIDEX Achieves Positive EBITDA for the First Time
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 20 2026
0mins
Source: Yahoo Finance
- Profitability Shift: IRIDEX achieved positive adjusted EBITDA for the first time in 2025, indicating a shift towards sustainable profitability, which is expected to enhance investor confidence and attract more capital.
- Sales Growth: Revenue from the Cyclo G6 product family grew by 14% year-over-year, driven by increased unit sales both domestically and internationally, which will help boost market share and drive future sales growth.
- Cost Control Success: The company successfully reduced operating expenses by 4%, reflecting ongoing cost-efficiency efforts, which will further improve the company's financial health and enhance competitiveness.
- Strategic Partnership Expansion: A new partnership with iPro GPO expands access to IRIDEX's retina laser portfolio to over 1,800 members, potentially driving future sales growth and increasing market influence.
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Analyst Views on IRIX
About IRIX
IRIDEX Corporation is an ophthalmic medical technology company. The Company is developing, manufacturing, and marketing versatile laser-based medical systems, delivery devices and consumable instrumentation. Its MicroPulse Technology and Endpoint Management Technology are used for the treatment of glaucoma and retina disorders. Its laser consoles product consists of Glaucoma, Medical Retina and Surgical Retina. Its glaucoma console line is the Cyclo G6 laser system with MicroPulse technology. Its surgical-retina product line includes its OcuLight TX and OcuLight SLx laser photocoagulation systems. Its medical-retina product line includes its portable IQ 532 and IQ 577 laser systems. Its laser probe products include Glaucoma and Surgical Retina. Probes used in its glaucoma product line include its patented single-use delivery devices-MicroPulse P3, G-Probe, and G-Probe Illuminate. Probes used in its surgical retina product line include its family of single-use EndoProbe handpieces.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
IRIDEX Achieves Positive EBITDA for the First Time
- Profitability Shift: IRIDEX achieved positive adjusted EBITDA for the first time in 2025, indicating a shift towards sustainable profitability, which is expected to enhance investor confidence and attract more capital.
- Sales Growth: Revenue from the Cyclo G6 product family grew by 14% year-over-year, driven by increased unit sales both domestically and internationally, which will help boost market share and drive future sales growth.
- Cost Control Success: The company successfully reduced operating expenses by 4%, reflecting ongoing cost-efficiency efforts, which will further improve the company's financial health and enhance competitiveness.
- Strategic Partnership Expansion: A new partnership with iPro GPO expands access to IRIDEX's retina laser portfolio to over 1,800 members, potentially driving future sales growth and increasing market influence.
See More
IRIDEX Corporation Q1 2026 Earnings Call Insights
- Profitability Outlook: CEO Patrick Mercer stated that IRIDEX is on track to achieve positive cash flow in 2026, despite challenges such as the Iran conflict and supply chain constraints, indicating a sustained focus on profitability and strategic adjustments.
- Sales Dynamics: The company reported Q1 revenue of $11.8 million, with retina system sales declining to $5.8 million while glaucoma probe sales increased, highlighting the impact of product mix changes on revenue, particularly with unfulfilled orders in the Asia and Middle East markets.
- Cost Control Measures: CFO Romeo Dizon reported operating expenses of $5.1 million, with the headquarters relocation expected to reduce fixed costs by approximately $600,000 annually, demonstrating the company's efforts to optimize its cost structure to support future profitability.
- Market Outlook Confirmation: Management reaffirmed full-year revenue guidance of $51 million to $53 million, excluding revenue from the Middle East, reflecting confidence in future growth while also emphasizing potential risks in international markets.
See More
IRIDEX Q1 Earnings Report Analysis
- Earnings Highlights: IRIDEX reported a Q1 GAAP EPS of -$0.03, beating expectations by $0.04, although revenue of $11.8 million fell short of the $11.9 million forecast, indicating resilience amid market fluctuations.
- Adjusted EBITDA: The non-GAAP adjusted EBITDA for Q1 2026 was $0.3 million, down from $0.4 million in Q1 2025, reflecting challenges in cost control while also indicating the company's efforts to optimize operations.
- Cash Flow Status: As of April 4, 2026, the company had cash and cash equivalents of $4.6 million, a decrease of $1.4 million from the previous quarter, highlighting liquidity pressures that may impact future investment decisions.
- Annual Outlook: The company reaffirmed its revenue guidance for 2026 at $51 million to $53 million, factoring in the impact of Middle Eastern conflicts on product delivery timelines, with expected adjusted operating expenses between $19 million and $19.5 million, showcasing a positive outlook for future cash flow.
See More
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- AbbVie's Successful New Drugs: AbbVie's stock has outperformed the Large Cap Pharmaceuticals industry with a 25.9% increase over the past year, successfully navigating the loss of exclusivity for Humira by launching new immunology drugs Skyrizi and Rinvoq, which are expected to support revenue growth in the coming years despite facing some market pressures.
- BHP's Continued Growth: BHP's shares have risen 79.8% over the past year, with a 2% increase in iron ore output in the first half of fiscal 2026, and the company projects annual production between 258-269 million tons, indicating its strategic positioning in the global decarbonization trend.
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IRIDEX Corporation Q4 2025 Earnings Call Highlights
- Significant Revenue Growth: IRIDEX reported total revenue of $14.7 million for Q4 2025, reflecting a 16% year-over-year increase, indicating sustained growth in core product lines, particularly in glaucoma and retina segments, which suggests strong market demand.
- Cost Control Initiatives: The company plans to achieve quarterly savings of $165,000 starting Q1 2026 by relocating certain administrative functions out of California, and expects to reduce annual fixed costs by approximately $600,000 through a planned headquarters relocation, further enhancing profitability.
- Strong Product Sales: In Q4, the glaucoma business sold 15,900 probes and 44 G6 systems, with total probe sales reaching 57,800 and system sales at 133 for the year, demonstrating the market acceptance and growth potential of the Cyclo G6 platform.
- Optimistic Future Outlook: IRIDEX expects 2026 revenue to range from $51 million to $53 million, excluding contributions from the Middle East, indicating a growth potential of 1% to 5%, with management expressing confidence in future cash flows and margin improvements.
See More
IRIDEX (IRIX) Q4 2025 Earnings Call Transcript
See More
IRIDEX Achieves Positive EBITDA for the First Time
- Profitability Shift: IRIDEX achieved positive adjusted EBITDA for the first time in 2025, indicating a shift towards sustainable profitability, which is expected to enhance investor confidence and attract more capital.
- Sales Growth: Revenue from the Cyclo G6 product family grew by 14% year-over-year, driven by increased unit sales both domestically and internationally, which will help boost market share and drive future sales growth.
- Cost Control Success: The company successfully reduced operating expenses by 4%, reflecting ongoing cost-efficiency efforts, which will further improve the company's financial health and enhance competitiveness.
- Strategic Partnership Expansion: A new partnership with iPro GPO expands access to IRIDEX's retina laser portfolio to over 1,800 members, potentially driving future sales growth and increasing market influence.
See More
IRIDEX Corporation Q1 2026 Earnings Call Insights
- Profitability Outlook: CEO Patrick Mercer stated that IRIDEX is on track to achieve positive cash flow in 2026, despite challenges such as the Iran conflict and supply chain constraints, indicating a sustained focus on profitability and strategic adjustments.
- Sales Dynamics: The company reported Q1 revenue of $11.8 million, with retina system sales declining to $5.8 million while glaucoma probe sales increased, highlighting the impact of product mix changes on revenue, particularly with unfulfilled orders in the Asia and Middle East markets.
- Cost Control Measures: CFO Romeo Dizon reported operating expenses of $5.1 million, with the headquarters relocation expected to reduce fixed costs by approximately $600,000 annually, demonstrating the company's efforts to optimize its cost structure to support future profitability.
- Market Outlook Confirmation: Management reaffirmed full-year revenue guidance of $51 million to $53 million, excluding revenue from the Middle East, reflecting confidence in future growth while also emphasizing potential risks in international markets.
See More
IRIDEX Q1 Earnings Report Analysis
- Earnings Highlights: IRIDEX reported a Q1 GAAP EPS of -$0.03, beating expectations by $0.04, although revenue of $11.8 million fell short of the $11.9 million forecast, indicating resilience amid market fluctuations.
- Adjusted EBITDA: The non-GAAP adjusted EBITDA for Q1 2026 was $0.3 million, down from $0.4 million in Q1 2025, reflecting challenges in cost control while also indicating the company's efforts to optimize operations.
- Cash Flow Status: As of April 4, 2026, the company had cash and cash equivalents of $4.6 million, a decrease of $1.4 million from the previous quarter, highlighting liquidity pressures that may impact future investment decisions.
- Annual Outlook: The company reaffirmed its revenue guidance for 2026 at $51 million to $53 million, factoring in the impact of Middle Eastern conflicts on product delivery timelines, with expected adjusted operating expenses between $19 million and $19.5 million, showcasing a positive outlook for future cash flow.
See More
Analyst Blog Highlights Featured Stocks and ETFs
- Microsoft's Strong Performance: Microsoft's shares have outperformed the Zacks Computer Software industry over the past year with a 16.3% increase, driven by robust AI business momentum and widespread adoption of Copilot, which has propelled growth in Productivity and Business Processes revenue, showcasing the company's strategic advantage in cloud infrastructure expansion.
- AbbVie's Successful New Drugs: AbbVie's stock has outperformed the Large Cap Pharmaceuticals industry with a 25.9% increase over the past year, successfully navigating the loss of exclusivity for Humira by launching new immunology drugs Skyrizi and Rinvoq, which are expected to support revenue growth in the coming years despite facing some market pressures.
- BHP's Continued Growth: BHP's shares have risen 79.8% over the past year, with a 2% increase in iron ore output in the first half of fiscal 2026, and the company projects annual production between 258-269 million tons, indicating its strategic positioning in the global decarbonization trend.
- CBL Properties' Outstanding Performance: CBL & Associates Properties' shares have surged 98.4% over the past year, with a market capitalization of $1.33 billion, as management enhances financial flexibility through capital recycling and asset optimization strategies, despite challenges from tenant disruptions and economic slowdowns.
See More
IRIDEX Corporation Q4 2025 Earnings Call Highlights
- Significant Revenue Growth: IRIDEX reported total revenue of $14.7 million for Q4 2025, reflecting a 16% year-over-year increase, indicating sustained growth in core product lines, particularly in glaucoma and retina segments, which suggests strong market demand.
- Cost Control Initiatives: The company plans to achieve quarterly savings of $165,000 starting Q1 2026 by relocating certain administrative functions out of California, and expects to reduce annual fixed costs by approximately $600,000 through a planned headquarters relocation, further enhancing profitability.
- Strong Product Sales: In Q4, the glaucoma business sold 15,900 probes and 44 G6 systems, with total probe sales reaching 57,800 and system sales at 133 for the year, demonstrating the market acceptance and growth potential of the Cyclo G6 platform.
- Optimistic Future Outlook: IRIDEX expects 2026 revenue to range from $51 million to $53 million, excluding contributions from the Middle East, indicating a growth potential of 1% to 5%, with management expressing confidence in future cash flows and margin improvements.
See More
IRIDEX (IRIX) Q4 2025 Earnings Call Transcript
See More
