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IRIDEX Corporation(IRIX)Earnings, Financials & Key Ratios
IRIX•NASDAQ
$1.13
Price updated Jun 27, 2026
AboutIRIDEX 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 photocoagulation systems, which are used for the treatment of diabetic macular edema and other retinal diseases; 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 TxCell scanning laser delivery system that allows the physician to perform multi-spot pattern scanning; slit lamp adapter, which allows the physician to utilize a standard slit lamp in diagnosis and treatment procedures; and laser indirect ophthalmoscope for use in procedures to treat peripheral retinal disorders. It offers MicroPulse P3 Probe, which is used with its Cylco G6 laser system to perform MicroPulse transscleral laser therapy; G-Probe, which is used in procedures to treat uncontrolled glaucoma; G-Probe and G-Probe Illuminate, which are used in procedures to treat refractory glaucoma; and EndoProbe family of products for use in vitrectomy procedures. The company serves ophthalmologists, research and teaching hospitals, government installations, surgical centers, hospitals, veterinary practices, and office clinics. It markets its products through direct and independent sales force in the United States, as well as through independent distributors internationally. 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.Show more
- Revenue$53M+8.2%
- EBITDA-$1M+85.1%
- Net Income-$4M+50.2%
- EPS (Diluted)-0.26+51.9%
- Gross Margin36.65%-8.5%
- EBITDA Margin-1.94%+86.2%
- Operating Margin-4.88%+71.4%
- Net Margin-8.42%+54.0%
- ROE-126.43%+17.6%
IRIX Price & Volume
IRIDEX Corporation (IRIX) stock price & volume — 10-year historical chart
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Persistent Operating Losses Threaten Long-term Solvency
Investment Thesis • Updated 2026Q1
VerdictNegative: The company's persistent inability to achieve positive operating income
Growth:Mixed
Profitability:Negative
Financial Position:Vulnerable
Cash Flow:Burning
Primary Risk:Liquidity and capital constraints
"IRIDEX faces a challenging path to profitability as it struggles to maintain consistent revenue growth, which contracted to -0.8% in 2026Q1. The company's reliance on debt financing, evidenced by a debt-to-equity ratio that climbed to 0.90, combined with a shrinking equity base of $4.7M, suggests significant financial distress. Investors should monitor the company's ability to stabilize its volatile gross margins, which fluctuated between 32.1% and 44.0%, before considering any long-term exposure."
Verdict Logic
coupled with a dwindling cash buffer of $4.6M as of 2026Q1, presents an elevated risk of shareholder dilution.
IRIX Growth Metrics
IRIDEX Corporation (IRIX) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years2.35%
5 Years7.7%
3 Years-2.58%
TTM7.73%
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM54.08%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM55.85%
Return on Capital
10 Years-30.28%
5 Years-31.19%
3 Years-35.28%
Last Year-18.03%
IRIX Recent Earnings
IRIDEX Corporation (IRIX) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 4/12 qtrs (33%)●Beat Revenue 2/12 qtrs (17%)
Q2 2026Latest
May 19, 2026Metric
Actual
Est
EPS
$0.03+57.1%
$0.07
Rev
$12M-0.9%
$12M
Q2 2026
Mar 26, 2026Metric
Actual
Est
EPS
$0.01+50.0%
$0.02
Rev
$15M-0.1%
$15M
Q4 2025
Nov 11, 2025Metric
Actual
Est
EPS
$0.09-350.0%
$0.02
Rev
$12M-15.3%
$15M
Q3 2025
Aug 12, 2025Metric
Actual
Est
EPS
$0.06+33.3%
$0.09
Rev
$14M+3.6%
$13M
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | May 19, 2026 | $0.03vs $0.07+57.1% | $12Mvs $12M-0.9% |
| Q2 2026 | Mar 26, 2026 | $0.01vs $0.02+50.0% | $15Mvs $15M-0.1% |
| Q4 2025 | Nov 11, 2025 | $0.09vs $0.02-350.0% | $12Mvs $15M-15.3% |
| Q3 2025 | Aug 12, 2025 | $0.06vs $0.09+33.3% | $14Mvs $13M+3.6% |
Based on last 12 quarters of dataView full earnings history →
Peers Comparison
Key metrics vs top competitors for IRIDEX Corporation (IRIX)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $1.13 | $19.67M | -4.35 | 8.23% | -8.42% | -126.43% | — | |
| $1.71 | $29.29M | -1.68 | 131.96% | -268.71% | -4407.08% | — | |
| $0.29 | $34.77M | -18.86 | 2.68% | -10.76% | -77.48% | — | |
| $144.42 | $8.45B | -44.03 | 32.33% | -34.34% | -26.46% | — | |
| $30.18 | $1.53B | -125.75 | 14.88% | -0.83% | -0.95% | — | |
| $178.43 | $12.78B | 31.58 | 0.9% | 10.5% | 10.7% | — |
Compare IRIX vs Peers
IRIDEX Corporation (IRIX) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
IRIX SEC Filings & Documents
IRIDEX Corporation (IRIX) SEC filings — annual & quarterly reports (10-K, 10-Q)
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IRIX Frequently Asked Questions
IRIDEX Corporation (IRIX) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
What is IRIDEX Corporation's revenue?
IRIDEX Corporation (IRIX) reported $52.6M in revenue for fiscal year 2025. This represents a 324% increase from $12.4M in 1996.
How fast is IRIDEX Corporation growing?
IRIDEX Corporation (IRIX) grew revenue by 8.2% over the past year. This is steady growth.
Is IRIX profitable?
IRIDEX Corporation (IRIX) reported a net loss of $3.3M for fiscal year 2025.
Dividend & Returns
What is IRIX's return on equity?
IRIDEX Corporation (IRIX) has a return on equity (ROE) of -126.4%. Negative ROE indicates the company is unprofitable.
What is IRIDEX Corporation's free cash flow?
IRIDEX Corporation (IRIX) had negative free cash flow of $2.5M in fiscal year 2025, likely due to heavy capital investments.