Iridex (IRIX) Reports Strong Preliminary Results for Q4 and Full Year 2025

Overview of Iridex's Financial Performance

Iridex Corporation (Nasdaq: IRIX), a leader in laser-based medical systems and devices for ophthalmology, has announced preliminary unaudited operational and financial results for the fourth quarter and full year ending January 3, 2026. The results indicate significant revenue growth, operational efficiency, and positive cash flow, underscoring the company’s strategic initiatives throughout 2025.

Fourth Quarter 2025 Highlights

Iridex is reporting a noteworthy performance for the fourth quarter of 2025:

• Total revenue is expected to range between $14.6 million and $14.8 million, a year-over-year increase from $12.7 million. This reflects a growth rate of 15% to 17%.
• The company has achieved positive cash flow during the fourth quarter.
• Sales of the Cyclo G6® probes reached 15,800, an increase from 13,300 units sold in the previous year.
• A total of 44 Cyclo G6 Glaucoma Laser Systems were sold, compared to 47 in the prior year quarter.

Full Year 2025 Performance Overview

For the entirety of 2025, Iridex's results show strong growth indicators:

• The anticipated total revenue is between $52.5 million and $52.7 million, rising from $48.7 million in 2024, indicating a year-over-year growth of 8%.
• Iridex is forecasting positive adjusted EBITDA for the year.
• Sales of Cyclo G6® probes reached 57,700, up from 55,400 in the previous year.
• Sales of Cyclo G6® Glaucoma Laser Systems totaled 133, compared to 125 in the prior year.

Management Insights

Patrick Mercer, President and CEO of Iridex, commented: “In 2025, we strengthened our financial position through focused cost reductions, gross margin expansion, and improved commercial efficiency, and increased probe sales. The actions we took drove a fifth consecutive quarter of year-over-year revenue growth, reduced operating expenses, and improved adjusted EBITDA. We achieved positive cash flow in the fourth quarter of 2025, and we expect to achieve positive adjusted EBITDA for the full year 2025.”

Looking Ahead

These preliminary results are based on initial analyses and are subject to finalization through the company's year-end financial reporting processes. Adjustments may occur pending further internal review and audits by external auditors.

About Iridex Corporation

Iridex Corporation is a global leader in innovative laser-based medical systems focused on treating ophthalmic conditions. The company’s MicroPulse® technology offers safe and effective treatments for glaucoma and retinal diseases. Iridex’s products are distributed in more than 100 countries, combining direct sales in the United States with a wide network of independent distributors internationally. For more information, visit www.iridex.com.