Revenue decline and reaffirmed guidance suggest near-term stability but no catalyst. Watch for retina sales recovery in subsequent quarters and cash flow generation per management's positive full-year outlook.
Price Chart
Executive Summary
IRIDEX reported Q1 2026 revenue of $11.8M, down 1% YoY, while net loss improved to $0.5M from $1.7M. The company reaffirmed FY2026 revenue guidance of $51M-$53M and expects positive operating cash flow. Retina sales declined due to supply constraints, partially offset by Cyclo G6 glaucoma probe growth of 14%.
Key Financial Metrics
Key Facts
- Q1 2026 revenue $11.8M vs $11.9M YoY (-1%)
- Net loss $0.5M ($0.03/share) vs $1.7M ($0.10/share) YoY
- Gross margin 40% vs 43% YoY due to tariffs and manufacturing costs
- Cyclo G6 product revenue grew 14% to $3.6M; retina revenue fell 12% to $5.8M
- FY2026 revenue guidance reaffirmed at $51M-$53M; expects positive operating cash flow
- Cash decreased $1.4M to $4.6M, primarily due to normal Q1 compensation timing
Financial Impact
Revenue $11.8M (-1% YoY); net loss improved to $0.5M from $1.7M; adjusted EBITDA $0.3M vs $0.4M
Risk Factors
- International supply constraints and delayed regulatory approvals weighing on retina sales
- Tariff impact on gross margins (40% vs 43% YoY)
- Cash burn of $1.4M in Q1; full-year positivity depends on execution
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-230774 |
| Document: irix-20260519.htm | 0001193125-26-230774 |
| Document: 0001193125-26-230774-index-headers.html | 0001193125-26-230774 |
| Document: 0001193125-26-230774-index.html | 0001193125-26-230774 |
| Document: 0001193125-26-230774.txt | 0001193125-26-230774 |
| 8-K Data (Synthetic) | 0001193125-26-230774 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 18, 2026 10w ago | 8-K | $0.7829 $0.6517 | ▲ +16.76% | ▲ +14.81% | $0.7402 (+5.45%) |
Aug 18, 2026 10w ago | Press Release | $0.7829 $0.6517 | ▲ +16.76% | ▲ +14.81% | $0.7402 (+5.45%) |
Jul 16, 2026 14w ago | 8-K | $0.9510 $0.8241 | ▲ +13.34% | ▲ +16.96% | $0.7402 (+22.17%) |
May 19, 2026 23w ago | 8-K | $1.00 $1.13 | ▲ +13.00% | ▲ +12.26% | $0.7402 (−25.98%) |
Apr 24, 2026 26w ago | DEFA14A | $1.08 $1.04 | ▼ −3.70% | ▼ −8.66% | $0.7402 (−31.46%) |
Apr 7, 2026 29w ago | Press Release | $1.03 $1.05 | ▲ +1.94% | ▼ −6.60% | $0.7402 (−28.14%) |
Mar 26, 2026 30w ago | Press Release | $0.9900 $1.08 | ▲ +9.09% | ▼ −3.65% | $0.7402 (−25.23%) |
Mar 12, 2026 32w ago | Press Release | $1.30 $1.03 | ▼ −20.77% | ▼ −24.36% | $0.7402 (−43.06%) |
US Market Status
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