Iridex Q1 revenue falls 1%, loss narrows

IRIDEX

19/05/2026 21:14

Overview

US laser medical systems maker's Q1 revenue declined 1% yr/yr

Loss per share narrowed to $0.03 from $0.10

Company reaffirmed full-year revenue guidance and expects positive cash flow for 2026

Outlook

Iridex reaffirms 2026 revenue guidance of $51 mln to $53 mln

Company expects 2026 adjusted operating expenses of $19 mln to $19.5 mln

Iridex expects positive operating cash flow for full year 2026

Result Drivers

RETINA SALES DECLINE - Lower retina product revenue driven by international supply constraints and delayed regulatory approvals, partially offset by strength in U.S. retina sales

GLAUCOMA PROBE GROWTH - Cyclo G6 product family revenue rose 14% yr/yr, with higher probe sales supporting results

HIGHER COSTS - Gross margin decreased to 40% from 43% due to higher manufacturing costs and increased product costs related to recent tariff developments during transition to lower-cost contract manufacturers

Company press release: ID:nGNX2tr6cn

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Slight Miss*
$11.8 mln
$11.91 mln (1 Analyst)
Q1 EPS
-$0.03
Q1 Net Income
-$524,000
Q1 Gross Profit
$4.74 mln
Q1 Operating Expenses
$5.1 mln


*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

The one available analyst rating on the shares is "buy"

The average consensus recommendation for the advanced medical equipment & technology peer group is "buy"

Wall Street's median 12-month price target for IRIDEX Corp is $2.75, about 170.9% above its May 18 closing price of $1.02

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)