Iridex Q2 revenue falls as retina sales decline
Iridex Q2 revenue falls as retina sales decline
Overview
Laser medical systems maker's Q2 revenue fell 7% yr/yr on weaker retina product sales
Glaucoma product revenue rose 19% yr/yr, offsetting some retina weakness
Company reaffirmed full-yr 2026 revenue guidance of $51 mln to $53 mln
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 plans higher inventory spending to secure supply chains during headquarters move
Result Drivers
GLAUCOMA GROWTH - Cyclo G6 probe sales rose about 35%, lifting glaucoma product revenue 19% yr/yr, per CEO Patrick Mercer
RETINA WEAKNESS - Retina product revenue declined due to disruptions in the Middle East and reduced sell-through in China, according to the company
COST CONTROLS - Lower general and administrative expenses contributed to a 5% drop in operating expenses, supporting positive operating cash flow
Company press release: ID:nGNX3Whx3q
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue | Miss | $12.60 mln | $13.59 mln (1 Analyst) |
Q2 Loss Per Share |
| $0.07 |
|
Q2 Net Loss |
| $1.30 mln |
|
Q2 Operating Expenses |
| $5.30 mln |
|
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 212.5% above its August 17 closing price of $0.88
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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.)