IRIDEX Corp (NAS:IRIX)

Q1 2026 IRIDEX Corp Earnings Call Transcript

May 19, 2026 / 09:00 PM GMT

Release Date Price: $1.05 (+3.45%)

Transcript 10-Q8-K

Key Points

Positve

IRIDEX Corp (IRIX) achieved positive adjusted EBITDA for the first time in its recent history in 2025, indicating a shift towards sustainable profitability.
The company reported a 14% year-over-year growth in the Cyclo G6 product family revenue, driven by increased unit sales both domestically and internationally.
IRIDEX Corp (IRIX) successfully reduced operating expenses by 4% compared to the prior-year period, reflecting ongoing cost-efficiency efforts.
The company is on track to relocate its headquarters, which is expected to reduce its fixed cost base by approximately $600,000 annually.
A new partnership with iPro GPO expands access to IRIDEX Corp (IRIX)'s retina laser portfolio to over 1,800 members, potentially driving future sales growth.

Negative

Revenue for the first quarter of 2026 was essentially flat year-over-year, at $11.8 million compared to $11.9 million in the prior year.
The company faced international headwinds, including supply disruptions and regulatory delays, particularly impacting revenue in Asia and the Middle East.
Gross margin decreased to 40% from 43% in the prior-year period, primarily due to increased manufacturing costs and recent tariff developments.
IRIDEX Corp (IRIX) experienced a backlog of approximately $800,000 in the retina segment due to regulatory and supply chain issues.
The company reported a net loss of $0.5 million for the first quarter of 2026, although this was an improvement from a $1.7 million loss in the same period of the prior year.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

IRIX.OQ - IRIDEX Corp
Q1 2026 IRIDEX Corp Earnings Call
May 19, 2026 / 09:00PM GMT

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Presentation
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Unidentified_1 [1]
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Thank you for standing by and welcome to Iridex's first quarter 2026 earnings conference call. I'd like to remind everyone that this call is being recorded and all lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question-and-answer session. If you would like to ask a question during this time, simply press star followed by the number one on your telephone keypad.

If you would like to withdraw your question, press star one again. Thank you. I would now like to turn the call over to Tripp Taylor, Investor Relations. Please go ahead.

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Unidentified_2 [2]
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