Iridex Announces Preliminary Operational and Financial Results for Fourth Quarter and Full Year 2024
Iridex (IRIX) has released preliminary Q4 and full-year 2024 results. Q4 revenue is expected between $12.6-12.7 million, slightly up from $12.5 million in Q4 2023. The company maintained stable Cyclo G6® probe sales at 12,700 units and increased Cyclo G6 Glaucoma Laser Systems sales to 47 units from 35 year-over-year.
Full-year 2024 revenue is projected at $48.6-48.7 million, down from $51.9 million in 2023. Annual Cyclo G6® probe sales decreased to 54,800 from 55,200, while Glaucoma Laser Systems sales declined to 125 from 164 units. The company reports progress in cost restructuring initiatives and achieving positive EBITDA in Q4 2024. A strategic review process with multiple parties remains ongoing.
Iridex (IRIX) ha rilasciato i risultati preliminari per il quarto trimestre e l'anno fiscale 2024. Si prevede che il fatturato del quarto trimestre si attesti tra $12,6-12,7 milioni, leggermente superiore ai $12,5 milioni del quarto trimestre 2023. L'azienda ha mantenuto vendite stabili delle sonde Cyclo G6® a 12.700 unità e ha aumentato le vendite dei Sistemi Laser per Glaucoma Cyclo G6 da 35 a 47 unità su base annua.
Il fatturato per l'intero anno 2024 è stimato tra $48,6-48,7 milioni, in calo rispetto ai $51,9 milioni del 2023. Le vendite annuali delle sonde Cyclo G6® sono diminuite a 54.800 rispetto a 55.200, mentre le vendite dei Sistemi Laser per Glaucoma sono calate a 125 rispetto a 164 unità. L'azienda riporta progressi nelle iniziative di ristrutturazione dei costi e nel raggiungimento di un EBITDA positivo nel quarto trimestre 2024. È in corso un processo di revisione strategica con più parti coinvolte.
Iridex (IRIX) ha publicado resultados preliminares para el cuarto trimestre y el año fiscal 2024. Se espera que los ingresos del cuarto trimestre se sitúen entre $12.6-12.7 millones, ligeramente por encima de los $12.5 millones en el cuarto trimestre de 2023. La empresa mantuvo ventas estables de sondas Cyclo G6® en 12,700 unidades y aumentó las ventas de Sistemas Láser para Glaucoma Cyclo G6 a 47 unidades desde 35 en comparación interanual.
Los ingresos proyectados para todo el año 2024 se estiman en $48.6-48.7 millones, una disminución de los $51.9 millones de 2023. Las ventas anuales de sondas Cyclo G6® cayeron a 54,800 desde 55,200, mientras que las ventas de Sistemas Láser para Glaucoma disminuyeron a 125 desde 164 unidades. La empresa informa sobre progresos en iniciativas de reestructuración de costos y en la consecución de un EBITDA positivo en el cuarto trimestre de 2024. Un proceso de revisión estratégica con múltiples partes sigue en curso.
Iridex (IRIX)가 2024년 4분기 및 전체 연도에 대한 preliminary results를 발표하였습니다. 4분기 수익은 $12.6-12.7 백만으로 예상되며, 2023년 4분기 $12.5 백만에서 약간 증가했습니다. 회사는 Cyclo G6® 프로브 판매를 12,700대로 안정적으로 유지하였고, Cyclo G6 녹내장 레이저 시스템 판매를 전년 대비 35대에서 47대로 증가시켰습니다.
2024년 전체 연도 수익은 $48.6-48.7 백만으로 예상되며, 2023년 $51.9 백만에서 감소할 것으로 보입니다. Cyclo G6® 프로브의 연간 판매량은 55,200대에서 54,800대로 감소하였고, 녹내장 레이저 시스템의 판매는 164대에서 125대로 줄었습니다. 회사는 비용 재구성 이니셔티브에서의 진행 상황과 2024년 4분기 긍정적인 EBITDA 달성에 대해 보고하고 있습니다. 여러 당사자와의 전략적 검토 과정이 계속 진행되고 있습니다.
Iridex (IRIX) a publié des résultats préliminaires pour le quatrième trimestre et l'année fiscale 2024. Le chiffre d'affaires du quatrième trimestre est prévu entre $12,6-12,7 millions, légèrement supérieur à 12,5 millions de dollars pour le quatrième trimestre 2023. La société a maintenu des ventes stables de sondes Cyclo G6® à 12 700 unités et a augmenté les ventes des systèmes laser pour le glaucome Cyclo G6 de 35 à 47 unités d'une année sur l'autre.
Le chiffre d'affaires pour l'ensemble de l'année 2024 est prévu à $48,6-48,7 millions, en baisse par rapport à 51,9 millions de dollars en 2023. Les ventes annuelles de sondes Cyclo G6® ont diminué à 54 800 contre 55 200, tandis que les ventes des systèmes laser pour le glaucome ont chuté à 125 contre 164 unités. L'entreprise rapporte des progrès dans les initiatives de restructuration des coûts et a atteint un EBITDA positif au quatrième trimestre 2024. Un processus de révision stratégique avec plusieurs parties est toujours en cours.
Iridex (IRIX) hat die vorläufigen Ergebnisse für das vierte Quartal und das gesamte Jahr 2024 veröffentlicht. Der Umsatz im vierten Quartal wird zwischen $12,6-12,7 Millionen erwartet, was leicht über den $12,5 Millionen im vierten Quartal 2023 liegt. Das Unternehmen hat die Verkaufszahlen der Cyclo G6®-Sonden mit 12.700 Einheiten stabil gehalten und die Verkaufszahlen der Cyclo G6 Glaukom-Lasersysteme von 35 auf 47 Einheiten im Jahresvergleich erhöht.
Der Umsatz für das gesamte Jahr 2024 wird auf $48,6-48,7 Millionen geschätzt, was einen Rückgang von $51,9 Millionen im Jahr 2023 bedeutet. Der Jahresverkauf von Cyclo G6®-Sonden ging auf 54.800 von 55.200 zurück, während die Verkaufszahlen der Glaukom-Lasersysteme auf 125 von 164 Einheiten gesunken sind. Das Unternehmen berichtet über Fortschritte in den Kostenstrukturierungsinitiativen und über die Erzielung eines positiven EBITDA im vierten Quartal 2024. Ein strategischer Überprüfungsprozess mit mehreren Parteien ist weiterhin im Gange.
- Q4 revenue expected to increase slightly to $12.6-12.7M from $12.5M YoY
- Q4 Glaucoma Laser Systems sales increased to 47 units from 35 YoY
- Achieved positive EBITDA in Q4 2024
- Cost restructuring initiatives improving operational efficiency and margins
- Full-year 2024 revenue declined to $48.6-48.7M from $51.9M in 2023
- Annual Glaucoma Laser Systems sales dropped to 125 from 164 units YoY
- Annual Cyclo G6 probe sales decreased to 54,800 from 55,200 YoY
- Recent headcount reduction implemented
Insights
The preliminary Q4 results reveal a complex financial narrative for IRIX. Total revenue of
The Cyclo G6 product line performance presents mixed signals. While Q4 probe sales remained flat at 12,700 units and system sales increased to 47 units from 35, the annual figures paint a different picture with probe sales down
The ongoing strategic review with multiple parties suggests potential M&A activity, which could be driven by the need for operational scale or market consolidation. The focus on achieving positive EBITDA through cost restructuring, including headcount reduction, indicates a shift from growth to profitability, though this might limit future market expansion capabilities.
The stabilization of Cyclo G6 probe sales in Q4 despite reduced sales personnel indicates strong product market fit and physician adoption. However, the significant drop in annual system placements (125 vs 164) suggests market penetration challenges or possible market saturation in current territories.
The flat probe utilization metrics (12,700 units in Q4) could indicate either market maturity or untapped potential in existing accounts. The 47 new system placements in Q4 represent a positive trend, but the annual decline in placements might signal broader competitive pressures or reimbursement challenges in the glaucoma treatment space.
Looking at the broader medical device landscape, IRIX's focus on operational efficiency rather than market expansion could be a defensive strategy in response to evolving treatment preferences or competitive pressures in the ophthalmology space. The strategic review suggests possible industry consolidation, which could lead to improved market access and resource optimization.
MOUNTAIN VIEW, Calif., Jan. 14, 2025 (GLOBE NEWSWIRE) -- Iridex Corporation (Nasdaq: IRIX), a worldwide leader providing innovative and versatile laser-based medical systems and delivery devices for the treatment of glaucoma and retinal diseases, today announced preliminary unaudited operational and financial results for the fourth quarter and full year ended December 28, 2024.
Fourth Quarter 2024 Results
- The Company’s strategic review remains ongoing with multiple parties
- Total revenue is expected to be between
$12.6 million and$12.7 million compared to$12.5 million in the prior year quarter - Sold 12,700 Cyclo G6® probes compared to 12,700 in the prior year quarter
- Sold 47 Cyclo G6 Glaucoma Laser Systems, compared to 35 in the prior year quarter
Full Year 2024 Results
- Total revenue is expected to be between
$48.6 million and$48.7 million compared to$51.9 million in 2023 - Sold 54,800 Cyclo G6® probes, compared to 55,200 in the prior year
- Sold 125 Cyclo G6® Glaucoma Laser Systems compared to 164 in the prior year
“We remained steadfast in our commitment to achieving positive EBITDA results in Q4 2024 laying the foundation for prioritizing profitability in 2025. Progress with our ongoing cost restructuring initiatives is enhancing our operational efficiency, improving margins, and positioning the company for greater financial strength,” said Patrick Mercer, Iridex's President and CEO. “We are incredibly proud of our sales team for achieving Q4 results that match the performance of the same quarter last year. This accomplishment is especially commendable in light of our recent headcount reduction, a strategic step in our commitment to driving Iridex toward profitability.”
Mr. Mercer added, We remain committed to our strategic review process intended to maximize shareholder value and continue to be in discussion with multiple parties regarding a single or multiple transactions.”
These preliminary results are based on management's initial analysis of operations for the quarter and year ended December 28, 2024, and are subject to the completion of the Company’s year-end financial reporting processes, further internal review, potential adjustments, and audit by the Company's external auditors.
About Iridex Corporation
Iridex Corporation is a worldwide leader in developing, manufacturing, and marketing innovative and versatile laser-based medical systems, delivery devices and consumable instrumentation for the ophthalmology market. The Company’s proprietary MicroPulse® technology delivers a differentiated treatment that provides safe, effective, and proven treatment for targeted sight-threatening eye conditions. Iridex’s current product line is used for the treatment of glaucoma and diabetic macular edema (DME) and other retinal diseases. Iridex products are sold in the United States through a direct sales force and internationally primarily through a network of independent distributors into more than 100 countries. For further information, visit the Iridex website at www.iridex.com.
MicroPulse® is a registered trademark of Iridex Corporation, Inc. in the United States, Europe and other jurisdictions. © 2024 Iridex Corporation. All rights reserved.
Safe Harbor Statement
This announcement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Act of 1934, as amended, including those statements concerning financial and operating results. The Company can provide no assurance that it will complete any value-maximizing transactions on behalf of its stockholders. These statements are not guarantees of future performance and actual results may differ materially from those described in these forward-looking statements as a result of a number of factors. Please see a detailed description of these and other risks contained in our Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on November 12, 2024. Forward-looking statements contained in this announcement are made as of this date and will not be updated.
Media Contact
Joan Staufer
jstauffer@iridex.com
Investor Relations Contact
Philip Taylor
Gilmartin Group
investors@iridex.com
FAQ
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