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Iridex Corporation (NASDAQ: IRIX) is a global leader in the development, manufacturing, and marketing of innovative and versatile laser-based medical systems and delivery devices. Founded in 1989, the company specializes in providing advanced medical solutions across multiple specialties, including ophthalmology, aesthetic medicine, and otolaryngology.
Iridex's core products include lasers, laser delivery devices, glaucoma devices, and retinal surgical instruments. The company's proprietary MicroPulse® technology offers a differentiated treatment that is both safe and effective for managing sight-threatening eye conditions. This technology powers many of its products, enhancing their clinical efficacy.
Operating primarily in the ophthalmology segment, Iridex derives its revenue from the sale of consoles, delivery devices, consumables, services, and support activities. The company has a significant presence in the United States, generating maximum revenue from this region, followed by Europe, the Americas excluding the U.S., and Asia/Pacific Rim.
Iridex's recent achievements include successful advocacy for the revision of Medicare Local Coverage Determinations (LCDs) for Cyclophotocoagulation (CPC), which broadened patient qualification criteria. This change aligns the criteria with recommendations from the 2001 American Academy of Ophthalmology paper, thereby expanding access to essential glaucoma treatments.
The company operates with a robust commitment to the success of its customers, offering comprehensive technical, clinical, and service support programs. Iridex products are distributed in over 100 countries, with sales managed through a direct sales force in the United States and a network of independent distributors globally.
Financially, Iridex has faced challenges such as reimbursement uncertainties and supply chain limitations, which impacted its revenue and gross margins. However, the company is actively pursuing strategic reviews to unlock shareholder value and remains focused on expanding its market reach and product offerings.
For more detailed information about Iridex Corporation, please visit their website at www.iridex.com.
Iridex Corporation (Nasdaq: IRIX) reported a 6% increase in full-year revenue to $57 million for 2022, driven by strong sales of its Cyclo G6 glaucoma products. In Q4 2022, total revenue was $15.2 million, with a record 16,400 Cyclo G6 probes sold, up 9% year-over-year. However, retina product revenue declined by 11% to $8.1 million. The company received FDA clearance for new laser systems in late 2022 and early 2023. Despite a net loss of $7.5 million for 2022, with a projected revenue of $57 million to $59 million for 2023, Iridex anticipates growth in Cyclo G6 probe sales between 9% and 12%. Cash reserves stand at $13.9 million.
Iridex Corporation (Nasdaq: IRIX), a leader in ophthalmic laser-based medical products, announced its participation in the 35th Annual Roth Conference in Laguna Niguel, CA. Management will present on March 14, 2023, at 11:00 am PT. Interested individuals can view a live and archived webcast of the presentation on the company's website.
Iridex focuses on innovative treatments for glaucoma and retinal diseases, utilizing its proprietary MicroPulse® technology. The company's products are distributed in over 100 countries, emphasizing their global reach and commitment to addressing serious eye conditions.
Iridex Corporation (NASDAQ: IRIX) announced the publication of Part 2 of the evidence-based guidelines for MicroPulse Transscleral Laser Therapy (TLT) at the 2023 American Glaucoma Society meeting in Austin, Texas. This guide, created by a panel of ten glaucoma experts, covers critical aspects such as anesthesia, surgical technique, and expected outcomes. It builds on Part 1, focusing on dosimetry and patient selection. Attendees can also view Dr. Syril Dorairaj's e-poster on MicroPulse TLT outcomes and demo the Sweep Management Software designed to optimize surgical techniques. Iridex continues to lead in ophthalmic laser-based treatments.
Iridex Corporation (NASDAQ: IRIX) will release its financial results for Q4 and full year 2022 after the market closes on March 9, 2023. The management team will host a conference call at 2:00 PM PT / 5:00 PM ET to discuss the results. Investors can access the live and recorded webcast on the Company’s website. Iridex specializes in innovative ophthalmic laser-based products for treating glaucoma and retinal diseases, utilizing its proprietary MicroPulse® technology. Their products are marketed in the U.S. and over 100 countries worldwide.
Iridex Corporation (Nasdaq: IRIX) announced preliminary financial results for the fourth quarter and full year ended December 31, 2022. Fourth quarter revenue is projected at $15.1 million to $15.3 million, unchanged year-over-year. The company achieved a record sale of 16,400 Cyclo G6 probes, an 8% increase from the previous year. Full year revenue is expected to be between $56.9 million and $57.1 million, reflecting a 6% growth. Cash and equivalents were approximately $13.9 million, with operating cash usage of $1.2 million in Q4.
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