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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), a leader in ophthalmic laser-based medical products, announced its participation in a fireside chat with Stifel's equity research analyst. This discussion is scheduled for December 8, 2022, at 9:00 a.m. PT / 12:00 p.m. ET. The event will be accessible via a live and archived webcast on the Company’s website. Iridex specializes in innovative laser systems for treating glaucoma and retinal diseases, using its proprietary MicroPulse® technology. The Company's products are distributed both in the U.S. and over 100 countries worldwide.
Iridex Corporation (Nasdaq: IRIX) reported a strong third quarter for 2022, achieving record revenue of $14.6 million, a 10% increase from the previous year. The company's gross margin rose to 44.1%, and the Cyclo G6 product family generated $3.5 million in revenue, boosted by 13,680 probes sold. Retina product revenue also increased to $8.8 million, a 13% rise year-over-year. However, the net loss decreased to $1.8 million, or $0.11 per share. The company expects total revenue for 2022 to reach $56 million to $58 million, representing 4% to 8% growth.
Iridex Corporation (NASDAQ: IRIX) will release its third-quarter 2022 financial results on November 10, 2022, after market close. A conference call with management will follow at 2:00 p.m. PT / 5:00 p.m. ET. Investors can access the live and recorded webcast on the Company’s website.
Iridex specializes in innovative ophthalmic laser-based medical products, primarily treating glaucoma and retinal diseases. Their products are distributed in the U.S., Germany, and over 100 other countries.
Iridex Corporation (NASDAQ: IRIX) is showcasing its innovative glaucoma treatment technologies at the 2022 American Academy of Ophthalmology annual meeting. The company introduces the Sweep Management Software for its Cyclo G6 Glaucoma Laser System, enhancing the precision of MicroPulse Transscleral Laser Therapy (TLT). This non-incisional treatment can reduce intraocular pressure by 25% to 45%. Iridex emphasizes its commitment to advancing glaucoma care through educational presentations and demonstrations at booth #5139.
Iridex Corporation (NASDAQ: IRIX) announced its participation in the Inaugural Gilmartin Group Emerging Growth Company Showcase, set for August 31, 2022, at 1:00 p.m. PT / 4:00 p.m. ET. During the virtual event, management will present the company's innovative ophthalmic laser-based medical products aimed at treating glaucoma and retinal diseases. A live webcast of the presentation will be available, with an archived version accessible on the Iridex website for further insights into their MicroPulse® technology and product offerings.
Iridex Corporation (Nasdaq: IRIX) reported a 2% increase in total revenue to $13.8 million for Q2 2022. Despite a 3% decline in Cyclo G6 product revenue to $3.5 million, they sold 48 Glaucoma Laser Systems, slightly up from 47 the previous year. Operating expenses rose by 16% to $8.4 million, contributing to a net loss of $2.2 million or $0.14 per share. The company adjusted its full-year revenue guidance to $56-58 million, down from $57-59 million. Regulatory clearance in China positions them for potential growth.
Iridex Corporation (NASDAQ: IRIX) will release its financial results for Q2 2022 on August 15, 2022, after market hours. A conference call, led by the management team, is scheduled for 2:00 p.m. PT / 5:00 p.m. ET to discuss these results. Investors can participate by registering in advance or by accessing the live webcast on Iridex's website. Iridex is a leader in developing laser-based medical products for ophthalmology, focusing on treatments for glaucoma and retinal diseases, with a strong presence in the U.S. and over 100 countries worldwide.
Iridex Corporation (Nasdaq: IRIX) announced regulatory clearance from China's National Medical Products Administration to market its Cyclo G6® platform for glaucoma treatment. Set to launch in Q3 2022, the Cyclo G6 system, utilizing MicroPulse Transcleral Laser Therapy, aims to address the significant glaucoma issue in China, where an estimated 9.4 million adults suffer from Glaucomatous Optic Neuropathy. This clearance marks a pivotal opportunity for Iridex to expand awareness and adoption of its innovative solutions in a large market.
Iridex Corporation (Nasdaq: IRIX) reported record first quarter revenue of $13.4 million, a 12% increase year-over-year. Key highlights include $3.5 million from Cyclo G6 products and $7.3 million from Retina products, boosted by the PASCAL acquisition. Operating expenses rose by 22% to $8.3 million, contributing to a net loss of $2.4 million or $0.15 per share. The company reiterated its full-year guidance, expecting $57 million to $59 million in total revenue and Cyclo G6 probe sales growth of 15% to 20%.
Iridex Corporation (NASDAQ: IRIX) announced it will release its first quarter 2022 financial results after trading on May 12, 2022. A conference call with management will follow at 2:00 p.m. PT / 5:00 p.m. ET. Iridex is recognized for its innovative ophthalmic laser-based products targeting glaucoma and retinal diseases. The company utilizes proprietary MicroPulse® technology, offering effective treatments for various eye conditions, with products available in the U.S., Germany, and over 100 other countries.
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