Welcome to our dedicated page for Iridex news (Ticker: IRIX), a resource for investors and traders seeking the latest updates and insights on Iridex stock.
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) announced the appointment of Beverly Huss to its board of directors, effective March 17, 2022. The board size increased from five to six members to accommodate her role. Huss brings over 25 years of experience in the medical device industry, having held leadership roles at Pagonia Medical and Qool Therapeutics. She expressed her commitment to advancing Iridex’s laser-based treatments for glaucoma. Iridex specializes in developing innovative laser technologies for ophthalmic applications, including treatments for glaucoma and retinal diseases.
Iridex Corporation (Nasdaq: IRIX) reported a record fourth quarter revenue of $15.3 million, up 24% year-over-year, driven by strong demand in glaucoma and retina product lines. For the full year, revenue increased 48% to $53.9 million. Gross profit margins slightly declined to 39.3% in Q4, attributed to a higher mix of international system sales. Despite increased operating expenses of 43% to $8.4 million, the net loss narrowed to $2.4 million in Q4. Looking ahead, Iridex projects a revenue forecast of $57-$59 million for 2022, aiming for continued growth.
Iridex Corporation (NASDAQ: IRIX) announced its participation in the 34th Annual Roth Conference, scheduled for March 15, 2022, at 10:00 a.m. PT / 1:00 p.m. ET. The company specializes in innovative ophthalmic laser-based medical products for treating glaucoma and retinal diseases. A live and archived webcast of the presentation will be accessible on the company's website. Iridex is recognized for its MicroPulse® technology, which offers effective treatments for various sight-threatening eye conditions, with products available in over 100 countries.
Iridex Corporation (NASDAQ: IRIX) announced it will release its financial results for Q4 and full year 2021 on March 10, 2022, after market close. A conference call will follow at 2:00 p.m. PT / 5:00 p.m. ET, accessible by dialing (844) 707-0665 for domestic callers or (703) 326-3030 internationally, using conference ID: 1574126. Iridex specializes in innovative ophthalmic laser-based products, particularly for glaucoma and retinal diseases, leveraging its proprietary MicroPulse® technology.
Iridex Corporation (Nasdaq: IRIX) announced strong preliminary results for Q4 2021 and full year 2021, exceeding prior guidance. Q4 revenue is expected to be between $15.1 million and $15.3 million, a 24% increase year-over-year. The full year revenue is projected at $53.7 million to $53.9 million, marking nearly 50% growth from 2020. The company sold 15,200 Cyclo G6® probes in Q4, a 13% increase, and 90 Glaucoma Laser Systems, up from 57 a year prior. Cash and cash equivalents stand at $23.8 million as of January 1, 2022.
Iridex Corporation (Nasdaq: IRIX) announced participation in the 2021 Stifel Virtual Healthcare Conference, scheduled for November 16, 2021, at 2:00 pm ET. David Bruce, President and CEO, will present, and interested parties can access the live and archived webcast at www.iridex.com. Iridex specializes in ophthalmic laser-based medical products targeting glaucoma and retinal diseases, utilizing proprietary MicroPulse technology for effective treatments. Their products are distributed in over 100 countries, enhancing patient care globally.
Iridex Corporation (Nasdaq: IRIX) reported a robust 51% year-over-year revenue growth for Q3 2021, reaching $13.3 million. The gross margin improved to 43.6%, aided by production efficiencies. Despite the positive revenue results, the company experienced a net loss of $2.2 million, which increased compared to the previous year. The revenue guidance for 2021 has been raised to $52 million-$53 million, reflecting a 43%-46% growth, though expectations for Glaucoma Laser System sales have been adjusted downwards.
On November 6, 2021, Iridex Corporation (NASDAQ: IRIX) will host an international expert consensus panel discussing MicroPulse Transscleral Laser Therapy (TLT). The panel aims to provide insights on dosing and patient selection for better treatment outcomes. Key points include fluence, sweep speed, and drivers for patient selection. This event aligns with the upcoming American Academy of Ophthalmology meeting from November 13-15, where Iridex will showcase its innovations and host experts for discussions on the effectiveness of laser therapies for glaucoma and retinal diseases.
Iridex Corporation (NASDAQ: IRIX) will announce its Q3 2021 financial results after market close on November 11, 2021. The management team will conduct a conference call at 2:00 p.m. PT / 5:00 p.m. ET to discuss the results. Interested investors can join the call by dialing (844) 707-0665 domestically or (703) 326-3030 internationally, using conference ID: 7496524. An archived webcast will be accessible on the Investors section of the company's website thereafter.
Iridex Corporation (Nasdaq: IRIX) announced its participation in the Lytham Partners Fall 2021 Investor Conference, scheduled for October 7, 2021, at 11:45 am ET. David Bruce, President and CEO, will present at the conference. A live and archived webcast will be available on the company's website. Iridex specializes in developing innovative ophthalmic laser-based medical products for conditions like glaucoma and retinal diseases, leveraging its proprietary MicroPulse technology.
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