Iridex Announces Preliminary Operational and Financial Results for Fourth Quarter and Full Year 2025
Rhea-AI Summary
Iridex (NASDAQ: IRIX) reported preliminary unaudited results for the quarter and year ended Jan 3, 2026. Q4 2025 revenue is expected to be $14.6M–$14.8M, up 15%–17% year‑over‑year. The company achieved positive cash flow in Q4 and sold 15,800 Cyclo G6 probes (vs. 13,300 prior year). Full‑year 2025 revenue is expected to be $52.5M–$52.7M (about 8% growth). Iridex expects to achieve positive adjusted EBITDA for 2025. Results remain preliminary and subject to final close and audit.
Positive
- Q4 revenue +15%–17% YoY
- Positive cash flow achieved in Q4 2025
- Cyclo G6 probe sales +18.9% YoY in Q4 (15,800 vs 13,300)
- Company expects positive adjusted EBITDA for full year 2025
Negative
- None.
News Market Reaction
On the day this news was published, IRIX gained 28.70%, reflecting a significant positive market reaction. Argus tracked a peak move of +16.5% during that session. Argus tracked a trough of -7.1% from its starting point during tracking. Our momentum scanner triggered 21 alerts that day, indicating elevated trading interest and price volatility. This price movement added approximately $6M to the company's valuation, bringing the market cap to $26M at that time. Trading volume was exceptionally heavy at 8.3x the daily average, suggesting very strong buying interest.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
IRIX was down 3.36% pre-news with mixed peer moves: TRIB (-0.16%), VVOS (-8.85%) weaker, while ADGM (+1.76%), NSYS (+3.84%), PTHL (+4.91%) gained. No coordinated sector trend evident.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Dec 11 | Clinical study update | Positive | +3.4% | Independent study showed 25%–35% IOP reduction with MicroPulse TLT retreatment. |
| Dec 08 | Scientific study | Positive | -1.7% | Thermal modeling favored MicroPulse TLT’s smaller, cooler treatment zone vs CW-TSCPC. |
| Dec 05 | Investor conference | Neutral | +1.3% | Announcement of Sidoti virtual conference appearance and webcast access details. |
| Nov 11 | Quarterly earnings | Positive | +8.2% | Q3 2025 revenue growth, margin improvements, and guidance toward positive EBITDA. |
| Oct 28 | Earnings call notice | Neutral | +2.0% | Scheduled Q3 2025 results release and conference call details for investors. |
Across the last five news events, price mostly moved in the same direction as the apparent news tone, with one notable divergence on a positive scientific study.
Over recent months, IRIDEX has combined scientific validation with financial progress. Clinical publications around MicroPulse® technology and transscleral laser treatment supported glaucoma use cases in December 2025. Earnings-related updates from Q4 2024 through Q3 2025 emphasized cost reductions, improving adjusted EBITDA, and a path to cash-flow breakeven. The new preliminary Q4 and full-year 2025 figures extend this narrative of revenue growth and operational improvement relative to 2024 results.
Market Pulse Summary
The stock surged +28.7% in the session following this news. A strong positive reaction aligns with IRIDEX’s pattern of favorable responses to earnings updates when they show operational progress. Preliminary Q4 and full-year 2025 figures point to revenue growth over $48.7M in 2024 and confirmation of positive Q4 cash flow. Investors watching prior earnings saw emphasis on adjusted EBITDA improvement, so sustained enthusiasm could depend on final audited results matching these preliminaries.
Key Terms
adjusted EBITDA financial
unaudited financial
glaucoma medical
AI-generated analysis. Not financial advice.
Demonstrating continued revenue growth, operational efficiencies and positive cash flow
MOUNTAIN VIEW, Calif., Jan. 12, 2026 (GLOBE NEWSWIRE) -- Iridex Corporation (Nasdaq: IRIX), a worldwide leader providing innovative and versatile laser-based medical systems, delivery devices, and procedure probes for the treatment of glaucoma and retinal diseases, today announced preliminary unaudited operational and financial results for the fourth quarter and full year ended January 3, 2026.
Fourth Quarter 2025 Results
- Total revenue is expected to be between
$14.6 million and$14.8 million compared to$12.7 million in the prior year quarter, representing year-over-year growth between15% and17% - Achieved positive cash flow in the fourth quarter
- Sold 15,800 Cyclo G6® probes compared to 13,300 in the prior year quarter
- Sold 44 Cyclo G6 Glaucoma Laser Systems, compared to 47 in the prior year quarter
Full Year 2025 Results
- Total revenue is expected to be between
$52.5 million and$52.7 million compared to$48.7 million in 2024, representing year-over-year growth of8% - The company expects to achieve positive adjusted EBITDA in 2025
- Sold 57,700 Cyclo G6® probes, compared to 55,400 in the prior year
- Sold 133 Cyclo G6® Glaucoma Laser Systems compared to 125 in the prior year
“In 2025, we strengthened our financial position through focused cost reductions, gross margin expansion, and improved commercial efficiency, and increased probe sales,” said Patrick Mercer, President and CEO of IRIDEX. “When we set and communicated our goals for 2025, we were clear about what we intended to accomplish—and in 2025 we delivered. The actions we took drove a fifth consecutive quarter of year-over-year revenue growth, reduced operating expenses, and improved adjusted EBITDA. We achieved positive cash flow in the fourth quarter of 2025, and we expect to achieve positive adjusted EBITDA for the full year 2025.”
These preliminary results are based on management's initial analysis of operations for the quarter and year ended January 3, 2026, 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 laser 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. © 2025 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 continued revenue growth, operational efficiencies, positive cash flow, and financial and operating results. 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 further described in the “Risk Factors” section of Iridex’s most recent Annual Report on Form 10-K, as well as in Iridex’s other reports filed with or furnished to the United States Securities and Exchange Commission (“SEC”), available at www.sec.gov. Forward-looking statements contained in this announcement are made as of this date and will not be updated.
Investor Relations Contact
Philip Taylor
Gilmartin Group
investors@iridex.com
FAQ
What revenue did IRIX report for Q4 2025 and how did it compare to Q4 2024?
Did IRIX generate positive cash flow in 2025 and when?
What guidance did IRIX give about adjusted EBITDA for 2025 (IRIX)?
How many Cyclo G6 probes did IRIX sell in Q4 2025 and how does that compare to prior year?
Are the reported IRIX 2025 results final and audited?
