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 develops, manufactures, and markets laser-based medical systems, delivery devices, procedure probes, accessories, and consumable instrumentation for ophthalmology. Its products support treatment of glaucoma, diabetic macular edema, and other retinal diseases, with proprietary MicroPulse® technology used across parts of its portfolio.
Iridex news commonly covers quarterly and annual financial results, business updates, product-family activity for systems such as Cyclo G6®, retina laser platforms including PASCAL®, IQ 532®, IQ 577®, and OcuLight® TX, and clinical literature involving MicroPulse transscleral laser therapy. Company updates also address commercial partnerships, U.S. direct sales, international distributor activity, operational efficiency measures, and Nasdaq listing-status matters.
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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.