Iridex SEC Filings

IRIDEX Corporation is asking stockholders to vote at its annual meeting on June 12, 2026 on three key items: electing five directors, ratifying BPM LLP as independent auditor for fiscal 2026, and approving an advisory Say‑on‑Pay vote on executive compensation.

Holders of 17,395,350 shares of common stock get one vote per share, and holders of 600,000 shares of Series B preferred stock get five votes per share as of the April 17, 2026 record date. The board is currently five members, with Patrick Mercer serving as President, Chief Executive Officer and Chief Operating Officer, and four independent directors chairing committees overseeing audit, compensation, nominations, and strategy.

The proxy details 2025 pay, including total compensation of about $901,900 for Mr. Mercer and incentive bonuses tied to a short‑term plan that paid roughly 99.5% of target based on sales, gross profit and operating goals. Stockholders are encouraged to vote via internet, telephone or mail, and may attend and vote in person in Mountain View, California.

IRIDEX CORP reported that major shareholder Novel Inspiration International Co., Ltd. received 87,949 shares of Common Stock on April 1, 2026. These shares were issued as a quarterly interest payment on a Convertible Promissory Note dated March 19, 2025.

After this stock-for-interest transaction, Novel Inspiration holds a total of 439,432 IRIDEX common shares directly. The Form 4 is filed jointly with Shih-Yao David Lin, who is the sole officer, director and stockholder of Novel Inspiration, but the shares are owned by the company, not by Lin personally.

IRIDEX Corporation, an ophthalmic medical technology company, reports that total revenues reached $52.7 million in fiscal 2025, up from $48.7 million in 2024, while net loss narrowed to $4.4 million from $8.9 million. The company sells laser consoles and single-use probes for glaucoma and retinal diseases, leveraging its MicroPulse and Endpoint Management technologies. It relies heavily on international sales and a strategic distribution partnership with Topcon, while facing macroeconomic pressures, regulatory complexity and supply-chain risks. IRIDEX also entered into a $4.0 million convertible note with Novel Inspiration International, with the option for up to $10.0 million in additional notes, adding new debt and potential future equity dilution.

Iridex Corporation reported improving 2025 results with strong Q4 momentum and a return to positive adjusted EBITDA. Fourth quarter revenue reached $14.7 million, up 16% year over year, driven mainly by higher retina system and glaucoma probe sales, plus an extra selling week. Q4 operating expenses fell 10% to $5.5 million, and net loss narrowed to $0.2 million or $0.01 per share.

For full year 2025, revenue grew to $52.7 million from $48.7 million, while operating expenses declined 22% to $21.8 million. Net loss improved to $4.4 million from $8.9 million, and adjusted EBITDA turned positive at $1.1 million versus a $4.3 million loss in 2024. Gross margin was 37%, down from 40%, reflecting higher manufacturing costs and inventory write-downs. Cash and cash equivalents increased to $6.0 million as of January 3, 2026.

For 2026, Iridex forecasts revenue between $51 million and $53 million, which on a pro forma basis excluding Middle East revenue in 2025 represents 1% to 5% growth. The company plans adjusted operating expenses of $19 million to $19.5 million and expects to generate positive operating cash flow for the full year.

IRIDEX Corporation entered into a new triple net lease for its future corporate headquarters at 5215 Hellyer Avenue in San Jose, California. The leased office space totals approximately 30,784 square feet, with the lease term anticipated to begin on July 1, 2026 or when operations commence.

The initial lease term runs for 90 months, with an option to extend for an additional 60 months at the greater of the existing rent or then-prevailing market rent. Annual minimum rent is approximately $646,464 for the first full lease year and approximately $665,857 for the second, then increases about 3% per year.

Minimum rent is abated for six months after the commencement date, but IRIDEX will pay its share of operating expenses, taxes, and utilities under the triple net structure. The agreement includes customary covenants, indemnities, remedies, and rights related to termination, subleasing, and transfers.

IRIDEX Corp’s Chief Financial Officer, Romeo R. Dizon, reported an open-market purchase of company stock. On March 6, 2026, he bought 1,110 shares of IRIDEX common stock at $1.26 per share. Following this transaction, his direct holdings increased to 121,000 shares.

Dizon Romeo R reported open-market purchase transactions in a Form 4 filing for IRIX. The filing lists transactions totaling 2,200 shares at a weighted average price of $1.34 per share. Following the reported transactions, holdings were 118,690 shares.

IRIDEX Corp’s Chief Financial Officer, Romeo R. Dizon, bought company stock in the open market. On 02/12/2026, he purchased 1,500 shares of IRIDEX common stock at a price of $1.43 per share in a direct transaction.

Following this purchase, Dizon directly beneficially owned 117,690 shares of IRIDEX common stock. The filing records this as an open-market purchase under the standard insider transaction reporting rules.

IRIDEX Corp’s Chief Financial Officer, Romeo R. Dizon, reported an open-market purchase of common stock. On 02/10/2026, he acquired 1,000 shares of IRIDEX common stock at a price of $1.46 per share.

Following this transaction, Dizon directly beneficially owned a total of 116,190 shares of IRIDEX common stock. The filing indicates the ownership is held directly, and the Form 4 was signed on his behalf by attorney-in-fact Nilo De Castro.