Business
Iridex Announces Preliminary Operational and Financial Results for Fourth Quarter and Full Year 2021
Exceeds Prior Guidance with Record Quarterly Revenue and nearly 50% Full Year Revenue Growth MOUNTAIN VIEW, Calif., Jan. 11, 2022 (GLOBE NEWSWIRE) -- Iridex
About this update from Iridex Corporation
[{"type":"text","content":"Exceeds Prior Guidance with Record Quarterly Revenue and nearly 50% Full Year Revenue Growth\nMOUNTAIN VIEW, Calif., Jan. 11, 2022 (GLOBE NEWSWIRE) -- Iridex Corporation (Nasdaq: IRIX) today provided preliminary unaudited operational and financial results for the fourth quarter and full year ended January 1, 2022. Fourth Quarter 2021 Total revenue expected to be $15.1 million to $15.3 million, approximately 24% revenue growth over $12.3 million reported for the fourth quarter of 2020Cash and cash equivalents of approximately $23.8 million as of January 1, 2022, representing a net cash burn of $1.8 million in the fourth quarter, and $5.3 million for the full year 2021Sold 15,200 Cyclo G6® probes in the fourth quarter of 2021, 13% above the prior year quarterSold 90 Cyclo G6® Glaucoma Laser Systems in the fourth quarter of 2021, compared to 57 in the prior year quarter Full Year 2021 Total revenue expected to be $53.7 million to $53.9 million, compared to 2020 revenue of $36.3 millionSold 58,200 Cyclo G6® probes, compared to 45,800 in the prior yearSold 243 Cyclo G6® Glaucoma Laser Systems compared to 174 in the prior year “Throughout 2021 our team continued to deliver strong results, despite the underlying challenges posed by the ongoing pandemic, leading to revenue growth of nearly 50% year over year,” said David I. Bruce, President and CEO of Iridex. “Our commitment to investing in sales and marketing, securing broader distribution partnerships and key product line enhancements were all important components of our success in 2021, and positions us well for further advancements in 2022. We strongly believe there is a tremendous opportunity to expand our core markets as we continue to drive adoption of our MicroPulse technology for patients suffering from moderate-to-severe glaucoma and retinal disease.” These preliminary results are based on management's initial analysis of operations for the quarter and year ended January 1, 2022 and are subject to completion of the Company’s year-end financial reporting processes, further internal review, potential adjustments and audit by the Company's external auditors. About IridexIridex 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 mark...