Business
Iridex Reports First Quarter 2026 Financial Results
2026 Guidance Affirmed MOUNTAIN VIEW, Calif., May 19, 2026 (GLOBE NEWSWIRE) -- Iridex Corporation (Nasdaq: IRIX), a worldwide leader providing innovative and
About this update from Iridex Corporation
[{"type":"text","content":"2026 Guidance Affirmed\nMOUNTAIN VIEW, Calif., May 19, 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 reported financial results for the first quarter ended April 4, 2026. First Quarter 2026 Financial Highlights Generated total revenue of $11.8 million, compared to $11.9 million in the prior year periodCyclo G6® product family revenue was $3.6 million, representing growth of 14% year-over-year compared to $3.2 million in the prior year period Sold 15,500 Cyclo G6 probes compared to 13,900 in the prior year periodSold 24 Cyclo G6 Glaucoma Laser Systems compared to 24 in the prior year period Retina product revenue was $5.8 million compared to $6.6 million in the prior year periodReduced operating expenses by 4% compared to the prior year period “Looking back at the first quarter of 2026, I am encouraged by our execution across the business as first quarter results were in line with our expectations, building the foundation for a cash flow positive fiscal year,” said Patrick Mercer, President and CEO of Iridex. “Our U.S. glaucoma business delivered solid growth, and our cost structure improvements are flowing through as planned. We remain confident in our ability to deliver on the priorities we’ve outlined: expanding G6 utilization, advancing regulatory approvals, and continuing to drive gross margin improvement.” First Quarter 2026 Financial ResultsTotal revenue for the three months ended April 4, 2026 was $11.8 million, representing a decline of 1% compared to the first quarter of 2025. The decrease in revenue was primarily driven by a decrease in retina system sales, partially offset by increases in glaucoma probe sales and service and other revenues. Total retina product revenue was $5.8 million compared to $6.6 million in the prior year period. The decrease was primarily due to international supply constraints and delayed regulatory approvals, offset by strength in U.S. retina sales. Total product revenue from the Cyclo G6 product family was $3.6 million, representing growth of 14% compared to $3.2 million in the prior year period. Other revenue increased $0.2 million to $2.3 million, driven primarily by an increase in service revenue. ...