| Metric | Value ($ M) | Q2 FY26 | Q3 FY25 |
|---|---|---|---|
| Revenue | 12.48 | 8.0% | 7.8% |
| Total Income | 12.48 | 8.0% | 7.8% |
| Expenditure | 13.90 | 4.2% | 3.4% |
| PBT | -1.57 | 61.9% | 18.2% |
| Net Profit | -1.57 | 58.6% | 18.6% |
| OPM | -11.30% | 4.37pp | 4.84pp |
| NPM | -12.60% | 5.28pp | 4.09pp |
| EPS | -0.09 | 50.0% | 25.0% |
Iridex Reports Q3 2025 Revenue of $12.5M, Up 8% YOY
04 May 2026 · 4 May, 7:28 am
Summary
Iridex Corporation reported financial results for the third quarter ended September 27, 2025. Total revenue was $12.5 million, an 8% increase year-over-year. Cyclo G6 product family revenue grew by 13% to $3.5 million, while retina product revenue increased by 4% to $6.7 million. The company reduced operating expenses by 12%. Iridex expects to be adjusted EBITDA positive for the full year 2025 and anticipates sustained cash flow positivity going forward.
Key Highlights
- 1
Iridex generated total revenue of $12.5 million, representing growth of 8% year-over-year compared to $11.6 million in the prior year quarter.
- 2
Cyclo G6® product family revenue was $3.5 million, representing growth of 13% year-over-year compared to $3.1 million in the prior year quarter.
- 3
The company sold 14,900 Cyclo G6 probes compared to 13,600 in the prior year quarter.
- 4
Retina product revenue was $6.7 million, representing growth of 4% year-over-year.
- 5
Operating expenses were reduced by 12% compared to the prior year period.
- 6
The net loss was $1.6 million or $0.09 per share for Q3 2025, compared to a net loss of $1.9 million, or $0.12 per share, in the same period of the prior year.
- 7
Cash and cash equivalents as of September 27, 2025 were $5.6 million.
Management Comments
Patrick Mercer
I am extremely proud of what our team has accomplished in my first year as CEO. Just as we set out to do, for the fourth consecutive quarter, we have achieved year-over-year revenue growth, reduced operating expenses and improved adjusted EBITDA. Our third quarter results represent strength across the business with growth led by G6 probe and Pascal retina laser system sales. Looking ahead, we expect to continue improving the financial performance of our business, in part, by continuing to reduce our costs of operations. As a result of the Company’s much reduced cost structure, we expect to be adjusted EBITDA positive for the full year 2025 and that our balance sheet will support sustained cash flow positivity for Iridex going forward.”
Informational and educational content only. Not investment advice.