| Metric | Value ($ M) | Q1 FY26 |
|---|---|---|
| Revenue | 11.80 | 0.8% |
| Total Income | 11.80 | 0.8% |
| Expenditure | 12.12 | 0.2% |
| PBT | -0.47 | 71.9% |
| Net Profit | -0.52 | 69.2% |
| OPM | -2.75% | 1.02pp |
| NPM | -4.44% | 9.73pp |
| EPS | -0.03 | 70.0% |
Iridex Reports Q1 2026 Financial Results; Affirms 2026 Guidance
20 May 2026 · 20 May, 1:47 am
Summary
Iridex Corporation reported its financial results for the first quarter ended April 4, 2026. Total revenue was $11.8 million, a slight decrease compared to $11.9 million in the prior year period. Cyclo G6 product family revenue increased by 14% year-over-year, while retina product revenue decreased. The company's net loss improved to $0.5 million from $1.7 million in the prior year period. Iridex reaffirmed its full-year 2026 revenue guidance of $51 million to $53 million.
Key Highlights
- 1
Iridex reported total revenue of $11.8 million for Q1 2026, compared to $11.9 million in the prior year period.
- 2
Revenue from the Cyclo G6® product family grew by 14% year-over-year to $3.6 million.
- 3
The company sold 15,500 Cyclo G6 probes in Q1 2026, compared to 13,900 in the prior year period.
- 4
Retina product revenue was $5.8 million, compared to $6.6 million in the prior year period.
- 5
Operating expenses decreased by 4% compared to the prior year period.
- 6
Net loss for Q1 2026 was $0.5 million, or $0.03 per share, compared to a net loss of $1.7 million, or $0.10 per share, in the same period of the prior year.
- 7
The company reaffirmed its annual revenue guidance for the full year 2026 of between $51 million and $53 million.
Management Comments
Patrick Mercer
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. 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.
Informational and educational content only. Not investment advice.