Iridex Reports Positive EBITDA Amid Revenue Growth

Iridex ( (IRIX) ) has released its Q1 earnings. Here is a breakdown of the information Iridex presented to its investors.

Iridex Corporation is a global leader in the development and marketing of innovative laser-based medical systems and devices, primarily serving the ophthalmology sector with a focus on treating glaucoma and retinal diseases.

In its first quarter of 2025, Iridex reported a slight increase in total revenue to $11.9 million, compared to $11.8 million in the same period last year. The company also highlighted a significant reduction in operating expenses and a positive adjusted EBITDA, marking a financial turnaround.

Key financial metrics for the quarter included an 8% increase in revenue from the Cyclo G6 product family, driven by higher sales of probes and laser systems. Despite a slight decline in retina product revenue, the company achieved a gross profit of $5.1 million, with a gross margin improvement to 42.5%. Operating expenses were reduced by 32%, contributing to a decreased net loss of $1.7 million compared to $3.5 million in the prior year.

Iridex’s strategic investment of $10 million has strengthened its balance sheet, providing a cash reserve of $7.2 million. The company aims to achieve cash flow breakeven and maintain positive adjusted EBITDA throughout 2025, with revenue generation expected to remain consistent with 2024 levels.

Looking forward, Iridex is optimistic about further operational improvements and exploring new partnerships and distribution opportunities to leverage its global customer base, as stated by its management.