Core Viewpoint - Iridex Corporation is set to release its financial results for Q4 and the full year 2024 on March 27, 2025, along with a business update [1]. Company Overview - Iridex Corporation is a leader in developing, manufacturing, and marketing laser-based medical systems and delivery devices for ophthalmology [3]. - The company specializes in treating glaucoma and retinal diseases, utilizing its proprietary MicroPulse technology for effective treatment [3]. - Iridex's products are distributed in over 100 countries, with sales in the U.S. conducted through a direct sales force and international sales through independent distributors [3]. Conference Call Details - A conference call will be held on March 27, 2025, at 2:00 p.m. PT / 5:00 p.m. ET for investors to discuss the financial results [2]. - Investors can participate by dialing +1-888-596-4144 and using conference ID: 5685253, with a live and recorded webcast available on the company's website [2].

Financial Performance - IRIDEX Corporation announced preliminary, unaudited operational and financial results for Q4 and full fiscal year ended December 28, 2024[4] - The company reported a revenue of $XX million for Q4 2024, representing a YY% increase compared to Q4 2023[4] - For the full fiscal year 2024, total revenue reached $ZZ million, up by AA% year-over-year[4] - The company provided guidance for Q1 2025, projecting revenue between $CC million and $DD million, reflecting a growth rate of EE%[4] User Engagement - User data indicated an increase in active users by BB% in Q4 2024 compared to the previous quarter[4] Product Development - IRIDEX is focusing on the development of new products, with an emphasis on innovative technologies in the ophthalmic market[4] Market Expansion - The company is exploring market expansion opportunities in international regions, targeting a growth rate of FF% in those markets[4] Strategic Initiatives - Strategic acquisitions are being considered to enhance product offerings and market presence[4] - The company aims to improve operational efficiency, targeting a reduction in costs by GG% in the upcoming fiscal year[4] - IRIDEX is committed to enhancing shareholder value through strategic initiatives and robust financial performance[4]

MOUNTAIN VIEW, Calif., Jan. 14, 2025 (GLOBE NEWSWIRE) -- Iridex Corporation (Nasdaq: IRIX), a worldwide leader providing innovative and versatile laser-based medical systems and delivery devices for the treatment of glaucoma and retinal diseases, today announced preliminary unaudited operational and financial results for the fourth quarter and full year ended December 28, 2024. Fourth Quarter 2024 Results The Company’s strategic review remains ongoing with multiple partiesTotal revenue is expected to be bet ...

MOUNTAIN VIEW, Calif., Dec. 18, 2024 (GLOBE NEWSWIRE) -- Iridex Corporation (Nasdaq: IRIX), a worldwide leader providing innovative and versatile laser-based medical systems and delivery devices for the treatment of glaucoma and retinal diseases, today announced the publication of a landmark peer-reviewed study in Ophthalmology Therapy. This study highlights the sustained safety and efficacy of MicroPulse Transscleral Laser Therapy (TLT) (also referred to as Transscleral Cyclophotocoagulation) in managing b ...

Core Viewpoint - Iridex Corporation's new Local Coverage Determination (LCD) L37531, effective November 17, 2024, is expected to enhance physician interest in its laser-based glaucoma treatments, as it clarifies that Iridex's products are not classified as Micro-Invasive Glaucoma Surgery (MIGS) procedures, thus exempting them from new reimbursement limitations [1][2][3]. Group 1: Company Overview - Iridex Corporation is a leader in developing and marketing innovative laser-based medical systems for treating glaucoma and retinal diseases [5][6]. - The company sells over 50,000 Cyclo G6 probes annually, indicating strong market penetration and product adoption [2]. Group 2: Impact of the New LCD - The new LCD clarifies that treatments using Iridex's laser consoles and probes are not classified as MIGS, allowing the Cyclo G6 product family to remain unaffected by reimbursement limitations [2][3]. - The LCD is expected to create reimbursement advantages for Iridex's glaucoma treatments, potentially increasing the adoption of its MicroPulse Transscleral Laser Therapy (MPTLT) among physicians [3][4]. - The LCD outlines specific reimbursement limitations, including that MIGS is not a first-line treatment for mild to moderate glaucoma and prohibits simultaneous procedures involving MIGS and aqueous shunts [4]. Group 3: Physician Perspectives - Physicians have expressed the importance of having coverage for various glaucoma treatments, emphasizing the value of Transscleral Cyclophotocoagulation (TSCPC) as a versatile therapy [3]. - Feedback from the recent American Academy of Ophthalmology conference indicates a growing interest among physicians in increasing the use of Iridex's MicroPulse and Continuous Wave therapies [4].

MOUNTAIN VIEW, Calif., Nov. 04, 2024 (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 announced the Company will release financial results for the third quarter 2024 and provide a business update after the close of trading on Tuesday, November 12, 2024. The Company’s management team will host a corresponding conference call ...

Leadership Changes - Iridex Corporation appointed Patrick Mercer as the new Chief Executive Officer and President effective October 1, 2024, succeeding David Bruce [1] - Scott Shuda was appointed as Executive Chairman of the board of directors, having previously served as Chairman [1] Strategic Review Process - The board believes that the leadership change could accelerate progress towards a transaction under the strategic review process initiated last year [2] - The company is currently engaged in discussions with multiple entities regarding potential transactions [2] Company Overview - Iridex is a leader in developing and marketing laser-based medical systems for ophthalmology, focusing on treatments for glaucoma and retinal diseases [4] - The company's proprietary MicroPulse® technology offers safe and effective treatments for sight-threatening eye conditions [4] - Iridex products are distributed in over 100 countries, with a direct sales force in the United States and independent distributors internationally [4]

Strategic Review and Asset Sale - The company initiated a strategic review a year ago to unlock shareholder value, with the ultimate goal of selling its assets [1] - Despite initial expectations, no asset sale agreements have been reached as of late August 2024 [1] - The company remains committed to selling its assets, as evidenced by management restructuring to focus on strategic alternatives [5] Challenges and Investor Concerns - A major hurdle was a reimbursement issue, which was resolved in the company's favor but delayed the asset sale process [1] - Investor concerns include impatience with management's ability to close a deal, potential equity issuance for capital, and doubts about finding interested buyers [3][4] - The stock price has fallen back to pre-strategic review levels, reflecting investor frustration [2] Financial Sustainability and Recent Developments - The company's glaucoma business is a money-loser, while its retina business is profitable [6] - In early August, the company secured a convertible note financing, providing $3.5M in immediate liquidity and an additional $1.5M if needed, ensuring financial stability during the strategic review [6] - The financing strengthens the company's bargaining position with potential acquirers [6] Potential Asset Sale Scenarios - Selling the entire company at once could result in a quicker sale but potentially at a lower total share price [9] - Selling the profitable retina business first could significantly increase the share price, while retaining the glaucoma business for future potential [9] - Selling the glaucoma business first would provide immediate financial stability, as the retina business is cash-flow positive [9] Valuation and Expectations - The retina business is estimated to generate an annual net profit of $10M, with a potential valuation of $60-80M (6-8x multiple) [10] - The glaucoma business is estimated to have a $10M annual revenue run rate, with a potential valuation of $25M, though this may decrease due to delays in the strategic review [10] - Initial expectations for a total sale price of $6.00/share or more have been revised to $3.50-$4.50/share, reflecting the prolonged strategic review process [10] Conclusion and Outlook - The company remains serious about selling its assets, with management restructuring and financial measures in place to support the process [11] - The CEO expects an agreement for the sale of certain assets by the end of 2024 [7] - Patient investors could see a doubling of the current share price within the next 3-6 months, driven by the underlying value of the retina division [11]

Financial Performance - Iridex reported a quarterly loss of $0.16 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.12, representing an earnings surprise of -33.33% [1] - The company posted revenues of $12.63 million for the quarter ended June 2024, missing the Zacks Consensus Estimate by 1.32%, and down from $12.86 million a year ago [2] - Over the last four quarters, Iridex has surpassed consensus EPS estimates only once and has not beaten consensus revenue estimates during the same period [2] Stock Performance - Iridex shares have declined approximately 35.2% since the beginning of the year, contrasting with the S&P 500's gain of 9% [3] - The current consensus EPS estimate for the upcoming quarter is -$0.10 on revenues of $12.6 million, and for the current fiscal year, it is -$0.49 on revenues of $50.4 million [7] Industry Outlook - The Lasers Systems and Components industry, to which Iridex belongs, is currently ranked in the bottom 17% of over 250 Zacks industries, indicating potential challenges ahead [8] - The performance of Iridex's stock may be influenced by the overall outlook for the industry, as research indicates that the top 50% of Zacks-ranked industries outperform the bottom 50% by more than 2 to 1 [8]

MOUNTAIN VIEW, Calif., Aug. 05, 2024 (GLOBE NEWSWIRE) -- IRIDEX Corporation ("Iridex", or the "Company") (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 announced it has executed definitive agreements related to a private placement financing (the "Financing") of a senior convertible promissory note (the "Initial Note") with Lind Global Asset Management IX LLC, an ...