Financial Data and Key Metrics Changes - Total revenue for Q1 2024 was $11.8 million, down $1.9 million from the prior year period, primarily due to loss of royalty revenue and continued softness in capital equipment purchases [34][38] - Gross profit for Q1 2024 was $4.5 million, compared to $5.9 million in the prior year, with a gross margin of 37.9%, down from 43.3% [21][22] - The net loss for Q1 2024 was $3.5 million or $0.25 per share, compared to a net loss of $2.1 million or $0.13 per share for the same period in 2023 [22] Business Line Data and Key Metrics Changes - In the glaucoma segment, Cyclo G6 revenue was $3.0 million, down from $3.7 million in Q1 2023, with 13,300 G6 probes sold, representing a 4% sequential growth from Q4 2023 [6][9] - Retina product revenue was $6.8 million, a decrease of 6% compared to Q1 2023, driven by lower medical and surgical system sales, partially offset by higher PASCAL system revenue [7][20] Market Data and Key Metrics Changes - The company experienced longer sales cycles and capital equipment purchase deferrals, impacting overall revenue [5][34] - There was a noted softness in U.S. probe sales, with concerns over potential reimbursement changes affecting new system purchases [32][41] Company Strategy and Development Direction - The company is focused on executing business line growth strategies to drive adoption of both retina and glaucoma technologies, with a refreshed product portfolio generating customer interest [14][15] - IRIDEX is actively engaged in a strategic review process, exploring potential transactions to unlock value for stockholders [29][13] Management Comments on Operating Environment and Future Outlook - Management acknowledged ongoing market headwinds but expressed confidence in the company's strong market position and the potential for revenue recovery driven by stabilized reimbursement for glaucoma procedures [15][17] - There are expectations for continued improvement in environmental factors affecting the business, with indications of firming orders in the second quarter [31][17] Other Important Information - Operating expenses in Q1 2024 were $7.8 million, down from $8.3 million in the same period last year, due to planned cost reduction initiatives [37] - Cash and cash equivalents totaled $5.4 million as of March 30, 2024, with a net cash reduction of $1.6 million in the quarter [38] Q&A Session Summary Question: Inquiry about future potential transactions and M&A appetite - Management confirmed that discussions with other parties are ongoing following the termination of a previous asset sale process, focusing on uncovering strategic value [24] Question: Clarification on G6 probe utilization and international strength - Management noted strength in international sales of G6 probes, with a stabilization in U.S. probe sales, but acknowledged lingering concerns over reimbursement affecting new adoption [25][27] Question: Outlook for 2024 revenue guidance - Management indicated that while they are not providing specific revenue guidance, there is an expectation of recovery and growth if current trends continue [43][45] Question: Cash balance and accounts payable outlook - Management expects cash burn to be materially lower in 2024 compared to 2023, with a typical cash usage of $1.5 million to $2 million per quarter [48][49]

Iridex (IRIX) came out with a quarterly loss of $0.21 per share versus the Zacks Consensus Estimate of a loss of $0.12. This compares to loss of $0.13 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -75%. A quarter ago, it was expected that this medical laser company would post a loss of $0.05 per share when it actually produced a loss of $0.18, delivering a surprise of -260%. Over the last four quarters, the company has surp ...

Exhibit 99.1 Iridex Reports First Quarter 2024 Financial Results MOUNTAIN VIEW, Calif., May 14, 2024 -- 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 March 30, 2024, and provided a business update. First Quarter 2024 Financial Highlights "We saw some of the firming we expected during the ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington D.C. 20549 FORM 10-K (Mark One) ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File Number 0-27598 IRIDEX CORPORATION (Exact name of Registrant as specified in its charter) Delaware 77-0210467 (State or other jurisdiction of in ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 0-27598 IRIDEX CORPORATION (Exact name of registrant as specified in its charter) Delaware 77-0210467 (State or other jurisdict ...

Education and Training • Expanding peer-reviewed publications • Seminars/webinar/wetlabs • KOL support • IRIDEX-sponsored clinical trials • Social media outreach Product Enhancements 6 • Commercial rollout of enhanced probe tip • Technique and protocol simplification focus 11 S a l e s C yc l e : F o c u s i n g o n E x i s t i n g + N e w C u s t o m e rs GLAUCOMA SPECIALIST PHYSICIAN EDUCATION Validation Conversion Commitment to Benefits Targeting HANDS-ON TRAINING 12 Key Takeaways Significant market oppo ...

IRIDEX Corporation (NASDAQ:IRIX) Q4 2022 Earnings Conference Call March 9, 2023 5:00 PM ET Company Participants Philip Taylor - Investor Relations, Gilmartin Group David Bruce - President and CEO Fuad Ahmad - Interim Chief Financial Officer Conference Call Participants Scott Henry - ROTH Capital Tom Stephan - Stifel Operator Good day, and thank you for standing by. Welcome to the Fourth Quarter 2022 IRIDEX Conference Call. At this time, all participants are in a listen-only mode. After the speakers' present ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington D.C. 20549 FORM 10-K (Mark One) ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITY EXCHANGE ACT OF 1934 For the transition period from to . Commission File Number 0-27598 IRIDEX CORPORATION (Exact name of Registrant as specified in its charter) | Delaware | | | 77-0210467 | | --- | --- | --- | --- | | (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) | | | | | 1212 Terra Bella Avenu ...

IRIDEX Corporation (NASDAQ:IRIX) Q3 2022 Results Conference Call November 10, 2022 5:00 PM ET Company Participants David Bruce - Chief Executive Officer Fuad Ahmad - Interim Chief Financial Officer Conference Call Participants Scott Henry - ROTH Capital Operator Good day, and thank you for standing by. Welcome to the IRIDEX Third Quarter 2022 Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-andanswer session [Operator Instr ...

IRIDEX Corporation (NASDAQ:IRIX) Q2 2022 Earnings Conference Call August 15, 2022 5:00 PM ET Company Participants Leigh Salvo - Investor Relations David Bruce - Chief Executive Officer Fuad Ahmad - Interim Chief Financial Officer Conference Call Participants Tom Stephan - Stifel Scott Henry - ROTH Capital Operator Good day and thank you for standing by. Welcome to the IRIDEX Second Quarter 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentati ...