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]
Iridex (IRIX) Reports Q2 Loss, Misses Revenue Estimates