Core Insights - Iridex Corporation reported a return to year-over-year revenue growth and achieved positive adjusted EBITDA for the first two quarters of 2025, indicating a transformation in operations [3][7] - The company aims to achieve cash flow breakeven and positive adjusted EBITDA in 2025, maintaining revenue generation consistent with 2024 [10] Financial Performance - Total revenue for Q1 2025 was $11.9 million, slightly up from $11.8 million in Q1 2024 [4][9] - Retina product revenue decreased by 3% to $6.6 million, while Cyclo G6 Glaucoma product revenue increased by 8% to $3.2 million [4][9] - Gross profit for Q1 2025 was $5.1 million, representing a gross margin of 42.5%, an increase from 37.9% in Q1 2024 [5] - Operating expenses were reduced by 32% to $5.3 million compared to $7.8 million in Q1 2024 [5][9] - The net loss for Q1 2025 was $1.7 million, or $0.10 per share, an improvement from a net loss of $3.5 million, or $0.21 per share, in the same period of the prior year [7][9] Strategic Developments - The company received a strategic investment of $10 million from Novel Inspiration, which helped to strengthen its balance sheet and settle a note payable [8][9] - Iridex is exploring additional partnerships and distribution agreements to leverage its global customer base [3]