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IRIDEX Corporation (IRIX)

NasdaqGS - NasdaqGS Real Time Price. Currency in USD
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6.24+0.36 (+6.12%)
At close: 4:00PM EST

6.33 +0.09 (1.44%)
After hours: 5:54PM EST

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Commodity Channel Index

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Previous Close5.88
Open5.97
Bid6.19 x 800
Ask6.22 x 2900
Day's Range5.88 - 6.33
52 Week Range1.22 - 7.20
Volume104,727
Avg. Volume549,773
Market Cap86.721M
Beta (5Y Monthly)1.09
PE Ratio (TTM)N/A
EPS (TTM)-0.56
Earnings DateNov 09, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est6.50
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  • Does IRIDEX's (NASDAQ:IRIX) Share Price Gain of 48% Match Its Business Performance?
    Simply Wall St.

    Does IRIDEX's (NASDAQ:IRIX) Share Price Gain of 48% Match Its Business Performance?

    Passive investing in index funds can generate returns that roughly match the overall market. But you can significantly...

  • IRIDEX Announces Preliminary Operational and Financial Results for Fourth Quarter and Full Year 2020
    GlobeNewswire

    IRIDEX Announces Preliminary Operational and Financial Results for Fourth Quarter and Full Year 2020

    MOUNTAIN VIEW, Calif., Jan. 11, 2021 (GLOBE NEWSWIRE) -- IRIDEX Corporation (Nasdaq: IRIX) today provided preliminary unaudited operational and financial results for the fourth quarter and full year ended January 2, 2021. Fourth Quarter 2020 * Total revenue expected to be $12.2 million to $12.4 million, versus $11.8 million in the fourth quarter of 2019 * Cash and cash equivalents of approximately $11.6 million as of January 2, 2021, representing a net cash burn of $0.3 million in the fourth quarter, and $1.0 million for the full year 2020 * Sold 13,500 Cyclo G6® probes in the fourth quarter of 2020, slightly above the prior year quarter * U.S. sales of Cyclo G6 probes increased by 8% compared to prior year fourth quarter, and set a new quarterly record, despite the continuing impacts of COVID-19 restrictions * Sold 56 Cyclo G6 Glaucoma Laser Systems in the fourth quarter, compared to 105 in the prior year quarter, reflecting COVID-19 impact on capital equipment purchases outside the US, and the Company’s shift to focusing on glaucoma procedure volumes rather than systems placements Full Year 2020 * Total revenue expected to be $36.2 million to $36.4 million, approximately 16% below fiscal year 2019 revenue of $43.4 million. * Sold 45,800 Cyclo G6 probes, compared to 51,500 in the prior year, reflecting the significant midyear impact of COVID 19 on ophthalmic procedure volume * Sold 173 Cyclo G6 Glaucoma Laser Systems compared to 350 in the prior year reflecting a shift in sales focus towards probe adoption and the impacts of COVID-19 on capital purchase volumes worldwide. “As with many other companies, our business was impacted by COVID-19 during 2020, but our strong recovery and improving momentum is evident from the fourth quarter results,” said David I. Bruce, President and CEO of IRIDEX. “Total revenue and Cyclo G6 probe sales exceeded the pre-pandemic levels from the prior year quarter. This was achieved simultaneously with highly focused expense management, resulting in net cash burn of only $1.0 million for the entire year.”Bruce continued, “Product improvements contributed to the strength of our business in both Glaucoma and Retina segments. Release of an improved MicroPulse P3 probe in late 2019 helped drive increased adoption in 2020, leading to quarterly records for Cyclo G6 probes sales in both the third and fourth quarters. Strength in Retina product sales reflected our improved competitive position thanks to several product enhancements released in 2020, including the introduction of the LIO Plus, a Laser Indirect Ophthalmoscope (LIO). Our momentum is expected to continue in the new year, including the launch of a new 810 wavelength laser, the first in a family of new lasers offering substantial savings in manufacturing costs and gross margin improvement,” concluded Bruce.These preliminary results are based on management's initial analysis of operations for the quarter and year ended January 2, 2021 and are subject to completion of the Company’s year-end financial reporting processes, further internal review and audit by the Company's external auditors. About IRIDEX IRIDEX Corporation is a worldwide leader in developing, manufacturing, and marketing innovative and versatile laser-based medical systems, delivery devices and consumable instrumentation for the ophthalmology market. The Company’s proprietary MicroPulse® technology delivers a differentiated treatment that provides safe, effective, and proven treatment for targeted sight-threatening eye conditions. IRIDEX’s current product line is used for the treatment of glaucoma and diabetic macular edema (DME) and other retinal diseases. IRIDEX products are sold in the United States through a direct sales force and internationally primarily through a network of independent distributors into more than 100 countries. For further information, visit the IRIDEX website at www.iridex.com.Safe Harbor Statement This announcement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Act of 1934, as amended, including those statements concerning the demand for and utilization of the Company's products, expectations for growth, and the Company’s unaudited results for the fourth quarter and fiscal year 2020. These statements are not guarantees of future performance and actual results may differ materially from those described in these forward-looking statements as a result of a number of factors. Please see a detailed description of these and other risks contained in our Annual Report on Form 10-K for the fiscal year ended December 28, 2019, and Quarterly Reports on Form 10-Q for subsequent fiscal quarters, each of which was filed with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date and will not be updated.Investor Relations Contact Leigh Salvo (415) 937-5404 investors@iridex.com

  • IRIDEX Announces MicroPulse Transscleral Laser Therapy Now Accepted in the European Glaucoma Society Guidelines
    GlobeNewswire

    IRIDEX Announces MicroPulse Transscleral Laser Therapy Now Accepted in the European Glaucoma Society Guidelines

    * Guidelines provide recommendations on the diagnosis and management of glaucoma within the EU * Nine MicroPulse TLT studies presented at the annual EGS meeting supporting its safety, effectiveness, and versatility in the treatment of glaucomaMOUNTAIN VIEW, Calif., Dec. 22, 2020 (GLOBE NEWSWIRE) -- IRIDEX Corporation (NASDAQ: IRIX), a provider of innovative ophthalmic laser-based medical products for the treatment of glaucoma and retinal diseases, reports that MicroPulse Transscleral Laser Therapy (TLT), which is performed using the IRIDEX Cyclo G6® Laser System and MicroPulse P3® Delivery Device, has been included in the European Glaucoma Society (EGS) Terminology and Guidelines for Glaucoma. The EGS guidelines represent recommendations on the diagnosis and management of glaucoma to standardize practice within the European Union. The new guidelines, the Society’s 5th edition, were presented at the Annual EGS Meeting on December 12-13, 2020.“We are very encouraged with the broadening recognition of MicroPulse TLT in the ophthalmic community,” said David Bruce, CEO, IRIDEX. “Inclusion in the EGS guidelines plus nine papers presented in the Society’s meeting shows the growing adoption of this effective non-incisional therapy for the management of glaucoma disease.”MicroPulse TLT is a non-incisional procedure that substantially reduces intraocular pressure (IOP) for a broad range of glaucoma types and severity. The procedure can be used for primary open-angle, closed-angle, and refractory glaucoma. It’s a repeatable treatment option that can be performed before, during, or after other glaucoma interventions. More than 140,000 patients have been treated with MicroPulse TLT in top ophthalmic hospitals around the globe.Also presented at the EGS meeting, were nine MicroPulse TLT studies. These studies were conducted in several countries which exemplify the continued global expansion of MicroPulse TLT. Featured studies included: * P248: MicroPulse Transscleral Cyclophotocoagulation: Step by Step; Rita Basto, et al. (Poland)  This study represents a 6-month retrospective review of glaucoma patients (38 eyes) treated with MicroPulse TLT. The percentage of IOP reduction was 43.4 ± 16.2% (8.9% - 70.6%). A success rate (defined as >20% IOP reduction and IOP ≤ 21 mmHg) was obtained in 81.6% of cases with no records of serious complications. The authors concluded that MicroPulse TLT is easily performed, can be repeated with good results, is an efficient and safe strategy to reduce IOP, and can be used in a wide spectrum of glaucoma disease. * P350: Use of MicroPulse Transscleral Cyclophotocoagulation in Glaucoma Associated with Penetrating Keratoplasty or KPRO; Consuelo Gajardo Menzel, et al. (Peru) The authors presented 1-year follow-up of MicroPulse TLT in glaucomatous patients with corneal grafts. Patients’ IOP was reduced by an average of 50%, and the authors concluded that MicroPulse TLT in patients with corneal transplants is effective and safe. * P359: Microimpulse Cyclophotocoagulation in Combined Neovascular Glaucoma Treatment; Nazir Khodzhaev, et al. (Russia) This study evaluated a combined treatment of anti-vascular endothelial growth factors (VEGF) injections and MicroPulse TLT in 15 patients (15 eyes) with secondary neovascular glaucoma (NVG). Initial outcomes demonstrated an IOP reduction of approximately 26%, with a reduction in drops from 3.5 to 2.7, concluding that anti-VEGF and MicroPulse TLT are a safe and effective treatment in NVG patients. * 430: Topical Anesthesia for Diode Transscleral MicroPulse Cyclophototherapy; Maria Cecilia Aquino, et al. (Singapore) This study evaluated the use of topical anesthesia and oral paracetamol in a prospective case series of 22 patients receiving MicroPulse TLT. Although a majority of patients experienced moderate pain during treatment, all patients tolerated the entire treatment lasting for 100 seconds without additional peribulbar anesthesia. The post-operative pain in the immediate 24-hours after treatment was unremarkable requiring no oral analgesic medications. Other studies presented: * P043: MicroPulse Transscleral Laser in Children - The Auckland and Singapore Experience; Marcus Tan, et al. (New Zealand) * P211: Short-term Efficacy and Safety of MicroPulse Transscleral Cyclophotocoagulation in Asian Glaucoma Patients; Mi Sun Sung, et al. (South Korea) * P226: Mid-Term Results of Micro-Pulse Transscleral Cyclophotocoagulation with Diode Laser on Treatment of Glaucoma: A Retrospective Analysis; Guido Barosco et al. (Italy) * P245: Outcomes of MicroPulse transscleral cyclophotocoagulation in Patients with Glaucoma – A Case Series; Wojciech Maruszczyk, et al. (Poland) * P485: A Modified MicroPulse Transscleral Cyclophototherapy technique for the Treatment of Refractory Glaucoma; Victor Teck Koh, et al. (Singapore)More information can be found at: www.iridex.com/egs About IRIDEX IRIDEX is a worldwide leader in developing innovative and versatile laser-based medical systems, delivery devices and consumable instrumentation for the ophthalmology market. The Company’s proprietary MicroPulse® technology delivers a differentiated treatment that provides safe, effective, and proven treatment for targeted sight-threatening eye conditions. IRIDEX’s current product line is used for the treatment of glaucoma, diabetic macular edema and other retinal diseases. IRIDEX products are sold in the United States and Germany through a direct sales force and in more than 100 countries through a network of independent distributors. For more information, visit www.iridex.com/MicroPulseP3.Investor Relations Contact Leigh Salvo (415) 937-5404 investors@iridex.comMedia Contact Jamie Hall Pascale Communications, LLC. (724) 417-0167 jamie@pascalecommunications.com