Iridex Corporation (IRIX) reported a 23.8% decline in shares since its earnings announcement for the quarter ending January 3, 2026, underperforming the S&P 500 index’s 3.9% drop during the same period. The fourth quarter showed a net loss of $0.01 per share, better than the previous year’s loss of $0.05 per share, despite a revenue increase to $14.7 million, marking a 16% year-over-year rise.
Fourth-quarter gross profit was $5.5 million, with a margin of 37%, down from 44% a year prior. Revenue drivers included a 22% increase in retina product sales to $8.9 million and a 15% rise in glaucoma product sales to $3.8 million. For the full year, revenues rose 8% to $52.7 million, with a net loss improving to $4.4 million, or $0.26 per share, from $8.9 million, or $0.54 per share, in 2024.
Looking forward, Iridex forecasts 2026 revenue between $51 million to $53 million, excluding Middle Eastern contributions due to geopolitical issues. The company aims for positive operating cash flow and anticipates improved margins, driven by restructuring and cost optimization processes underway.
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