8-K
filed August 10, 2023, 7:59 PM ET
ticker IRIX
CIK 0001006045
earnings
confidence high
sentiment negative
materiality 0.65
IRIDEX Q2 revenue down 7% to $12.9M; net loss widens; FY2023 guidance narrowed
IRIDEX CORP
2023-Q2 EPS reported
-$0.30
revenue$26,561,000
- Q2 revenue $12.9M, -7% YoY; Cyclo G6 product revenue up 5% to $3.7M.
- Retina product revenue down 9% to $6.9M; royalty revenue fell $0.4M on patent expirations.
- Net loss $2.8M ($0.17/share) vs $2.2M ($0.14) in prior year; gross margin 41.7%.
- FY2023 guidance: total revenue $55-57M (flat to +3% adj.), Cyclo G6 probes 61k-63k units.
- Cash $9.8M; quarterly cash burn improved to $1.2M from $2.9M in Q1.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
IRIDEX CORP reported full year 2023 results: revenue $55 million to $57 million. Guidance lowered.
- Period
- full year 2023
- Revenue
- $55 million to $57 million
- Guidance
- lowered
- Result
- guidance update
Exact text from the filing
With lower than expected probe unit sales growth and capital equipment softness in the first half of the year , the Company is updating its full year 2023 expectations as follows: Cyclo G6 probe sales of 61,000 to 63,000 units representing approximately 1% to 5% growth over 2022 and Cyclo G6 systems installed base expansion of 210 to 230 systems. Total revenue for the full year is expected to be $55 million to $57 million, representing flat to 3% growth year-over-year, after adjusting for approximately $1.5 million reduction in royalty revenue.
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
IRIDEX CORP reported second quarter ended July 1, 2023 results: net income $2.8 million, EPS $0.17 per share.
- Period
- second quarter ended July 1, 2023
- Net income
- $2.8 million
- EPS
- $0.17 per share
- Result
- reported results
Exact text from the filing
Revenue for the three months ended July 1, 2023 was $12.9 million compared to $13.8 million during the same period of the prior year.
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
IRIDEX CORP reported second quarter ended July 1, 2023 results: net income $2.8 million, EPS $0.17 per share.
- Period
- second quarter ended July 1, 2023
- Net income
- $2.8 million
- EPS
- $0.17 per share
- Result
- reported results
Exact text from the filing
Net loss for the second quarter of 2023 was $2.8 million, or $0.17 per share, compared to a net loss of $2.2 million, or $0.14 per share, in the same period of the prior year.
View on SEC.gov
This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice.
See methodology for how this pipeline works.