---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-041340"
form_type: "8-K"
ticker: "IRIX"
cik: "0001006045"
company_name: "IRIDEX CORP"
filed_at: "2023-08-10T23:59:59+00:00"
generated_at: "2026-06-11T16:10:54.182004+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# IRIDEX Q2 revenue down 7% to $12.9M; net loss widens; FY2023 guidance narrowed

## Summary
- 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.

## SEC filing metadata
- accession: 0000950170-23-041340
- form_type: 8-K
- ticker: IRIX
- cik: 0001006045
- company_name: IRIDEX CORP
- filed_at: 2023-08-10T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1006045/000095017023041340/0000950170-23-041340-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1006045/000095017023041340/irix-20230810.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-041340
- JSON: https://secwatch.observer/filing/0000950170-23-041340.json
- Plain text: https://secwatch.observer/filing/0000950170-23-041340.txt

## Key facts
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1006045/000095017023041340/0000950170-23-041340-index.htm
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1006045/000095017023041340/0000950170-23-041340-index.htm
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1006045/000095017023041340/0000950170-23-041340-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.