secwatch.observer — SEC 8-K summary
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Issuer:     IRIDEX CORP (IRIX)
CIK:        0001006045
Form:       8-K
Filed at:   2023-08-10T23:59:59+00:00
Accession:  0000950170-23-041340
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1006045/000095017023041340/0000950170-23-041340-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1006045/000095017023041340/irix-20230810.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-041340

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer