{"schema_version":"secwatch.filing_event.v1","accession":"0000950170-23-063762","form_type":"8-K","ticker":"IRIX","cik":"0001006045","company_name":"IRIDEX CORP","filed_at":"2023-11-14T23:59:59+00:00","discovered_at":"2026-05-14T18:03:27.819996+00:00","generated_at":"2026-06-08T03:07:29.594886+00:00","sec_items":["2.02","9.01"],"event_type":"other_material","sentiment":"negative","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"Iridex Q3 revenue $12.9M (-12% YoY); five MACs restrict glaucoma reimbursement; guidance withdrawn","bullets":["Q3 revenue $12.9M, down 12% YoY; net loss $1.8M ($0.11/share) flat vs prior year.","Cyclo G6 revenue $3.0M (-12% YoY); probes up 3% but system sales fell to 27 units (vs 54 prior year).","Five U.S. MACs issued LCDs restricting cyclophotocoagulation reimbursement (effective Dec 24); Iridex appealing and challenging the criteria.","Guidance withdrawn for FY2023 due to uncertainty from LCDs impacting Cyclo G6 system and probe sales.","Strategic review announced in August; Piper Sandler engaged as financial advisor to explore alternatives."],"urls":{"canonical":"https://secwatch.observer/filing/0000950170-23-063762","json":"https://secwatch.observer/filing/0000950170-23-063762.json","markdown":"https://secwatch.observer/filing/0000950170-23-063762.md","text":"https://secwatch.observer/filing/0000950170-23-063762.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1006045/000095017023063762/0000950170-23-063762-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1006045/000095017023063762/irix-20231114.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-08T03:07:29.594886+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"512906a11c272cc5e877fc2d1719d81ba760459b","claim":"IRIDEX CORP reported third quarter ended September 30, 2023 results: revenue $12.9 million, net income $1.8 million, or $0.11 per share, EPS $0.11 per share.","evidence_excerpt":"diseases, today reported financial results for the third quarter ended September 30, 2023 and provided a business update. Recent Business Updates • Generated total revenue of $12.9 million, representing flat sequential quarter revenue and a decrease of 12% year-over-year • Cyclo G6® product family revenue in the third quarter of $3.0 million, representing a","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1006045/000095017023063762/0000950170-23-063762-index.htm","confidence":1.0,"family_label":"Earnings Releases","details":[{"label":"Period","value":"third quarter ended September 30, 2023"},{"label":"Revenue","value":"$12.9 million"},{"label":"Net income","value":"$1.8 million, or $0.11 per share"},{"label":"EPS","value":"$0.11 per share"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}