---
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"
generated_at: "2026-06-08T03:07:29.594886+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Iridex Q3 revenue $12.9M (-12% YoY); five MACs restrict glaucoma reimbursement; guidance withdrawn

## Summary
- 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- Guidance withdrawn for FY2023 due to uncertainty from LCDs impacting Cyclo G6 system and probe sales.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.

## SEC filing metadata
- 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
- event_type: other_material
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-063762
- JSON: https://secwatch.observer/filing/0000950170-23-063762.json
- Plain text: https://secwatch.observer/filing/0000950170-23-063762.txt

## Key facts
- Earnings Releases
  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.
  - Period: third quarter ended September 30, 2023
  - Revenue: $12.9 million
  - Net income: $1.8 million, or $0.11 per share
  - EPS: $0.11 per share
  - Result: reported results
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1006045/000095017023063762/0000950170-23-063762-index.htm

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