---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-24-059624"
form_type: "8-K"
ticker: "IRIX"
cik: "0001006045"
company_name: "IRIDEX CORP"
filed_at: "2024-05-14T23:59:59+00:00"
generated_at: "2026-06-02T00:06:24.368143+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Iridex Q1 revenue down 14% to $11.8M; net loss widens; strategic review ongoing after deal collapse

## Summary
- Q1 revenue $11.8M vs $13.7M YoY; net loss $3.5M ($0.21/share) vs $2.1M ($0.13/share).
- Cyclo G6 revenue $3.0M (down 19% YoY); system sales fell to 22 units from 61.
- Retina product revenue $6.8M, down 6% YoY; gross margin contracted to 37.9% from 43.3%.
- Cash $5.4M as of March 30, 2024; used $1.6M in the quarter.
- First expected asset sale terminated; strategic review continues with multiple parties on product lines or whole company.

## SEC filing metadata
- accession: 0000950170-24-059624
- form_type: 8-K
- ticker: IRIX
- cik: 0001006045
- company_name: IRIDEX CORP
- filed_at: 2024-05-14T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1006045/000095017024059624/0000950170-24-059624-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1006045/000095017024059624/irix-20240514.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-24-059624
- JSON: https://secwatch.observer/filing/0000950170-24-059624.json
- Plain text: https://secwatch.observer/filing/0000950170-24-059624.txt

## Key facts
- Earnings Releases
  IRIDEX CORP reported first quarter ended March 30, 2024 results: revenue $11.8 million, net income $3.5 million, EPS $0.21 per share.
  - Period: first quarter ended March 30, 2024
  - Revenue: $11.8 million
  - Net income: $3.5 million
  - EPS: $0.21 per share
  - Result: reported results
  source text: today reported financial results for the first quarter ended March 30, 2024, and provided a business update. First Quarter 2024 Financial Highlights • Generated total revenue of $11.8 million, compared to $13.7 million in the prior year period • Cyclo G6® product family revenue in the first quarter of $3.0 million, compared to $3.7 million in the prior year period o
  evidence_url: https://www.sec.gov/Archives/edgar/data/1006045/000095017024059624/0000950170-24-059624-index.htm

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