Iridex Q1 revenue $11.9M, positive adj EBITDA $0.4M after $10M strategic investment

IRIDEX CORP

2025-Q1 EPS reported -$0.10 revenue$11,896,000

Total revenue $11.9M (flat YoY); Cyclo G6 glaucoma revenue up 8% to $3.2M; Retina revenue down 3% to $6.6M.
Adjusted EBITDA improved to $0.4M from ($2.5M) YoY; net loss narrowed to $1.7M ($0.10/share) from $3.5M ($0.21).
Operating expenses cut 32% to $5.3M; gross margin expanded to 42.5% from 37.9% on favorable product mix.
Received $10M strategic investment from Novel Inspiration; Lind note payable settled, reducing debt.
2025 outlook: cash flow breakeven and positive adjusted EBITDA on 2024-level revenue.

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