Iridex Q2 revenue $13.6M (+7% YoY), net loss narrows to $1.0M; third straight positive adjusted EBITDA

IRIDEX CORP

2025-Q2 EPS reported -$0.16 revenue$25,467,000

Revenue $13.6M, up 7% YoY and 14% sequential; retina product revenue $8.0M (+10% YoY).
Cyclo G6 revenue $3.3M (flat YoY); sold 13,100 probes vs 15,100, and 35 systems vs 28.
Gross margin 34.5% vs 40.7% a year ago due to higher costs and product mix.
Operating expenses down 28% YoY to $5.6M; net loss $1.0M ($0.06/sh) vs $2.7M ($0.16/sh).
Non-GAAP adjusted EBITDA positive $21k, vs loss of $1.7M; cash $6.8M, down $0.4M in quarter.

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