Iridex Q3 revenue $12.5M (+8% YoY); expects positive adjusted EBITDA in FY2025

IRIDEX CORP

2025-Q3 EPS reported -$0.25 revenue$37,951,000

Total revenue $12.5M (+8% YoY); Cyclo G6 revenue $3.5M (+13%); Retina revenue $6.7M (+4%).
Gross margin 32.1% down 520 bps due to one-time $0.8M inventory write-down; operating expenses down 12%.
Net loss $1.6M ($0.09 per share) vs $1.9M ($0.12) prior year; adjusted EBITDA loss improved to $0.1M from $1.4M.
Cash $5.6M, down $1.2M in quarter; guidance: cash flow breakeven in Q4 and positive adjusted EBITDA for full year 2025.

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