Iridex Q4 revenue $14.7M up 16% YoY; first positive adjusted EBITDA

IRIDEX CORP

Q4 total revenue $14.7M (+16% YoY); retina $8.9M (+22%), Cyclo G6 $3.8M (+15%).
Q4 net loss improved to $0.2M ($0.01 EPS) from $0.8M ($0.05 EPS) in Q4 2024.
FY 2025 revenue $52.7M (+8% YoY); net loss $4.4M ($0.26) vs $8.9M ($0.54) in 2024.
First positive adjusted EBITDA of $1.1M in FY 2025 (vs -$4.3M in 2024) and Q4 $0.8M.
FY 2026 guidance: revenue $51M-$53M; positive operating cash flow; OpEx $19M-$19.5M.

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