Iridex Q1 revenue $13.4M (record), up 12% YoY; net loss $2.4M; guides FY22 rev $57-59M

IRIDEX CORP

2022-Q1 EPS reported -$0.15 revenue$13,387,000

Record Q1 revenue $13.4M (+12% YoY); net loss $2.4M ($0.15/sh) vs $2.0M ($0.14/sh) prior year.
Cyclo G6 product revenue $3.5M (+6%); 14,700 probes sold (+8%). Retina revenue $7.3M (+10%).
Gross margin improved to 44.6% from 41.3%. Cash $20.6M; net cash used $3.2M in Q1.
FY2022 guidance: revenue $57-59M; Cyclo G6 probe sales 67k-70k (15-20% growth).
CEO cites continued adoption of MicroPulse TLT and steps to mitigate supply chain risks.

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