Iridex Q1 Revenue $11.8M; Cyclo G6 Sales Up 14%
Iridex reported Q1 revenue of $11.8 million, down 1% year-over-year, as Cyclo G6 sales grew 14% to $3.6 million and retina revenue fell to $5.8 million; net loss narrowed to $0.5 million ($0.03/share) from $1.7 million. Cash at $4.6 million and guidance of $51 million–$53 million reaffirmed with positive cash flow.
1. First Quarter Results
Iridex reported total revenue of $11.8 million for the quarter ended April 4, 2026, reflecting a 1% decline year-over-year. Operating expenses decreased by 4% to $5.1 million, helping narrow the net loss to $0.5 million ($0.03 per share) compared with a $1.7 million loss in Q1 2025.
2. Product Segment Performance
Revenue from the Cyclo G6 product family rose 14% to $3.6 million, driven by sales of 15,500 probes versus 13,900 a year earlier and steady system shipments. Retina product revenue declined to $5.8 million from $6.6 million, reflecting international supply constraints and delayed regulatory approvals despite stronger U.S. demand.
3. Guidance, Cash and Outlook
The company ended the quarter with $4.6 million in cash and reaffirmed full-year revenue guidance of $51 million to $53 million. Management expects operating cash flow to turn positive for fiscal 2026, supported by cost structure improvements and ongoing G6 adoption.