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Iridex sees Q4 revenue $12.6M-$12.7M vs. $12.5M last year

Iridex sees Q4 revenue $12.6M-$12.7M vs. $12.5M last year

Fourth Quarter 2024 Results: The Company’s strategic review remains ongoing with multiple parties; Total revenue is expected to be between $12.6M and $12.7M compared to $12.5M in the prior year quarter; Sold 12,700 Cyclo G6 probes compared to 12,700 in the prior year quarter; Sold 47 Cyclo G6 Glaucoma Laser Systems, compared to 35 in the prior year quarter.Full Year 2024 Results: Total revenue is expected to be between $48.6M and $48.7M compared to $51.9M in 2023; Sold 54,800 Cyclo G6 probes, compared to 55,200 in the prior year; Sold 125 Cyclo G6 Glaucoma Laser Systems compared to 164 in the prior year. “We remained steadfast in our commitment to achieving positive EBITDA results in Q4 2024 laying the foundation for prioritizing profitability in 2025. Progress with our ongoing cost restructuring initiatives is enhancing our operational efficiency, improving margins, and positioning the company for greater financial strength,” said Patrick Mercer,CEO. “We are incredibly proud of our sales team for achieving Q4 results that match the performance of the same quarter last year. This accomplishment is especially commendable in light of our recent headcount reduction, a strategic step in our commitment to driving Iridex (IRIX) toward profitability. We remain committed to our strategic review process intended to maximize shareholder value and continue to be in discussion with multiple parties regarding a single or multiple transactions.”

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