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Iridex Corp (IRIX)
NASDAQ:IRIX
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Earnings Data
Report Date
Mar 06, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
―Last Year’s EPS
-$0.18Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 12, 2024
|% Change Since: 16.31%
|Next Earnings Date:Mar 06, 2025
Earnings Call Sentiment|Neutral
The earnings call presented a mixed picture. While there were challenges with a revenue decline and increased losses, positive steps have been taken towards cost reduction and strategic progress. The upcoming changes in glaucoma reimbursement and positive fourth-quarter outlook add optimism.Company Guidance
During the Q3 2024 earnings call for IRIDEX, several key metrics and strategic initiatives were discussed. The company reported a total revenue of $11.6 million for the quarter, a 10% decline from the previous year, mainly due to challenges in the retina business, though this was attributed to timing issues. Revenue from the Cyclo G6 product family rose by 3% to $3.1 million, with 13,600 probes sold, despite a sequential 10% decline. The retina segment saw an 18% year-over-year decrease to $6.5 million, caused by regulatory shipping delays, expected to be resolved by Q4. Gross profit stood at $4.3 million, down from $5.6 million, with a reduced gross margin of 37.3% due to a shift in product mix. Operating expenses decreased by $1.1 million to $6.2 million, thanks to cost reduction initiatives, contributing to a net loss of $1.9 million or $0.12 per share. The company is focused on improving its cash position, which was $3.9 million, including proceeds from a convertible note offering. IRIDEX aims to achieve EBITDA breakeven in Q4 2024 through aggressive cost-cutting measures and improved revenue alignment. Additionally, the company anticipates a favorable shift in the competitive landscape due to changes in glaucoma procedure reimbursements, potentially boosting the adoption of its products.Cost-Cutting Measures and Strategic Review Progress
The company has implemented cost-cutting measures, expected to make the fourth quarter EBITDA positive. The strategic review has accelerated, with strong interest in IRIDEX's products and potential transactions expected before year-end.
Positive Outlook for Fourth Quarter
Despite the third-quarter challenges, there's a positive outlook for the fourth quarter with increasing momentum in glaucoma products and promising leads from the American Academy of Ophthalmology meeting.
Revenue Growth in Glaucoma Products
Revenue from the Cyclo G6 product family increased by 3% in the third quarter compared to the previous year.
Improved Glaucoma Reimbursement Landscape
The new LCD reimbursement changes for glaucoma procedures, effective November 17, are expected to increase physician adoption of IRIDEX laser consoles and probes.
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IRIX Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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IRIX Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 12, 2024 | $1.41 | $1.89 | +34.04% |
| Aug 08, 2024 | $1.87 | $1.86 | -0.53% |
| May 14, 2024 | $3.08 | $2.65 | -13.96% |
| Mar 26, 2024 | $2.51 | $2.95 | +17.53% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Iridex Corp (IRIX) report earnings?
Iridex Corp (IRIX) is schdueled to report earning on Mar 06, 2025, TBA Not Confirmed.
What is Iridex Corp (IRIX) earnings time?
Iridex Corp (IRIX) earnings time is at Mar 06, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is IRIX EPS forecast?
Currently, no data Available
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