IRIDEX Corporation
Severe listing-compliance risk
The share price is below $1 and the stored reverse-split/listing-risk level is HIGH. No verified reverse-split authorization or announced reverse split is currently recorded. This is a risk signal, not confirmation that Nasdaq has issued a deficiency notice.
IRIX · Price history
Price at last available close
$0.74
+$0.12 (+19.37%) 1M
2026-10-27
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Company & revenue
About IRIDEX Corporation
Primary reporting period: 2026-01-03 · Research updated Oct 13, 2026. A research update is not a new financial filing.
Who they are
IRIDEX Corporation is a medical technology firm specializing in ophthalmology. They develop and supply advanced therapeutic laser systems, various delivery instruments, and essential consumable tools designed to address vision-threatening ocular conditions. Their product portfolio includes several laser consoles, each tailored for specific eye conditions.
How they make money
IRIDEX Corporation generates revenue by developing, manufacturing, and selling ophthalmic laser systems, delivery devices, and consumable instrumentation. These products are sold to ophthalmologists, hospitals, and surgical centers primarily through a direct sales force in the United States and Germany, and through independent distributors in other international markets.
Products & services
Therapeutic laser systems, delivery devices, and procedure probes used for the treatment of glaucoma and retinal diseases.
Brands & revenue mix
No separate brand or brand-level revenue disclosure was confirmed in the reviewed sources. This does not mean the company has no brands.
Product / operating segments
Period ended 2026-01-03Source
Period ended 2026-01-03Source
Period ended 2026-01-03Source
Calculated from reported segment revenue. Check the source period and revenue basis before comparing shares. Categories can overlap and may not add to 100%.
Geographic revenue
Period ended 2026-01-03Source
Period ended 2026-01-03Source
Period ended 2026-01-03Source
Period ended 2026-01-03Source
Calculated from reported segment revenue. Check the source period and revenue basis before comparing shares. Categories can overlap and may not add to 100%.
Customer types
Disclosed major customers
- Topcon CorporationSource
Customer concentration
The company sells its products internationally primarily through Topcon Corporation and other independent distributors, as disclosed in the fiscal year ended January 3, 2026.
Suppliers, materials & equipment
- Third-party manufacturers — The company relies on unnamed third-party manufacturers for production and third-party providers for regional product distribution and logistics.Source
Strengths
- Core competencies in mechanical engineering, electrical engineering, optics, lasers, fiber optics, software, and industrial design.Source
Wall Street Score
Overall investment score · Quality, value, risk and opportunity
27
Poor
View category scores →
Company Quality
How good is the actual business—regardless of today’s stock price?
28
Poor
Financial Strength
34
Business Quality / Moat
17
Management
40
Growth Quality
22
Risk / Durability
29
Uses financial strength, moat, management, growth quality and durability. It excludes share price, P/E, market cap, intrinsic value and margin of safety.
Opportunity
Opportunity Score · How does the current price compare with estimated value?
36
Avoid
Based on current valuation, company quality, recent trends, and available market signals.
View score details →
Model Outlook
12-month model · What does the model think happens next?
41/100
Building Historical Record
Model Score 41/100 — estimates relative performance potential, distinct from the overall Wall Street Score and the separate Company Quality score.
Probability unavailable — the model has not produced a calibrated probability yet.
Click for full breakdown →
Reverse-split / listing-compliance risk: HIGH
This is a risk signal, not a prediction. It is separate from Wall Street Score and does not change the company score. It looks for listing-pressure signals such as prolonged Nasdaq trading below $1, very low share price, micro-cap size, negative free cash flow, and verified recent reverse splits.
Risk indicator: 65/100
WSS View
The quick read
The overall Wall Street Score is low across its combined quality, valuation and risk inputs. This can reflect an expensive share price, business weaknesses, or both; check Company Quality and the category breakdown before drawing a conclusion.
At today’s price, the WSS valuation framework currently reads as less attractive based on the available valuation and market data.
The model outlook is currently cautious.
- •Insider activity signal is favorable
- •Valuation is a weaker part of the current profile
- •Revenue fundamentals are weak
- •Debt / balance-sheet profile needs attention
Company-specific research
Questions worth answering for IRIX
These questions are generated from this company's current financial and score data so the page adds context instead of treating the headline score as a stand-alone conclusion.
- •What is driving IRIX's revenue decline, and does the latest company filing suggest the weakness is temporary or structural?
- •How long can IRIX fund negative free cash flow using its current cash position before it may need more debt or new shares?
- •Does IRIX's balance between cash and debt leave enough flexibility if business conditions weaken?
- •What specifically needs to improve for IRIX to reach sustainable profitability?
- •What future growth or profitability would be needed to justify IRIX's current valuation?
Essential Investment Snapshot
Wall Street Score
27
Opportunity Score
36
Market Cap
$13.0M
P/E Ratio
-3.1
EPS
$-0.20
52-Week High
$1.65
52-Week Low
$0.61
Beta
0.63
Analyst Target
$2.75
Shares Outstanding
17.2M
Total Revenue
$51.6M
Total Debt
$4.0M
Dividend
No current dividend
Liquidation Value / Share
$0.21
Momentum & Volatility Signals
Two different market-behavior signals. Momentum measures direction and trend strength. Volatility measures how large and unstable the price moves are, regardless of direction.
Neutral / mixed momentum
Extreme movement
A high momentum score means price has been trending upward with confirming short- and medium-term strength. A low score means downward or weakening momentum.
A high volatility score means larger, less stable price swings. It can happen while a stock is rising or falling, so high volatility is not automatically bullish or bearish.
Important: the volatility score above is based on realized price volatility. Implied volatility (IV) comes from options prices and represents the market's expected future movement. Wall Street Score will keep IV separate and will only display it when a verified options-chain feed is available.
Community Sentiment
0 active · 0 total callsNo personal call yet on IRIX.
Potential upside factors
- +Growth opportunities may come from revenue expansion, margin improvement, new products, market-share gains, and stronger cash flow.
- +Core competencies in mechanical engineering, electrical engineering, optics, lasers, fiber optics, software, and industrial design.
Potential downside factors
- −Key risks may include competition, margin pressure, debt levels, valuation risk, and changes in demand within the Medical - Devices industry.
- −Concentration of research, manufacturing, and corporate operations in Mountain View, California, near major earthquake faults.
- −Reliance on third-party providers for regional product distribution and logistics.
- −Negative free cash flow may increase the need for outside financing and dilution.
These research factors come from saved company research and financial data, not community votes. They are starting points to verify against filings, not buy or sell recommendations.
Create a free account to make a call.
Scores
Click any score for full breakdownWas this stock page easy to understand?
One click helps us improve the research experience. This is not tied to an investment decision.
Score Changes
3 historical score records availablePrevious Score
27
Aug 14, 2026
Change
Unchanged
Current Score
27
Oct 1, 2026
Category Changes
IRIX score was unchanged.
Projected Score
Projected Score
25
Projected Change
-2.2 points
Preliminary comparable-period financial changes suggest decline of approximately 2.2 points. This is a projected estimate, not the official WallStreetScore.
Price vs. Value
Valuation unavailableCurrent Price
$0.74
Model Intrinsic Value
—
Difference
—
Margin of Safety
—
Intrinsic value is not currently available for this stock, so valuation can't be calculated.
Financial Charts
Revenue
Additional Metrics
Operating Cash Flow
Total Debt
Total Assets
Net Margin %
Free includes 3 annual periods plus available TTM; Premium includes up to 10 annual periods. History depends on available company filings. Swipe the table horizontally to see older periods. A dash means unavailable, not zero.
| Line Item | TTM | 2026 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $51.6M | $52.7M | $48.7M | $51.9M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Cost of Revenue | $32.9M | $33.4M | $29.2M | $30.1M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Gross Profit | $18.7M | $19.3M | $19.5M | $21.8M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Research & Development | $3.8M | $3.7M | $5.4M | $6.8M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| SG&A Expenses | $17.5M | $18.1M | $22.4M | $25.0M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Operating Expenses | $21.5M | $21.9M | $27.8M | $31.8M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| EBITDA | -$1.7M | -$2.8M | -$7.4M | -$7.4M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Operating Income | -$2.8M | -$2.6M | -$8.3M | -$10.0M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Interest Expense | $0.00 | $0.00 | $0.00 | $0.00 | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Income Before Tax | -$3.4M | -$4.4M | -$8.8M | -$9.5M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Income Tax Expense | $152K | $57K | $68K | $90K | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Net Income | -$3.5M | -$4.4M | -$8.9M | -$9.6M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Basic EPS | $-0.20 | $-0.26 | $-0.54 | $-0.59 | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Basic Shares | 17.38M | 17.19M | 16.44M | 16.13M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Diluted Shares | 17.38M | 17.19M | 16.44M | 16.13M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
Earnings Summary
Revenue
$12.6M
Estimate unavailable.
Revenue Beat/Miss
Not available (no estimate stored)
EPS
-$0.07
Estimate unavailable.
EPS Beat/Miss
Not available (no estimate stored)
Debt Change
-20.8%
Cash Change
-31.0%
Margin Change
-2.8 pp
Debt and cash show percentage changes versus the comparison period; margin shows the change in percentage points (pp). These are company-wide changes, not per-share amounts.
Financial Changes Since Prior Period
What Improved
- Debt reduced
What Weakened
- Margins contracted
- Cash position declined
Potential Score Impact
Positive indicators included EPS growth, debt levels. Pressure indicators included revenue growth, cash levels, net income margin. These factors may support or pressure the Revenue, Management, Financial, and Debt categories; this summary does not claim that the stored scores changed.
Stored Earnings Analysis
Revenue declined 7.4%. EPS increased 22.8%. Cash declined 31.0%. Total debt declined 20.8%. Net income margin declined by 2.8 percentage points.
Earnings-Call Transcript
Earnings-call transcript analysis is not currently available.
These results may influence future scores when the next evaluation is completed.
Insider Activity
Guru / Smart Money
Guru Score
Smart Money
Number of Gurus
Total Guru Value
Avg Portfolio Weight
Largest Holder
Largest Holder %
New Positions
Increased Positions
Reduced Positions
Exited Positions
Net Guru Sentiment
Short Interest
Dividend History
Dividend data is not available yet. Missing data does not mean this company pays no dividend.
Conservative Projected Values
3 Years
$———.——
5 Years
$———.——
10 Years
$———.——
Conservative Projection Rate
——%
Conservative Projected Values — price projections derived from actual 10-year adjusted historical returns, conservatively adjusted and capped at 8% annually. These are distinct from the Outperformance Model Score and WallStreetScore.
Conservative Projected Values
Premium unlocks the 3-year, 5-year, and 10-year conservative projected values with full calculation breakdowns based on actual historical returns.
Start 7-Day Free TrialHistorical Outperformance Record
Premium includes stored forecasts and any available evaluated results. Completed results, win rates and calibrated probabilities are shown only when supported records exist; access does not create historical outcomes.
Start 7-Day Free TrialHistorical Trends
3 historical recordsHistorical Score Chart
3 of 3 records shownWall Street Score
Debt Score
Revenue Score
Asset Score
Capital Score
Management Score
Moat Score
Valuation Score
Buffett Score
Intrinsic Value
Value Reference
Margin of Safety %
Related Companies
Medical - DevicesNews
IRIDEX (NASDAQ:IRIX) Shares Cross Below 200-Day Moving Average – Here’s Why
IRIDEX Q2 Loss Widens Y/Y as Retina Weakness Weighs, Stock Down 15%
IRIDEX Corporation (IRIX) Q2 2026 Earnings Call Transcript
Iridex Reports Second Quarter 2026 Financial Results
Rumor Mill · IRIX
Corporate developments & opportunities
No reviewed developments match this filter.
Evidence credibility is not a forecast of stock performance. Rumor Mill is separate from the WSS score.
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