Iridex Reports Q2 2026 Earnings with Mixed Performance Across Product Lines
In its second-quarter earnings call for fiscal year 2026, Iridex (IRIX) reported total revenue of $12.6 million, a 7% decline from the prior-year period due to lower retina product sales and international commercial transitions. The Cyclo G6 Product Family showed strong performance with $3.9 million in revenue—a 19% increase year-over-year—driven by higher unit volumes and average selling prices in the U.S. The company noted a significant rise in Cyclo G6 Probe Volume, up 35% to 17,700 units from 13,100 last year. However, laser system sales dropped to 18 units compared to 35 in Q2 2025 due to order timing shifts in the EMEA region. Retina product revenue also declined by $1.5 million amid international regulatory and commercial challenges. Iridex reported a net loss of $1.3 million, or $0.07 per share, compared to $1 million last year. Gross margin remained stable at 34.2%. The company provided full-year revenue guidance between $51 million and $53 million (excluding Middle East), with adjusted operating expenses expected in the range of $19–$19.5 million.
