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Iridex cash flow, quarter by quarter

Latest: Q2 2026 · from the cash-flow statements filed with the SEC

Free cash flow$124K in Q2 2026 · −$2.0M over twelve months

Operating cash flow$174K
Capital spending−$50K
Free cash flow+$124K
Cash conversion cycle82 days

Analysis

In Q2 2026, Iridex generated $174K of operating cash flow and spent $50K on capital projects, leaving free cash flow of $124K.

Over the twelve months to Jul 4, 2026, operating cash flow was −$1.7M; the largest uses were operating cash flow ($1.7M), capital spending ($270K), taxes on employees’ shares ($100K); the cash balance fell by $2.1M.

Operating cash flow was $174K against net income of −$1.3M. The largest differences: receivables +$1.2M, payables +$897K, inventory −$427K.

Its cash conversion cycle was 82 days (receivables 45 + inventory 105 − payables 68).

Free cash flow

Iridex: free cash flow by quarterIridex: free cash flow by quarter−$3.1MQ3 2024−$1.2MQ4 2024−$1.2MQ1 2025−$410KQ2 2025−$1.2MQ3 2025$483KQ4 2025−$1.4MQ1 2026$124KQ2 2026
Operating cash flow less capital spending.
Iridex: operating cash flow against capital spendingIridex: operating cash flow against capital spendingOperating cash flowCapital spending−$3.1M$1KQ3 2024−$1.2M$9KQ4 2024−$1.1M$11KQ1 2025−$397K$13KQ2 2025−$1.2M$13KQ3 2025$589K$106KQ4 2025−$1.3M$101KQ1 2026$174K$50KQ2 2026
Latest (Q2 2026): Operating cash flow $174K, Capital spending $50K.

Capital allocation, year by year

Iridex: where the cash came from (up) and went (down), by fiscal yearIridex: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingAcquisitionsFY2021: Operating cash flow $8.2MFY2021: Shares issued $10.1MFY2021: Capital spending −$213KFY2021: Acquisitions −$5.3M$18.3MFY2021FY2022: Operating cash flow −$9.5MFY2022: Shares issued $21KFY2022: Capital spending −$286K$21KFY2022FY2023: Operating cash flow −$6.7MFY2023: Shares issued $82KFY2023: Capital spending −$109K$82KFY2023FY2024: Operating cash flow −$7.3MFY2024: Net borrowing $3.2MFY2024: Shares issued $4KFY2024: Capital spending −$13K$3.2MFY2024FY2025: Operating cash flow −$2.1MFY2025: Net borrowing $39KFY2025: Shares issued $6.0MFY2025: Capital spending −$143K$6.0MFY2025
Over these 5 years operating cash flow totalled −$17.4M; the largest uses were operating cash flow ($25.7M) and acquisitions ($5.3M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$4.7M
Debtnone
Net cash$4.7M
Cash runway2.3 years

Iridex is burning cash: its operations consume cash, a free cash flow of −$2.0M a year at the current rate against $4.7M of cash and investments: a runway of about 2.3 years before any new financing.

Where the cash came from and went

Iridex: sources (+) and uses (−) of cash, Q2 2026Iridex: sources (+) and uses (−) of cash, Q2 2026Operating cash flow$174KCash drawn (+) / kept (−)−$85KCapital spending−$50KTaxes on employees’ shares−$38KExchange rates−$1K
Iridex: sources (+) and uses (−) of cash, TTM to Q2 2026Iridex: sources (+) and uses (−) of cash, TTM to Q2 2026Cash drawn (+) / kept (−)$2.1MOperating cash flow−$1.7MCapital spending−$270KTaxes on employees’ shares−$100KExchange rates$2K

From profit to cash

Iridex: net income to operating cash flow, Q2 2026Iridex: net income to operating cash flow, Q2 2026Net income−$1.3MDepreciation & amortization$86KStock-based pay$212KReceivables$1.2MInventory−$427KPayables$897KAccrued liabilities$68KEmployee-related liabilities−$84KDeferred revenue−$238KOther liabilities−$161KOperating cash flow$174K
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q2 2026451056882
Q1 2026561117295
Q4 202549805278
Q3 202552855284
Q2 202546955883
Q1 20254813987101
Q4 2024431398498
Q3 2024481388899

Every quarter

QuarterOperating cash flowCapital spendingNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q2 2026$174K−$50K——−$85K$124K
Q1 2026−$1.3M−$101K——$1.4M−$1.4M
Q4 2025$589K−$106K——−$455K$483K
Q3 2025−$1.2M−$13K——$1.2M−$1.2M
Q2 2025−$397K−$13K——$466K−$410K
Q1 2025−$1.1M−$11K$39K$6.0M−$4.9M−$1.2M
Q4 2024−$1.2M−$9K−$218K—$1.5M−$1.2M
Q3 2024−$3.1M−$1K$3.4M$4K$251K−$3.1M

Iridex: income statement and cash flow

Iridex, Q2 2026: revenue $12.6M (-7% year over year), operating margin -8.2%. The chart follows the revenue to costs, profit and cash.

Iridex: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.