Filing Flows › Iridex (IRIX) › Q1 2025
Iridex (IRIX) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 13, 2025
Iridex (IRIX) reported revenue of $11.9M for the first quarter 2025 (Q1 2025), +1% from a year earlier and -6% from the quarter before. Operating margin was -1.7%, net loss $1.7M (14.2% of revenue).
Iridex, Q1 2025: revenue $11.9M (+1% year over year), operating margin -1.7%, net loss $1.7M, operating cash flow −$1.1M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $11.9M | -6% | +1% |
| Operating profit | −$205K | — | — |
| Net earnings | −$1.7M | — | — |
| Operating cash flow | −$1.1M | — | — |
What changed
Revenue was $11.9M in Q1 2025, up 1% year over year and down 6% from the previous quarter. Retina was the largest line at 56% of revenue. Cyclo G Six added $228K year over year (up 8%), 169% of the total change. Retina declined 2%.
Gross margin was 42.5%, up 4.6 points from a year earlier. Operating costs exceeded revenue by $205K, an operating margin of -1.7%. Operating expenses fell 32% while revenue rose 1%. The quarter ended with a net loss of $1.7M, wider than the previous quarter's $834K loss. Net interest and other expense of $1.5M was the main reason.
Operating cash flow was −$1.1M. Non-cash charges added back $135K of depreciation and amortization and $213K of share-based compensation. Working capital and other items added $189K. Capital expenditures of $11K exceeded it, leaving free cash flow of −$1.2M.
Questions
What was Iridex's revenue in the first quarter 2025?
Iridex (IRIX) reported revenue of $11.9M for the first quarter 2025 (Q1 2025), +1% from a year earlier and -6% from the quarter before.
Was Iridex profitable in the first quarter 2025?
Operating loss was $205K (-1.7% of revenue) and net loss $1.7M.
Source: Iridex 10-Q on SEC EDGAR.