Filing Flows › Iridex (IRIX) › Q1 2026
Iridex (IRIX) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 19, 2026
Iridex (IRIX) reported revenue of $11.8M for the first quarter 2026 (Q1 2026), -0.8% from a year earlier and -20% from the quarter before. Operating margin was -2.7%, net loss $524K (4.4% of revenue).
Iridex, Q1 2026: revenue $11.8M (-0.8% year over year), operating margin -2.7%, net loss $524K, operating cash flow −$1.3M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $11.8M | -20% | -0.8% |
| Operating profit | −$324K | — | — |
| Net earnings | −$524K | — | — |
| Operating cash flow | −$1.3M | -327% | — |
What changed
Revenue was $11.8M in Q1 2026, down 1% year over year and down 20% from the previous quarter. Retina was the largest line at 49% of revenue. Retina lost $818K year over year (down 12%), 843% of the total change.
Gross margin was 40.2%, down 2.3 points from Q1 2025. Operating costs exceeded revenue by $324K, an operating margin of -2.7%. Operating expenses fell 4% while revenue fell 1%. The quarter ended with a net loss of $524K, wider than the previous quarter's $184K loss.
Operating cash flow was −$1.3M. Non-cash charges added back $100K of depreciation and amortization and $211K of share-based compensation. Working capital and other items used $1.1M. Capital expenditures of $101K exceeded it, leaving free cash flow of −$1.4M.
Questions
What was Iridex's revenue in the first quarter 2026?
Iridex (IRIX) reported revenue of $11.8M for the first quarter 2026 (Q1 2026), -0.8% from a year earlier and -20% from the quarter before.
Was Iridex profitable in the first quarter 2026?
Operating loss was $324K (-2.7% of revenue) and net loss $524K.
Source: Iridex 10-Q on SEC EDGAR.