Filing Flows › Iridex (IRIX) › Q4 2025
Iridex (IRIX) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Apr 2, 2026
Iridex (IRIX) reported revenue of $14.7M for the fourth quarter 2025 (Q4 2025), +16% from a year earlier and +18% from the quarter before. Operating margin was -0.1%, net loss $184K (1.2% of revenue).
Iridex, Q4 2025: revenue $14.7M (+16% year over year), operating margin -0.1%, net loss $184K, operating cash flow $589K. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $14.7M | +18% | +16% |
| Operating profit | −$15K | — | — |
| Net earnings | −$184K | — | — |
| Operating cash flow | $589K | — | — |
| Free cash flow | $483K | — | — |
What changed
Revenue was $14.7M in Q4 2025, up 16% year over year and up 18% from the previous quarter. Retina was the largest line at 60% of revenue.
Gross margin was 37.2%, down 6.8 points from Q4 2024. Operating costs exceeded revenue by $15K, an operating margin of -0.1%. Operating expenses fell 10% while revenue rose 16%. The quarter ended with a net loss of $184K, narrower than the previous quarter's $1.6M loss. Net interest and other expense of $149K was the main reason.
Operating cash flow was $589K. Non-cash charges added back $151K of depreciation and amortization and $213K of share-based compensation. Working capital and other items added $409K. Capital expenditures of $106K left free cash flow of $483K.
Questions
What was Iridex's revenue in the fourth quarter 2025?
Iridex (IRIX) reported revenue of $14.7M for the fourth quarter 2025 (Q4 2025), +16% from a year earlier and +18% from the quarter before.
Was Iridex profitable in the fourth quarter 2025?
Operating loss was $15K (-0.1% of revenue) and net loss $184K.
Source: Iridex 10-K on SEC EDGAR.