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Electromed vs Iridex: ELMD and IRIX compared
Electromed is the larger company: $19.4M of revenue in its latest quarter (Q4 FY26) against $12.6M for Iridex (Q2 2026). Electromed is growing faster (+12% against -7% a year earlier). Electromed is more profitable, with an operating margin of 19.7% against -8.2%.
Where the money goes: ELMD and IRIX
Electromed (ELMD) · Q4 FY26
Electromed, Q4 FY26: revenue $19.4M (+12% year over year), operating margin 19.7%, net earnings $3.4M, operating cash flow $3.0M. The chart follows the revenue to costs, profit and cash.
Iridex (IRIX) · Q2 2026
Iridex, Q2 2026: revenue $12.6M (-7% year over year), operating margin -8.2%, net loss $1.3M, operating cash flow $174K. The chart follows the revenue to costs, profit and cash.
| Electromed (ELMD) | Iridex (IRIX) | |
|---|---|---|
| Latest quarter | Q4 FY26 | Q2 2026 |
| Revenue | $19.4M | $12.6M |
| Revenue growth, Y/Y | +12% | -7% |
| Gross margin | 78.7% | — |
| Operating margin | 19.7% | -8.2% |
| Net earnings | $3.4M | −$1.3M |
| Net margin | 17.5% | -10.1% |
| Operating cash flow | $3.0M | $174K |
| Free cash flow | $2.8M | $124K |
Where the revenue comes from
Iridex
- Retina: $6.5M (52%)
- Cyclo G Six: $3.9M (31%)
- Product and Service Other: $2.2M (17%)
Questions
Which is bigger, Electromed or Iridex?
Electromed is the larger company: $19.4M of revenue in its latest quarter (Q4 FY26) against $12.6M for Iridex (Q2 2026).
Is Electromed or Iridex growing faster?
Electromed is growing faster (+12% against -7% a year earlier).
Which is more profitable, Electromed or Iridex?
Electromed is more profitable, with an operating margin of 19.7% against -8.2%.
More: Electromed earnings · how Electromed makes money · Iridex earnings · how Iridex makes money
From the companies' latest 10-Q, 10-K or earnings release (10-K filed Aug 25, 2026; 10-Q filed Aug 18, 2026). Fiscal quarters can end on different dates. Not investment advice.