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Iridex vs Edap TMS SA: IRIX and FOCL compared
Iridex is the larger company: $12.6M of revenue in its latest quarter (Q2 2026) against $9.8M for Edap TMS SA (Q3 2026). Edap TMS SA is growing faster (+26% against -7% a year earlier). Iridex is more profitable, with an operating margin of -8.2% against -79.1%.
Where the money goes: IRIX and FOCL
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.
Edap TMS SA (FOCL) · Q3 2026
Edap TMS SA, Q3 2026: revenue $9.8M (+26% year over year), operating margin -79.1%, net loss $4.5M, operating cash flow −$4.0M. The chart follows the revenue to costs, profit and cash.
| Iridex (IRIX) | Edap TMS SA (FOCL) | |
|---|---|---|
| Latest quarter | Q2 2026 | Q3 2026 |
| Revenue | $12.6M | $9.8M |
| Revenue growth, Y/Y | -7% | +26% |
| Operating margin | -8.2% | -79.1% |
| Net earnings | −$1.3M | −$4.5M |
| Net margin | -10.1% | -45.4% |
| Operating cash flow | $174K | −$4.0M |
| Free cash flow | $124K | — |
Where the revenue comes from
Iridex
- Retina: $6.5M (52%)
- Cyclo G Six: $3.9M (31%)
- Product and Service Other: $2.2M (17%)
Edap TMS SA
- Goods: $6.5M (66%)
- RPPs & leases: $2.4M (24%)
- Spare parts and services: $972K (10%)
Questions
Which is bigger, Iridex or Edap TMS SA?
Iridex is the larger company: $12.6M of revenue in its latest quarter (Q2 2026) against $9.8M for Edap TMS SA (Q3 2026).
Is Iridex or Edap TMS SA growing faster?
Edap TMS SA is growing faster (+26% against -7% a year earlier).
Which is more profitable, Iridex or Edap TMS SA?
Iridex is more profitable, with an operating margin of -8.2% against -79.1%.
More: Iridex earnings · how Iridex makes money · Edap TMS SA earnings · how Edap TMS SA makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Aug 18, 2026; 10-Q filed Nov 5, 2026). Fiscal quarters can end on different dates. Not investment advice.