Iridex Corp (IRIX) Q2 2027 Earnings Call

Concluded Aug 18, 2026

Aug 18, 2026 0 turns

Period: FY2027 Q2
Runtime: —
Sources: 2 artifacts

8-K 10-Q

Executive readout · one minute

What matters this quarter

IRIDEX reported Q2 revenue of $12.6 million, down 7% year-over-year, as a 19% increase in Cyclo G6 product family revenue was offset by a $1.5 million decline in retina sales tied to temporary international and regulatory disruptions. The company reaffirmed full-year 2026 revenue guidance of $51–$53 million while flagging a temporary working-capital build for inventory ahead of its headquarters relocation that will weigh on cash through 2026.

Glaucoma (G6) Growth and Probe Utilization 26 2026 Revenue Guidance Reaffirmation 20 Retina Business Headwinds 16 Headquarters Relocation and Manufacturing Transition 15 Cash Flow and Working Capital Management 13 Distribution and Commercial Partnerships 13

Management tone

Positive

Net tone +35 · moderate hedging

Grounding quotes

“Our focus in the back half of the year remains on strengthening our supply chain, building inventory ahead of our manufacturing transitions, and advancing our international regulatory submissions.”
“Our cost discipline keeps translating into stronger cash generation, and both our manufacturing transition and our headquarters relocation remain firmly on course to deliver meaningful additional margin improvement as the year unfolds.”
“The foundation we built is solid. Our path to sustain profitability is clear, and we're excited about what lies ahead.”
“we do expect low double-digit growth for the second half of the year if you back out”

Forward guidance

2 guided metrics

Management's latest ranges and targets are included below.

Research coverage

2 live sources

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Research materials

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8-K earnings release Filed Aug 18, 2026 10-Q report Filed Aug 18, 2026 Company webcastOpen the original investor-relations page

Key takeaways

What improved, and what deserves a closer read.

↑ Constructive signals

Cyclo G6 product family revenue grew 19% year-over-year to $3.9 million on 35% higher probe volume of 17,700 units
Operating expenses declined 5% year-over-year to $5.3 million, delivering positive operating cash flow in the quarter
Company reaffirmed full-year 2026 revenue guidance of $51–$53 million, implying 1–5% pro forma growth excluding Middle East
Manufacturing transition to lower-cost contract manufacturers and headquarters relocation positioned as drivers of gross margin improvement into 2027

↓ Risks & pressure points

Total Q2 revenue fell 7% year-over-year to $12.6 million from $13.6 million
Net loss widened to $1.3 million ($0.07/share) from $1.0 million and adjusted EBITDA swung to a $0.4 million loss from $21,000 income
Cyclo G6 system placements dropped to 18 from 35 due to EMEA order timing and competitive pressures on consoles
Temporary inventory build for headquarters relocation will reduce cash on hand through 2026, with only a 2027 reversal expected

Forward guidance

From the 8-K filed Aug 18, 2026.

Metric	Period	Guided	Basis
Annual revenue Initiated full year 2026	full year 2026	$51M – $53M	—
Adjusted operating expenses Initiated fiscal year 2026	fiscal year 2026	$19M – $19.5M	Non-GAAP

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