IRIDEX Corporation is an infra-ophthalmic medical technology company that develops and commercializes laser-based treatments for sight-threatening eye conditions, primarily glaucoma and retinal diseases.

# IRIDEX Corporation

## Overview
IRIDEX is an infra-ophthalmic medical technology company that develops and commercializes laser-based treatments for sight-threatening eye conditions, with a focus on glaucoma and retinal diseases. The company markets products and procedures that use its proprietary laser technologies.

## Core technologies
- MicroPulse Technology: Uses short, microsecond laser pulses that allow tissue cooling between pulses, enabling finer control of thermal elevation and reducing tissue damage.
- Endpoint Management Technology: Uses a delivery algorithm to titrate laser energy for safer, controlled treatment.

Both technologies are offered as optional treatment modes alongside standard continuous-wave (CW) laser mode and are presented as having a safer profile than high-energy CW laser therapy.

## Product portfolio
- Laser consoles:
  - Glaucoma: Cyclo G6 laser system with MicroPulse.
  - Medical Retina: IQ 532 and IQ 577 laser systems (with MicroPulse) and the PASCAL System (Pattern Scanning Laser), which combines Endpoint Management and MicroPulse.
  - Surgical Retina: OcuLight TX and OcuLight SLx (with MicroPulse).
- Consumables and delivery devices:
  - Glaucoma probes: MicroPulse P3, G-Probe, and G-Probe Illuminate (single-use delivery devices).
  - Surgical Retina probes: EndoProbe handpieces (single-use).
- Applications and usage:
  - In operating rooms and ambulatory surgical centers, used with indirect laser ophthalmoscopes or single-use probes.
  - In offices and clinics, used with indirect ophthalmoscopes or slit-lamp adapters.
  - The PASCAL system enables pattern scanning laser photocoagulation (PSLT) using Endpoint Management and MicroPulse technologies.

## Revenue model
Recurring revenue is driven primarily by sales of consumables (single-use laser probe devices and EndoProbe handpieces) and by repair, service, and extended service contracts for laser systems.

## Distribution and customers
- In the United States and Germany, products are predominantly sold through a direct sales force.
- Outside those markets, distribution is primarily through Topcon Corporation and other independent distributors, with exceptions in Germany, Italy, the UK (for glaucoma), India, and several smaller markets.

## Financial highlights
- Fiscal year 2024 (ended December 28, 2024):
  - Revenue: $48.7 million
  - Net loss: $8.9 million
- Fiscal year 2025 (ended January 3, 2026):
  - Revenue: $52.7 million
  - Net loss: $4.4 million

## Corporate information
- Incorporated in California in February 1989 as IRIS Medical Instruments, Inc.; renamed IRIDEX Corporation and reincorporated in Delaware in January 1996.
- Executive offices: 1212 Terra Bella Avenue, Mountain View, California 94043-1824
- Phone: (650) 940-4700
- Website: www.Iridex.com

IRIDEX Corporation is an ophthalmic medical technology company focusing on innovative products and procedures for treating eye conditions, particularly glaucoma and retinal diseases.

# Company Overview: IRIDEX Corporation

## Business Focus
IRIDEX Corporation is an ophthalmic medical technology company that specializes in developing and commercializing innovative products and procedures designed to treat sight-threatening eye conditions, particularly **glaucoma** and **retinal diseases**.

### Key Technologies
- **MicroPulse® Technology**: Utilizes short, microsecond-long laser pulses to minimize thermal damage by allowing tissue to cool between pulses. 
- **Endpoint Management™ Technology**: Employs a delivery algorithm to titrate laser energy, providing controlled heating for tissue-sparing treatments.

## Product Lines
- **Laser Consoles**: 
  - **Glaucoma**: Primarily the **Cyclo G6® laser system** with MicroPulse technology.
  - **Medical Retina**: Includes **IQ 532®**, **IQ 577®** laser systems with MicroPulse technology, and the **PASCAL** system with Endpoint Management technology. 
  - **Surgical Retina**: Features **OcuLight® TX** and **OcuLight® SLx** systems for treating severe retinal diseases.

- **Delivery Devices and Probes**: 
  - **Glaucoma Probes**: Patented, single-use delivery devices like **MicroPulse P3®**, **G-Probe®**, and **G-Probe Illuminate®**.
  - **Surgical Retina Probes**: Includes a range of **EndoProbe®** handpieces used in various retinal procedures.

## Market Presence
- **Geographic Reach**: Products are sold primarily in the **United States** and **Germany**, with international sales through distributors in countries such as **Italy**, **UK**, and **India**.
- **Customer Base**: The company has a diverse customer base, including hospitals, clinics, ambulatory surgical centers, and teaching institutions.
- **Sales Force**: The company employs approximately **20 direct sales personnel in the U.S.**, one in Germany, and four managing distribution worldwide.

## Financial Performance (Fiscal Year 2024)
- **Total Revenues**: $48.7 million
- **Net Loss**: $8.9 million
- **International Sales**: Accounted for **53.4%** of total revenues at approximately **$26 million**.
- **Employee Count**: As of December 28, 2024, the company had a total of **93 full-time equivalent employees**, with divisions across operations, sales, marketing, research and development, and administration.

## Strategic Focus
IRIDEX is committed to enhancing therapeutic outcomes through continuous innovation in their product offerings while leveraging their strong distribution network. The company aims to address unmet medical needs in the glaucoma and retinal markets, fostering growth and increasing shareholder value.

## Summary
IRIDEX Corporation represents a significant player in the ophthalmic medical technology sector, focusing on innovative treatments for eye diseases with a comprehensive product portfolio and a strong international presence. Despite recent financial losses, the company’s strategic initiatives and advanced technologies position it well for future growth.

IRIDEX Corporation is a leading ophthalmic medical technology company specializing in innovative laser therapies for glaucoma and retinal diseases.

# IRIDEX Corporation Overview

**Business Focus:**
IRIDEX Corporation is an ophthalmic medical technology company dedicated to developing and commercializing innovative products and procedures for treating sight-threatening conditions, particularly glaucoma and retinal diseases.

## Technologies
- **MicroPulse® Technology:** 
  - Allows low-energy, subvisible, tissue-sparing laser therapy using short, microsecond-long laser pulses.
  - Minimizes tissue damage by cooling between pulses, providing finer control of thermal elevation.
  
- **Endpoint Management™ Technology:** 
  - Uses a proprietary delivery algorithm to control laser energy delivery, allowing for precise treatment.

## Product Offerings
IRIDEX’s products include laser consoles, delivery devices, and consumable probes, with applications for:
- **Glaucoma Treatments:**
  - **Cyclo G6® Laser System:** Primarily used with MicroPulse technology.
  - **G-Probes:** Fiber-optic laser delivery devices for scleral ablation.
  
- **Medical Retina Treatments:**
  - **IQ 532® and IQ 577® Laser Systems:** Portable systems using MicroPulse technology.
  - **PASCAL System:** Integrated workstation with Endpoint Management and MicroPulse technologies for pattern scanning laser treatments.
  
- **Surgical Retina Treatments:**
  - **OcuLight® TX and OcuLight® SLx systems:** Used for various retinal procedures, including diabetic retinopathy treatment.

## Target Customers
- **Primary Users:** Ophthalmologists in hospital operating rooms, ambulatory surgical centers, and private practices.
- **Customer Base:** IRIDEX's products have been sold predominantly in the U.S. and Germany and through independent distributors worldwide.

## Financials
- **2023 Revenue:** $51.9 million
- **2022 Revenue:** $57.0 million
- **Net Loss:** 
  - 2023: $9.6 million
  - 2022: $7.5 million

## Employees
- Total Employees: **111** (as of December 30, 2023)
  - **Operations:** 45
  - **Sales and Marketing:** 38
  - **Research and Development (R&D):** 18
  - **Finance and Administration:** 10

## Market Opportunity
- Focus on the growing ophthalmology market driven by an aging population and increasing prevalence of chronic diseases.
- Glaucoma has an estimated 80-100 million treatment candidates worldwide.
- Retinal disorders affect a significant percentage, especially among diabetic patients, with projections indicating rising case numbers related to diabetes.

## Business Model
- Generates recurring revenues through the sale of laser probes and service contracts.
- Extensive investments in R&D for innovative therapies to address unmet medical needs in glaucoma and retinal disease management.

Overall, IRIDEX Corporation positions itself as a leader in the ophthalmic medical technology space, focusing on innovative laser therapies to improve patient outcomes in glaucoma and retinal diseases.

IRIDEX CORP

10-K / April 2, 2026

10-K / March 27, 2025

10-K / March 29, 2024

10-K / April 2, 2026

IRIDEX Corporation

Overview

Core technologies

Product portfolio

Revenue model

Distribution and customers

Financial highlights

Corporate information