IRIDEX Corporation

Iridex reaffirmed its full-year 2026 revenue guidance of $51 million to $53 million, excluding Middle East revenue, while reporting second-quarter revenue of $12.6 million, down 7% from $13.6 million a year earlier. CEO Patrick Mercer said the company generated positive cash flow in the quarter and has begun relocating its headquarters, which will require new product registrations and managing global registration blackout periods. The company is building safety stock inventory to maintain supply continuity, which will reduce cash on hand through 2026 before reversing into a cash tailwind in 2027. Retina product revenue fell to $6.5 million from $8.0 million, while glaucoma probe sales grew 19% to $3.9 million. Net loss was $1.3 million, or $0.07 per share, and cash and equivalents ended the quarter at $4.7 million.