Iridex Reports Q4 2024 Loss, Plans Growth Strategy

Iridex Corporation reported its financial results for the fourth quarter and full year of 2024, highlighting a positive adjusted EBITDA and a 24% reduction in operating expenses. The company generated $12.7 million in revenue for Q4, driven in part by its Cyclo G6® product family, which contributed $3.3 million. Despite facing a decrease in total revenue for the year, from $51.9 million in 2023 to $48.7 million in 2024, Iridex improved its net loss to $8.9 million from $9.6 million the previous year. The company also secured a $10 million strategic investment to bolster its market position and plans to preannounce its Q1 2025 results in April, aiming for continued financial improvement. Management expressed optimism about achieving cash flow breakeven and maintaining positive EBITDA in 2025. Iridex is exploring new product opportunities and leveraging its international distribution capabilities for future growth.