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IRIDEX (IRIX)

Iridex Corporation is a worldwide leader in developing, manufacturing, and marketing innovative and versatile laser-based medical systems, delivery devices and consumable instrumentation for the ophthalmology market. The Company's proprietary MicroPulse® technology delivers a differentiated treatment that provides safe, effective, and proven treatment for targeted sight-threatening eye conditions. Iridex's current product line is used for the treatment of glaucoma and diabetic macular edema (DME) and other retinal diseases. Iridex products are sold in the United States through a direct sales force and internationally primarily through a network of independent distributors into more than 100 countries.

IRIX stock data

Calendar

15 Aug 22
16 Aug 22
31 Dec 22
Quarter (USD) Jul 22 Apr 22 Jan 22 Oct 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Jan 22 Jan 21 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 17.97M 17.97M 17.97M 17.97M 17.97M
Cash burn (monthly) 885K 691.08K 741.33K 764.92K 469.58K
Cash used (since last report) 1.32M 1.03M 1.1M 1.14M 699.5K
Cash remaining 16.65M 16.94M 16.86M 16.83M 17.27M
Runway (months of cash) 18.8 24.5 22.7 22.0 36.8

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
30 Jul 22 Patrick Mercer Common Stock Payment of exercise Dispose F No No 3.01 71 213.71 51,927
4 Jul 22 Bruce David Common Stock Payment of exercise Dispose F No No 2.47 4,640 11.46K 93,388
4 Jul 22 Patrick Mercer Common Stock Payment of exercise Dispose F No No 2.47 2,016 4.98K 51,998
1 Jul 22 Bruce David Common Stock Payment of exercise Dispose F No No 2.47 5,379 13.29K 98,028
1 Jul 22 Patrick Mercer Common Stock Payment of exercise Dispose F No No 2.47 1,460 3.61K 54,014
30 Jun 22 Bruce David Common Stock Payment of exercise Dispose F No No 2.57 3,227 8.29K 103,407
30 Jun 22 Patrick Mercer Common Stock Payment of exercise Dispose F No No 2.57 1,728 4.44K 55,474
30 Jun 22 Patrick Mercer Common Stock Payment of exercise Dispose F No No 2.57 72 185.04 57,202
15 Jun 22 Beverly A Huss Common Stock Grant Acquire A No No 0 27,472 0 27,472
15 Jun 22 Nandini Devi Common Stock Grant Acquire A No No 0 27,472 0 37,892
45.9% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 35 37 -5.4%
Opened positions 4 8 -50.0%
Closed positions 6 3 +100.0%
Increased positions 12 12
Reduced positions 6 6
13F shares Current Prev Q Change
Total value 35.81M 40.21M -11.0%
Total shares 7.3M 7.13M +2.4%
Total puts 0 0
Total calls 0 42K EXIT
Total put/call ratio
Largest owners Shares Value Change
Topcon America 1.62M $11.81M 0.0%
North Tide Capital 760.07K $1.91M 0.0%
Wyers Point Master 744.3K $1.27M 0.0%
Paragon Associates & Paragon Associates Ii Joint Venture 562.67K $2.61M +13.1%
Vanguard 556.96K $2.58M -0.4%
Renaissance Technologies 546.81K $2.53M -2.9%
BlueLine Capital Partners 493.67K $3.79M 0.0%
Bridgeway Capital Management 319.4K $1.48M 0.0%
Essex Investment Management 306.99K $1.42M +39.7%
Dimensional Fund Advisors 240.73K $1.12M +4.0%
Largest transactions Shares Bought/sold Change
Essex Investment Management 306.99K +87.24K +39.7%
Paragon Associates & Paragon Associates Ii Joint Venture 562.67K +65.33K +13.1%
Blair William & Co 0 -60K EXIT
Punch & Associates Investment Management 153.5K +43.48K +39.5%
Millennium Management 19.3K +19.3K NEW
Renaissance Technologies 546.81K -16.35K -2.9%
Two Sigma Investments 0 -15.1K EXIT
MKFCF Mackenzie Financial 12.04K +12.04K NEW
Isthmus Partners 227.12K +12.02K +5.6%
Dimensional Fund Advisors 240.73K +9.36K +4.0%

Financial report summary

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Risks
  • We face quality control and other production issues that could materially and adversely impact our sales and financial results and the acceptance of our products.
  • Some of our laser systems are complex in design and may contain defects that are not detected until deployed by our customers, which could increase our costs and reduce our revenues.
  • We rely on our direct and independent sales forces and international distributors to sell our products and if we lose our sales force or distributor relationships, it could harm our business.
  • Growth in our sales and marketing organization may create operational challenges without immediately offsetting benefits.
  • We depend on international sales for a significant portion of our operating results.
  • If we fail to develop and successfully introduce new products and applications or fail to improve our existing products, our business prospects and operating results may suffer.
  • We are exposed to risks associated with worldwide economic slowdowns and related uncertainties.
  • Our operating results may fluctuate from quarter to quarter and year to year.
  • We rely on continued market acceptance of our existing products and any decline in sales of our existing products would adversely affect our business and results of operations.
  • We face strong competition in our markets and expect the level of competition to grow in the foreseeable future.
  • Our operating results may be adversely affected by uncertainty regarding healthcare reform measures and changes in third-party coverage and reimbursement policies.
  • If we fail to comply with healthcare laws, we could face substantial penalties and financial exposure, and our business, operations and financial condition could be adversely affected.
  • We depend on collaborative relationships to develop, introduce and market new products, product enhancements and new applications.
  • If we fail to manage growth effectively, our business could be disrupted which could harm our operating results.
  • We rely on patents and proprietary rights to protect our intellectual property and business.
  • If we lose key personnel or fail to integrate replacement personnel successfully, our ability to manage our business could be impaired.
  • Efforts to acquire additional companies or product lines may divert our managerial resources away from our business operations, and if we complete additional acquisitions, we may incur or assume additional liabilities or experience integration problems.
  • We depend on sole source or limited source suppliers.
  • If our facilities were to experience catastrophic loss, our operations would be seriously harmed.
  • If we fail to maintain our relationships with health care providers, customers may not buy our products and our revenue and profitability may decline. At the same time, relationships with these individuals and entities are the subject of heightened scrutiny and may present the potential for healthcare compliance risks.
  • We are subject to government regulations which may cause us to delay or withdraw the introduction of new products or new applications for our products.
  • Any clinical trials necessary that we may undertake for regulatory approval or marketing reasons will be an expensive, lengthy, costly, and uncertain process, and could result in delays in new product introductions or even an inability to release a product.
  • If we fail to comply with the FDA’s quality system regulation and laser performance standards, our manufacturing operations could be halted, and our business would suffer.
  • Our products may be misused, which could harm our reputation and our business.
  • Inability of customers to obtain credit or material increases in interest rates may harm our sales.
  • Our products could be subject to recalls even after receiving FDA approval or clearance. A recall would harm our reputation and adversely affect our operating results.
  • Changes in U.S. tax laws could have a material adverse effect on our business, cash flow, results of operations or financial conditions.
  • We are subject to federal, state and foreign laws governing our business practices which, if violated, could result in substantial penalties. Additionally, challenges to or investigation into our practices could cause adverse publicity and be costly to respond to and thus could harm our business.
  • Our ability to raise capital in the future may be limited, and future sales and issuances of securities could negatively affect our stock price and dilute the ownership interest of our existing investors.
  • Divestitures of some of our businesses or product lines may materially and adversely affect our financial condition, results of operations or cash flows and require us to raise additional capital to replace revenue from those business units or product lines.
  • Our stock price has been and may continue to be volatile and an investment in our common stock could suffer a decline in value.
  • Because we do not intend to pay dividends, stockholders will benefit from an investment in our common stock only if it appreciates in value.
  • If securities or industry analysts do not continue to publish research or publish incorrect or unfavorable research about our business, our stock price and trading volume could decline.
  • Ownership of our common stock is concentrated among a few investors, which may affect the ability of a third party to acquire control of us. Substantial sales by such investors could cause our stock price to decline.
  • Our charter documents, anti-takeover provisions of Delaware law, and contractual provisions could delay or prevent an acquisition or sale of our company.

Content analysis

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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. freshman Good
New words: committed, flat, Fourth, revolving
Removed: April, derived, inclusion

Patents

Utility
Photomedical treatment system and method with a virtual aiming device
9 Aug 22
A photomedical system and method for treating and/or diagnosing a patient's eye that includes a first light source for producing light, a scanning device for deflecting the light to produce a pattern of the light on the eye, a viewing element positioned to view the eye by a user or physician, and an alignment element aligned to the viewing element and the scanning device for optically indicating through the viewing element a location on the eye on which the pattern of the light will be located, but without projecting any alignment light onto the eye.
Utility
Methods and Systems for Large Spot Retinal Laser Treatment
21 Jul 22
In some embodiments, a system for providing a therapeutic treatment to a patient's eye includes a treatment beam source configured to transmit a treatment beam along a treatment beam path.
Utility
Methods and Probes for Intrascleral Laser Surgery
9 Jun 22
Methods of treating an eye are provided that entail partially penetrating the sclera and delivering light energy from an optical fiber within the penetration to treat the a target tissue in the eye, for example, to coagulate vasculature underlying the sclera within a planned incision area.
Utility
Probes having fiber taper and fluid collection channel for ophthalmic laser treatment
7 Jun 22
A treatment probe for treating an eye of a patient includes an elongate body that defines a handle and a treatment fiber that is housed within the elongate body.
Utility
Methods and systems for large spot retinal laser treatment
3 May 22
In some embodiments, a system for providing a therapeutic treatment to a patient's eye includes a treatment beam source configured to transmit a treatment beam along a treatment beam path.