IRIDEX Corp. Files 2023 10-K
Ticker: IRIX · Form: 10-K · Filed: Mar 29, 2024 · CIK: 1006045
| Field | Detail |
|---|---|
| Company | Iridex Corp (IRIX) |
| Form Type | 10-K |
| Filed Date | Mar 29, 2024 |
| Risk Level | medium |
| Pages | 15 |
| Reading Time | 17 min |
| Key Dollar Amounts | $0.01, $51.9 million, $57.0 m, $9.6 million, $7.5 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-K, annual-report, financials
TL;DR
IRIDEX 2023 10-K is in. Financials for R&D, shipping, admin detailed. Check it out.
AI Summary
IRIDEX Corp. filed its 2023 10-K on March 29, 2024, detailing its financial performance for the fiscal year ending December 30, 2023. The company, headquartered at 1212 Terra Bella Ave, Mountain View, CA, operates in the electromedical and electrotherapeutic apparatus industry. The filing covers various financial aspects, including research and development expenses, shipping and handling costs, and general administrative expenses for the fiscal years 2022 and 2023.
Why It Matters
This filing provides investors and stakeholders with a comprehensive overview of IRIDEX Corp.'s financial health and operational activities for the past fiscal year, crucial for investment decisions.
Risk Assessment
Risk Level: medium — The filing is a standard annual report and does not inherently indicate new or elevated risks.
Key Numbers
- 1212 TERRA BELLA AVE — Business Address (Headquarters location)
- 20231230 — Fiscal Year End (Reporting period)
- 20240329 — Filing Date (Date of submission)
Key Players & Entities
- IRIDEX CORP (company) — Filer of the 10-K
- 1212 TERRA BELLA AVE, MOUNTAIN VIEW, CA 94043 (location) — Business and mailing address
- 20231230 (date) — Fiscal year end
- 20240329 (date) — Filing date
FAQ
What were IRIDEX Corp.'s total revenues for the fiscal year ending December 30, 2023?
The provided text does not contain specific revenue figures for the fiscal year ending December 30, 2023.
What is the primary industry in which IRIDEX Corp. operates?
IRIDEX Corp. operates in the ELECTROMEDICAL & ELECTROTHERAPEUTIC APPARATUS industry, SIC code 3845.
When was the 10-K filing submitted to the SEC?
The 10-K filing was submitted on March 29, 2024.
What is IRIDEX Corp.'s fiscal year end date?
IRIDEX Corp.'s fiscal year ends on December 31st.
What are some of the expense categories detailed in the filing for the fiscal years 2022 and 2023?
The filing details Research and Development Expense, Shipping and Handling, and General and Administrative Expense for the fiscal years 2022 and 2023.
Filing Stats: 4,365 words · 17 min read · ~15 pages · Grade level 15.7 · Accepted 2024-03-29 16:13:20
Key Financial Figures
- $0.01 — ch Registered Common Stock, par value $0.01 per share IRIX Nasdaq Global Market
- $51.9 million — s. Total revenues in 2023 and 2022 were $51.9 million and $57.0 million, respectively. We gen
- $57.0 m — in 2023 and 2022 were $51.9 million and $57.0 million, respectively. We generated net l
- $9.6 million — espectively. We generated net losses of $9.6 million and $7.5 million in 2023 and 2022, resp
- $7.5 million — enerated net losses of $9.6 million and $7.5 million in 2023 and 2022, respectively. 5 I
Filing Documents
- irix-20231230.htm (10-K) — 2368KB
- irix-ex3_1.htm (EX-3.1) — 17KB
- irix-ex21_1.htm (EX-21.1) — 3KB
- irix-ex23_1.htm (EX-23.1) — 3KB
- irix-ex31_1.htm (EX-31.1) — 15KB
- irix-ex31_2.htm (EX-31.2) — 15KB
- irix-ex32_1.htm (EX-32.1) — 6KB
- irix-ex32_2.htm (EX-32.2) — 6KB
- irix-ex97_1.htm (EX-97.1) — 51KB
- img228203280_0.jpg (GRAPHIC) — 1KB
- img228203280_1.jpg (GRAPHIC) — 1KB
- 0000950170-24-038650.txt ( ) — 10931KB
- irix-20231230.xsd (EX-101.SCH) — 1561KB
- irix-20231230_htm.xml (XML) — 2067KB
Business
Item 1. Business 5
Risk Factors
Item 1A. Risk Factors 18
Unresolved Staff Comments
Item 1B. Unresolved Staff Comments 37
Cybersecurity
Item 1C. Cybersecurity 37
Properties
Item 2. Properties 38
Legal Proceedings
Item 3. Legal Proceedings 38
Mine Safety Disclosures
Item 4. Mine Safety Disclosures 38 Part II 39
Market for Registrant's Common Equity and Related Stockholder Matters, and Issuer Purchases of Equity Securities
Item 5. Market for Registrant's Common Equity and Related Stockholder Matters, and Issuer Purchases of Equity Securities 39
[Reserved]
Item 6. [Reserved] 39
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 40
Quantitative and Qualitative Disclosures About Market Risk
Item 7A. Quantitative and Qualitative Disclosures About Market Risk 47
Financial Statements and Supplementary Data
Item 8. Financial Statements and Supplementary Data 47
Changes in and Disagreements with Accountants on Accounting and Financial Disclosure
Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 74
Controls and Procedures
Item 9A. Controls and Procedures 74
Other Information
Item 9B. Other Information 75
Disclosure Regarding Foreign Jurisdictions that Prevent Inspections
Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 75 Part III 76
Directors, Executive Officers and Corporate Governance
Item 10. Directors, Executive Officers and Corporate Governance 76
Executive Compensation
Item 11. Executive Compensation 76
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters
Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 76
Certain Relationships and Related Transactions, and Director Independence
Item 13. Certain Relationships and Related Transactions, and Director Independence 76
Principal Accountant Fees and Services
Item 14. Principal Accountant Fees and Services 76 Part IV 77
Exhibits and Financial Statement Schedules
Item 15. Exhibits and Financial Statement Schedules 77
Signatures
Signatures 82 4 P ART I I tem 1. Business Overview IRIDEX Corporation ("Iridex") is an ophthalmic medical technology company focused on the development and commercialization of breakthrough products and procedures used to treat sight-threatening eye conditions, including glaucoma and retinal diseases. Our propriety MicroPulse Technology and Endpoint Management Technology are used for the treatment of glaucoma and retina disorders. Both technologies are offered as optional treatment modes in select laser consoles in addition to the standard continuous-wave ("CW") treatment mode. They allow low-energy, subvisible, tissue-sparing laser therapy by different means: MicroPulse technology uses short, microsecond-long laser pulses that allow tissue to cool between pulses giving physicians finer control of thermal elevation to minimize tissue damage. Endpoint Management technology uses a delivery algorithm to titrate the laser energy. CW laser photocoagulation can stabilize vision over the long term but can also result in varying degrees of vision loss. Both MicroPulse and Endpoint Management technologies have demonstrated clinical efficacy with a safer profile compared to standard high-energy CW laser for the treatment of both retinal diseases and glaucoma. Our products consist of laser consoles, delivery devices and consumable probes. Our laser consoles consist of the following product lines: Glaucoma – Our primary glaucoma console line is the Cyclo G6 laser system with MicroPulse technology. In addition, our medical retina consoles have features supporting glaucoma laser treatments. Medical Retina – Our medical-retina product line includes our portable IQ 532 and IQ 577 laser systems with MicroPulse technology; and the Pattern Scanning Laser ("PASCAL") System, an integrated workstation with Endpoint Management technology and MicroPulse technology. These systems are ideal for multispecialty practices because these lasers also can be used to treat glau