IRIDEX Corp. on Tuesday posted a second-quarter loss that exceeded analyst forecasts and revenue below consensus estimates, extending a period of underperformance for the medical device manufacturer.
The company reported a loss of 7 cents per share for the quarter ended June 30, compared with a projected loss of 2 cents per share. Revenue totaled $12.6 million, falling short of the $14.13 million consensus estimate.
The results marked a deterioration from the prior-year period, when IRIDEX reported a loss of 5 cents per share on revenue of $13.5 million. The company’s stock closed Tuesday at $0.93, down 7.92% over the past three months and down 19.48% over the past 12 months.
Analysts tracked by Investing.com had issued no positive earnings-per-share revisions for IRIDEX over the last 90 days, while one downward revision was recorded. The company’s financial health was rated as "fair performance" by InvestingPro.
IRIDEX, which develops ophthalmic laser systems and related technologies, continues to face competitive and operational challenges in its core markets. The company’s performance has lagged broader sector trends in recent quarters, with no analyst upgrades recorded in the latest review period.
