IRIDEX (IRIX) investor relations material

Strategic vision and product innovation

• Focus on transforming laser-based eye care with innovative, non-invasive technologies for glaucoma and retinal disorders.

• Comprehensive product portfolio covers both retina and glaucoma, supported by strong clinical evidence and a global customer base.

• MicroPulse technology differentiates offerings by minimizing tissue damage and enabling repeatable treatments.

• New Pascal platform and software options enhance safety and efficacy for retina and glaucoma procedures.

• Ongoing DAME trial aims to extend visual acuity in DME patients and reduce economic burden of pharmaceutical injections.

Market opportunity and competitive landscape

• Retina business is capital equipment-driven, while glaucoma generates recurring revenue with higher margins.

• Significant replacement opportunity as nearly half of U.S. retina systems approach end of life.

• Glaucoma market expansion targets moderate and mild patients, with a $700 million opportunity outside the U.S.

• Competes with pharmaceuticals, incisional procedures, and other laser companies; recent share gains in glaucoma.

• Direct sales in the U.S., distributors internationally, and plans to expand contract manufacturing for margin improvement.

Clinical data and reimbursement

• MicroPulse and continuous wave treatments show sustained IOP reduction, with repeatable and durable results over five years.

• Recent independent studies confirm 25%-50% IOP reduction after retreatment, supporting clinical adoption.

• Stable reimbursement environment with favorable ROI for hospitals and ASCs; three cases per month can cover equipment costs.

• No anticipated changes to current CPT codes or reimbursement rates.