IRIDEX (IRIX) Lytham Partners Spring 2026 Investor Conference summary

Vision and mission

• Aims to transform laser-based eye care to preserve sight and improve quality of life for patients with ophthalmic conditions globally.

• Focuses on delivering innovative, clinically proven, non-invasive laser technologies for retinal diseases and glaucoma.

Product portfolio and market position

• Offers a broad portfolio for retina and glaucoma, including PASCAL, IQ lasers, MicroPulse, and Cyclo G6 platforms.

• Retina business is primarily capital equipment, with high-margin disposable probes; glaucoma is a recurring revenue business.

• Achieved profitability in Q4 2025, with $53 million revenue in 2025 and strong direct margins in both segments.

Market opportunities and clinical advantages

• Global presence in over 100 countries, with significant replacement opportunity as U.S. retina install base ages.

• MicroPulse technology reduces thermal damage and visual scarring, offering clinical advantages over traditional laser therapy.

• EndoProbe line and single-use devices drive recurring revenue and enhance surgical precision.