IRIDEX (IRIX) Planet MicroCap Las Vegas 2026 summary

Strategic vision and market positioning

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

• Maintains strong clinical credibility and a global presence in over 100 countries.

• Product portfolio spans retina (capital equipment, 22% recurring revenue) and glaucoma (recurring revenue) markets.

• Achieved positive cash flow operations and EBITDA in 2025, with ongoing efforts to sustain growth.

• Emphasizes the razor blade model for glaucoma probes, targeting increased utilization and early-stage treatment.

Product innovation and clinical data

• PASCAL and IQ laser platforms, along with legacy lasers, offer comprehensive retina solutions; new features drive replacement demand.

• MicroPulse TLT is gaining adoption for its safety, efficacy, and repeatability in glaucoma treatment.

• Clinical studies show >50% IOP reduction over 12 months and sustained efficacy over five years with low complication rates.

• MicroPulse and continuous wave treatments are repeatable, supporting longitudinal glaucoma management.

• DAME trial highlights MicroPulse's potential to reduce pharmaceutical injections for diabetic macular edema.

Market opportunities and competitive landscape

• Retina market growth driven by diabetic eye disease and aging populations; over 8 million retina laser procedures annually.

• U.S. retina systems nearing end of service create significant replacement opportunities.

• Glaucoma market opportunity is large, with 2.1 million moderate patients in the U.S. and a $700 million probe opportunity internationally.

• Medicare LCD changes have limited MIGS reimbursement, creating a tailwind for non-incisional laser therapies.

• Stable reimbursement and favorable ROI for Cyclo G6 laser support broader adoption.