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IRIX

IRIDEXNasdaqGM:IRIX Stock Report

Market Cap

US$119.5m

7D

1.9%

1Y

287.4%

Updated

23 Oct, 2021

Data

Company Financials +
IRIX fundamental analysis
Snowflake Score
Valuation2/6
Future Growth1/6
Past Performance0/6
Financial Health6/6
Dividends0/6

IRIX Overview

IRIDEX Corporation, an ophthalmic medical technology company, provides therapeutic based laser systems, delivery devices, and consumable instrumentation to treat sight-threatening eye diseases in ophthalmology.

IRIDEX Competitors

Price History & Performance

Summary of all time highs, changes and price drops for IRIDEX
Historical stock prices
Current Share PriceUS$7.55
52 Week HighUS$1.60
52 Week LowUS$9.71
Beta1.22
1 Month Change4.57%
3 Month Change14.57%
1 Year Change287.40%
3 Year Change35.55%
5 Year Change-43.11%
Change since IPO-26.34%

Recent News & Updates

Shareholder Returns

IRIXUS Medical EquipmentUS Market
7D1.9%3.0%1.7%
1Y287.4%23.1%30.3%

Return vs Industry: IRIX exceeded the US Medical Equipment industry which returned 23.1% over the past year.

Return vs Market: IRIX exceeded the US Market which returned 30.3% over the past year.

Price Volatility

Is IRIX's price volatile compared to industry and market?
IRIX volatility
IRIX Beta1.22
Industry Beta0.88
Market Beta1

Stable Share Price: IRIX is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 8% a week.

Volatility Over Time: IRIX's weekly volatility has decreased from 14% to 8% over the past year.

About the Company

FoundedEmployeesCEOWebsite
198989David Brucehttps://www.iridex.com

IRIDEX Corporation, an ophthalmic medical technology company, provides therapeutic based laser systems, delivery devices, and consumable instrumentation to treat sight-threatening eye diseases in ophthalmology. It offers laser consoles, such as Cyclo G6 laser system for use in the treatment of glaucoma; IQ 532 and IQ 577 laser photocoagulation systems, which are used for the treatment of diabetic macular edema and other retinal diseases; and OcuLight TX, OcuLight SL, OcuLight SLx, OcuLight GL, and OcuLight GLx laser photocoagulation systems that are used to treat proliferative diabetic retinopathy, macular holes, retinal tears, and detachments. The company also provides delivery devices, including TxCell scanning laser delivery system that allows the physician to perform multi-spot pattern scanning; slit lamp adapter, which allows the physician to utilize a standard slit lamp in diagnosis and treatment procedures; and laser indirect ophthalmoscope for use in procedures to treat peripheral retinal disorders.

IRIDEX Fundamentals Summary

How do IRIDEX's earnings and revenue compare to its market cap?
IRIX fundamental statistics
Market CapUS$119.53m
Earnings (TTM)-US$2.51m
Revenue (TTM)US$46.49m

2.6x

P/S Ratio

-47.5x

P/E Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
IRIX income statement (TTM)
RevenueUS$46.49m
Cost of RevenueUS$26.21m
Gross ProfitUS$20.28m
ExpensesUS$22.80m
Earnings-US$2.51m

Last Reported Earnings

Jul 03, 2021

Next Earnings Date

n/a

Earnings per share (EPS)-0.16
Gross Margin43.63%
Net Profit Margin-5.41%
Debt/Equity Ratio0%

How did IRIX perform over the long term?

See historical performance and comparison

Valuation

Is IRIDEX undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: IRIX ($7.55) is trading below our estimate of fair value ($128.1)

Significantly Below Fair Value: IRIX is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: IRIX is unprofitable, so we can't compare its PE Ratio to the US Medical Equipment industry average.

PE vs Market: IRIX is unprofitable, so we can't compare its PE Ratio to the US market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate IRIX's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: IRIX is overvalued based on its PB Ratio (4.4x) compared to the US Medical Equipment industry average (4.3x).


Future Growth

How is IRIDEX forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

46.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: IRIX is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: IRIX is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: IRIX is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: IRIX's revenue (15.5% per year) is forecast to grow faster than the US market (9.9% per year).

High Growth Revenue: IRIX's revenue (15.5% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if IRIX's Return on Equity is forecast to be high in 3 years time


Past Performance

How has IRIDEX performed over the past 5 years?

7.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: IRIX is currently unprofitable.

Growing Profit Margin: IRIX is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: IRIX is unprofitable, but has reduced losses over the past 5 years at a rate of 7.4% per year.

Accelerating Growth: Unable to compare IRIX's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: IRIX is unprofitable, making it difficult to compare its past year earnings growth to the Medical Equipment industry (36.1%).


Return on Equity

High ROE: IRIX has a negative Return on Equity (-9.36%), as it is currently unprofitable.


Financial Health

How is IRIDEX's financial position?


Financial Position Analysis

Short Term Liabilities: IRIX's short term assets ($43.7M) exceed its short term liabilities ($10.9M).

Long Term Liabilities: IRIX's short term assets ($43.7M) exceed its long term liabilities ($12.7M).


Debt to Equity History and Analysis

Debt Level: IRIX is debt free.

Reducing Debt: IRIX had no debt 5 years ago.


Balance Sheet


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: Whilst unprofitable IRIX has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level.

Forecast Cash Runway: IRIX is unprofitable but has sufficient cash runway for more than 3 years, even with free cash flow being positive and shrinking by 2.8% per year.


Dividend

What is IRIDEX current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

Notable Dividend: Unable to evaluate IRIX's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate IRIX's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if IRIX's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if IRIX's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of IRIX's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

2.4yrs

Average management tenure


CEO

David Bruce (62 yo)

2.42yrs

Tenure

US$650,922

Compensation

Mr. David I. Bruce has been President and Chief Executive Officer at IRIDEX Corporation since May 21, 2019. Mr. Bruce has been a Director of IRIDEX Corporation since April 13, 2018. He served as the Chief...


CEO Compensation Analysis

Compensation vs Market: David's total compensation ($USD650.92K) is about average for companies of similar size in the US market ($USD542.68K).

Compensation vs Earnings: David's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: IRIX's management team is considered experienced (2.4 years average tenure).


Board Members

Experienced Board: IRIX's board of directors are not considered experienced ( 2.5 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 14%.


Top Shareholders

Company Information

IRIDEX Corporation's employee growth, exchange listings and data sources


Key Information

  • Name: IRIDEX Corporation
  • Ticker: IRIX
  • Exchange: NasdaqGM
  • Founded: 1989
  • Industry: Health Care Equipment
  • Sector: Healthcare
  • Market Cap: US$119.534m
  • Shares outstanding: 15.83m
  • Website: https://www.iridex.com

Number of Employees


Location

  • IRIDEX Corporation
  • 1212 Terra Bella Avenue
  • Mountain View
  • California
  • 94043
  • United States

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/10/23 22:20
End of Day Share Price2021/10/22 00:00
Earnings2021/07/03
Annual Earnings2021/01/02


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.