Romeo R. Dizon, the chief financial officer of Iridex Corp (NASDAQ: IRIX), executed a purchase of 1,243 shares of the company's common stock on January 26, 2026, at a price of $1.52 per share. The transaction totaled $1,889. Following the acquisition, Dizon's direct ownership in Iridex stands at 106,904 shares.
The insider purchase comes against a backdrop of mixed operational and financial signals from Iridex. In preliminary unaudited results for the fourth quarter, the company reported expected revenue growth in the range of 15% to 17%, with projected revenue between $14.6 million and $14.8 million. Iridex also indicated it delivered positive cash flow in the fourth quarter and expects to report positive adjusted EBITDA for the full year 2025.
These forward-looking preliminary figures follow earlier reported third-quarter results for 2025, when Iridex recorded a net loss of $1.6 million, or $0.09 per share, which was wider than analyst expectations of a $0.06 loss per share. Revenue in that quarter totaled $12.5 million, below the projected $13.1 million.
On the clinical front, a new independent study conducted at the University Eye Clinic Maastricht evaluated the effectiveness of Iridex's MicroPulse transscleral laser technology for glaucoma retreatment. The study found reductions in intraocular pressure of approximately 25% to 35% among patients assessed, highlighting potential clinical benefits of the technology in managing glaucoma.
Taken together, the insider purchase, preliminary revenue growth, positive quarterly cash flow, and clinical study results paint a picture of a company navigating both operational challenges and technical validations. The purchase by the CFO is modest in dollar terms but increases his direct stake to 106,904 shares. The company has indicated an expectation of positive adjusted EBITDA for the full year 2025, while its most recent quarterly reporting showed a larger-than-expected loss and revenue shortfall in Q3 2025.
This set of developments underscores the varied dynamics Iridex faces in the medical technology sector, as it combines clinical evidence supporting its MicroPulse technology with ongoing efforts to return to consistent profitability.