What is the 13F Pro Quality Score for IRIX?

13F Pro ranks IRIDEX CORP (IRIX) on the 13F Pro Quality Score, a 0–100 composite of 32 fundamental signals including return on invested capital, free cash flow consistency, balance-sheet strength, earnings quality, growth durability, and valuation discipline. The score refreshes after each 10-K and 10-Q filing on SEC EDGAR. View IRIX's current score at https://13fpro.ai/research/IRIX (free sign-up required for the full ranking).

Where does 13F Pro source IRIX data?

All IRIDEX CORP fundamentals and ownership data come directly from SEC EDGAR. IRIDEX CORP files with the SEC under CIK 1006045. 13F Pro ingests XBRL financial facts from 10-K and 10-Q filings, Form 13F-HR institutional holdings, and Form 4 insider transactions, with no third-party rewrites or estimates.

What sector is IRIX in?

IRIDEX CORP (IRIX) is classified in the Healthcare sector. 13F Pro publishes sector-level fund flow analysis and quality leaders at https://13fpro.ai/research/sector/healthcare.

How often is IRIX research updated on 13F Pro?

IRIX's fundamentals refresh within hours of each new 10-K or 10-Q filing on SEC EDGAR. Institutional ownership updates after each quarterly 13F filing window. Insider transactions update after each Form 4 filing. The 13F Pro Quality Score recalculates after every fundamentals refresh.

IRIDEX CORP(IRIX)Stock Analysis

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13F Pro Quality Score

24.3/100

Rank #2,585 of 2,879 stocks

View Healthcare peers →

Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Aug 14, 2026.

Revenue Growth

27.9/100

Profitability

28.5/100

Balance Sheet

13.1/100

Earnings Quality

30.0/100

Free Cash Flow

20.3/100

Institutional Flow

49.8/100

Revenue Scale

11.0/100

Dilution Risk

47.4/100

IRIX Stock Analysis & AI Quality Score

AI stock analysis and institutional research for IRIDEX CORP (IRIX), a Healthcare sector company. 13F Pro's AI-powered ranking engine scores IRIX at 24.3/100 on a 32-signal composite quality model, placing it at rank #2,585 of 2,879 stocks — the bottom half of the AI-ranked universe. Areas of concern include revenue scale (11.0) and balance sheet strength (13.1), which score below median versus the broader universe. Shareholder dilution risk is elevated at 47.4/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q1 2026), IRIDEX CORP reports quarterly revenue of $11.8M, net income of $-524.0K, an operating margin of -2.8%. Top institutional holders of IRIX by reported 13-F value include PARAGON ASSOCIATES & PARAGON ASSOCIATES II JOINT VENTURE, VANGUARD CAPITAL MANAGEMENT, RENAISSANCE TECHNOLOGIES, based on the most recent SEC filings. IRIX trades on the Nasdaq exchange and files with the SEC under CIK 1006045. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate IRIX daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for IRIDEX CORP directly from SEC EDGAR. IRIDEX CORP's 13F Pro composite quality score has ranged between 15 and 39 since 2021, currently 24.3 — an improving long-term trajectory across 28 quarterly and live scoring snapshots.

✦

Fun facts about IRIDEX CORP

Quirks, history, and lore behind IRIX — the kind of stuff that makes a stock memorable.

1
The Basics
A small-cap U.S. medical device company listed on Nasdaq and headquartered in California's Bay Area.
2
The Numbers
Annual revenue in the range of roughly $50 million — a niche player, not a giant — serving a very focused slice of the ophthalmology market.
3
The History
Founded in the 1980s, the company built its reputation around laser-based treatments at a time when zapping things with lasers in medicine still sounded like science fiction.
4
The Secret
Its core technology uses low-power laser energy to treat retinal conditions without the scarring associated with traditional photocoagulation — gentler by design.
5
The Lore
Its flagship platform targets conditions like diabetic retinopathy and glaucoma, two of the leading causes of blindness worldwide — small company, big-stakes diseases.
6
The Giveaway
The ticker spells out IRIdium — fitting for a company whose whole identity is shooting precise laser beams into human eyes to save people's sight.

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Revenue

Q1 2026

$11.8M

Net Income

Q1 2026

$-524.0K

Free Cash Flow

Q1 2026

$-1.4M

Operating Margin

Q1 2026

-2.8%

Revenue & Net Income

Earnings Per Share

Key Financials Over Time

Export Financial Table · Pro+

Revenue

+8.2% YoY

$52.7MFY 2025

FY21 $53.9MFY23 $51.9MFY24 $48.7MFY25 $52.7M

Net Income

+50.2% YoY

$-4.4MFY 2025

FY21 $-5.2MFY23 $-9.6MFY24 $-8.9MFY25 $-4.4M

Operating Income

+69.0% YoY

$-2.6MFY 2025

FY21 $-7.5MFY23 $-10.0MFY24 $-8.3MFY25 $-2.6M

EPS (Diluted)

+51.9% YoY

$-0.26FY 2025

FY21 $-0.34FY23 $-0.59FY24 $-0.54FY25 $-0.26

Total Assets

+0.1% YoY

$29.2MFY 2025

FY21 $48.7MFY23 $34.4MFY24 $29.1MFY25 $29.2M

Total Debt

—FY 2025

FY21 —FY23 —FY24 $2.7MFY25 —

Op. Cash Flow

+71.0% YoY

$-2.1MFY 2025

FY21 $8.2MFY23 $-6.7MFY24 $-7.3MFY25 $-2.1M

Metric	FY 2025	FY 2024	FY 2023	FY 2021	FY 2020	FY 2019
Revenue	$52.7M +8.2%	$48.7M -6.2%	$51.9M -3.8%	$53.9M +48.3%	$36.3M -16.3%	$43.4M
Net Income	$-4.4M +50.2%	$-8.9M +6.9%	$-9.6M -83.2%	$-5.2M +17.4%	$-6.3M +28.2%	$-8.8M
Operating Income	$-2.6M +69.0%	$-8.3M +17.0%	$-10.0M -32.8%	$-7.5M -14.4%	$-6.6M +26.6%	$-9.0M
EPS (Diluted)	$-0.26 +51.9%	$-0.54 +8.5%	$-0.59 -73.5%	$-0.34 +26.1%	$-0.46 +28.1%	$-0.64
Total Assets	$29.2M +0.1%	$29.1M -15.4%	$34.4M -29.3%	$48.7M +74.1%	$28.0M -19.7%	$34.8M
Total Debt	—	$2.7M	—	—	$2.5M	—
Operating Cash Flow	$-2.1M +71.0%	$-7.3M -8.0%	$-6.7M -182.1%	$8.2M +353.8%	$-3.2M +59.1%	$-7.9M

AI Insight: IRIX Financial Trends

IRIX remains unprofitable with stagnant $12–14M quarterly revenue and negative operating cash flow; equity stabilized near $5M but debt re-emerged.

• Revenue flat at $12–14M across eight quarters (Q2 2024–Q2 2026); no growth trajectory evident.

• Net losses narrowed from $3M (Q2 2024) to $1M (Q2 2026), though company remains unprofitable.

• Operating cash flow consistently negative (−$1M to −$3M per quarter); no free cash generation.

⚠ Debt reappeared at $3M in Q2 2026 after absent for four quarters; equity has halved from $4M (Q2 2024) to $5M.

⚠ Operating income near breakeven ($0M) in latest two quarters; path to sustainable profitability unclear.

AI Insight: IRIX Ratio Trends

IRIX stabilizing from deep losses: operating margin improved to -2.8% in Q2 2026, best result in eight quarters, though profitability remains negative.

• Operating margin recovered from -11.3% in Q3 2025 to -2.8% in Q2 2026, narrowing loss trajectory across recent quarters.

• Net profit margin improved to -4.4% in Q2 2026 from -12.6% in Q3 2025, showing sequential profitability gains.

• Return on assets enhanced to -7.4% in Q2 2026 from -22.2% in Q3 2025, indicating better capital efficiency despite negative returns.

• Debt-to-equity reduced to 0.55x in Q1 2026 from 1.29x in Q4 2024, strengthening balance sheet leverage position.

⚠ Company remains unprofitable with negative margins; Q2 2026 shows improvement but not yet breakeven—sustainability unclear.

⚠ ROIC deteriorated to -27.4% in Q2 2026 from -62.1% in Q2 2025; mixed recovery signals warrant monitoring.

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Available Research

13F Pro tracks comprehensive data for IRIDEX CORP including:

SEC EDGAR filings (10-K, 10-Q, 8-K)

XBRL financial facts (revenue, EPS, margins)

Insider transactions (Form 4)

Institutional 13F holdings

Quality rankings (32 signals)

AI analyst debates & daily meetings

Historical financial trends

Peer comparison & sector analysis

Top Institutional Holders of IRIX

PARAGON ASSOCIATES & PARAGON ASSOCIATES II JOINT VENTURE
$1.0M1,000,000 sh
VANGUARD CAPITAL MANAGEMENT LLC
$519.7K514,593 sh
RENAISSANCE TECHNOLOGIES LLC
$400.6K396,627 sh
WEBER CAPITAL MANAGEMENT LLC /ADV
$262.2K259,558 sh
GEODE CAPITAL MANAGEMENT, LLC
$161.8K160,159 sh
CITADEL ADVISORS LLC
$61.5K60,851 sh
VANGUARD FIDUCIARY TRUST CO
$60.8K60,155 sh
UNITED CAPITAL FINANCIAL ADVISORS, LLC
$58.1K57,529 sh
PERKINS CAPITAL MANAGEMENT INC
$55.9K55,300 sh
THOMPSON DAVIS & CO., INC.
$47.9K47,444 sh

Fund	Value	Shares
PARAGON ASSOCIATES & PARAGON ASSOCIATES II JOINT VENTURE	$1.0M	1,000,000
VANGUARD CAPITAL MANAGEMENT LLC	$519.7K	514,593
RENAISSANCE TECHNOLOGIES LLC	$400.6K	396,627
WEBER CAPITAL MANAGEMENT LLC /ADV	$262.2K	259,558
GEODE CAPITAL MANAGEMENT, LLC	$161.8K	160,159
CITADEL ADVISORS LLC	$61.5K	60,851
VANGUARD FIDUCIARY TRUST CO	$60.8K	60,155
UNITED CAPITAL FINANCIAL ADVISORS, LLC	$58.1K	57,529
PERKINS CAPITAL MANAGEMENT INC	$55.9K	55,300
THOMPSON DAVIS & CO., INC.	$47.9K	47,444

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Is IRIX a good stock to buy?

13F Pro's AI-powered analysis of IRIDEX CORP (IRIX) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Healthcare sector (listed on Nasdaq). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for IRIX are available on the IRIX stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing.

Which hedge funds own IRIX?

Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling IRIX. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of IRIDEX CORP's investment landscape.