Iridex Revenues Drop 12 Percent in Q1-2017

May 12, 2017: By Jon Swedien

iridex-1x1Iridex reported May 3 that its Q1-2017 revenues totaled $10.5 million, a 12 percent decrease from Q1-2016 sales of $11.9 million.

The decline was primarily due to lower medical and surgical retinal product revenues, Iridex said. The Mountain View, California, company manufactures laser-based medical systems, delivery devices, and consumable instrumentation for ophthalmology.

“While our first quarter was marked by lower-than-expected financial results, we made significant progress towards the commercialization of the G6 platform,” said William Moore, Iridex president and CEO.

Iridex sold 64 Cyclo G6 laser systems in Q1-2017 and shipped approximately 6,600 single-use G6 probes. Iridex continues to anticipate sales of 400 to 450 G6 systems in 2017 but currently expects the number of G6 probes shipped to range from 35 thousand to 40 thousand, the company said.

Need Deeper Analysis? Sign up for Market Scope's monthly newsletter to get in-depth coverage of the ophthalmic market, including quarterly procedure volumes based on survey data and meeting coverage from around the world.

Recent Ophthalmic News

US Health Secretary Alex Azar Takes Aim at Rebates in US Senate Hearing

Beyeonics Surgical Raises $11.5 Million in Initial Funding Round

MeiraGTx Raises $75 Million in Initial Public Offering

GenSight to Pursue Approval for LHON Gene Therapy Candidate, Despite Phase III Setback

Optovue Receives FDA Clearance for AngioAnalytics, First OCT Angiography Metrics

Nexy Robotic Retinal Imaging System Receives FDA Clearance

Ocutrx Receives US Patent for Oculenz AR Glasses for Macular Degeneration

Allergan’s Bimatoprost SR Demonstrates Noninferiority to Timolol in Phase III Glaucoma Study

KKR to acquire Envision Healthcare, Including Amsurg ASC Business

Ophthalmologist Carmen Puliafito, MD, Seeks to Regain Medical License

Avedro Gains J Code for Photrexa Formulations in Preliminary CMS Decision

EyeGate Seeks to Study Ocular Bandage Gel in Punctate Epitheliopathy

Nicox, Ironwood to Collaborate on Novel Ophthalmic Treatments

US FDA Approves MDGH’s Moxidectin for Treatment of River Blindness

Bausch + Lomb Enrolls First Patient in Trial for enVista MX60EF Trifocal IOL

Cincinnati Eye Institute Partners with Private Equity Firm to Pursue National Expansion

Ophthotech Enters Gene Therapy Deals with University of Florida, University of Pennsylvania

Teva’s Launches Generic Version of Restasis in Canada

Clearside’s Phase II Trial for DME Candidate Meets Primary Endpoint

Orasis Raises $13 Million in Series B Financing

Coming soon

2018 Optical Coherence Tomography Report: A Global Market Analysis for 2017 to 2023