Romeo R. Dizon, the Chief Financial Officer of IRIDEX Corp (NASDAQ: IRIX), reported a purchase of 1,300 shares of the firm's common stock on January 28, 2026, according to a Form 4 filing with the Securities and Exchange Commission. The shares were acquired at $1.46 apiece, bringing the total consideration for the transaction to $1,898.
Following the purchase, the filing shows Dizon now holds 111,589 shares directly. The purchase coincides with a year-to-date share gain of 34.21% for IRIDEX, although InvestingPro indicates the stock is still trading below its InvestingPro Fair Value estimate.
IRIDEX, a medical technology company listed under the ticker IRIX, has a market capitalization of $25.44 million and is scheduled to report quarterly results on March 5, 2026. InvestingPro analysis, cited in the company update, points to ongoing cash consumption and a lack of profitability over the trailing twelve months.
Quarterly operating snapshot
Earlier company disclosures included preliminary, unaudited revenue results for the fourth quarter, with management estimating revenue between $14.6 million and $14.8 million. That range represents an increase of 15% to 17% compared with the same quarter a year earlier. IRIDEX also reported that the quarter produced positive cash flow and that the company expects to post positive adjusted EBITDA for the full year of 2025.
Those preliminary results follow a more challenging Q3 2025. In the third quarter, IRIDEX recorded a net loss of $1.6 million, or $0.09 per share, which missed analyst expectations of a $0.06 loss per share. Revenue in Q3 was $12.5 million, short of the $13.1 million many analysts had forecast.
Clinical data cited
Separately, an independent study published in the journal Ophthalmology and Therapy evaluated IRIDEX's MicroPulse transscleral laser technology for glaucoma retreatment. Conducted at the University Eye Clinic Maastricht, the study reported reductions in intraocular pressure of 25% to 35% among patients three months after retreatment.
What this means
The insider purchase by the CFO is modest in dollar terms relative to IRIDEX's market capitalization. The company is presenting a mixed operational picture: accelerating quarter-over-quarter revenue growth and positive cash flow in the fourth quarter, against a backdrop of trailing twelve-month losses and earlier quarterly misses. Investors will have an opportunity to reassess when IRIDEX releases full results on March 5, 2026.
Summary
IRIDEX's finance chief bought 1,300 shares on January 28 for $1,898 total, bringing his direct holdings to 111,589 shares. The stock has gained 34.21% year-to-date but remains below its InvestingPro Fair Value. Management provided preliminary Q4 revenue guidance showing 15-17% growth year-over-year, reported positive Q4 cash flow, and expects positive adjusted EBITDA for 2025, while InvestingPro notes the company has been burning cash and was not profitable over the last twelve months.
Key points
- Insider activity: CFO Romeo R. Dizon purchased 1,300 shares at $1.46 each on January 28, 2026, totaling $1,898; his post-transaction direct holdings are 111,589 shares.
- Financial snapshot: Preliminary Q4 revenue is estimated at $14.6 million to $14.8 million, up 15-17% year-over-year; the quarter generated positive cash flow and the company expects positive adjusted EBITDA for 2025.
- Market context: IRIDEX shares are up 34.21% year-to-date but still trade below InvestingPro's Fair Value; the company carries a market capitalization of $25.44 million and will report earnings on March 5, 2026.
Risks and uncertainties
- Profitability and cash flow - InvestingPro indicates IRIDEX has been burning through cash and was not profitable over the last twelve months, creating ongoing financial risk for the small-cap medical technology firm; this affects the healthcare equipment and small-cap equity sectors.
- Historic execution gaps - In Q3 2025 IRIDEX missed analyst expectations, recording a $1.6 million net loss and reporting revenue below forecasts, demonstrating execution and forecasting risk for investors in medical device stocks.
- Size and liquidity - With a market capitalization of $25.44 million, IRIDEX is a small-cap company, which can mean limited liquidity and greater share-price volatility in equity markets.