IRIX — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-05-19

• Our overall manufacturing strategy is to continuously develop and refine our processes to achieve our objectives of continuity of supply, quality of supply and margin enhancement. Over time, this may lead to in-sourcing or outsourcing certain functions in various geographic locations to achieve our …

• Cost of revenues consists primarily of our direct manufacturing costs which include the cost of components and sub-systems, assembling, packaging, shipping and testing components at our facility, direct labor and associated overhead, warranty, royalty and amortization of intangible assets and depot …

• Research and development expenses consist primarily of personnel costs, materials to support new product development and research support provided to clinicians at medical institutions developing new applications which utilize our products and regulatory expenses. Research and development costs have…

• Current macroeconomic conditions exhibit challenges that can affect capital equipment purchasing demand and timing, including recessionary fears, tariffs and retaliatory responses, trade wars, conflicts in the Middle East, lapse in government funding, healthcare reform initiatives, unexpected change…

• Our total revenues decreased by $0.1 million, or 0.8%, from $11.9 million to $11.8 million. Revenue in our glaucoma and other revenue product groups increased, partially offset by a decrease in our retina products.

Text removed vs the prior filing · source: 10-Q · 2025-11-12

• Cost of revenues consists primarily of our direct manufacturing costs which include the cost of components and sub-systems, assembling, packaging, shipping and testing components at our facility, direct labor and associated overhead, warranty, royalty and amortization of intangible assets and depot …

• Research and development expenses consist primarily of personnel costs, materials to support new product development and research support provided to clinicians at medical institutions developing new applications, which utilize our products and regulatory expenses. Research and development costs hav…

• Current macroeconomic conditions exhibit challenges that can affect capital equipment purchasing demand and timing, including recessionary fears, inflation concerns, tariffs and retaliatory responses, trade wars, lapse in government funding, healthcare reform initiatives, heightened interest rates a…

• Our total revenues increased by $0.9 million, or 7.8%, from $11.6 million to $12.5 million. All of our product groups increased, led by probe sales in the glaucoma product group and system sales in the retina product groups.

• Gross profit decreased $0.3 million, or 7.2% from $4.3 million to $4.0 million. Gross margin decreased by 5.2% from 37.3% to 32.1%. The decrease in gross margin was driven by a $0.8 million loss on inventory write down, partially offset by shift to more favorable geographic and product mix.