Iridex Valuation Multiples

Iridex Overview

About Iridex

IRIDEX Corp is involved in the business of developing, manufacturing, and marketing laser-based medical systems, delivery devices, and consumable instrumentation for ophthalmology. Its products include Lasers, Laser delivery devices, Glaucoma devices, Retinal surgical instruments, and Veterinary and ENT products. The firm also powers its products with its proprietary Micropulse technology. The company operates in only one reportable segment, Ophthalmology. It derives revenues from the sale of consoles, delivery devices, consumables, services, and support activities. The geographical segments of the company include the United States, which drives maximum revenue, Europe, and the Americas, excluding the U.S. and Asia/Pacific Rim.

Founded

1989

HQ

Employees

93

Website

iridex.com

Sectors

Medical DevicesDeepTechHealthTech

Financials (LTM)

Revenue: $53M

EBITDA: $1M

EV

$22M

Valuation Multiples

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Iridex Financials

Iridex reported last 12-month revenue of $53M and EBITDA of $1M.

In the same LTM period, Iridex generated $19M in gross profit, $1M in EBITDA, and had net loss of ($4M).

Iridex P&L

In the most recent fiscal year, Iridex reported revenue of $53M and EBITDA of $982K.

Iridex expects next 12-month revenue of XXX and NTM EBITDA of XXX

Iridex Stock Performance

Iridex has current market cap of $18M, and enterprise value of $22M.

Iridex's stock price is $1.03.

Iridex Valuation Multiples

Iridex trades at 0.4x EV/Revenue multiple, and 20.6x EV/EBITDA.

Iridex Financial Valuation Multiples

As of April 11, 2026, Iridex has market cap of $18M and EV of $22M.

Equity research analysts estimate Iridex's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

Iridex has a P/E ratio of (4.7x).

Iridex Margins & Growth Rates

Iridex's revenue in the last 12 month grew by 3%.

Iridex's revenue per employee in the last FY averaged $0.6M, while opex per employee averaged $0.2M for the same period.

Iridex's rule of 40 is (2%) (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Iridex's rule of X is (2%) (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

Iridex Public Comps

See public comps and valuation multiples for other Medical Devices comps.

Iridex M&A Activity

Iridex acquired XXX companies to date.

Last acquisition by Iridex was on XXXXXXXX, XXXXX. Iridex acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).

Iridex Investment Activity

Iridex invested in XXX companies to date.

Iridex made its latest investment on XXXXXXXX, XXXXX. Iridex invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).