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Iridex Valuation Multiples

Discover revenue and EBITDA valuation multiples for Iridex and similar public comparables like Myomo, SmartVest, and InfuSystem.

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

United States of America
Employees

93

Website

iridex.com

Financials

LTM Revenue $48.7M

Last FY EBITDA -$6.9M

EV

$13.2M

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Iridex Financials

Iridex has a last 12-month revenue (LTM) of $48.7M and a last 12-month EBITDA of n/a.

In the most recent fiscal year, Iridex achieved revenue of $48.7M and an EBITDA of -$6.9M.

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

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Iridex P&L

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue $48.7M XXX $48.7M XXX XXX XXX
Gross Profit n/a XXX $19.5M XXX XXX XXX
Gross Margin n/a XXX 40% XXX XXX XXX
EBITDA n/a XXX -$6.9M XXX XXX XXX
EBITDA Margin n/a XXX -14% XXX XXX XXX
EBIT n/a XXX -$8.3M XXX XXX XXX
EBIT Margin n/a XXX -17% XXX XXX XXX
Net Profit -$8.9M XXX -$8.9M XXX XXX XXX
Net Margin -18% XXX -18% XXX XXX XXX
Net Debt XXX XXX $0.4M XXX XXX XXX

Financial data powered by Morningstar, Inc.

Iridex Stock Performance

As of July 2, 2025, Iridex's stock price is $1.

Iridex has current market cap of $15.1M, and EV of $13.2M.

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Iridex Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$13.2M $15.1M XXX XXX XXX XXX $-0.54

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Iridex Valuation Multiples

As of July 2, 2025, Iridex has market cap of $15.1M and EV of $13.2M.

Iridex's trades at 0.3x EV/Revenue multiple, and -1.9x EV/EBITDA.

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 -1.7x.

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Iridex Financial Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Market cap (current) $15.1M XXX $15.1M XXX XXX XXX
EV (current) $13.2M XXX $13.2M XXX XXX XXX
EV/Revenue 0.3x XXX 0.3x XXX XXX XXX
EV/EBITDA n/a XXX -1.9x XXX XXX XXX
EV/EBIT n/a XXX -1.6x XXX XXX XXX
EV/Gross Profit n/a XXX n/a XXX XXX XXX
P/E -1.7x XXX -1.7x XXX XXX XXX
EV/FCF n/a XXX -1.8x XXX XXX XXX

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Iridex Margins & Growth Rates

Iridex's revenue per employee in the last FY averaged $0.5M, while opex per employee averaged $0.3M for the same period.

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

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

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Iridex Operational Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue Growth n/a XXX n/a XXX XXX XXX
EBITDA Margin n/a XXX -14% XXX XXX XXX
EBITDA Growth n/a XXX n/a XXX XXX XXX
Rule of 40 n/a XXX n/a XXX XXX XXX
Bessemer Rule of X XXX XXX n/a XXX XXX XXX
Revenue per Employee XXX XXX $0.5M XXX XXX XXX
Opex per Employee XXX XXX $0.3M XXX XXX XXX
S&M Expenses to Revenue XXX XXX 26% XXX XXX XXX
G&A Expenses to Revenue XXX XXX n/a XXX XXX XXX
R&D Expenses to Revenue XXX XXX 11% XXX XXX XXX
Opex to Revenue XXX XXX 57% XXX XXX XXX

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Iridex Public Comps

See public comps and valuation multiples for Medical Devices comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
Philips XXX XXX XXX XXX XXX XXX
Perspective Therapeutics XXX XXX XXX XXX XXX XXX
SmartVest XXX XXX XXX XXX XXX XXX
InfuSystem XXX XXX XXX XXX XXX XXX
Myomo XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

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Iridex M&A and Investment Activity

Iridex acquired  XXX companies to date.

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

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Latest Acquisitions by Iridex

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About Iridex

When was Iridex founded? Iridex was founded in 1989.
Where is Iridex headquartered? Iridex is headquartered in United States of America.
How many employees does Iridex have? As of today, Iridex has 93 employees.
Who is the CEO of Iridex? Iridex's CEO is Mr. Patrick Mercer.
Is Iridex publicy listed? Yes, Iridex is a public company listed on NAS.
What is the stock symbol of Iridex? Iridex trades under IRIX ticker.
When did Iridex go public? Iridex went public in 1996.
Who are competitors of Iridex? Similar companies to Iridex include e.g. Philips, Perspective Therapeutics, SmartVest, InfuSystem.
What is the current market cap of Iridex? Iridex's current market cap is $15.1M
What is the current revenue of Iridex? Iridex's last 12 months revenue is $48.7M.
What is the current EV/Revenue multiple of Iridex? Current revenue multiple of Iridex is 0.3x.
Is Iridex profitable? Yes, Iridex is EBITDA-positive (as of the last 12 months).

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