Stock Ratings / Health Care / IRIX / financials

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IRIDEX Corporation (IRIX) Revenue-to-Profit Sankey Flow & SEC XBRL Financials

Q: Is IRIX stock a Buy, Hold, or Sell right now according to Roarable's RQD model?

As of 2026-11-01, IRIDEX Corporation (NASDAQ: IRIX) is rated E (Strong Sell / SELL) by Roarable's 5-pillar RQD engine with a composite confidence score of 34/100 at a spot price of $0.72 (-2.92% 1D, market cap $12.7M). Pillar breakdown: Fundamental Cash Engine 5/20, Institutional 13F & Options Flow 12/20, Executive Insider Alignment 8/20, FRED Macro Regime Fit 6/20, and SEC Balance-Sheet Forensics 3/20. Across 1016 tracked Health Care issuers, IRIX ranks #854 in composite RQD confidence.

Q: How does IRIX compare to ITOC and NDRA in the Health Care sector?

Within the Health Care sector (Biotechnology: Electromedical & Electrotherapeutic Apparatus), IRIX carries a Roarable E (34/100 RQD), trailing P/E of N/A, gross margin of 36.5%, and ROIC of -35.0%. By comparison, ITOC (iTonic Holdings Ltd (Class A)) holds a D- grade (35/100 RQD, P/E N/A, ROIC -35.0%, cap $20.9M) and NDRA (ENDRA Life Sciences Inc.) posts a D grade (48/100 RQD, P/E N/A, ROIC -35.0%, cap $7.3M). Among the 5-stock peer group, IRIX leads on earnings multiple (N/A) while IRIX leads on capital efficiency (-35.0% ROIC).

Q: What are the biggest fundamental strengths and SEC risk factors for IRIX?

Per IRIX's SEC EDGAR XBRL 10-K filing (FY2025, filed 2026-01-03, CIK 0001006045), IRIDEX Corporation generated $52.7M in revenue (+8.2% YoY), -$4.4M in net income, and -$2.3M in free cash flow against $29.2M in total assets and $0 in total debt. Key quantitative strengths: Established market leader in Health Care with deep daily trading liquidity.. Primary risk factors monitored: Company executives have done more routine share selling than personal cash buying lately.. Institutional options positioning shows a 50% call / 50% put premium split.

Q: Where is IRIX trading relative to its 50-day, 200-day, and 52-week technical levels?

IRIX last traded at $0.72 (-2.92% on volume of 26,381 shares), positioning the stock 0.00% above its 50-day simple moving average ($0.72) and -30.77% below its 200-day simple moving average ($1.04). Across its 52-week range of $0.61 to $1.65, IRIX sits at the 10.6% percentile with a 14-day RSI of 42.3 (NEUTRAL RANGE) and an implied next-earnings move of ±12.5% ($1.00 to $0.81).

Q: How profitable is IRIDEX Corporation (IRIX)?

In FY 2025 (10-K), IRIX converted $52.7M of revenue into a 36.5% gross margin, 0% operating margin, and $0 in free cash flow (0% FCF margin).

$0.72 -2.92% NASDAQ • Live Quote vs Prior Daily Close (Synced Snapshot) EXT / AFTER-HRS: $0.71

IRIDEX Corporation (IRIX) carries a Roarable Rating of E (Strong Sell) with 34/100 RQD Confidence due to weak cash-flow efficiency and sensitivity to current interest rates. Wait for business cash flow and institutional buying to improve before committing fresh capital.

📊 Historical Track Record Warning: Scores below 50 (34/100 · E) historically underperformed SPY in 71% of rolling 90-day windows →

ROARABLE E • RED ALERT Cap $12.7M

📤 Share Live RQD Speedometer Card: 𝕏 Post Reddit StockTwits ⬇ Live SVG Card

INTERACTIVE SCENARIO DECK:

🛡️ Portfolio Crash X-Ray

EXT / AFTER-HRS: $0.71 (-0.72%)🧬 Dilution Drag (+2.48% YoY Shares)⚙️ Cash Engine: 5/20 (E) • 0% FCF Margin

Verify 90D Bucket Audit →

📊 Historical Track Record Warning: Scores below 50 (34/100 · E) historically underperformed SPY in 71% of rolling 90-day windows (-8.7% avg 90D alpha vs SPY • 29.0% hit rate).

Audit Bucket Track Record →

RQD QUANT TACHOMETERRED ALERT • E

3-of-3 JEV AI Jury Bearish Warning

Cash

SEC

Whale

Impersonal quantitative research (0–100 RQD rubric) — not individualized investment advice. Past performance does not guarantee future results. Full Disclaimer

5-PILLAR SNOWFLAKE RADARRw E · Rk D-

Each axis scored 0–20

12M PRICE TARGET CONE-11.1% Base Target

WHALE OPTIONS SNAPSHOT: — (No Active Options Snapshot on file for IRIX)Realized 20D OHLCV Swing Band: ±12.5%

Deterministic 5-Pillar Attribution (34/100 Composite)

🔍 WHY IRIX SCORES 34/100 (E) — TOP 3 DRIVERS2 Bullish Pillars + #1 Risk Drag

▲ #1 Bullish Driver: Whale & Options Positioning+12/20 pts (35% of score)

20D Institutional Volume Accumulation (±12.5% realized swing band)

▲ #2 Bullish Driver: SEC 10-K Forensic Risk+8/20 pts (24% of score)

Altman Z-Score 0.20 (DISTRESS RISK (<1.8)) • Piotroski F-Score 5/9

▼ #1 Drag / Risk Factor: Insider Conviction & Share Dilution4/20 pts (-16 pt drag)

Dilution Drag (+2.48% YoY Shares) & executive Form 4 sales trim 16 pts from alignment

📈 PAST 4 QUARTERS RQD vs SUBSEQUENT RETURNQ1 → Q2 → Q3 → Current

Q1 (-3Q)

Grade D$0.89-9% Next Q

Q2 (-2Q)

Grade E$0.81-7.4% Next Q

Q3 (-1Q)

Grade E$0.75-4% Next Q

Current

Grade E$0.72-8.7% Hist 90D α

Trajectory: D (42) → E (34)Full Audit →

⚔️ ADVERSARIAL OPPOSING CASE & FORENSIC KILL-SWITCH (WHY THE BULL/BEAR THESIS COULD FAIL)CONTRARIAN TURNAROUND & SHORT-SQUEEZE DOSSIER

⚔️ Adversarial Opposing Case: What Could Spark a IRIX Turnaround Squeeze

Gideon Ashmere Forensic Desk →

While IRIX currently carries a cautious 34/100 (E) rating due to Insider Conviction & Share Dilution (4/20), shorts face asymmetric squeeze risk if free cash flow inflects or management executes accretive buybacks.

🚀 Contrarian Squeeze Trigger #1

Established market leader in Health Care with deep daily trading liquidity.

🚀 Contrarian Squeeze Trigger #2

Options & Short-Covering Gamma: Reclaiming the 50-day SMA ($0.72) and Max Pain ($0.76) forces dealer call-delta covering toward $1.73.

🚀 Contrarian Squeeze Trigger #3

Forensic Repair Trigger: Halting share dilution (Dilution Drag (+2.48% YoY Shares)) or retiring high-cost debt immediately upgrades the SEC 10-K Forensic pillar.

🎲 LIVE PREDICTION MARKET ODDS TIED TO $IRIX• $2.4M Crowd Pool • Kalshi / Polymarket Composite

Contract: “IRIX Beats Next Quarter EPS Consensus (Jan 2, 2027) & Holds Above 200D SMA”

YES 34%NO 66%Trade / Inspect Odds →

VISUAL REVENUE-TO-PROFIT SANKEY WATERFALL • FY 2025 (10-K)

How IRIX Turns Every Dollar of Sales Into Real Bottom-Line Profit

Free Cash Flow:$0 (0% FCF Margin)

Multi-Year SEC EDGAR XBRL Revenue, Net Profit & Free Cash Flow Trajectory

■ Revenue■ Net Profit■ Free Cash Flow

FY23

Rev $51.9M

FY24

Rev $48.7M

FY25

Rev $52.7M

Fiscal Year	Revenue	Gross Margin	Op Margin	Net Profit	Free Cash Flow	ROIC %
FY 2025	$52.7M	36.5%	-4.9%	-$4.4M	-$2.3M	-45%
FY 2024	$48.7M	40.1%	-17.1%	-$8.9M	-$7.3M	-45%
FY 2023	$51.9M	36.5%	-19.3%	-$9.6M	-$6.7M	-35%

ON-DEMAND RQD QUANT WORKSHOP • SPONSORED / PARTNER SPOTLIGHTHosted by Perry Belcher & Roarable Forensic Quant Desk

Red-Light Warning Desk: Spotting SEC Cash-Flow & Dilution Risks Before Downgrades (Featuring IRIX)

✓Walkthrough of IRIX's RQD Radar, SEC cash-conversion gap & downside invalidation levels
✓3 asymmetric Bear/Hedge frameworks when 10-year Treasury yields stay elevated
✓Includes nightly RQD rating-change & forensic signal email alerts on your tracked stocks

RQD INSIDER CLUB WAITLIST$49/YR PLANNED

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IRIX // CANDLESTICK & AUTO-TRENDLINE WORKSTATION6M: -30.10%▼ DESCENDING CHANNEL

2026-10-30O $0.72H $0.76L $0.71C $0.72VOL 15.2K

RES: $0.98SUP: $0.47SMA50: $0.72SMA200: $1.04

PRIMARY-SOURCE FORENSICS, SECOND-ORDER LINKS & AI ANALYST DESK

IRIX Dilution Monitor, Expectations Hurdle, Butterfly Connections & Policy Exposure

🦋 IRIX Butterfly Map → + Track IRIX →

Share Count & Dilution Monitor (#25)

Multi-year comparable XBRL diluted share count not disclosed (ETF or recent listing).

Reverse-DCF Expectations Hurdle (#30)

8.0%/yr Implied 5Y Growth

vs. +8.2% actual YoY revenue growth (assuming 9.25% cost of equity & 16.5x terminal multiple).

Ellis Vennor Setup Ledger (#33)

No active Ellis Vennor swing setup published on IRIX today. View full Setup Ledger →

🦋 Documented & Second-Order Butterfly Connections Open Graph →

No direct multi-tier Butterfly edges indexed yet for IRIX. Explore sector supply chains on /butterfly.

AI Analyst Theses, Washington Policy & Company Video

🎬 No recent verified company-specific video clip queued for IRIX today (we never pad ticker pages with unrelated generic clips). Browse Macro Video Desk →

DETERMINISTIC MULTI-FACTOR EQUITY AUDIT • SEC EDGAR XBRL × RQD PEER BENCHMARK

📊 Quantitative Sector Peer Comparison, SEC Filing Delta & Investment FAQ (IRIX)

Health Care Rank #854 of 1016 ⚔️ ITOC vs IRIX Full Matrix →

1. Head-to-Head Health Care Peer Comparison (IRIX vs. ITOC, NDRA, QTI, POCI)

Industry: Biotechnology: Electromedical & Electrotherapeutic Apparatus (26 Tracked Issuers)

Across 1016 tracked Health Care securities in the Roarable RQD universe, IRIDEX Corporation (IRIX) ranks #854 by composite RQD confidence (34/100, grade E) and #872 by equity capitalization ($12.7M). Within this direct 5-issuer industry benchmark cohort, IRIX leads on earnings valuation at N/A trailing P/E, while IRIX leads on capital efficiency and profitability with -35.0% ROIC and 36.5% gross margin. NDRA currently holds the highest overall quantitative score in the immediate peer group at 48/100 (D) compared with IRIX at 34/100 (E).

Ticker / Company	Roarable Grade	RQD Score	Trailing P/E	Gross Margin	ROIC	1D Change	Market Cap	Head-to-Head
IRIX ACTIVE IRIDEX Corporation	E	34/100	—	36.5%	-35.0%	-2.92%	$12.7M	Benchmark Subject
ITOC iTonic Holdings Ltd (Class A)	D-	35/100	—	62.6%	-35.0%	-4.99%	$20.9M	/itoc-vs-irix →
NDRA ENDRA Life Sciences Inc.	D	48/100	—	—	-35.0%	+2.95%	$7.3M	/ndra-vs-irix →
QTI QT Imaging Holdings Inc.	D-	38/100	—	45.4%	-35.0%	-3.07%	$32.3M	/qti-vs-irix →
POCI Precision Optics Corporation Inc.	E	34/100	—	17.8%	-35.0%	+5.76%	$50.5M	/poci-vs-irix →

2. Multi-Year SEC XBRL Revenue, Cash Flow & Balance-Sheet Trajectory (FY2023–FY2025)

SEC EDGAR 10-K • FILED 2026-01-03 • CIK 0001006045

In its most recent audited fiscal period (FY2025, filed 2026-01-03), IRIDEX Corporation (IRIX) reported GAAP revenue of $52.7M (+8.2% vs. FY2024 revenue of $48.7M , and +1.6% cumulative change since FY2023) , GAAP net income of -$4.4M, operating cash flow of -$2.1M, and free cash flow of -$2.3M (+69.1% YoY). On the balance sheet, IRIX closed FY2025 with $29.2M in total assets against $0 in total debt (Altman Z-Score: 0.20, Piotroski F-Score: 5/9).

Fiscal Period	Filing Date	Revenue	Net Income	Operating Cash Flow	Free Cash Flow	Total Assets	Total Debt
FY2025 (FY)	2026-01-03	$52.7M	-$4.4M	-$2.1M	-$2.3M	$29.2M	—
FY2024 (FY)	2024-12-28	$48.7M	-$8.9M	-$7.3M	-$7.3M	$29.1M	—
FY2023 (FY)	2023-12-30	$51.9M	-$9.6M	-$6.7M	-$6.7M	—	—

3. IRIX Data-Verified Investor FAQ (RQD Rating, Sector Peers, SEC Forensics & Technicals)

✓ SCHEMA.ORG FAQPAGE JSON-LD ENABLED

Is IRIX stock a Buy, Hold, or Sell right now according to Roarable's RQD model?

As of 2026-11-01, IRIDEX Corporation (NASDAQ: IRIX) is rated E (Strong Sell / SELL) by Roarable's 5-pillar RQD engine with a composite confidence score of 34/100 at a spot price of $0.72 (-2.92% 1D, market cap $12.7M). Pillar breakdown: Fundamental Cash Engine 5/20, Institutional 13F & Options Flow 12/20, Executive Insider Alignment 8/20, FRED Macro Regime Fit 6/20, and SEC Balance-Sheet Forensics 3/20. Across 1016 tracked Health Care issuers, IRIX ranks #854 in composite RQD confidence.

How does IRIX compare to ITOC and NDRA in the Health Care sector?

Within the Health Care sector (Biotechnology: Electromedical & Electrotherapeutic Apparatus), IRIX carries a Roarable E (34/100 RQD), trailing P/E of N/A, gross margin of 36.5%, and ROIC of -35.0%. By comparison, ITOC (iTonic Holdings Ltd (Class A)) holds a D- grade (35/100 RQD, P/E N/A, ROIC -35.0%, cap $20.9M) and NDRA (ENDRA Life Sciences Inc.) posts a D grade (48/100 RQD, P/E N/A, ROIC -35.0%, cap $7.3M). Among the 5-stock peer group, IRIX leads on earnings multiple (N/A) while IRIX leads on capital efficiency (-35.0% ROIC).

What are the biggest fundamental strengths and SEC risk factors for IRIX?

Per IRIX's SEC EDGAR XBRL 10-K filing (FY2025, filed 2026-01-03, CIK 0001006045), IRIDEX Corporation generated $52.7M in revenue (+8.2% YoY), -$4.4M in net income, and -$2.3M in free cash flow against $29.2M in total assets and $0 in total debt. Key quantitative strengths: Established market leader in Health Care with deep daily trading liquidity.. Primary risk factors monitored: Company executives have done more routine share selling than personal cash buying lately.. Institutional options positioning shows a 50% call / 50% put premium split.

Where is IRIX trading relative to its 50-day, 200-day, and 52-week technical levels?

IRIX last traded at $0.72 (-2.92% on volume of 26,381 shares), positioning the stock 0.00% above its 50-day simple moving average ($0.72) and -30.77% below its 200-day simple moving average ($1.04). Across its 52-week range of $0.61 to $1.65, IRIX sits at the 10.6% percentile with a 14-day RSI of 42.3 (NEUTRAL RANGE) and an implied next-earnings move of ±12.5% ($1.00 to $0.81).

IRIX Investor FAQ & Complete 8-Part Research Index

100% OPEN ACCESS • SEC EDGAR × CBOE × FRED

How profitable is IRIDEX Corporation (IRIX)?

In FY 2025 (10-K), IRIX converted $52.7M of revenue into a 36.5% gross margin, 0% operating margin, and $0 in free cash flow (0% FCF margin).

Direct Sub-Reports: IRIX RQD Cockpit IRIX 12M Forecast IRIX Earnings & Move IRIX Dividends & DRIP IRIX Insiders & 13F IRIX Whale Options IRIX Profit Sankey IRIX News & Why