Iridex (IRIX)

A defining feature of Iridex’s portfolio is its MicroPulse technology, which delivers laser energy in short, controlled pulses rather than a continuous beam. This approach is designed to reduce thermal buildup in targeted tissue and broaden the range of treatment options available to physicians. The technology is used across parts of the company’s retinal and glaucoma offerings, including systems and accessories used in clinical settings.

Iridex sells ophthalmic laser consoles, laser delivery devices, glaucoma treatment products, retinal surgical instruments, and related service and support offerings. Its products are used by hospitals, ambulatory surgery centres, ophthalmology clinics, and specialist practices. The company also serves selected adjacent markets, including veterinary and ear, nose, and throat applications, although ophthalmology remains its sole reportable business segment.

Revenue comes from a combination of capital equipment, disposable and reusable devices, consumables, maintenance, and support. The United States is the company’s largest market, with additional sales across Europe, the Americas outside the US, and the Asia-Pacific region.

Iridex operates in a specialised medical-device niche where adoption depends on clinical evidence, physician training, reimbursement conditions, and competition from other surgical, pharmaceutical, and laser-based approaches to treating sight-threatening eye disease.