November 08, 2017
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Iridex posts $3.1 million quarterly loss
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Iridex reported a net loss of $3.1 million, or $0.27 per share, in the third quarter of 2017 compared with a net loss of $0.7 million, or $0.07 per share, in the same time period of 2016, according to a press release.
Revenue grew by 11% from $9.8 million in 2016’s third quarter to $10.9 million.
Operating expenses increased from $5.5 million in the third quarter of 2016 to $7.4 million in the third quarter of 2017, while a loss from operations rose from $1.2 million to $3.1 million.
The company reported cash and cash equivalents of $22.8 million as of Sept. 30.