IRIX IRIDEX Corporation - Common Stock
$0.76
Price · Aug 25, 2026
Fundamentals as of Aug 18, 2026
52W Range
$1–$2
6% of range
Analyst Rating
BUY
7 analysts
Price Target
$3
+262% upside
P/E (TTM)
-2.9
ROE
-80.8%
Net Profit Margin
-8.4%
IRIX Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$0.76
Market Cap
$13M
P/E (TTM)
-2.9
EPS (TTM)
$-0.26
Revenue (TTM)
$53M
Div Yield
—
ROE
-80.8%
Debt/Equity
—
52W Range
$1 – $2
IRIX Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$53M
2016-12-31
→
2026-01-03
EPS
$-0.26
2016-12-31
→
2026-01-03
Free Cash Flow
$-2M
2016-12-31
→
2026-01-03
Margins
-8.4%
2016-12-31
→
2026-01-03
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
IRIX
Peer Median
P/E (TTM)
-2.9
27.5
P/S (TTM)
0.3
2.8
P/B
2.7
4.2
Price / FCF
-5.8
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
IRIX
Peer Median
Gross Margin
36.5%
55.5%
Operating Margin
-4.9%
—
Net Profit Margin
-8.4%
-50.1%
ROA
-15.2%
-67.9%
ROE
-80.8%
-140.2%
ROIC
-52.9%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
IRIX
Peer Median
Current Ratio
1.9
1.7
Quick Ratio
1.0
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
IRIX
Peer Median
Revenue YoY
8.2%
—
Revenue CAGR 3Y
-2.6%
—
Revenue CAGR 5Y
7.7%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
IRIX
Peer Median
IRIX Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
7 analysts
- Strong Buy 2 28.6%
- Buy 4 57.1%
- Hold 1 14.3%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
1 analysts · 2026-08-20
Low
$2.75
High
$2.75
Median target
$2.75
+262.2%
Mean target
$2.75
+262.2%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.00%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $-0.07 | $-0.01 | -0.06% |
| March 31, 2026 | $-0.03 | $-0.07 | 0.04% |
| Dec. 31, 2025 | $-0.01 | $-0.02 | 0.01% |
| Sept. 30, 2025 | $-0.09 | $-0.06 | -0.03% |
| June 30, 2025 | $-0.06 | $-0.09 | 0.03% |
| March 31, 2025 | $-0.10 | $-0.10 | 0.00% |
| Dec. 31, 2024 | $-0.05 | $-0.06 | 0.01% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| IRIX | $20M | -4.5 | 8.2% | -8.4% | -80.8% | 36.5% |
| ICU | — | — | — | — | — | — |
| ADGM | — | -0.7 | — | — | — | — |
| HSCS | — | — | — | — | — | — |
| SINT | $15M | -0.6 | -64.7% | -1018.1% | -299.7% | 45.3% |
| INBS | $7M | -0.3 | 38.1% | -294.9% | -292.2% | 48.6% |
| ABT | $250.18B | 33.7 | 5.7% | 14.7% | 13.1% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 16
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $53M | $49M | $52M | $57M | $54M | $36M | $43M | $43M | $42M | $46M | $42M | $43M | |
| Cost of Revenue | $33M | $29M | $30M | $32M | $31M | $21M | $26M | $25M | $26M | $25M | $22M | $21M | |
| Gross Profit | $19M | $20M | $22M | $25M | $23M | $16M | $18M | $17M | $16M | $21M | $20M | $21M | |
| R&D Expense | $4M | $5M | $7M | $7M | $7M | $3M | $4M | $4M | $5M | $5M | $5M | $5M | |
| SG&A Expense | $8M | $10M | $9M | $8M | $9M | $7M | $8M | $10M | $9M | $8M | $6M | $6M | |
| Operating Expenses | $22M | $28M | $32M | $33M | $30M | $22M | $27M | $30M | $28M | $23M | $20M | $19M | |
| Operating Income | $-3M | $-8M | $-10M | $-8M | $-8M | $-7M | $-9M | $-13M | $-13M | $-3M | $288.0K | $3M | |
| Other Non-op | $-2M | $-540.0K | $527.0K | $60.0K | $2M | $280.0K | $209.0K | $92.0K | $-107.0K | $-91.0K | $3.0K | $-1M | |
| Pretax Income | $-4M | $-9M | $-9M | $-7M | $-5M | $-6M | $-9M | $-13M | $-13M | $-3M | $291.0K | $1M | |
| Income Tax | $57.0K | $68.0K | $90.0K | $65.0K | $40.0K | $26.0K | $48.0K | $37.0K | $-128.0K | $9M | $-183.0K | $-9M | |
| Net Income | $-4M | $-9M | $-10M | $-8M | $-5M | $-6M | $-9M | $-13M | $-13M | $-12M | $474.0K | $10M | |
| EPS (Basic) | $-0.26 | $-0.54 | $-0.59 | $-0.47 | $-0.34 | $-0.46 | $-0.64 | $-1.05 | $-1.11 | $-1.15 | $0.05 | $1.01 | |
| EPS (Diluted) | $-0.26 | $-0.54 | $-0.59 | $-0.47 | $-0.34 | $-0.46 | $-0.64 | $-1.05 | $-1.11 | $-1.15 | $0.05 | $0.97 | |
| Shares (Basic) | 16,934,000 | 16,439,000 | 16,128,000 | 15,938,000 | 15,421,000 | 13,842,000 | 13,707,000 | 12,199,000 | 11,555,000 | 10,173,000 | 9,962,000 | 9,892,000 | |
| Shares (Diluted) | 16,934,000 | 16,439,000 | 16,128,000 | 15,938,000 | 15,421,000 | 13,842,000 | 13,707,000 | 12,199,000 | 11,555,000 | 10,173,000 | 10,128,000 | 10,357,000 | |
| EBITDA | $-3M | $-8M | $-10M | $-8M | $-8M | $-7M | $-9M | · | $-13M | $-3M | $288.0K | $3M |
Balance Sheet 26
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $6M | $2M | $7M | $14M | $24M | $12M | $13M | $21M | $22M | $24M | $10M | $13M | |
| Receivables | $8M | $6M | $7M | $6M | $7M | $7M | $9M | $9M | $8M | $10M | $9M | $8M | |
| Inventory | $8M | $11M | $10M | $11M | $8M | $6M | $8M | $9M | $9M | $12M | $11M | $9M | |
| Prepaid Expense | $2M | $2M | $856.0K | $1M | $1M | $730.0K | $401.0K | $547.0K | $500.0K | $450.0K | $386.0K | $510.0K | |
| Current Assets | $25M | $24M | $27M | $36M | $42M | $25M | $31M | $40M | $39M | $46M | $31M | $33M | |
| PP&E (Net) | $58.0K | $115.0K | $351.0K | $462.0K | $428.0K | $449.0K | $730.0K | $1M | $1M | $2M | $1M | $735.0K | |
| Accum. Depreciation | $14M | $14M | $14M | $14M | $13M | $13M | $12M | $12M | $11M | $10M | $10M | $9M | |
| Goodwill | $965.0K | $965.0K | $965.0K | $965.0K | $965.0K | $533.0K | $533.0K | $533.0K | $533.0K | $533.0K | $533.0K | $533.0K | |
| Intangibles | $984.0K | $1M | $2M | $2M | $2M | $68.0K | $84.0K | $100.0K | $116.0K | $132.0K | $268.0K | $284.0K | |
| Other Non-current Assets | $1M | $1M | $1M | $1M | $271.0K | $132.0K | $151.0K | $201.0K | $143.0K | $80.0K | $164.0K | $221.0K | |
| Total Assets | $29M | $29M | $34M | $42M | $49M | $28M | $35M | $42M | $42M | $48M | $42M | $42M | |
| Accounts Payable | $5M | $7M | $4M | $4M | $3M | $1M | $3M | $3M | $2M | $2M | $2M | $2M | |
| Accrued Liabilities | $608.0K | $477.0K | $2M | $2M | $2M | $990.0K | $2M | $3M | $2M | $2M | $2M | $2M | |
| Short-term Debt | · | $2M | · | · | · | · | · | · | · | · | · | · | |
| Current Liabilities | $13M | $17M | $13M | $12M | $13M | $9M | $10M | $11M | $10M | $8M | $7M | $7M | |
| Capital Leases | $98.0K | $811.0K | $2M | $732.0K | $2M | $282.0K | $2M | · | · | · | · | · | |
| Other Non-current Liabilities | $387.0K | $314.0K | $164.0K | $26.0K | $25.0K | $22.0K | $19.0K | $385.0K | $533.0K | $523.0K | $704.0K | $1M | |
| Total Liabilities | $24M | $27M | $25M | $25M | $25M | $11M | $12M | $12M | $11M | $9M | $8M | $8M | |
| Long-term Debt | · | $1M | · | · | · | $1M | · | · | · | · | · | · | |
| Total Debt | · | $2M | · | · | · | $1M | · | · | · | · | · | · | |
| Common Stock | $174.0K | $174.0K | $172.0K | $169.0K | $168.0K | $148.0K | $147.0K | $145.0K | $126.0K | $124.0K | $111.0K | $108.0K | |
| Retained Earnings | $-92M | $-88M | $-79M | $-70M | $-62M | $-57M | $-51M | $-42M | $-29M | $-16M | $-4M | $-5M | |
| AOCI | $-14.0K | $51.0K | $-52.0K | $-24.0K | $45.0K | $-19.0K | $80.0K | $70.0K | · | · | · | · | |
| Stockholders' Equity | $5M | $2M | $10M | $17M | $23M | $17M | $23M | $30M | $31M | $39M | $34M | $34M | |
| Liabilities + Equity | $29M | $29M | $34M | $42M | $49M | $28M | $35M | $42M | $42M | $48M | $42M | $42M | |
| Shares Outstanding | 17,306,521 | 16,636,380 | 16,252,813 | 15,989,662 | 15,876,171 | 13,899,683 | 13,785,233 | 13,602,052 | 11,596,274 | 11,304,736 | 10,009,408 | 9,786,695 |
Cash Flow 16
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $523.0K | $584.0K | $1M | $485.0K | $803.0K | $504.0K | $688.0K | $809.0K | $858.0K | $648.0K | $522.0K | $420.0K | |
| Stock-based Comp | · | · | · | · | · | · | · | · | · | · | · | $972.0K | |
| Deferred Tax | · | · | · | · | · | · | · | · | · | $9M | $-209.0K | $-9M | |
| Amort. of Intangibles | $323.0K | $333.0K | $333.0K | $228.0K | $163.0K | $16.0K | $16.0K | $16.0K | $16.0K | $16.0K | $16.0K | $44.0K | |
| Operating Cash Flow | $-2M | $-7M | $-7M | $-10M | $8M | $-3M | $-8M | $-10M | $-4M | $-144.0K | $-593.0K | $4M | |
| CapEx | $143.0K | $13.0K | $109.0K | $286.0K | $213.0K | $97.0K | $128.0K | $440.0K | $575.0K | $1M | $875.0K | $568.0K | |
| Investing Cash Flow | $-143.0K | $-13.0K | $-109.0K | $-286.0K | $-6M | $-93.0K | $-509.0K | $-827.0K | $-782.0K | · | $-1M | $-1M | |
| Debt Issued | · | · | · | · | · | $2M | · | · | · | · | · | · | |
| Net Debt Issued | · | · | · | · | · | $2M | · | · | · | · | · | · | |
| Stock Issued | · | · | · | $0 | $10M | · | · | $10M | $2M | $15M | · | · | |
| Stock Repurchased | · | · | · | · | · | · | · | · | · | $59.0K | $2M | $5M | |
| Net Stock Activity | · | · | · | $0 | $10M | · | · | · | $2M | $15M | $-2M | $-5M | |
| Financing Cash Flow | $6M | $3M | $-5.0K | $-73.0K | $9M | $2M | $-156.0K | $10M | $2M | · | $-1M | $-3M | |
| Net Change in Cash | $4M | $-5M | $-7M | $-10M | $12M | $-1M | $-9M | $-513.0K | $-2M | $14M | $-3M | $-141.0K | |
| Taxes Paid | $-22.0K | $15.0K | $53.0K | $73.0K | $15.0K | $-74.0K | $14.0K | $13.0K | $7.0K | $22.0K | $27.0K | $35.0K | |
| Free Cash Flow | $-2M | $-7M | $-7M | $-10M | $8M | $-3M | $-8M | · | $-4M | $-1M | $-1M | $3M |
Profitability 8
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 36.5% | 40.1% | 42.0% | 44.5% | 42.4% | 42.8% | 41.3% | · | 37.3% | 45.1% | 47.8% | 50.0% | |
| Operating Margin | -4.9% | -17.1% | -19.3% | -13.2% | -14.0% | -18.1% | -20.7% | · | -31.0% | -5.6% | 0.69% | 6.0% | |
| Net Margin | -8.4% | -18.3% | -18.4% | -13.2% | -9.7% | -17.4% | -20.3% | · | -30.9% | -25.4% | 1.1% | 23.4% | |
| Pretax Margin | -8.3% | -18.2% | -18.3% | -13.1% | -9.6% | -17.3% | -20.2% | · | -31.2% | -5.8% | 0.70% | 3.1% | |
| EBITDA Margin | -4.9% | -17.1% | -19.3% | -13.2% | -14.0% | -18.1% | -20.7% | · | -31.0% | -5.6% | 0.69% | 6.0% | |
| ROA | -15.2% | -28.0% | -24.9% | -16.6% | -13.6% | -20.2% | -23.1% | · | -28.7% | -26.0% | 1.1% | 26.6% | |
| ROE | -80.8% | -377.5% | -88.7% | -42.8% | -21.5% | -36.6% | -37.8% | · | -36.9% | -32.2% | 1.4% | 33.7% | |
| ROIC | -52.9% | -220.3% | -106.1% | -44.1% | -32.6% | -35.5% | -39.7% | · | -41.8% | -28.9% | 1.4% | 57.8% |
Liquidity & Solvency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.9 | 1.4 | 2.1 | 2.9 | 3.3 | 2.9 | 3.1 | · | 3.8 | 5.4 | 4.1 | 4.7 | |
| Quick Ratio | 1.0 | 0.5 | 1.1 | 1.6 | 2.4 | 2.2 | 2.2 | · | 2.8 | 4.0 | 2.6 | 3.1 | |
| Debt / Equity | · | 0.8 | · | · | · | 0.1 | · | · | · | · | · | · |
Efficiency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 1.8 | 1.5 | 1.4 | 1.3 | 1.4 | 1.2 | 1.1 | · | 0.9 | 1.0 | 1.0 | 1.1 | |
| Inventory Turnover | 3.6 | 2.8 | 2.9 | 3.5 | 4.7 | 3.0 | 3.0 | · | 2.5 | 2.2 | 2.2 | 2.2 | |
| Receivables Turnover | 7.8 | 7.7 | 8.0 | 8.9 | 7.8 | 4.4 | 4.7 | · | 4.7 | 4.8 | 4.7 | 5.5 |
Growth Rates 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 8.2% | -6.2% | -9.0% | 5.7% | 48.3% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | -2.6% | -3.4% | 12.6% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 7.7% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 14
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $53M | $49M | $52M | $57M | $54M | $36M | $43M | $43M | $42M | $46M | $42M | $43M | |
| Net Income TTM | $-4M | $-9M | $-10M | $-8M | $-5M | $-6M | $-9M | $-13M | $-13M | $-12M | $474.0K | $10M | |
| Market Cap | $20M | $28M | $46M | $32M | $97M | $35M | $32M | · | $88M | $159M | $93M | $84M | |
| Enterprise Value | · | $27M | · | · | · | $25M | · | · | · | · | · | · | |
| P/E | -4.5 | -3.1 | -4.8 | -4.3 | -18.0 | -5.5 | -3.7 | -4.2 | -6.9 | -12.2 | 185.8 | 8.9 | |
| P/S | 0.4 | 0.6 | 0.9 | 0.6 | 1.8 | 1.0 | 0.7 | · | 2.1 | 3.4 | 2.2 | 2.0 | |
| P/B | 4.1 | 13.2 | 4.8 | 1.9 | 4.2 | 2.0 | 1.4 | · | 2.9 | 4.1 | 2.8 | 2.5 | |
| P / Tangible Book | 6.8 | · | 6.6 | 2.2 | 4.8 | 2.1 | · | · | · | · | · | · | |
| P / Cash Flow | -9.6 | -3.8 | -6.8 | -3.4 | 11.8 | -10.8 | -4.1 | · | -24.8 | -1103.8 | -156.8 | 21.0 | |
| P / FCF | -9.0 | -3.8 | -6.7 | -3.3 | 12.1 | -10.5 | -4.0 | · | -21.3 | -131.8 | -63.3 | 24.5 | |
| EV / EBITDA | · | -3.3 | · | · | · | -3.7 | · | · | · | · | · | · | |
| EV / FCF | · | -3.7 | · | · | · | -7.4 | · | · | · | · | · | · | |
| EV / Revenue | · | 0.6 | · | · | · | 0.7 | · | · | · | · | · | · | |
| Earnings Yield | -22.2% | -32.3% | -21.0% | -23.4% | -5.6% | -18.3% | -27.2% | -23.6% | -14.6% | -8.2% | 0.54% | 11.3% |
Income Statement 16
| Metric | Trend | Q2 2027 | Q1 2027 | Q4 2025 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $13M | $12M | $17M | $12M | $14M | $12M | $13M | $12M | $13M | $12M | $12M | $13M | $14M | $18M | |
| Cost of Revenue | $8M | $7M | $11M | $8M | $9M | $7M | $7M | $7M | $7M | $7M | $8M | $7M | $8M | $10M | |
| Gross Profit | $4M | $5M | $5M | $4M | $5M | $5M | $6M | $4M | $5M | $4M | $5M | $6M | $6M | $8M | |
| R&D Expense | $936.0K | $905.0K | $-668.0K | $972.0K | $871.0K | $876.0K | $1M | $1M | $2M | $2M | $2M | $2M | $2M | $2M | |
| SG&A Expense | $2M | $2M | $233.0K | $2M | $2M | $2M | $2M | $2M | $3M | $2M | $2M | $2M | $2M | $1M | |
| Operating Expenses | $5M | $5M | $81.0K | $5M | $6M | $5M | $6M | $6M | $8M | $8M | $8M | $7M | $8M | $9M | |
| Operating Income | $-1M | $-324.0K | $5M | $-1M | $-940.0K | $-205.0K | $-501.0K | $-2M | $-3M | $-3M | $-3M | $-2M | $-2M | $-1M | |
| Other Non-op | $-167.0K | $-142.0K | $-2M | $-158.0K | $-33.0K | $-1M | $-339.0K | $-46.0K | $-22.0K | $-133.0K | $181.0K | $-58.0K | $266.0K | $379.0K | |
| Pretax Income | $-1M | $-466.0K | $4M | $-2M | $-973.0K | $-2M | $-840.0K | $-2M | $-3M | $-3M | $-3M | $-2M | $-2M | $-885.0K | |
| Income Tax | $70.0K | $58.0K | $-17.0K | $4.0K | $21.0K | $12.0K | $-6.0K | $17.0K | $19.0K | $38.0K | $60.0K | $8.0K | $12.0K | $20.0K | |
| Net Income | $-1M | $-524.0K | $4M | $-2M | $-994.0K | $-2M | $-834.0K | $-2M | $-3M | $-3M | $-3M | $-2M | $-2M | $-905.0K | |
| EPS (Basic) | $-0.07 | $-0.03 | $0.23 | $-0.09 | $-0.06 | $-0.10 | $-0.05 | $-0.12 | $-0.16 | $-0.21 | $-0.18 | $-0.11 | $-0.13 | $-0.04 | |
| EPS (Diluted) | $-0.07 | $-0.03 | $0.23 | $-0.09 | $-0.06 | $-0.10 | $-0.05 | $-0.12 | $-0.16 | $-0.21 | $-0.18 | $-0.11 | $-0.13 | $-0.04 | |
| Shares (Basic) | 17,418,000 | 17,311,000 | -32,187,000 | 17,009,000 | 16,793,000 | 16,727,000 | -32,682,000 | 16,581,000 | 16,287,000 | 16,253,000 | 39,000 | 16,231,000 | 16,001,000 | -30,183,000 | |
| Shares (Diluted) | 17,418,000 | 17,311,000 | -32,187,000 | 17,009,000 | 16,793,000 | 16,727,000 | -32,682,000 | 16,581,000 | 16,287,000 | 16,253,000 | 39,000 | 16,231,000 | 16,001,000 | -30,183,000 | |
| EBITDA | $-1M | $-324.0K | · | $-1M | $-940.0K | $-205.0K | · | $-2M | $-3M | $-3M | · | $-2M | $-2M | · |
Balance Sheet 26
| Metric | Trend | Q2 2027 | Q1 2027 | Q4 2025 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $5M | $5M | $6M | $6M | $7M | $7M | $2M | $4M | $4M | $5M | $7M | $8M | $11M | $14M | |
| Receivables | $6M | $7M | $8M | $7M | $7M | $7M | $6M | $6M | $6M | $7M | $7M | $6M | $7M | $6M | |
| Inventory | $10M | $9M | $8M | $7M | $8M | $10M | $11M | $11M | $11M | $11M | $10M | $10M | $11M | $11M | |
| Prepaid Expense | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $856.0K | $1M | $2M | $1M | |
| Current Assets | $24M | $25M | $25M | $24M | $27M | $29M | $24M | $24M | $25M | $28M | $27M | $27M | $35M | $36M | |
| PP&E (Net) | $182.0K | $139.0K | $58.0K | $23.0K | $40.0K | $75.0K | $115.0K | $157.0K | $209.0K | $265.0K | $351.0K | $524.0K | $449.0K | $462.0K | |
| Accum. Depreciation | · | · | $14M | · | · | · | $14M | · | · | · | $14M | · | · | $14M | |
| Goodwill | $965.0K | $965.0K | $965.0K | $965.0K | $965.0K | $965.0K | $965.0K | $965.0K | $965.0K | $965.0K | $965.0K | $965.0K | $965.0K | $965.0K | |
| Intangibles | $825.0K | $904.0K | $984.0K | $1M | $1M | $1M | $1M | $1M | $1M | $2M | $2M | $2M | $2M | $2M | |
| Other Non-current Assets | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $2M | $2M | $1M | |
| Total Assets | $27M | $28M | $29M | $28M | $32M | $34M | $29M | $30M | $31M | $34M | $34M | $35M | $41M | $42M | |
| Accounts Payable | $7M | $6M | $5M | $4M | $5M | $6M | $7M | $6M | $8M | $8M | $4M | $3M | $4M | $4M | |
| Accrued Liabilities | $760.0K | $692.0K | $608.0K | $592.0K | $584.0K | $969.0K | $477.0K | $1M | $868.0K | $1M | $2M | $1M | $2M | $2M | |
| Short-term Debt | · | · | · | · | · | · | $2M | $1M | · | · | · | · | · | · | |
| Current Liabilities | $13M | $13M | $13M | $12M | $14M | $15M | $17M | $16M | $16M | $16M | $13M | $10M | $13M | $12M | |
| Capital Leases | $77.0K | $87.0K | $98.0K | $52.0K | $248.0K | $535.0K | $811.0K | $1M | $1M | $2M | $2M | $2M | $472.0K | $732.0K | |
| Other Non-current Liabilities | $496.0K | $440.0K | $387.0K | $315.0K | $307.0K | $290.0K | $314.0K | $321.0K | $303.0K | $304.0K | $164.0K | $26.0K | $26.0K | $26.0K | |
| Total Liabilities | $24M | $24M | $24M | $24M | $26M | $27M | $27M | $28M | $27M | $28M | $25M | $23M | $25M | $25M | |
| Long-term Debt | · | · | · | · | · | · | $1M | $1M | · | · | · | · | · | · | |
| Total Debt | · | · | · | · | · | · | · | $1M | · | · | · | · | · | · | |
| Common Stock | $174.0K | $174.0K | $174.0K | $174.0K | $174.0K | $174.0K | $174.0K | $174.0K | $172.0K | $172.0K | $172.0K | $172.0K | $169.0K | $169.0K | |
| Retained Earnings | $-94M | $-93M | $-92M | $-92M | $-91M | $-90M | $-88M | $-87M | $-85M | $-83M | $-79M | $-76M | $-72M | $-70M | |
| AOCI | $-11.0K | $-10.0K | $-14.0K | $-13.0K | $-13.0K | $29.0K | $51.0K | $2.0K | $2.0K | $-16.0K | $-52.0K | $-19.0K | $-35.0K | $-24.0K | |
| Stockholders' Equity | $4M | $5M | $5M | $5M | $6M | $852.0K | $2M | $3M | $4M | $6M | $10M | $12M | $16M | $17M | |
| Liabilities + Equity | $27M | $28M | $29M | $28M | $32M | $34M | $29M | $30M | $31M | $34M | $34M | $35M | $41M | $42M | |
| Shares Outstanding | 17,452,915 | 17,395,350 | 17,306,521 | 17,049,561 | 16,814,713 | 16,789,027 | 16,636,380 | 16,636,380 | 16,449,283 | 16,252,813 | 16,252,813 | 16,232,473 | 16,007,161 | 15,989,662 |
Cash Flow 9
| Metric | Trend | Q2 2027 | Q1 2027 | Q4 2025 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $86.0K | $100.0K | $74.0K | $110.0K | $127.0K | $135.0K | $135.0K | $137.0K | $139.0K | $173.0K | $619.0K | $105.0K | $144.0K | $86.0K | |
| Amort. of Intangibles | $79.0K | $80.0K | $72.0K | $80.0K | $79.0K | $84.0K | $33.0K | $84.0K | $83.0K | $84.0K | $33.0K | $133.0K | $83.0K | $84.0K | |
| Operating Cash Flow | $174.0K | $-1M | $4M | $-1M | $-397.0K | $-1M | $-1M | $-3M | $-1M | $-2M | $-979.0K | $-2M | $-3M | $-2M | |
| CapEx | $50.0K | $101.0K | $139.0K | $13.0K | $13.0K | $11.0K | $9.0K | $1.0K | $0 | $3.0K | $-32.0K | $82.0K | $43.0K | $83.0K | |
| Investing Cash Flow | $-50.0K | $-101.0K | $-139.0K | $-13.0K | $-13.0K | $-11.0K | $-9.0K | $-1.0K | $0 | $-3.0K | $32.0K | $-82.0K | $-43.0K | $-83.0K | |
| Financing Cash Flow | $-38.0K | $-1.0K | $3M | $-34.0K | $-14.0K | $6M | $-218.0K | $3M | $0 | $0 | $45.0K | $-24.0K | $37.0K | $0 | |
| Net Change in Cash | $85.0K | $-1M | $7M | $-1M | $-466.0K | $5M | $-1M | $-251.0K | $-1M | $-2M | $-947.0K | $-2M | $-3M | $-2M | |
| Taxes Paid | $12.0K | $0 | $-39.0K | $0 | $0 | $24.0K | $-2.0K | $-3.0K | $20.0K | $0 | $-1.0K | $1.0K | · | $-8.0K | |
| Free Cash Flow | · | $-1M | · | · | · | $-1M | · | · | · | $-2M | · | · | $-3M | · |
Profitability 8
| Metric | Trend | Q2 2027 | Q1 2027 | Q4 2025 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 34.2% | 40.2% | · | 32.1% | 34.5% | 42.5% | · | 37.3% | 40.6% | 37.9% | · | 43.7% | 43.3% | · | |
| Operating Margin | -8.2% | -2.8% | · | -11.3% | -6.9% | -1.7% | · | -16.2% | -20.9% | -28.0% | · | -13.1% | -17.1% | · | |
| Net Margin | -10.1% | -4.4% | · | -12.6% | -7.3% | -14.2% | · | -16.7% | -21.2% | -29.4% | · | -13.7% | -15.2% | · | |
| Pretax Margin | -9.5% | -4.0% | · | -12.6% | -7.2% | -14.1% | · | -16.5% | -21.1% | -29.1% | · | -13.6% | -15.2% | · | |
| EBITDA Margin | -8.2% | -2.8% | · | -11.3% | -6.9% | -1.7% | · | -16.2% | -20.9% | -28.0% | · | -13.1% | -17.1% | · | |
| ROA | -4.3% | -1.7% | · | -5.4% | -3.2% | -4.9% | · | -5.9% | -7.9% | -9.2% | · | -4.4% | · | · | |
| ROE | -26.1% | -18.8% | · | -43.1% | -19.3% | -45.9% | · | -26.3% | -30.3% | -31.0% | · | -11.6% | · | · | |
| ROIC | -29.9% | -7.7% | · | -30.2% | -15.8% | -24.2% | · | -48.1% | -62.6% | -51.3% | · | -14.1% | · | · |
Liquidity & Solvency 3
| Metric | Trend | Q2 2027 | Q1 2027 | Q4 2025 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.8 | 1.9 | · | 1.9 | 2.0 | 1.9 | · | 1.5 | 1.5 | 1.7 | · | 2.6 | · | · | |
| Quick Ratio | 0.8 | 0.9 | · | 1.0 | 1.0 | 0.9 | · | 0.6 | 0.6 | 0.7 | · | 1.4 | · | · | |
| Debt / Equity | · | · | · | · | · | · | · | 0.5 | · | · | · | · | · | · |
Efficiency 3
| Metric | Trend | Q2 2027 | Q1 2027 | Q4 2025 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.4 | 0.4 | · | 0.4 | 0.4 | 0.3 | · | 0.4 | 0.4 | 0.3 | · | 0.3 | · | · | |
| Inventory Turnover | 0.9 | 0.7 | · | 0.9 | 0.9 | 0.6 | · | 0.7 | 0.7 | 0.7 | · | 0.7 | · | · | |
| Receivables Turnover | 2.0 | 1.7 | · | 1.9 | 2.0 | 1.8 | · | 1.9 | 2.0 | 1.7 | · | 2.1 | · | · |
Valuation (TTM) 13
| Metric | Trend | Q2 2027 | Q1 2027 | Q4 2025 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $50M | $50M | · | $50M | $50M | $48M | · | $49M | $50M | $51M | · | $54M | $55M | · | |
| Net Income TTM | $-4M | $-5M | · | $-6M | $-7M | $-10M | · | $-10M | $-11M | $-10M | · | $-8M | $-8M | · | |
| Market Cap | $20M | $17M | · | $20M | $15M | $17M | · | $30M | $36M | $48M | · | $41M | · | · | |
| Enterprise Value | · | · | · | · | · | · | · | $27M | · | · | · | · | · | · | |
| P/E | -4.5 | -3.5 | · | -3.1 | -2.0 | -1.7 | · | -3.0 | -3.3 | -4.8 | · | -4.9 | -3.8 | · | |
| P/S | 0.4 | 0.3 | · | 0.4 | 0.3 | 0.4 | · | 0.6 | 0.7 | 0.9 | · | 0.8 | · | · | |
| P/B | 5.4 | 3.6 | · | 4.2 | 2.4 | 19.7 | · | 11.4 | 8.4 | 7.5 | · | 3.4 | · | · | |
| P / Tangible Book | 10.7 | 6.0 | · | 7.4 | 3.7 | · | · | 111.5 | 19.7 | 12.2 | · | 4.4 | · | · | |
| P / Cash Flow | · | -12.8 | · | · | · | -14.6 | · | · | · | -29.4 | · | · | · | · | |
| P / FCF | · | -11.9 | · | · | · | -14.5 | · | · | · | -29.3 | · | · | · | · | |
| EV / EBITDA | · | · | · | · | · | · | · | -14.6 | · | · | · | · | · | · | |
| EV / Revenue | · | · | · | · | · | · | · | 0.6 | · | · | · | · | · | · | |
| Earnings Yield | -22.1% | -28.6% | · | -32.2% | -50.0% | -59.0% | · | -33.5% | -30.1% | -20.8% | · | -20.5% | -26.1% | · |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2026-01-03 | 2024-12-28 | 2023-12-30 | 2022-12-31 | 2022-01-01 | |
|---|---|---|---|---|---|
| Revenue | $53M | $49M | $52M | $57M | $54M |
| Gross Margin % | 36.5% | 40.1% | 42.0% | 44.5% | 42.4% |
| Operating Margin % | -4.9% | -17.1% | -19.3% | -13.2% | -14.0% |
| Net Income | $-4M | $-9M | $-10M | $-8M | $-5M |
| Diluted EPS | $-0.26 | $-0.54 | $-0.59 | $-0.47 | $-0.34 |
Balance Sheet
| 2026-01-03 | 2024-12-28 | 2023-12-30 | 2022-12-31 | 2022-01-01 | |
|---|---|---|---|---|---|
| Debt / Equity | — | 0.8 | — | — | — |
| Current Ratio | 1.9 | 1.4 | 2.1 | 2.9 | 3.3 |
| Quick Ratio | 1.0 | 0.5 | 1.1 | 1.6 | 2.4 |
Cash Flow
| 2026-01-03 | 2024-12-28 | 2023-12-30 | 2022-12-31 | 2022-01-01 | |
|---|---|---|---|---|---|
| Free Cash Flow | $-2M | $-7M | $-7M | $-10M | $8M |
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Institutional owners (13F) 32 filers · $3.7M total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 7 (0 vs prior Q) | 2 (-1 vs prior Q) | 7 (0 vs prior Q) | 6 (+2 vs prior Q) | -721K |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| PARAGON ASSOCIATES & PARAGON ASSOCIATES II JOINT VENTURE | $1,010,000 | 1,000,000 | 27.09% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $589,209 | 514,593 | 15.81% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $484,958 | 423,542 | 13.01% | Shares |
| MORGAN STANLEY | $349,446 | 305,193 | 9.37% | Shares |
| AMH Equity Ltd | $210,114 | 184,230 | 5.64% | Shares |
| WEBER CAPITAL MANAGEMENT LLC /ADV | $206,616 | 180,451 | 5.54% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $132,257 | 115,470 | 3.55% | Shares |
| CITADEL ADVISORS LLC | $113,298 | 98,950 | 3.04% | Shares |
| PERKINS CAPITAL MANAGEMENT INC | $81,066 | 70,800 | 2.17% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $68,877 | 60,155 | 1.85% | Shares |
| VANGUARD GROUP INC | $68,577 | 60,155 | 1.84% | Shares |
| STATE STREET CORP | $51,202 | 44,718 | 1.37% | Shares |
| GOLDMAN SACHS GROUP INC | $46,320 | 40,454 | 1.24% | Shares |
| UNITED CAPITAL FINANCIAL ADVISORS, LLC | $40,681 | 35,529 | 1.09% | Shares |
| XTX Topco Ltd | $33,423 | 29,190 | 0.90% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $31,441 | 27,459 | 0.84% | Shares |
| DIVERSIFY WEALTH MANAGEMENT, LLC | $30,077 | 33,840 | 0.81% | Shares |
| Diversify Advisory Services, LLC | $30,077 | 33,840 | 0.81% | Shares |
| Bank of New York Mellon Corp | $27,731 | 24,219 | 0.74% | Shares |
| NORTHERN TRUST CORP | $27,461 | 23,983 | 0.74% | Shares |
| BlackRock, Inc. | $23,198 | 20,260 | 0.62% | Shares |
| THOMPSON DAVIS & CO., INC. | $17,683 | 15,444 | 0.47% | Shares |
| CITIGROUP INC | $16,227 | 14,172 | 0.44% | Shares |
| Centiva Capital, LP | $15,938 | 13,920 | 0.43% | Shares |
| HighTower Advisors, LLC | $11,450 | 10,000 | 0.31% | Shares |
| Vanguard Global Advisers, LLC | $4,538 | 3,963 | 0.12% | Shares |
| Tower Research Capital LLC (TRC) | $3,544 | 3,095 | 0.10% | Shares |
| GROUP ONE TRADING LLC | $1,260 | 1,100 | 0.03% | Shares |
| UBS Group AG | $987 | 862 | 0.03% | Shares |
| SIMPLEX TRADING, LLC | $128 | 112 | 0.00% | Shares |
| Caitong International Asset Management Co., Ltd | $11 | 10 | 0.00% | Shares |
| SBI Securities Co., Ltd. | $6 | 5 | 0.00% | Shares |
Company insiders 33 insiders · 3 officers · 13 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Patrick Mercer | President and CEO | July 10, 2026 A | 468,784 | 0 | 0 | $0 |
| David Bruce | CEO | July 4, 2024 F | 126,480 | 0 | 0 | $0 |
| Romeo R Dizon | Chief Financial Officer | Aug. 24, 2026 P | 169,952 | 67 | 0 | $110,809 |
| William M Moore | Director | Dec. 16, 2025 P | 251,550 | 3 | 0 | $50,520 |
| Yu-Hao Chen | Director | June 13, 2025 A | — | 0 | 0 | $0 |
| Scott Shuda | Director | June 13, 2025 A | 129,523 | 0 | 0 | $0 |
| Beverly A Huss | Director | June 13, 2025 A | 92,639 | 0 | 0 | $0 |
| Nandini Devi | Director | June 14, 2023 A | 77,159 | 0 | 0 | $0 |
| Robert Earle Grove | Director | June 14, 2023 A | 160,103 | 0 | 0 | $0 |
| Ken Ludlum | Director | June 14, 2023 A | 101,711 | 0 | 0 | $0 |
| Doris Engibous | Director | June 24, 2020 A | 18,348 | 0 | 0 | $0 |
| Robert A Gunst | Director | June 24, 2020 A | 50,568 | 0 | 0 | $0 |
| Maria Sainz | Director | July 23, 2019 A | 16,894 | 0 | 0 | $0 |
| Ruediger Naumann-Etienne | Director | July 23, 2019 A | 86,872 | 0 | 0 | $0 |
| Acuta Capital Fund, LP | 10% owner | Aug. 25, 2017 P | 1,344,720 | 0 | 0 | $0 |
| George R Marcellino | — | Aug. 16, 2016 S | 1,289 | 0 | 0 | $0 |
| Atabak Mokari | — | July 27, 2016 A | 65,000 | 0 | 0 | $0 |
| Sanford Fitch | — | July 1, 2016 A | 47,896 | 0 | 0 | $0 |
| Ronald Steckel | — | June 6, 2016 M | 65,625 | 0 | 0 | $0 |
| James H Mackaness | — | Aug. 19, 2015 M | 45,052 | 0 | 0 | $0 |
| James B Hawkins | — | Aug. 22, 2014 M | 31,294 | 0 | 0 | $0 |
| Garrett A Garrettson | — | Aug. 11, 2014 M | 39,441 | 0 | 0 | $0 |
| Eduardo Arias | — | June 19, 2013 M | 0 | 0 | 0 | $0 |
| Robert K Anderson | — | Sept. 12, 2012 A | 0 | 0 | 0 | $0 |
| Dominik Beck | — | Oct. 10, 2011 A | 75,000 | 0 | 0 | $0 |
| Theodore A Boutacoff | — | April 29, 2010 A | 159,047 | 0 | 0 | $0 |
| Timothy S Powers | — | Sept. 3, 2009 M | 0 | 0 | 0 | $0 |
| Donald L Hammond | — | July 1, 2008 A | 28,750 | 0 | 0 | $0 |
| Donald J Todd | — | Feb. 13, 2008 A | 0 | 0 | 0 | $0 |
| Larry Tannenbaum | — | Sept. 7, 2006 A | — | 0 | 0 | $0 |
| James L Donovan | — | July 1, 2006 A | 82,510 | 0 | 0 | $0 |
| Barry G Caldwell | — | May 30, 2006 P | 6,000 | 0 | 0 | $0 |
| Joshua Makower | — | July 1, 2004 A | — | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 8 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| Novel Inspiration International Co., Ltd., XINPO VENTURE CAPITAL CO., LTD., Lin Shih-Yao David ×2 filings | July 13, 2026 | 29.92% | Amendment | Passive investment | SEC |
| Paragon Associates and Paragon Associates II Joint Venture, Paragon JV Partners, LLC, Bradbury Dyer III ×9 filings | Nov. 23, 2022 | — | Initial filing | Passive investment | SEC |
| Roland Family Support Trust, Brent Alexander Roland, Leigh Ann Roland, Glenn Cuthbert Roland | Sept. 20, 2022 | — | Initial filing | Passive investment | SEC |
| BlueLine Capital Partners, LP, BlueLine Capital Partners II, LP, BlueLine Capital Partners III, LP, BlueLine Partners, LLC, Meridian OHC Partners, LP, TSV Investment Partners, LLC, Scott Shuda ×2 filings | June 21, 2021 | — | Initial filing | Board campaign | SEC |
| Topcon America Corporation, Topcon Corporation 401140100004725 | March 23, 2021 | — | Initial filing | — | SEC |
| BlueLine Capital Partners, L.P., BlueLine Capital Partners II, L.P., BlueLine Capital Partners III, L.P., BlueLine Catalyst Fund VIII, L.P., BlueLine Partners, L.L.C., BlueLine Partner II, L.L.C. ×3 filings | Oct. 25, 2007 | — | Initial filing | — | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | Dec. 16, 2005 | — | Initial filing | — | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | Sept. 19, 2005 | — | Initial filing | Passive investment | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
ETF ownership Held by 2 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.