Iridex Cp Up 16.73% To $2.93 After Earnings Miss

Iridex Cp (IRIX) said after close Tuesday that it lost $0.18 per share in quarter four 2023.

On the revenue line, the company reported $12.5 million, missing estimates by $2.4 million.

In the same quarter a year ago, the company lost $0.07 per share on revenue of $15.2 million.

The stock is up 16.73% to $2.93 after the report.

Despite Iridex Cp reporting a decline in revenues, earnings increased signaling a rise in profit margins.

Wall Street Analysts had an average rating of Hold on the stock prior to the report.

Trading in the five days leading up to the report earned Iridex Cp a Bullish Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 28. Meanwhile, the average Wall Street analyst rated the stock a Hold.

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, 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, service and support activities. The geographical segments of the company include the United States, Europe, the Americas, excluding the U.S and Asia/Pacific Rim.