IRIDEX CORP Segments Disclosure
15. Business Segments and Geographical Information
The Company's chief operating decision maker has been identified as the , who reviews consolidated results when making decisions about allocating resources and assessing performance of the Company. For the purpose of internal reporting and management’s operation review, the Company's chief executive officer and management personnel do not segregate the Group’s business by revenue stream or geography. Management has determined that the Company has one operating segment, ophthalmology. The measure of segment assets is reported on the Consolidated Balance Sheets as total consolidated assets. The revenue, costs and expenses, and the net income for the reportable segment are the same as those presented on the Consolidated Statements of Operations. Substantially all of our long-term assets are located in the U.S. We develop, manufacture and market medical devices. Our revenues arise from the sale of consoles, delivery devices, consumables, service and support activities.
Revenue information shown by product is as follows (in thousands):
|
|
Year Ended |
|
|||||
|
|
January 3, 2026 |
|
|
December 28, 2024 |
|
||
Cyclo G6 |
|
$ |
13,843 |
|
|
$ |
12,697 |
|
Retina |
|
|
30,280 |
|
|
|
27,827 |
|
Other(1) |
|
|
8,552 |
|
|
|
8,145 |
|
Total revenues |
|
$ |
52,675 |
|
|
$ |
48,669 |
|
(1) Includes service contract revenues of $1.3 million and $1.4 million recognized during fiscal years 2025 and 2024, respectively. Includes $1.5 million recognized revenue related to the exclusive distribution rights during fiscal years 2025 and 2024. Other also includes revenues from paid service, royalty, freight and legacy G probes.
Revenue information shown by geographic region is as follows (in thousands):
|
|
Year Ended |
|
|||||
|
|
January 3, 2026 |
|
|
December 28, 2024 |
|
||
United States |
|
$ |
23,210 |
|
|
$ |
22,690 |
|
Europe, Middle East and Africa |
|
|
14,391 |
|
|
|
11,824 |
|
Asia/Pacific Rim |
|
|
12,953 |
|
|
|
11,950 |
|
Americas, excluding the U.S. |
|
|
2,121 |
|
|
|
2,205 |
|
|
|
$ |
52,675 |
|
|
$ |
48,669 |
|
Revenues are attributed to countries based on location of end customers.
Other than the United States, the Netherlands and China accounted for more than 10% of the Company’s revenues during fiscal year 2025, representing 14.7% and 11.0%, respectively. The United States accounted for 44.1% of revenues in 2025. Other than the United States, the Netherlands accounted for more than 10% of the Company’s revenues during fiscal year 2024, representing 14.8%. The United States accounted for 46.6% of revenues in 2024.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2026 | Apr 2, 2026 | Showing above |
| 2024 | Mar 27, 2025 | |
| 2023 | Mar 29, 2024 | |
| 2022 | Mar 9, 2023 | |
| 2021 | Mar 23, 2021 | |
| 2019 | Mar 13, 2020 | |
| 2018 | Mar 29, 2019 | |
| 2017 | Mar 14, 2018 | |
| 2016 | Mar 15, 2017 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.