$IRIX
IRIDEX CORP

2024 Q3 Form 10-Q Financial Statement

#000095017024094090 Filed on August 08, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $11.58M $12.63M
YoY Change -9.91% -7.84%
Cost Of Revenue $7.258M $7.496M
YoY Change -3.12% -3.5%
Gross Profit $4.323M $5.135M
YoY Change -19.39% -13.52%
Gross Profit Margin 37.33% 40.65%
Selling, General & Admin $4.894M $6.272M
YoY Change -23.67% -4.0%
% of Gross Profit 113.21% 122.14%
Research & Development $1.299M $1.501M
YoY Change -29.59% -14.18%
% of Gross Profit 30.05% 29.23%
Depreciation & Amortization $137.0K $139.0K
YoY Change -40.43% -3.47%
% of Gross Profit 3.17% 2.71%
Operating Expenses $6.193M $7.773M
YoY Change -25.0% -6.15%
Operating Profit -$1.870M -$2.638M
YoY Change -35.38% 12.54%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net -$46.00K -$22.00K
YoY Change -133.33% -108.27%
Pretax Income -$1.916M -$2.660M
YoY Change -30.48% 28.01%
Income Tax $17.00K $19.00K
% Of Pretax Income
Net Earnings -$1.933M -$2.679M
YoY Change -30.12% 28.18%
Net Earnings / Revenue -16.69% -21.21%
Basic Earnings Per Share -$0.12 -$0.16
Diluted Earnings Per Share -$0.12 -$0.16
COMMON SHARES
Basic Shares Outstanding 16.51M 16.25M
Diluted Shares Outstanding 16.58M 16.29M

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.860M $4.111M
YoY Change -60.7% -62.79%
Cash & Equivalents $3.860M $4.111M
Short-Term Investments
Other Short-Term Assets $1.755M $1.730M
YoY Change 44.33% 4.85%
Inventory $10.94M $11.12M
Prepaid Expenses
Receivables $5.954M $6.269M
Other Receivables $1.826M $1.773M
Total Short-Term Assets $24.34M $25.01M
YoY Change -21.4% -27.93%
LONG-TERM ASSETS
Property, Plant & Equipment $157.0K $209.0K
YoY Change -60.45% -53.45%
Goodwill $1.000M $1.000M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.270M $1.421M
YoY Change -23.68% -8.38%
Total Long-Term Assets $5.817M $6.242M
YoY Change -2.63% -0.64%
TOTAL ASSETS
Total Short-Term Assets $24.34M $25.01M
Total Long-Term Assets $5.817M $6.242M
Total Assets $30.15M $31.25M
YoY Change -18.37% -23.75%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.201M $7.767M
YoY Change 49.64% 119.04%
Accrued Expenses $1.007M $868.0K
YoY Change -27.81% -59.29%
Deferred Revenue $2.335M $2.290M
YoY Change 1.08% -5.53%
Short-Term Debt $1.300M $0.00
YoY Change
Long-Term Debt Due $1.314M
YoY Change
Total Short-Term Liabilities $15.85M $16.15M
YoY Change 29.56% 22.66%
LONG-TERM LIABILITIES
Long-Term Debt $1.444M $0.00
YoY Change
Other Long-Term Liabilities $321.0K $303.0K
YoY Change 1184.0% 1065.38%
Total Long-Term Liabilities $321.0K $303.0K
YoY Change 1184.0% 1065.38%
TOTAL LIABILITIES
Total Short-Term Liabilities $15.85M $16.15M
Total Long-Term Liabilities $321.0K $303.0K
Total Liabilities $27.53M $27.00M
YoY Change 17.21% 7.6%
SHAREHOLDERS EQUITY
Retained Earnings -$87.12M -$85.19M
YoY Change 17.21% 19.04%
Common Stock $89.74M $89.43M
YoY Change 2.19% 2.23%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.623M $4.246M
YoY Change
Total Liabilities & Shareholders Equity $30.15M $31.25M
YoY Change -18.37% -23.75%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income -$1.933M -$2.679M
YoY Change -30.12% 28.18%
Depreciation, Depletion And Amortization $137.0K $139.0K
YoY Change -40.43% -3.47%
Cash From Operating Activities -$3.070M -$1.329M
YoY Change 169.06% -53.25%
INVESTING ACTIVITIES
Capital Expenditures $4.000K
YoY Change -75.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$4.000K
YoY Change -75.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 2.823M 0.000
YoY Change -4580.95% -100.0%
NET CHANGE
Cash From Operating Activities -3.070M -1.329M
Cash From Investing Activities -4.000K
Cash From Financing Activities 2.823M 0.000
Net Change In Cash -251.0K -1.329M
YoY Change -79.43% -53.76%
FREE CASH FLOW
Cash From Operating Activities -$3.070M -$1.329M
Capital Expenditures $4.000K
Free Cash Flow -$3.074M
YoY Change 165.69%

Facts In Submission

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AllocatedShareBasedCompensationExpense
813000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
873000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-458000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-62000
us-gaap Increase Decrease In Due From Related Parties
IncreaseDecreaseInDueFromRelatedParties
-1154000
us-gaap Increase Decrease In Due From Related Parties
IncreaseDecreaseInDueFromRelatedParties
-1157000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
1218000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
513000
irix Increase Decrease In Prepaid Deferred Expense And Other Current Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherCurrentAssets
874000
irix Increase Decrease In Prepaid Deferred Expense And Other Current Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherCurrentAssets
-252000
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
25000
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
288000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
3268000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
286000
us-gaap Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
391000
us-gaap Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
119000
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
520000
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-286000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-1128000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-154000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-878000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-962000
irix Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
-457000
irix Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
-510000
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
373000
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-65000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-2974000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-3984000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
3000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
59000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-3000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-59000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
0
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
37000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
0
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
63000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
0
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-26000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
54000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
-32000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-2923000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-4101000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
7034000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
13922000
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
4111000
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
9821000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
20000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
53000
irix Transfer Of Inventory From To Property And Equipment
TransferOfInventoryFromToPropertyAndEquipment
0
irix Transfer Of Inventory From To Property And Equipment
TransferOfInventoryFromToPropertyAndEquipment
3000
us-gaap Use Of Estimates
UseOfEstimates
<p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:24.5pt;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires us to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues, and expenses and the related disclosure of contingent assets and liabilities. We base our estimates on historical experience and on various other assumptions that we believe to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates. In addition, any change in these estimates or their related assumptions could have an adverse effect on our operating results.</span></p>
irix Service Contract Warranty Period
ServiceContractWarrantyPeriod
P1Y
irix Service Contract Threshold Period To Determine Nature Of Sale
ServiceContractThresholdPeriodToDetermineNatureOfSale
P60D
irix Fair Value Of Distribution Right
FairValueOfDistributionRight
14800000
irix Refundable Arrangement Fee
RefundableArrangementFee
200000
CY2024Q2 us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
21000
us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
21000
CY2023Q3 us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
41000
us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
41000
CY2024Q2 us-gaap Capitalized Contract Cost Impairment Loss
CapitalizedContractCostImpairmentLoss
0
us-gaap Capitalized Contract Cost Impairment Loss
CapitalizedContractCostImpairmentLoss
0
CY2023Q3 us-gaap Capitalized Contract Cost Impairment Loss
CapitalizedContractCostImpairmentLoss
0
us-gaap Capitalized Contract Cost Impairment Loss
CapitalizedContractCostImpairmentLoss
0
CY2023Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
12429000
CY2022Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
14153000
irix Contract With Customer Liability Additions
ContractWithCustomerLiabilityAdditions
678000
irix Contract With Customer Liability Additions
ContractWithCustomerLiabilityAdditions
607000
irix Contract With Customer Liability Revenue Recognized Including Additions
ContractWithCustomerLiabilityRevenueRecognizedIncludingAdditions
1556000
irix Contract With Customer Liability Revenue Recognized Including Additions
ContractWithCustomerLiabilityRevenueRecognizedIncludingAdditions
1569000
CY2024Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
11551000
CY2023Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
13191000
CY2024Q2 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
9261000
CY2023Q3 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
10881000
CY2024Q2 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
2290000
CY2023Q3 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
2310000
us-gaap Contract With Customer Performance Obligation Satisfied In Previous Period
ContractWithCustomerPerformanceObligationSatisfiedInPreviousPeriod
1400000
us-gaap Contract With Customer Performance Obligation Satisfied In Previous Period
ContractWithCustomerPerformanceObligationSatisfiedInPreviousPeriod
900000
CY2024Q2 irix Noncurrent Portion Of Deferred Revenue Pertains To Exclusivity Fee Deferred Revenue
NoncurrentPortionOfDeferredRevenuePertainsToExclusivityFeeDeferredRevenue
9000000
CY2024Q2 irix Current Portion Of Deferred Revenue Pertains To Exclusivity Fee Deferred Revenue
CurrentPortionOfDeferredRevenuePertainsToExclusivityFeeDeferredRevenue
1500000
irix Products Warranty Period
ProductsWarrantyPeriod
P2Y
CY2023Q3 irix Capitalized Implementation Costs
CapitalizedImplementationCosts
1100000
CY2023Q4 irix Capitalized Implementation Costs Amortization Period
CapitalizedImplementationCostsAmortizationPeriod
P5Y
us-gaap Adjustment For Amortization
AdjustmentForAmortization
113000
us-gaap Adjustment For Amortization
AdjustmentForAmortization
0
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
146000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
34000
CY2024Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
112000
CY2024Q2 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
4926000
CY2023Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
5288000
CY2024Q2 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
20000
CY2023Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
156000
CY2024Q2 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
6178000
CY2023Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
4462000
CY2024Q2 us-gaap Inventory Net
InventoryNet
11124000
CY2023Q4 us-gaap Inventory Net
InventoryNet
9906000
CY2024Q2 us-gaap Goodwill
Goodwill
1000000
CY2023Q4 us-gaap Goodwill
Goodwill
1000000
CY2024Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
3139000
CY2024Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1664000
CY2024Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
1475000
CY2023Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
3139000
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1497000
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
1642000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
167000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
167000
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
168000
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
323000
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
319000
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
319000
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
200000
CY2024Q2 irix Finite Lived Intangible Asset Amortization Expense After Year Four
FiniteLivedIntangibleAssetAmortizationExpenseAfterYearFour
146000
CY2024Q2 irix Finite Lived Intangible Asset Future Amortization Expense Total
FiniteLivedIntangibleAssetFutureAmortizationExpenseTotal
1475000
us-gaap Operating Lease Expense
OperatingLeaseExpense
500000
us-gaap Operating Lease Expense
OperatingLeaseExpense
500000
CY2024Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.048
CY2024Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y2M12D
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
558000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1111000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
762000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
2431000
CY2024Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
142000
CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
2289000
CY2024Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1294000
CY2024Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
995000
CY2024Q2 us-gaap Purchase Obligation
PurchaseObligation
14100000
CY2024Q2 us-gaap Purchase Obligation Due In Next Twelve Months
PurchaseObligationDueInNextTwelveMonths
8100000
CY2024Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
419000
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
400000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
813000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
873000
CY2024Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
1400000
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y9M3D
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2757921
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
3.60
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
20300
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
2.94
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
135
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
2.32
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
490666
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
4.68
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2287420
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
3.37
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
36000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
1.82
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
1.35
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0435
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0383
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0435
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0383
CY2024Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P4Y4M24D
CY2023Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P4Y4M24D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P4Y4M24D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P4Y4M24D
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate
0.77
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate
0.76
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate
0.77
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate
0.76
us-gaap Dividends Share Based Compensation
DividendsShareBasedCompensation
0
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2287420
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
3.37
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P4Y3M14D
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
36000
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
2230362
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
3.4
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P4Y2M26D
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
34000
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
1258699
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
4.03
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P3Y10D
CY2024Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
12000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
4000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
4000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
57000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
22000
CY2023Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
1400000
CY2023Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
0
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
-2679000
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-2766000
us-gaap Net Income Loss
NetIncomeLoss
-6143000
us-gaap Net Income Loss
NetIncomeLoss
-4856000
CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16287000
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16036000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16270000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16018000
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
16287000
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
16036000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
16270000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
16018000
CY2024Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.16
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.17
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.38
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.3
CY2024Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.16
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.17
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.38
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.3
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2024Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
12631000
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
12855000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
24392000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
26561000
CY2024Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
12631000
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
12855000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
24392000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
26561000
CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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0000950170-24-094090.txt Edgar Link pending
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Financial_Report.xlsx Edgar Link pending
irix-20240629.htm Edgar Link pending
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irix-ex31_1.htm Edgar Link pending
irix-ex31_2.htm Edgar Link pending
irix-ex32_1.htm Edgar Link pending
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