Iridex Corporation reported a net loss of $1.9 million for the third quarter ended September 28, 2024. This financial result reflects the company's performance during a period of ongoing strategic review and operational adjustments.
The company announced its expectation to achieve EBITDA breakeven in the fourth quarter of 2024. This projection is a direct result of aggressive cost reduction measures that were implemented in the second half of 2024.
Revenue in the retina segment experienced declines during the quarter, indicating specific challenges within that product group. Despite this, the focus on broader cost efficiencies aims to improve overall financial stability.
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