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IRIX

Iridex Corp.
IRIX stock: delisting risk, reverse split — what the SEC filings say, updated every weekday morning.
Nasdaq · Electromedical & Electrotherapeutic Apparatus · EDGAR filings (CIK 1006045) · 5 signals · 1 setups · updated Sep 3, 2026

What the filings say Pressure ▼

Listing is at risk and the usual cures are constrained. Next thing to watch: a reverse-split proxy, a hearings-panel 8-K, or a Form 25.

Radar 88 (high attention) · dilution pressure low · listing risk high · governance risk low · runway 26.1 mo · strongest signal: Exchange deficiency notice (Sep 2, 2026)

What would confirm: Nasdaq 'Pending Suspension' listing, Form 25, hearings-panel denial 8-K, or a reverse-split proxy.
What would prove it wrong: 8-K announcing regained compliance; equity raise that restores stockholders' equity; MVLS back above threshold for 10+ days.

Direction is stated for existing shareholders (▼ more shares / survival or listing risk; ▲ insiders or holders buying). It is a characterization of the filings, not a forecast or a recommendation.

88Radar · attention score (0–100)
0Dilution pressure · financing + balance sheet
90Listing risk · exchange standards
0Governance risk · reporting, auditor, going concern

Setups

Independent filings stitched into a thesis, each with what would confirm and what would prove it wrong.

Listing cliff Pressure ▼ strength 0.90

Listing is at risk and the usual cures are constrained. Next thing to watch: a reverse-split proxy, a hearings-panel 8-K, or a Form 25. Exchange deficiency plus a structural reason cure is hard (sub-$5M float, negative equity, no cash, or a reverse split already used). Under Nasdaq's 2026 rules (one reverse split per 12 months; $5M MVLS floor with no cure period from Sept 2026) the usual escape hatches are narrower.

Would confirm: Nasdaq 'Pending Suspension' listing, Form 25, hearings-panel denial 8-K, or a reverse-split proxy.
Would invalidate: 8-K announcing regained compliance; equity raise that restores stockholders' equity; MVLS back above threshold for 10+ days.
Delisting languageHearings panelExchange deficiency noticeMinimum bid deficiencyReverse split

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Balance sheet (XBRL)

$4.6Mcash + short-term investments as of Apr 4, 2026
26.1 moestimated runway (latest fiscal-year operating cash flow (quarter too short to annualize) [companyfacts])
$4.7Mstockholders' equity as of Apr 4, 2026
$14.2Mpublic float (10-K cover)
17.4Mshares outstanding as of May 11, 2026 · was 17.3M Mar 27, 2026

Runway = liquidity ÷ monthly operating burn at the latest reported period · balance sheet 152 days old. A financing after the balance-sheet date is the main reason a figure can be stale — check the timeline below for offerings since then.

Signal timeline

Last 30 days of filing signals plus current balance-sheet flags, newest first. ▼ pressure · ▲ support · hover a score for its components; every row links to the filing.

DateSignalEvidenceScore
Sep 2, 2026 Exchange deficiency notice 8-K Item 3.01 filed 2026-09-02 (accepted 16:20 ET) filing 60
Sep 2, 2026 Hearings panel “hearings panel” language in 8-K (8-K) filed 2026-09-02 filing 58
Sep 2, 2026 Minimum bid deficiency “min bid” language in 8-K (8-K) filed 2026-09-02 filing 48
Sep 2, 2026 Delisting language “delisting notice” language in 8-K (8-K) filed 2026-09-02 filing 46
Sep 2, 2026 Reverse split “reverse split” language in 8-K (8-K) filed 2026-09-02 filing 32

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