MOUNTAIN VIEW, Calif., Feb. 02, 2026 (GLOBE NEWSWIRE) -- Iridex Corporation (NASDAQ:IRIX), a worldwide leader providing innovative and versatile laser-based medical systems, delivery devices, and procedure probes for the treatment of glaucoma and retinal diseases, today announced its intent to relocate the Company's headquarters from Mountain View, California to San Jose, California.

On January 26, 2026, the Company signed a non-binding letter of intent for a new lease (the "Lease"). The Company plans to move to the 31,000 square feet location and is expecting to generate savings of approximately $0.4 million in fiscal year 2026 and approximately $0.6 million in savings on an annualized basis thereafter. The terms of the Lease remain subject to change, and the Company cannot provide any guarantee that the Lease will be executed upon these same terms or at all.

"We committed to reducing operating expenses for Iridex and we have delivered on this commitment over the past year. Reducing costs remains a priority for the Company and moving our headquarters to nearby San Jose is another opportunity to generate material incremental savings," said Patrick Mercer, President and CEO of IRIDEX. "This strategic decision is expected to lower operating expenses while allowing us to maintain reduced manufacturing operations and attract the same high-caliber talent in the Bay Area."

About Iridex Corporation

Iridex Corporation is a worldwide leader in developing, manufacturing, and marketing innovative and versatile laser-based medical systems, delivery devices and consumable instrumentation for the ophthalmology market. The Company's proprietary MicroPulse^® technology delivers a differentiated laser treatment that provides safe, effective, and proven treatment for targeted sight-threatening eye conditions. Iridex's current product line is used for the treatment of glaucoma and diabetic macular edema (DME) and other retinal diseases. Iridex products are sold in the United States through a direct sales force and internationally primarily through a network of independent distributors into more than 100 countries. For further information, visit the Iridex website at www.iridex.com.

Special Note Regarding Forward-Looking Statements

This press release should be read in conjunction with our filings with the Securities and Exchange Commission. Statements herein may constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act").

These forward-looking statements are based upon our current expectations, estimates, assumptions, and beliefs concerning future events and conditions and may discuss, among other things, expectations regarding the relocation of our headquarters, including the terms of a new lease and the savings to be generated under such lease. Any statement that is not historical in nature is a forward-looking statement and may be identified by the use of words and phrases such as "anticipates," "believes," "estimates," "expects," "intends," "plans," "predicts," "projects," "will be," "will continue," "will likely result in," and similar expressions. Readers are cautioned not to place undue reliance on forward-looking statements. Forward-looking statements are necessarily subject to risks, uncertainties, and other factors, many of which are outside our control, and could cause actual results to differ materially from such statements and from our historical results and experience. These risks, uncertainties and other factors include, but are not limited to risks detailed in our filings with the Securities and Exchange Commission (the "SEC"), including our Annual Report on Form 10-K, filed on March 27, 2025. Readers are cautioned that it is not possible to predict or identify all the risks, uncertainties and other factors that may affect future results and that the risks described herein should not be considered a complete list. Any forward-looking statement speaks only as of the date on which such statement is made.

EXCEPT AS REQUIRED BY LAW, WE UNDERTAKE NO OBLIGATION TO UPDATE OR REVISE ANY FORWARD-LOOKING STATEMENT AS A RESULT OF NEW INFORMATION, FUTURE EVENTS OR OTHERWISE.

Investor Relations Contact

Philip Taylor

Gilmartin Group

investors@iridex.com

Iridex Announces Plans to Relocate Headquarters