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Side-by-side financial comparison of IRIDEX CORP (IRIX) and SMITH MIDLAND CORP (SMID). Click either name above to swap in a different company.
SMITH MIDLAND CORP is the larger business by last-quarter revenue ($23.1M vs $14.7M, roughly 1.6× IRIDEX CORP). On growth, SMITH MIDLAND CORP posted the faster year-over-year revenue change (24.7% vs -69.7%). Over the past eight quarters, SMITH MIDLAND CORP's revenue compounded faster (17.4% CAGR vs 11.9%).
IRIDEX Corporation is a global medical technology company that designs, manufactures and distributes advanced laser-based medical devices, primarily serving the ophthalmology and aesthetic medicine sectors. It supplies products to healthcare providers, clinics and medical facilities across North America, Europe, Asia Pacific and other regions, delivering minimally invasive solutions for eye disease treatment and cosmetic procedures.
Smith Midland Corp is a specialized manufacturer of precast concrete products for infrastructure, commercial, residential and industrial construction uses. Its key product lines include highway safety barriers, acoustic sound walls, architectural precast panels, and stormwater management systems, serving primarily the North American market with durable, sustainable construction solutions.
IRIX vs SMID — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $14.7M | $23.1M |
| Net Profit | — | $2.1M |
| Gross Margin | 37.2% | 57.5% |
| Operating Margin | — | 37.8% |
| Net Margin | — | 9.2% |
| Revenue YoY | -69.7% | 24.7% |
| Net Profit YoY | — | 52.5% |
| EPS (diluted) | — | $0.41 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $14.7M | $23.1M | ||
| Q3 25 | $12.5M | $21.5M | ||
| Q2 25 | $13.6M | $26.2M | ||
| Q1 25 | $11.9M | $22.7M | ||
| Q4 24 | $12.7M | $18.5M | ||
| Q3 24 | $11.6M | $23.6M | ||
| Q2 24 | $12.6M | $19.6M | ||
| Q1 24 | $11.8M | $16.8M |
| Q4 25 | — | $2.1M | ||
| Q3 25 | $-1.6M | $2.9M | ||
| Q2 25 | $-994.0K | $4.2M | ||
| Q1 25 | $-1.7M | $3.3M | ||
| Q4 24 | $-834.0K | $1.4M | ||
| Q3 24 | $-1.9M | $3.1M | ||
| Q2 24 | $-2.7M | $2.0M | ||
| Q1 24 | $-3.5M | $1.1M |
| Q4 25 | 37.2% | 57.5% | ||
| Q3 25 | 32.1% | 26.8% | ||
| Q2 25 | 34.5% | 0.0% | ||
| Q1 25 | 42.5% | 30.7% | ||
| Q4 24 | 44.0% | 51.4% | ||
| Q3 24 | 37.3% | 27.9% | ||
| Q2 24 | 40.7% | 0.0% | ||
| Q1 24 | 37.9% | 23.3% |
| Q4 25 | — | 37.8% | ||
| Q3 25 | -11.3% | 18.0% | ||
| Q2 25 | -6.9% | 0.0% | ||
| Q1 25 | -1.7% | 19.3% | ||
| Q4 24 | -3.9% | 24.5% | ||
| Q3 24 | -16.1% | 16.3% | ||
| Q2 24 | -20.9% | 0.0% | ||
| Q1 24 | -28.0% | 9.0% |
| Q4 25 | — | 9.2% | ||
| Q3 25 | -12.6% | 13.4% | ||
| Q2 25 | -7.3% | 15.9% | ||
| Q1 25 | -14.2% | 14.7% | ||
| Q4 24 | -6.6% | 7.5% | ||
| Q3 24 | -16.7% | 13.4% | ||
| Q2 24 | -21.2% | 10.1% | ||
| Q1 24 | -29.5% | 6.8% |
| Q4 25 | — | $0.41 | ||
| Q3 25 | $-0.09 | $0.54 | ||
| Q2 25 | $-0.06 | $0.79 | ||
| Q1 25 | $-0.10 | $0.62 | ||
| Q4 24 | $-0.05 | $0.28 | ||
| Q3 24 | $-0.12 | $0.59 | ||
| Q2 24 | $-0.16 | $0.37 | ||
| Q1 24 | $-0.21 | $0.21 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $6.0M | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | — | $54.3M |
| Total Assets | $29.2M | $87.7M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $6.0M | — | ||
| Q3 25 | $5.6M | — | ||
| Q2 25 | $6.8M | — | ||
| Q1 25 | $7.2M | — | ||
| Q4 24 | $2.4M | — | ||
| Q3 24 | $3.9M | — | ||
| Q2 24 | $4.1M | — | ||
| Q1 24 | $5.4M | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $1.0M | — | ||
| Q3 24 | $1.4M | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | $54.3M | ||
| Q3 25 | $4.7M | $52.1M | ||
| Q2 25 | $6.1M | $49.2M | ||
| Q1 25 | $852.0K | $45.1M | ||
| Q4 24 | $2.1M | $41.7M | ||
| Q3 24 | $2.6M | $40.3M | ||
| Q2 24 | $4.2M | $37.2M | ||
| Q1 24 | $6.5M | $35.3M |
| Q4 25 | $29.2M | $87.7M | ||
| Q3 25 | $28.4M | $85.4M | ||
| Q2 25 | $31.6M | $81.2K | ||
| Q1 25 | $34.2M | $74.7M | ||
| Q4 24 | $29.1M | $68.0M | ||
| Q3 24 | $30.2M | $66.6M | ||
| Q2 24 | $31.2M | $64.0M | ||
| Q1 24 | $34.1M | $64.9M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.48× | — | ||
| Q3 24 | 0.53× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IRIX
Segment breakdown not available.
SMID
| Product Sales | $13.8M | 60% |
| Service Revenue | $9.3M | 40% |
