Is IRIX diluting shareholders?

Read three numbers together: shares outstanding over time (17.4M as of 2026-05-11), warrants that can convert into new shares (600,000 reported), and how much cash runway remains (~26.070921985815602 months). A company short on cash with live registrations is structurally likely to issue shares.

Where do these numbers come from?

SEC EDGAR only: the XBRL company-facts API for shares, warrants and cash, and filing metadata for registrations and pricings. Every figure shows its source form, and nothing here is estimated by us beyond the arithmetic stated next to it.

Why might a warrant tranche be missing from the table?

The tranche table is built from the dimensions the company tagged in its own 10-Q or 10-K XBRL. A tranche the filer chose not to dimension does not appear, and its absence proves nothing: the exhibits remain the ground truth. Everything shown carries the filing it came from.

Dilution profile // every instrument, one screen, from SEC filings

IRIDEX CORP (IRIX)

CIK 1006045 · all EDGAR filings →

Overall dilution risk

HIGHworst of 4 computed signals (offering ability)

= the worst band among the computed sub-ratings, no hidden weighting

Offering ability

HIGHS-3 on file 2024-09-05

= is there a registration (S-1/S-3 family) on file without a later withdrawal

no structured fee data on the live registrations, so this is a yes/no, not a size

Overhead supply

LOWwarrants = 3% of O/S

= warrant shares outstanding divided by current shares outstanding (bands: 20% / 50%)

warrants only; converts, ATMs and equity lines are not in free structured data, so the true overhead is AT LEAST this

Historical dilution

LOW+7% O/S in 3y

= share count now vs 3 years ago (bands: 30% / 100%); a reverse split pushes this negative

Cash need

LOW~26.1 months of runway

= cash vs trailing operating burn (bands: 6mo / 24mo; positive operating CF = low)

the company itself flagged going-concern doubt

Same rating bands the category standard uses, but free, with the formula on the chip and the gaps in the data said out loud.

Shares outstanding over time

Latest: 17.4M shares as of May 11, 2026 (10-Q).

Cash runway

Going-concern warning

auditor flagged substantial doubt

The company itself flagged going-concern doubt in a filing.

Full breakdown: cash runway tool · source filing →

Warrants

Warrants outstanding: 600,000 underlying shares, as reported Aug 31, 2007 (10-K).

Reported exercise price: $0.01 (aggregate figure as tagged; individual tranches vary).

Rough fully diluted estimate: 18.0M = 17.4M O/S + 600,000 warrant shares. An estimate, not a filing figure: it ignores converts, options and RSUs, and the two inputs carry different as-of dates.

Convertible notes

Note	Principal	Carrying	Conv. price	Rate	If converted
Novel Notes	$4.0M	—	$0.21	—	~19.0M sh

If every note above converted at its tagged price: ~19.0M new shares on 17.4M currently outstanding. An estimate from principal ÷ conversion price, with inputs carrying different as-of dates; make-whole adjustments, capped calls and partial repurchases are not modeled.

Notes exactly as the company dimensioned them in its 10-Q filed May 19, 2026 →. Principal is face amount as tagged, not what remains after repurchases unless the filer updated the tag. A note the filer did not dimension is absent here, not absent from the balance sheet; the exhibits stay the ground truth.

Fully diluted build-up

Shares outstanding plus every potential-share instrument the filer tagged in XBRL, each at its own as-of date. An estimate assembled from filed figures, not a filing figure itself.

Shares outstanding	17.4M	May 11, 2026
+ Warrants (aggregate, as tagged) (if exercised)	600,000	Aug 31, 2007
+ Novel Notes (if fully converted)	19.0M	Mar 19, 2025
Fully diluted estimate	37.1M	+112.9% vs O/S

Still excluded, because the filer does not tag them in countable form: employee options and RSUs, any instrument living only in exhibit prose, and instruments above missing a share count. Inputs carry different as-of dates, shown per row. Each figure traces to the tranche and note tables above and their cited filings.

Registrations and offerings

S-3Sep 5, 2024no structured fee exhibit in this filing (predates fee-data XBRL or fee deferred)filing →

Last 12 months: 0 executed · 0 registered.

EXECUTEDMar 20, 2025Unregistered share sale disclosed (8-K item 3.02)8-K →

UPDATESep 25, 2024Prospectus update — often a resale registration, not necessarily new capital424B3 →

EFFECTIVESep 24, 2024SEC declared a registration effective — selling can beginEFFECT →

REGISTEREDSep 5, 2024S-3 registration — capacity to sell shares, not a sale yetS-3 →

EXECUTEDAug 5, 2024Unregistered share sale disclosed (8-K item 3.02)8-K →

UPDATEJul 27, 2021Prospectus update — often a resale registration, not necessarily new capital424B3 →

EFFECTIVEJul 27, 2021SEC declared a registration effective — selling can beginEFFECT →

REGISTEREDJul 9, 2021S-3 registration — capacity to sell shares, not a sale yetS-3 →

EXECUTEDSep 14, 2018Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5 →

EXECUTEDSep 13, 2018Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5 →

EXECUTEDDec 9, 2016Final prospectus — offering priced (typical for IPOs and marketed share deals)424B4 →

EXECUTEDDec 9, 2016Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5 →

Full history and shelf status: offering checker · S-3 shelf checker

Source: SEC EDGAR XBRL company facts and filing metadata, fetched live and cached briefly. Share counts are cover-page figures with their form named. Warrant tranches and convertible notes come from the dimensioned facts in the latest 10-Q/10-K instance document, exactly as the company tagged them; untagged tranches and notes are absent, not disproven. Nothing on this page is manually verified and nothing is behind a login: what free data supports is shown, what it cannot support is stated. Not investment advice.

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