Forensic Analysis · Healthcare / Pharmaceuticals / Biotech · as of Jun 28, 2026
Opus Genetics, Inc. (IRD)
A forensic read on Opus Genetics, Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
C · Mixed — selective
Forensic grade
Distress
Financial health
-11.4
Altman Z-score
Clean
Earnings quality
2
Forensic signals
-316.4%
ROE
$330M
Market cap
Opus Genetics, Inc. earns a C (Mixed — selective) forensic quality grade, and its Altman Z-score is -11.4, placing it in the Distress zone. 2 forensic signals were flagged in its latest SEC filings, led by share-count dilution.
What the filings flag
+67.4%/yrShare-count dilution.Diluted share count changed +202% over the last 3 years to FY2025 (+67.4%/yr). The count is GROWING — existing holders are being diluted. That's ~67.4% shaved off per-share growth every year — total profit has to grow that much just to keep earnings-per-share flat, and a stake held since FY2022 has been diluted ~202%.
24% of revStock-based comp load.Stock-based compensation ran 24% of revenue in FY2025 — about $0.05 per diluted share. Meaningful — reported free cash flow flatters the economics, since SBC is a real cost paid in shares.
Key fundamentals
Net Margin-349.3%
Debt / Equity0.07x
Free Cash Flow$-35.3M
Latest Revenue$14.2M
Return on Equity-323.1%
Revenue Growth YoY+29.1%
Go deeper — free with an account
The forensic grade and screens above are free — no account needed. An account adds the full interactive deep-dive on Opus Genetics, Inc.:
🔒The written investment read — what the numbers mean, in plain English
🔒Ask anything about IRD's filings — AI Q&A across the 10-K, 10-Qs & 8-Ks
🔒Interactive valuation — reverse-DCF sliders, Monte Carlo & scenario stress
🔒Calibrated 12-month price forecast, with the math shown