NASHUA, N.H., Feb. 19, 2025 (GLOBE NEWSWIRE) -- iCAD, Inc. (NASDAQ: ICAD) ("iCAD" or the "Company") a global leader on a mission to create a world where cancer can’t hide by providing clinically proven AI-powered breast health solutions, today announced that five clinical presentations and abstracts highlighting the Company’s advancements in breast cancer detection, risk evaluation, and breast arterial calcification (BAC) assessment have been accepted for presentation at the European Congress of Radiology ( ...

iCAD to Participate in the BTIG at Snowbird:12th Annual MedTech, Digital Health, Life Science & Diagnostic Tools Conference NASHUA, N.H., Jan. 27, 2025 (GLOBE NEWSWIRE) -- iCAD, Inc. (NASDAQ: ICAD) (“iCAD” or the “Company”), a global leader on a mission to create a world where cancer can’t hide by providing clinically proven AI-powered breast health solutions, today reported select preliminary, unaudited financial results for the fourth quarter of 2024. Based on preliminary, unaudited financial information, ...

NASHUA, N.H., Dec. 04, 2024 (GLOBE NEWSWIRE) -- Further to a release issued under the same headline on November 26, 2024 13:00 ET by iCAD, Inc., the headline and fourth paragraph have been updated to acknowledge a pending trademark application for the mark “SecondReadAI” by Lunit, Inc. The corrected release follows: iCAD, Inc. (NASDAQ: ICAD) (“iCAD” or the “Company”), a global leader in clinically proven AI-powered cancer detection solutions, will showcase its groundbreaking breast health AI technologies at ...

NASHUA, N.H., Nov. 26, 2024 (GLOBE NEWSWIRE) -- iCAD, Inc. (NASDAQ: ICAD) (“iCAD” or the “Company”), a global leader in clinically proven AI-powered cancer detection solutions, will showcase its groundbreaking breast health AI technologies at the Radiological Society of North America (RSNA) 2024 Annual Meeting in Chicago, December 1-5. Key highlights include the recent FDA-cleared ProFound Detection Version 4, clinical research presentations, and a new partnership with Cascaid Health to expand access to AI- ...

Financial Performance - Total revenue for Q3 2024 was $4,217,000, a 3.5% increase from $4,073,000 in Q3 2023[8] - Product revenue increased to $2,508,000 in Q3 2024, up 14.1% from $2,198,000 in Q3 2023[8] - Gross profit for the nine months ended September 30, 2024, was $11,965,000, compared to $10,463,000 for the same period in 2023, reflecting a 14.4% increase[8] - The net loss for Q3 2024 was $1,801,000, compared to a net loss of $1,374,000 in Q3 2023[8] - For the nine months ended September 30, 2024, the net loss was $4,762,000 compared to a net loss of $6,902,000 for the same period in 2023, representing a 30.9% improvement[13] - Total revenue for the nine months ended September 30, 2024, increased by approximately $1.6 million or 12.9% to $14.2 million compared to $12.6 million for the same period in 2023[108] - Product revenue for the nine months ended September 30, 2024, increased by approximately $1.9 million or 27.3% to $8.9 million, attributed to higher demand for subscription licenses[108] Operating Expenses - Operating expenses rose to $5,649,000 in Q3 2024, compared to $4,740,000 in Q3 2023, marking a 19.2% increase[8] - Operating expenses for the nine months ended September 30, 2024 were approximately flat at $17.4 million compared to the same period in 2023, with a slight decrease of $67 thousand or 0.4%[123] - Engineering and product development costs increased by approximately $0.8 million or 67.9% to $1.9 million for the three months ended September 30, 2024, primarily due to higher personnel costs[120] - Marketing and sales expenses rose by approximately $0.5 million, or 9.1%, from $5.7 million in the nine months ended September 30, 2023 to $6.2 million in 2024, driven by higher commissions on increased sales revenue[125] - General and administrative expenses decreased by approximately $1.9 million, or 24.5%, from $7.7 million in the nine months ended September 30, 2023 to $5.8 million in 2024, mainly due to cost-saving measures[126] Cash Flow and Liquidity - Cash and cash equivalents decreased to $18,793,000 as of September 30, 2024, down from $21,670,000 at the end of 2023[6] - The company had cash on hand of $18.8 million, which is deemed sufficient to sustain operations through at least the next 12 months[96] - Net cash used for operating activities improved to $2.6 million for the nine months ended September 30, 2024, compared to $3.5 million in the same period of 2023, due to cost-saving initiatives[139] - Net cash used for investing activities decreased to $263 thousand in the nine months ended September 30, 2024, from $675 thousand in 2023, primarily related to the completion of the ProFound Cloud software project[140] Assets and Liabilities - Total assets decreased to $37,107,000 as of September 30, 2024, from $41,418,000 at the end of 2023[6] - Total liabilities decreased to $7,734,000 as of September 30, 2024, down from $8,001,000 at the end of 2023[6] - Stockholders' equity decreased to $29,373,000 as of September 30, 2024, compared to $33,417,000 at the end of 2023[6] - The company reported total assets measured at fair value of $16.083 million as of September 30, 2024, all classified as Level 1 measurements[36] Business Operations and Strategy - The company completed the sale of its Xoft business line on October 23, 2023, and now operates solely in the Cancer Detection segment[16] - Approximately 16% of the company's total revenue for the nine months ended September 30, 2024, was derived from customers located outside the United States, compared to 14% in the same period of 2023[22] - The Company provided migration and transition services under a transition services agreement for five months following the sale of the Xoft business[29] - The Company completed the sale of its Xoft business line for total cash consideration of approximately $5.76 million, with $5 million received in November 2023 and $0.7 million held in escrow[27] Stock and Compensation - The Company has 3,092,336 stock options outstanding as of September 30, 2024, compared to 3,209,591 options as of September 30, 2023[52] - The 2024 Omnibus Equity Incentive Plan allows for the issuance of up to 2,000,000 shares of common stock, with no awards granted since its approval[73] - The total stock-based compensation expense was $214 thousand for the three months ended September 30, 2024, compared to $303 thousand for the same period in 2023, representing a decrease of approximately 29.4%[74] - Stock-based compensation for the nine months ended September 30, 2024, was $718,000, down from $1,114,000 in the same period of 2023, a decline of 35.5%[13] Tax and Regulatory - The effective tax rates for the three and nine months ended September 30, 2024, were less than 1%, consistent with the previous year, primarily due to changes in valuation allowances[79] - The effective date for ASU No. 2023-09, requiring detailed income tax disclosures, is for fiscal years beginning after December 15, 2024[24] - ASU No. 2024-03, requiring disaggregated disclosure of income statement expenses, will be effective for fiscal years beginning after December 15, 2026[25] - The Company is evaluating the disclosure requirements related to the new segment reporting standard effective for fiscal year 2024[23]

iCAD, Inc. (NASDAQ:ICAD) Q3 2024 Earnings Conference Call November 13, 2024 4:30 PM ET Company Participants Rosalyn Christian - Investor Relations Dana Brown - President, Chief Executive Officer and Chairman Eric Lonnqvist - Chief Financial Officer Conference Call Participants Per Ostlund - Craig-Hallam Capital Yale Jen - Laidlaw & Company Operator Greetings. Welcome to the iCAD Incorporated Third Quarter 2024 Earnings Call. At this time, all participants are in a listen-only mode. A question-and-answer ses ...

Exhibit 99.1 % Change Since Start of Subscription Sales 39% iCAD Reports Financial Results for Third Quarter Ended September 30, 2024 NASHUA, N.H. – November 13, 2024 – iCAD, Inc. (NASDAQ: ICAD) ("iCAD" or the "Company") a global leader on a mission to create a world where cancer can't hide by providing clinically proven AI-powered breast health solutions, today reported its financial and operating results for the three and nine months ended September 30, 2024. Third Quarter 2024 Highlights (Year over Year ...

NASHUA, N.H., Nov. 13, 2024 (GLOBE NEWSWIRE) -- iCAD, Inc. (NASDAQ: ICAD) ("iCAD" or the "Company") a global leader on a mission to create a world where cancer can’t hide by providing clinically proven AI-powered breast health solutions, today reported its financial and operating results for the three and nine months ended September 30, 2024.  Third Quarter 2024 Highlights (Year over Year Performance): Total ARR was $9.3 million, up 10% year over yearTotal revenues were $4.2 million, up 4% year over yearGro ...

NASHUA, N.H., Nov. 06, 2024 (GLOBE NEWSWIRE) -- iCAD, Inc. (NASDAQ: ICAD) (“iCAD” or the “Company”) a global leader on a mission to create a world where cancer can’t hide by providing clinically proven AI-powered breast health solutions, today announced that Dana Brown, Chief Executive Officer, and Eric Lonnqvist, Chief Financial Officer, will attend the 15th Annual Craig-Hallum Alpha Select Conference on Tuesday, November 19, 2024 at the Sheraton New York Times Square Hotel in New York City, New York. Mana ...

● ● ● iCAD to Participate in the LD Micro Main Event XVII October 16, 2024 8:00 AM EDT | Source: LD Micro Nashua, New Hampshire--(Newsfile Corp. - October 16, 2024) - iCAD, Inc. (NASDAQ: ICAD) ("iCAD" or the "Company") a global leader on a mission to create a world where cancer can't hide by providing clinically proven AI-powered breast health solutions, announced today that management is participating in the LD Micro Main Event XVII on October 29-30, at the Luxe Sunset Boulevard Hotel, California. CEO Dana ...