iCAD, Inc. Pre-Announces Estimated Q4 2024 Revenue

On January 27, 2025, iCAD, Inc. (NASDAQ: ICAD) disclosed certain preliminary, unaudited financial information for the fourth quarter ending on December 31, 2024, alongside additional corporate developments. The company reported that total revenue for the fourth quarter of 2024 is expected to range between approximately $5.1 million and $5.3 million. Moreover, Total Annual Recurring Revenue (T-ARR) reached around $9.8 million, marking an 11% increase year-over-year. During this quarter, iCAD closed a total of 106 deals, with 19 of these being cloud deals with both new and existing customers.

Additionally, iCAD revealed its participation in the BTIG at Snowbird: 12th Annual MedTech, Digital Health, Life Science & Diagnostic Tools Conference scheduled from February 11 to 12, 2025, in Snowbird, Utah. At the event, Dana Brown, Chief Executive Officer, and Eric Lonnqvist, Chief Financial Officer, will engage in individual meetings with investors. Interested parties are encouraged to reach out to their BTIG representative to request a meeting with iCAD.

While the consolidated financial statements for the twelve months ending on December 31, 2024, are currently unavailable, full audited results for the fourth quarter and the year ending December 31, 2024, are expected to be formally announced in March 2025.

It is crucial to note that the preliminary financial estimates provided for the fourth quarter concluding on December 31, 2024, are approximate and based solely on management’s estimations utilizing available preliminary data. These estimates remain subject to considerations of subsequent events, specifically concerning significant estimates and assumptions used in preparing the consolidated financial statements for the twelve months ending on December 31, 2024. Final consolidated financial results for the fourth quarter of 2024 may deviate materially from the estimates and interim balances outlined in this release. Furthermore, the information presented does not encompass all essential details for a comprehensive understanding of the company’s complete fiscal year concluding on December 31, 2024.

For further insights into non-GAAP financial measures used or discussed by iCAD and reconciliations with GAAP financial measures, investors can access relevant information after the condensed consolidated financial statements in the company’s press releases, conference calls, slide presentations, or webcasts, located on the Investors section of the company’s website at www.icadmed.com.

iCAD, Inc. is a globally renowned entity dedicated to revolutionizing cancer detection through clinically proven AI-powered solutions. The company aims to facilitate early and accurate cancer detection, thereby enhancing patient outcomes. Headquartered in Nashua, N.H., iCAD’s flagship ProFound Breast Health Suite leverages AI for mammography analysis, breast cancer detection, density assessment, and risk evaluation. The suite is endorsed by the U.S. Food & Drug Administration (FDA), having also received CE mark and Health Canada licensing. Accessibility in over 50 countries has empowered thousands of providers in serving millions of patients. Notably, iCAD estimates analyzing over 40 million mammograms globally in the last five years, with nearly 30% being tomosynthesis. For comprehensive information, visit www.icadmed.com.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read iCAD’s 8K filing here.

About iCAD

iCAD, Inc engages in the provision of cancer detection and therapy solutions in the United States. It operates through two segments, Detection and Therapy. The company provides ProFound AI for digital breast tomosynthesis and 2D mammography; PowerLook, a density assessment solution; and ProFound Risk, a breast cancer risk analysis.