Icecure Medical Ltd. ( (ICCM) ) has released its Q4 earnings. Here is a breakdown of the information Icecure Medical Ltd. presented to its investors.
IceCure Medical Ltd. is a company specializing in the development and marketing of minimally-invasive cryoablation technology for tumor treatment, focusing on areas such as breast, kidney, bone, and lung cancer. Their flagship product, ProSense®, offers a non-surgical alternative for tumor removal by freezing, and is marketed globally.
IceCure Medical has reported its financial results for 2024, highlighting a 42% growth in ProSense® cryoablation sales in North America. The company is currently awaiting an FDA decision on marketing authorization for ProSense® in treating early-stage low-risk breast cancer with endocrine therapy. This year, ProSense® has also been positively featured in 33 peer-reviewed journals and medical conferences.
The company’s financial performance showed an increase in total revenue to $3.29 million, up from $3.23 million in 2023, driven by product sales in North America, Europe, and Japan. Gross profit rose by 12% to $1.45 million, with a gross margin increase to 44%. Despite these gains, IceCure reported a net loss of $15.32 million, partly due to increased sales and marketing expenses as they prepare for potential U.S. market authorization.
Looking ahead, IceCure Medical is poised for several significant developments in 2025, including the anticipated FDA decision on ProSense® for breast cancer, potential regulatory approval in Japan, and the release of additional third-party data. The company remains optimistic about furthering its market presence and expanding the adoption of its cryoablation technology globally.