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iCAD Inc (ICAD)
NASDAQ:ICAD
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Earnings Data
Report Date
Feb 26, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-$0.06Last Year’s EPS
-$0.02Same Quarter Last Year
Strong Buy
Based on 3 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 13, 2024
|% Change Since: -21.79%
|Next Earnings Date:Feb 26, 2025
Earnings Call Sentiment|Neutral
The earnings call highlighted notable achievements such as revenue growth, FDA clearance for a new product version, and global expansion. However, the increased net loss and the transition impact on revenue were significant challenges. Overall, the company is optimistic about its strategic transformation and future growth.Company Guidance
During the third quarter of 2024 earnings call, iCAD provided detailed guidance emphasizing its strategic transition towards a Software-as-a-Service (SaaS) model, which is expected to generate a high-margin recurring revenue stream. The company reported a 4% increase in revenue compared to Q3 2023. Notably, iCAD achieved an 18% reduction in false positives with its ProFound Detection version 4.0, which also offers a 22% improvement in detecting challenging cancers. The quarter saw the closure of 85 deals, including 52 perpetual, 20 subscription, and 13 cloud agreements, contributing over $850,000 to the revenue backlog. The ProFound Cloud platform processed over 100,000 cases, marking rapid early adoption and showcasing efficiency gains with processing speeds more than 50% faster than traditional solutions. The company's total annual recurring revenue (ARR) reached $9.3 million, with a notable increase in subscription ARR to $2.2 million. Despite a reported GAAP net loss due to the transition, iCAD's strategic shift is positioned to ensure stable, predictable revenue and cash flow in the future.Revenue Growth
ICAD reported a 4% revenue growth compared to the third quarter of 2023.
FDA Clearance for ProFound Detection 4.0
The new version offers a 22% improvement in detecting challenging cancers and an 18% reduction in false positives.
Global Expansion
New commercial distribution alliances in several countries and regulatory clearance in South Africa were achieved.
Increased Deal Count
Closed a total of 85 deals in Q3 2024, up from 67 deals in Q3 2023.
ProFound Cloud Adoption
ProFound Cloud processed over 100,000 cases in its first two full quarters of availability.
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ICAD Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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ICAD Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 13, 2024 | $2.34 | $1.78 | -23.93% |
| Aug 13, 2024 | $1.36 | $1.40 | +2.94% |
| May 15, 2024 | $1.63 | $1.77 | +8.59% |
| Mar 12, 2024 | $1.73 | $1.80 | +4.05% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does iCAD Inc (ICAD) report earnings?
iCAD Inc (ICAD) is schdueled to report earning on Feb 26, 2025, TBA Not Confirmed.
What is iCAD Inc (ICAD) earnings time?
iCAD Inc (ICAD) earnings time is at Feb 26, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is ICAD EPS forecast?
ICAD EPS forecast for the fiscal quarter 2024 (Q4) is -$0.06.
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