ICAD Earnings Prediction
The chart below shows how ICAD performed 10 days before and after its earnings report, based on data from the past quarters. Typically, ICAD sees a +4.00% change in stock price 10 days leading up to the earnings, and a -1.55% change 10 days following the report. On the earnings day itself, the stock moves by -0.02%. This data can give you a slight idea of what to expect for the next quarter's release.
ICAD Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
4.22M
3.54%
-16.15%
Gross Margin
84.85%
-0.26%
2.75%
Operating Margin
-47.78%
59.64%
37.46%
Net Margin
-42.71%
67.75%
23.51%
EPS
-0.07
-40.00%
-0.00%
No Data Available
ICAD Earnings Analysis
ICAD Inc Corporation (ICAD.O) Earnings Conference Call
Positive
Q3 Revenue Growth Analysis: Revenue growth of 4% in Q3 2024 compared to Q3 2023, reaching $4.2 million, driven by key deals and an expanded sales team.
Enhanced Cancer Detection Accuracy: ProFound Detection Version 4.0 received FDA clearance, offering a 22% improvement in detecting challenging cancers and an 18% reduction in false positives, enhancing diagnostic accuracy and efficiency.
Q3 Deal Closure Summary: Closed a total of 85 deals in Q3 2024, including 13 cloud deals, contributing over $850,000 to backlog for both billings and GAAP revenue.
Annual Recurring Revenue Growth: Total Annual Recurring Revenue (TARR) increased to $9.3 million as of September 30, 2024, up from $8.4 million in Q3 2023, reflecting strong growth in subscription and cloud services.
Rapid Adoption and Efficiency: ProFound Cloud processed over 100,000 cases in its first two full quarters of U.S. availability, demonstrating rapid early adoption and achieving processing speeds more than 50% faster than traditional solutions.
Negative
Increased Net Loss: GAAP net loss from continuing operations increased to $1,800,000 or $0.07 per diluted share in Q3 2024, compared to a loss of $1,000,000 or $0.04 per diluted share in Q3 2023, indicating a worsening financial performance year-over-year.
Operating Expenses Increase: Total operating expenses rose by $900,000 or 19% year-over-year to $5,600,000 in Q3 2024, primarily driven by increased investments in R&D and regulatory efforts, which may strain future profitability.
Service Revenue Decline: Service revenue declined by 9% year-over-year to $1,700,000 in Q3 2024, reflecting a shift of service customers migrating to subscription or cloud products, negatively impacting overall revenue stability.
Maintenance Services Revenue Decline: Maintenance services ARR decreased to $6,700,000 from $7,000,000 in Q3 2023, indicating a loss of recurring revenue as customers transition to newer subscription models, which could affect long-term revenue predictability.
Operating Cash Flow Challenges: Net cash used for operating activities was $2,600,000 for the first nine months of 2024, showing a significant cash outflow that, despite a year-over-year improvement, still highlights ongoing financial challenges.
ICAD FAQs
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ICAD Earning Call Sentiment
Earnings call transcript: iCAD Q3 2024 sees revenue rise, SaaS shift
ICAD.O
1.75%Positive
The earnings call presents a mixed outlook. There are positives like strong deal growth and cloud transition, but concerns about increased operating expenses and a wider net loss. The Q&A section highlights uncertainties, such as the impact of new regulations and the transition timeline for existing customers. The market's reaction may be muted as the company navigates these challenges, especially without clear guidance on key issues. Given these factors, the stock price is likely to remain stable in the short term.
