ICAD, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2022
March 28, 2023 at 04:01 pm EDT
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iCAD, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2022. For the fourth quarter, the company reported revenue was USD 6.49 million compared to USD 7.81 million a year ago. Net loss was USD 3.1 million compared to USD 4.15 million a year ago. Basic loss per share from continuing operations was USD 0.12 compared to USD 0.17 a year ago. Diluted loss per share from continuing operations was USD 0.12 compared to USD 0.17 a year ago.
For the full year, revenue was USD 27.94 million compared to USD 33.64 million a year ago. Net loss was USD 13.66 million compared to USD 11.25 million a year ago. Basic loss per share from continuing operations was USD 0.54 compared to USD 0.45 a year ago. Diluted loss per share from continuing operations was USD 0.54 compared to USD 0.45 a year ago.
iCAD, Inc. provides artificial intelligence-powered cancer detection. Its ProFound Breast Health Suite enables medical providers and professionals to accurately and reliably identify where cancer may be hiding. Its Cancer Detection segment solutions include advanced artificial intelligence and image analysis workflow solutions that enable healthcare professionals to better serve patients by identifying pathologies and pinpointing the prevalent cancers earlier, a range of upgradeable computer-aided detection systems and workflow solutions for digital breast tomosynthesis, full-field digital mammography, magnetic resonance imaging and computed tomography. ProFound Suite offers 360-degree solutions for cancer detection, density assessment, and personalized risk evaluation, all based on a 2D or 3D mammogramâs collection of images. ProFound Density Assessment standardizes and simplifies breast density reporting, algorithmically examining a womanâs breast anatomy from the mammogram image.