ICAD, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 13, 2023 at 04:01 pm EST
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iCAD, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported revenue was USD 4.07 million compared to USD 4.36 million a year ago. Net loss was USD 1.37 million compared to USD 3.9 million a year ago. Basic loss per share from continuing operations was USD 0.04 compared to USD 0.12 a year ago. Diluted loss per share from continuing operations was USD 0.04 compared to USD 0.12 a year ago. Basic loss per share was USD 0.05 compared to USD 0.15 a year ago. Diluted loss per share was USD 0.05 compared to USD 0.15 a year ago.
For the nine months, revenue was USD 12.58 million compared to USD 15.17 million a year ago. Net loss was USD 6.9 million compared to USD 10.56 million a year ago. Basic loss per share from continuing operations was USD 0.25 compared to USD 0.3 a year ago. Diluted loss per share from continuing operations was USD 0.25 compared to USD 0.3 a year ago. Basic loss per share was USD 0.27 compared to USD 0.42 a year ago. Diluted loss per share was USD 0.27 compared to USD 0.42 a year ago.
iCAD, Inc. is a global medical technology company, which provides cancer detection and therapy solutions. The Company is focused on providing breast cancer detection solutions built on artificial intelligence (AI) that empowers radiologists to find cancers. Its solutions include advanced image analysis and workflow solutions that enable healthcare professionals to better serve patients by identifying pathologies and pinpointing the most prevalent cancers earlier, and a range of high-performance, AI and computer-aided detection (CAD) systems and workflow solutions for 2D and 3D mammography, magnetic resonance imaging and computed tomography (CT). The Companyâs Breast AI Suite offers a triple threat of clinically proven cancer detection, density assessment, and risk evaluation solutions, designed to accelerate discovery and improve outcomes. It also offers ProFound AI, a digital breast tomosynthesis (DBT) cancer detection and workflow solution.