iCAD Reports Financial Results for Fourth Quarter ended December 31, 2022 and Year End

New leadership to host conference call and webcast
today at 4:30 PM ET

NASHUA, N.H. – March 28, 2023 – iCAD, Inc. (NASDAQ:
ICAD), a global medical technology leader providing innovative cancer
detection and therapy solutions, today reported its financial and operating
results for the twelve months ended
December 31, 2022.

Highlights: 

• Company continues
  to invest in Detection business, driving commercial growth through global
  adoption of Breast AI Suite while exploring strategic options for Therapy
  segment
• Several strategic
  partnership agreements signed in Q4, including Google Health and Solis Mammography,
  positioning the Company for growth
• Promising clinical
  research reaffirms clinical value and utility of Breast AI Suite
• Company reduces
  annualized expenses by $4.3 to $4.6 million and decreases annualized cash burn by
  $4.9 to $5.2 million

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Full Results