iCAD Reports First Quarter 2019 Financial Result
U.S. adoption of ProFound AI™, the Company’s deep-learning
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NASHUA, N.H. – May 7,
2019 – iCAD, Inc. (NASDAQ: ICAD), a global medical
technology leader providing innovative cancer detection and therapy solutions,
today reported financial results for the three months ended March 31, 2019.
First Quarter 2019
Highlights:
- Total
revenue of approximately $6.7 million, an increase of 7% over first quarter of
2018 - Gross
profit of $5.3 million, or 78% in the first quarter of 2018 as compared to $4.5
million or 71% in the first quarter of 2018. - GAAP
Net Loss of $3.7 million, or ($0.22) per diluted share, which includes a $2.5
million non-cash charge associated with the fair value accounting treatment of the
Q4, 2018 convertible debentures - Non-GAAP Adjusted EBITDA loss of ($0.6) million
compared to non-GAAP Adjusted EBITDA loss of ($2.4) million in the first
quarter of 2018.