ICAD INC

icadmed.com

No Longer Reporting

The company has not filed an annual or quarterly report since its Q1 FY2025 10-Q, filed May 13, 2025. Its latest SEC filing is a SCHEDULE 13G/A from Nov 10, 2025.

The sections below describe the company as of the FY2024 annual report.

How Did They Make Money?

revenue

Segment	Share	Revenue
Products and Perpetual Licenses	37%
Subscription Term Licenses	25%
Cloud Subscriptions	1.2%
Services and Support	36%

Did Revenues Turn Into Profits?

No. It lost $5.6M in FY2024.

Operating income, FY2024

−32% of revenue

▼ −18% (Loss) vs FY2023 (−$7.7M, −44%)

Net income, FY2024

−29% of revenue

▲ +16% (Loss) vs FY2023 (−$4.8M, −28%)

Free cash flow, FY2024

−21% of revenue

▼ −30% (Loss) vs FY2023 (−$5.9M, −34%)

How Were They Changing?

Since the FY2024 annual report

Latest quarter: Q1 FY2025, the three months to Mar 31, 2025

Revenue: ▼ −2%; vs $5M in Q1 FY2024
Net income: ▼ −32% (Loss); vs −$1.2M in Q1 FY2024

Products and Perpetual Licenses share of revenue vs 46.2% in Q1 FY2024

Shrank. Revenue fell 34% in 4 years, from $29.7M in FY2020 to $19.6M in FY2024, about 10% a year.

Revenue over time

Products and Perpetual Licenses Subscription Term Licenses Cloud Subscriptions Services and Support

$20M$10M$0

FY2023 FY2024

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