IceCure Medical Earnings Call Transcripts
Fiscal Year 2026
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Revenue grew 26% year-over-year in Q1 2026, with strong U.S. and North American performance. FDA clearance for low-risk breast cancer has accelerated adoption, expanded the active account base, and driven global interest, with continued growth and commercial expansion expected.
Fiscal Year 2025
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Record 2025 revenue of $3.4M was driven by FDA clearance and new guidelines for ProSense, fueling strong U.S. and global adoption. Expansion into Canada and Japan, a 30-site post-marketing study, and reimbursement improvements are expected to accelerate growth.
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FDA marketing authorization for ProSense positions the company for significant U.S. and global growth, with an addressable market of over 200,000 patients annually. Revenue and gross margin declined year-over-year, but capital raises have strengthened the financial position.
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FDA granted marketing authorization for ProSense Cryoablation for low-risk breast cancer in women 70+, making it the first device of its kind. Commercial rollout and a 400-patient post-market study will proceed in parallel, with strong reimbursement and global expansion plans.
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Regulatory progress continues with FDA review of ProSense and optimism for approval by year-end 2025. Revenue and gross margin declined year-over-year due to shipment delays, but a $10 million rights offering strengthens the cash position for upcoming milestones. Additional traction in Europe and Japan is driven by strong clinical evidence.
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Q1 2025 saw stable revenue with growth in North America and Europe, offset by declines in Asia. The FDA is reviewing a post-market study plan for ProSense, with commercial launch and expanded reimbursement anticipated upon approval. Cash position was strengthened by a $2M bridge loan and share sales.
Fiscal Year 2024
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Product sales grew 42% in North America and 8% overall, with gross margin rising to 44%. Awaiting FDA approval for ProSense in early-stage breast cancer, with a favorable advisory panel vote and global regulatory milestones ahead.
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ProSense sales and gross margins surged in 2024, with narrowed net loss and strong cash position. FDA decision on U.S. breast cancer indication expected Q1 2025, with U.S. and Japan poised for further regulatory milestones and commercial expansion.
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ProSense sales grew 20% year-over-year, driving a 6.5% revenue increase and improved margins, while net loss narrowed. Key catalysts include an FDA advisory panel in Q4 2024 and a potential U.S. launch in 2025, with strong global demand and positive clinical data supporting growth.