Launched ProFound AI™ Risk Offering After Receiving CE Mark in Europe

Recent 50 System Agreement with SimonMed Imaging Highlights Significant
Value of ProFound
AI Solution

Expert Panel Reviews Compelling Clinical Data on Xoft® Brain IORT

Conference Call Today at 4:30 p.m. ET

N.H. – AUGUST 4, 2020 –  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 three and six months ended
June 30, 2020.


  • Revenue
    of $5.6 million for the second quarter of 2020
  • Operating
    expenses of $6.7 million, a 21% and a 7% reduction as compared to the first quarter
    of 2020 and the second quarter of 2019, respectively
  • Net
    loss for the second quarter of 2020 was ($2.4) million, or ($0.11) per diluted
    share, compared with a net loss of ($3.5) million, or ($0.20) per diluted
    share, for the second quarter of 2019
  • Maintained
    gross profit margin of 78% as compared to second quarter of 2019
  • Cash
    balance of $24.2 million at the end of the second quarter of 2020
  • Announced
    50 Profound AI™ licenses with SimonMed Imaging, a national provider of
    mammography screening, allowing patients to receive “real-time” essential
    breast screening
  • New
    ProFound AI Risk offering launched in Europe
    First and only commercially
    available clinical decision support tool provides accurate two-year breast
    cancer risk estimation personalized for each woman
  • Presented
    positive new clinical data for Xoft® Brain IORT at American Society of Clinical
    Oncology (ASCO) 2020 Virtual Scientific Program
    Promising clinical
    research supports Xoft Brain IORT as a viable treatment option for glioblastoma
    multiforme (GBM) that may extend patients’ lives
    Overall survival
    benefit reached statistical significance in the IORT group with tumors less
    than or equal to 2.5 cm3 (p<0.05)

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