Company implements corporate strategic realignment

recurring revenue model anticipated to drive future growth 

Cost structure reduction
to decrease expenses by over $3 million annually

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

NASHUA, N.H. – November 10, 2022 – 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 nine months
ended September 30, 2022.


  • Increased
    demand for flexible subscription model drives spike in subscription sales, with
    more subscriptions booked in the third quarter than in the first six months of
    2022, continuing to build long-term recurring revenue opportunities
  • Company
    introduces new Subscription Annual Recurring Revenue (S-ARR) metric to highlight
    progress of subscription sales
  • Company
    implements cost structure realignment to match evolving short term revenue
    trajectory from conversion of perpetual licenses to subscription models, while
    maintaining investments in key growth initiatives
  • Restructuring commercial
    sales team to better support current and future business operations with
    dedicated U.S. sales leader for Detection business, skilled in executing growth
    in recurring revenue model businesses.

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