announces board and leadership changes

call today at 4:30 p.m. ET


NASHUA, N.H. (November 13, 2018) – iCAD, Inc. (NASDAQ: ICAD), a global medical
technology company providing innovative cancer detection and therapy solutions,
today reported financial results for the three and nine months ended September
30, 2018.


Third Quarter 2018 Highlights:

  • Total revenue
    of $6.2 million, a decrease of 12% year-over-year
  • Gross profit
    of $4.7 million, or 77%
  • GAAP Net Loss
    of $1.4 million, or ($0.08) per share
  • Non-GAAP Adjusted
    EBITDA loss of ($0.4) million

Subsequent Events:

  •  In October, the Company appointed Michael
    Klein, Dr. Rakesh Patel, and Dr. Susan Wood to its Board of Directors.  Following these appointments Anthony Ecock,
    Dr. Robert Goodman, Dr. Lawrence Howard, Steven Rappaport, Somu Subramaniam, and
    Dr. Elliot Sussman resigned from the Company’s Board.  Michael Klein was appointed Chairman of the
  • On November 9, 2018 the Company
    announced that Ken Ferry had retired from his position as Chief Executive
    Officer (CEO) and stepped down as a Director of the Company, and that Mr. Klein
    was appointed Interim CEO.

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