iCAD Reports Financial Results for Fourth Quarter and Fiscal Year Ended December 31, 2024 [Yahoo! Finance]
icad inc. (ICAD)
Last icad inc. earnings: 2/27 04:01 pm
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Source: Yahoo! Finance
where cancer can't hide by providing clinically proven AI-powered breast health solutions, today reported its financial and operating results for the fourth quarter and full year ended December 31, 2024. Fourth Quarter 2024 Highlights (Year-over-Year Performance): Total ARR (Annual Recurring Revenue) was $9.8 million, up 11% year over year Total revenues increased 14% to $5.4 million Gross Profit Margin of 86% 382 Total deals closed in 2024, 42 of which were ProFound Cloud ProFound Detection V4.0 granted FDA clearance Expanded global reach with new distribution agreements in South Africa, Portugal, and the UK Dana Brown, President and CEO of iCAD commented, “Our fourth-quarter results reflect strong momentum in our transition to a SaaS-based model, evidenced by growth of 11% in ARR year-over-year and the signing of 19 cloud deals, a sequential improvement from 13 deals signed in the third quarter of 2024. The growth in customer adoption of ProFound Cloud demonstrates t
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