Icecure Medical Ltd. ( (ICCM) ) has released its Q1 earnings. Here is a breakdown of the information Icecure Medical Ltd. presented to its investors.
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IceCure Medical Ltd., a company specializing in minimally-invasive cryoablation technology for tumor destruction, operates primarily in the medical device sector with a focus on providing alternatives to surgical tumor removal.
In its first-quarter 2025 earnings report, IceCure Medical highlighted its strategic advancements and financial performance, including the submission of a post-market study plan to the FDA for its ProSense® system, which is under review for treating early-stage low-risk breast cancer in women aged 70 and over. The company also noted increased interest in North America for its ProSense® system.
Key financial metrics for the quarter ending March 31, 2025, showed a slight decline in revenue to $725,000 from $743,000 the previous year, primarily due to decreased sales in Asia. However, sales in Europe and North America saw an uptick. The company reported a net loss of $3.59 million, a slight improvement from the previous year’s $3.61 million loss. Research and development expenses decreased by 15%, while sales and marketing expenses increased by 24%, reflecting a strategic focus on expanding market presence.
Looking ahead, IceCure Medical remains optimistic about receiving FDA marketing authorization for ProSense® and anticipates several milestones, including regulatory filings in Japan and Israel and the publication of third-party data. The company continues to focus on building commercial scale sales and does not foresee significant revenue changes until FDA authorization is obtained.