iCAD reports Q2 EPS (7c), consensus (7c)

Reports Q2 revenue $5.03M, consensus $4.42M..”The second quarter of 2024 was highlighted by strong revenue growth of 21%, which demonstrates the success of our strategic direction as we continue to drive consistent performance,” said Dana Brown, President and CEO of iCAD, Inc. “In line with Phase 3 of our transformation plan, this quarter we continued to maximize revenue from our sizeable install base, upgrading customers to new versions including the transition to Cloud, and accelerated deployment across large, national accounts. In the second quarter, we closed 60 perpetual, 29 subscription, and 10 cloud deals with both new and established customers. We believe our efforts to reduce expenses and grow sales are yielding results.””This was our first full quarter offering our ProFound Cloud SaaS platform, and the offering has been received better than expected by both existing and new customers. We believe this solution not only empowers customers but should also create a more predictable and robust economic model for the business over time as it grows as a percentage of revenue.”