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Icecure Medical
(NASDAQ:ICCM)
Icecure Medical (ICCM) vs. SPDR S&P 500 ETF (SPY)
Icecure Medical Business Overview & Revenue Model
Icecure Medical Earnings Call Summary
Icecure Medical Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.98M | 3.29M | 3.23M | 3.08M | 4.14M | 4.08M |
| Gross Profit | 1.04M | 1.45M | 1.30M | 1.45M | 2.19M | 2.66M |
| EBITDA | -15.10M | -15.36M | -15.25M | -16.49M | -9.60M | -4.08M |
| Net Income | -15.29M | -15.32M | -14.65M | -17.22M | -10.07M | ― |
Balance Sheet | ||||||
| Total Assets | 15.08M | 12.58M | 16.41M | 30.19M | 32.28M | 10.34M |
| Cash, Cash Equivalents and Short-Term Investments | 10.01M | 7.56M | 11.06M | 23.66M | 25.62M | 3.50M |
| Total Debt | 288.00K | 459.00K | 599.00K | 597.00K | 909.00K | 301.04K |
| Total Liabilities | 5.77M | 5.67M | 4.25M | 4.77M | 5.32M | 5.75M |
| Stockholders Equity | 9.31M | 6.90M | 12.16M | 25.42M | 26.96M | 4.58M |
Cash Flow | ||||||
| Free Cash Flow | -13.79M | -12.63M | -13.00M | -15.18M | -13.14M | -3.91M |
| Operating Cash Flow | -13.75M | -12.56M | -12.52M | -14.29M | -12.61M | -3.69M |
| Investing Cash Flow | -5.04M | 446.00K | -713.00K | -891.00K | 3.79M | -4.67M |
| Financing Cash Flow | 13.21M | 9.19M | 83.00K | 13.58M | 30.89M | 5.86M |
Icecure Medical Technical Analysis
Icecure Medical Risk Analysis
Icecure Medical Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
53 Neutral | $36.14M | -4.57 | -95.39% | ― | 145.48% | 67.36% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
46 Neutral | $49.68M | ― | -96.15% | ― | -8.97% | 47.29% | |
45 Neutral | $49.58M | -2.82 | -157.91% | ― | -18.96% | 8.98% | |
45 Neutral | $49.41M | ― | ― | ― | -15.02% | -11.06% | |
44 Neutral | $70.08M | -1.20 | -73.73% | ― | 15.59% | 4.13% | |
38 Underperform | $51.11M | -1.15 | ― | ― | 12.24% | 47.45% |
Icecure Medical Corporate Events
On November 19, 2025, IceCure Medical reported its financial and operational results for the nine months ending September 30, 2025. A significant development was the FDA’s marketing authorization in October 2025 for the ProSense® cryoablation system, targeting low-risk breast cancer in women aged 70 and above. This milestone is expected to drive demand and commercial momentum in the U.S. and globally. The company anticipates an increase in ProSense® installations and procedure volumes, with regulatory approvals expanding in markets like Switzerland. Despite a slight revenue decline, IceCure is optimistic about future growth, supported by new clinical studies and regulatory milestones.
On November 18, 2025, IceCure Medical announced that its ProSense® Cryoablation System received regulatory approval from Swissmedic for treating breast, lung, liver, and kidney cancers in Switzerland. This approval enhances IceCure’s regulatory and commercial momentum, following the recent FDA marketing authorization for low-risk breast cancer in the U.S. The Swiss healthcare market, known for its innovation and high-quality care, offers significant potential for IceCure to expand the adoption of ProSense® as a standard-of-care alternative to surgery, further solidifying its position in the global medical technology industry.
On November 14, 2025, IceCure Medical Ltd. announced it received a notification from Nasdaq regarding non-compliance with the minimum bid price requirement of $1.00 per share. The company has 180 days, until May 11, 2026, to regain compliance by maintaining a closing bid price of at least $1.00 for ten consecutive business days. The notice does not immediately affect the company’s Nasdaq listing, and IceCure is considering options to address the deficiency if necessary, to maintain its listing status.
On November 5, 2025, IceCure Medical announced the promotion of Shay Levav to Chief Operating Officer as the company prepares for increased commercial activity following the FDA’s marketing clearance of its ProSense® system for low-risk breast cancer. Mr. Levav, who has been with the company since 2020, will continue to oversee Regulatory Affairs, Quality Assurance, and Clinical Affairs. This strategic move is expected to enhance IceCure’s operational effectiveness and strengthen its market presence in the U.S., as the company anticipates growing demand for its innovative cryoablation technology.
On November 3, 2025, IceCure Medical announced the successful results of an independent study published in PLOS One, demonstrating the effectiveness of its Cryoablation System combined with stereotactic body radiation therapy (SBRT) in treating stage I non-small cell lung cancer (NSCLC) with tumors ≥2 cm. The study, which involved 64 patients, showed a 92% disease-specific 5-year survival rate and a 74% overall survival rate, significantly higher than SBRT alone. These findings suggest that IceCure’s technology could provide a minimally invasive treatment option for inoperable NSCLC patients, potentially impacting major markets like the U.S. and Europe.
On October 16, 2025, IceCure Medical Ltd. announced the termination of Ms. Galit Malik, the Vice President of Operations and Services, effective January 15, 2026. The company clarified that the termination was not due to any disagreements related to its operations, policies, or practices. This move could potentially impact the company’s operational dynamics, although no immediate implications for stakeholders were mentioned.
On October 3, 2025, IceCure Medical announced that its ProSense® cryoablation system received FDA marketing authorization for treating low-risk breast cancer in women aged 70 and above. This authorization marks a significant advancement in minimally invasive cancer treatment, offering a new option to lumpectomy with excellent cosmetic results and patient satisfaction. The FDA’s decision is expected to drive demand for the procedure, supported by existing reimbursement codes and a planned post-market study involving 400 patients across 30 sites. The study aims to gather additional data and support the commercial rollout of ProSense®, potentially setting a new standard of care for the defined indication.
On September 30, 2025, IceCure Medical announced its participation in the European Society of Breast Imaging Congress 2025, held from September 25-27 in Aberdeen, UK. The company presented positive results from five independent studies on its ProSense® cryoablation system for breast cancer treatment. The studies highlighted ProSense® as a promising non-surgical option, particularly for early-stage breast cancer, offering effective tumor control and superior cosmetic outcomes. This development underscores IceCure’s growing influence in the breast cancer treatment market and its potential to shift treatment paradigms towards less invasive options.
On September 22, 2025, IceCure Medical announced its successful participation at the CIRSE 2025 Annual Meeting, where their ProSense® cryoablation system was prominently featured. The event highlighted positive clinical results from four independent studies, demonstrating ProSense®’s efficacy in treating breast cancer and endometriosis. The presentations underscored the growing interest among interventional radiologists in using cryoablation as a viable alternative to traditional surgical methods, potentially enhancing IceCure’s industry positioning and offering significant implications for stakeholders in terms of expanding treatment options.
On September 18, 2025, IceCure Medical announced that it received a Notice of Allowance from the U.S. Patent and Trademark Office for its next-generation XSense™ Cryoprobes. This new technology, designed to improve cryoprobe extraction and reduce tissue trauma, enhances the company’s cryoablation platform, potentially lowering costs and improving patient experiences. The XSense™ system, which recently gained regulatory approval in the U.S. and Israel, positions IceCure Medical as a leader in minimally invasive tumor destruction, offering significant implications for stakeholders by expanding its market reach and enhancing its technological offerings.
On September 15, 2025, IceCure Medical announced it received regulatory approval in Israel for its next-generation XSense™ Cryoablation System, which is designed for treating breast cancer and other medical indications. This approval by Israel’s Ministry of Health reinforces IceCure’s leadership in cryoablation technology and is expected to enhance the company’s market position by offering a minimally invasive treatment option that reduces costs and accelerates recovery for patients.
On September 1, 2025, IceCure Medical Ltd. held a Special General Meeting of Shareholders where all agenda items were approved by the shareholders. This approval is significant as it aligns with the company’s strategic plans and potentially impacts its operational and market strategies, reflecting shareholder support for its ongoing initiatives.
On September 4, 2025, IceCure Medical announced promising results from an independent study on their ProSense® cryoablation technology for treating abdominal wall endometriosis (AWE). Conducted at Nîmes University Hospital, the study showed significant pain reduction and high procedural efficacy, with median pain scores dropping from 8 to 0. The study supports ProSense® as a safe, effective, and minimally invasive treatment option, enhancing its commercial potential and industry positioning.