IceCure Medical (NASDAQ:ICCM) Posts Quarterly Earnings Results, Misses Estimates By $1.59 EPS

IceCure Medical (NASDAQ:ICCM) announced its quarterly earnings results on Wednesday. The company reported ($3.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.52) by ($1.59), Zacks reports. The business had revenue of $0.91 million for the quarter, compared to analyst estimates of $1.45 million. IceCure Medical had a negative return on equity of 211.73% and a negative net margin of 441.60%.

Here are the key takeaways from IceCure Medical’s conference call:

• First-half revenue rose approximately 45% year over year to $1.8 million, driven by higher ProSense system sales and disposable probe utilization. Gross margin improved to 30% from 28%, although foreign-exchange movements limited the benefit.
• The active U.S. commercial install base grew approximately 70% following FDA clearance for early-stage, low-risk breast cancer, reaching more than 30 sites. Management said system purchases increased 20%–25% year over year, with fewer placements as a percentage of activity.
• The FDA-approved ChoICE post-market study is progressing, with two sites fully approved and more than 10 additional sites in process; the company expects first-patient enrollment within three to four weeks and remains confident of enrolling 80 patients by March 2027.
• IceCure ended the first half with approximately $12 million in cash after raising about $8.5 million in gross proceeds during the second quarter, providing funding for commercial, clinical, regulatory, and reimbursement initiatives. However, first-half R&D and sales and marketing expenses increased, and the net loss widened to ILS 8.8 million from ILS 7 million.
• Management said it is advancing its planned CPT Category I reimbursement submission but cannot confirm its status under AMA confidentiality rules; breast-cancer cryoablation is reportedly listed on an upcoming AMA meeting agenda. Japan commercialization efforts are also continuing, though the regulatory process remains lengthy.

IceCure Medical Stock Down 5.8%

Shares of ICCM traded down $0.18 during midday trading on Thursday, reaching $2.93. 41,462 shares of the stock were exchanged, compared to its average volume of 1,352,330. The company has a market cap of $10.05 million, a price-to-earnings ratio of -0.41 and a beta of 0.47. IceCure Medical has a 12-month low of $2.12 and a 12-month high of $42.00. The firm has a 50 day simple moving average of $4.00 and a 200-day simple moving average of $9.95.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ICCM. Maxim Group dropped their price target on IceCure Medical from $90.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday, May 14th. Weiss Ratings restated a “sell (e+)” rating on shares of IceCure Medical in a research report on Friday, July 17th. Alliance Global Partners began coverage on shares of IceCure Medical in a research report on Monday, May 4th. They set a “buy” rating on the stock. Finally, Wall Street Zen raised shares of IceCure Medical to a “sell” rating in a research note on Sunday, July 12th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $52.50.

Hedge Funds Weigh In On IceCure Medical

An institutional investor recently bought a new position in IceCure Medical stock. Virtu Financial LLC purchased a new position in shares of IceCure Medical Ltd. (NASDAQ:ICCM) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 64,524 shares of the company’s stock, valued at approximately $39,000. Virtu Financial LLC owned about 0.09% of IceCure Medical as of its most recent SEC filing. Hedge funds and other institutional investors own 0.62% of the company’s stock.

IceCure Medical Company Profile

IceCure Medical Ltd. (NASDAQ: ICCM) is a clinical-stage medical device company specializing in the development and commercialization of proprietary cryoablation systems for the treatment of tumors and other pathological tissues. The company’s core technology employs a unique liquid-nitrogen-based platform to deliver rapid cooling through fine-gauge cryoprobes, enabling precise and minimally invasive tissue ablation under imaging guidance. IceCure’s lead product, ProSense, is designed to offer a single-probe approach that can be deployed in an outpatient setting, reducing procedure time and patient recovery periods.

Originally founded in Israel, IceCure Medical obtained its first CE mark for the treatment of benign breast tumors and fibroadenomas in 2017.