iCAD Second Quarter 2024 Earnings: Beats Expectations

iCAD (NASDAQ:ICAD) Second Quarter 2024 Results

Key Financial Results

• Revenue: US$5.03m (up 21% from 2Q 2023).
• Net loss: US$1.74m (loss narrowed by 26% from 2Q 2023).
• US$0.066 loss per share (improved from US$0.093 loss in 2Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

iCAD Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 14%. Earnings per share (EPS) also surpassed analyst estimates by 10%.

Looking ahead, revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Healthcare Services industry in the US.

Performance of the American Healthcare Services industry.

The company's shares are up 32% from a week ago.

Risk Analysis

It's still necessary to consider the ever-present spectre of investment risk. We've identified 3 warning signs with iCAD, and understanding these should be part of your investment process.

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