ICAD Icad Inc

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001-09341		02-0377419
(Commission File Number)		(IRS Employer Identification No.)
98 Spit Brook Road, Suite 100, Nashua, New Hampshire		03062
(Address of Principal Executive Offices)		(Zip Code)

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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Title of each class		Trading symbol(s)		Name of each exchange on which registered
Common Stock, $0.01 par value		ICAD		The Nasdaq Stock Market LLC

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Item 2.02.

Results of Operations and Financial Condition

Item 9.01

Financial Statements and exhibit

99.1	Press Release of iCAD, Inc. dated August 13, 2024.
104	Cover Page Interactive Data File (embedded within the Inline XBRL document)

	iCAD, INC. (Registrant)
	By:	/s/ Dana Brown
		Dana Brown Chief Executive Officer and President

Exhibit 99.1

 

iCAD Reports Financial Results for Second Quarter Ended June 30, 2024 

 

NASHUA, N.H. –  August 13, 2024  – iCAD, Inc. (NASDAQ: ICAD) ("iCAD" or the "Company") a global leader on a mission to create a world where cancer can’t hide by providing clinically proven AI-powered breast health solutions, today reported its financial and operating results for the three and six months ended June 30, 2024. 

 

Second Quarter 2024 Highlights (Year over Year Performance):

 

●

Total ARR was $9.2 million, up 7%

●

Total revenues were $5.0 million, up 21%

●

Gross Profit Margin % was 84%, up from 81%

●

GAAP Net loss from continuing operations ($1.7) million, improvement from ($2.3 million)

 

“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 76 perpetual, 16 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.  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.” 

 

The chart below illustrates the growth of ARR (Annual Recurring Revenue) between the first quarter of 2022, when subscription sales first began, and the second quarter of 2024:

 

 

ARR Change Since Start of Subscription Sales
(in 000’s)
		Q1 22			Q2 24				$ Change
Maintenance Services ARR (M-ARR)		$	6,655		$	6,910			$	256
Subscription ARR (S-ARR)			0			2,030				2,030
Cloud ARR (C-ARR)			0			218				218
Total ARR (T-ARR)		$	6,655		$	9,159			$	2,504
% Change Since Start of Subscription Sales										38	%

 

 

Three Months Ended June 30, 2024 Financial Results

 

Total revenue for the second quarter of 2024 was $5.0 million, an increase of $0.9 million, or 21%, as compared to the second quarter of 2023.

 

(in 000’s)		Three months ended June 30,
		2024				2023				$ Change				% Change
Product revenue		$	3,254			$	2,301			$	953				41.4	%
Service and supplies revenue			1,775				1,870				(95	)			-5.1	%
Total revenue		$	5,029			$	4,171			$	858				20.6	%

 

 

Gross Profit: Gross profit for the second quarter of 2024 was $4.2 million, or 84% of revenue, as compared to $3.4 million, or 81% of revenue, in the second quarter of 2023.

 

Operating Expenses: Total operating expenses for the second quarter of 2024 were $6.2 million, a 4% increase from $5.9 million in the second quarter of 2023.

 

GAAP Net Loss from continuing operations: Net loss from continuing operations for the second quarter of 2024 was ($1.7) million, or ($0.07) per diluted share, as compared to a net loss of ($2.3) million, or ($0.09) per diluted share, for the second quarter of 2023.

 

Non-GAAP Adjusted Net Loss from continuing operations: Non-GAAP Adjusted Net Loss from continuing operations, a non-GAAP financial measure as defined below, for the second quarter of 2024 was ($1.6) million, or ($0.07) per diluted share, as compared to a Non-GAAP Adjusted Net Loss of ($2.2) million, or ($0.09) per diluted share, for the second quarter of 2023. Please refer to the section entitled “Reconciliation of Non-GAAP Financial Measures to Comparable GAAP Measures” and the accompanying financial table included at the end of this release for a reconciliation of GAAP Net Loss to Non-GAAP Adjusted Net Loss results for the three-month periods ended June 30, 2024 and 2023, respectively.

 

 

Non-GAAP Adjusted EBITDA: Non-GAAP Adjusted EBITDA, a non-GAAP financial measure as defined below, for the second quarter of 2024 was a loss of ($1.2) million compared to a loss of $(2.1) million in the second quarter of 2023. Please refer to the section entitled “Reconciliation of Non-GAAP Financial Measures to Comparable GAAP Measures” and the accompanying financial table included at the end of this release for a reconciliation of GAAP Net Loss to Non-GAAP Adjusted EBITDA results for the three-month periods ended June 30, 2024 and 2023, respectively.  

 

Six Months Ended June 30, 2024 Financial Results

 

Total revenue for the six months ended June 30, 2024 was approximately $10.0 million, an increase of approximately $1.5 million, or 17%, as compared to the six months ended June 30, 2023.

 

(in 000’s)		Six months ended June 30,
		2024				2023				$ Change				% Change
Product revenue		$	6,356			$	4,762			$	1,594				33.5	%
Service and supplies revenue			3,627				3,744				(117	)			-3.1	%
Total revenue		$	9,983			$	8,506			$	1,477				17.4	%

 

Gross Profit: Gross profit for the six months ended June 30, 2024 was $8.3 million, or 83% of revenue, as compared to $6.9 million, or 82% of revenue, in the six months ended June 30, 2023.

 

Operating Expenses: Total operating expenses for the six months ended June 30, 2024 were $11.7 million, an 8% decrease from $12.7 million in the six months ended June 30, 2023.

 

GAAP Net Loss from continuing operations: Net loss from continuing operations for the six months ended June 30, 2024 was ($2.9) million, or ($0.11) per diluted share, as compared to a net loss of ($5.5) million, or ($0.22) per diluted share, for the six months ended June 30, 2023.

 

Non-GAAP Adjusted Net Loss from continuing operations: Non-GAAP Adjusted Net Loss from continuing operations, a non-GAAP financial measure as defined below, for the six months ended June 30, 2024 was ($2.8) million, or ($0.11) per diluted share, as compared to a Non-GAAP Adjusted Net Loss of ($5.3) million, or ($0.21) per diluted share, for the six months ended June 30, 2023. Please refer to the section entitled “Reconciliation of Non-GAAP Financial Measures to Comparable GAAP Measures” and the accompanying financial table included at the end of this release for a reconciliation of GAAP Net Loss to Non-GAAP Adjusted Net Loss results for the six-month periods ended June 30, 2024 and 2023, respectively.

 

Non-GAAP Adjusted EBITDA: Non-GAAP Adjusted EBITDA, a non-GAAP financial measure as defined below, for the six months ended June 30, 2024 was a loss of ($2.3) million compared to a loss of $(4.6) million in the six months ended June 30, 2023. Please refer to the section entitled “Reconciliation of Non-GAAP Financial Measures to Comparable GAAP Measures” and the accompanying financial table included at the end of this release for a reconciliation of GAAP Net Loss to Non-GAAP Adjusted EBITDA results for the six-month periods ended June 30, 2024 and 2023, respectively.  

 

Cash and cash equivalents:  Cash and cash equivalents were $20.4 million as of June 30, 2024.  iCAD believes it has sufficient cash resources to fund its planned operations with no need to raise additional funding.

 

Conference Call:   

The company will host a conference call at 4:30 PM Eastern Time on Tuesday, August 13, 2024.  

 

Earnings call details are as follows:  

 

●

Toll Free: 888-506-0062

●

International: 973-528-0011

●

Participant Access Code: 227167

●

Webcast: https://www.webcaster4.com/Webcast/Page/2879/50989

 

 

Use of Non-GAAP Financial Measures

In its quarterly news releases, conference calls, slide presentations or webcasts, the Company may use or discuss non-GAAP financial measures as defined by SEC Regulation G. The GAAP financial measures most directly comparable to each non-GAAP financial measure used or discussed, and a reconciliation of the differences between each non-GAAP financial measure and the comparable GAAP financial measure, are included in this press release after the condensed consolidated financial statements. When analyzing the Company’s operating performance, investors should not consider these non-GAAP measures as a substitute for the comparable financial measures prepared in accordance with GAAP. The Company’s quarterly news releases containing such non-GAAP reconciliations can be found on the Investors section of the Company’s website at www.icadmed.com

 

About iCAD, Inc.

iCAD, Inc. (NASDAQ: ICAD) is a global leader on a mission to create a world where cancer can’t hide by providing clinically proven AI-powered solutions that enable medical providers to accurately and reliably detect cancer earlier and improve patient outcomes. Headquartered in Nashua, N.H., iCAD’s industry-leading ProFound Breast Health Suite provides AI-powered mammography analysis for breast cancer detection, density assessment and risk evaluation. Used by thousands of providers serving millions of patients, ProFound is available in over 50 countries. In the last five years alone, iCAD estimates reading more than 40 million mammograms worldwide, with nearly 30% being tomosynthesis.  For more information, including the latest in regulatory clearances, please visit www.icadmed.com.

 

Forward-Looking Statements

Certain statements contained in this News Release constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements about the expansion of access to the Company’s products, improvement of performance, acceleration of adoption, expected benefits of ProFound AI®, the benefits of the Company’s products, and future prospects for the Company’s technology platforms and products. Such forward-looking statements involve a number of known and unknown risks, uncertainties, and other factors that may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. Such factors include, but are not limited, to the Company’s ability to achieve business and strategic objectives, the willingness of patients to undergo mammography screening, whether mammography screening will be treated as an essential procedure, whether ProFound AI will improve reading efficiency, improve specificity and sensitivity, reduce false positives and otherwise prove to be more beneficial for patients and clinicians, the impact of supply and manufacturing constraints or difficulties on our ability to fulfill our orders, uncertainty of future sales levels, to defend itself in litigation matters, protection of patents and other proprietary rights, product market acceptance, possible technological obsolescence of products, increased competition, government regulation, changes in Medicare or other reimbursement policies, risks relating to our existing and future debt obligations, competitive factors, the effects of a decline in the economy or markets served by the Company; and other risks detailed in the Company’s filings with the Securities and Exchange Commission. The words “believe,” “demonstrate,” “intend,” “expect,” “estimate,” “will,” “continue,” “anticipate,” “likely,” “seek,” and similar expressions identify forward-looking statements. Readers are cautioned not to place undue reliance on those forward-looking statements, which speak only as of the date the statement was made. The Company is under no obligation to provide any updates to any information contained in this release. For additional disclosure regarding these and other risks faced by iCAD, please see the disclosure contained in our public filings with the Securities and Exchange Commission, available on the Investors section of our website at http://www.icadmed.com and on the SEC’s website at http://www.sec.gov.

 

CONTACTS

Media inquiries:

pr@icadmed.com

 

Investor Inquiries:

John Nesbett/Rosalyn Christian

IMS Investor Relations icad@imsinvestorrelations.com

 

 

iCAD, INC. AND SUBSIDIARIES

Condensed Consolidated Balance Sheets

(In thousands, except for share data)

(Unaudited)

 

		June 30,				December 31,
		2024				2023
Assets
Current assets:
Cash and cash equivalents		$	20,353			$	21,670
Trade accounts receivable, net of allowance for credit losses of $298 and $277 as of June 30, 2024 and December 31, 2023, respectively			5,383				6,392
Inventory, net			702				917
Prepaid expenses and other current assets			1,377				699
Total current assets		$	27,815			$	29,678
Property and equipment, net of accumulated depreciation of $1,298 and $1,045 as of June 30, 2024 and December 31, 2023, respectively			1,776				1,823
Operating lease assets			286				461
Other assets			493				849
Intangible assets, net of accumulated amortization of $8,527 and $8,488 as of June 30, 2024 and December 31, 2023, respectively			121				148
Goodwill			8,362				8,362
Deferred tax assets			86				97
Total assets		$	38,939			$	41,418
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable		$	501			$	712
Accrued and other expenses			2,521				2,448
Lease payable—current portion			220				188
Deferred revenue—current portion			3,317				3,400
Total current liabilities			6,559				6,748
Lease payable, net of current			249				273
Deferred revenue, net of current			1,164				974
Deferred tax			7				6
Total liabilities			7,979				8,001
Commitments and Contingencies
Stockholders’ equity:
Preferred stock, $0.01 par value: authorized 1,000,000 shares; none issued.			—				—
Common stock, $0.01 par value: authorized 60,000,000 shares; issued 26,540,030 as of both June 30, 2024 and December 31, 2023, respectively; outstanding 26,354,199 as of both June 30, 2024 and December 31, 2023, respectively.			265				265
Additional paid-in capital			306,754				306,250
Accumulated deficit			(274,644	)			(271,683	)
Treasury stock at cost, 185,831 shares as of both June 30, 2024 and December 31, 2023			(1,415	)			(1,415	)
Total stockholders’ equity			30,960				33,417
Total liabilities and stockholders’ equity		$	38,939			$	41,418

 

 

iCAD, INC. AND SUBSIDIARIES

Condensed Consolidated Statements of Operations

(In thousands, except for per share data)

(Unaudited)

 

		Three Months Ended								Six Months Ended
		June 30,								June 30,
		2024				2023				2024				2023
Revenue:
Products		$	3,254			$	2,301			$	6,356			$	4,762
Services			1,775				1,870				3,627				3,744
Total revenue			5,029				4,171				9,983				8,506
Cost of revenue:
Products			371				411				850				835
Services			328				339				650				684
Amortization and depreciation			113				23				153				43
Total cost of revenue			812				773				1,653				1,562
Gross profit			4,217				3,398				8,330				6,944
Operating expenses:
Engineering and product development			1,764				1,245				3,271				2,762
Marketing and sales			2,267				1,836				4,349				4,196
General and administrative			2,070				2,755				3,973				5,608
Amortization and depreciation			64				75				126				129
Total operating expenses			6,165				5,911				11,719				12,695
Loss from operations			(1,948	)			(2,513	)			(3,389	)			(5,751	)
Other income/ (expense):
Interest expense			—				(2	)			—				(2	)
Interest income			206				182				409				333
Other income (expense), net			11				(3	)			31				—
Other income (expense), net			217				177				440				331
Loss before provision for income taxes			(1,731	)			(2,336	)			(2,949	)			(5,420	)
Benefit (Provision) for tax expense			(8	)			(4	)			(12	)			(9	)
Loss from continuing operations			(1,739	)			(2,340	)			(2,961	)			(5,429	)
Income (loss) from discontinued operations			—				590				—				(99	)
Net loss and comprehensive loss		$	(1,739	)		$	(1,750	)		$	(2,961	)		$	(5,528	)
Net loss per share:
Loss from continuing operations, basic and diluted		$	(0.07	)		$	(0.09	)		$	(0.11	)		$	(0.22	)
Loss from discontinued operations, basic and diluted		$	-			$	0.02			$	-			$	-
Net loss per share, basic and diluted		$	(0.07	)		$	(0.07	)		$	(0.11	)		$	(0.22	)
Weighted average number of shares used in computing loss per share:			26,354				25,261				26,354				25,261

 

 

iCAD, INC. AND SUBSIDIARIES

 

Condensed Consolidated Statements of Cash Flows

(In thousands)

(Unaudited)

 

		For the Six Months ended
		June 30,
		2024				2023
Cash flow from operating activities:
Net loss		$	(2,961	)		$	(5,528	)
Adjustments to reconcile net loss to net cash used for operating activities:
Amortization			27				94
Depreciation			253				138
Non-cash lease expense			112				248
Impairment of operating lease asset			184				—
Bad debt provision			21				62
Stock-based compensation			504				800
Deferred tax			12				8
Changes in operating assets and liabilities:							—
Accounts receivable			988				3,089
Inventory			215				1,141
Prepaid and other assets			(322	)			352
Accounts payable			(211	)			(1,116	)
Accrued and other expenses			73				(510	)
Lease liabilities			(113	)			(263	)
Deferred revenue			107				(448	)
Total adjustments			1,850				3,595
Net cash used for operating activities			(1,111	)			(1,933	)
Cash flow from investing activities:
Additions to property and equipment			(106	)			(307	)
Capitalization of internal-use software			(100	)			(36	)
Net cash used for investing activities			(206	)			(343	)
(Decrease) increase in cash and cash equivalents			(1,317	)			(2,276	)
Cash and cash equivalents, beginning of period			21,670				21,313
Cash and cash equivalents, end of period		$	20,353			$	19,037
Supplemental disclosure of cash flow information:
Interest paid		$	—			$	—
Amendment to right-of-use assets obtained in exchange for operating lease liabilities		$	121			$	—

 

 

Reconciliation of Non-GAAP Financial Measures to Comparable GAAP Measures and Definitions of Metrics

 

The Company reports its financial results in accordance with United States generally accepted accounting principles, or GAAP. However, management believes that in order to understand the Company’s short-term and long-term financial and operational trends, investors may wish to consider the impact of certain non-cash or non-recurring items, when used as a supplement to financial performance measures in accordance with GAAP. These items result from facts and circumstances that vary in frequency and/or impact on continuing operations. Management also uses results of operations before such items to evaluate the operating performance of the Company and compare it against past periods, make operating decisions, and serve as a basis for strategic planning. These non-GAAP financial measures provide management with additional means to understand and evaluate the operating results and trends in the Company’s ongoing business by eliminating certain non-cash expenses and other items that management believes might otherwise make comparisons of the Company’s ongoing business with prior periods more difficult, obscure trends in ongoing operations or reduce management’s ability to make useful forecasts. Management believes that these non-GAAP financial measures provide additional means of evaluating period-over-period operating performance. In addition, management understands that some investors and financial analysts find this information helpful in analyzing the Company’s financial and operational performance and comparing this performance to its peers and competitors.

 

Management defines “Non-GAAP Adjusted EBITDA” as the sum of GAAP Net Loss before provisions for interest expense, other income, stock-based compensation expense, depreciation and amortization, tax expense, severance, gain on sale of assets, loss on disposal of assets, acquisition and litigation related expenses. Management considers this non-GAAP financial measure to be an indicator of the Company’s operational strength and performance of its business and a good measure of its historical operating trends, in particular the extent to which ongoing operations impact the Company’s overall financial performance.

 

The non-GAAP financial measures do not replace the presentation of the Company’s GAAP financial results and should only be used as a supplement to, not as a substitute for, the Company’s financial results presented in accordance with GAAP. The Company has provided a reconciliation of each non-GAAP financial measure used in its financial reporting and investor presentations to the most directly comparable GAAP financial measure.

 

Management excludes each of the items identified below from the applicable non-GAAP financial measure referenced above for the reasons set forth with respect to that excluded item:

 

•

Interest expense: The Company excludes interest expense which includes interest from the facility agreement, interest on capital leases and interest on the convertible debentures from its non-GAAP Adjusted EBITDA calculation.

 

•

Stock-based compensation expense: excluded as these are non-cash expenses that management does not consider part of ongoing operating results when assessing the performance of the Company’s business, and also because the total amount of expense is partially outside of the Company’s control as it is based on factors such as stock price volatility and interest rates, which may be unrelated to our performance during the period in which the expense is incurred.

 

•

Amortization and Depreciation: Purchased assets and intangibles are amortized over a period of several years and generally cannot be changed or influenced by management after they are acquired. Accordingly, these non-cash items are not considered by management in making operating decisions, and management believes that such expenses do not have a direct correlation to future business operations. Thus, including such charges does not accurately reflect the performance of the Company’s ongoing operations for the period in which such charges are incurred.

 

•

Severance and Furlough: The Company has incurred severance and furlough expenses in connection with restructuring and in connection with the separation of its former CEO.  The Company excludes these items from its non-GAAP financial measures when evaluating its continuing business performance as such items can vary significantly and do not reflect expected future operating expenses. In addition, management believes that such items do not have a direct correlation to future business operations.

 

•

Loss on fair value of convertible debentures. The Company excludes this non-cash item as it is not considered by management in making operating decisions, and management believes that such item does not have a direct correlation to future business operations.

 

•

Litigation related: These expenses consist primarily of settlement, legal and other professional fees related to litigation. The Company excludes these costs from its non-GAAP measures primarily because the Company believes that these costs have no direct correlation to the core operations of the Company.

 

•

Loss on extinguishment of debt: The Company excludes this non-cash item as it is not considered by management in making operating decisions, and management believes that such item does not have a direct correlation to future business operations.

 

•

Impairment of operating lease asset: The Company incurred a non-cash impairment charge as a result of executing a sublease for its corporate headquarters.  The Company excludes this non-cash item as it is not considered by management in making operating decisions, and management believes that it has no direct correlation to future business operations.

 

On occasion in the future, there may be other items, such as loss on extinguishment of debt, significant asset impairments, restructuring charges or significant gains or losses from contingencies that the Company may exclude if it believes that doing so is consistent with the goal of providing useful information to investors and management.

 

Definitions of Metrics

 

Starting in the third quarter of 2023, the Company began reporting Annual Recurring Revenue (“ARR”) with each quarterly earnings announcement.  The Company’s management believes this is a useful metric for purposes of assessing progress in transitioning to a subscription-based business model.  ARR should be viewed independently of revenue and does not represent our revenue under U.S. GAAP on an annualized basis, as it is an operating metric that can be impacted by contract start dates, end dates, cancellations, and renewal rates. Subscription ARR is not intended to be a replacement for forecasts of revenue.  The following are the variations of ARR the Company intends to present:

 

1.

Total ARR (T-ARR) represents the annualized value of subscription license, maintenance contracts and active cloud services at the end of a reporting period.

2.

Maintenance Services ARR (M-ARR) represents the annualized value of active perpetual license maintenance service contracts at the end of the reporting period.

3.

Subscription ARR (S-ARR) represents the annualized value of active subscription or term licenses at the end of a reporting period.

4.

Cloud ARR (C-ARR) represents the annualized value of active cloud services contracts at the end of a reporting period.

 

 

 

Non-GAAP Adjusted EBITDA

Set forth below is a reconciliation of the Company’s “Non-GAAP Adjusted EBITDA”

(Unaudited)

(In thousands except for per share data)

 

		Three Months Ended June 30,								Six Months Ended June 30,
		2024				2023				2024				2023
GAAP Net Loss from continuing operations		$	(1,739	)		$	(2,340	)		$	(2,961	)		$	(5,429	)
Interest expense			—				2				—				2
Interest income			(206	)			(182	)			(409	)			(333	)
Other expense			(11	)			3				(31	)			—
Stock compensation			239				214				504				800
Depreciation & amortization			177				98				279				172
Severance and Furlough			169				102				169				178
Tax expense			8				4				12				9
Impairment of operating lease asset			184				—				184				—
Non-GAAP Adjusted EBITDA		$	(1,179	)		$	(2,099	)		$	(2,253	)		$	(4,601	)

 

		Three Months Ended June 30,								Six Months Ended June 30,
		2024				2023				2024				2023
GAAP Net Loss from continuing operations		$	(1,739	)		$	(2,340	)		$	(2,961	)		$	(5,429	)
Adjustments to Net Loss:
Severance and Furlough			169				102				169				178
Non-GAAP Adjusted Net Loss from continuing operations		$	(1,570	)		$	(2,238	)		$	(2,792	)		$	(5,251	)
Net Loss per share from continuing operations —basic and diluted
GAAP Loss from continuing operations, basic and diluted		$	(0.07	)		$	(0.09	)		$	(0.11	)		$	(0.22	)
Adjustments to Net Loss (as detailed above)			—				0.00				—				0.01
Non-GAAP Adjusted Loss per share from continuing operations		$	(0.07	)		$	(0.09	)		$	(0.11	)		$	(0.21	)

 

 

v3.24.2.u1

Document And Entity Information	Aug. 13, 2024
Document Information [Line Items]
Entity, Registrant Name	iCAD, INC.
Document, Type	8-K
Document, Period End Date	Aug. 13, 2024
Entity, Incorporation, State or Country Code	DE
Entity, File Number	001-09341
Entity, Tax Identification Number	02-0377419
Entity, Address, Address Line One	98 Spit Brook Road, Suite 100
Entity, Address, City or Town	Nashua
Entity, Address, State or Province	NH
Entity, Address, Postal Zip Code	03062
City Area Code	603
Local Phone Number	882-5200
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Stock
Trading Symbol	ICAD
Security Exchange Name	NASDAQ
Entity, Emerging Growth Company	false
Amendment Flag	false
Entity, Central Index Key	0000749660

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