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

IceCure Medical (NASDAQ:ICCM) announced its quarterly earnings results on Wednesday. The company reported ($3.11) earnings per share for the quarter, missing the consensus estimate of ($1.52) by ($1.59), Zacks reports. The firm had revenue of $0.91 million for the quarter, compared to analysts’ expectations of $1.45 million. IceCure Medical had a negative net margin of 427.67% and a negative return on equity of 188.60%.

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 Up 1.7%

NASDAQ:ICCM traded up $0.05 during trading hours on Friday, hitting $3.05. 11,832 shares of the stock traded hands, compared to its average volume of 1,344,031. IceCure Medical has a 1 year low of $2.12 and a 1 year high of $42.00. The stock has a 50 day moving average price of $3.95 and a 200 day moving average price of $9.83. The company has a market cap of $10.46 million, a price-to-earnings ratio of -0.36 and a beta of 0.47.

Wall Street Analyst Weigh In

ICCM has been the topic of several research analyst reports. Maxim Group reduced their target price 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 reiterated a “sell (e+)” rating on shares of IceCure Medical in a research note on Friday, July 17th. Wall Street Zen upgraded shares of IceCure Medical to a “sell” rating in a report on Sunday, July 12th. Finally, Alliance Global Partners began coverage on IceCure Medical in a research report on Monday, May 4th. They issued a “buy” rating for the company. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $52.50.

Institutional Investors Weigh In On IceCure Medical

An institutional investor recently bought a new stake in IceCure Medical stock. Jane Street Group LLC acquired a new stake in shares of IceCure Medical Ltd. (NASDAQ:ICCM) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 109,638 shares of the company’s stock, valued at approximately $67,000. Jane Street Group LLC owned about 0.16% 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.