ICCM Q2 2026 Earnings Call Summary

1Key Financial Results and Metrics

Revenue: Increased approximately 45% year-over-year to $1.8 million, up from €1.25 million in H1 2025.

Gross Profit: Rose to $548,000 from $349,000 in the prior year, with gross margin improving to 30% from 28%.

Net Loss: Reported at $8.8 million or $3.17 per share, compared to a net loss of $7 million or $3.59 per share in H1 2025.

Cash Position: Ended H1 2026 with approximately $12 million in cash and cash equivalents, up from €8.9 million at the end of 2025.

2Strategic Updates and Business Highlights

ProSense Adoption: Significant growth in physician adoption and utilization of ProSense technology, with a 70% increase in the active U.S. commercial installed base.

CHOICE Study: The FDA-approved post-market study is integral to commercialization, with expectations to enroll the first patients within weeks.

International Expansion: Continued progress in international markets, particularly Japan, with strong engagement from physicians and medical societies.

Clinical Evidence: Positive results from the ICE3 kidney cancer study and inclusion of ProSense in various medical publications and guidelines.

3Forward Guidance and Outlook

Management remains optimistic about sustaining revenue growth and expanding the commercial footprint. They anticipate continued physician adoption and increased utilization of ProSense, supported by the CHOICE study.

Q3 is traditionally slower due to seasonal factors, but Q4 is expected to be stronger, aligning with historical trends.

4Bad News, Challenges, or Points of Concern

Net Loss: The increase in net loss raises concerns about the company's financial sustainability, despite revenue growth.

Gross Margin Pressures: Margins were impacted by foreign exchange fluctuations, which could affect profitability moving forward.

Regulatory Risks: The complexity of the IRB approval process for clinical sites may delay patient enrollment in the CHOICE study, which is critical for meeting FDA requirements.

5Notable Q&A Insights

Revenue Mix: Most revenue comes from new system purchases rather than leases, with a noted increase in system sales compared to previous years.

Installed Base: The active U.S. commercial installed base is above 30 sites, reflecting strong growth.

CPT Code Submission: Management is progressing with the CPT code submission but cannot disclose specifics due to compliance regulations.

IRB Approval Timelines: The IRB approval process varies, with central IRBs taking about 3-5 weeks and local IRBs taking longer.

Future Patient Enrollment: Confidence remains high in meeting FDA enrollment requirements for the CHOICE study, with plans to treat the first patients soon. Overall, ICCM is experiencing significant growth and strategic advancements, but faces challenges related to financial losses and regulatory processes.