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ICCM

IceCure Medical Ltd

ICCM

IceCure Medical Ltd • NASDAQ
$0.72 ▲ 3.48% (+0.02)
Market Cap $49.78 M
52w High $1.66
52w Low $0.59
Dividend Yield 0%
P/E -2.89
Volume 170.15K
Outstanding Shares 68.96M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $850K ▲ $18.197M ▲ $-3.859M ▼ -454% ▲ $-0.059 ▼ $-3.763M ▼
Q2-2025 $525K ▼ $3.516M ▼ $-3.364M ▲ -640.762% ▼ $-0.057 ▲ $-3.323M ▲
Q1-2025 $725K ▼ $3.875M ▼ $-3.588M ▲ -494.897% ▲ $-0.062 ▲ $-3.568M ▲
Q4-2024 $875K ▲ $4.942M ▲ $-4.479M ▼ -511.886% ▲ $-0.081 ▼ $-4.443M ▼
Q3-2024 $662K $4.528M $-4.149M -626.737% $-0.079 $-4.21M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $10.005M ▲ $15.078M ▲ $5.772M ▼ $9.306M ▲
Q2-2025 $5.383M ▼ $10.589M ▼ $7.698M ▲ $2.891M ▼
Q1-2025 $6.04M ▼ $11.104M ▼ $5.104M ▼ $6M ▼
Q4-2024 $7.564M ▼ $12.576M ▼ $5.675M ▲ $6.901M ▼
Q3-2024 $10.671M $15.278M $5.218M $10.06M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-3.859M ▼ $-2.705M ▲ $-5.003M ▼ $7.467M ▲ $-412K ▲ $-2.708M ▲
Q2-2025 $-3.364M ▲ $-2.811M ▲ $-23K ▼ $2.085M ▼ $-657K ▲ $-2.833M ▲
Q1-2025 $-3.588M ▲ $-4.039M ▲ $-5K ▲ $2.562M ▲ $-1.524M ▲ $-4.045M ▲
Q4-2024 $-4.479M ▼ $-4.195M ▼ $-7K ▼ $1.101M ▼ $-3.107M ▼ $-4.2M ▼
Q3-2024 $-4.149M $-3.153M $805K $3.359M $1.019M $-3.185M

Five-Year Company Overview

Income Statement

Income Statement Income Statement: IceCure is still very much in the development and early commercialization phase. The company has essentially no meaningful revenue in the reported period, while research, clinical, and operating costs create recurring losses each year. The losses are not exploding but they are steady and persistent, which means the business is still in “investment mode,” not yet in “profit mode.” Earnings per share have been negative throughout, which is typical for a young med‑tech company but highlights a clear dependence on future growth in sales to turn the income statement around.

Balance Sheet

Balance Sheet Balance Sheet: The balance sheet looks small and relatively simple. Most of IceCure’s resources are in cash and other basic assets, with no financial debt on the books, which reduces financing risk. At the same time, total assets and shareholders’ equity have trended down, reflecting the ongoing use of cash to fund operations without offsetting revenue growth. This combination — cash‑heavy but gradually shrinking equity and no debt — is consistent with an early‑stage company that is living off prior capital raises while it works toward commercial traction.

Cash Flow

Cash Flow Cash Flow: Cash flow from operations has been consistently negative, showing that the core business is consuming cash rather than generating it. Free cash flow is also negative, meaning the company depends on external funding (past or future) to sustain its activities. Capital spending appears very light, so the main cash outflow is day‑to‑day operations, clinical work, and commercialization efforts rather than large factory or equipment builds. The key question for the future is whether and when product sales can begin to offset this ongoing cash burn.

Competitive Edge

Competitive Edge Competitive Position: IceCure is trying to build a strong niche in minimally invasive cancer treatment, especially for certain early‑stage breast cancers. Its liquid‑nitrogen cryoablation system is designed to destroy tumors without major surgery, with quick recovery and good cosmetic results. A major strength is the regulatory progress, including U.S. FDA marketing authorization for specific breast cancer cases and supportive clinical data from a large breast cancer trial. The company also benefits from patents and a focused specialization, which together create barriers for would‑be competitors. However, it still competes in a broader oncology market dominated by large device and pharma players, and long‑term success will depend on physician adoption, reimbursement, and real‑world outcomes.

Innovation and R&D

Innovation and R&D Innovation & R&D: Innovation is clearly IceCure’s core asset. The ProSense system uses extreme cold to create large, controlled freeze zones that can kill tumors while sparing surrounding tissue, and it is designed for use in outpatient or office settings. Beyond the current system, the company is developing next‑generation probes (XSense and MSense) meant to handle different tumor sizes and multiple lesions, with one of these already cleared by the FDA. IceCure is also investing in clinical research to expand beyond breast cancer into lung, liver, kidney, and other solid tumors, and it is seeking regulatory and commercial footholds outside the U.S. This steady pipeline of product and indication expansion is a key long‑term strength, though it comes with ongoing cost and regulatory risk.

Summary

Summary: IceCure Medical is an early‑stage medical device company with a promising, minimally invasive approach to tumor treatment and a growing body of supportive clinical and regulatory milestones. Financially, it remains pre‑revenue with recurring losses, negative cash flow, and a gradually shrinking but debt‑free balance sheet, all typical of a med‑tech business still in the build‑out phase. Strategically, its competitive edge rests on differentiated cryoablation technology, strong clinical data in select breast cancer patients, and a road map to broader cancer indications and new geographies. The main opportunities lie in successful commercialization, wider physician adoption, and positive reimbursement decisions; the main risks lie in execution, market acceptance, ongoing funding needs, and the challenges of competing in a complex global oncology market.

NEWS

November 19, 2025 · 8:54 AM UTC

IceCure Reports Financial & Operational Results for the Nine Months Ended September 30, 2025

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November 18, 2025 · 8:30 AM UTC

IceCure's ProSense® Cryoablation System Receives Regulatory Approval in Switzerland for Indications Including Breast, Lung, Liver, and Kidney Cancer

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November 14, 2025 · 4:30 PM UTC

IceCure Medical Announces Receipt of Nasdaq Minimum Bid Price Notification

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November 12, 2025 · 8:30 AM UTC

IceCure Medical to Report Third Quarter 2025 Financial and Operating Results on November 19, 2025

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November 10, 2025 · 8:30 AM UTC

IceCure Promotes Shay Levav to Chief Operating Officer as Company Ramps up for Increased Commercial Traction

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