Earnings Call Summary | ICAD Inc(ICAD.US) Q4 2023 Earnings Conference
Earnings Call Summary | ICAD Inc(ICAD.US) Q4 2023 Earnings Conference
The following is a summary of the ICAD, Inc. (ICAD) Q4 2023 Earnings Call Transcript:
以下是ICAD公司（ICAD）2023年第四季度财报电话会议记录摘要：
Financial Performance:
财务业绩：
iCAD reported annual revenue of $17.3 million in 2023, a decrease of 13% compared to 2022, due to a shift in revenue model and a reduction in salesforce.
Q4 2023 revenue was $4.7 million, a 2% increase from Q4 2022; gross profit margin for Q4 2023 was 91%, an increase from 84% in Q4 2022.
Total operating expenses decreased by 22% YoY, with non-GAAP adjusted EBITDA loss reducing to $0.4 million in Q4 2023.
iCAD improved its cash balance by 61% YoY due to cost savings initiatives and converting to subscription-based model.
The company ensured they have sufficient resources to fund current operations with no need to raise additional funding.
iCad报告称，由于收入模式的转变和销售队伍的减少，2023年的年收入为1730万美元，与2022年相比下降了13％。
2023年第四季度收入为470万美元，较2022年第四季度增长2％；2023年第四季度的毛利率为91％，高于2022年第四季度的84％。
总运营支出同比下降22％，非公认会计准则调整后的息税折旧摊销前利润亏损在2023年第四季度减少至40万美元。
由于成本节约计划和向订阅模式的转换，iCad的现金余额同比增长了61％。
该公司确保他们有足够的资源为当前的业务提供资金，无需筹集额外资金。
Business Progress:
业务进展：
iCAD is transitioning to a subscription-based model, offsetting a decline in product revenue by a small increase in service revenue.
The company reported 36% growth in annual recurring revenue following the introduction of the new model.
The leadership team expanded with new executive appointments to drive business growth.
iCAD's operational updates included forming partnerships with industry leaders, submitting solutions for FDA review, and planning to introduce ProFound AIs to new markets.
ICAD closed 80 perpetual and 9 subscription orders in Q4 2023, while also aiming to deepen business with existing accounts, expand sales channels, and increase its geographic reach.
ProFound 4.0 and Breast arterial calcification solution are under FDA review and are expected to be cleared for market later this year.
Demand for iCAD's technology remains strong, and the company is focusing on long-term strategies that will contribute to shareholder value.
iCad正在向基于订阅的模式过渡，服务收入的小幅增长抵消了产品收入的下降。
该公司报告称，在推出新模式后，年度经常性收入增长了36％。
领导团队扩大了规模，任命了新的高管，以推动业务增长。
iCad的运营更新包括与行业领导者建立合作伙伴关系，提交解决方案供美国食品药品管理局审查，以及计划向新市场引入ProFound AI。
ICAD在2023年第四季度完成了80份永久订阅订单和9份订阅订单，同时还旨在深化与现有客户的业务，扩大销售渠道并扩大其地域覆盖范围。
InForend 4.0和乳腺动脉钙化解决方案正在接受美国食品药品管理局的审查，预计将于今年晚些时候批准上市。
对iCad技术的需求仍然强劲，该公司将重点放在有助于提高股东价值的长期战略上。
More details: iCAD Inc IR
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