Half Year 2025 Icecure Medical Ltd Earnings Call Transcript
Key Points
- Icecure Medical Ltd (ICCM) is optimistic about receiving FDA marketing authorization for its breast cancer treatment by the end of 2025.
- The company has seen increased adoption of its ProSense technology in Europe, particularly for breast cancer cryoablation.
- Icecure Medical Ltd (ICCM) successfully closed a $10 million rights offering, which was significantly oversubscribed, indicating strong shareholder confidence.
- The company has a strong financial position with $5.38 million in cash equivalents and short-term deposits, excluding the recent rights offering proceeds.
- Icecure Medical Ltd (ICCM) is preparing for commercialization in North America with an experienced VP of sales and plans to expand its team upon FDA clearance.
- Revenue for the first half of 2025 decreased to $1.25 million from $1.75 million in the same period in 2024.
- Gross profit and margin have declined, with a gross margin of 28% compared to 46% in the first half of 2024.
- The company experienced delays in product shipments due to the Israeli conflict, impacting Q2 revenue.
- Net loss for the first half of 2025 increased to $6.95 million compared to $6.69 million in the same period last year.
- Icecure Medical Ltd (ICCM) faces uncertainties regarding the final budget and costs associated with the FDA-required post-market study.
(Operator Instructions)
I would now like to hand over the call to Michael Polyviou. Please go ahead.
Thank you, Janni, and welcome to Icecure Medical's conference call to review the financial results as of and for the six months ended June 30, 2025 and provide an update on recent operational highlights.
You may refer to the earnings press release that we issued earlier this morning.
Participating on today's call are Icecure Medical CEO, Eyal Shamir and the company's CFO and COO Ronen Tsimerman.
Before we begin, I'll not take a moment to read a statement about statements. This call in the question and answer session that follows it contains photo statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and other federal securities laws.
Words such as expects, anticipates, intents, plans, beliefs, seeks, estimates, and similar expressions or variations of such words are intended to identify the
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