Q1 2026 Icecure Medical Ltd Earnings Call Transcript
Key Points
- Icecure Medical Ltd (ICCM) reported a 26% year-over-year revenue growth for the first quarter of 2026, with North American sales increasing by 84%.
- The company experienced a 31% sales growth in the U.S., driven by increased system sales and growing utilization of disposable props.
- FDA clearance for low-risk early breast cancer has accelerated commercial momentum, leading to a 46% increase in active accounts.
- There is growing global interest in ProSense, particularly in Europe, Asia, and the Americas, following FDA clearance.
- The CHOICE post-market study, which received FDA approval, is expected to accelerate adoption and generate additional clinical data to support reimbursement efforts.
- The company faces risks and uncertainties beyond its control, as highlighted in the Risk Factors section of its annual report.
- There is a dependency on FDA clearance and reimbursement codes, with the CPT-1 code submission expected in June and potential reimbursement not anticipated until early 2028.
- The expansion of the U.S. commercial team and sales footprint is necessary to address growing demand, indicating current limitations in sales capacity.
- The post-market study sites are still in the contracting phase, with a goal to complete 80 patients by March 2027, which may pose timeline challenges.
- The company is not providing specific guidance on sales placements, indicating potential variability in quarterly performance.
Good morning, and thank you for standing by. Currently, all of the participants are in listen-only mode. After management discussion, there will be a question-and-answer session.
Please be advised that today's conference call is being recorded. I would now like to turn the conference over to Michael Poliview. Please go ahead.
Thank you, operator, and welcome to IceCure Medical's conference call to review the financial results. As of and for the three months ended March 31, 2026, 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 ICE Tier Medical's CEO, Eyal Shamir, the company's VP in Sales North America, Shad Goode, and our guest, Dr. Richard Vine, a key opinion leader in the treatment of breast cancer, a breast surgeon, and ICE-3 investigator who has published and presented ICE-3 data and is active in hands-on trainings and symposia for cryoablation and the
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