NASDAQ : ICCM
IceCure Medical Ltd — Financial statements
Healthcare · Medical Devices · Israel
Last price 0.9567 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 4.44M
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Financial statements
IceCure Medical Ltd (ICCM) reported revenue of 3.95M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 3.95M | 3.38M | 3.29M | 3.23M | 3.08M | 4.14M |
| Cost of Revenue | 2.52M | 2.15M | 1.84M | 1.93M | 1.64M | 1.94M |
| Gross Profit | 1.43M | 1.23M | 1.45M | 1.30M | 1.45M | 2.19M |
| Selling, General & Admin | 9.81M | 8.89M | 10.05M | 8.60M | 9.06M | 6.04M |
| Research & Development | 8.34M | 7.43M | 7.10M | 8.27M | 9.12M | 5.88M |
| Operating Expenses | 18.15M | 16.32M | 17.15M | 16.88M | 18.18M | 11.92M |
| Operating Income | -16.72M | -15.09M | -15.70M | -15.58M | -16.74M | -9.72M |
| Interest Expense | -157.00K | -239.00K | -171.00K | |||
| Interest & Investment Income | 37.00K | 378.00K | 924.00K | |||
| Pretax Income | -16.88M | -15.06M | -15.32M | -14.65M | -16.98M | -9.89M |
| Net Income | -16.88M | -15.06M | -15.32M | -14.65M | -16.98M | -9.89M |
| Net Income to Common | -16.88M | -15.06M | -15.32M | -14.65M | -16.98M | -9.89M |
| Shares Outstanding (Basic) | 2.53M | 2.12M | 1.70M | 1.52M | 1.23M | 951.62K |
| Shares Outstanding (Diluted) | 2.53M | 2.12M | 1.70M | 1.52M | 1.23M | 951.62K |
| EPS (Basic) | -6.66 | -7.10 | -9.03 | -9.63 | -13.76 | -10.40 |
| EPS (Diluted) | -6.66 | -7.10 | -9.03 | -9.63 | -13.76 | -10.40 |
| Free Cash Flow | -15.94M | -14.61M | -12.63M | -13.03M | -15.18M | -13.14M |
| Free Cash Flow Per Share | -6.29 | -6.89 | -7.45 | -8.56 | -12.30 | -13.81 |
| Gross Margin | 36.10% | 36.28% | 44.09% | 40.26% | 46.84% | 53.04% |
| Operating Margin | -423.69% | -446.70% | -476.94% | -482.38% | -542.59% | -234.99% |
| Profit Margin | -427.67% | -445.61% | -465.45% | -453.76% | -550.34% | -239.12% |
| Free Cash Flow Margin | -403.88% | -432.38% | -383.89% | -403.53% | -492.16% | -317.50% |
| EBITDA | -16.44M | -14.80M | -15.36M | -15.25M | -16.49M | -9.60M |
| EBITDA Margin | -231.92% | |||||
| D&A For EBITDA | 284.00K | 295.00K | 332.00K | 323.00K | 248.00K | 127.00K |
| EBIT | -16.72M | -15.09M | -15.70M | -15.58M | -16.74M | -9.72M |
| EBIT Margin | -234.99% | |||||
| Advertising Expenses | 116.00K | 32.00K | 92.00K | 74.00K | 60.00K |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 12.03M | 8.90M | 7.56M | 10.53M | 23.66M | 25.62M |
| Short-Term Investments | 529.00K | |||||
| Cash & Short-Term Investments | 12.03M | 8.90M | 7.56M | 11.06M | 23.66M | 25.62M |
| Accounts Receivable | 413.00K | 331.00K | 221.00K | 103.00K | 78.00K | 456.00K |
| Other Receivables | 213.00K | 188.00K | 125.00K | 288.00K | 315.00K | |
| Receivables | 413.00K | 544.00K | 409.00K | 228.00K | 366.00K | 771.00K |
| Inventory | 2.54M | 2.62M | 1.99M | 2.27M | 2.86M | 1.96M |
| Prepaid Expenses | 1.65M | 244.00K | 657.00K | 512.00K | 607.00K | 1.79M |
| Other Current Assets | 295.00K | 136.00K | 107.00K | 641.00K | 180.00K | |
| Total Current Assets | 16.65M | 12.61M | 10.75M | 14.18M | 28.13M | 30.32M |
| Property, Plant & Equipment | 1.01M | 1.23M | 1.78M | 2.19M | 2.02M | 1.63M |
| Other Long-Term Assets | 54.00K | 51.00K | 46.00K | 34.00K | 34.00K | 333.00K |
| Total Assets | 17.71M | 13.89M | 12.58M | 16.41M | 30.19M | 32.28M |
| Accounts Payable | 1.63M | 863.00K | 1.23M | 502.00K | 714.00K | 881.00K |
| Accrued Expenses | 3.19M | 3.50M | 3.65M | 2.96M | 2.81M | 2.03M |
| Current Portion of Leases | 69.00K | 204.00K | 298.00K | 223.00K | 167.00K | 224.00K |
| Current Unearned Revenue | 255.00K | 334.00K | 187.00K | 646.00K | 884.00K | |
| Other Current Liabilities | 901.00K | |||||
| Total Current Liabilities | 5.79M | 4.82M | 5.51M | 3.87M | 4.34M | 4.02M |
| Long-Term Leases | 21.00K | 13.00K | 161.00K | 376.00K | 430.00K | 685.00K |
| Other Long-Term Liabilities | 618.00K | |||||
| Total Liabilities | 5.81M | 4.84M | 5.67M | 4.25M | 4.77M | 5.32M |
| Additional Paid-In Capital | 141.11M | 129.49M | 112.28M | 102.22M | 100.83M | 85.39M |
| Retained Earnings | -129.21M | -120.44M | -105.38M | -90.06M | -75.41M | -58.43M |
| Shareholders' Equity | 11.90M | 9.05M | 6.90M | 12.16M | 25.42M | 26.96M |
| Total Liabilities & Equity | 17.71M | 13.89M | 12.58M | 16.41M | 30.19M | 32.28M |
| Total Debt | 90.00K | 217.00K | 459.00K | 599.00K | 597.00K | 909.00K |
| Net Cash (Debt) | 11.94M | 8.68M | 7.11M | 10.46M | 23.06M | 24.71M |
| Net Cash Per Share | 4.71 | 4.10 | 4.19 | 6.88 | 18.69 | 25.97 |
| Filing Date Shares Outstanding | 3.43M | 2.44M | 1.89M | 1.52M | 1.52M | 1.19M |
| Total Common Shares Outstanding | 3.43M | 2.44M | 1.89M | 1.52M | 1.52M | 1.19M |
| Working Capital | 10.86M | 7.78M | 5.24M | 10.31M | 23.79M | 26.30M |
| Book Value Per Share | 3.47 | 3.71 | 3.66 | 7.98 | 16.72 | 22.60 |
| Tangible Book Value | 11.90M | 9.05M | 6.90M | 12.16M | 25.42M | 26.96M |
| Tangible Book Value Per Share | 3.47 | 3.71 | 3.66 | 7.98 | 16.72 | 22.60 |
| Machinery | 2.59M | 2.59M | 2.52M | 2.06M | 878.00K | |
| Leasehold Improvements | 212.00K | 212.00K | 209.00K | 207.00K | 133.00K |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -16.88M | -15.06M | -15.32M | -14.65M | -16.98M | -9.89M |
| Depreciation & Amortization | 284.00K | 295.00K | 332.00K | 323.00K | 248.00K | 127.00K |
| Stock-Based Compensation | 1.38M | 1.37M | 869.00K | 1.31M | 1.86M | 316.00K |
| Other Operating Activities | -102.00K | -114.00K | 39.00K | -54.00K | 359.00K | 5.00K |
| Change in Accounts Receivable | -291.00K | -110.00K | -118.00K | -25.00K | 378.00K | -362.00K |
| Change in Inventory | -216.00K | -637.00K | 287.00K | 582.00K | -902.00K | -891.00K |
| Change in Accounts Payable | 473.00K | -369.00K | 730.00K | -212.00K | -167.00K | 236.00K |
| Change in Other Net Operating Assets | -519.00K | 45.00K | 616.00K | 178.00K | 905.00K | -2.14M |
| Operating Cash Flow | -15.87M | -14.57M | -12.56M | -12.55M | -14.29M | -12.61M |
| Capital Expenditures | -69.00K | -36.00K | -71.00K | -480.00K | -891.00K | -533.00K |
| Investment in Securities | 529.00K | -500.00K | 4.62M | |||
| Other Investing Activities | -12.00K | 296.00K | -296.00K | |||
| Investing Cash Flow | -69.00K | -36.00K | 446.00K | -684.00K | -891.00K | 3.79M |
| Short-Term Debt Issued | 2.00M | |||||
| Total Debt Issued | 2.00M | |||||
| Short-Term Debt Repaid | -2.00M | |||||
| Total Debt Repaid | -2.00M | -2.00M | ||||
| Net Debt Issued (Repaid) | -2.00M | |||||
| Issuance of Common Stock | 25.61M | 16.93M | 9.67M | 83.00K | 14.51M | 27.74M |
| Other Financing Activities | -1.10M | -1.10M | -487.00K | -931.00K | 3.15M | |
| Financing Cash Flow | 22.51M | 15.83M | 9.19M | 83.00K | 13.58M | 30.89M |
| Foreign Exchange Rate Adjustments | 86.00K | 109.00K | -39.00K | 25.00K | -356.00K | 43.00K |
| Net Cash Flow | 6.65M | 1.33M | -2.97M | -13.13M | -1.96M | 22.12M |
| Free Cash Flow | -15.94M | -14.61M | -12.63M | -13.03M | -15.18M | -13.14M |
| Free Cash Flow Margin | -403.88% | -432.38% | -383.89% | -403.53% | -492.16% | -317.50% |
| Free Cash Flow Per Share | -6.29 | -6.89 | -7.45 | -8.56 | -12.30 | -13.81 |
| Levered Free Cash Flow | -9.54M | -8.92M | -7.18M | -7.75M | -8.79M | -9.26M |
| Unlevered Free Cash Flow | -9.44M | -8.92M | -7.18M | -7.75M | -8.64M | -9.15M |
| Free Cash Flow After Leases | -15.94M | -14.61M | -12.63M | -13.03M | -15.18M | -13.14M |
| Change in Working Capital | -553.00K | -1.07M | 1.51M | 523.00K | 214.00K | -3.16M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 4.04M | 42.07M | 60.26M | 48.84M | 70.72M | 109.13M |
| Enterprise Value | -7.91M | 32.36M | 50.07M | 36.24M | 57.19M | 94.76M |
| Last Close Price | 0.87 | 18.30 | 30.87 | 30.03 | 43.50 | 85.59 |
| PS Ratio | 1.02 | 12.45 | 18.31 | 15.12 | 22.92 | 26.37 |
| PB Ratio | 0.25 | 4.65 | 8.73 | 4.01 | 2.78 | 4.05 |
| P/TBV Ratio | 0.34 | 4.65 | 8.73 | 4.01 | 2.78 | 4.05 |
| EV/Sales Ratio | 9.58 | 15.21 | 11.22 | 18.54 | 22.90 | |
| Debt / Equity Ratio | 0.01 | 0.02 | 0.07 | 0.05 | 0.02 | 0.03 |
| Net Debt / Equity Ratio | -1.00 | -0.96 | -1.03 | -0.86 | -0.91 | -0.92 |
| Net Debt / EBITDA Ratio | 0.73 | 0.59 | 0.46 | 0.69 | 1.40 | 2.58 |
| Net Debt / FCF Ratio | 0.75 | 0.59 | 0.56 | 0.80 | 1.52 | 1.88 |
| Asset Turnover | 0.28 | 0.26 | 0.23 | 0.14 | 0.10 | 0.20 |
| Inventory Turnover | 1.03 | 0.93 | 0.86 | 0.75 | 0.68 | 1.29 |
| Quick Ratio | 2.15 | 1.96 | 1.45 | 2.92 | 5.54 | 6.57 |
| Current Ratio | 2.88 | 2.61 | 1.95 | 3.66 | 6.49 | 7.54 |
| Return on Equity (ROE) | -228.31% | -188.78% | -160.70% | -77.97% | -64.83% | -60.69% |
| Return on Assets (ROA) | -73.88% | -71.30% | -67.69% | -41.78% | -33.50% | -28.59% |
| Return on Capital Employed (ROCE) | -140.30% | -166.50% | -222.30% | -124.20% | -64.70% | -34.40% |
| Earnings Yield | -765.34% | -35.79% | -25.42% | -30.00% | -24.01% | -9.07% |
| FCF Yield | -394.98% | -34.72% | -20.97% | -26.68% | -21.47% | -12.04% |
| Buyback Yield / Dilution | -35.73% | -24.97% | -11.48% | -23.29% | -29.66% | -66.67% |