IceCure Medical Ltd. ICCM
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No price or market cap here: this company files no 10-K, so the only share count SEC publishes for it counts its ordinary shares in its home market, while its US listing is a depositary receipt standing for some number of them. That number is in no filing, so a price multiplied by that count is not this company's value and is not shown. The financial statements below are as filed.
Valuation FY2025 figures against the last close
P/S—
P/E—
P/FCF—
EV/EBITDA—
Dividend yield—
Diluted EPS0.24
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $3.4M | $3.3M | $3.2M | $3.1M | $4.1M | $3.9M | $1.6M | — |
| Cost of revenue | $2.2M | $1.8M | $1.9M | $1.6M | $1.9M | $1.4M | $1.1M | — |
| Gross profit | $1.2M | $1.5M | $1.3M | $1.4M | $2.2M | $2.4M | $524.0K | — |
| R&D | $7.4M | $7.1M | $8.3M | $9.1M | $5.9M | $3.8M | $3.0M | — |
| SG&A | $4.5M | $3.8M | $4.2M | $5.9M | $4.1M | $120.0K | $1.3M | — |
| Operating income | -$15.1M | -$15.7M | -$15.6M | -$16.7M | -$9.7M | -$4.1M | -$4.8M | — |
| Net income | -$15.1M | -$15.3M | -$14.7M | -$17.0M | -$9.9M | -$3.7M | -$4.6M | — |
| EPS, basic | 0.24 | 0.30 | 0.32 | 0.46 | 0.35 | 0.22 | 0.33 | — |
| EPS, diluted | 0.24 | 0.30 | 0.32 | 0.46 | 0.35 | 0.22 | 0.33 | — |
| Shares, diluted (wtd. avg.) | 63.6M | 50.9M | 45.6M | 37.0M | 28.5M | 17.1M | 13.6M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $8.9M | $7.6M | $10.5M | $23.7M | $25.6M | $3.5M | $5.8M | $4.2M |
| Short-term investments | — | — | $529.0K | — | — | — | — | — |
| Receivables | $331.0K | $221.0K | $103.0K | $78.0K | $456.0K | $94.0K | — | — |
| Inventory | $2.6M | $2.0M | $2.3M | $2.9M | $2.0M | $1.1M | — | — |
| Total current assets | $12.6M | $10.8M | $14.2M | $28.1M | $30.3M | $9.6M | — | — |
| Property, plant and equipment | $993.0K | $1.3M | $1.5M | $1.4M | $713.0K | $307.0K | — | — |
| Total assets | $13.9M | $12.6M | $16.4M | $30.2M | $32.3M | $10.2M | — | — |
| Accounts payable | — | — | $502.0K | $714.0K | $881.0K | $645.0K | — | — |
| Total current liabilities | $4.8M | $5.5M | $3.9M | $4.3M | $4.0M | $3.7M | — | — |
| Long-term debt | $13.0K | $161.0K | — | — | — | — | — | — |
| Retained earnings | -$120.4M | -$105.4M | -$90.1M | -$75.4M | -$58.4M | -$48.5M | — | — |
| Total equity | $9.1M | $6.9M | $12.2M | $25.4M | $27.0M | $5.6M | $3.3M | $4.2M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$14.6M | -$12.6M | -$12.6M | -$14.3M | -$12.6M | -$3.7M | -$2.0M | — |
| Depreciation and amortisation | $295.0K | $332.0K | $323.0K | $248.0K | $127.0K | $63.0K | $32.0K | — |
| Stock-based compensation | $1.4M | $869.0K | $1.3M | $1.9M | $316.0K | $229.0K | $372.0K | — |
| Capital expenditure | $36.0K | $71.0K | $480.0K | $891.0K | $533.0K | $223.0K | $103.0K | — |
| Investing cash flow | -$36.0K | $446.0K | -$684.0K | -$891.0K | $3.8M | -$4.7M | -$103.0K | — |
| Financing cash flow | $15.8M | $9.2M | $83.0K | $13.6M | $30.9M | $5.9M | $3.3M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001213900-26-028684.
Plot the figures US dollars
Income statement
Revenue
Cost of revenue
Gross profit
R&D
SG&A
Total operating expenses
Operating income
Interest expense
Pre-tax income
Income tax
Net income
EPS, basic
EPS, diluted
Shares, diluted (wtd. avg.)
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | — | $1.6M | $3.9M | $4.1M | $3.1M | $3.2M | $3.3M | $3.4M |
| Gross profit | — | $524.0K | $2.4M | $2.2M | $1.4M | $1.3M | $1.5M | $1.2M |
| Net income | — | -$4.6M | -$3.7M | -$9.9M | -$17.0M | -$14.7M | -$15.3M | -$15.1M |
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