10-Q Filing

ICAD INC CIK: 749660 Q1 2012

Filing Information

Form Type	10-Q
Accession Number	`0001193125-12-233332`
Period End Date	20120331
Filing Date	20120515
Fiscal Year	2012
Fiscal Period	Q1
XBRL Instance	icad-20120331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 78 Income Statement 38 Cash Flow Statement 57

Balance Sheet 78 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts on trade accounts receivables	`AllowanceForDoubtfulAccountsReceivableCurrent`	$54.00K	USD	Point-in-time
Allowance for doubtful accounts on trade accounts receivables	`AllowanceForDoubtfulAccountsReceivableCurrent`	$54.00K	USD	Point-in-time
Property and equipment, net of accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$3.18M	USD	Point-in-time
Property and equipment, net of accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$3.38M	USD	Point-in-time
Intangible assets, net of accumulated amortization	`IntangibleAssetsNetOfAccumulatedAmortization`	$9.36M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$14.96M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$11.31M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.58M	USD	Point-in-time
Intangible assets, net of accumulated amortization	`IntangibleAssetsNetOfAccumulatedAmortization`	$8.84M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$16.27M	USD	Point-in-time
Trade accounts receivable, net of allowance for doubtful accounts of $54 in 2012 and 2011	`AccountsReceivableNetCurrent`	$4.00M	USD	Point-in-time
Trade accounts receivable, net of allowance for doubtful accounts of $54 in 2012 and 2011	`AccountsReceivableNetCurrent`	$4.44M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Inventory, net	`InventoryNet`	$2.04M	USD	Point-in-time
Inventory, net	`InventoryNet`	$1.79M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpensesAndOtherCurrentAssets`	$490.00K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpensesAndOtherCurrentAssets`	$964.00K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Total current assets	`AssetsCurrent`	$22.16M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$11.11M	USD	Point-in-time
Property and equipment, net of accumulated depreciation and amortization of $3,383 in 2012 and $3,184 in 2011	`PropertyPlantAndEquipmentNet`	$1.88M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	85.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	85.00M	shares	Point-in-time
Property and equipment, net of accumulated depreciation and amortization of $3,383 in 2012 and $3,184 in 2011	`PropertyPlantAndEquipmentNet`	$1.62M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$861.00K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	54.75M	shares	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$595.00K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	54.87M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	53.94M	shares	Point-in-time
Intangible assets, net of accumulated amortization of $9,363 in 2012 and $8,840 in 2011	`IntangibleAssetsNetExcludingGoodwill`	$17.06M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	53.83M	shares	Point-in-time
Intangible assets, net of accumulated amortization of $9,363 in 2012 and $8,840 in 2011	`IntangibleAssetsNetExcludingGoodwill`	$16.54M	USD	Point-in-time
Goodwill	`Goodwill`	$21.11M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	929,155.00	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	929,155.00	shares	Point-in-time
Goodwill	`Goodwill`	$21.11M	USD	Point-in-time
Total assets	`Assets`	$62.29M	USD	Point-in-time
Total assets	`Assets`	$51.76M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.18M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.12M	USD	Point-in-time
Accrued and other expenses	`AccruedLiabilitiesCurrent`	$3.50M	USD	Point-in-time
Accrued and other expenses	`AccruedLiabilitiesCurrent`	$5.59M	USD	Point-in-time
Interest payable	`InterestPayableCurrent`	-	USD	Point-in-time
Interest payable	`InterestPayableCurrent`	$496.00K	USD	Point-in-time
Warrant liability	`WarrantPayable`	-	USD	Point-in-time
Warrant liability	`WarrantPayable`	$400.00K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$5.59M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$5.76M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$11.16M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$12.48M	USD	Point-in-time
Deferred revenue, long-term portion	`DeferredRevenueNoncurrent`	$1.45M	USD	Point-in-time
Deferred revenue, long-term portion	`DeferredRevenueNoncurrent`	$1.36M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$1.58M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$1.78M	USD	Point-in-time
Notes payable	`LongTermNotesPayable`	$14.19M	USD	Point-in-time
Notes payable	`LongTermNotesPayable`	-	USD	Point-in-time
Total liabilities	`Liabilities`	$15.71M	USD	Point-in-time
Total liabilities	`Liabilities`	$28.29M	USD	Point-in-time
Preferred stock, $ .01 par value: authorized 1,000,000 shares; none issued	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $ .01 par value: authorized 1,000,000 shares; none issued	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $ .01 par value: authorized 85,000,000 shares; issued 54,873,186 in 2012 and 54,754,510 in 2011;outstanding 53,944,031 in 2012 and 53,825,355 in 2011	`CommonStockValue`	$547.00K	USD	Point-in-time
Common stock, $ .01 par value: authorized 85,000,000 shares; issued 54,873,186 in 2012 and 54,754,510 in 2011;outstanding 53,944,031 in 2012 and 53,825,355 in 2011	`CommonStockValue`	$549.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$164.00M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$164.20M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-129.34M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-127.07M	USD	Point-in-time
Treasury stock at cost 929,155 in 2012 and 2011	`TreasuryStockValue`	$1.42M	USD	Point-in-time
Treasury stock at cost 929,155 in 2012 and 2011	`TreasuryStockValue`	$1.42M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$36.05M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$34.00M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$51.76M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$62.29M	USD	Point-in-time

Income Statement 38 line items

Line Item	Tag	Value	Unit	Period
Products	`SalesRevenueGoodsNet`	$5.21M	USD	1 Quarter
Products	`SalesRevenueGoodsNet`	$4.08M	USD	1 Quarter
Service and supplies	`SalesRevenueServicesNet`	$2.13M	USD	1 Quarter
Service and supplies	`SalesRevenueServicesNet`	$2.26M	USD	1 Quarter
Total revenue	`SalesRevenueNet`	$6.34M	USD	1 Quarter
Total revenue	`SalesRevenueNet`	$7.34M	USD	1 Quarter
Products	`CostOfGoodsSold`	$1.21M	USD	1 Quarter
Products	`CostOfGoodsSold`	$1.11M	USD	1 Quarter
Service and supplies	`CostOfServices`	$577.00K	USD	1 Quarter
Service and supplies	`CostOfServices`	$772.00K	USD	1 Quarter
Amortization of acquired intangibles	`AmortizationOfIntangibleAssets`	$233.00K	USD	1 Quarter
Amortization of acquired intangibles	`AmortizationOfIntangibleAssets`	$232.00K	USD	1 Quarter
Total cost of revenue	`CostOfGoodsAndServicesSold`	$1.92M	USD	1 Quarter
Total cost of revenue	`CostOfGoodsAndServicesSold`	$2.21M	USD	1 Quarter
Gross profit	`GrossProfit`	$5.13M	USD	1 Quarter
Gross profit	`GrossProfit`	$4.43M	USD	1 Quarter
Engineering and product development	`ResearchAndDevelopmentExpense`	$2.21M	USD	1 Quarter
Engineering and product development	`ResearchAndDevelopmentExpense`	$2.78M	USD	1 Quarter
Marketing and sales	`SellingAndMarketingExpense`	$3.73M	USD	1 Quarter
Marketing and sales	`SellingAndMarketingExpense`	$2.65M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.62M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$2.80M	USD	1 Quarter
Loss on indemnification asset	`GainLossOnIndemnificationAsset`	$-43.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$6.48M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$9.35M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-4.22M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-2.05M	USD	1 Quarter
Gain from change in fair value of warrant	`GainOnWarrant`	$599.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$105.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$835.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$11.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$21.00K	USD	1 Quarter
Net loss and comprehensive loss	`NetIncomeLoss`	$-4.31M	USD	1 Quarter
Net loss and comprehensive loss	`NetIncomeLoss`	$-2.26M	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.08	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.04	USD	1 Quarter
Basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasicAndDiluted`	54.37M	shares	1 Quarter
Basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasicAndDiluted`	53.88M	shares	1 Quarter

Cash Flow Statement 57 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-4.31M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.26M	USD	1 Quarter
Depreciation	`Depreciation`	$295.00K	USD	1 Quarter
Depreciation	`Depreciation`	$241.00K	USD	1 Quarter
Amortization	`AdjustmentForAmortization`	$524.00K	USD	1 Quarter
Amortization	`AdjustmentForAmortization`	$523.00K	USD	1 Quarter
Gain from change in fair value of warrant	`GainOnWarrant`	$599.00K	USD	1 Quarter
Loss on disposal of assets	`GainLossOnDispositionOfAssets`	$-6.00K	USD	1 Quarter
Loss on disposal of assets	`GainLossOnDispositionOfAssets`	$-51.00K	USD	1 Quarter
Loss on indemnification asset	`LossOnIndemnificationAsset`	$43.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$268.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$215.00K	USD	1 Quarter
Amortization of discount financing	`AmortizationOfFinancingCosts`	$227.00K	USD	1 Quarter
Interest on settlement obligations	`FinancingInterestExpense`	$104.00K	USD	1 Quarter
Interest on settlement obligations	`FinancingInterestExpense`	$112.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$437.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$686.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-415.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-254.00K	USD	1 Quarter
Prepaid and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$104.00K	USD	1 Quarter
Prepaid and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$99.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$55.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$55.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-822.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-1.91M	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-258.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$523.00K	USD	1 Quarter
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$-1.63M	USD	1 Quarter
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$626.00K	USD	1 Quarter
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.69M	USD	1 Quarter
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.89M	USD	1 Quarter
Additions to patents, technology and other	`PaymentsToAcquireIntangibleAssets`	$3.00K	USD	1 Quarter
Additions to patents, technology and other	`PaymentsToAcquireIntangibleAssets`	$-46.00K	USD	1 Quarter
Additions to property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$31.00K	USD	1 Quarter
Additions to property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$82.00K	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-36.00K	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-34.00K	USD	1 Quarter
Taxes paid related to restricted stock issuance	`TaxesPaidRelatedToRestrictedStockIssuance`	$26.00K	USD	1 Quarter
Taxes paid related to restricted stock issuance	`TaxesPaidRelatedToRestrictedStockIssuance`	$9.00K	USD	1 Quarter
Payment for Xoft	`PaymentToAcquireSubsidiary`	$1.21M	USD	1 Quarter
Proceeds from debt financing, net	`ProceedsFromIssuanceOfLongTermDebt`	$14.32M	USD	1 Quarter
Net cash (used for) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.24M	USD	1 Quarter
Net cash (used for) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$14.32M	USD	1 Quarter
Increase (decrease) in cash and equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-4.96M	USD	1 Quarter
Increase (decrease) in cash and equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$10.39M	USD	1 Quarter
Cash and equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$14.96M	USD	Point-in-time
Cash and equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$11.31M	USD	Point-in-time
Cash and equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$4.58M	USD	Point-in-time
Cash and equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$16.27M	USD	Point-in-time
Cash and equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$14.96M	USD	Point-in-time
Cash and equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$11.31M	USD	Point-in-time
Cash and equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$4.58M	USD	Point-in-time
Cash and equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$16.27M	USD	Point-in-time
Interest paid	`InterestPaidNet`	-	USD	1 Quarter
Interest paid	`InterestPaidNet`	-	USD	1 Quarter
Taxes paid	`IncomeTaxesPaid`	$17.00K	USD	1 Quarter
Taxes paid	`IncomeTaxesPaid`	$52.00K	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.