10-Q Filing

ICAD INC CIK: 749660 Q2 2012

Filing Information

Form Type	10-Q
Accession Number	`0001193125-12-344341`
Period End Date	20120630
Filing Date	20120808
Fiscal Year	2012
Fiscal Period	Q2
XBRL Instance	icad-20120630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 77 Income Statement 78 Cash Flow Statement 62

Balance Sheet 77 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`	$50.00K	USD	Point-in-time
Property and equipment, accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$3.61M	USD	Point-in-time
Property and equipment, accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$3.18M	USD	Point-in-time
Intangible assets, accumulated amortization	`IntangibleAssetsNetOfAccumulatedAmortization`	$9.89M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.68M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$14.26M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.58M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$16.27M	USD	Point-in-time
Intangible assets, accumulated amortization	`IntangibleAssetsNetOfAccumulatedAmortization`	$8.84M	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
Trade accounts receivable, net of allowance for doubtful accounts of $50 in 2012 and $54 in 2011	`AccountsReceivableNetCurrent`	$4.00M	USD	Point-in-time
Trade accounts receivable, net of allowance for doubtful accounts of $50 in 2012 and $54 in 2011	`AccountsReceivableNetCurrent`	$3.33M	USD	Point-in-time
Inventory, net	`InventoryNet`	$2.04M	USD	Point-in-time
Inventory, net	`InventoryNet`	$1.96M	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`	$862.00K	USD	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
Total current assets	`AssetsCurrent`	$11.11M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Total current assets	`AssetsCurrent`	$20.42M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, share authorized	`CommonStockSharesAuthorized`	85.00M	shares	Point-in-time
Property and equipment, net of accumulated depreciation and amortization of $3,612 in 2012 and $3,184 in 2011	`PropertyPlantAndEquipmentNet`	$1.88M	USD	Point-in-time
Common stock, share authorized	`CommonStockSharesAuthorized`	85.00M	shares	Point-in-time
Property and equipment, net of accumulated depreciation and amortization of $3,612 in 2012 and $3,184 in 2011	`PropertyPlantAndEquipmentNet`	$1.63M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$815.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$595.00K	USD	Point-in-time
Common stock, share issued	`CommonStockSharesIssued`	54.75M	shares	Point-in-time
Common stock, share issued	`CommonStockSharesIssued`	54.90M	shares	Point-in-time
Intangible assets, net of accumulated amortization of $9,886 in 2012 and $8,840 in 2011	`IntangibleAssetsNetExcludingGoodwill`	$16.02M	USD	Point-in-time
Common stock, share outstanding	`CommonStockSharesOutstanding`	53.83M	shares	Point-in-time
Intangible assets, net of accumulated amortization of $9,886 in 2012 and $8,840 in 2011	`IntangibleAssetsNetExcludingGoodwill`	$17.06M	USD	Point-in-time
Common stock, share outstanding	`CommonStockSharesOutstanding`	53.97M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	929,155.00	shares	Point-in-time
Goodwill	`Goodwill`	$21.11M	USD	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`	$59.99M	USD	Point-in-time
Total assets	`Assets`	$51.76M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.39M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.12M	USD	Point-in-time
Accrued and other expenses	`AccruedAndOtherExpenses`	$3.64M	USD	Point-in-time
Accrued and other expenses	`AccruedAndOtherExpenses`	$5.59M	USD	Point-in-time
Interest payable	`InterestPayableCurrent`	$468.00K	USD	Point-in-time
Warrant liability	`WarrantPayable`	$613.00K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$5.76M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$5.69M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$12.48M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$11.80M	USD	Point-in-time
Deferred revenue, long-term portion	`DeferredRevenueNoncurrent`	$1.45M	USD	Point-in-time
Deferred revenue, long-term portion	`DeferredRevenueNoncurrent`	$1.30M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$1.78M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$1.18M	USD	Point-in-time
Notes payable	`LongTermNotesPayable`	$14.42M	USD	Point-in-time
Total liabilities	`Liabilities`	$15.71M	USD	Point-in-time
Total liabilities	`Liabilities`	$28.71M	USD	Point-in-time
Commitments and Contingencies (see Note 5)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies (see Note 5)	`CommitmentsAndContingencies`	-	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 54,900,725 in 2012 and 54,754,510 in 2011; outstanding 53,971,570 in 2012 and 53,825,355 in 2011	`CommonStockValue`	$549.00K	USD	Point-in-time
Common stock, $ .01 par value: authorized 85,000,000 shares; issued 54,900,725 in 2012 and 54,754,510 in 2011; outstanding 53,971,570 in 2012 and 53,825,355 in 2011	`CommonStockValue`	$547.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$164.00M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$164.43M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-132.28M	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`	$31.28M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$36.05M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$51.76M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$59.99M	USD	Point-in-time

Income Statement 78 line items

Line Item	Tag	Value	Unit	Period
Products	`SalesRevenueGoodsNet`	$3.58M	USD	1 Quarter
Products	`SalesRevenueGoodsNet`	$9.71M	USD	2 Qtrs
Products	`SalesRevenueGoodsNet`	$4.49M	USD	1 Quarter
Products	`SalesRevenueGoodsNet`	$7.65M	USD	2 Qtrs
Service and supplies	`SalesRevenueServicesNet`	$4.28M	USD	2 Qtrs
Service and supplies	`SalesRevenueServicesNet`	$2.36M	USD	1 Quarter
Service and supplies	`SalesRevenueServicesNet`	$4.62M	USD	2 Qtrs
Service and supplies	`SalesRevenueServicesNet`	$2.15M	USD	1 Quarter
Total revenue	`SalesRevenueNet`	$13.99M	USD	2 Qtrs
Total revenue	`SalesRevenueNet`	$5.93M	USD	1 Quarter
Total revenue	`SalesRevenueNet`	$6.65M	USD	1 Quarter
Total revenue	`SalesRevenueNet`	$12.27M	USD	2 Qtrs
Products	`CostOfGoodsSold`	$969.00K	USD	1 Quarter
Products	`CostOfGoodsSold`	$1.14M	USD	1 Quarter
Products	`CostOfGoodsSold`	$2.35M	USD	2 Qtrs
Products	`CostOfGoodsSold`	$2.08M	USD	2 Qtrs
Service and supplies	`CostOfServices`	$560.00K	USD	1 Quarter
Service and supplies	`CostOfServices`	$1.14M	USD	2 Qtrs
Service and supplies	`CostOfServices`	$1.54M	USD	2 Qtrs
Service and supplies	`CostOfServices`	$769.00K	USD	1 Quarter
Amortization of acquired intangibles	`AmortizationOfIntangibleAssets`	$233.00K	USD	1 Quarter
Amortization of acquired intangibles	`AmortizationOfIntangibleAssets`	$466.00K	USD	2 Qtrs
Amortization of acquired intangibles	`AmortizationOfIntangibleAssets`	$233.00K	USD	1 Quarter
Amortization of acquired intangibles	`AmortizationOfIntangibleAssets`	$465.00K	USD	2 Qtrs
Total cost of revenue	`CostOfGoodsAndServicesSold`	$3.68M	USD	2 Qtrs
Total cost of revenue	`CostOfGoodsAndServicesSold`	$4.35M	USD	2 Qtrs
Total cost of revenue	`CostOfGoodsAndServicesSold`	$2.14M	USD	1 Quarter
Total cost of revenue	`CostOfGoodsAndServicesSold`	$1.76M	USD	1 Quarter
Gross profit	`GrossProfit`	$9.64M	USD	2 Qtrs
Gross profit	`GrossProfit`	$4.17M	USD	1 Quarter
Gross profit	`GrossProfit`	$4.50M	USD	1 Quarter
Gross profit	`GrossProfit`	$8.60M	USD	2 Qtrs
Engineering and product development	`ResearchAndDevelopmentExpense`	$3.30M	USD	1 Quarter
Engineering and product development	`ResearchAndDevelopmentExpense`	$6.08M	USD	2 Qtrs
Engineering and product development	`ResearchAndDevelopmentExpense`	$4.19M	USD	2 Qtrs
Engineering and product development	`ResearchAndDevelopmentExpense`	$1.98M	USD	1 Quarter
Marketing and sales	`SellingAndMarketingExpense`	$7.67M	USD	2 Qtrs
Marketing and sales	`SellingAndMarketingExpense`	$2.49M	USD	1 Quarter
Marketing and sales	`SellingAndMarketingExpense`	$5.13M	USD	2 Qtrs
Marketing and sales	`SellingAndMarketingExpense`	$3.94M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$6.22M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$3.24M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$3.41M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.62M	USD	1 Quarter
Contingent consideration	`ContingentConsiderationOperatingExpenses`	$-1.10M	USD	1 Quarter
Contingent consideration	`ContingentConsiderationOperatingExpenses`	$-1.10M	USD	2 Qtrs
Loss on indemnification asset	`GainLossOnIndemnificationAsset`	$-250.00K	USD	1 Quarter
Loss on indemnification asset	`GainLossOnIndemnificationAsset`	$-293.00K	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$9.81M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$6.08M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$19.16M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$12.56M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-3.96M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-1.91M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-9.53M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-5.31M	USD	1 Quarter
Gain (loss) from change in fair value of warrant	`GainOnWarrant`	$386.00K	USD	2 Qtrs
Gain (loss) from change in fair value of warrant	`GainOnWarrant`	$-213.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$831.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$111.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$216.00K	USD	2 Qtrs
Interest expense	`InterestExpense`	$1.67M	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$18.00K	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$34.00K	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$7.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$13.00K	USD	1 Quarter
Net loss and comprehensive loss	`NetIncomeLoss`	$-5.21M	USD	2 Qtrs
Net loss and comprehensive loss	`NetIncomeLoss`	$-5.41M	USD	1 Quarter
Net loss and comprehensive loss	`NetIncomeLoss`	$-2.94M	USD	1 Quarter
Net loss and comprehensive loss	`NetIncomeLoss`	$-9.72M	USD	2 Qtrs
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.18	USD	2 Qtrs
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.05	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.10	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.10	USD	2 Qtrs
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	54.55M	shares	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	53.97M	shares	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	54.46M	shares	2 Qtrs
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	53.92M	shares	2 Qtrs

Cash Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-5.21M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-5.41M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.94M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-9.72M	USD	2 Qtrs
Depreciation	`Depreciation`	$546.00K	USD	2 Qtrs
Depreciation	`Depreciation`	$466.00K	USD	2 Qtrs
Amortization	`AdjustmentForAmortization`	$1.05M	USD	2 Qtrs
Amortization	`AdjustmentForAmortization`	$1.05M	USD	2 Qtrs
Gain from change in fair value of warrant	`GainOnWarrant`	$386.00K	USD	2 Qtrs
Gain from change in fair value of warrant	`GainOnWarrant`	$-213.00K	USD	1 Quarter
Loss on disposal of assets	`GainLossOnDispositionOfAssets`	$-67.00K	USD	2 Qtrs
Loss on disposal of assets	`GainLossOnDispositionOfAssets`	$-64.00K	USD	2 Qtrs
Loss on indemnification asset	`LossOnIndemnificationAsset`	$250.00M	USD	1 Quarter
Loss on indemnification asset	`LossOnIndemnificationAsset`	$293.00K	USD	2 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$584.00K	USD	2 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$448.00K	USD	2 Qtrs
Amortization of discount financing	`AmortizationOfFinancingCosts`	$42.00K	USD	1 Quarter
Amortization of discount financing	`AmortizationOfFinancingCosts`	$456.00K	USD	2 Qtrs
Interest on settlement obligations	`FinancingInterestExpense`	$215.00K	USD	2 Qtrs
Interest on settlement obligations	`FinancingInterestExpense`	$216.00K	USD	2 Qtrs
Fair value of contingent consideration	`FairValueOfContingentConsideration`	$1.10M	USD	2 Qtrs
Fair value of contingent consideration	`FairValueOfContingentConsideration`	$4.90M	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-669.00K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$638.00K	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$-1.11M	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$-80.00K	USD	2 Qtrs
Prepaid and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-43.00K	USD	2 Qtrs
Prepaid and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$6.00K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$268.00K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-145.00K	USD	2 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-2.29M	USD	2 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-148.00K	USD	2 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-223.00K	USD	2 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$774.00K	USD	2 Qtrs
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$2.60M	USD	2 Qtrs
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$859.00K	USD	2 Qtrs
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-4.35M	USD	2 Qtrs
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-7.13M	USD	2 Qtrs
Additions to patents, technology and other	`PaymentsToAcquireIntangibleAssets`	$3.00K	USD	2 Qtrs
Additions to property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$191.00K	USD	2 Qtrs
Additions to property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$275.00K	USD	2 Qtrs
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-278.00K	USD	2 Qtrs
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-191.00K	USD	2 Qtrs
Taxes paid related to restricted stock issuance	`TaxesPaidRelatedToRestrictedStockIssuance`	$5.00K	USD	2 Qtrs
Taxes paid related to restricted stock issuance	`TaxesPaidRelatedToRestrictedStockIssuance`	$13.00K	USD	2 Qtrs
Payment for Xoft	`PaymentToAcquireSubsidiary`	$1.27M	USD	2 Qtrs
Proceeds from debt financing, net	`ProceedsFromIssuanceOfLongTermDebt`	$14.32M	USD	2 Qtrs
Net cash provided by (used for) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.27M	USD	2 Qtrs
Net cash provided by (used for) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$14.31M	USD	2 Qtrs
Increase (decrease) in cash and equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-8.59M	USD	2 Qtrs
Increase (decrease) in cash and equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$9.69M	USD	2 Qtrs
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$7.68M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$14.26M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$4.58M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$16.27M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$7.68M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$14.26M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$4.58M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$16.27M	USD	Point-in-time
Interest paid	`InterestPaid`	$485.00K	USD	2 Qtrs
Taxes paid	`IncomeTaxesPaid`	$52.00K	USD	2 Qtrs
Taxes paid	`IncomeTaxesPaid`	$17.00K	USD	2 Qtrs

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