10-Q Filing

ICAD INC CIK: 749660 Q1 2013

Filing Information

Form Type	10-Q
Accession Number	`0001193125-13-210585`
Period End Date	20130331
Filing Date	20130509
Fiscal Year	2013
Fiscal Period	Q1
XBRL Instance	icad-20130331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 80 Income Statement 44 Cash Flow Statement 54

Balance Sheet 80 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts on trade accounts receivables	`AllowanceForDoubtfulAccountsReceivableCurrent`	$48.00K	USD	Point-in-time
Allowance for doubtful accounts on trade accounts receivables	`AllowanceForDoubtfulAccountsReceivableCurrent`	$82.00K	USD	Point-in-time
Property and equipment, net of accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$3.63M	USD	Point-in-time
Property and equipment, net of accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$3.80M	USD	Point-in-time
Intangible assets, accumulated amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$10.74M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$13.95M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$12.67M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.58M	USD	Point-in-time
Intangible assets, accumulated amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$11.17M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$14.96M	USD	Point-in-time
Trade accounts receivable, net of allowance for doubtful accounts of $82 in 2013 and $48 in 2012	`AccountsReceivableNetCurrent`	$4.98M	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 $82 in 2013 and $48 in 2012	`AccountsReceivableNetCurrent`	$5.47M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Inventory, net	`InventoryNet`	$2.12M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Inventory, net	`InventoryNet`	$1.77M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$486.00K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$558.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$20.47M	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`	$21.53M	USD	Point-in-time
Property and equipment, net of accumulated depreciation and amortization of $3,796 in 2013 and $3,627 in 2012	`PropertyPlantAndEquipmentNet`	$1.48M	USD	Point-in-time
Property and equipment, net of accumulated depreciation and amortization of $3,796 in 2013 and $3,627 in 2012	`PropertyPlantAndEquipmentNet`	$1.37M	USD	Point-in-time
Common stock, share authorized	`CommonStockSharesAuthorized`	85.00M	shares	Point-in-time
Common stock, share authorized	`CommonStockSharesAuthorized`	85.00M	shares	Point-in-time
Common stock, share issued	`CommonStockSharesIssued`	10.99M	shares	Point-in-time
Other assets	`OtherAssetsMiscellaneousNoncurrent`	$585.00K	USD	Point-in-time
Other assets	`OtherAssetsMiscellaneousNoncurrent`	$638.00K	USD	Point-in-time
Common stock, share issued	`CommonStockSharesIssued`	11.02M	shares	Point-in-time
Common stock, share outstanding	`CommonStockSharesOutstanding`	10.81M	shares	Point-in-time
Common stock, share outstanding	`CommonStockSharesOutstanding`	10.84M	shares	Point-in-time
Intangible assets, net of accumulated amortization of $11,174 in 2013 and $10,744 in 2012	`IntangibleAssetsNetExcludingGoodwill`	$14.80M	USD	Point-in-time
Intangible assets, net of accumulated amortization of $11,174 in 2013 and $10,744 in 2012	`IntangibleAssetsNetExcludingGoodwill`	$15.23M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	185,831.00	shares	Point-in-time
Goodwill	`Goodwill`	$21.11M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	185,831.00	shares	Point-in-time
Goodwill	`Goodwill`	$21.11M	USD	Point-in-time
Total assets	`Assets`	$59.99M	USD	Point-in-time
Total assets	`Assets`	$58.34M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.94M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.72M	USD	Point-in-time
Accrued and other expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$4.14M	USD	Point-in-time
Accrued and other expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$2.93M	USD	Point-in-time
Interest payable	`InterestPayableCurrent`	$499.00K	USD	Point-in-time
Interest payable	`InterestPayableCurrent`	$553.00K	USD	Point-in-time
Warrant liability	`WarrantsAndRightsOutstanding`	$1.54M	USD	Point-in-time
Warrant liability	`WarrantsAndRightsOutstanding`	$1.11M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$6.52M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$6.97M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$14.64M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$13.29M	USD	Point-in-time
Deferred revenue, long-term portion	`DeferredRevenueNoncurrent`	$1.50M	USD	Point-in-time
Deferred revenue, long-term portion	`DeferredRevenueNoncurrent`	$1.64M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$1.17M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$1.34M	USD	Point-in-time
Notes payable	`LongTermNotesPayable`	$15.00M	USD	Point-in-time
Notes payable	`LongTermNotesPayable`	$14.85M	USD	Point-in-time
Total liabilities	`Liabilities`	$31.10M	USD	Point-in-time
Total liabilities	`Liabilities`	$32.33M	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 11,021,908 in 2013 and 10,993,933 in 2012; outstanding 10,836,077 in 2013 and 10,808,102 in 2012	`CommonStockValue`	$110.00K	USD	Point-in-time
Common stock, $ .01 par value: authorized 85,000,000 shares; issued 11,021,908 in 2013 and 10,993,933 in 2012; outstanding 10,836,077 in 2013 and 10,808,102 in 2012	`CommonStockValue`	$110.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$165.42M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$165.72M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-136.45M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-137.17M	USD	Point-in-time
Treasury stock at cost 185,831 in 2013 and 2012	`TreasuryStockValue`	$1.42M	USD	Point-in-time
Treasury stock at cost 185,831 in 2013 and 2012	`TreasuryStockValue`	$1.42M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$27.66M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$27.24M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$59.99M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$58.34M	USD	Point-in-time

Income Statement 44 line items

Line Item	Tag	Value	Unit	Period
Products	`SalesRevenueGoodsNet`	$5.06M	USD	1 Quarter
Products	`SalesRevenueGoodsNet`	$4.05M	USD	1 Quarter
Service and supplies	`SalesRevenueServicesNet`	$2.87M	USD	1 Quarter
Service and supplies	`SalesRevenueServicesNet`	$2.29M	USD	1 Quarter
Total revenue	`SalesRevenueNet`	$7.93M	USD	1 Quarter
Total revenue	`SalesRevenueNet`	$6.34M	USD	1 Quarter
Products	`CostOfGoodsSold`	$1.11M	USD	1 Quarter
Products	`CostOfGoodsSold`	$1.35M	USD	1 Quarter
Service and supplies	`CostOfServices`	$694.00K	USD	1 Quarter
Service and supplies	`CostOfServices`	$577.00K	USD	1 Quarter
Amortization of acquired intangibles	`AmortizationOfIntangibleAssets`	$232.00K	USD	1 Quarter
Amortization of acquired intangibles	`AmortizationOfIntangibleAssets`	$233.00K	USD	1 Quarter
Total cost of revenue	`CostOfGoodsAndServicesSold`	$1.92M	USD	1 Quarter
Total cost of revenue	`CostOfGoodsAndServicesSold`	$2.28M	USD	1 Quarter
Gross profit	`GrossProfit`	$5.65M	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`	$1.87M	USD	1 Quarter
Marketing and sales	`SellingAndMarketingExpense`	$2.44M	USD	1 Quarter
Marketing and sales	`SellingAndMarketingExpense`	$2.65M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.59M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.67M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$5.98M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$6.45M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-2.03M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-328.00K	USD	1 Quarter
Gain from change in fair value of warrant	`GainOnWarrant`	$599.00K	USD	1 Quarter
Gain from change in fair value of warrant	`GainOnWarrant`	$431.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$835.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$826.00K	USD	1 Quarter
Other income	`OtherNonoperatingIncome`	$6.00K	USD	1 Quarter
Other income	`OtherNonoperatingIncome`	$9.00K	USD	1 Quarter
Other (expense) income, net	`OtherNonoperatingIncomeExpense`	$-389.00K	USD	1 Quarter
Other (expense) income, net	`OtherNonoperatingIncomeExpense`	$-227.00K	USD	1 Quarter
Loss before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-2.25M	USD	1 Quarter
Loss before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-717.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$11.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$10.00K	USD	1 Quarter
Net loss and comprehensive loss	`NetIncomeLoss`	$-2.26M	USD	1 Quarter
Net loss and comprehensive loss	`NetIncomeLoss`	$-727.00K	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.21	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.07	USD	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	10,776.00	shares	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	10,820.00	shares	1 Quarter

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-2.26M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-727.00K	USD	1 Quarter
Depreciation	`Depreciation`	$183.00K	USD	1 Quarter
Depreciation	`Depreciation`	$241.00K	USD	1 Quarter
Amortization	`AdjustmentForAmortization`	$430.00K	USD	1 Quarter
Amortization	`AdjustmentForAmortization`	$523.00K	USD	1 Quarter
Bad debt provision	`ProvisionForDoubtfulAccounts`	$35.00K	USD	1 Quarter
Gain from change in fair value of warrant	`GainOnWarrant`	$599.00K	USD	1 Quarter
Gain from change in fair value of warrant	`GainOnWarrant`	$431.00K	USD	1 Quarter
Loss on disposal of assets	`GainLossOnDispositionOfAssets`	$-51.00K	USD	1 Quarter
Loss on disposal of assets	`GainLossOnDispositionOfAssets`	$-25.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$307.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$215.00K	USD	1 Quarter
Amortization of debt discount and debt costs	`AmortizationOfFinancingCosts`	$198.00K	USD	1 Quarter
Amortization of debt discount and debt costs	`AmortizationOfFinancingCosts`	$227.00K	USD	1 Quarter
Interest on settlement obligations	`AmortizationOfSettlementObligations`	$75.00K	USD	1 Quarter
Interest on settlement obligations	`AmortizationOfSettlementObligations`	$112.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$521.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$437.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-254.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-346.00K	USD	1 Quarter
Prepaid and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$63.00K	USD	1 Quarter
Prepaid and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$104.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-215.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$55.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-1.91M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-1.40M	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$592.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-258.00K	USD	1 Quarter
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$-1.63M	USD	1 Quarter
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$-442.00K	USD	1 Quarter
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.89M	USD	1 Quarter
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.17M	USD	1 Quarter
Additions to patents, technology and other	`PaymentsToAcquireIntangibleAssets`	$3.00K	USD	1 Quarter
Additions to patents, technology and other	`PaymentsToAcquireIntangibleAssets`	$2.00K	USD	1 Quarter
Additions to property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$97.00K	USD	1 Quarter
Additions to property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$31.00K	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-99.00K	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-34.00K	USD	1 Quarter
Taxes paid related to restricted stock issuance	`TaxesPaidRelatedToRestrictedStockIssuance`	$7.00K	USD	1 Quarter
Taxes paid related to restricted stock issuance	`TaxesPaidRelatedToRestrictedStockIssuance`	$9.00K	USD	1 Quarter
Proceeds from debt financing, net	`ProceedsFromIssuanceOfLongTermDebt`	$14.32M	USD	1 Quarter
Net cash (used for) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-7.00K	USD	1 Quarter
Net cash (used for) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$14.32M	USD	1 Quarter
Increase (decrease) in cash and equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$10.39M	USD	1 Quarter
Increase (decrease) in cash and equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.27M	USD	1 Quarter
Cash and equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$13.95M	USD	Point-in-time
Cash and equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$12.67M	USD	Point-in-time
Cash and equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$4.58M	USD	Point-in-time
Cash and equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$14.96M	USD	Point-in-time
Cash and equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$13.95M	USD	Point-in-time
Cash and equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$12.67M	USD	Point-in-time
Cash and equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$4.58M	USD	Point-in-time
Cash and equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$14.96M	USD	Point-in-time

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