10-Q Filing

ICAD INC CIK: 749660 Q1 2014

Filing Information

Form Type	10-Q
Accession Number	`0001193125-14-199230`
Period End Date	20140331
Filing Date	20140514
Fiscal Year	2014
Fiscal Period	Q1
XBRL Instance	icad-20140331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 84 Income Statement 44 Cash Flow Statement 60

Balance Sheet 84 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts on trade accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$73.00K	USD	Point-in-time
Allowance for doubtful accounts on trade accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$63.00K	USD	Point-in-time
Property and equipment, accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$4.26M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$38.40M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$12.67M	USD	Point-in-time
Property and equipment, accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$3.82M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$13.95M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$11.88M	USD	Point-in-time
Intangible assets, accumulated amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$12.47M	USD	Point-in-time
Trade accounts receivable, net of allowance for doubtful accounts of $63 in 2014 and $73 in 2013	`AccountsReceivableNetCurrent`	$7.55M	USD	Point-in-time
Trade accounts receivable, net of allowance for doubtful accounts of $63 in 2014 and $73 in 2013	`AccountsReceivableNetCurrent`	$7.62M	USD	Point-in-time
Intangible assets, accumulated amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$12.84M	USD	Point-in-time
Inventory, net	`InventoryNet`	$1.89M	USD	Point-in-time
Inventory, net	`InventoryNet`	$1.97M	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
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$639.00K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$649.00K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$22.04M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$48.55M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Property and equipment, net of accumulated depreciation and amortization of $3,819 in 2014 and $4,265 in 2013	`PropertyPlantAndEquipmentNet`	$1.66M	USD	Point-in-time
Property and equipment, net of accumulated depreciation and amortization of $3,819 in 2014 and $4,265 in 2013	`PropertyPlantAndEquipmentNet`	$1.67M	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
Other assets	`OtherAssetsMiscellaneousNoncurrent`	$419.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	20.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	20.00M	shares	Point-in-time
Other assets	`OtherAssetsMiscellaneousNoncurrent`	$350.00K	USD	Point-in-time
Intangible assets, net of accumulated amortization of $12,841 in 2014 and $12,468 in 2013	`IntangibleAssetsNetExcludingGoodwill`	$13.67M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	13.96M	shares	Point-in-time
Intangible assets, net of accumulated amortization of $12,841 in 2014 and $12,468 in 2013	`IntangibleAssetsNetExcludingGoodwill`	$13.32M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	11.08M	shares	Point-in-time
Goodwill	`Goodwill`	$21.11M	USD	Point-in-time
Goodwill	`Goodwill`	$21.11M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	13.77M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	10.90M	shares	Point-in-time
Total assets	`Assets`	$58.92M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	185,831.00	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	185,831.00	shares	Point-in-time
Total assets	`Assets`	$84.99M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.00M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.20M	USD	Point-in-time
Accrued and other expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$3.37M	USD	Point-in-time
Accrued and other expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$3.80M	USD	Point-in-time
Interest payable	`InterestPayableCurrent`	$578.00K	USD	Point-in-time
Interest payable	`InterestPayableCurrent`	$483.00K	USD	Point-in-time
Notes and lease payable - current portion	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$3.88M	USD	Point-in-time
Notes and lease payable - current portion	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$3.88M	USD	Point-in-time
Warrant liability	`WarrantsAndRightsOutstanding`	$2.85M	USD	Point-in-time
Warrant liability	`WarrantsAndRightsOutstanding`	$3.99M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$8.40M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$8.31M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$22.45M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$20.28M	USD	Point-in-time
Deferred revenue, long-term portion	`DeferredRevenueNoncurrent`	$1.73M	USD	Point-in-time
Deferred revenue, long-term portion	`DeferredRevenueNoncurrent`	$1.51M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$1.36M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$1.15M	USD	Point-in-time
Capital lease - long-term portion	`CapitalLeaseObligationsNoncurrent`	$235.00K	USD	Point-in-time
Capital lease - long-term portion	`CapitalLeaseObligationsNoncurrent`	$198.00K	USD	Point-in-time
Notes payable - long-term portion	`LongTermNotesPayable`	$11.77M	USD	Point-in-time
Notes payable - long-term portion	`LongTermNotesPayable`	$11.90M	USD	Point-in-time
Total liabilities	`Liabilities`	$35.05M	USD	Point-in-time
Total liabilities	`Liabilities`	$37.54M	USD	Point-in-time
Commitments and Contingencies (Note 6)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies (Note 6)	`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 20,000,000 shares; issued 13,958,183 in 2014 and 11,084,119 in 2013; outstanding 13,772,352 in 2014 and 10,898,288 in 2013	`CommonStockValue`	$111.00K	USD	Point-in-time
Common stock, $ .01 par value: authorized 20,000,000 shares; issued 13,958,183 in 2014 and 11,084,119 in 2013; outstanding 13,772,352 in 2014 and 10,898,288 in 2013	`CommonStockValue`	$140.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$166.74M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$195.46M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-144.05M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-144.24M	USD	Point-in-time
Treasury stock at cost, 185,831 shares in 2014 and 2013	`TreasuryStockValue`	$1.42M	USD	Point-in-time
Treasury stock at cost, 185,831 shares in 2014 and 2013	`TreasuryStockValue`	$1.42M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$49.94M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$21.38M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$84.99M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$58.92M	USD	Point-in-time

Income Statement 44 line items

Line Item	Tag	Value	Unit	Period
Products	`SalesRevenueGoodsNet`	$4.83M	USD	1 Quarter
Products	`SalesRevenueGoodsNet`	$4.21M	USD	1 Quarter
Service and supplies	`SalesRevenueServicesNet`	$3.10M	USD	1 Quarter
Service and supplies	`SalesRevenueServicesNet`	$4.31M	USD	1 Quarter
Total revenue	`SalesRevenueNet`	$7.93M	USD	1 Quarter
Total revenue	`SalesRevenueNet`	$8.52M	USD	1 Quarter
Products	`CostOfGoodsSold`	$1.20M	USD	1 Quarter
Products	`CostOfGoodsSold`	$1.16M	USD	1 Quarter
Service and supplies	`CostOfServices`	$1.15M	USD	1 Quarter
Service and supplies	`CostOfServices`	$887.00K	USD	1 Quarter
Amortization of acquired intangibles	`AmortizationOfIntangibleAssets`	$241.00K	USD	1 Quarter
Amortization of acquired intangibles	`AmortizationOfIntangibleAssets`	$233.00K	USD	1 Quarter
Total cost of revenue	`CostOfGoodsAndServicesSold`	$2.59M	USD	1 Quarter
Total cost of revenue	`CostOfGoodsAndServicesSold`	$2.28M	USD	1 Quarter
Gross profit	`GrossProfit`	$5.65M	USD	1 Quarter
Gross profit	`GrossProfit`	$5.93M	USD	1 Quarter
Engineering and product development	`ResearchAndDevelopmentExpense`	$2.03M	USD	1 Quarter
Engineering and product development	`ResearchAndDevelopmentExpense`	$1.87M	USD	1 Quarter
Marketing and sales	`SellingAndMarketingExpense`	$2.62M	USD	1 Quarter
Marketing and sales	`SellingAndMarketingExpense`	$2.44M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.75M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.67M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$6.39M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$5.98M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-460.00K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-328.00K	USD	1 Quarter
Gain from change in fair value of warrant	`FairValueAdjustmentOfWarrants`	$-1.14M	USD	1 Quarter
Gain from change in fair value of warrant	`FairValueAdjustmentOfWarrants`	$-431.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$826.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$817.00K	USD	1 Quarter
Other income	`OtherNonoperatingIncome`	$6.00K	USD	1 Quarter
Other income	`OtherNonoperatingIncome`	$4.00K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$323.00K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-389.00K	USD	1 Quarter
Loss before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-137.00K	USD	1 Quarter
Loss before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-717.00K	USD	1 Quarter
Tax expense	`IncomeTaxExpenseBenefit`	$53.00K	USD	1 Quarter
Tax expense	`IncomeTaxExpenseBenefit`	$10.00K	USD	1 Quarter
Net loss and comprehensive loss	`NetIncomeLoss`	$-727.00K	USD	1 Quarter
Net loss and comprehensive loss	`NetIncomeLoss`	$-190.00K	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.07	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	10.82M	shares	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	11.43M	shares	1 Quarter

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-727.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-190.00K	USD	1 Quarter
Depreciation	`Depreciation`	$209.00K	USD	1 Quarter
Depreciation	`Depreciation`	$183.00K	USD	1 Quarter
Amortization	`AdjustmentForAmortization`	$373.00K	USD	1 Quarter
Amortization	`AdjustmentForAmortization`	$430.00K	USD	1 Quarter
Bad debt (benefit) provision	`ProvisionForDoubtfulAccounts`	$35.00K	USD	1 Quarter
Bad debt (benefit) provision	`ProvisionForDoubtfulAccounts`	$-14.00K	USD	1 Quarter
Gain from change in fair value of warrant	`FairValueAdjustmentOfWarrants`	$-1.14M	USD	1 Quarter
Gain from change in fair value of warrant	`FairValueAdjustmentOfWarrants`	$-431.00K	USD	1 Quarter
Loss on disposal of assets	`GainLossOnDispositionOfAssets`	$-25.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$325.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$307.00K	USD	1 Quarter
Amortization of debt discount and debt costs	`AmortizationOfFinancingCosts`	$183.00K	USD	1 Quarter
Amortization of debt discount and debt costs	`AmortizationOfFinancingCosts`	$198.00K	USD	1 Quarter
Interest on settlement obligations	`AmortizationOfSettlementObligations`	$52.00K	USD	1 Quarter
Interest on settlement obligations	`AmortizationOfSettlementObligations`	$75.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-88.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$521.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$74.00K	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`	$-30.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-215.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-799.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-593.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-1.40M	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-119.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$592.00K	USD	1 Quarter
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$-442.00K	USD	1 Quarter
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$-1.48M	USD	1 Quarter
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.67M	USD	1 Quarter
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.17M	USD	1 Quarter
Additions to patents, technology and other	`PaymentsToAcquireIntangibleAssets`	$2.00K	USD	1 Quarter
Additions to patents, technology and other	`PaymentsToAcquireIntangibleAssets`	$15.00K	USD	1 Quarter
Additions to property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$97.00K	USD	1 Quarter
Additions to property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$202.00K	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-99.00K	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-217.00K	USD	1 Quarter
Issuance of common stock for cash, net	`ProceedsFromIssuanceOfCommonStock`	$28.24M	USD	1 Quarter
Stock option exercises	`ProceedsFromStockOptionsExercised`	$287.00K	USD	1 Quarter
Taxes paid related to restricted stock issuance	`TaxesPaidRelatedToRestrictedStockIssuance`	$101.00K	USD	1 Quarter
Taxes paid related to restricted stock issuance	`TaxesPaidRelatedToRestrictedStockIssuance`	$7.00K	USD	1 Quarter
Payments of capital lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$32.00K	USD	1 Quarter
Net cash provided by (used for) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$28.40M	USD	1 Quarter
Net cash provided by (used for) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-7.00K	USD	1 Quarter
Increase (decrease) in cash and equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.27M	USD	1 Quarter
Increase (decrease) in cash and equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$26.52M	USD	1 Quarter
Cash and equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$38.40M	USD	Point-in-time
Cash and equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$12.67M	USD	Point-in-time
Cash and equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$13.95M	USD	Point-in-time
Cash and equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$11.88M	USD	Point-in-time
Cash and equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$38.40M	USD	Point-in-time
Cash and equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$12.67M	USD	Point-in-time
Cash and equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$13.95M	USD	Point-in-time
Cash and equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$11.88M	USD	Point-in-time
Interest paid	`InterestPaid`	$483.00K	USD	1 Quarter
Interest paid	`InterestPaid`	$499.00K	USD	1 Quarter
Taxes paid	`IncomeTaxesPaid`	$25.00K	USD	1 Quarter
Taxes paid	`IncomeTaxesPaid`	$56.00K	USD	1 Quarter

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