10-Q Filing

ICAD INC CIK: 749660 Q1 2016

Filing Information

Form Type	10-Q
Accession Number	`0001193125-16-585828`
Period End Date	20160331
Filing Date	20160510
Fiscal Year	2016
Fiscal Period	Q1
XBRL Instance	icad-20160331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 79 Income Statement 49 Cash Flow Statement 65

Balance Sheet 79 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts on trade accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$295.00K	USD	Point-in-time
Allowance for doubtful accounts on trade accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$236.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$15.28M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$12.87M	USD	Point-in-time
Property and equipment, accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$5.47M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$32.22M	USD	Point-in-time
Property and equipment, accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$5.81M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$20.27M	USD	Point-in-time
Intangible assets, accumulated amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$10.90M	USD	Point-in-time
Trade accounts receivable, net of allowance for doubtful accounts of $295 in 2016 and $236 in 2015	`AccountsReceivableNetCurrent`	$7.49M	USD	Point-in-time
Trade accounts receivable, net of allowance for doubtful accounts of $295 in 2016 and $236 in 2015	`AccountsReceivableNetCurrent`	$5.76M	USD	Point-in-time
Intangible assets, accumulated amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$11.13M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Inventory, net	`InventoryNet`	$4.32M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Inventory, net	`InventoryNet`	$4.55M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$715.00K	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
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$684.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$27.77M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$23.89M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Property and equipment, net of accumulated depreciation of $5,814 in 2016 and $5,475 in 2015	`PropertyPlantAndEquipmentNet`	$2.31M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Property and equipment, net of accumulated depreciation of $5,814 in 2016 and $5,475 in 2015	`PropertyPlantAndEquipmentNet`	$2.16M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Other assets	`OtherAssetsMiscellaneousNoncurrent`	$94.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	30.00M	shares	Point-in-time
Other assets	`OtherAssetsMiscellaneousNoncurrent`	$94.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	30.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	16.08M	shares	Point-in-time
Intangible assets, net of accumulated amortization of $11,132 in 2016 and $10,897 in 2015	`IntangibleAssetsNetExcludingGoodwill`	$4.73M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	15.92M	shares	Point-in-time
Intangible assets, net of accumulated amortization of $11,132 in 2016 and $10,897 in 2015	`IntangibleAssetsNetExcludingGoodwill`	$4.27M	USD	Point-in-time
Goodwill	`Goodwill`	$27.26M	USD	Point-in-time
Goodwill	`Goodwill`	$14.20M	USD	Point-in-time
Goodwill	`Goodwill`	$14.51M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	15.74M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	15.90M	shares	Point-in-time
Total assets	`Assets`	$45.38M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	185,831.00	shares	Point-in-time
Total assets	`Assets`	$48.64M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	185,831.00	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.63M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.59M	USD	Point-in-time
Accrued and other expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$3.31M	USD	Point-in-time
Accrued and other expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$4.22M	USD	Point-in-time
Lease payable - current portion	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$715.00K	USD	Point-in-time
Lease payable - current portion	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$969.00K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$7.50M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$7.14M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$12.81M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$14.28M	USD	Point-in-time
Deferred revenue, long-term portion	`DeferredRevenueNoncurrent`	$1.27M	USD	Point-in-time
Deferred revenue, long-term portion	`DeferredRevenueNoncurrent`	$1.08M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$450.00K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$450.00K	USD	Point-in-time
Capital lease - long-term portion	`CapitalLeaseObligationsNoncurrent`	$86.00K	USD	Point-in-time
Capital lease - long-term portion	`CapitalLeaseObligationsNoncurrent`	$22.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$15.89M	USD	Point-in-time
Total liabilities	`Liabilities`	$14.55M	USD	Point-in-time
Commitments and Contingencies (Note 6 and 8)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies (Note 6 and 8)	`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 30,000,000 shares; issued 16,081,562 in 2016 and 15,923,349 in 2015; outstanding 15,895,731 in 2016 and 15,737,518 in 2015	`CommonStockValue`	$159.00K	USD	Point-in-time
Common stock, $ .01 par value: authorized 30,000,000 shares; issued 16,081,562 in 2016 and 15,923,349 in 2015; outstanding 15,895,731 in 2016 and 15,737,518 in 2015	`CommonStockValue`	$161.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$211.51M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$212.12M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-177.51M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-180.04M	USD	Point-in-time
Treasury stock at cost, 185,831 shares in 2016 and 2015	`TreasuryStockValue`	$1.42M	USD	Point-in-time
Treasury stock at cost, 185,831 shares in 2016 and 2015	`TreasuryStockValue`	$1.42M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$30.83M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$32.75M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$45.38M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$48.64M	USD	Point-in-time

Income Statement 49 line items

Line Item	Tag	Value	Unit	Period
Products	`SalesRevenueGoodsNet`	$3.96M	USD	1 Quarter
Products	`SalesRevenueGoodsNet`	$2.03M	USD	1 Quarter
Service and supplies	`SalesRevenueServicesNet`	$9.26M	USD	1 Quarter
Service and supplies	`SalesRevenueServicesNet`	$4.01M	USD	1 Quarter
Total revenue	`SalesRevenueNet`	$13.22M	USD	1 Quarter
Total revenue	`SalesRevenueNet`	$6.04M	USD	1 Quarter
Products	`CostOfGoodsSold`	$190.00K	USD	1 Quarter
Products	`CostOfGoodsSold`	$941.00K	USD	1 Quarter
Service and supplies	`CostOfServices`	$2.28M	USD	1 Quarter
Service and supplies	`CostOfServices`	$1.36M	USD	1 Quarter
Amortization and depreciation	`CostOfGoodsSoldDepreciationAndAmortization`	$639.00K	USD	1 Quarter
Amortization and depreciation	`CostOfGoodsSoldDepreciationAndAmortization`	$303.00K	USD	1 Quarter
Total cost of revenue	`CostOfGoodsAndServicesSold`	$3.86M	USD	1 Quarter
Total cost of revenue	`CostOfGoodsAndServicesSold`	$1.85M	USD	1 Quarter
Gross profit	`GrossProfit`	$4.19M	USD	1 Quarter
Gross profit	`GrossProfit`	$9.36M	USD	1 Quarter
Engineering and product development	`ResearchAndDevelopmentExpense`	$2.27M	USD	1 Quarter
Engineering and product development	`ResearchAndDevelopmentExpense`	$2.26M	USD	1 Quarter
Marketing and sales	`SellingAndMarketingExpense`	$2.50M	USD	1 Quarter
Marketing and sales	`SellingAndMarketingExpense`	$3.83M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$2.21M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.63M	USD	1 Quarter
Amortization and depreciation	`DepreciationAndAmortization`	$620.00K	USD	1 Quarter
Amortization and depreciation	`DepreciationAndAmortization`	$286.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$8.92M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$6.68M	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$443.00K	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$-2.49M	USD	1 Quarter
Loss from extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-1.72M	USD	1 Quarter
Interest expense	`InterestExpense`	$23.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$507.00K	USD	1 Quarter
Other income	`OtherNonoperatingIncome`	$5.00K	USD	1 Quarter
Other income	`OtherNonoperatingIncome`	$9.00K	USD	1 Quarter
Other expense, net	`NonoperatingIncomeExpense`	$-2.22M	USD	1 Quarter
Other expense, net	`NonoperatingIncomeExpense`	$-18.00K	USD	1 Quarter
Loss before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.78M	USD	1 Quarter
Loss before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-2.51M	USD	1 Quarter
Tax expense	`IncomeTaxExpenseBenefit`	$79.00K	USD	1 Quarter
Tax expense	`IncomeTaxExpenseBenefit`	$22.00K	USD	1 Quarter
Net loss and comprehensive loss	`NetIncomeLoss`	$-2.53M	USD	1 Quarter
Net loss and comprehensive loss	`NetIncomeLoss`	$-1.86M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.12	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.16	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.16	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.12	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	15.83M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	15.61M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	15.61M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	15.83M	shares	1 Quarter

Cash Flow Statement 65 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-2.53M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.86M	USD	1 Quarter
Amortization	`AdjustmentForAmortization`	$247.00K	USD	1 Quarter
Amortization	`AdjustmentForAmortization`	$774.00K	USD	1 Quarter
Depreciation	`Depreciation`	$342.00K	USD	1 Quarter
Depreciation	`Depreciation`	$485.00K	USD	1 Quarter
Bad debt provision	`ProvisionForDoubtfulAccounts`	$32.00K	USD	1 Quarter
Bad debt provision	`ProvisionForDoubtfulAccounts`	$102.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$444.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$650.00K	USD	1 Quarter
Amortization of debt discount and debt costs	`AmortizationAccretionOfDiscountsAndPremiums`	$-2.00K	USD	1 Quarter
Amortization of debt discount and debt costs	`AmortizationAccretionOfDiscountsAndPremiums`	$300.00K	USD	1 Quarter
Interest on settlement obligations	`AmortizationOfSettlementObligations`	$45.00K	USD	1 Quarter
Interest on settlement obligations	`AmortizationOfSettlementObligations`	$23.00K	USD	1 Quarter
Deferred tax provision	`DeferredIncomeTaxesAndTaxCredits`	$118.00K	USD	1 Quarter
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-1.72M	USD	1 Quarter
Gain from acquisition settlement	`GainLossFromAcquisitionSettlement`	$249.00K	USD	1 Quarter
Loss on disposal of assets	`GainLossOnDispositionOfAssets`	$-102.00K	USD	1 Quarter
Loss on disposal of assets	`GainLossOnDispositionOfAssets`	$-1.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$723.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.69M	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$223.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$383.00K	USD	1 Quarter
Prepaid and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$112.00K	USD	1 Quarter
Prepaid and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$31.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$15.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$40.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-1.56M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-940.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$431.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-1.04M	USD	1 Quarter
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$612.00K	USD	1 Quarter
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$1.69M	USD	1 Quarter
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-1.92M	USD	1 Quarter
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-168.00K	USD	1 Quarter
Additions to patents, technology and other	`PaymentsToAcquireIntangibleAssets`	$2.00K	USD	1 Quarter
Additions to patents, technology and other	`PaymentsToAcquireIntangibleAssets`	$11.00K	USD	1 Quarter
Additions to property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$133.00K	USD	1 Quarter
Additions to property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$534.00K	USD	1 Quarter
Acquisition of VuComp M-Vu CAD	`PaymentsToAcquireBusinessesGross`	$6.00K	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-141.00K	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-545.00K	USD	1 Quarter
Stock option exercises	`ProceedsFromStockOptionsExercised`	$291.00K	USD	1 Quarter
Stock option exercises	`ProceedsFromStockOptionsExercised`	$10.00K	USD	1 Quarter
Taxes paid related to restricted stock issuance	`TaxesPaidRelatedToRestrictedStockIssuance`	$45.00K	USD	1 Quarter
Taxes paid related to restricted stock issuance	`TaxesPaidRelatedToRestrictedStockIssuance`	$60.00K	USD	1 Quarter
Principal payments of capital lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$214.00K	USD	1 Quarter
Principal payments of capital lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$316.00K	USD	1 Quarter
Principal repayment of debt financing, net	`RepaymentsOfDebt`	$11.25M	USD	1 Quarter
Net cash used for financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-351.00K	USD	1 Quarter
Net cash used for financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-11.23M	USD	1 Quarter
Decrease in cash and equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-11.95M	USD	1 Quarter
Decrease in cash and equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.41M	USD	1 Quarter
Cash and equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$15.28M	USD	Point-in-time
Cash and equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$12.87M	USD	Point-in-time
Cash and equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$32.22M	USD	Point-in-time
Cash and equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$20.27M	USD	Point-in-time
Cash and equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$15.28M	USD	Point-in-time
Cash and equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$12.87M	USD	Point-in-time
Cash and equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$32.22M	USD	Point-in-time
Cash and equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$20.27M	USD	Point-in-time
Interest paid	`InterestPaid`	$28.00K	USD	1 Quarter
Interest paid	`InterestPaid`	$411.00K	USD	1 Quarter
Taxes paid	`IncomeTaxesPaid`	$32.00K	USD	1 Quarter
Taxes paid	`IncomeTaxesPaid`	$38.00K	USD	1 Quarter

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