10-Q Filing

ICAD INC CIK: 749660 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001193125-17-167212`
Period End Date	20170331
Filing Date	20170511
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	icad-20170331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 81 Income Statement 48 Cash Flow Statement 61

Balance Sheet 81 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts on trade accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$172.00K	USD	Point-in-time
Allowance for doubtful accounts on trade accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$210.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.59M	USD	Point-in-time
Property and equipment, accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$6.54M	USD	Point-in-time
Property and equipment, accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$6.78M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$9.54M	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
Trade accounts receivable, net of allowance for doubtful accounts of $210 in 2017 and $172 in 2016	`AccountsReceivableNetCurrent`	$5.57M	USD	Point-in-time
Trade accounts receivable, net of allowance for doubtful accounts of $210 in 2017 and $172 in 2016	`AccountsReceivableNetCurrent`	$5.19M	USD	Point-in-time
Intangible assets, accumulated amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$7.65M	USD	Point-in-time
Intangible assets, accumulated amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$7.52M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Inventory, net	`InventoryNet`	$3.73M	USD	Point-in-time
Inventory, net	`InventoryNet`	$3.48M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.13M	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`	$693.00K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Assets held for sale	`AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$1.30M	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`	$19.28M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$19.93M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	30.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	30.00M	shares	Point-in-time
Property and equipment, net of accumulated depreciation of $6,783 in 2017 and $6,538 in 2016	`PropertyPlantAndEquipmentNet`	$1.39M	USD	Point-in-time
Property and equipment, net of accumulated depreciation of $6,783 in 2017 and $6,538 in 2016	`PropertyPlantAndEquipmentNet`	$1.35M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	16.35M	shares	Point-in-time
Other assets	`OtherAssetsMiscellaneousNoncurrent`	$53.00K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	16.26M	shares	Point-in-time
Other assets	`OtherAssetsMiscellaneousNoncurrent`	$403.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	16.07M	shares	Point-in-time
Intangible assets, net of accumulated amortization of $7,651 in 2017 and $7,518 in 2016	`IntangibleAssetsNetExcludingGoodwill`	$3.05M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	16.17M	shares	Point-in-time
Intangible assets, net of accumulated amortization of $7,651 in 2017 and $7,518 in 2016	`IntangibleAssetsNetExcludingGoodwill`	$3.18M	USD	Point-in-time
Goodwill	`Goodwill`	$14.10M	USD	Point-in-time
Goodwill	`Goodwill`	$14.10M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	185,831.00	shares	Point-in-time
Goodwill	`Goodwill`	$14.20M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	185,831.00	shares	Point-in-time
Total assets	`Assets`	$38.19M	USD	Point-in-time
Total assets	`Assets`	$38.65M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.71M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.58M	USD	Point-in-time
Accrued and other expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$4.99M	USD	Point-in-time
Accrued and other expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$5.03M	USD	Point-in-time
Lease payable - current portion	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$86.00K	USD	Point-in-time
Lease payable - current portion	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$22.00K	USD	Point-in-time
Liabilities held for sale	`LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$832.00K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$5.37M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$5.17M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$11.94M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$12.86M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$124.00K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$83.00K	USD	Point-in-time
Deferred revenue, long-term portion	`DeferredRevenueNoncurrent`	$668.00K	USD	Point-in-time
Deferred revenue, long-term portion	`DeferredRevenueNoncurrent`	$589.00K	USD	Point-in-time
Deferred tax	`DeferredTaxLiabilitiesNoncurrent`	$7.00K	USD	Point-in-time
Deferred tax	`DeferredTaxLiabilitiesNoncurrent`	$7.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$12.66M	USD	Point-in-time
Total liabilities	`Liabilities`	$13.61M	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 16,352,843 in 2017 and 16,260,663 in 2016; outstanding 16,167,012 in 2017 and 16,074,832 in 2016	`CommonStockValue`	$163.00K	USD	Point-in-time
Common stock, $ .01 par value: authorized 30,000,000 shares; issued 16,352,843 in 2017 and 16,260,663 in 2016; outstanding 16,167,012 in 2017 and 16,074,832 in 2016	`CommonStockValue`	$164.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$214.84M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$213.90M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-187.61M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-188.07M	USD	Point-in-time
Treasury stock at cost, 185,831 shares in 2017 and 2016	`TreasuryStockValue`	$1.42M	USD	Point-in-time
Treasury stock at cost, 185,831 shares in 2017 and 2016	`TreasuryStockValue`	$1.42M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$25.52M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$25.04M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$38.19M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$38.65M	USD	Point-in-time

Income Statement 48 line items

Line Item	Tag	Value	Unit	Period
Products	`SalesRevenueGoodsNet`	$3.13M	USD	1 Quarter
Products	`SalesRevenueGoodsNet`	$2.03M	USD	1 Quarter
Service and supplies	`SalesRevenueServicesNet`	$3.66M	USD	1 Quarter
Service and supplies	`SalesRevenueServicesNet`	$4.01M	USD	1 Quarter
Total revenue	`SalesRevenueNet`	$6.04M	USD	1 Quarter
Total revenue	`SalesRevenueNet`	$6.79M	USD	1 Quarter
Products	`CostOfGoodsSold`	$420.00K	USD	1 Quarter
Products	`CostOfGoodsSold`	$190.00K	USD	1 Quarter
Service and supplies	`CostOfServices`	$1.36M	USD	1 Quarter
Service and supplies	`CostOfServices`	$1.38M	USD	1 Quarter
Amortization and depreciation	`CostOfGoodsSoldDepreciationAndAmortization`	$303.00K	USD	1 Quarter
Amortization and depreciation	`CostOfGoodsSoldDepreciationAndAmortization`	$298.00K	USD	1 Quarter
Total cost of revenue	`CostOfGoodsAndServicesSold`	$2.10M	USD	1 Quarter
Total cost of revenue	`CostOfGoodsAndServicesSold`	$1.85M	USD	1 Quarter
Gross profit	`GrossProfit`	$4.69M	USD	1 Quarter
Gross profit	`GrossProfit`	$4.19M	USD	1 Quarter
Engineering and product development	`ResearchAndDevelopmentExpense`	$2.27M	USD	1 Quarter
Engineering and product development	`ResearchAndDevelopmentExpense`	$2.57M	USD	1 Quarter
Marketing and sales	`SellingAndMarketingExpense`	$2.90M	USD	1 Quarter
Marketing and sales	`SellingAndMarketingExpense`	$2.50M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$2.03M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.63M	USD	1 Quarter
Amortization and depreciation	`DepreciationAndAmortization`	$122.00K	USD	1 Quarter
Amortization and depreciation	`DepreciationAndAmortization`	$286.00K	USD	1 Quarter
Gain on sale of MRI assets	`GainLossOnSaleOfBusiness`	$2.51M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$6.68M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$5.12M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-2.49M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-435.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$23.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$5.00K	USD	1 Quarter
Other income	`OtherNonoperatingIncome`	$5.00K	USD	1 Quarter
Other expense, net	`NonoperatingIncomeExpense`	$-18.00K	USD	1 Quarter
Other expense, net	`NonoperatingIncomeExpense`	$-5.00K	USD	1 Quarter
Loss before income tax (expense) benefit	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-440.00K	USD	1 Quarter
Loss before income tax (expense) benefit	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-2.51M	USD	1 Quarter
Tax (expense) benefit	`IncomeTaxExpenseBenefit`	$17.00K	USD	1 Quarter
Tax (expense) benefit	`IncomeTaxExpenseBenefit`	$22.00K	USD	1 Quarter
Net loss and comprehensive loss	`NetIncomeLoss`	$-457.00K	USD	1 Quarter
Net loss and comprehensive loss	`NetIncomeLoss`	$-2.53M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.03	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.16	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.03	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.16	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	16.14M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	15.83M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	16.14M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	15.83M	shares	1 Quarter

Cash Flow Statement 61 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-457.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.53M	USD	1 Quarter
Amortization	`AdjustmentForAmortization`	$133.00K	USD	1 Quarter
Amortization	`AdjustmentForAmortization`	$247.00K	USD	1 Quarter
Depreciation	`Depreciation`	$287.00K	USD	1 Quarter
Depreciation	`Depreciation`	$342.00K	USD	1 Quarter
Bad debt provision	`ProvisionForDoubtfulAccounts`	$37.00K	USD	1 Quarter
Bad debt provision	`ProvisionForDoubtfulAccounts`	$102.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$969.00K	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
Interest on settlement obligations	`AmortizationOfSettlementObligations`	$23.00K	USD	1 Quarter
Interest on settlement obligations	`AmortizationOfSettlementObligations`	$13.00K	USD	1 Quarter
Gain from acquisition litigation settlement	`GainLossFromAcquisitionSettlement`	$249.00K	USD	1 Quarter
Loss on disposal of assets	`GainLossOnDispositionOfAssets`	$-1.00K	USD	1 Quarter
Gain on sale of MRI assets	`GainLossOnSaleOfBusiness`	$2.51M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$433.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.69M	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$223.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-251.00K	USD	1 Quarter
Prepaid and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-435.00K	USD	1 Quarter
Prepaid and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$31.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$40.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$137.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-940.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$8.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-483.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-1.04M	USD	1 Quarter
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$612.00K	USD	1 Quarter
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$-1.15M	USD	1 Quarter
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-1.92M	USD	1 Quarter
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-1.61M	USD	1 Quarter
Additions to patents, technology and other	`PaymentsToAcquireIntangibleAssets`	$2.00K	USD	1 Quarter
Additions to patents, technology and other	`PaymentsToAcquireIntangibleAssets`	$2.00K	USD	1 Quarter
Additions to property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$133.00K	USD	1 Quarter
Additions to property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$253.00K	USD	1 Quarter
Acquisition of VuComp M-Vu CAD	`PaymentsToAcquireBusinessesGross`	$6.00K	USD	1 Quarter
Sale of MRI assets	`ProceedsFromDivestitureOfBusinesses`	$2.85M	USD	1 Quarter
Net cash provided by (used for) investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$2.60M	USD	1 Quarter
Net cash provided by (used for) investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-141.00K	USD	1 Quarter
Stock option exercises	`ProceedsFromStockOptionsExercised`	$10.00K	USD	1 Quarter
Stock option exercises	`ProceedsFromStockOptionsExercised`	$19.00K	USD	1 Quarter
Taxes paid related to restricted stock issuance	`TaxesPaidRelatedToRestrictedStockIssuance`	$45.00K	USD	1 Quarter
Taxes paid related to restricted stock issuance	`TaxesPaidRelatedToRestrictedStockIssuance`	$45.00K	USD	1 Quarter
Principal payments of capital lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$316.00K	USD	1 Quarter
Net cash used for financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-26.00K	USD	1 Quarter
Net cash used for financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-351.00K	USD	1 Quarter
Increase (Decrease) in cash and equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$958.00K	USD	1 Quarter
Increase (Decrease) in cash and equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.41M	USD	1 Quarter
Cash and equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$8.59M	USD	Point-in-time
Cash and equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$9.54M	USD	Point-in-time
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, end of period	`CashAndCashEquivalentsAtCarryingValue`	$8.59M	USD	Point-in-time
Cash and equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$9.54M	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
Interest paid	`InterestPaid`	$3.00K	USD	1 Quarter
Interest paid	`InterestPaid`	$29.00K	USD	1 Quarter
Taxes paid	`IncomeTaxesPaid`	$29.00K	USD	1 Quarter
Taxes paid	`IncomeTaxesPaid`	$32.00K	USD	1 Quarter

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