10-Q Filing

ICAD INC CIK: 749660 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001193125-18-164044`
Period End Date	20180331
Filing Date	20180515
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	icad-20180331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 84 Income Statement 48 Cash Flow Statement 60

Balance Sheet 84 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts on trade accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$107.00K	USD	Point-in-time
Allowance for doubtful accounts on trade accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$142.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.66M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$9.54M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.59M	USD	Point-in-time
Property and equipment, accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$5.99M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$9.39M	USD	Point-in-time
Property and equipment, accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$5.89M	USD	Point-in-time
Trade accounts receivable, net of allowance for doubtful accounts of $142 in 2018 and $107 in 2017	`AccountsReceivableNetCurrent`	$7.28M	USD	Point-in-time
Intangible assets, accumulated amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$7.43M	USD	Point-in-time
Intangible assets, accumulated amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$7.52M	USD	Point-in-time
Trade accounts receivable, net of allowance for doubtful accounts of $142 in 2018 and $107 in 2017	`AccountsReceivableNetCurrent`	$8.60M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Inventory, net	`InventoryNet`	$2.20M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Inventory, net	`InventoryNet`	$2.12M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.10M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.16M	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
Total current assets	`AssetsCurrent`	$19.30M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$21.21M	USD	Point-in-time
Property and equipment, net of accumulated depreciation of $5,985 in 2018 and $5,889 in 2017	`PropertyPlantAndEquipmentNet`	$576.00K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Property and equipment, net of accumulated depreciation of $5,985 in 2018 and $5,889 in 2017	`PropertyPlantAndEquipmentNet`	$502.00K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	30.00M	shares	Point-in-time
Other assets	`OtherAssetsMiscellaneousNoncurrent`	$53.00K	USD	Point-in-time
Other assets	`OtherAssetsMiscellaneousNoncurrent`	$53.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	30.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	16.85M	shares	Point-in-time
Intangible assets, net of accumulated amortization of $7,517 in 2018 and $7,433 in 2017	`IntangibleAssetsNetExcludingGoodwill`	$1.93M	USD	Point-in-time
Intangible assets, net of accumulated amortization of $7,517 in 2018 and $7,433 in 2017	`IntangibleAssetsNetExcludingGoodwill`	$1.83M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	16.71M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	16.53M	shares	Point-in-time
Goodwill	`Goodwill`	$8.36M	USD	Point-in-time
Goodwill	`Goodwill`	$8.36M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	16.66M	shares	Point-in-time
Total assets	`Assets`	$30.05M	USD	Point-in-time
Total assets	`Assets`	$32.13M	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
Accounts payable	`AccountsPayableCurrent`	$1.36M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.54M	USD	Point-in-time
Accrued and other expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$4.47M	USD	Point-in-time
Accrued and other expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$4.68M	USD	Point-in-time
Lease payable - current portion	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$13.00K	USD	Point-in-time
Lease payable - current portion	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$12.00K	USD	Point-in-time
Notes payable - current portion	`NotesPayableCurrent`	$817.00K	USD	Point-in-time
Notes payable - current portion	`NotesPayableCurrent`	$1.19M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$5.48M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$5.40M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$12.90M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$12.07M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$95.00K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$119.00K	USD	Point-in-time
Lease payable, long-term portion	`CapitalLeaseObligationsNoncurrent`	$22.00K	USD	Point-in-time
Lease payable, long-term portion	`CapitalLeaseObligationsNoncurrent`	$27.00K	USD	Point-in-time
Notes payable, long-term portion	`LongTermNotesPayable`	$4.81M	USD	Point-in-time
Notes payable, long-term portion	`LongTermNotesPayable`	$5.12M	USD	Point-in-time
Deferred revenue, long-term portion	`DeferredRevenueNoncurrent`	$773.00K	USD	Point-in-time
Deferred revenue, long-term portion	`DeferredRevenueNoncurrent`	$506.00K	USD	Point-in-time
Deferred tax	`DeferredTaxLiabilitiesNoncurrent`	$6.00K	USD	Point-in-time
Deferred tax	`DeferredTaxLiabilitiesNoncurrent`	$14.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$17.86M	USD	Point-in-time
Total liabilities	`Liabilities`	$18.61M	USD	Point-in-time
Commitments and Contingencies (Note 5, 6 and 8)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies (Note 5, 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 16,848,824 in 2018 and 16,711,752 in 2017; outstanding 16,662,993 in 2018 and 16,525,681 in 2017	`CommonStockValue`	$168.00K	USD	Point-in-time
Common stock, $ .01 par value: authorized 30,000,000 shares; issued 16,848,824 in 2018 and 16,711,752 in 2017; outstanding 16,662,993 in 2018 and 16,525,681 in 2017	`CommonStockValue`	$167.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$217.39M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$217.72M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-205.04M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-201.87M	USD	Point-in-time
Treasury stock at cost, 185,831 shares in 2018 and 2017	`TreasuryStockValue`	$1.42M	USD	Point-in-time
Treasury stock at cost, 185,831 shares in 2018 and 2017	`TreasuryStockValue`	$1.42M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$11.44M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$14.28M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$32.13M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$30.05M	USD	Point-in-time

Income Statement 48 line items

Line Item	Tag	Value	Unit	Period
Products	`SalesRevenueGoodsNet`	$3.01M	USD	1 Quarter
Products	`SalesRevenueGoodsNet`	$3.13M	USD	1 Quarter
Service and supplies	`SalesRevenueServicesNet`	$3.30M	USD	1 Quarter
Service and supplies	`SalesRevenueServicesNet`	$3.66M	USD	1 Quarter
Total revenue	`SalesRevenueNet`	$6.31M	USD	1 Quarter
Total revenue	`SalesRevenueNet`	$6.79M	USD	1 Quarter
Products	`CostOfGoodsSold`	$420.00K	USD	1 Quarter
Products	`CostOfGoodsSold`	$458.00K	USD	1 Quarter
Service and supplies	`CostOfServices`	$1.25M	USD	1 Quarter
Service and supplies	`CostOfServices`	$1.38M	USD	1 Quarter
Amortization and depreciation	`CostOfGoodsSoldDepreciationAndAmortization`	$298.00K	USD	1 Quarter
Amortization and depreciation	`CostOfGoodsSoldDepreciationAndAmortization`	$105.00K	USD	1 Quarter
Total cost of revenue	`CostOfGoodsAndServicesSold`	$1.81M	USD	1 Quarter
Total cost of revenue	`CostOfGoodsAndServicesSold`	$2.10M	USD	1 Quarter
Gross profit	`GrossProfit`	$4.50M	USD	1 Quarter
Gross profit	`GrossProfit`	$4.69M	USD	1 Quarter
Engineering and product development	`ResearchAndDevelopmentExpense`	$2.57M	USD	1 Quarter
Engineering and product development	`ResearchAndDevelopmentExpense`	$3.34M	USD	1 Quarter
Marketing and sales	`SellingAndMarketingExpense`	$2.90M	USD	1 Quarter
Marketing and sales	`SellingAndMarketingExpense`	$2.17M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$2.06M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$2.03M	USD	1 Quarter
Amortization and depreciation	`DepreciationAndAmortization`	$83.00K	USD	1 Quarter
Amortization and depreciation	`DepreciationAndAmortization`	$122.00K	USD	1 Quarter
Gain on sale of MRI assets	`GainLossOnSaleOfBusiness`	$2.51M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$5.12M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$7.65M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-435.00K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-3.15M	USD	1 Quarter
Interest expense	`InterestExpense`	$142.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$5.00K	USD	1 Quarter
Other income	`OtherNonoperatingIncome`	$22.00K	USD	1 Quarter
Other expense, net	`NonoperatingIncomeExpense`	$-120.00K	USD	1 Quarter
Other expense, net	`NonoperatingIncomeExpense`	$-5.00K	USD	1 Quarter
Loss before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-440.00K	USD	1 Quarter
Loss before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-3.27M	USD	1 Quarter
Tax expense	`IncomeTaxExpenseBenefit`	$17.00K	USD	1 Quarter
Tax expense	`IncomeTaxExpenseBenefit`	$13.00K	USD	1 Quarter
Net loss and comprehensive loss	`NetIncomeLoss`	$-457.00K	USD	1 Quarter
Net loss and comprehensive loss	`NetIncomeLoss`	$-3.28M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.20	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.03	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.03	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.20	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	16.14M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	16.58M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	16.58M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	16.14M	shares	1 Quarter

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-457.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.28M	USD	1 Quarter
Amortization	`AdjustmentForAmortization`	$133.00K	USD	1 Quarter
Amortization	`AdjustmentForAmortization`	$92.00K	USD	1 Quarter
Depreciation	`Depreciation`	$96.00K	USD	1 Quarter
Depreciation	`Depreciation`	$287.00K	USD	1 Quarter
Bad debt provision	`ProvisionForDoubtfulAccounts`	$85.00K	USD	1 Quarter
Bad debt provision	`ProvisionForDoubtfulAccounts`	$37.00K	USD	1 Quarter
Inventory obsolesence reserve	`InventoryWriteDown`	$13.00K	USD	1 Quarter
Inventory obsolesence reserve	`InventoryWriteDown`	$-2.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$969.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$391.00K	USD	1 Quarter
Amortization of debt discount and debt costs	`AmortizationAccretionOfDiscountsAndPremiums`	$64.00K	USD	1 Quarter
Interest on settlement obligations	`AmortizationOfSettlementObligations`	$13.00K	USD	1 Quarter
Deferred tax expense	`DeferredIncomeTaxesAndTaxCredits`	$-8.00K	USD	1 Quarter
Loss on disposal of assets	`GainLossOnDispositionOfAssets`	$-12.00K	USD	1 Quarter
Gain on sale of MRI assets	`GainLossOnSaleOfBusinessNotIncludingEscrow`	$2.16M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.26M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$433.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$72.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-238.00K	USD	1 Quarter
Prepaid and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-59.00K	USD	1 Quarter
Prepaid and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-85.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$137.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$177.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$186.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$8.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$298.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-483.00K	USD	1 Quarter
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$2.64M	USD	1 Quarter
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$-1.15M	USD	1 Quarter
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-641.00K	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`	$253.00K	USD	1 Quarter
Additions to property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$22.00K	USD	1 Quarter
Sale of MRI assets	`ProceedsFromDivestitureOfBusinesses`	$2.85M	USD	1 Quarter
Net cash (used for) provided by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-24.00K	USD	1 Quarter
Net cash (used for) provided by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$2.60M	USD	1 Quarter
Stock option exercises	`ProceedsFromStockOptionsExercised`	$19.00K	USD	1 Quarter
Taxes paid related to restricted stock issuance	`TaxesPaidRelatedToRestrictedStockIssuance`	$57.00K	USD	1 Quarter
Taxes paid related to restricted stock issuance	`TaxesPaidRelatedToRestrictedStockIssuance`	$45.00K	USD	1 Quarter
Principal repayment of debt financing, net	`RepaymentsOfDebt`	$3.00K	USD	1 Quarter
Net cash used for financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-26.00K	USD	1 Quarter
Net cash used for financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-60.00K	USD	1 Quarter
(Decrease) increase in cash and equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-725.00K	USD	1 Quarter
(Decrease) increase in cash and equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$958.00K	USD	1 Quarter
Cash and equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$8.66M	USD	Point-in-time
Cash and equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$9.54M	USD	Point-in-time
Cash and equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$8.59M	USD	Point-in-time
Cash and equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$9.39M	USD	Point-in-time
Cash and equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$8.66M	USD	Point-in-time
Cash and equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$9.54M	USD	Point-in-time
Cash and equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$8.59M	USD	Point-in-time
Cash and equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$9.39M	USD	Point-in-time
Interest paid	`InterestPaid`	$3.00K	USD	1 Quarter
Interest paid	`InterestPaid`	$67.00K	USD	1 Quarter
Taxes paid	`IncomeTaxesPaid`	$23.00K	USD	1 Quarter
Taxes paid	`IncomeTaxesPaid`	$29.00K	USD	1 Quarter

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