By Owen Tucker-Smith
iCAD shares jumped after the company issued fourth-quarter sales guidance ahead of Wall Street expectations.
Shares of the medical-device manufacturer were up 17% to $2.82 in Monday trading. The stock price is sitting above its 52-week high and has more than doubled over the past six months.
The company said it expects fourth-quarter revenue between $5.1 million and $5.3 million. Analysts surveyed by FactSet expected $4.5 million. The new guidance would represent a sales jump of between 8.5% and 12.8% from a year ago, when sales came in at $4.7 million.
The Nashua, N.H., company noted that it closed 106 deals in the fourth quarter, 19 of which were cloud deals with new and established customers.
iCAD, which develops AI-powered technology to detect breast cancer, said it would present at the 12th Annual MedTech, Digital Health, Life Science and Diagnostic Tools Conference taking place in Snowbird, Utah, in February.
Write to Owen Tucker-Smith at owen.tucker-smith@wsj.com
(END) Dow Jones Newswires
January 27, 2025 14:12 ET (19:12 GMT)
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