On March 27, 2025, IceCure Medical Ltd. reported its financial results for the twelve months ended December 31, 2024. Sales of ProSense® systems and disposable probes increased to $3,191,000, up from $2,955,000 in 2023. Total revenue for the year increased to $3,291,000 from $3,229,000 in the prior year. North American sales demonstrated robust growth, increasing by 42% year-over-year.
Gross profit for the twelve months increased by 12% to $1,451,000 from $1,300,000, with the gross margin expanding to 44% from 40% in 2023. Non-GAAP gross profit increased by 32% to $1,351,000, and non-GAAP gross margin rose to 42% from 35%. Research and development expenses decreased by 14% to $7,096,000, while sales and marketing expenses increased by 42% to $6,296,000 in anticipation of potential U.S. marketing authorization.
The company reported a net loss of $15,318,000, or $0.30 per share, compared to a net loss of $14,652,000, or $0.32 per share, in 2023. As of December 31, 2024, cash and cash equivalents were approximately $7.6 million. IceCure continues to engage with the FDA regarding its De Novo marketing authorization request for ProSense® in early-stage low-risk breast cancer, following a favorable advisory panel decision in November 2024.
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