# IceCure Medical Ltd. (ICCM)

Source page: https://stoqly.net/companies/iccm

- **Ticker:** ICCM (Nasdaq)
- **Sector:** Health Care / Surgical & Medical Instruments & Apparatus
- **SEC CIK:** 0001584371
- **Latest annual report:** 20-F filed 2026-03-17 (https://www.sec.gov/Archives/edgar/data/1584371/000121390026028684/ea0280425-20f_icecure.htm)
- **Data updated:** 2026-11-09

## What the company does

IceCure Medical develops cryoablation systems that destroy tumors by freezing them inside the body. Its main commercial product is the ProSense system, used with disposable CryoProbes; the company also offers IceSense3 and is developing XSense and MSense systems. The technology is designed for benign and malignant tumors in the breast, lungs, kidneys, bones and other tissues, as well as nerve treatment for pain and other conditions. ProSense has FDA marketing authorization for treating biologically low-risk breast cancer in women aged 70 and above who receive adjuvant endocrine therapy.

IceCure earns revenue by selling systems and disposable probes and introducers to distributors or medical users, placing systems in return for commitments to buy a minimum number of probes, and providing service and maintenance. Probe sales are linked to the number of procedures, so they can recur as system use grows. The company has regulatory approvals for ProSense or IceSense3 in the United States, European Union, Switzerland, Canada, China, Singapore, India, Hong Kong, Russia, Thailand, Taiwan, South Africa, Mexico, Australia, Israel, Costa Rica, Turkey, and Brazil. It names no competitors.

IceCure develops its technology and manufactures systems and disposables, with capital spending on its manufacturing facility and equipment substantially all in Israel. Procedures use a small incision to guide a disposable probe into a tumor; liquid nitrogen freezes the target while imaging helps the physician monitor the treatment. The company is based in Caesarea, Israel.

## Key figures

- **Last close:** $0.73 on 2026-11-13 (+4.21% on the day)
- **Market cap:** $46.4M
- **P/E (trailing):** 3.0x
- **EPS, trailing 12 months:** $0.24
- **Revenue (FY2025):** $3.4M
- **Revenue growth:** +2.7%
- **Revenue growth, 5-year CAGR:** −2.7%
- **Gross margin:** 36.3%
- **Operating margin:** −446.7%
- **Net margin:** −445.6%
- **Free cash flow:** −$14.6M
- **Free cash flow margin:** −432.4%
- **Return on invested capital:** −7,140.3%
- **Return on equity:** −188.8%
- **Net debt:** −$8.9M
- **Change in share count:** +25.0%
- **Piotroski F-score:** 4/9
- **Insider buys, last 90 days:** $0.0M
- **Insider sells, last 90 days:** $0.0M

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## Annual results

From SEC EDGAR XBRL filings. Full table: https://stoqly.net/companies/iccm/figures.csv

| US$ millions | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---:|---:|---:|---:|---:|---:|---:|
| Revenue | 2 | 4 | 4 | 3 | 3 | 3 | 3 |
| Operating income | -5 | -4 | -10 | -17 | -16 | -16 | -15 |
| Net income | -5 | -4 | -10 | -17 | -15 | -15 | -15 |
| Diluted EPS (US$) | 0.33 | 0.22 | 0.35 | 0.46 | 0.32 | 0.30 | 0.24 |
| Operating cash flow | -2 | -4 | -13 | -14 | -13 | -13 | -15 |
| Free cash flow | -2 | -4 | -13 | -15 | -13 | -13 | -15 |
| Cash | 6 | 4 | 26 | 24 | 11 | 8 | 9 |
| Debt and leases | — | — | — | — | — | 0 | 0 |

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Source: SEC EDGAR filings and end-of-day prices, via Stoqly. For information only — not investment advice or a recommendation to buy, sell or hold any security.