IceCure Medical Ltd.
ICCM Nasdaq· Surgical & Medical Instruments & Apparatus
Last close · Nov 13, 2026
$0.73
Latest fiscal year · FY25 results fiscal year ended Dec 31, 2025 · vs FY24
| Line | FY24 | FY25 | Change (y/y) |
|---|---|---|---|
| Revenue | $3.3M | $3.4M | 2.7% |
| Net income | −$15.3M | −$15.1M | — |
| Diluted EPS | $0.30 | $0.24 | 20.0% |
| Operating margin | −476.9% | −446.7% | 30.2 pts |
| Free cash flow | −$12.6M | −$14.6M | — |
Key numbers, fiscal 2025
Market cap
$46.4M
P/E
3.0x
Revenue
$3.4M
Net income
−$15.1M
Free cash flow
−$14.6M
Operating margin
−446.7%
IceCure Medical Ltd. in 30 seconds fiscal 2025
Are shareholders being diluted?
+25.0%
A lot. The share count rose 25.0% last year, so each share owns noticeably less.
Does it make a profit?
$7.4M R&D
Not yet: it has no meaningful sales. It spent $7.4M on research and development, 40% of its operating costs.
How long would its cash last?
0.6 yrs
Not long. It burns $14.6M a year and holds $8.9M, under a year at that pace, so it may need new money soon.
Is debt under control?
Net cash
Yes. It has more cash than debt.
How healthy are the accounts?
4 / 9
It passes 4 of 9 health tests, but most of them need sales, so the score says little before revenue starts.
How is the share priced?
3.0x
One share costs 3.0 times its yearly profit per share.
What IceCure Medical Ltd. 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.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 20-F · Mar 17, 2026
- Legal name
- IceCure Medical Ltd.
- CIK
- 0001584371
IceCure Medical Ltd. · ICCM · stoqly.net
Results and finances
The last 5 fiscal years. Amounts in USD. Compiled by stoqly.net.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Sales and profit | |||||
| Revenue | $4.1M | $3.1M | $3.2M | $3.3M | $3.4M |
| Revenue growth | 7.0% | −25.4% | 4.7% | 1.9% | 2.7% |
| Gross margin | 53.0% | 46.8% | 40.3% | 44.1% | 36.3% |
| Operating margin | −235.0% | −542.6% | −482.4% | −476.9% | −446.7% |
| Net income | −$9.9M | −$17.0M | −$14.7M | −$15.3M | −$15.1M |
| Net margin | −239.1% | −550.3% | −453.8% | −465.5% | −445.6% |
| Diluted EPS | $0.35 | $0.46 | $0.32 | $0.30 | $0.24 |
| Cash | |||||
| Cash from operations | −$12.6M | −$14.3M | −$12.6M | −$12.6M | −$14.6M |
| Capital expenditure | $0.5M | $0.9M | $0.5M | $0.1M | $0.0M |
| Free cash flow | −$13.1M | −$15.2M | −$13.0M | −$12.6M | −$14.6M |
| FCF margin | −317.5% | −492.2% | −403.5% | −383.9% | −432.4% |
| Share count change | 66.7% | 29.7% | 23.3% | 11.5% | 25.0% |
| Debt and strength | |||||
| Cash and short-term investments | $25.6M | $23.7M | $11.1M | $7.6M | $8.9M |
| Debt incl. finance leases | — | — | — | $0.2M | $0.0M |
| Deposits | $0.0M | $0.0M | $0.0M | — | — |
| Shareholders' equity | $27.0M | $25.4M | $12.2M | $6.9M | $9.1M |
| Current ratio | 7.5x | 6.5x | 3.7x | 2.0x | 2.6x |
| Returns and quality | |||||
| Return on capital | — | — | — | — | −7,140.3% |
| Return on equity | −60.7% | −64.8% | −78.0% | −160.7% | −188.8% |
| Return on tangible equity | −36.7% | −66.8% | −120.5% | −222.0% | −166.4% |
| Piotroski F-score | 2 | 1 | 2 | 3 | 4 |
| Altman Z'' | 2.7 | −1.1 | −17.1 | −31.7 | −29.9 |
Insider trades 12 months
Insiders bought, 12 months
$0.0M
0 insiders
Insiders sold, 12 months
$0.0M
0 insiders
Of sales under plans
—
$0.0M
How to read these numbers
- Revenue:
- Total sales reported in the income statement.
- Operating margin:
- Operating income as a share of revenue.
- Net income:
- Profit after all expenses, interest and tax.
- Free cash flow:
- Cash from operations minus capital spending.
- Net debt / EBITDA:
- Years of EBITDA needed to pay off net debt. Below zero means more cash than debt.
- Return on capital:
- After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
IceCure Medical Ltd. · ICCM · stoqly.net
Charts and comparison
Ten years at a glance, and how it stacks up against similar companies.
Revenue
Net income
Margins, % of revenue
Cash vs debt (incl. leases)
Free cash flow
Dividends and buybacks
Compiled and analysed by stoqly.net from SEC EDGAR XBRL filings (CIK 0001584371). Latest version: stoqly.net/companies/iccm. Data updated November 9, 2026. For information only — not investment advice. Check the original filings before relying on any figure.