IceCure Medical (ICCM) Q1 2026 earnings summary

Executive summary

• Revenue grew 26% year-over-year in Q1 2026, with North America up 84% and U.S. sales up 31%, driven by increased system sales, disposable probe utilization, and pent-up demand post-FDA clearance.

• Active U.S. accounts rose by 46% post-FDA clearance, from 13 to 19, with continued growth expected in Q2.

• FDA clearance for low-risk early breast cancer accelerated commercial momentum and global interest, especially in Europe and Asia.

• Commercial pipeline conversion accelerated, with new installations and expanded hospital network penetration.

• Clinical guidelines and reimbursement improvements, including updated ASBRS recommendations, are supporting broader adoption.

Financial highlights

• Q1 2026 revenue reached $911,000, up 26% year-over-year.

• Gross profit grew 35% to $295,000, with gross margin improving to 32% from 30% year-over-year.

• Net loss widened to $4,274,000 ($0.06 per share) from $3,588,000 ($0.06 per share) in Q1 2025.

• Cash and cash equivalents stood at $8,115,000 as of March 31, 2026.

• Growth driven by new system placements and higher disposable probe sales.

Outlook and guidance

• Expect continued growth in active accounts and system placements in Q2 and beyond, with U.S. sales footprint expanding to eight regions in 2026.

• Anticipate strong Q2, slower Q3 due to summer, and robust Q4 performance.

• Pipeline visibility supports durable growth into 2027.

• Sales and marketing expenses projected to increase for the remainder of 2026 as market penetration efforts intensify.