IceCure Medical (ICCM) Q2 2026 earnings summary

Executive summary

• Achieved a pivotal inflection point in H1 2026, with clinical, regulatory, and commercial strategies reinforcing each other.

• Achieved 45% year-over-year revenue growth to $1.8 million for H1 2026, driven by increased sales of systems and disposable probes.

• Expanded U.S. commercial footprint with 70% growth in active installed base after FDA clearance, supporting long-term value creation.

• Strengthened balance sheet with $8.5 million in gross proceeds from financings, ending H1 2026 with $12 million in cash and equivalents.

• Advanced the CHOICE post-market study to support physician adoption, reimbursement, and commercialization, with clinical sites purchasing probes as part of routine care.

Financial highlights

• Revenue for H1 2026 increased 45% year-over-year to $1.8 million, up from $1.25 million in H1 2025.

• Gross profit rose to $548,000 from $349,000, with gross margin improving to 30.1% from 26.8%, aided by scale and operating leverage.

• Net loss was $8.8 million ($3.17/share) versus $7 million ($3.59/share) in H1 2025.

• Ended H1 2026 with $12 million in cash and equivalents, up from $8.9 million at 2025 year-end, reflecting $8.5 million in new financing.

• R&D expenses rose to $4.3 million (from $3.4 million), mainly due to the CHOICE Study and FX impacts.

Outlook and guidance

• Expect continued commercial expansion, increased physician adoption, and higher procedure volumes.

• CHOICE Study enrollment is on track, with first patients expected imminently and a target of 80 patients by March 2027.

• Q3 is expected to be seasonally lower, with Q4 traditionally the strongest quarter.

• Plans to continue investing in U.S. and international commercial infrastructure, including sales organization and clinical studies.

• Expects further expansion of the CHOICE Study with additional U.S. clinical sites and increased patient enrollment.