iCAD Reports Financial Results for Third Quarter Ended September 30, 2023
NASHUA, N.H., Nov. 13, 2023 (GLOBE NEWSWIRE) -- iCAD, Inc. (NASDAQ: ICAD) a global leader on a mission to create a world where cancer can’t hide by providing clinically proven AI-powered breast health solutions, today reported its financial and operating results for the three and nine months ended September 30, 2023.
- NASHUA, N.H., Nov. 13, 2023 (GLOBE NEWSWIRE) -- iCAD, Inc. (NASDAQ: ICAD) a global leader on a mission to create a world where cancer can’t hide by providing clinically proven AI-powered breast health solutions, today reported its financial and operating results for the three and nine months ended September 30, 2023.
- Company re-introduces Annual Recurring Revenue (ARR) metrics to highlight progress of subscription sales and growing recurring revenue model.
- Subscription ARR (S-ARR) represents the annualized value of active subscription or term licenses at the end of a reporting period.
- Three Months Ended September 30, 2023 Financial Results
Total revenue for our Detection business for the third quarter of 2023 was $4.1 million, a decrease of $0.3 million, or 7%, as compared to the third quarter of 2022.