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IceCure Medical Ltd, a commercial stage medical device company, engages in the research, development, and marketing of cryoablation systems, disposables, and technologies for treating tumors. The company offers ProSense system, a single probe system for the treatment of tumors, as well as associated disposables; and IceSense3 system for ablation indications to urology, oncology, dermatology, gynecology, general surgery, thoracic surgery, and proctology. It also develops XSense system, a single probe system; and MultiSense, a multi probe system for the treatment of multiple and larger tumors. The company was incorporated in 2006 and is headquartered in Caesarea, Israel.
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IceCure Medical develops and commercializes minimally invasive cryoablation systems for treating benign and malignant tumors, with commercial operations in select markets and ongoing efforts to expand indications and regulatory approvals. Long-term growth drivers include broader adoption of image-guided, tissue-sparing oncology procedures, accumulation of clinical evidence and expansion into new geographies, which may benefit revenue growth and market adoption. Investors may find exposure to a niche interventional oncology device company attractive for potential substitution of surgery in specific indications.
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| Breakdown | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Income before tax | -16.98M | -9.89M | -4.69M | -4.77M | -3.53M |
| Net income | -17.22M | -10.07M | -4.78M | -4.76M | -3.53M |
| Selling general administrative | 5.86M | 4.12M | 1.76M | 1.32M | 1.07M |
| Selling and marketing expenses | 3.20M | 1.92M | 1.11M | 1.02M | 0.61M |
| Gross profit | 1.45M | 2.19M | 2.66M | 0.58M | 0.45M |
| Reconciled depreciation | 0.25M | 0.13M | 0.86M | 0.54M | 0.12M |
| Ebit | -16.74M | -9.72M | -4.36M | -4.61M | -3.45M |
| Ebitda | -16.49M | -9.60M | -4.34M | -4.63M | -3.42M |
| Depreciation and amortization | 0.25M | 0.13M | 0.02M | -0.02M | 0.03M |
| Operating income | -16.74M | -9.72M | -4.36M | -4.61M | -3.17M |
| Other operating expenses | 19.82M | 13.86M | 8.45M | 6.27M | 4.24M |
| Interest expense | 0.24M | 0.17M | 0.03M | 0.02M | 0.06M |
| Interest income | - | - | 0.01M | - | 0.00M |
| Net interest income | -0.24M | -0.17M | -0.88M | -0.70M | -1.30M |
| Income tax expense | 0.24M | 0.17M | 0.09M | -0.01M | -1.13M |
| Total revenue | 3.08M | 4.14M | 4.08M | 1.66M | 1.07M |
| Total operating expenses | 18.18M | 11.92M | 7.02M | 5.19M | 3.62M |
| Cost of revenue | 1.64M | 1.94M | 1.43M | 1.08M | 0.62M |
| Total other income expense net | -0.24M | -0.17M | -0.33M | -0.17M | -1.37M |
| Net income from continuing ops | -16.98M | -9.89M | -15.08M | -16.53M | -13.31M |
| Net income applicable to common shares | -16.98M | -9.89M | -15.08M | -16.53M | -13.31M |
| Breakdown | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Total assets | 16.41M | 30.19M | 32.28M | 10.34M | 7.32M |
| Other current assets | 0.62M | 1.54M | 1.98M | 16.19M | 1.40M |
| Total liab | 4.25M | 4.77M | 5.32M | 5.75M | 4.69M |
| Total stockholder equity | 12.16M | 25.42M | 26.96M | 4.58M | 2.63M |
| Other current liab | 2.96M | 2.81M | 2.03M | 3.05M | 3.07M |
| Common stock | - | - | - | 5.03M | 3.47M |
| Capital stock | 0.00M | 0.00M | 0.00M | 5.03M | 3.47M |
| Retained earnings | -90.06M | -75.41M | -58.43M | -56.97M | -48.54M |
| Other liab | - | - | 0.62M | 5.65M | 3.30M |
| Other assets | - | 0.03M | 0.33M | 0.12M | 0.14M |
| Cash | 10.53M | 23.66M | 25.62M | 3.50M | 5.78M |
| Total current liabilities | 3.87M | 4.34M | 4.02M | 3.91M | 3.63M |
| Current deferred revenue | 0.19M | 0.65M | 0.88M | - | - |
| Net debt | -9.93M | -23.06M | -24.71M | -3.20M | -5.53M |
| Short term debt | 0.22M | 0.17M | 0.22M | 0.21M | 0.13M |
| Short long term debt total | 0.60M | 0.60M | 0.91M | 0.30M | 0.25M |
| Other stockholder equity | 102.22M | 100.83M | 85.39M | 56.52M | 47.70M |
| Property plant equipment | - | 2.02M | 1.63M | 2.00M | 1.31M |
| Total current assets | 14.18M | 28.13M | 30.32M | 9.68M | 6.90M |
| Net tangible assets | - | 25.42M | 26.96M | 14.74M | 9.09M |
| Short term investments | 0.53M | - | - | - | - |
| Net receivables | 0.23M | 1.32M | 0.77M | 0.88M | 0.36M |
| Inventory | 2.27M | 2.86M | 1.96M | 1.14M | 0.72M |
| Accounts payable | 0.50M | 0.71M | 0.88M | 0.64M | 0.43M |
| Non currrent assets other | 0.03M | 0.03M | 0.33M | 0.04M | 0.04M |
| Non current assets total | 2.23M | 2.06M | 1.96M | 0.66M | 0.42M |
| Capital lease obligations | 0.60M | 0.60M | 0.91M | 0.97M | 0.85M |
| Breakdown | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Investments | -0.89M | 4.62M | -15.00M | -15.00M | -15.00M |
| Change to liabilities | -0.17M | 0.24M | 0.34M | 7.90M | 1.70M |
| Total cashflows from investing activities | -0.89M | 3.79M | -15.81M | -0.35M | -0.24M |
| Net borrowings | - | - | -0.55M | -0.36M | -3.49M |
| Total cash from financing activities | 13.58M | 30.89M | 5.95M | 3.06M | 5.98M |
| Change to operating activities | 0.91M | -2.14M | 1.52M | 0.41M | 0.35M |
| Net income | -16.98M | -9.89M | -4.69M | -4.77M | -3.53M |
| Change in cash | -1.96M | 22.12M | -2.72M | 1.22M | 2.85M |
| Begin period cash flow | 25.62M | 3.50M | 6.22M | 4.56M | 1.34M |
| End period cash flow | 23.66M | 25.62M | 3.50M | 5.78M | 4.19M |
| Total cash from operating activities | -14.29M | -12.61M | -3.72M | -1.74M | -3.06M |
| Issuance of capital stock | 13.57M | 30.55M | 6.20M | 3.37M | 6.91M |
| Depreciation | 0.25M | 0.13M | 0.27M | 0.16M | 0.03M |
| Other cashflows from investing activities | - | -0.30M | -0.05M | -0.05M | -0.05M |
| Change to inventory | -0.90M | -0.89M | -0.37M | -0.01M | -0.38M |
| Change to account receivables | 0.38M | -0.36M | -0.24M | 0.62M | -0.60M |
| Other cashflows from financing activities | 0.00M | 0.34M | -0.08M | -0.31M | -0.93M |
| Change to netincome | - | 0.32M | 1.85M | 1.06M | 1.39M |
| Capital expenditures | 0.89M | 0.53M | 0.24M | 0.10M | 0.06M |
| Change in working capital | 0.21M | -3.16M | 0.13M | 2.57M | 0.01M |
| Stock based compensation | 1.86M | 0.32M | 0.23M | 0.36M | 0.21M |
| Other non cash items | 0.36M | 0.01M | 0.31M | -0.06M | 0.21M |
| Free cash flow | -15.18M | -13.14M | -3.96M | -1.84M | -3.13M |
Sector: Healthcare Industry: Medical Devices
|
Stock Name
|
Change
(USD) |
Price
(USD) |
Trailing
PE (x) |
Forward
PE (x) |
Price Sales
TTM (x) |
Price to Book Value (x)
|
Enterprise Value
to Revenue (x) |
Enterprise Value
to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| ICCM Icecure Medical |
0.14 20.46% |
0.82 | - | - | 17.70 | 4.70 | 14.46 | -3.06 |
| ABT Abbott Laboratories |
-0.36 0.33% |
109.56 | 25.97 | 17.24 | 3.57 | 3.20 | 3.81 | 16.75 |
| MDT Medtronic PLC |
-0.14 0.14% |
101.66 | 26.60 | 15.87 | 3.35 | 2.08 | 3.90 | 14.12 |
| SYK Stryker Corporation |
-0.84 0.26% |
325.03 | 29.23 | 16.86 | 4.18 | 4.51 | 4.63 | 17.16 |
| SEMHF Siemens Healthineers AG |
0.56 1.12% |
50.41 | 39.57 | 21.32 | 3.01 | 3.29 | 2.95 | 16.92 |
IceCure Medical Ltd, a commercial stage medical device company, engages in the research, development, and marketing of cryoablation systems, disposables, and technologies for treating tumors. The company offers ProSense system, a single probe system for the treatment of tumors, as well as associated disposables; and IceSense3 system for ablation indications to urology, oncology, dermatology, gynecology, general surgery, thoracic surgery, and proctology. It also develops XSense system, a single probe system; and MultiSense, a multi probe system for the treatment of multiple and larger tumors. The company was incorporated in 2006 and is headquartered in Caesarea, Israel.
| Name | Title | Year Born |
|---|---|---|
| Mr. Eyal Shamir | CEO & Director | 1961 |
| Mr. Ronen Tsimerman CPA | CFO & COO | 1969 |
| Ms. Tlalit Bussi Tel-Tzure | VP of Bus. Devel. & Global Marketing | 1971 |
| Ms. Merav Nir Dotan | VP of HR | 1969 |
| Mr. Naum Muchnik | VP of Research, Devel. & Engineering | 1976 |
| Mr. Shay Levav | VP of Regulatory and Quality Assurance & Clinical Applications | 1977 |
| Ms. Tlalit Bussi Tel-Tzure | Vice President of Business Development & Global Marketing | 1971 |
| Ms. Merav Nir Dotan | Vice President of Human Resources | 1969 |
| Ms. Galit Malik | Vice President of Operations & Service | 1973 |
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