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    ICAD Inc (ICAD)

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    iCAD, Inc. is a global medical technology company specializing in innovative solutions for cancer detection. The company develops and markets AI-powered technologies designed to enhance early cancer detection and improve patient outcomes. Its flagship offerings include advanced imaging analysis tools and a comprehensive breast health suite that integrates detection, density assessment, risk evaluation, and cardiovascular risk insights.

    1. Detection Solutions - Provides AI-powered tools for analyzing 2D and 3D mammograms, enabling healthcare professionals to identify suspicious areas and improve early cancer detection accuracy.

      • Breast Density Assessment - Standardizes and simplifies breast density reporting for clinicians.
      • Risk Evaluation - Offers near-term probabilities (1-2 years) for developing breast cancer, aiding in actionable clinical decisions.
      • Cardiovascular Risk Assessment - Identifies breast arterial calcifications to assess cardiovascular health risks.
    2. Therapy Solutions - Previously offered the Xoft System, an isotope-free cancer treatment platform for various cancers, including early-stage breast cancer and nonmelanoma skin cancer. This segment was sold in October 2023 to focus exclusively on detection technologies.

    NamePositionStart DateShort Bio
    Dana BrownChief Executive Officer, President, and Chair of the BoardMarch 10, 2023 (CEO & President), January 2023 (Chair)Dana Brown has served as CEO and President of iCAD since March 10, 2023, Chair of the Board since January 2023, and Director since January 2022. She previously held leadership roles at Susan G. Komen, United Way Worldwide, MetaSolv Software, and Ipsum Networks. She holds a BS in Computer Science and Accounting from Southwest Baptist University.
    Eric LonnqvistChief Financial OfficerApril 17, 2023Eric Lonnqvist became CFO of iCAD on April 17, 2023. He has over 15 years of finance experience in the medical device and technology industries. Previously, he was iCAD's VP of Financial Planning and Analysis (February 2021–April 2023) and held roles at NetBrain Technologies, TripAdvisor, and Oracle. He holds a Bachelor’s and an MBA.
    Jonathan GoChief Technology OfficerFebruary 2019Jonathan Go has served as CTO of iCAD since February 2019. He has over 25 years of software development experience in the medical industry, including roles as VP of Engineering at Merge eMed and Director of Engineering at Cedara Software. He holds a BS in Electrical Engineering and an MS in Electrical and Biomedical Engineering from the University of Michigan.
    1. Given that GE remains 100% perpetual for new deals and significantly contributes to your perpetual revenue, how do you plan to manage the shift to subscription and cloud models without impacting your revenue streams from GE?

    2. As you intentionally sacrifice immediate recognition of GAAP revenue and cash flow during the transition to cloud, how will you address potential concerns from investors regarding short-term revenue flattening or declines?

    3. Despite mentioning that the new FDA mandate on breast density reporting may not significantly drive additional sales of your density solution, how do you plan to leverage this regulatory change to enhance adoption of your full product suite?

    4. With the recent FDA clearance of ProFound Detection version 4.0, what obstacles might delay its full deployment to new and existing customers, and how do you plan to overcome them?

    5. As your cash and cash equivalents decreased from $21.7 million to $18.8 million over nine months, and given your ongoing investments in R&D and the shift to cloud, how confident are you in not needing additional funding to support your operations?