iCAD reports Q1 adjusted EPS (7c), consensus (13c)
Reports Q1 revenue $6.77M, consensus $6.21M. "The first quarter represented a successful transformational period for us during which we put in place many of the initiatives that we believe will allow us to ultimately recognize the substantial growth potential from our innovative technology platform, both in Cancer Detection and Cancer Therapy," said Michael Klein, Chairman and CEO. "We have made important investments in human capital and are executing on a variety of strategies aimed at increasing market awareness, especially as it relates to ProFound AI, our latest, deep-learning, cancer detection software solution for digital breast tomosynthesis, which we recently launched in the U.S. In order to best support the ProFound AI launch, we recently completed an organizational restructure, making strategic additions throughout our company, including commercial infrastructure, marketing, business development, and medical affairs. Our goal is to be in a position to gain meaningful traction with this product in the second half of 2019."