IceCure Medical sees FY23 ProSense sales up 26% globally

The company said, “Based on our expected preliminary unaudited 2023 results, ProSense system and disposable probe sales increased by 26% globally over 2022. Product sales in the U.S. were up 25% in 2023 over 2022 levels. On a preliminary unaudited basis, total revenues increased for the financial year ended December 31, 2023 to $3.2 million, as compared to $3.1 million in 2022. An increase in system and probe sales was partially offset by a decrease in revenue recognition from our distribution agreement with Terumo Corporation. On a preliminary unaudited basis, as of December 31, 2023, we had cash and cash equivalents, including short-term deposits, of $11 million. During the fourth quarter of 2023 we implemented an expense reduction plan to reduce our non-revenue generating and clinical development costs, lowering monthly cash utilization, to help ensure that we meet our primary goals in 2024.” CEO Eyal Shamir noted, “2023 was a year of strong growth for IceCure. Cryoablation became increasingly recognized as a highly favorable minimally invasive alternative to open surgery and ProSense achieved an expanded global rollout with regulatory clearances received in significantly large markets such as Brazil, Canada, and China. Furthermore, the trend toward performing cryoablation procedures is increasing amongst breast surgeons and breast radiologists. We believe that the growing abundance of peer-reviewed journals publishing ProSense and cryoablation studies will have a direct and favorable impact on IceCure as we continue to expand our global distribution footprint. We are very optimistic about 2024 and believe it will be a pivotal year marked by the completion of our ICE3 breast cancer study and continued penetration in the U.S. and global markets.”