Artificial Intelligence
iCAD Announces Estimated Q1 Revenues and Upcoming CFO Transition
Company expects preliminary estimated revenues to exceed $8.1 million
Successor CFO search underway
NASHUA, N.H., April 05, 2021 (GLOBE NEWSWIRE) — iCAD, Inc. (NASDAQ: ICAD), a global medical technology leader providing innovative cancer detection and therapy solutions, reported select preliminary, unaudited financial results for the first quarter of 2021. Based on preliminary, unaudited financial information, the Company expects total revenue for the first quarter of 2021 to exceed $8.1 million. Unaudited cash and cash equivalents as of March 31, 2021 were approximately $46.9 million, which includes proceeds of the public offering closed in March 2021 that generated gross proceeds of approximately $25.0 million.
“For the first quarter of 2021, anticipated final revenue numbers represent significant growth, compared to the first quarter of 2020,” according to Michael Klein, iCAD’s Chairman and CEO. “Our strong results were driven by growth in both AI Detection revenue, due to continued market penetration for ProFound AI® and ProFound AI® Risk, and Xoft® Therapy revenues.”
iCAD also today announced that its Chief Financial Officer (CFO), R. Scott Areglado, will be leaving the Company in early May to accept a position with another company. An interim CFO will be appointed shortly to serve until such time as a permanent successor to Mr. Areglado is in place. The search and selection process for a successor to Mr. Areglado is already underway.
“Scott has been a valued member of the iCAD team for 10 years, having served as CFO for the last two years. During his tenure as CFO, Scott played an instrumental role in helping accelerate revenue growth and strengthening our competitive position. We wish Scott well in his future endeavors,” Mr. Klein continued. “Both our current VP of Finance and Controller will assume expanded responsibilities during this period of transition.”
“It has been exciting to be a part of the successful growth of iCAD and the expansion of our products and markets,” said Mr. Areglado. “I am proud to have worked with such a talented team with a track record of delivering on strategic and financial objectives.”
iCAD’s consolidated financial statements for the three months ended March 31, 2020 are not yet available. The preliminary estimated financial information included in this press release for the three months ended March 31, 2021 is based solely on management’s estimates reflecting currently available preliminary information, and remains subject to iCAD’s consideration of subsequent events, particularly as it relates to material estimates and assumptions used in preparing our consolidated financial statements for the three months ended March 31, 2021. iCAD’s final consolidated financial results as of and for the three months ended March 31, 2021 may materially differ from estimates and the interim balances set forth in this release. Furthermore, the information presented herein does not present all information necessary for an understanding of the Company’s first quarter of 2021.
About iCAD, Inc.
Headquartered in Nashua, NH, iCAD is a global medical technology leader providing innovative cancer detection and therapy solutions.
ProFound AI™ is a high-performing workflow solution for 2D and 3D mammography, or digital breast tomosynthesis (DBT), featuring the latest in deep-learning artificial intelligence. In 2018, ProFound AI for DBT became the first artificial intelligence (AI) software for DBT to be FDA-cleared; it was also CE marked and Health Canada licensed that same year. It offers clinically proven time-savings benefits to radiologists, including a reduction of reading time by 52.7 percent, thereby halving the amount of time it takes radiologists to read 3D mammography datasets. Additionally, ProFound AI for DBT improved radiologist sensitivity by 8 percent and reduced unnecessary patient recall rates by 7.2 percent.
The Xoft System is FDA-cleared, CE marked and licensed in a growing number of countries for the treatment of cancer anywhere in the body. It uses a proprietary miniaturized x-ray source to deliver a precise, concentrated dose of radiation directly to the tumor site, while minimizing risk of damage to healthy tissue in nearby areas of the body.
For more information, visit www.icadmed.com and www.xoftinc.com.
Forward-Looking Statements
Certain statements contained in this release constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements about the future prospects for the Company’s technology platforms and products, and statements about the preliminary revenue results of the Company for the three months ended March 31, 2021, which preliminary results are based solely on management’s estimates reflecting currently available information. Such forward-looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, but are not limited to, the Company’s consideration of subsequent events (particularly those related to material estimates and assumptions used in preparing the Company’s consolidated financial statements), the Company’s ability to achieve its business and strategic objectives, IORT’s ability to alleviate the burden to our health system and minimize a patient’s potential exposure to COVID-19, IORT’s benefits for patients which exceed the benefits of traditional therapy or acceptance of IORT by patients or clinicians, the impact of supply and manufacturing constraints or difficulties, uncertainty of future sales levels, the Company’s need to engage in or defend legal actions to protect its patents and other proprietary rights, the impact of supply and manufacturing constraints or difficulties, product market acceptance, possible technological obsolescence of products, increased competition, litigation and/or government regulation, changes in Medicare or other reimbursement policies, risks relating to our existing and future debt obligations, competitive factors, the effects of a decline in the economy or markets served by the Company, and other risks detailed in the Company’s filings with the Securities and Exchange Commission. The words “believe,” “demonstrate,” “intend,” “expect,” “estimate,” “will,” “continue,” “anticipate,” “likely,” “seek,” and similar expressions identify forward-looking statements. Readers are cautioned not to place undue reliance on those forward-looking statements, which speak only as of the date the statement was made. The Company is under no obligation to provide any updates to any information contained in this release. For additional disclosure regarding these and other risks faced by iCAD, please see the disclosure contained in our public filings with the Securities and Exchange Commission, available on the Investors section of our website at http://www.icadmed.com and on the SEC’s website at http://www.sec.gov.
Contacts:
Media inquiries:
Jessica Burns, iCAD
+1-201-423-4492
[email protected]
Investor Relations:
Jeremy Feffer, LifeSci Advisors
+1-212-915-2568
[email protected]
Artificial Intelligence
Aetina Accelerates Embedded AI with High-performance, Small Form-factor Aetina IA380E-QUFL Graphics Card
TAIPEI, April 25, 2024 /PRNewswire/ — Aetina, a leading Edge AI solution provider, announced the launch of the Aetina IA380E-QUFL at Embedded World 2024 in Nuremberg, Germany. This groundbreaking product is a small form factor PCIe graphics card powered by the high-performance Intel Arc A380E GPU.
Unmatched Power in a Compact Design
The Aetina IA380E-QUFL delivers workstation-level performance packed into a low-profile, single-slot form factor. This innovative solution consumes only 50W, making it ideal for space and power-constrained edge computing environments. Embedded system manufacturers and integrators can leverage the power of 4.096 TFLOPs peak FP32 performance delivered by the Intel Arc A380E GPU[1].
Beyond Small Size: Big Capabilities
Despite its compact size, the IA380E-QUFL offers native support for 4 mini-DisplayPort outputs and 6GB of GDDR6 memory, enabling the connection of multiple high-resolution displays (UHD). This makes the IA380E-QUFL an excellent choice for a wide range of applications, including commercial gaming, video walls, medical imaging, and visual inference for smart cities.
“The demand for slim and energy-efficient AI systems is rapidly escalating,” said Jackal Chen, Senior Product Manager at Aetina. “The Aetina IA380E-QUFL addresses this need head-on, offering a powerful GPU solution in a compact, single-slot form factor with minimal power consumption. This empowers developers to create powerful and efficient edge systems for a wide range of applications.”.
Unparalleled Commitment: 5-Year Product Supply
Acknowledging the critical need for long-term product stability in industrial applications, Aetina ensures a 5-year product supply for the Aetina IA380E-QUFL, which streamlines system roadmaps and reduces the need for costly redesign. Our commitment is aligned with Intel’s announced product plans for the Intel Arc A380E GPU.[1]
[1]https://www.intel.com/content/www/us/en/content-details/820389/intel-arc-gpu-for-the-edge-public-30-3-30.html?wapkw=Intel%20Arc%20GPU%2030-3-30&DocID=820389 Intel, the Intel logo, and other Intel marks are trademarks of Intel Corporation or its subsidiaries.
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Meta description : Explore IG Canada’s advanced trading platform, educational resources, and robust security features. Achieve your trading goals with the innovative tools.
NOTTINGHAM, England, April 25, 2024 /PRNewswire/ — IG Canada, a premier online trading platform, is pleased to announce significant enhancements to its trading technology, designed to empower both novice and experienced traders with superior tools and resources. This development is part of IG Canada’s commitment to providing the best trading experience in the Canadian market.
IG Canada has upgraded its platform with advanced features that streamline trading processes and improve the accuracy of trade execution. These enhancements include customizable charts, a wider range of indicators, and improved mobile access, ensuring traders can operate efficiently from anywhere at any time.
Recognizing the importance of education in trading success, IG Canada has expanded its educational resources. The brokerage now offers a comprehensive learning center featuring webinars, tutorials, and articles that cater to various skill levels. These resources are designed to help traders develop robust trading strategies and improve their market knowledge.
Security remains a top priority for IG Canada. The latest updates include enhanced encryption and multi-factor authentication to protect client data and funds. These security measures provide peace of mind for traders, knowing their investments are safeguarded against potential threats.
IG Canada is a leading online brokerage that provides trading services across multiple asset classes, including forex, stocks, commodities, and indices. With a focus on innovation and customer service, IG Canada is committed to helping Canadian traders achieve their investment goals through a transparent and efficient trading environment.
In addition, IG Canada is committed to engaging with the community through upcoming webinars, live events, and partnerships with local financial experts. These initiatives are designed not only to support the growth and education of the clients but also to foster a stronger, more connected trading community in Canada.
Press Contact:Contact Name: Timothy C. SherwinEmail: [email protected] Phone: +447 441425053
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Artificial Intelligence
Sentrycs Now Part of the UK National Protective Security Authority Catalog of Security Equipment
This inclusion into the NPSA CSE marks a significant milestone in the company’s commitment to enhancing national and international airspace security and to leading the C-UAS market toward multi-layer strategy optimization and excellence.
TEL-AVIV, Israel, April 25, 2024 /PRNewswire/ — Sentrycs, a leading innovator in adaptive counter-drone solutions, is proud to announce its inclusion in the prestigious UK National Protective Security Authority Catalogue of Security Equipment (NPSA CSE).
Following a rigorous assessment process, Sentrycs’ cutting-edge Counter Unmanned Aerial Systems (C-UAS) solution has met the high standards set by the NPSA for Detection, Tracking, and Identification (DTI). The testing, conducted at the NPSA’s designated testing facilities in August 2023, rigorously evaluated the Sentrycs system against the NPSA’s DTI Testing and Evaluation Standard v3.1.
Sentrycs elected to be assessed under Configuration D as a 3D system with Ground Control Station (GCS) detection capability and platform identification capability, which is the most demanding test scenario with the highest number of scored parameters.
The Sentrycs system demonstrated exceptional capabilities in various security scenarios, showcasing its robustness in detecting and tracking with high accuracy and zero false alarms. The system’s innovative use of cyber techniques to extract data from targets and its streamlined human-machine interface were especially noted for their efficiency and ease of use.
“Our team is proud to have Sentrycs recognized by the UK National Protective Security Authority,” said Yoav Zaltzman, CEO of Sentrycs. “Being listed in the CSE is not just an honor; it’s a testament to our technology’s reliability and effectiveness in contributing to the ever-changing airspace security landscape.”
Sentrycs’ technology is now accessible through the NPSA CSE, providing security practitioners with verified solutions that meet the UK’s rigorous security standards. This inclusion not only underscores Sentrycs’ role in advancing security technology but also enhances its visibility and credibility on a global stage.
For more details on Sentrycs’ solutions and their impact, visit www.sentrycs.com.
For further information regarding the NPSA and the Catalog of Security Equipment, please visit the NPSA’s official website.
About Sentrycs
Sentrycs is a leader in adaptive counter-drone solutions, supported by innovative technology designed to passively identify, mitigate, and where necessary, intercept unauthorized drones custom-built for various environments – including airports, borders, prisons, critical infrastructure, and mass events. Founded in 2017, Sentrycs’ has offices in Israel and the US, serving customers worldwide. By uniting its field-proven technology and expertise in global drone environments, Sentrycs is leading the way towards a safer and more secure drone-driven future. Learn more at www.sentrycs.com
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