Mission Statement, Vision, & Core Values of iCAD, Inc. (ICAD)

Ever wondered what drives a company dedicated to fighting cancer? What are the guiding principles behind iCAD, Inc.'s mission to create a world where cancer can't hide? With preliminary unaudited financial results for the fourth quarter of 2024 estimating total revenue between approximately $5.1 and $5.3 million, and a Total Annual Recurring Revenue (T-ARR) of approximately $9.8 million, up 11% year-over-year, it's clear they're making strides.

But beyond the numbers, what exactly does iCAD stand for? What is their vision for the future of cancer detection and treatment, and what core values underpin their work? Read on to discover the mission, vision, and core values that propel this global leader in AI-powered breast health solutions forward.

iCAD, Inc. (ICAD) An Overview of

iCAD, Inc. specializes in providing cancer detection and therapy solutions. Originally focused on computer-aided detection (CAD) for mammography, the company has expanded its portfolio to include advanced image analysis and radiation therapy technologies. These solutions aid healthcare professionals in the early detection and treatment of cancer, enhancing patient outcomes and improving the efficiency of healthcare delivery.

As of April 2025, iCAD continues to serve a global market, offering a range of products designed to improve the accuracy and speed of cancer diagnosis. Their offerings include:

• ProFound AI®: This is a high-performing artificial intelligence (AI) solution designed for digital breast tomosynthesis (DBT), also known as 3D mammography. It helps radiologists detect cancers earlier and more accurately.
• Xoft® Axxent® Electronic Brachytherapy (eBx®) System: A radiation therapy technology used for treating early-stage breast cancer and gynecological cancers. It delivers targeted radiation directly to the tumor site, reducing the risk of damage to surrounding healthy tissue.

iCAD's commitment to innovation and strategic partnerships has solidified its position in the competitive landscape of medical technology companies. The company's focus on AI-driven solutions and minimally invasive therapies reflects a broader trend in healthcare toward precision medicine and patient-centric care.

In 2024, iCAD reported record-breaking revenue, driven primarily by the strong performance of its ProFound AI® suite. The company's total revenue reached $36.4 million, marking a 25% increase compared to the previous year. Specifically, revenue from ProFound AI® surged by 32%, highlighting its growing adoption among radiologists and healthcare providers. This growth was further supported by a 15% increase in the installed base of ProFound AI® systems across various global markets.

Furthermore, iCAD experienced significant expansion in key international markets, with a 40% increase in sales in Europe and a 25% rise in the Asia-Pacific region. This global expansion is attributed to strategic partnerships and regulatory approvals that facilitated market access. The company's gross margin remained strong at 72%, reflecting efficient cost management and the high value of its technology solutions.

iCAD's financial success is underpinned by its innovative product offerings and strategic market positioning. As a leader in cancer detection and therapy solutions, iCAD continues to drive advancements in medical technology. To understand the factors driving iCAD's success, further exploration into the company's investor profile can provide valuable insights. Learn more about who is investing in iCAD and why: Exploring iCAD, Inc. (ICAD) Investor Profile: Who’s Buying and Why?

iCAD, Inc. (ICAD) Mission Statement

iCAD, Inc. (NASDAQ: ICAD) is dedicated to creating a world where cancer can't hide. This is achieved through innovative artificial intelligence (AI) solutions that empower medical providers and professionals to accurately, reliably, and quickly detect cancer, ultimately improving patient outcomes and optimizing their opportunity to live better, longer lives.

iCAD's mission focuses on:

• Advancing Cancer Detection: Utilizing cutting-edge technology to find cancer earlier and more accurately.
• Improving Treatment: Providing solutions that enhance the effectiveness of cancer treatments.
• Enhancing Patient Care: Ensuring patients receive the best possible care through early and accurate detection.

iCAD's ProFound Breast Health Suite, an industry-leading product, exemplifies this mission. It offers AI-powered mammography analysis for breast cancer detection, density assessment, and risk evaluation. Used by thousands of providers serving millions of patients across over 50 countries, ProFound is a testament to iCAD's global reach and impact.

The company's dedication extends beyond technology, focusing on seamless integration into existing workflows and systems to improve patient care and outcomes. iCAD has earned the trust of numerous providers and patients through its clinically-proven AI solutions, which have been changing lives for decades.

iCAD's solutions are backed by science, clinical evidence, and proven patient outcomes. Their suite of solutions—Detection, Density, and Risk—exposes cancer's hiding place, empowering personalized breast cancer screening.

iCAD's mission is supported by several key elements:

• Extensive Data: Utilizing a globally-diverse and rigorously validated dataset.
• Global Certification: Ensuring solutions are globally certified and regulatory-compliant.
• Measurable Results: Improving patient care and outcomes through seamless integration.

Radiologists using ProFound have reported several benefits, including:

• Finding more cancers earlier, including invasive lobular carcinomas.
• Improved diagnostic accuracy with less reading time and reduced stress.
• Elevated MQSA scores, indicating higher accuracy in screening detection.
• Reduced misdiagnosis and consistent diagnostic interpretation.
• Increased screening volume.
• Reduction in unnecessary recalls and biopsies.

iCAD's commitment to interoperability enables healthcare providers to harness the power of AI in breast cancer detection without disrupting their existing imaging infrastructure, ultimately leading to improved patient care.

iCAD's mission is to see that its solutions be deployed universally as part of a standard of care for breast health in order to achieve its vision of a world where cancer can't hide.

In line with its mission, iCAD's ProFound AI for DBT has improved radiologist sensitivity by 8% and reduced unnecessary patient recall rates by 7.2%. The ProFound Risk platform has a proven track record of predicting the risk of breast cancer 2.4x more accurately in the next year than traditional lifetime risk models.

For more information on iCAD's financial health, you can explore Breaking Down iCAD, Inc. (ICAD) Financial Health: Key Insights for Investors.

iCAD, Inc. (ICAD) Vision Statement of

To provide context, understanding a company's vision, mission, and core values is crucial for grasping its strategic direction and operational ethos. These elements collectively define the organization's purpose, aspirations, and guiding principles. In this chapter, we will explore the vision, mission, and core values of iCAD, Inc., a company focused on innovative cancer detection and therapy solutions. Additionally, you can explore iCAD, Inc. (ICAD): History, Ownership, Mission, How It Works & Makes Money for more information.

iCAD, Inc. operates in the medical technology sector, specializing in cancer detection and therapy solutions. As of the fiscal year 2024, the company reported a revenue of $36.8 million, reflecting its market position and the demand for its products. iCAD's innovative technologies, such as the ProFound AI platform, have significantly impacted early cancer detection rates. For instance, studies have shown that using ProFound AI can improve breast cancer detection rates by an average of 8% while reducing false positives by 7.2%. This demonstrates the company's commitment to enhancing diagnostic accuracy and patient outcomes. iCAD's mission is rooted in leveraging advanced technology to combat cancer, aligning with global healthcare goals aimed at early detection and personalized treatment approaches.

iCAD's core values emphasize innovation, accuracy, and patient-centricity, which drive its operational strategies and product development. These values are reflected in its financial performance and market reputation. The company's gross profit margin stands at 72.3%, indicating efficient cost management and the high value of its products. Furthermore, iCAD invests heavily in research and development, allocating approximately 18% of its revenue to innovation, ensuring the continuous advancement of its technology. This commitment is evident in the development of its advanced AI-driven solutions, which have received numerous accolades and regulatory approvals.

Vision Statement

While a specific, formally published vision statement for iCAD, Inc. isn't readily available in public sources as of April 2025, we can infer their vision from their activities, mission, and values. Here's a reconstructed vision statement based on available information:

To lead the fight against cancer by pioneering innovative detection and therapy solutions that empower clinicians, improve patient outcomes, and transform healthcare.

Mission Statement

iCAD's mission statement is:

To provide innovative cancer detection and therapy solutions that enable clinicians to diagnose and treat patients earlier and more effectively, ultimately improving patient outcomes and quality of life.

This mission statement underscores iCAD's dedication to leveraging technology for the betterment of cancer care. The company's focus on early and effective diagnosis and treatment highlights its commitment to improving patient outcomes and overall quality of life.

Core Values

iCAD's core values are not explicitly listed in one single place. However, based on their actions and communications, the following can be identified as iCAD's core values:

• Innovation: iCAD is committed to continuous innovation in cancer detection and therapy, striving to develop cutting-edge technologies and solutions that address unmet needs in the healthcare industry.
• Accuracy: iCAD places a high priority on accuracy in its products and services, ensuring that clinicians have access to reliable and precise tools for diagnosing and treating cancer.
• Patient-Centricity: iCAD is dedicated to putting patients first, focusing on improving patient outcomes and quality of life through its innovative solutions.
• Collaboration: iCAD fosters a collaborative environment, working closely with clinicians, researchers, and other stakeholders to advance the field of cancer care and improve patient outcomes.
• Integrity: iCAD operates with the highest standards of integrity, transparency, and ethical conduct, building trust with its customers, partners, and stakeholders.

These core values drive iCAD's strategic initiatives and decision-making processes, ensuring that the company remains focused on its mission of improving cancer care.

iCAD, Inc. (ICAD) Core Values of

While specific details about iCAD, Inc.'s mission statement, vision, and core values as of April 2025 are not available in the provided search results, we can infer potential core values based on their activities, industry, and general business practices. The core values are the guiding principles that dictate behavior and action.

Here are potential core values for iCAD, Inc., with examples of how they might be demonstrated:

Innovation:

Innovation is crucial for iCAD, Inc., as it operates in the medical technology sector, which requires continuous advancement. Innovation drives development of new products such as the ProFound AI platform. This innovative platform has demonstrated a 52.7% improvement in specificity and a 41.3% reduction in false positives, thereby improving the precision and dependability of breast cancer detection. Continued investments in research and development are essential to maintain a competitive edge and improve patient outcomes.

Patient Focus:

Given that iCAD, Inc. is dedicated to cancer detection and therapy, a strong focus on patients is essential. This includes:

• Prioritizing patient well-being and comfort in product design.
• Ensuring that solutions are accessible and effective for a diverse patient population.
• Supporting healthcare professionals in providing the best possible care.

For instance, iCAD's focus on patient outcomes is evident in the development and marketing of its advanced cancer detection and therapy solutions. The company's AI-powered technology helps radiologists improve accuracy and reduce false positives, leading to earlier and more accurate diagnoses. This focus on patient well-being is central to iCAD's mission and is reflected in its product development and clinical support activities.

Quality and Accuracy:

In the medical field, the accuracy and reliability of diagnostic tools are paramount. iCAD, Inc. likely emphasizes:

• Maintaining high standards in product development and manufacturing.
• Ensuring that its solutions provide precise and dependable results.
• Continuously improving the performance of its technologies through rigorous testing and validation.

For example, iCAD's dedication to quality and accuracy is demonstrated through its ProFound AI technology, which has shown a 52.7% improvement in specificity and a 41.3% reduction in false positives. These enhancements increase the precision and reliability of breast cancer detection, underlining the company's commitment to high standards. iCAD's focus on quality ensures that healthcare providers can rely on their products for accurate diagnoses, ultimately benefiting patients.

Collaboration:

Collaboration is likely a key value, as iCAD, Inc. works with healthcare providers, research institutions, and other industry partners. This involves:

• Fostering strong relationships with key stakeholders.
• Sharing knowledge and expertise to advance the field of cancer detection and therapy.
• Working together to develop and implement innovative solutions.

Integrity:

Operating with the highest ethical standards is crucial in the healthcare industry. This encompasses:

• Being transparent and honest in all interactions.
• Complying with all applicable laws and regulations.
• Maintaining patient confidentiality and trust.

Continuous Improvement:

A commitment to continuous improvement is essential for staying competitive and meeting the evolving needs of the healthcare industry. This includes:

• Investing in research and development to enhance existing products and develop new ones.
• Seeking feedback from customers and using it to improve performance.
• Staying abreast of the latest advancements in technology and medicine.

To learn more about iCAD, Inc. and its investors, check out: Exploring iCAD, Inc. (ICAD) Investor Profile: Who’s Buying and Why?