Buoyed by its therapy business, computer-aided detection (CAD) and radiation therapy firm iCAD increased revenue and decreased its net loss in 2013 (end-December 31).
The company's revenue grew 17% to $33.1 million, compared with revenue of $28.3 million in 2012. iCAD's therapy segment increased revenue by 47% to $16.1 million, compared with $11 million in 2012. The firm's net loss improved to $7.6 million in 2013, compared with a net loss of $9.4 million in 2012.
In the fourth quarter, revenue rose 17% to $9.1 million, compared with $7.8 million for the fourth quarter of 2012. For the therapy business, revenue increased by 60% to $5 million, compared with $3.1 million in 2012's fourth quarter. The firm's net loss decreased to $4.1 million in the fourth quarter, compared with $4.7 million in the same quarter a year ago.
