A 32% revenue increase from its therapy operations helped computer-aided detection (CAD) and radiation therapy firm iCAD to a 7.4% increase in revenue and a smaller net loss for the first quarter of 2014.
For the period (end-March 31), iCAD had revenue of $8.5 million, up from $7.4 million a year ago. The growth in therapy revenue was partially offset by a 10% decline in cancer detection revenue, according to the firm. Total recurring revenue for its therapy and cancer detection businesses was up 39% compared with the first quarter of 2013, the company said.
iCAD had a first-quarter net loss of $190,000, compared with a net loss of $727,000 in the same period last year.
