IceCure Medical Ltd. received a Nasdaq minimum bid‑price notice on November 14, 2025, after the exchange determined the company’s closing bid price had fallen below $1.00 for 30 consecutive business days. Under Nasdaq Listing Rule 5550(a)(2), the company must raise its closing bid price to at least $1.00 for ten consecutive business days within 180 calendar days, giving it a compliance deadline of May 11, 2026. The notice does not immediately affect the company’s listing or trading, but it signals a liquidity risk that could lead to delisting if the bid price remains deficient.
The notice was triggered by a closing bid price of $0.7128 on November 14, 2025, the lowest level since the company’s last compliance event in January 2025. IceCure had previously regained compliance in January after a July 2024 notice, illustrating a recurring pattern of bid‑price volatility that reflects underlying financial weakness and market perception of the company’s valuation.
Financial results for the second quarter of 2025 show revenue of $0.66 million, down 7% from $0.725 million in Q1 and 27% below analyst estimates of $0.90 million. Gross profit for the quarter was $349,000, a 56% decline from the $799,000 earned in the first half of 2024, and the gross margin contracted to 28% from 46% the previous year. The decline is largely attributable to logistics disruptions caused by the Israel‑Iran conflict, which delayed over $200,000 of product shipments and forced the company to absorb higher shipping costs. Net loss for FY 2024 widened to $15.32 million, or $0.30 per share, reflecting continued operating expenses that outpaced modest revenue growth.
CEO Eyal Shamir said the company is actively responding to the FDA’s request for additional information on its ProSense system. He remains optimistic that approval will be granted before year‑end 2025, but he cautioned that revenue growth will not accelerate until the product receives regulatory clearance. The company’s guidance for the remainder of 2025 therefore remains unchanged, underscoring management’s focus on cost discipline amid uncertain market conditions.
The recurring bid‑price deficiency underscores persistent financial challenges and signals to investors that the company may struggle to maintain a market price above $1.00 without a significant catalyst. While the FDA approval of ProSense could provide a tailwind, the current liquidity risk and declining margins suggest that the company’s ability to raise capital or attract new investors remains constrained. The EPS for Q2 2025 was $0.06, beating the consensus estimate of –$0.06 by $0.12, a 200% upside that reflects disciplined cost management in the face of revenue contraction.
The company’s financial trajectory—declining revenue, shrinking gross margins, and widening net losses—combined with the Nasdaq notice, paints a picture of a firm in a precarious position. Management’s emphasis on regulatory approval as a future growth driver is a potential upside, but the short‑term liquidity risk and recurring compliance issues may dampen investor confidence until a clear path to sustained profitability emerges.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.