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Upturn AI Summary - About
Icecure Medical(ICCM)
Advisory History & Simulated Performance *
*as per simulation (see disclosures)- ALL
- 1Y
- 1M
- 1W
- BUY Advisory
- SELL Advisory (Profit)
- SELL Advisory (Loss)
- Profit
- Loss
- PASS (Skip)
Stock price based on last close Advisory Performance History (Simulated)
Upturn Advisory & Investor View for ICCM
11/09/2026: ICCM (1-star) is currently NOT-A-BUY. Pass it for now.
IceCure Medical is a pre-profitability medical device company focused on developing liquid nitrogen-based cryoablation systems to destroy tumors in a minimally invasive manner. Its primary strength lies in its specialized technology, which allows for office-based procedures that offer potential cost and recovery benefits for patients. The company's main investment story centers on its ability to secure broader regulatory approvals and drive adoption in major global oncology markets. However, investors face risks related to intense competition from large incumbents, consistent financial losses, and the need for ongoing equity-based capital raises. The stock may best suit growth-oriented investors with a high risk tolerance who are monitoring key regulatory milestones and clinical trial outcomes.
How to Read the Upturn Advisory
The Upturn Star Rating and the current BUY, SELL, or PASS advisory are generated by Upturn’s AI advisory engine based on proprietary signal analysis, price behavior, advisory history, and historical signal performance.
Company fundamentals, valuation, risks, and news provide supporting context about the business.
Investor Fit
| Investor style | Fit | Why |
|---|---|---|
| Growth investor | Mixed fit | The company offers potential high-growth exposure to interventional oncology but carries significant execution and binary trial risks. |
| Momentum investor | Strong fit while signal remains positive | Small-cap medical device stocks can experience rapid price movements driven by clinical and regulatory news cycles. |
| Value investor | Weak fit | IceCure lacks positive earnings and sustainable cash flows required for a value-oriented strategy. |
| Dividend investor | Weak fit | The company does not pay dividends and reinvests all capital into R&D and operations. |
| Low-risk investor | Weak fit | High volatility and the potential for capital dilution make this unsuitable for low-risk portfolios. |
Risk Profile
| Risk factor | Level | Why it matters |
|---|---|---|
| Price volatility | High | Thin trading volumes and clinical news sensitivity lead to significant daily price swings. |
| Valuation risk | Medium / high | The stock price is driven by future potential rather than current financial fundamentals. |
| Competition risk (incumbent dominance) | High | Large competitors like Medtronic and Boston Scientific can outspend and out-market IceCure. |
| Business quality | Medium | The business is in an early commercial stage with limited recurring revenue streams. |
| Dividend income | Low / none | Investors should expect no income from this security. |
| Execution risk | High | Success depends heavily on regulatory approvals and clinician adoption of new procedures. |
Price Behavior
Steep Decline
The stock price has dropped sharply with strong downward pressure.
Extreme Price Shocks
The stock has experienced exceptionally large and disruptive price movements during the period.
Analysis of Past Performance
Type Stock | Historic Profit -40.09% | Avg. Invested days 33 | Today’s Advisory PASS |
Upturn Advisory Rating  | Upturn Advisory Performance  2.0 | Stock Returns Performance  1.0 |
| Profits based on simulation | Last Close 11/09/2026 |
Upturn Scorecard
Upturn Star Rating 
Company Fundamentals
Financial Health Rating
Growth Momentum Score
Ownership
Top 5 Institutional Investors
Unit Economics (Per $1K Revenue)
Economic Dimensions
Quantitative Style Profile
Style Classification
Quality Focused
Key Highlights
Company Size Small-Cap Stock | Market Capitalization 3.16M USD | Price to earnings Ratio - | 1Y Target Price 22.67 |
Price to earnings Ratio - | 1Y Target Price 22.67 | ||
Volume (30-day avg) 174.6K shares | Beta 0.51 | 52 Weeks Range 0.65 - 22.50 | Updated Date 11/08/2026 |
52 Weeks Range 0.65 - 22.50 | Updated Date 11/08/2026 | ||
Dividends yield (FY) - | Basic EPS (TTM) -6.84 |
How Company Makes Money
| Business area | What it includes | Retail investor read |
|---|---|---|
| ProSense Systems | Sale of the primary cryoablation hardware platform. | Revenue comes from selling the base equipment to hospitals and clinics. |
| Disposables | Cryoprobes and procedural kits used for every patient treatment. | This is a recurring revenue model driven by the number of procedures performed. |
| Geography | US, Europe, and Asia-Pacific markets. | The company is focused on global expansion to increase its installed base of devices. |
Analyzing Revenue: Products, Geography and Growth
Revenue by Geography
Geography revenue - Year on Year
Valuation
Trailing PE - | Forward PE - | Enterprise Value -8.79M | Price to Sales(TTM) 0.8 |
Enterprise Value -8.79M | Price to Sales(TTM) 0.8 | ||
Enterprise Value to Revenue 0.62 | Enterprise Value to EBITDA -2.63 | Shares Outstanding 4.64M | Shares Floating 2.52M |
Shares Outstanding 4.64M | Shares Floating 2.52M | ||
Percent Insiders 68.16 | Percent Institutions 14.31 |
Financial Metrics
🧭 Investment Snapshot
Total Revenue (Scale)
Total money earned from selling products or services before any costs. It is needed to understand the scale of the business and its ability to generate income.
Net Income (Profit)
Final profit after all expenses, interest, and taxes are deducted. It is needed to determine the overall profitability available to shareholders.
Free Cash Flow (Cash Strength)
Cash remaining after operating activities and capital expenditures, showing cash available for growth. It is needed to evaluate the company’s ability to invest, pay dividends, or reduce debt.
📈 Growth & Strength
Operating Income (Core Profit)
Profit from core operations after deducting all operating expenses. It is needed to measure how efficiently the company runs its primary business activities.
EBITDA (Cash Earnings)
Earnings before interest, taxes, depreciation, and amortization, indicating operating cash potential. It is needed to compare operating performance across companies without accounting or financing differences.
Gross Profit (Unit Profitability)
Revenue minus cost of revenue, showing profit after direct production costs. It is needed to evaluate core business profitability before overhead expenses.
🛡️ Financial Safety
Cash (Liquidity Buffer)
Total cash and cash equivalents on hand. It is needed to evaluate immediate liquidity and financial flexibility.
Total Debt (Leverage Risk)
Total debt including both short-term and long-term components. It is needed to assess the company’s leverage and financial risk.
Net Working Capital (Short-Term Health)
Current assets minus current liabilities, indicating short-term liquidity strength. It is needed to assess whether the company can meet its short-term obligations.
🧱 Balance Sheet Strength
Stockholder Equity (Net Worth)
Total equity value held by shareholders. It is needed to understand the net worth of the company from the owners’ perspective.
Total Assets (Asset Base)
The full value of everything the company owns, including cash, inventory, equipment, and investments. It is needed to understand the resource base used to generate revenue.
Income Before Tax (Pre-Tax Earnings)
Income before provision for income taxes. It is needed to analyze profitability independent of tax structures.
⚙️ Cost & Drag Factors
Cost of Revenue (Production Cost)
Direct costs required to produce and deliver the products or services sold. It is needed to assess efficiency in production and service delivery.
Total Operating Expenses (Operating Cost)
Indirect costs of running the business such as salaries, marketing, and administration. It is needed to understand how much it costs to sustain ongoing business operations.
Income Tax Expense (Tax Drag)
Amount of taxes paid or payable to the government. It is needed to evaluate the impact of taxation on overall profitability.
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