iCAD makes AI-powered software for breast cancer detection. Its core product, the ProFound Breast Health Suite, analyzes mammogram images — both standard 2D and 3D/tomosynthesis — to help radiologists identify suspicious lesions, assess breast density, and evaluate near-term cancer risk. The suite has three products: ProFound Detection, which scores and highlights suspicious lesions; ProFound Density Assessment, which objectively categorizes breast density to help facilities comply with a new FDA mandate requiring density disclosure in all mammogram reports; and ProFound Risk, which generates a personalized 1-2 year cancer risk score from the mammogram image itself. iCAD sells primarily to hospitals, breast imaging centers, and radiology practices. In North America, iCAD uses a direct sales force supplemented by OEM partners including GE Healthcare, Fujifilm, and Siemens, plus radiology platform resellers. Internationally, iCAD distributes through regional resellers across Europe, the Middle East, Asia, and Africa. iCAD generates revenue through three models: perpetual licenses (upfront, immediate revenue recognition), subscriptions (recurring, ratable), and its cloud offering launched in 2024 via Google Cloud (ratable, typically on 3-year contracts). iCAD is actively shifting from perpetual to recurring revenue, which creates a near-term headwind to GAAP revenue but builds ARR over time. Gross margins are approximately 86%, reflecting the software nature of the business. iCAD also has a partnership with Google Health to expand into international markets where 2D mammography is prevalent and AI could supplement or replace a second radiologist reader.