IceCure Medical
ICCM on Nasdaq. Surgical & medical instruments & apparatus. Market value $4m.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
See Health care stocks that passed both tests
This is not advice. Check the numbers below.
For every $100 of what the whole company costs, it produced $-10.19 of spare cash last year. A savings account pays about $4.
The filings do not give us enough to work this out.
The filings do not give us enough to work this out.
Quality score: 25 of 100. Price score: 0 of 100. Our list needs 70 on quality and 60 on price.
Five years of cash, in billions
| Revenue | |||||
| Revenue | $4m | $3m | $3m | $3m | $3m |
| Operating margin | |||||
| Operating margin | -235.0% | -542.6% | -482.4% | -476.9% | -446.7% |
| Debt to equity | |||||
| Debt to equity | n/a | n/a | n/a | 0.02 | 0.00 |
| Shares outstanding | |||||
| Shares outstanding | 0.04bn | 0.05bn | 0.05bn | 0.06bn | 0.07bn |
Health checks
- Free cash flow positive0 of 5 years
- Accounting checksSkipped: company is not yet profitable
- Debt0.00× equity
- Revenue growth, five yearsShrinking, 4.9% a year
- Buying back its own sharesNo, 104% more shares since 2021
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 17 March 2026
- Next quarterly (estimated, 10-Q)
- n/a
Who owns it
None of the long-term investors we follow own it. 11 funds in all.
Largest holders overall
- Jane Street Group$169,541New
- Scientech Research$158,903New
- UBS Group AG$83,072New
- HRT Financial LP$73,000New
- JPMorgan Chase$31,297New
- Morgan Stanley$21,063New
- Gunderson Capital Management$3,034New
- Kingdom Financial Group LLC.$2,590New
- SBI Securities$2,192New
- Bartlett & CO. Wealth Management$39New
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
2 investors own more than 5%.
- Mr. Li HaixiangInsider or founderat least 45.8%+0.1 pts(filed with 1 related holder)Since 17 March 2026
- Armistice Capital, LLCPassive investorat least 10.0%(filed with 1 related holder)Since 30 June 2026
| Holder | Stake | Since | |
|---|---|---|---|
Mr. Li Haixiang Insider or founder | at least 45.8%+0.1 pts (filed with 1 related holder) | 17 March 2026 | |
Armistice Capital, LLC Passive investor | at least 10.0% (filed with 1 related holder) | 30 June 2026 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
No insider bought or sold on the open market in the last 12 months.
From Form 4 filings: insiders must report trades in their own company's shares within two days.
Warning signs in its filings
Problems the company itself reported to the SEC, in its own words.
IceCure Medical doesn’t file a US annual report (10-K), so we haven’t checked it.
A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.
What could go wrong
- Sales have shrunk: 4.9% a year.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.