Icecure Medical Ltd. · NASDAQ:ICCM
Icecure Medical — Q4 2025 Earnings Presentation
26 slides from Icecure Medical's earnings presentation, Mar 17, 2026
Slide 1: Freezing Cancer in its Tracks
Freezing Cancer in its Tracks ProSense® is the first and only medical device to be granted U.S. FDA marketing authorization for the local treatment of low-risk breast cancer with endocrine therapy (Nasdaq: ICCM) icecure-medical.com March 2026 Confidential
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, as amended, and other Federal securities laws. Words such as "expects," "anticipates," "intends," "plans," "bel
Slide 3: Disclaimers
Disclaimers This presentation is being delivered to a limited number of parties for discussion purposes only and shall not form the basis for or be relied on in connection with any binding commitment. By accepting this presentation, each recipient agrees (i) to maintain the strict confidentiality of
Slide 4: IceCure Leadership
IceCure Leadership Highly successful medical device team with a strong track record in scaling rapid-growth companies Eyal Shamir Shay Levav Shad Good CEO COO VP Sales, North America CEO of IceCure since 2016 20+ years experience in healthcare 20+ years of medical device sales and management leaders
Slide 5: IceCure Corporate Overview
IceCure Corporate Overview First-and-only solution with U.S. labeling for the minimally invasive local treatment of Breast Cancer, a $1.2bn+ TAM IceCure Poised To Disrupt Cancer Care Game-Changing Novel LN2 Cryoablation ONLY MIS cryoablation New class of cryoablation that overcomes device in U.S.
Slide 6: The 100 Year De-Escalation Journey In Breast Cancer
The 100 Year De-Escalation Journey In Breast Cancer Clinicians and patients have pursued a clinically effective breast preserving treatment option for >100 years Radical Modified Radical Lumpectomy Lumpectomy Cryoablation Mastectomy Mastectomy (axillary dissection) (lymph node biopsy) Radical Modifi
Slide 7: Breast Cancer Represents a Massive TAM With Key Unmet Needs
Breast Cancer Represents a Massive TAM With Key Unmet Needs As the only minimally invasive treatment approved with U.S. labeling for breast cancer, IceCure is positioned to penetrate one of the largest oncology segments in the U.S., including 2.3mm(1) new breast cancer patients globally Annual New U
Slide 8: Proven Leadership Team
Proven Leadership Team Experienced management team with deep medtech expertise Ron Mayron, Chairman of the Board Shad Good, VP Sales North America Served for 20 years in several positions at Nearly 20 years of medical device sales and Teva including as VP – Israel & Africa & CEO leadership with expe
Slide 9: IceCure – Key Company Highlights
IceCure – Key Company Highlights IceCure’s novel labeling and cryoablation technology creates a significant commercial opportunity and positions IceCure to become the market leading platform in minimally-invasive cancer care Next-generation minimally-invasive LN2 cryoablation platform poised to di
Slide 10: ProSense – IceCure's Disruptive LN2 Cryoablation Platform
ProSense – IceCure’s Disruptive LN2 Cryoablation Platform Groundbreaking technology poised to drive the shift to minimally-invasive breast cancer treatment IceCure’s Flexible Business Model To Drive ProSense System Adoption Touch Cryoprobe screen user Console related revenues interface Sales of con
Slide 11: Cryoablation Key Advantage – Patient Experience vs. Lumpectomy
Cryoablation Key Advantage – Patient Experience vs. Lumpectomy Current standard-of-care, lumpectomy, presents a lengthy, stressful journey with anesthesia, recovery and high re-excision rates – impacting patient experience and outcomes 1. Pre-surgical screening / 2. Fasting 3. Radiology 4. Pre-surgi
Slide 12: Cryoablation Advantage – Patient Experience vs. Lumpectomy
Cryoablation Advantage – Patient Experience vs. Lumpectomy Cryoablation offers a faster, less invasive procedure with no delays from prep or waiting, eliminates the need for general anesthesia and offers rapid same-day recovery times with low / insignificant re-excision rates 1. Pre-treatment 2. Bre
Slide 13: Clinical Validation – ICE3: Landmark Study For Cryoablation Of Breast Cancer
Clinical Validation – ICE3: Landmark Study For Cryoablation Of Breast Cancer 194 patient, open-label study across 19 sites of cryoablation with early-stage breast cancer ICE3 was a 10-year investment that led to the only on-label minimally invasive treatment for breast cancer in the U.S. Study Desig
Slide 14: ProSense Clinical Results vs. Current Gold Standard Lumpectomy
ProSense Clinical Results vs. Current Gold Standard Lumpectomy ProSense offers gold standard outcomes AND preserved breast cosmesis ProSense vs. Lumpectomy Clinical Data ProSense vs. Lumpectomy Outcomes Lumpectomy IceCure(3) Recovery Cryoablation scar 1 week or greater(1) 24 hours Time Recurrence 5-
Slide 15: Robust Body of Highly Supportive Clinical Studies In Breast Cancer To Drive Adoption
Robust Body of Highly Supportive Clinical Studies In Breast Cancer To Drive Adoption Large body of clinical studies supporting the first and only Breast Cancer labeling in the U.S. with over 1,500 patients treated across 17 clinical studies Trial Study Body Part Design Started / Finished Sites/Geogr
Slide 16: FDA Post-Market Study Requirements & Design Elements
FDA Post-Market Study Requirements & Design Elements Rigorously designed post-market study aims to continue to build clinical validation in a commercial setting Post-market surveillance study to produce additional clinical data collection and serve as active Study Type commercial sites for treatme
Slide 17: IceCure – Poised to Drive Significant Revenue Growth
IceCure – Poised to Drive Significant Revenue Growth Key pieces in place to drive significant growth upon U.S. market entry in breast cancer ONLY Minimally- 8+ year Head Strong Invasive Tx. Start Due to Commercial with U.S. Breast Special Leadership Cancer Labeling Controls Team Protocol(1) Robust C
Slide 18: U.S. Sales Strategy – Overview
U.S. Sales Strategy – Overview IceCure’s highly experienced Commercial leadership team will employ a well-validated model of selling via a highly compelling clinical + economic story with top sales reps and world class customer support Sales Strategy Attract top sales talent Focused Customer Targeti
Slide 19: Well Understood Target Clinical Call Points For MIS Breast Cryoablation
Well Understood Target Clinical Call Points For MIS Breast Cryoablation Key call points in breast cancer will be breast surgeons and breast radiologists / interventional radiologists Breast Surgeon: Breast Radiologist & IR: Breast exams, risk assessment, Interpret screening and diagnostic treatment
Slide 20: ProSense Delivers the Elusive 'Quadruple Win'
ProSense Delivers the Elusive ‘Quadruple Win’ ProSense offers clear benefits for patients, physicians, payors and hospital systems compared to lumpectomy Patients Physicians Payors Healthcare Systems Minimally invasive Increased ROI Lower total cost vs. Less than an hour(4) surgery (3) Cos
Slide 21: IceCure – Leveraging Our Existing Global Infrastructure
IceCure – Leveraging Our Existing Global Infrastructure 27 global regulatory approvals and significant infrastructure in place for rapid scaling in breast cancer Exclusive distribution agreement with Shanghai Medtronic Zhikang and Beijing Turing Distributor solutions services offered across Europe,
Slide 22: Breast Cancer – Terumo Japan Agreement
Breast Cancer – Terumo Japan Agreement Exclusive strategic distribution agreement with Terumo to accelerate commercialization of ProSense in Japan For >6 years ProSense has been sold through a Private Import License – now leveraging an agreement with Terumo to expand distribution and acquire PMDA ap
Slide 23: Strong Support from Five Medical Societies And Leading KOLs
Strong Support from Five Medical Societies And Leading KOLs With a robust supportive clinical dossier and clear advantages for patients, IceCure has been able to garner support from the leading Medical Societies involved in breast cancer care as well as top KOL influencers “…96.3% recurrence free ra
Slide 24: US Reimbursement Strategy
US Reimbursement Strategy Category 3 reimbursement will support initial U.S. commercialization, with TPT less than 12 months away and a clear path to Category 1 reimbursement anticipated in early 2028 Customer Collateral Package: Complete – Category 3 Code billing processes Anticipated Increase
Slide 25: IceCure: Pioneering a Disruptive, Minimally-Invasive Cancer Treatment Platform
IceCure: Pioneering a Disruptive, Minimally-Invasive Cancer Treatment Platform Beyond breast cancer, IceCure has already had significant clinical success in other key cancer markets to address the broader $2.5bn(1) minimally invasive cancer treatment market ProSense Platform Opportunity Received F
Slide 26: Thank You!
Thank Eyal Shamir, CEO E: investors@icecure-medical.com T: +972-4-623-0333 You! Confidential 26