UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549

                                    FORM 8-K

                             CURRENT REPORT PURSUANT
                          TO SECTION 13 OR 15(D) OF THE
                         SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported)                October 28, 2004
                                               ---------------------------------

                                   iCAD, INC.
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             (Exact Name of Registrant as Specified in Its Charter)

                                    Delaware
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                 (State or Other Jurisdiction of Incorporation)

         1-9341                                         02-0377419
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(Commission File Number)                     (IRS Employer Identification No.)

4 Townsend West, Suite 17, Nashua, New Hampshire                        03063
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    (Address of Principal Executive Offices)                         (Zip Code)

                                 (603) 882-5200
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              (Registrant's Telephone Number, Including Area Code)

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          (Former Name or Former Address, if Changed Since Last Report)

     Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):

     |_| Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)

     |_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17
CFR 240.14a-12)

     |_| Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))

     |_| Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))


Item 2.02         Results of Operations and Financial Condition.

         On October 28, 2004 iCAD, Inc. (the "Company") issued a press release
announcing its financial results for the three and nine month periods ended
September 30, 2004. A copy of the Company's press release is attached hereto as
Exhibit 99.1 and is incorporated herein by reference.

                                   SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.

                      iCAD, INC.
                      (Registrant)

                      By:  /s/ Annette Heroux                                 
                          ------------------------------------------------------
                           Annette Heroux
                           Vice President of Finance,  Chief  Financial Officer

Date:  November 2, 2004


                                  EXHIBIT INDEX

Exhibit No.                         Description of Document

99.1     Press Release of iCAD, Inc. dated October 28, 2004 announcing financial
         results for the three and nine month periods ended September 30, 2004.