Why did ICU's earnings decline in 2024?

The earnings of ICU (SeaStar Medical) declined in 2024 due to a combination of factors:

1. **Industry Dynamics**: ICU operates within the Health Care Equipment & Supplies industry. The performance of this sector can significantly influence ICU's financial outcomes. For instance, the Health Care Select Sector SPDR Fund (XLV) experienced a fractional decline, and the iShares Biotechnology ETF (IBB) fell by 1.1%, indicating a mixed trend within the health care sector. This mixed trend could reflect broader market conditions, regulatory changes, or competitive pressures that affected ICU's revenue stream.
2. **Market and Economic Conditions**: Specific market or economic conditions not directly detailed in the provided information could have impacted ICU's revenue. For example, changes in consumer confidence, government policies, or broader economic indicators can influence healthcare spending and, consequently, the revenue of companies like ICU.

In summary, the decline in ICU's earnings in 2024 is likely a result of a combination of factors including industry trends and market conditions.