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Stereotaxis, Inc. (STXS) is a global leader in innovative robotic technologies aimed at improving the treatment of arrhythmias and endovascular procedures. The company's mission focuses on the discovery, development, and delivery of advanced robotic systems, instruments, and information solutions tailored for the interventional laboratory. By leveraging cutting-edge innovations, Stereotaxis helps physicians provide superior patient care with robotic precision and safety, streamline lab efficiency, and enhance procedural information integration.
Stereotaxis boasts over 100 issued patents that form the backbone of its platform. The core components of its systems have received regulatory clearance in various regions including the United States, European Union, Japan, Canada, and China, among others. This broad regulatory approval underscores the global trust and reliance on Stereotaxis' technology.
The company's revenue streams are diversified across systems, disposables, royalties, and subleases, with a significant portion generated from disposables, services, and accessories. Notably, the majority of its revenue is derived from the United States.
Through continuous innovation and dedication to serving the medical community, Stereotaxis remains at the forefront of robotic medical technology, making significant strides in improving procedural outcomes and operational efficiencies in healthcare settings worldwide.
For the latest updates and more information, visit Stereotaxis.
Stereotaxis (NYSE: STXS) has successfully treated nearly 500 patients using the Genesis Robotic Magnetic Navigation (RMN) system at Corewell Health's Fred & Lena Meijer Heart Center in Michigan. This marks the center as the first in the state to adopt this advanced robotic technology for cardiac ablation procedures aimed at treating complex heart arrhythmias. The Genesis system enhances precision and safety during procedures, crucial for improving patient outcomes. Stereotaxis continues to strengthen its partnership with Corewell Health to lead in arrhythmia care.
Stereotaxis (NYSE: STXS) has announced that Chairman and CEO David Fischel will participate in the Piper Sandler 34th Annual Healthcare Conference on December 1, 2022. Fischel will present during a Fireside Discussion at 9:00 am ET, followed by a panel on The Future of Robotic Surgery at 10:00 am ET. He will also engage in one-on-one meetings throughout the day to discuss Stereotaxis’ innovative technology and growth strategies, emphasizing their commitment to improving patient care with robotic systems.
Stereotaxis reported $7.7 million in revenue for Q3 2022, down from $9.1 million year-over-year. The decline is attributed to reduced system revenue due to hospital construction delays affecting backlog conversion. Gross margin stood at 60%, with recurring revenue gross margin at 80%. Operating loss was $5.1 million, while adjusted net loss was $2.2 million, excluding stock compensation. The company maintains a cash balance of $32.4 million, with no debt, and a growing system backlog over $13 million, indicating potential for recovery and growth in the upcoming year.
Stereotaxis (NYSE: STXS) announced that it will release its third-quarter 2022 financial results on November 10, 2022, before U.S. markets open. A conference call will follow at 10 a.m. EST to discuss these results and corporate updates. The call can be accessed by dialing 800-715-9871 (US) or 1-646-307-1963 (International), using the passcode 5729833. This session aims to provide insights into Stereotaxis' performance in the surgical robotics sector and its ongoing developments in minimally invasive endovascular interventions.
Stereotaxis (NYSE: STXS) has been awarded the 2022 Innovation Award by the Office of the Mayor of St. Louis, reflecting its leadership in advancing robotic technologies for minimally invasive heart procedures. The company’s Robotic Magnetic Navigation technology benefits patients with various arrhythmias, having treated over 100,000 globally. Stereotaxis invests over $10 million annually in R&D to enhance healthcare access. Recently, it opened a new 45,000-square-foot headquarters in St. Louis, furthering its commitment to innovation in robotic surgery.
Stereotaxis (NYSE: STXS) announced its participation in the Sixth Annual International Meeting of the Society for Cardiac Robotic Navigation (SCRN) in Budapest on September 29-30, 2022. The event, featuring over 100 attendees and 30 faculty from more than 20 countries, focuses on advancements in robotic technologies in cardiology. Presentations will showcase the clinical value and innovations of Stereotaxis’ systems, including the Genesis RMN system and tele-robotics. CEO David Fischel expressed enthusiasm for SCRN’s growth and the opportunity to engage with peers to enhance patient care through robotics.
Stereotaxis (NYSE: STXS) announced Overland Park Regional Medical Center (OPRMC) is launching its second robotic program for heart rhythm disorders. This follows OPRMC's successful robotic heart rhythm care program established in 2019. The hospital will become the first in the U.S. to operate two Stereotaxis robotic systems for cardiac ablation, enabling treatment for a wider range of arrhythmias. This collaboration aims to enhance patient care and clinical research in Kansas City, utilizing advanced robotic technology for minimally invasive procedures.
Stereotaxis (STXS) reported a second quarter 2022 revenue of $6.2 million, down from $9.1 million in Q2 2021, driven by reduced system sales. Operating loss and net loss for the quarter were approximately ($5.2 million), compared to ($3.4 million) and ($1.2 million) the previous year. The company noted a strong gross margin of 76%, with recurring revenue gross margin at 83%. Despite financial challenges, Stereotaxis is advancing its innovation pipeline, with three new orders for Genesis systems and plans for future product launches.
Stereotaxis (NYSE: STXS) announced enhancements to its commercial leadership team with two experienced executives, Frank Van Hyfte and Tim Glynn. Van Hyfte will serve as VP for Europe, the Middle East, and Africa, bringing over 15 years of experience from Intuitive Surgical. Glynn joins as VP of Market Development, previously with Acutus Medical. Both leaders aim to increase commercial growth and build a robust product ecosystem for Stereotaxis, which specializes in robotic technologies for minimally invasive endovascular procedures.
Stereotaxis (NYSE: STXS), a leader in surgical robotics for minimally invasive endovascular intervention, announced the release of its financial results for Q2 2022 on August 9, 2022, prior to market open. The company will host a conference call at 10 a.m. ET to discuss its financial performance and corporate developments. Stereotaxis aims to enhance patient care through advanced robotic systems, having treated over 100,000 patients globally.
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