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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 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.
Stereotaxis (STXS) announced the CE Mark submission for its MAGiC™ catheter, a robotically navigated device for cardiac ablation. This innovation aims to enhance precision and safety in treating cardiac arrhythmias. Developed with Osypka, the MAGiC catheter builds on nearly 20 years of experience and over 100,000 procedures. Following CE Mark approval, Stereotaxis plans to launch the catheter commercially in Europe by year-end. The company is also preparing for FDA submission for a U.S. trial. This marks a significant milestone for Stereotaxis and the robotic electrophysiology field.
Stereotaxis (NYSE: STXS) announced the publication of a special issue in the Journal of Atrial Fibrillation & Electrophysiology on Robotic Magnetic Navigation (RMN) for cardiac arrhythmias. The issue features 16 peer-reviewed studies, contributed by physicians from 20 hospitals worldwide, highlighting RMN's clinical benefits. Key topics include the history of RMN, successful patient outcomes, fluoroscopy-free procedures, and advancements in robotic technology. This collaboration aims to enhance awareness and education in electrophysiology, emphasizing the growing importance of robotics in treating arrhythmias.
Stereotaxis (STXS) reported Q1 2022 revenue of $7.0 million, down from $8.6 million in Q1 2021, with system revenue at $1.6 million and recurring revenue at $5.4 million. The gross margin is approximately 70%, with recurring revenue gross margin at 85%. Operating loss increased to ($4.1 million) from ($1.5 million) last year. The company has a cash balance of $36.9 million as of March 31, 2022, with no debt. Despite challenges, Stereotaxis anticipates ongoing revenue growth driven by innovations and capital adoption.
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