Group 1: Earnings Performance - Stereotaxis Inc. reported a quarterly loss of $0.05 per share, better than the Zacks Consensus Estimate of a loss of $0.07, representing an earnings surprise of +28.57% [1] - The company posted revenues of $8.8 million for the quarter ended June 2025, surpassing the Zacks Consensus Estimate by 10.67%, compared to revenues of $4.5 million a year ago [2] - Over the last four quarters, Stereotaxis has surpassed consensus EPS estimates just once, but has topped consensus revenue estimates three times [2] Group 2: Stock Performance and Outlook - Stereotaxis shares have lost about 1.3% since the beginning of the year, while the S&P 500 has gained 7.9% [3] - The company's earnings outlook will be crucial for future stock performance, with current consensus EPS estimates at -$0.06 for the coming quarter and -$0.25 for the current fiscal year [4][7] - The current Zacks Rank for Stereotaxis is 3 (Hold), indicating expected performance in line with the market in the near future [6] Group 3: Industry Context - The Medical - Instruments industry, to which Stereotaxis belongs, is currently in the bottom 41% of over 250 Zacks industries, which may impact stock performance [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, suggesting that investors should monitor these revisions closely [5]

Financial Data and Key Metrics Changes - Revenue for Q2 2025 totaled $8.8 million, a growth of 95% from $4.5 million in Q2 2024 and an 18% sequential growth compared to $7.5 million in Q1 2025 [15][16] - System revenue for Q2 was $3 million, while recurring revenue was $5.8 million, compared to $200,000 and $4.3 million in the prior year's second quarter [15][16] - Gross margin for Q2 2025 was 52% of revenue, with recurring revenue gross margin at 68% and system gross margin at 22% [17] - Operating loss and net loss for Q2 2025 were $4 million and $3.8 million, respectively, compared to $6 million and $5.8 million in the previous year [18] Business Line Data and Key Metrics Changes - The Genesis X system was successfully transferred to manufacturing, with the first commercial system expected to be installed in Europe [6][14] - The MAGIC ablation catheter contributed approximately $200,000 in revenue from initial European customers during Q2 2025, with usage at about 30% of EU accounts [7][10] - The FDA clearance of the MAGIC Sweep high-density mapping catheter was a significant milestone, expected to enhance robotic utilization and disposable revenue per procedure [9][10] Market Data and Key Metrics Changes - The company anticipates a gradual increase in the utilization of MAGIC catheters across various procedures, with a broad label for ablation in all four chambers of the heart [35] - The company expects to launch new technologies with a focus on accelerating growth while improving margins and achieving profitability [20] Company Strategy and Development Direction - The innovation strategy is based on four pillars: making robots widely available, building an ecosystem of catheters, developing interventional devices, and establishing a digital backbone [4] - The transition from a single-application robot to a platform for endovascular surgery is expected to significantly increase the total addressable market [12] - The company plans to gradually shift to a model of having one clinical representative per hospital to enhance support and utilization [28][30] Management's Comments on Operating Environment and Future Outlook - Management reiterated revenue guidance of double-digit growth for the full year 2025, with expectations of system revenue fluctuating between $2 million to $3 million per quarter [20] - The company is preparing for a full launch of Genesis X and expects to see significant growth in capital sales next year [30] - Management expressed confidence in achieving regulatory approvals and the collaborative nature of interactions with the FDA [43] Other Important Information - The company had cash and cash equivalents of $7 million as of June 30, 2025, with no debt, and announced a registered direct financing for the sale of $12.5 million in shares [18][19] - Following the financing, the company expects to have $18.8 million in cash, which will support the acceleration of its innovation strategy [19] Q&A Session Summary Question: Discussion on financing and commercial strategy - Management indicated plans to build out the sales force to support new product launches, with a current commercial team of about 40 people [26][28] Question: Progress of MAGIC RF catheter in Europe - Approximately 30% of European accounts have started using MAGIC, with usage across a broad range of procedures [35] Question: FDA interactions regarding MAGIC - Management described ongoing collaborative interactions with the FDA, with expectations for approval in the second half of the year [43]

[Executive Summary & Business Highlights](index=1&type=section&id=Executive%20Summary%20%26%20Business%20Highlights) [Company Overview and Strategic Vision](index=1&type=section&id=Company%20Overview%20and%20Strategic%20Vision) Stereotaxis, a leader in surgical robotics, reported strong Q2 2025 commercial results, driven by innovations. The company is establishing a new foundational product ecosystem and has strengthened its balance sheet through recent equity financing to accelerate adoption - Stereotaxis is a pioneer and global leader in surgical robotics for minimally invasive endovascular intervention[2](index=2&type=chunk) - The company is pleased with sequential and year-over-year growth in both recurring and system revenue, reflecting the early positive impact of innovations on commercial adoption[3](index=3&type=chunk) - A recently completed equity financing has strengthened the balance sheet, enabling acceleration of the comprehensive innovation strategy[3](index=3&type=chunk) [Key Business Developments and Innovations](index=1&type=section&id=Key%20Business%20Developments%20and%20Innovations) A significant milestone was achieved with the recent FDA clearance of MAGiC Sweep, Stereotaxis' first interventional catheter clearance in nearly 20 years. Initial sales of MAGiC Sweep, along with MAGiC and Map-iT, are expected to contribute to ramping recurring revenue, with multiple additional regulatory approvals anticipated soon - Recent FDA clearance of MAGiC Sweep was a significant milestone, marking Stereotaxis' first FDA clearance for an interventional catheter in nearly 20 years[3](index=3&type=chunk) - Initial sales of MAGiC Sweep, along with MAGiC and Map-iT, are expected to contribute to increasing recurring revenue[3](index=3&type=chunk) - The company anticipates multiple additional regulatory approvals in the coming weeks and months, in line with previously shared timelines[3](index=3&type=chunk) [Financial Performance - Second Quarter 2025](index=1&type=section&id=Financial%20Performance%20-%20Second%20Quarter%202025) [Revenue Analysis](index=1&type=section&id=Revenue%20Analysis) Stereotaxis reported a substantial increase in total revenue for Q2 2025, driven by significant growth in both system and recurring revenue. System revenue saw a dramatic year-over-year increase due to partial recognition on two capital systems, including the first commercial GenesisX system, while recurring revenue also grew robustly Q2 2025 Revenue Performance | Metric | Q2 2025 (Millions) | Q2 2024 (Millions) | YoY Change | QoQ Change (vs. Q1 2025) | | :----------------- | :----------------- | :----------------- | :--------- | :------------------------ | | Total Revenue | $8.8 | $4.5 | 95% | 18% (vs. $7.5M) | | System Revenue | $3.0 | $0.2 | 1400% | N/A | | Recurring Revenue | $5.8 | $4.3 | 35% | N/A | - System revenue for Q2 2025 included partial revenue recognition on two capital systems, notably the first commercial GenesisX system[4](index=4&type=chunk) - Recurring revenue growth was attributed to contributions from Map-iT catheter revenue and the initial launch of MAGiC, Stereotaxis' proprietary robotically navigated ablation catheter[4](index=4&type=chunk) [Gross Margin](index=1&type=section&id=Gross%20Margin) The overall gross margin for Q2 2025 was 52%, with recurring revenue gross margin at 68% and system gross margin at 22%. Gross margins continue to be affected by acquisition-related accounting and low system production levels Q2 2025 Gross Margins | Metric | Q2 2025 Gross Margin | | :---------------------- | :------------------- | | Total Gross Margin | 52% | | Recurring Revenue Margin | 68% | | System Gross Margin | 22% | - Gross margins are impacted by acquisition-related accounting, which temporarily reduces disposable margin, and by fixed overhead allocated over low system production levels[5](index=5&type=chunk) [Operating Expenses and Profitability](index=1&type=section&id=Operating%20Expenses%20and%20Profitability) Operating expenses in Q2 2025 were $8.6 million, including $2.6 million in non-cash charges. Adjusted operating expenses decreased to $6.0 million, partly due to a favorable adjustment on acquisition-related contingent earnout consideration and a $0.5 million Employee Retention Tax Credit Q2 2025 Operating Expenses and Operating Loss | Metric | Q2 2025 (Millions) | Q2 2024 (Millions) | | :--------------------------- | :----------------- | :----------------- | | Total Operating Expenses | $8.6 | $9.3 | | Non-Cash Charges | $2.6 | N/A | | Adjusted Operating Expenses | $6.0 | $6.8 | | Operating Loss | ($4.0) | ($6.0) | - Operating expenses included **$2.6 million** of non-cash charges for stock compensation, acquisition-related contingent earnout consideration, and amortization of acquired intangible assets[6](index=6&type=chunk) - The company received a **$0.5 million** Employee Retention Tax Credit, which reduced current period operating expenses[6](index=6&type=chunk) [Net Loss and Free Cash Flow](index=1&type=section&id=Net%20Loss%20and%20Free%20Cash%20Flow) Stereotaxis reduced its net loss and adjusted net loss in Q2 2025 compared to the prior year. However, free cash flow remained negative, showing a slight increase in outflow Q2 2025 Net Loss and Free Cash Flow | Metric | Q2 2025 (Millions) | Q2 2024 (Millions) | | :---------------------- | :----------------- | :----------------- | | Net Loss | ($3.8) | ($5.8) | | Adjusted Net Loss | ($1.3) | ($3.3) | | Negative Free Cash Flow | ($3.7) | ($3.1) | [Financial Position and Liquidity](index=2&type=section&id=Financial%20Position%20and%20Liquidity) [Cash Balance and Recent Financing](index=2&type=section&id=Cash%20Balance%20and%20Recent%20Financing) As of June 30, 2025, Stereotaxis held $7.0 million in cash and cash equivalents with no debt. A subsequent registered direct financing in July, raising $12.5 million, significantly boosted the proforma cash balance to $18.8 million Cash and Liquidity | Metric | Amount (Millions) | | :------------------------- | :---------------- | | Cash & Equivalents (June 30, 2025) | $7.0 | | Debt (June 30, 2025) | $0 | | July Financing | $12.5 | | Proforma Cash Balance | $18.8 | - The company completed a first closing of **$8.5 million** in July from the registered direct financing[8](index=8&type=chunk) [Outlook and Forward-Looking Expectations](index=2&type=section&id=Outlook%20and%20Forward-Looking%20Expectations) Stereotaxis reiterates its expectation for double-digit revenue growth for the full year 2025, with specific targets for quarterly system and recurring revenue. The company anticipates substantial growth in 2026, supported by regulatory milestones and initial commercial launches, and expects its strengthened balance sheet to fund market advancement and profitable growth - Stereotaxis expects **double-digit revenue growth** for the full year 2025[9](index=9&type=chunk) 2025 Revenue Expectations | Metric | Expectation | | :------------------------- | :---------- | | System Revenue per Quarter | $2-3 million | | Q4 Recurring Revenue | $7 million | - Anticipated regulatory milestones and initial commercial launches in 2025 are expected to support substantial growth in 2026[9](index=9&type=chunk) - The company's balance sheet is expected to allow it to advance its transformative product ecosystem to market, fund commercialization, and achieve profitable growth[9](index=9&type=chunk) [Supplementary Information](index=2&type=section&id=Supplementary%20Information) [About Stereotaxis](index=2&type=section&id=About%20Stereotaxis) Stereotaxis is a global leader in surgical robotics for minimally invasive endovascular intervention, focused on developing robotic systems, instruments, and information solutions. Their technology aims to enhance patient care, expand access to therapy, and improve operating room efficiency, having treated over 150,000 patients worldwide - Stereotaxis is a pioneer and global leader in innovative surgical robotics for minimally invasive endovascular intervention[11](index=11&type=chunk) - The company's mission is to discover, develop, and deliver robotic systems, instruments, and information solutions for the interventional laboratory[11](index=11&type=chunk) - Stereotaxis technology has been used to treat over **150,000 patients** across the United States, Europe, Asia, and elsewhere[11](index=11&type=chunk) [Forward-Looking Statements Disclaimer](index=2&type=section&id=Forward-Looking%20Statements%20Disclaimer) This section provides a standard disclaimer regarding forward-looking statements, highlighting that such statements involve inherent risks and uncertainties that could cause actual results to differ materially. The company undertakes no obligation to update these statements - Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially[12](index=12&type=chunk) - Factors causing differences include managing expenses, market acceptance, global economic conditions, competitive factors, healthcare policy changes, dependence on third-party vendors, and timing of regulatory approvals[12](index=12&type=chunk) - The Company undertakes no obligation to update these statements for revisions or changes after the date of this release[12](index=12&type=chunk) [Company Contacts](index=2&type=section&id=Company%20Contacts) Contact information for Stereotaxis' Chairman and CEO, David L. Fischel, and Chief Financial Officer, Kimberly R. Peery, is provided for investor inquiries - Contact information for investor relations is provided, including David L. Fischel (Chairman and CEO) and Kimberly R. Peery (Chief Financial Officer)[13](index=13&type=chunk) [Consolidated Financial Statements](index=3&type=section&id=Consolidated%20Financial%20Statements) [Consolidated Statements of Operations](index=3&type=section&id=Consolidated%20Statements%20of%20Operations) The unaudited Consolidated Statements of Operations detail the company's financial performance for the three and six months ended June 30, 2025, and 2024, showing revenue, cost of revenue, gross margin, operating expenses, and net loss Consolidated Statements of Operations (Unaudited) | (in thousands, except share and per share amounts) | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :------------------------------------------------- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | **Revenue:** | | | | | | Systems | $3,038 | $240 | $5,002 | $2,852 | | Disposables, service and accessories | 5,760 | 4,262 | 11,268 | 8,530 | | **Total revenue** | **8,798** | **4,502** | **16,270** | **11,382** | | **Cost of revenue:** | | | | | | Systems | 2,366 | 187 | 4,033 | 2,087 | | Disposables, service and accessories | 1,853 | 1,002 | 3,594 | 2,016 | | **Total cost of revenue** | **4,219** | **1,189** | **7,627** | **4,103** | | **Gross margin** | **4,579** | **3,313** | **8,643** | **7,279** | | **Operating expenses:** | | | | | | Research and development | 1,777 | 2,273 | 4,127 | 4,516 | | Sales and marketing | 3,269 | 3,301 | 6,417 | 6,304 | | General and administrative | 4,002 | 3,760 | 8,497 | 7,226 | | Other | (492) | - | (492) | - | | **Total operating expenses** | **8,556** | **9,334** | **18,549** | **18,046** | | **Operating loss** | **(3,977)** | **(6,021)** | **(9,906)** | **(10,767)** | | Other expense | (1) | (3) | (1) | (3) | | Interest income, net | 152 | 191 | 258 | 430 | | **Net loss** | **$(3,826)** | **$(5,833)** | **$(9,649)** | **$(10,340)** | | Cumulative dividend on convertible preferred stock | (318) | (325) | (632) | (656) | | **Net loss attributable to common stockholders** | **$(4,144)** | **$(6,158)** | **$(10,281)** | **$(10,996)** | | **Net loss per share attributed to common stockholders:** | | | | | | Basic | $(0.05)$ | $(0.07)$ | $(0.12)$ | $(0.13)$ | | Diluted | $(0.05)$ | $(0.07)$ | $(0.12)$ | $(0.13)$ | | **Weighted average number of common shares and equivalents:** | | | | | | Basic | 87,952,086 | 84,570,738 | 87,861,231 | 84,025,335 | | Diluted | 87,952,086 | 84,570,738 | 87,861,231 | 84,025,335 | [Consolidated Balance Sheets](index=4&type=section&id=Consolidated%20Balance%20Sheets) The unaudited Consolidated Balance Sheets present the company's financial position as of June 30, 2025, and December 31, 2024, detailing assets, liabilities, and stockholders' equity Consolidated Balance Sheets (Unaudited) | (in thousands, except share amounts) | June 30, 2025 | December 31, 2024 | | :----------------------------------- | :------------ | :---------------- | | **Assets** | | | | Current assets: | | | | Cash and cash equivalents | $6,967 | $12,217 | | Restricted cash - current | - | 219 | | Accounts receivable, net | 4,393 | 3,824 | | Inventories, net | 9,608 | 8,331 | | Prepaid expenses and other current assets | 936 | 1,848 | | **Total current assets** | **21,904** | **26,439** | | Property and equipment, net | 3,284 | 3,573 | | Goodwill | 3,764 | 3,764 | | Intangible assets, net | 6,899 | 7,358 | | Operating lease right-of-use assets | 5,204 | 5,483 | | Prepaid and other non-current assets | 118 | 107 | | **Total assets** | **$41,173** | **$46,724** | | **Liabilities and stockholders' equity** | | | | Current liabilities: | | | | Accounts payable | $6,730 | $5,668 | | Accrued liabilities | 1,731 | 2,922 | | Deferred revenue | 5,843 | 6,804 | | Current contingent consideration | 5,839 | 5,638 | | Current portion of operating lease liabilities | 605 | 570 | | **Total current liabilities** | **20,748** | **21,602** | | Long-term deferred revenue | 1,057 | 2,064 | | Long-term contingent consideration | 6,384 | 6,126 | | Operating lease liabilities | 5,122 | 5,436 | | Other liabilities | 1,110 | 64 | | **Total liabilities** | **34,421** | **35,292** | | Series A - Convertible preferred stock | 5,296 | 5,352 | | Stockholders' equity: | | | | Common stock | 86 | 85 | | Additional paid-in capital | 572,950 | 567,926 | | Treasury stock | (206) | (206) | | Accumulated deficit | (571,374) | (561,725) | | **Total stockholders' equity** | **1,456** | **6,080** | | **Total liabilities and stockholders' equity** | **$41,173** | **$46,724** |

Wall Street expects flat earnings compared to the year-ago quarter on higher revenues when Stereotaxis Inc. (STXS) reports results for the quarter ended June 2025. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates. The earnings report, which is expected to be released on August 7, might help the stock move higher if these key numbers are better th ...

Core Insights - Stereotaxis has received FDA 510(k) clearance for its MAGiC Sweep™ catheter, marking a significant advancement in electrophysiology mapping technology [1][2][3] - The MAGiC Sweep is the first robotically navigated high-density electrophysiology mapping catheter, enhancing the diagnosis and treatment of complex arrhythmias [1][2] Company Overview - Stereotaxis is a pioneer in surgical robotics for minimally invasive endovascular interventions, focusing on the development of robotic systems and instruments to improve patient care [3] - The company has treated over 150,000 patients globally, showcasing its commitment to advancing robotic technology in healthcare [3] Product Features - The MAGiC Sweep catheter is equipped with 20 electrodes for rapid and detailed electroanatomical mapping of heart chambers [4] - It integrates seamlessly with Stereotaxis' robotic systems, allowing precise navigation to challenging areas of the heart [4] - The catheter's atraumatic design prioritizes patient safety and supports anatomically accurate mapping by minimizing distortion [4] - It enhances workflow efficiency in robotic procedures, particularly with the development of automated mapping algorithms [4] Industry Impact - The introduction of the MAGiC Sweep catheter is expected to significantly improve cardiac ablation procedures by providing more efficient and detailed mapping of arrhythmias [2] - Experts in the field view this development as a major milestone that will positively impact patient outcomes and expand the capabilities of robotic electrophysiology [2]

Core Viewpoint - Stereotaxis will release its financial results for the second quarter of 2025 on August 7, 2025, and will host a conference call to discuss these results and corporate developments [1][2]. Company Overview - Stereotaxis is a pioneer and global leader in surgical robotics for minimally invasive endovascular intervention, focusing on the discovery, development, and delivery of robotic systems and solutions for interventional laboratories [4]. - The company's technology has been utilized to treat over 150,000 patients globally, enhancing patient care with robotic precision and safety [4]. Conference Call Details - The conference call will take place on August 7, 2025, at 4:30 p.m. ET, with dial-in numbers provided for both U.S. and international participants [2]. - A replay of the call will be available for one month following the event [3].

Core Viewpoint - Stereotaxis, Inc. has announced a registered direct offering to sell approximately $12.5 million of its common stock at a price of $2.00 per share, aimed at accelerating product commercialization and supporting research and development efforts [1][2]. Group 1: Offering Details - The gross proceeds from the offering are expected to be around $12.5 million, with an initial closing of approximately $8.5 million expected on or about July 18, 2025, and a second closing of $4.0 million scheduled for on or before November 25, 2025 [3]. - Lake Street Capital Markets LLC is acting as the exclusive placement agent for the offering [3]. Group 2: Use of Proceeds - Proceeds from the offering will be utilized to accelerate product commercialization, support research and development, and for other corporate purposes [2]. Group 3: Company Overview - Stereotaxis is a leader in surgical robotics for minimally invasive endovascular intervention, with a mission to develop robotic systems and solutions that enhance patient care and operational efficiency [6]. - The company's technology has been used to treat over 150,000 patients globally, indicating a significant market presence [6].

Core Insights - Stereotaxis (STXS) announced initial clinical results for its MAGiC catheter, marking the first peer-reviewed evidence of its safety and efficacy in treating cardiac arrhythmias [1][4] - The MAGiC catheter is the first robotic, fully integrated radiofrequency ablation catheter designed for use with Stereotaxis' Robotic Magnetic Navigation system, demonstrating consistent navigation accuracy and a strong safety profile [2][4] Company Performance - Following the announcement, STXS shares remained flat, with a year-to-date decline of 3.5%, compared to the industry's 7.4% decline and the S&P 500's gain of 6.3% [3] - The company currently has a market capitalization of $189.2 million [6] Clinical Study Results - The MAGiC catheter study involved 67 patients, showing an acute efficacy rate of 94% and a low procedure-related adverse event rate of 1.5% [7][8] - The study reported no adverse events linked to catheter malfunction, with an average procedure time of 83 minutes [8] Technological Advancements - The MAGiC catheter demonstrated improved stability, steady tip temperatures during ablation, and low irrigation rates, enhancing safety and efficiency in robotic ablation procedures [9] - These advancements are expected to boost physician confidence and accelerate the adoption of Stereotaxis' robotic system [4] Industry Outlook - The global market for robotic catheterization systems is projected to grow from $54.4 million in 2025 to $190.2 million by 2035, driven by the demand for minimally invasive procedures [10][11]

Core Insights - Stereotaxis, Inc. (NYSE: STXS) is making significant advancements in robotic interventional cardiology while the market remains underweight on the stock [1] - The company is expected to see recurring revenue growth exceeding 25% over the next 18 months [1] Company Overview - Stereotaxis is focused on innovating within the robotic interventional cardiology space, which is gaining attention amidst the broader focus on generative AI [1] - The market perception of Stereotaxis is currently undervalued, presenting a potential investment opportunity [1] Financial Outlook - The anticipated growth in recurring revenue indicates a positive shift in the company's financial trajectory, suggesting strong future performance [1]

Core Insights - Stereotaxis has published initial clinical results of the MAGiC catheter in a peer-reviewed journal, demonstrating its efficacy and safety for minimally invasive endovascular interventions [1][2]. Company Overview - Stereotaxis is a pioneer in surgical robotics for minimally invasive endovascular interventions, with a mission to develop robotic systems and solutions that enhance patient care and operating room efficiency [6]. Clinical Study Details - The study involved a prospective multi-center, single-arm design, treating 67 patients with various arrhythmias, including atrial fibrillation and ventricular tachycardia, with ongoing enrollment expected to reach around 100 patients [2][3]. - The acute efficacy of the MAGiC catheter was reported at 94%, with an average procedure time of 83 minutes and a procedure-related adverse event rate of 1.5% [3]. Product Features - The MAGiC catheter is designed for cardiac ablation procedures, enhancing treatment precision and control while maintaining safety through its soft flexible design [4]. - The catheter has shown improved stability, not requiring sheaths for support, and maintaining steady temperatures during ablation, which benefits patients with compromised cardiac and renal function [3][4]. Market Presence - Stereotaxis' robotic technologies have been utilized in over 100 leading hospitals globally, treating more than 150,000 patients [4].