Financial Data and Key Metrics Changes - Revenue for Q2 2024 totaled $4.5 million, down from $7.9 million in Q2 2023, primarily due to delayed system deliveries [30] - System revenue was $0.2 million, while recurring revenue was $4.3 million compared to $3.3 million and $4.6 million in the prior year [30] - Gross margin for Q2 2024 was 74%, with recurring revenue gross margin at 76% and system gross margin at 22% [31] - Operating loss for Q2 2024 was $6 million, compared to $5.3 million in the previous year [32] - Cash and cash equivalents at June 30 were $15.2 million with no debt [32] Business Line Data and Key Metrics Changes - The company maintains a system backlog of $15.3 million as of the end of Q2 2024, indicating potential future revenue recognition [30] - The company expects to end the year with approximately $13 million in cash and no debt, reflecting confidence in upcoming revenue milestones [6][34] Market Data and Key Metrics Changes - The company has an active late-stage sales pipeline in all three key geographies, indicating strong market interest [6] - There are currently two Genesis systems in transit to European customers, with revenue recognition expected upon delivery [4] Company Strategy and Development Direction - The company is focused on strategic transformation, including the introduction of GenesisX and MAGiC, which are expected to enhance market presence and revenue potential [7][15] - The acquisition of Access Point Technologies (APT) is aimed at enhancing in-house catheter development and manufacturing capabilities, which will support future innovation [20][23] - The company plans to transition from a construction model to a placement model with GenesisX, simplifying installation and increasing accessibility for customers [11][13] Management's Comments on Operating Environment and Future Outlook - Management acknowledged disappointing quarterly results but expressed confidence in a significantly stronger second half of the year, expecting over $14 million in revenue [33][34] - The company is aware of macroeconomic challenges but believes it can navigate these through its existing pipeline and strategic initiatives [62] Other Important Information - The company has made significant progress in regulatory approvals for both GenesisX and MAGiC, with expectations for commercial launches in 2025 [14][15] - The company is advancing towards regulatory approval for the MAGiC catheter, which is crucial for its commercialization strategy [16][18] Q&A Session Summary Question: Can you provide an update on the MAGiC catheter and its CE mark status? - Management confirmed that two out of three areas of review for the CE mark have been passed, and they are awaiting microbiology questions [36][38] Question: What is the pricing strategy for GenesisX and its launch timeline? - Management indicated that GenesisX will command a premium over Genesis, with various sales models including outright purchase, leasing, and placement with disposable commitments [40][42] Question: Can you elaborate on the MAGiC-FEST study results? - Management stated that the MAGiC-FEST study is ongoing, with positive performance noted, and additional data is being prepared for publication [49][50] Question: How does the company plan to scale manufacturing for GenesisX? - Management expressed confidence in scaling manufacturing efficiently, with expectations to produce more systems than with previous models [58] Question: Are macroeconomic factors affecting capital equipment purchasing patterns? - Management acknowledged some macro headwinds but emphasized that they have a solid pipeline of engaged customers across key markets [62]

Stereotaxis Inc. (STXS) came out with a quarterly loss of $0.07 per share versus the Zacks Consensus Estimate of a loss of $0.04. This compares to loss of $0.07 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of -75%. A quarter ago, it was expected that this company would post a loss of $0.07 per share when it actually produced a loss of $0.06, delivering a surprise of 14.29%. Over the last four quarters, the company has surpasse ...

ST. LOUIS, Aug. 12, 2024 (GLOBE NEWSWIRE) -- Stereotaxis (NYSE: STXS), a pioneer and global leader in surgical robotics for minimally invasive endovascular intervention, today reported financial results for the second quarter ended June 30, 2024. "We made significant progress over the last quarter on strategic innovation efforts that are establishing a solid foundation upon which to build a substantial and successful company," said David Fischel, Chairman and CEO. "Key milestones achieved include successful ...

Latest innovation in Robotic Magnetic Navigation technology supports broad accessibility of robotics for minimally-invasive endovascular surgery GenesisX has obtained CE mark in Europe and has been submitted to the FDA for 510(k) clearance in the United States ST. LOUIS, Aug. 12, 2024 (GLOBE NEWSWIRE) -- Stereotaxis (NYSE: STXS), a pioneer and global leader in surgical robotics for minimally invasive endovascular intervention, today announced it obtained CE mark in Europe and submitted a 510(k) application ...

ST. LOUIS, July 22, 2024 (GLOBE NEWSWIRE) -- Stereotaxis (NYSE: STXS), a pioneer and global leader in surgical robotics for minimally invasive endovascular intervention, today announced that it will release financial results for its 2024 second quarter on Monday, August 12, 2024 at the close of the U.S. financial markets. The Company will host a conference call and webcast at 4:30 p.m. EST that day to discuss the Company's results and corporate developments. What: Stereotaxis second quarter 2024 financial r ...

ST. LOUIS, July 18, 2024 (GLOBE NEWSWIRE) -- Stereotaxis (NYSE: STXS), a pioneer in surgical robotics for minimally invasive endovascular intervention, today announced the appointment of Nachum "Homi" Shamir to its Board of Directors. Mr. Shamir most recently served as Chairman and Chief Executive Officer of Luminex Corporation from 2014 through its sale to DiaSorin S.p.A. for $1.8 Billion in 2021. Prior to Luminex, Mr. Shamir served as President and Chief Executive Officer of Given Imaging from 2006 throug ...

ST. LOUIS, May 29, 2024 (GLOBE NEWSWIRE) -- Stereotaxis (NYSE: STXS), a pioneer in surgical robotics for minimally invasive endovascular intervention, today announces the successful treatment of the first heart rhythm patients by Penn Presbyterian Medical Center (PPMC) utilizing the advanced Genesis Robotic Magnetic Navigation System. PPMC, part of the University of Pennsylvania Health System, renowned for advanced clinical research, innovation, and compassionate patient care, stands at the forefront as the ...

ST. LOUIS, May 29, 2024 (GLOBE NEWSWIRE) -- Stereotaxis (NYSE: STXS), a pioneer in surgical robotics for minimally invasive endovascular intervention, today announces the successful treatment of the first heart rhythm patients by Penn Presbyterian Medical Center (PPMC) utilizing the advanced Genesis Robotic Magnetic Navigation System. PPMC, part of the University of Pennsylvania Health System, renowned for advanced clinical research, innovation, and compassionate patient care, stands at the forefront as the ...

Stereotaxis (STXS) a pioneer in surgical robotics for minimally invasive endovascular intervention, recently announced its successful recertification under the European Union's Medical Device Regulation (MDR). This significant milestone, which covers all Stereotaxis devices currently available in Europe, marks a crucial advancement in the company's pursuit of excellence in the surgical robotics market. The News in Detail The MDR (Regulation (EU) 2017/745) replaces the previous European Medical Device Direct ...

Stereotaxis (STXS) recently announced that the first robotic cardiac heart program in Southern Italy had been developed at Hospital Santa Maria della Pietà, Nola. With the help of this cutting-edge technology, patients with heart rhythm abnormalities can now be effectively treated with robotic ablation treatments. Hospital Santa Maria della Pietà is the first hospital in Italy to use the latest generation of Genesis Robotic Magnetic Navigation (RMN) system. Price Performance For the past six months, STXS's ...