Stereotaxis ( (STXS) ) has released its Q3 earnings. Here is a breakdown of the information Stereotaxis presented to its investors.
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Stereotaxis, a leader in surgical robotics for minimally invasive endovascular interventions, provides cutting-edge robotic systems that enhance patient care and operational efficiency in the medical field. In its third quarter of 2024, Stereotaxis reported a strong revenue growth of 18% year-over-year, driven primarily by the increasing demand for its Genesis robotic systems and successful integration of Access Point Technologies (APT). The company showcased advancements in its innovation strategy, including regulatory progress for its MAGiC ablation catheter and GenesisX robotic system, while also highlighting successful audits in China. Financially, Stereotaxis achieved $9.2 million in revenue, with a notable increase in both system and recurring revenues. Despite operating and net losses, the company maintained a solid balance sheet with over $13 million in cash and no debt by the end of October. Looking forward, Stereotaxis remains optimistic about continued revenue growth and aims to advance its product ecosystem and reach profitability without requiring additional financing.
