revenue
7–7 $million
Q3 2026
official guidance
STEREOTAXIS, INC.
Last · NYSE American$1.14+0.03 (+2.70%)stale · yahoo · 59h ago
Market cap$114.23M100.2M sh
P/E · TTM-4.7fwd -7.4 · eps -0.24 · loss
Beta1.37vs S&P 500
Div yield0.00%annual · TTM
52w range
$1.08$3.20
Volume460.6Ksession
| Revenue | $32.4M |
|---|---|
| Operating income | $-22.1M |
| Net income | $-22.9M |
| Free cash flow | $-13.8M |
| Operating margin | -68.3% |
| Net margin | -70.8% |
| Return on equity | -122.4% |
| Period | 2025 |
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OpenFilings analyst
Our analyst
Agentic read of the latest earnings call — recommendation updates when we process a new transcript. Research synthesis, not investment advice.
Strong BuyBuyHoldSellStrong Sell
cautiously constructive, but not yet a clean buy.
The proprietary-catheter transition is working—recurring revenue reached $6.2 million, catheter revenue rose 270% sequentially, and U.S. ASPs are $5,000–$8,000 per procedure—but total revenue fell to $7.7 million, adjusted operating loss was $2.1 million, and cash was only $10.5 million against $3.7 million of quarterly negative free cash flow. The bull case is a supply-unlocked MAGiC ramp; the key tension is that both catheter growth and GenesisX commercialization remain execution-dependent.
Themes
- Magic Catheter
- Catheter Supply Constraint
- Genesisx
- Synchrony
- Johnson Johnson Transition
- Robocath Acquisition
Near term
Catheter availability is the immediate gating factor: management said customer orders exceed Osypka’s supply, with backlog still outstanding. The Q3/Q4 recurring-revenue targets of $7 million and $8 million therefore depend more on manufacturing output than demand.
Q3 is seasonally weaker for procedures, particularly in Europe, adding risk to the recurring-revenue ramp during the next quarter.
Second-half systems guidance requires approximately one robotic system revenue recognition in each of Q3 and Q4, plus roughly $1 million of Synchrony revenue per quarter; installation and delivery timing remain important.
GenesisX execution should be watched closely: the first U.S. academic-center installation and the European installation are expected by year-end, but management acknowledged that customers want proof of reliable real-world operation and X-ray compatibility before committing.
Longer term
If MAGiC and related proprietary catheters displace most historical Johnson & Johnson usage, Stereotaxis could shift toward a higher-value recurring model; management targets recurring gross margins in the mid-70% range as manufacturing volumes scale.
The installed base provides a starting point—over 150,000 patients treated at more than 100 hospitals—but management acknowledged the company still has only a fraction of a percent share in electrophysiology and no presence yet in interventional cardiology or neurointervention.
GenesisX’s ability to work with standard, non-modified X-ray systems could materially expand the addressable market by avoiding costly lab construction, but the commercial moat is not established until compatibility and reliability are demonstrated across multiple OEMs.
Robocath, EMAGIN devices, wireless/mobile robotics, automation, and AI could broaden Stereotaxis beyond EP, but these are multi-year opportunities with limited current financial contribution and added execution complexity.
Red flags
The CFO-level profitability case was not quantified: management cited conservative, base, and scenario analyses but did not provide a revenue threshold, detailed opex assumptions, working-capital assumptions, or a cash runway bridge to first-half 2027 cash-flow profitability.
When pressed for quantitative GenesisX backlog and funnel data, management provided qualitative commentary rather than bookings, conversion, backlog, or installation figures. The stated goal of roughly five installations by year-end may therefore be difficult to underwrite.
The business remains exposed to a single contract manufacturer during the catheter ramp, while supply shortages are simultaneously constraining current revenue and delaying GenesisX adoption.
The transition away from Johnson & Johnson is causing procedure-related pressure and hospital-approval friction. Management expects most customers to switch within a year, but did not provide a quantified conversion schedule or evidence that all displaced volume will migrate to MAGiC.
The Robocath acquisition closed in July, but management offered no quantified integration cost, revenue contribution, or dilution/cash impact; this matters given the company’s $10.5 million cash balance and ongoing negative free cash flow.
Forward outlook
revenue
8–8 $million
Q4 2026
official guidance
revenue
3–3 $million
Q3 2026
official guidance
revenue
3–3 $million
Q4 2026
official guidance
OpenFilings analyst view from primary-source filings and earnings calls — not investment advice.
From latest 10-K · 2026-03-12
- Sbc Revenue High
- Operating Cf Burn
- Net Margin Sharply Negative
- Cash Conversion Weak
- Cash Runway Low
- Accumulated Deficit High
Red flags
- Sbc Revenue High — SBC/Revenue 30.4%
- Operating Cf Burn — Negative operating cash flow
- Net Margin Sharply Negative — Net margin -70.8%
- Cash Conversion Weak — Cash conversion (CFO/Rev) -42.3%
- Cash Runway Low — Cash runway ~1.0 years
- Accumulated Deficit High — Accumulated deficit / equity 3116%
Upcoming earnings
9:00 PM UTC+1
Period
Sep 2026
Est. EPS
−$0.06
Est. revenue
9.6M
Earnings transcripts
Press & signals
- GlobeNewswire
Stereotaxis Reports 2026 Second Quarter Financial Results & Business Updates
- GlobeNewswire
Stereotaxis Completes Acquisition of Robocath
Documents
FormReporting forFiledFlags