$Stereotaxis (STXS.US)$ NEWS Stereotaxis Reports 2024 First ...
NEWS
Stereotaxis Reports 2024 First Quarter Financial Results
Stereotaxis (NYSE: STXS), a leader in surgical robotics for minimally invasive endovascular intervention, reported financial results for Q1 2024, ending March 31. Revenue grew 5% YoY to $6.9M, with system revenue at $2.6M and recurring revenue at $4.3M. Gross margin was 58%. Operating expenses were $8.7M, including $2.6M in non-cash stock compensation. Adjusted operating expenses were $6.1M, down from $6.9M YoY. Operating loss and net loss were ($4.7M) and ($4.5M), respectively, improving from ($5.6M) and ($5.3M) YoY. Excluding non-cash expenses, adjusted operating and net loss were ($2.2M) and ($1.9M). Cash and equivalents stood at $18.2M with no debt. The company reported progress in regulatory submissions and technological advancements, including the MAGiC catheter and a new robot.
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