Stereotaxis Posts 20% Revenue Gain to $32.4M, Guides $40M+ Next Year
Stereotaxis reported 2025 revenue of $32.4 million, a 20% increase year-over-year, with Q4 revenue up 36% to $8.6 million and system backlog of $9.1 million at year-end. Adjusted net loss narrowed to $8.8 million from $11.7 million in 2024, and cash rose to $13.4 million with zero debt as it raised $3.1 million via an ATM offering at $3.17 per share.
1. 2025 Financial Results
Full year 2025 revenue totaled $32.4 million, up 20% from $26.9 million in 2024. Q4 revenue reached $8.6 million, a 36% increase, including $3.3 million in system sales and $5.3 million in recurring revenue. System backlog stood at $9.1 million entering 2026.
2. Profitability and Margins
Gross margins were approximately 53% for the full year and 50% in Q4, with recurring margins at 67% and system margins at 21%. Adjusted operating loss improved to $9.3 million from $12.4 million, and adjusted net loss narrowed to $8.8 million from $11.7 million year-over-year.
3. Cash, Liquidity and Funding
Stereotaxis ended 2025 with $13.4 million in cash and cash equivalents and zero debt. During Q4, the company raised $3.1 million through at-the-market equity sales at an average price of $3.17 per share.
4. 2026 Outlook and Milestones
The company projects 2026 revenue exceeding $40 million driven by ramped manufacturing of GenesisX and MAGiC products. Key milestones include five active GenesisX programs, MAGiC catheter output of 500 units per month, FDA approval of its digital surgery suite, and positive cash flow from working capital.