Stereotaxis Reports $6.3M Q1 Revenue, Secures FDA Approvals and Robocath Acquisition
Stereotaxis posted Q1 revenue of $6.3M—system $1.3M, recurring $5.0M—60% gross margin, net loss of $5.9M, and $14.6M in cash with no debt. FDA approved MAGiC catheter and Synchrony system, agreed to acquire Robocath, and forecasts over $40M revenue in 2026 with Q3 and Q4 each above $10M.
1. FDA Approvals and Product Rollout
In January, FDA approved the MAGiC robotically-navigated cardiac ablation catheter, now in use at multiple US and European sites, with manufacturing ramp targeting 500 units per month by year-end; April FDA clearance of the Synchrony digital operating room system led to initial orders and shipments.
2. First Quarter Financial Performance
Q1 revenue totaled $6.3M—system revenue $1.3M, recurring revenue $5.0M—down from $7.5M year-over-year; gross margin was 60%, operating loss $6.0M, net loss $5.9M, and cash flow negative $3.5M.
3. Robocath Acquisition
The definitive agreement to acquire Robocath will combine complementary robotic navigation technologies, aiming to create a fully integrated platform for electrophysiology, interventional cardiology, and neurointervention applications.
4. Outlook and Liquidity
With $14.6M in cash and no debt at March 31, Stereotaxis expects double-digit revenue growth to exceed $40M in 2026, forecasting Q3 and Q4 revenue above $10M, and plans to fund commercialization and profitability without substantial dilution.