Stereotaxis Reports 9% Revenue Increase to $7.5 Million in Q1 2025

Stereotaxis, Inc. reported a revenue increase of 9% for the first quarter of 2025, totaling $7.5 million compared to $6.9 million in the same period of 2024. The revenue from system sales decreased to $2.0 million from $2.6 million, attributed to volume changes in system-related products. However, revenue from disposable interventional devices, services, and accessories rose significantly to approximately $5.5 million, up from $4.3 million, driven by post-acquisition sales of non-magnetic disposable devices. The company's gross margin decreased to 54% from 58%, primarily due to changes in product mix and acquisition-related accounting adjustments.

Operating expenses for Stereotaxis increased to $9.99 million in Q1 2025, up from $8.71 million in Q1 2024. This rise was largely due to a 30% increase in general and administrative expenses, which reached $4.5 million, driven by acquisition-related costs and higher administrative expenses. Research and development expenses saw a modest increase of 5%, totaling $2.3 million, while sales and marketing expenses also rose by 5% to $3.1 million. The company reported a net loss of $5.8 million for the quarter, compared to a net loss of $4.5 million in the prior year.

In terms of strategic developments, Stereotaxis completed the acquisition of Access Point Technologies EP, Inc. (APT) on July 31, 2024. This acquisition is expected to enhance Stereotaxis' capabilities in developing a range of interventional devices for electrophysiology and other endovascular procedures. The integration of APT is ongoing, and the company anticipates that it will provide in-house catheter development and manufacturing expertise, which is critical for future innovation.

As of March 31, 2025, Stereotaxis had cash and cash equivalents of $10.7 million, down from $12.4 million at the end of 2024. The company reported a working capital of $1.7 million, a decrease from $4.8 million at the end of the previous year. Cash used in operating activities was approximately $1.8 million, a reduction from $2.3 million in the same period last year. The company continues to monitor macroeconomic conditions and supply chain disruptions, which could impact future operations and financial performance.

Looking ahead, Stereotaxis plans to advance the adoption of its robotic magnetic navigation systems and proprietary devices in markets where regulatory clearance has been received. The company expects to incur additional losses in 2025 as it continues to invest in product development and commercialization efforts. While management believes that existing cash resources will be sufficient to fund operations for the next twelve months, they acknowledge the potential need for additional funding depending on market conditions and operational demands.