Stereotaxis, Inc. (美国思瑞泰心国际公司) - Global Leader in Robotic Magnetic Navigation for Cardiac Interventi

Company Overview (Updated April 2026)

Stereotaxis, Inc. (美国思瑞泰心国际公司) is a U.S.-based medical robotics company headquartered in Saint Louis, Missouri. Founded in 1990 and incorporated as a public company, Stereotaxis has established itself as the global pioneer and leader in robotic magnetic navigation (RMN) systems for minimally invasive endovascular intervention. The company's mission is to discover, develop, and deliver robotic systems, instruments, and information solutions for the interventional laboratory, enabling physicians to provide unsurpassed patient care with robotic precision and safety.

Clinical Impact: Stereotaxis technology has been used to treat over 150,000 patients across the United States, Europe, Asia, and other global markets. The company's systems are present in major medical centers worldwide, providing computer-controlled magnetic guidance for cardiac catheter ablation and other endovascular procedures.

Financial Performance (2025)

Full Year 2025 Results

Revenue: $32.4 million (20% increase from $26.9 million in 2024)

- System Revenue: $10.2 million (18% growth), including Genesis and GenesisX robot sales

- Recurring Revenue: $22.2 million (21% growth), including MAGiC catheter contributions and service contracts

Gross Margin: 53% for full year 2025 (67% for recurring revenue, 21% for systems)

Net Loss: $21.6 million (improved from $24.0 million in 2024)

Adjusted Operating Loss: $9.3 million (compared to $12.4 million in 2024)

Cash Position: $13.4 million at December 31, 2025 (no debt)

Fourth Quarter 2025 Highlights

- Q4 Revenue: $8.6 million (36% increase from $6.3 million in Q4 2024)

- System Revenue: $3.3 million (primarily from two Genesis systems)

- Recurring Revenue: $5.3 million (contributions from MAGiC Sweep in US and MAGiC in Europe)

- System Backlog: $9.1 million entering 2026

Technology Platforms & Products

Robotic Magnetic Navigation (RMN) Systems

Genesis RMN:

- Advanced robotic system enabling image-guided delivery of catheters and guidewires through blood vessels and heart chambers

- Computer-controlled magnetic field technology for precise, sub-millimeter navigation

- Proven clinical platform with extensive global installed base

GenesisX RMN (Next Generation):

- Launched 2025: FDA approved and CE marked, designed to enhance accessibility of RMN technology

- Rapid Installation: Eliminates lengthy construction cycle required for prior generation systems

- Demonstrated Successfully: At EHRA and HRS 2025 conferences, showcasing rapid installation capabilities

Proprietary Catheters & Disposables

MAGiC Ablation Catheter:

- FDA Approved 2024: Proprietary catheter for cardiac ablation procedures

- Production Ramp: Targeting 500 catheters per month by end of 2026

- Europe Launch: Initial commercialization in European markets underway

- Pulsed Field Ablation (PFA): Planned European launch of MAGiC with PFA capabilities

MAGiC Sweep High-Density Mapping Catheter:

- FDA approved and launched in US market

- Contributing to recurring revenue growth in Q4 2025

Information & Digital Solutions

Odyssey: Real-time information solution to manage, control, record, and share procedures across networks

Synchrony Digital Surgery Suite (Development):

- Digital solution for the endovascular surgical suite

- FDA Approval Target: 2026

- Revenue Target: Over $3 million in 2026

- AI Integration: First AI features under development

Strategic Acquisition: Robocath (April 15, 2026)

Transaction Overview

- Deal Value: Up to $45 million for French vascular intervention robotics company Robocath

- Payment Structure: $20 million upfront plus up to $25 million in contingent milestone payments tied to regulatory and commercial achievements (including FDA clearance of Robocath's next-generation system)

- Payment Method: Payable in cash or Stereotaxis common stock, at Stereotaxis' discretion

- Expected Closing: Mid-2026 (subject to debt restructuring, French regulatory approvals, and other customary closing conditions)

- Post-Closing Structure: Robocath to operate as a wholly owned subsidiary of Stereotaxis

Robocath Technology & Strategic Rationale

Robocath Profile:

- Headquarters: Rouen, France

- Founder & CEO: Philippe Bencteux

- Flagship Product: R-One+™ system—the only commercially available robotic solution for percutaneous coronary interventions (PCI) in Europe

- Global Installations: 15 commercial R-One+ systems installed worldwide

- Next-Generation Development: System designed to enable simultaneous manipulation of up to five interventional devices; initial first-in-human procedures recently completed in France

- IP Portfolio: Robust intellectual property portfolio supporting differentiated technologies

Strategic Synergies:

- Technology Complementarity: Stereotaxis' magnetic navigation (distal tip control) + Robocath's mechanical robotics (multi-device bedside control) = comprehensive robotic platform

- Market Expansion: Accelerates entry into interventional cardiology and neurointerventions (mechanical robotics) while maintaining leadership in electrophysiology (magnetic navigation)

- Revenue Contribution: Robocath expected to contribute approximately $2 million in annual revenue during first year post-acquisition

- Break-Even Timeline: Acquisition expected to become breakeven by third year post-acquisition

- Regulatory Pathway: Stereotaxis plans to accelerate development and pursue FDA/regulatory submissions in US and Europe within two years

2026 Strategic Milestones

Four Key Goals for 2026:

1. GenesisX Robot: Establish at least five active GenesisX programs with global EP key opinion leaders; demonstrate accessibility with rapid installations in existing labs

2. MAGiC & MAGiC Sweep Catheters: Ramp manufacturing to 500 catheters/month by year-end; transition EP customers to new catheters; launch MAGiC with Pulsed Field Ablation in Europe

3. Endovascular Robotics: Demonstrate comprehensive strategy for technological leadership in robotics across interventional cardiology and neurointerventions (via Robocath integration)

4. Synchrony Digital Surgery Suite: Receive FDA approval, deliver over $3 million revenue, complete development of first AI features

Corporate Information (2026)

Company Profile

Legal Name: Stereotaxis, Inc.

Chinese Name: 美国思瑞泰心国际公司

Founded: 1990

Headquarters: Saint Louis, Missouri, USA

Stock Symbol: STXS (NYSE American)

Employees: 139-189 (full-time, as of 2025-2026)

Industry: Medical Instruments & Supplies / Surgical Devices

Website: www.stereotaxis.com

Leadership Team

David L. Fischel, CFA, CPA, MBA, CAIA: Chairman & Chief Executive Officer (since 2017)

Kimberly R. Peery, CPA: Chief Financial Officer

Keith Galloway: Vice President of Operations

Patricia S. Williams, Esq.: General Counsel & Secretary

2026 Outlook

Revenue Expectations:

- Target: Double-digit revenue growth for full year 2026; surpass $40 million annual revenue

- Both system and recurring revenue expected to increase throughout the year in line with manufacturing ramps for GenesisX and MAGiC

Profitability Path:

- Reduced cash use expected in 2026 compared to 2025

- Positive cash flow from working capital anticipated following $5.6 million investment in 2025

- Balance sheet positioned to fund commercialization, integrate Robocath acquisition, and achieve profitability

Key Differentiators

- Technology Leadership: Pioneer and only magnetic navigation robot with comprehensive FDA-approved ecosystem in electrophysiology

- Dual-Robot Strategy: Unique position combining magnetic navigation (Stereotaxis) and mechanical robotics (Robocath) to address full spectrum of endovascular procedures

- Clinical Proven: 30+ years of innovation, 150,000+ patient treatments, extensive peer-reviewed clinical evidence

- Integrated Platform: Complete solution from robotic system to proprietary catheters to digital information solutions

- Accessibility Innovation: GenesisX eliminates traditional installation barriers, expanding addressable market

- Recurring Revenue Model: High-margin disposable catheters and service contracts provide stable revenue base (67% gross margin on recurring revenue)

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