Stereotaxis (NYSE: STXS) Q1 revenue dips as FDA clearances and Robocath deal advance
Rhea-AI Filing Summary
Stereotaxis, Inc. reported first quarter 2026 results alongside major strategic and regulatory milestones. Revenue was $6.3 million, down from $7.5 million in the prior-year quarter, with systems revenue of $1.3 million and recurring revenue of $5.0 million.
Gross margin was 60%, and the company posted an operating loss of $6.0 million and net loss of $5.9 million. Adjusted operating expenses were $6.7 million, roughly flat versus the prior year, and negative free cash flow was $3.5 million. Stereotaxis ended March 31, 2026 with $14.6 million in cash and no debt.
The company highlighted U.S. FDA approval of its MAGiC robotically-navigated catheter in January and Synchrony digital operating room system in April, both now in commercial use. It also signed a definitive agreement to acquire Robocath, expanding its robotic platform. Stereotaxis expects double-digit revenue growth in 2026, total revenue above $40 million, and third- and fourth-quarter revenue each above $10 million, supported by manufacturing ramps for GenesisX and MAGiC.
Positive
- Strong strategic and regulatory progress: U.S. FDA approval of the MAGiC catheter and clearance of the Synchrony system, plus a definitive agreement to acquire Robocath, significantly expand Stereotaxis’ robotic and digital surgery platform.
- Growth outlook and scale targets: Management anticipates double-digit revenue growth in 2026, with annual revenue surpassing $40 million and both third and fourth quarter revenue exceeding $10 million, supported by manufacturing ramps for GenesisX and MAGiC.
Negative
- Revenue decline and higher cash burn: Q1 2026 revenue fell to $6.3 million from $7.5 million in the prior-year quarter, and negative free cash flow widened to $(3.5) million, increasing pressure on the company’s $14.6 million cash balance.
Insights
Regulatory wins and M&A offset near-term revenue softness.
Stereotaxis combines mixed quarterly results with meaningful strategic progress. Q1 2026 revenue was $6.3 million versus $7.5 million a year earlier, and net loss remained around $5.9 million. Gross margin at 60% shows the core platform retains attractive economics despite transition headwinds.
Two key U.S. FDA decisions—approval of the MAGiC cardiac ablation catheter and clearance of the Synchrony digital surgery system—bring a new product ecosystem to market. The definitive agreement to acquire Robocath adds a complementary robotic mechanism, broadening potential applications in electrophysiology, interventional cardiology and neurointerventions.
The company guides to double-digit revenue growth in 2026, with annual revenue expected to exceed $40 million and both Q3 and Q4 revenue above $10 million. Execution will depend on scaling MAGiC and GenesisX manufacturing and integrating Robocath, while managing cash of $14.6 million and negative free cash flow of $3.5 million in the quarter.
8-K Event Classification
Key Figures
Key Terms
MAGiC cardiac ablation catheter medical
Synchrony digital operating room system medical
free cash flow financial
convertible preferred stock financial
contingent consideration financial
deferred revenue financial
Earnings Snapshot
Company anticipates double-digit revenue growth in 2026, with annual revenue expected to surpass $40 million and Q3 and Q4 revenue each expected to exceed $10 million.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM
CURRENT REPORT
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| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||
| Item 2.02 | Results of Operations and Financial Condition |
On May 12, 2026, Stereotaxis, Inc. (the “Company”) issued a press release (the “Earnings Press Release”) setting forth its financial results for the 2026 first quarter. A copy of the Earnings Press Release is being filed as Exhibit 99.1 hereto, and the statements contained therein are incorporated by reference herein.
Forward-Looking Statements and Additional Information
Statements are made herein or incorporated herein that are “forward-looking statements” as defined by the Securities and Exchange Commission (the “SEC”). All statements, other than statements of historical fact, included or incorporated herein that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements are not guarantees of future events or the Company’s future performance and are subject to risks, uncertainties and other important factors that could cause events or the Company’s actual performance or achievements to be materially different than those projected by the Company. For a full discussion of these risks, uncertainties and factors, the Company encourages you to read its documents on file with the SEC. Except as required by law, the Company does not intend to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.
In accordance with General Instruction B.2. of Form 8-K, the information contained in Item 2.02 and Exhibit 99.1 attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall they be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
| Item 9.01 | Financial Statements and Exhibits |
| (d) | Exhibits. |
| 99.1 | Stereotaxis, Inc. Earnings Press Release dated May 12, 2026. |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| STEREOTAXIS, INC. | ||
| Date: May 12, 2026 | By: | /s/ Kimberly R. Peery |
| Name: | Kimberly R. Peery | |
| Title: | Chief Financial Officer | |
Exhibit 99.1
Stereotaxis Reports 2026 First Quarter Financial Results & Business Updates
| ● | Proprietary robotically-navigated MAGiC catheter received U.S. FDA approval in January and is now being utilized at multiple sites across the United States as well as Europe | |
| ● | Synchrony digital operating room system received U.S. FDA clearance in April and initial orders and shipments are ongoing | |
| ● | Definitive agreement to acquire Robocath creates a leading robotic platform, combining complementary technologies to deliver next-generation fully-integrated robotic solutions for the full spectrum of endovascular procedures |
St. Louis, MO, May 12, 2026 (Globe Newswire) – Stereotaxis (NYSE: STXS), a pioneer and global leader in surgical robotics for minimally invasive endovascular intervention, today reported business updates and financial results for the first quarter ended March 31, 2026.
“Stereotaxis is in one of the most exciting periods of its history. We are achieving significant regulatory approvals, executing strategic acquisitions, and witnessing the initial green shoots of commercial success with our new product ecosystem,” said David Fischel, Stereotaxis Chairman and CEO. “The operational and commercial friction to ramp up manufacturing and implement new products makes progress gradual, but we are efficiently driving broad-based progress on many fronts in parallel towards an attractive business built on solid foundations.”
“The streak of regulatory success that began last year continued in the first part of this year with two essential FDA approvals for the MAGiC cardiac ablation catheter and Synchrony digital surgery system. These regulatory approvals brought to market an entirely new foundational product ecosystem that structurally changes our commercial opportunity. We essentially developed a fresh start-up company on the shoulders of our legacy technology and funded by our legacy business.”
“The transformational agreement to acquire Robocath gives Stereotaxis a fully complementary and separate robotic mechanism of action for endovascular device navigation. The combination of our technologies offers a clear vision for how our robotic solution, including the full ecosystem of digital innovations, will enable remote, automated and fully robotic treatment for electrophysiology, interventional cardiology and neurointerventions.”
“The still minor revenue contribution from our new catheters is being countered by the headwind of winding down our relationship with Johnson & Johnson. Demand for MAGiC far exceeds supply, and we are rolling out the catheter in both Europe and the US in line with the manufacturing ramp, which continues to progress towards an expected 500 catheters a month by year end. Initial green shoots of adoption demonstrate the strength of our strategy to build a synergistic portfolio of catheters, with disposable revenue per procedure several fold higher than previously. This structural transformation to our disposable business model is taking place as we simultaneously structurally transform our capital business and prepare for multiple GenesisX placements.”
2026 First Quarter Financial Results
Revenue for the first quarter of 2026 totaled $6.3 million compared to $7.5 million in the prior year first quarter. System revenue of $1.3 million and recurring revenue of $5.0 million compared to $2.0 million and $5.5 million respectively, in the prior year first quarter. System revenue in the quarter reflects partial revenue recognition on the installation of one Genesis system and other ancillary systems. Recurring revenue is pressured by the transition away from the dependency on legacy J&J catheters with still modest contributions from Stereotaxis’ new proprietary catheters.
Gross margin for the first quarter of 2026 was 60% of revenue. Recurring revenue gross margin was 66%, and system gross margin was 39%. Operating expenses in the quarter of $9.8 million included $3.1 million in non-cash charges for stock compensation expense, mark-to-market adjustment for acquisition related contingent earnout consideration, and amortization of acquired intangible assets. Excluding these non-cash charges, adjusted operating expenses were $6.7 million, compared to the prior year adjusted operating expenses of $6.8 million.
Operating loss and net loss in the first quarter of 2026 were ($6.0) million and ($5.9) million, respectively, compared with ($5.9) million and ($5.8) million in the previous year. Adjusted operating loss and adjusted net loss for the quarter, excluding non-cash charges, were ($2.9) million and ($2.8) million, respectively, compared with ($2.7) million and ($2.6) million in the previous year quarter. Negative free cash flow for the first quarter was ($3.5) million, compared to ($1.8) million in the previous year.
Cash Balance and Liquidity
At March 31, 2026, Stereotaxis had cash and cash equivalents of $14.6 million and no debt.
Forward Looking Expectations
Stereotaxis anticipates double digit revenue growth for the full year 2026, with annual revenue expected to surpass $40 million. Revenue will grow sequentially over the course of the year in line with manufacturing increases for GenesisX and MAGiC, with revenue in both the third and fourth quarters expected to exceed $10 million.
Stereotaxis believes it can advance its strategy, integrate Robocath, and grow significantly without having to subject investors to substantial dilution. The Company expects its balance sheet to allow it to advance its transformative product ecosystem to market, fund its commercialization, and achieve profitability.
Conference Call and Webcast
Stereotaxis will host a conference call and webcast today, May 12, 2026, at 4:30 p.m. Eastern Time. To access the conference call, dial 800-715-9871 (US and Canada) or 646-307-1963 (International) and give the participant pass code 6082771. To access the live and replay webcast, please visit the investor relations section of the Stereotaxis website at www.Stereotaxis.com.
About Stereotaxis
Stereotaxis (NYSE: STXS) is a pioneer and global leader in innovative surgical robotics for minimally invasive endovascular intervention. Its mission is the discovery, development and delivery of robotic systems, instruments, and information solutions for the interventional laboratory. These innovations help physicians provide unsurpassed patient care with robotic precision and safety, expand access to minimally invasive therapy, and enhance the productivity, connectivity, and intelligence in the operating room. Stereotaxis technology has been used to treat over 150,000 patients across the United States, Europe, Asia, and elsewhere. For more information, please visit www.Stereotaxis.com.
This press release includes statements that may constitute “forward-looking” statements, usually containing the words “believe”, “estimate”, “project”, “expect” or similar expressions. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially. Factors that would cause or contribute to such differences include, but are not limited to, the Company’s ability to manage expenses at sustainable levels, acceptance of the Company’s products in the marketplace, the effect of global economic conditions, including tariffs, on the ability and willingness of customers to purchase its technology, competitive factors, changes resulting from healthcare policy, dependence upon third-party vendors, timing of regulatory approvals, the impact of pandemics or other disasters, statements relating to our recent acquisitions, including any benefits expected from the acquisitions, and other risks discussed in the Company’s periodic and other filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release. There can be no assurance that the Company will recognize revenue related to its purchase orders and other commitments because some of these purchase orders and other commitments are subject to contingencies that are outside of the Company’s control and may be revised, modified, delayed, or canceled.
Company Contacts:
David L. Fischel
Chairman and Chief Executive Officer
Kimberly R. Peery
Chief Financial Officer
314-678-6100
Investors@Stereotaxis.com
Stereotaxis, Inc.
CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
| (in thousands, except share and per share amounts) | Three Months Ended March 31, | |||||||
| 2026 | 2025 | |||||||
| Revenue: | ||||||||
| Systems | $ | 1,319 | $ | 1,964 | ||||
| Disposables, service and accessories | 4,972 | 5,508 | ||||||
| Total revenue | 6,291 | 7,472 | ||||||
| Cost of revenue: | ||||||||
| Systems | 804 | 1,667 | ||||||
| Disposables, service and accessories | 1,693 | 1,741 | ||||||
| Total cost of revenue | 2,497 | 3,408 | ||||||
| Gross margin | 3,794 | 4,064 | ||||||
| Operating expenses: | ||||||||
| Research and development | 2,397 | 2,350 | ||||||
| Sales and marketing | 2,617 | 3,148 | ||||||
| General and administrative | 4,761 | 4,495 | ||||||
| Total operating expenses | 9,775 | 9,993 | ||||||
| Operating loss | (5,981 | ) | (5,929 | ) | ||||
| Other income | (5 | ) | - | |||||
| Interest income, net | 125 | 106 | ||||||
| Net loss | $ | (5,861 | ) | $ | (5,823 | ) | ||
| Cumulative dividend on convertible preferred stock | (311 | ) | (314 | ) | ||||
| Net loss attributable to common stockholders | $ | (6,172 | ) | $ | (6,137 | ) | ||
| Net loss per share attributed to common stockholders: | ||||||||
| Basic | $ | (0.06 | ) | $ | (0.07 | ) | ||
| Diluted | $ | (0.06 | ) | $ | (0.07 | ) | ||
| Weighted average number of common shares and equivalents: | ||||||||
| Basic | 98,891,179 | 87,769,366 | ||||||
| Diluted | 98,891,179 | 87,769,366 | ||||||
STEREOTAXIS, INC.
CONSOLIDATED BALANCE SHEETS
| (in thousands, except share amounts) | March 31, 2026 | December 31, 2025 | ||||||
| (Unaudited) | ||||||||
| Assets | ||||||||
| Current assets: | ||||||||
| Cash and cash equivalents | $ | 14,616 | $ | 13,421 | ||||
| Accounts receivable, net of allowance of $630 and $541 at 2026 and 2025, respectively | 5,303 | 5,847 | ||||||
| Insurance receivable | 4,316 | 4,316 | ||||||
| Inventories, net | 10,495 | 9,567 | ||||||
| Prepaid expenses and other current assets | 1,297 | 698 | ||||||
| Total current assets | 36,027 | 33,849 | ||||||
| Property and equipment, net | 2,956 | 3,019 | ||||||
| Goodwill | 3,764 | 3,764 | ||||||
| Intangible assets, net | 6,193 | 6,429 | ||||||
| Operating lease right-of-use assets | 4,760 | 4,912 | ||||||
| Prepaid and other non-current assets | 330 | 278 | ||||||
| Total assets | $ | 54,030 | $ | 52,251 | ||||
| Liabilities and stockholders’ equity | ||||||||
| Current liabilities: | ||||||||
| Accounts payable | $ | 4,823 | $ | 4,768 | ||||
| Accrued liabilities | 1,478 | 2,065 | ||||||
| Accrued legal liabilities | 4,316 | 4,316 | ||||||
| Deferred revenue | 6,541 | 5,675 | ||||||
| Current contingent consideration | 5,266 | 4,894 | ||||||
| Current portion of operating lease liabilities | 662 | 642 | ||||||
| Total current liabilities | 23,086 | 22,360 | ||||||
| Long-term deferred revenue | 523 | 555 | ||||||
| Long-term contingent consideration | 5,108 | 4,724 | ||||||
| Operating lease liabilities | 4,618 | 4,794 | ||||||
| Other liabilities | 1,097 | 1,097 | ||||||
| Total liabilities | 34,432 | 33,530 | ||||||
| Series A - Convertible preferred stock: | ||||||||
| Convertible preferred stock, Series A, par value $0.001; 10,000,000 shares authorized, 21,008 shares outstanding at 2026 and 2025 | 5,240 | 5,240 | ||||||
| Stockholders’ equity: | ||||||||
| Common stock, par value $0.001; 300,000,000 shares authorized, 97,491,248 and 95,339,628 shares issued at 2026 and 2025, respectively | 97 | 95 | ||||||
| Additional paid-in capital | 603,696 | 596,960 | ||||||
| Treasury stock, 4,015 shares at 2026 and 2025 | (206 | ) | (206 | ) | ||||
| Accumulated deficit | (589,229 | ) | (583,368 | ) | ||||
| Total stockholders’ equity | 14,358 | 13,481 | ||||||
| Total liabilities and stockholders’ equity | $ | 54,030 | $ | 52,251 | ||||