Stereotaxis, Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Stereotaxis, Inc. has filed its Q1 2024 10-Q report detailing financial performance and operational segments.</b>

AI Summary

Stereotaxis, Inc. (STXS) filed a Quarterly Report (10-Q) with the SEC on May 15, 2024. Stereotaxis, Inc. filed a 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of the fiscal year. The company's principal business is in Electromedical & Electrotherapeutic Apparatus. Key financial data points from previous periods are referenced. The filing includes details on various financial statement line items and segments.

Why It Matters

For investors and stakeholders tracking Stereotaxis, Inc., this filing contains several important signals. This 10-Q provides investors with the latest quarterly financial results and operational updates for Stereotaxis, Inc. Understanding these filings is crucial for assessing the company's financial health, strategic direction, and potential risks.

Risk Assessment

Risk Level: medium — Stereotaxis, Inc. shows moderate risk based on this filing. The filing is a standard 10-Q, indicating routine reporting requirements rather than immediate crisis, but the absence of specific financial performance highlights necessitates a cautious assessment.

Analyst Insight

Review the detailed financial statements and segment performance within the 10-Q to understand revenue trends and profitability drivers for Stereotaxis, Inc.

Key Numbers

• 2024-03-31 — Period of Report (10-Q filing)
• 2024-05-15 — Filing Date (10-Q filing)
• Q1 — Fiscal Quarter (Reporting period)

Key Players & Entities

• Stereotaxis, Inc. (company) — Filer name
• STXS (company) — Ticker symbol
• 2024-03-31 (date) — Period of report
• 2024-05-15 (date) — Filing date
• 3845 (industry) — Standard Industrial Classification
• ST.LOUIS (location) — Business address city

FAQ

Industry Context

Stereotaxis, Inc. operates within the Electromedical & Electrotherapeutic Apparatus industry, focusing on medical devices.

Regulatory Implications

The filing is a standard 10-Q report, adhering to SEC regulations for public companies.

What Investors Should Do

1. Analyze the financial statements for revenue, net income, and cash flow.
2. Examine segment performance to understand contributions from different business areas.
3. Review any disclosed risk factors or management discussion for potential challenges.

Year-Over-Year Comparison

This filing represents the first quarterly report for Stereotaxis, Inc. in 2024, following the year-end 10-K filing.

Key Financial Figures

• $0.001 — ch registered Common Stock, par value $0.001 per share STXS NYSE American LLC

Filing Documents

• form10-q.htm (10-Q) — 839KB
• ex31-1.htm (EX-31.1) — 14KB
• ex31-2.htm (EX-31.2) — 14KB
• ex32-1.htm (EX-32.1) — 6KB
• ex32-2.htm (EX-32.2) — 6KB
• 0001493152-24-019608.txt (&nbsp;) — 4887KB
• stxs-20240331.xsd (EX-101.SCH) — 38KB
• stxs-20240331_cal.xml (EX-101.CAL) — 55KB
• stxs-20240331_def.xml (EX-101.DEF) — 155KB
• stxs-20240331_lab.xml (EX-101.LAB) — 328KB
• stxs-20240331_pre.xml (EX-101.PRE) — 254KB
• form10-q_htm.xml (XML) — 733KB

Financial Statements (unaudited)

Financial Statements (unaudited) 3 Balance Sheets 3 4 5 6

Notes to Financial Statements

Notes to Financial Statements 7-17 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 18-22 Item 3. [Reserved] 23 Item 4.

Controls and Procedures

Controls and Procedures 23

Other Information

Part II Other Information Item 1.

Legal Proceedings

Legal Proceedings 23 Item 1A.

Risk Factors

Risk Factors 23 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 23 Item 3. Defaults upon Senior Securities 23 Item 4. [Reserved] 23 Item 5. Other Information 23 Item 6. Exhibits 23

Signatures

Signatures 24 2 ITEM 1. FINANCIAL STATEMENTS STEREOTAXIS, INC. BALANCE SHEETS (in thousands, except share amounts) March 31, 2024 December 31, 2023 (Unaudited) Assets Current assets: Cash and cash equivalents $ 17,633 $ 19,818 Restricted cash - current 525 525 Accounts receivable, net of allowance of $ 609 and $ 672 at 2024 and 2023, respectively 3,953 3,822 Inventories, net 8,252 8,426 Prepaid expenses and other current assets 845 676 Total current assets 31,208 33,267 Property and equipment, net 3,164 3,304 Restricted cash 88 219 Operating lease right-of-use assets 4,876 4,982 Prepaid and other non-current assets 116 137 Total assets $ 39,452 $ 41,909 Liabilities and stockholders' equity Current liabilities: Accounts payable $ 3,307 $ 3,190 Accrued liabilities 3,164 2,972 Deferred revenue 5,938 6,657 Current portion of operating lease liabilities 443 428 Total current liabilities 12,852 13,247 Long-term deferred revenue 1,581 1,637 Operating lease liabilities 4,945 5,062 Other liabilities 43 43 Total liabilities 19,421 19,989 Series A - Convertible preferred stock: Convertible preferred stock, Series A, par value $ 0.001 ; 10,000,000 shares authorized, 21,908 and 22,358 shares outstanding at 2024 and 2023 5,464 5,577 Stockholders' equity: Common stock, par value $ 0.001 ; 300,000,000 shares authorized, 82,132,777 and 80,949,697 shares issued at 2024 and 2023, respectively 82 81 Additional paid in capital 556,878 554,148 Treasury stock, 4,015 shares at 2024 and 2023 ( 206 ) ( 206 ) Accumulated deficit ( 542,187 ) ( 537,680 ) Total stockholders' equity 14,567 16,343 Total liabilities and stockholders' equity $ 39,452 $ 41,909 See accompanying notes. 3 STEREOTAXIS, INC. OF OPERATIONS (Unaudited) (in thousands, except share and per share amounts) 2024 2023 Three Months Ended March 31, (in thousands, excep

View Full Filing

View this 10-Q filing on SEC EDGAR