Stereotaxis, Inc. Files Q2 2024 10-Q

TL;DR

**STXS Q2 10-Q filed. Financials and operations detailed.**

AI Summary

Stereotaxis, Inc. filed its 10-Q for the period ending June 30, 2024. The filing details financial performance and operational updates for the second quarter. Key financial figures and business segment performance are presented, reflecting the company's ongoing activities in the electromedical apparatus sector.

Why It Matters

This filing provides investors and analysts with the latest financial health and operational status of Stereotaxis, Inc., crucial for understanding its market position and future prospects.

Risk Assessment

Risk Level: medium — The company operates in the specialized electromedical device sector, which can be subject to regulatory changes, technological advancements, and market competition.

Key Numbers

• 20240630 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial data is reported.)
• 20240814 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• Stereotaxis, Inc. (company) — Filer of the 10-Q
• 0001493152-24-032047 (filing_id) — Accession Number for the filing
• 20240630 (date) — End of the reporting period
• 3845 (industry_code) — Standard Industrial Classification for Electromedical & Electrotherapeutic Apparatus
• ST.LOUIS (location) — Company headquarters city

FAQ

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) — 966KB
• ex2-1.htm (EX-2.1) — 962KB
• ex2-2.htm (EX-2.2) — 25KB
• ex31-1.htm (EX-31.1) — 13KB
• ex31-2.htm (EX-31.2) — 14KB
• ex32-1.htm (EX-32.1) — 6KB
• ex32-2.htm (EX-32.2) — 6KB
• 0001493152-24-032047.txt ( ) — 6335KB
• stxs-20240630.xsd (EX-101.SCH) — 38KB
• stxs-20240630_cal.xml (EX-101.CAL) — 57KB
• stxs-20240630_def.xml (EX-101.DEF) — 158KB
• stxs-20240630_lab.xml (EX-101.LAB) — 331KB
• stxs-20240630_pre.xml (EX-101.PRE) — 258KB
• form10-q_htm.xml (XML) — 802KB

Financial Statements (unaudited)

Financial Statements (unaudited) 3 Balance Sheets 3 4 5-6 7

Notes to Financial Statements

Notes to Financial Statements 8 -19 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 20-26 Item 3. [Reserved] 26 Item 4.

Controls and Procedures

Controls and Procedures 26

Other Information

Part II Other Information Item 1.

Legal Proceedings

Legal Proceedings 27 Item 1A.

Risk Factors

Risk Factors 27-28 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 29 Item 3. Defaults upon Senior Securities 29 Item 4. [Reserved] 29 Item 5. Other Information 29 Item 6. Exhibits 29

Signatures

Signatures 30 2 ITEM 1. FINANCIAL STATEMENTS STEREOTAXIS, INC. BALANCE SHEETS (in thousands, except share amounts) June 30, 2024 December 31, 2023 (Unaudited) Assets Current assets: Cash and cash equivalents $ 14,683 $ 19,818 Restricted cash - current 481 525 Accounts receivable, net of allowance of $ 640 and $ 672 at 2024 and 2023, respectively 2,782 3,822 Inventories, net 9,284 8,426 Prepaid expenses and other current assets 842 676 Total current assets 28,072 33,267 Property and equipment, net 3,059 3,304 Restricted cash - 219 Operating lease right-of-use assets 4,767 4,982 Prepaid and other non-current assets 116 137 Total assets $ 36,014 $ 41,909 Liabilities and stockholders' equity Current liabilities: Accounts payable $ 4,146 $ 3,190 Accrued liabilities 2,698 2,972 Deferred revenue 4,950 6,657 Current portion of operating lease liabilities 458 428 Total current liabilities 12,252 13,247 Long-term deferred revenue 2,121 1,637 Operating lease liabilities 4,823 5,062 Other liabilities 54 43 Total liabilities 19,250 19,989 Series A - Convertible preferred stock: Convertible preferred stock, Series A, par value $ 0.001 ; 10,000,000 shares authorized, 21,683 and 22,358 shares outstanding at 2024 and 2023, respectively 5,408 5,577 Stockholders' equity: Common stock, par value $ 0.001 ; 300,000,000 shares authorized, 82,990,159 and 80,949,697 shares issued at 2024 and 2023, respectively 83 81 Additional paid in capital 559,499 554,148 Treasury stock, 4,015 shares at 2024 and 2023 ( 206 ) ( 206 ) Accumulated deficit ( 548,020 ) ( 537,680 ) Total stockholders' equity 11,356 16,343 Total liabilities and stockholders' equity $ 36,014 $ 41,909 See accompanying notes. 3 STEREOTAXIS, INC. OF OPERATIONS (Unaudited) (in thousands, except share and per share amounts) 2024 2023 2024 2023 Three Months Ended June 30,

View Full Filing

View this 10-Q filing on SEC EDGAR