Stereotaxis, Inc. (NYSE:STXS)

STEREOTAXIS INC (OOTC:STXS) ($2.00; $118.6M market cap), a company that designs, manufactures, and markets robotic systems and instruments for the treatment of abnormal heart rhythms in the United States and internationally, announced Q1 2019 results:

• Sales of $7.0 million vs $7 million in the prior year and up from $6.7 million in Q4
• Loss of $0.04 vs EPS of $0.01 in the prior year

“The start of 2019 is highlighted by significant innovation accomplishments across all key aspects of our technology,” said David Fischel, Chairman and CEO. “These innovations will positively impact patient care, the physician experience, and the broad availability of our robotic technology in electrophysiology. They create a new financial and strategic foundation for the company and set Stereotaxis on a path for sustainable and significant growth.

The impact of these innovations will be transformational in the coming quarters and years. In parallel with our technological achievements, we are making continued progress in establishing and implementing the commercial infrastructure to ensure robotic electrophysiology practices are successful clinically and commercially. We are proud that we are able to accomplish this progress while being financially prudent.”

In conjunction with its earnings release, STXS issued two other press releases. First, it announced it has entered a strategic collaboration with Osypka, a pioneer in electrophysiology and leading manufacturer of interventional products.

“Stereotaxis is delighted to be partnered with Osypka. We have been impressed with Osypka’s expertise and capabilities, as well as with their commitment to high quality products that improve patient care,” said David Fischel. “Stereotaxis remains committed to advancing robotic technology in electrophysiology. This collaboration leverages the highly complementary strengths of both firms. It promises to dramatically improve our clinical impact in electrophysiology and opens attractive potential options as we advance our strategic vision. We look forward to working with Osypka to advance patient care and the physician experience in electrophysiology.”

The company also highlighted the innovations it has presented at the Annual Heart Rhythm Scientific Conference which it is currently attending.

“I am excited and pleased to introduce Stereotaxis Genesis, the future of robotic electrophysiology,” said David Fischel, Chairman and CEO of Stereotaxis. “Genesis is a new beginning for Stereotaxis. It is the tangible reflection of Stereotaxis’ commitment to innovation that improves patient care, enhances the physician experience, and enables broad availability of robotic electrophysiology.”

Our prior research notes on STXS discussed how its new management team joined the Company a few years ago to strengthen the Company’s balance sheet and make improvements to its product offerings. We believe those first steps are complete and it is now up to management to execute its growth strategy plan going forward.