Stereotaxis, Inc. (NYSE:STXS)

STEREOTAXIS INC (NYSE:STXS) ($3.49; $249.2M 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 2020 results:

• Sales of $5.8 million vs $7.0 million in the prior year
• Loss of $0.03 vs loss of $0.04 in the prior year

“Our financial performance late in the quarter was impacted by broad-based reductions in procedure volumes as hospitals globally curtailed activity to lessen infection risk, preserve equipment, and focus their resources on battling the pandemic. This impacted revenue from disposables and temporarily disrupted the completion of certain project-specific service activities. Stereotaxis has responded to the disruptions with broad deployment of TeleRobotic support, leveraging proprietary connectivity technology to enable remote clinical and technical support of robotic electrophysiology practices.”

“While the pandemic has slowed progress on multiple Genesis purchase orders we had expected to announce at this time, we continue to see significant interest in Genesis. Over the last three weeks we hosted 51 physicians from 29 hospitals on TeleRobotic visits to remotely view and test drive the Genesis system. Progress on the two Genesis orders previously announced continues without interruption, with installations and revenue recognition expected in early summer.”