Stereotaxis (NYSE:STXS) immediately reported third-quarter outcomes that missed on income. Nonetheless, traders reacted positively to a listing of optimistic information from the surgical robotics firm.
St. Louis–based mostly Stereotaxis misplaced $5.3 million, or 7¢ per share, off $7.7 million in income for the quarter ended Sept. 30, 2022. It misplaced $5.0 million, or 7¢ per share, off $9.1 million in income in Q3 2021.
Wall Road analysts had anticipated $8.2 million in income.
Nonetheless, a lot of the information was optimistic for Stereotaxis, which supplies surgical robotics that incorporate magnets for minimally invasive endovascular intervention. (It’s included in MassDevice’s listing of robotic surgical procedure corporations you want to know.)
“Stereotaxis continues to exhibit sturdy business and technological progress,” CEO David Fischel mentioned in a information launch.
“We acquired two system orders within the third quarter, and have already acquired two extra signed buy contracts as we begin the fourth quarter, reflecting continued international demand for our robotic expertise,” he continued. “Our rising system backlog of over $13 million, together with a wholesome capital pipeline, units us up properly for the approaching yr.”
Further optimistic information from Stereotaxis
Different information from Stereotaxis included:
- The CE mark submission of the MAGiC ablation catheter efficiently handed a completeness examine by the notified physique. It’s within the midst of its technical assessment.
- There may be progress within the growth of the accessible next-generation robotic system. It stays on observe for an preliminary launch subsequent summer season.
- Stereotaxis’ collaboration with MicroPort is advancing. Chinese language regulatory submission of Stereotaxis’ Genesis system is coming quickly.
- As of Sept. 30, Stereotaxis had money and money equivalents of $32.4 million and no debt.
“This progress brings us nearer to a future when the advantages of robotic magnetic navigation are broadly accessible, obtainable with a vibrant ecosystem in electrophysiology, and impactful throughout a number of endovascular indications,” Fischel mentioned. “We’re cognizant of the significance of economic prudence and stay assured within the capacity to advance our technique, generate natural progress, and attain profitability with our present monetary assets.”
Buyers reacted by sending STXS shares up greater than 7% to $1.83 apiece in morning buying and selling. MassDevice‘s MedTech 100 Index, which incorporates shares of the world’s largest medical machine corporations, was up greater than 3%.