Stereotaxis (STXS) Q2 2026 earnings summary

Executive summary

• Achieved key regulatory approvals for new robotic, therapeutic, and diagnostic catheters, and digital surgery systems, marking a milestone-rich period.

• Robotic catheter revenue exceeded $1M in Q2 2026, up 270% sequentially, with accelerating adoption and positive physician feedback on new MAGiC catheters.

• Completed acquisition of Robocath in July 2026, expanding into endovascular device navigation, interventional cardiology, and neurointerventions.

• Commercial progress supported by robust innovation pipeline, including next-gen robots, new catheters, and AI-enabled digital solutions.

• System sales declined significantly, while disposables, service, and accessories revenue remained stable.

Financial highlights

• Q2 2026 revenue totaled $7.7M, down 13% year-over-year, with system revenue at $1.5M and recurring revenue at $6.2M, up 270% sequentially and 450% year-over-year for robotic catheters.

• Gross margin was 58%; recurring revenue gross margin 66%, system gross margin 29%.

• Operating loss was $4.6M; net loss $4.5M; adjusted operating loss $2.1M.

• Cash and equivalents at $10.5M with no debt as of June 30, 2026; working capital $11.2M.

• Net loss per share was $(0.05) for Q2 2026; weighted average shares outstanding ~100M.

Outlook and guidance

• Recurring revenue expected to grow to ~$7M in Q3 and ~$8M in Q4 2026, with continued momentum into 2027.

• System revenue guidance of ~$3M per quarter in the second half of 2026.

• Internally modeling to reach cash flow profitability in the first half of 2027, with incremental recurring revenue flowing to operating profit.

• Expect continued operating losses in 2026 as investments in R&D, commercialization, and Robocath integration continue.

• Cash resources, including proceeds from equity offerings, expected to fund operations and capital needs, but additional financing may be required.