Stereotaxis (STXS) Q4 2025 earnings summary

Executive summary

• Achieved significant technological and commercial progress, including regulatory approvals for GenesisX robot, MAGiC ablation catheter, and MAGiC Sweep mapping catheter in the U.S. and Europe.

• Transitioned to a more scalable and profitable commercial model, focusing on recurring revenue from proprietary catheters and digital solutions.

• Four key efforts for 2026: GenesisX program expansion, MAGiC manufacturing ramp, platform expansion beyond EP, and digital surgery suite commercialization.

• Focused on ramping manufacturing and commercializing new products, with strategic milestones set for 2026.

Financial highlights

• Q4 2025 revenue was $8.6M, up 36% year-over-year; full-year 2025 revenue reached $32.4M, up from $26.9M in 2024.

• System revenue for 2025 was $10.2M; recurring revenue was $22.2M, both showing year-over-year growth.

• Gross margin for 2025 was 53%; recurring revenue gross margin was 67%, system gross margin 21%.

• Adjusted operating loss for 2025 was $9.3M, improved from $12.4M in 2024.

• Ended 2025 with $13.4M in cash and no debt.

Outlook and guidance

• Expects double-digit revenue growth in 2026, with annual revenue projected to surpass $40M.

• Quarterly revenue projected below $10M in H1 2026, ramping above $10M in H2.

• Recurring revenue and stable operating expenses expected to reduce cash use in 2026.

• Anticipates recurring revenue margins over 75% and system margins over 50% as production scales in the next three years.

• Plans to ramp manufacturing of MAGiC catheters to 500 units/month and expand GenesisX installations.