Stereotaxis reported third quarter 2026 revenue of $8.9 million, a 20% year-over-year increase that exceeded analyst expectations of $8.1 million. The growth was driven by a 60% surge in system revenue and a 6% rise in recurring revenue, though results were tempered by supply chain constraints on catheters and costs associated with the Robocath acquisition.
Key Highlights
- System revenue reached $3.0 million, benefiting from the first GenesisX system recognition in the U.S. and the first Genesis system in China.
- Recurring revenue of $5.9 million was impacted by a $1.9 million backlog in disposable orders that could not be converted due to supply shortages.
- Adjusted operating expenses increased to $9.1 million from $6.6 million in the prior year, reflecting one-time transaction costs and the absorption of Robocath operations.
- Secured a $24 million convertible note financing at a $1.21 conversion price, bringing pro forma cash and availability to $28 million.