The company's equity base has contracted from $21.9 million in 2023Q4 to $18.7 million by 2025Q4, reflecting the ongoing difficulty in funding operations without further capital erosion.
Stereotaxis, Inc. (STXS) balance sheet — 24-year assets, liabilities & shareholders' equity history
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 |
|---|
| Total Current Assets | 37.99M | 33.85M | 26.44M | 33.27M | 43.25M | 51.39M | 52.72M | 38.83M | 17.97M | 9.87M | 19.4M | 17.26M | 21.22M | 28.16M | 27.94M | 34.24M | 59.19M | 50.04M | 51.35M | 50.94M | 63.29M | 31.63M | 61.46M | 32.5M | 32.1M |
| Cash & Short-Term Investments | 10.49M | 13.42M | 12.22M | 19.82M | 28.43M | 38.74M | 43.94M | 30.18M | 10.8M | 3.69M | 8.5M | 5.59M | 7.27M | 13.78M | 7.78M | 13.95M | 35.25M | 30.55M | 30.36M | 23.66M | 36.98M | 10.74M | 45.65M | 26.48M | 28.83M |
| Cash Only | 10.49M | 13.42M | 12.22M | 19.82M | 8.59M | 38.74M | 43.94M | 30.18M | 10.8M | 3.69M | 8.5M | 5.59M | 7.27M | 13.78M | 7.78M | 13.95M | 35.25M | 30.55M | 30.36M | 17.02M | 15.21M | 5.21M | 16.91M | 21.36M | 28.83M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 19.84M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 6.63M | 21.77M | 5.52M | 28.74M | 5.12M | 0 |
| Accounts Receivable | 13.87M | 10.16M | 3.82M | 3.82M | 5.09M | 5.41M | 3.52M | 5.33M | 5.02M | 4.29M | 4.67M | 6.38M | 6.48M | 7.56M | 11.57M | 11.16M | 13.95M | 11.22M | 9.94M | 13.89M | 15.44M | 6.36M | 8.61M | 715.05K | 436.15K |
| Days Sales Outstanding | 118.3 | 114.57 | 51.85 | 52.11 | 66.01 | 56.34 | 48.18 | 67.31 | 62.45 | 50.25 | 52.95 | 61.78 | 67.56 | 72.54 | 90.7 | 97.05 | 94.18 | 80.06 | 89.85 | 129.04 | 207.31 | 154.45 | 166.97 | 52.04 | 8.42K |
| Inventory | 12.52M | 9.57M | 8.33M | 8.43M | 7.88M | 4.43M | 3.3M | 1.85M | 1.19M | 1.15M | 5.38M | 4.5M | 6.37M | 4.88M | 5.1M | 6.04M | 5.44M | 4.4M | 8.09M | 9.96M | 8.29M | 9.4M | 4.67M | 4.43M | 2.36M |
| Days Inventory Outstanding | 291.86 | 228.14 | 246.74 | 258.21 | 297.07 | 137.25 | 156.94 | 109.89 | 76.08 | 38.93 | 260.86 | 157.51 | 282.82 | 161.88 | 125.89 | 176.28 | 127.61 | 94.43 | 208.19 | 237 | 234.58 | 444.62 | 159.85 | 399.14 | 21.67K |
| Other Current Assets | 0 | 698K | 1.28M | 623K | 525K | 570K | 250.62K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2.12M | 2.62M | 4.16M | 3.14M | 0 | 725.88K | 1.16M | 2M | 173.53K | 0 | 0 |
| Total Non-Current Assets | 17.59M | 18.4M | 20.29M | 8.64M | 10.17M | 9.6M | 2.74M | 4.75M | 542.06K | 796.59K | 1.56M | 1.97M | 2.66M | 2.92M | 4.23M | 5.7M | 6.57M | 6.08M | 8.09M | 9.54M | 6M | 5.03M | 9.72M | 4.82M | 819.72K |
| Property, Plant & Equipment | 7.54M | 7.93M | 9.06M | 8.29M | 9.21M | 8.37M | 2.43M | 4.54M | 343.69K | 592.69K | 1.09M | 1.07M | 894.73K | 1.18M | 2.14M | 3.32M | 3.84M | 4.79M | 6.42M | 7.01M | 4.13M | 3.08M | 1.56M | 2.31M | 699.58K |
| Fixed Asset Turnover | 3.83x | 4.08x | 2.97x | 3.23x | 3.05x | 4.19x | 10.96x | 6.37x | 85.39x | 52.55x | 29.61x | 35.30x | 39.13x | 32.10x | 21.74x | 12.63x | 14.07x | 10.68x | 6.29x | 5.60x | 6.58x | 4.88x | 12.08x | 2.17x | 0.03x |
| Goodwill | 3.76M | 3.76M | 3.76M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -1.98B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 5.96M | 6.43M | 7.36M | 0 | 0 | 0 | 0 | 0 | 0 | 159.47K | 436.57K | 635.89K | 1.38M | 1.68M | 1.98B | 2.28M | 2.58M | 1.14M | 1.28M | 1.41M | 1.54M | 1.68M | 1.81M | 1.94M | 0 |
| Long-Term Investments | 0 | 0 | 0 | 219K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 335K | 278K | 107K | 137K | 952K | 1.23M | 308.51K | 218.1K | 198.37K | 44.43K | 39.24K | 264.16K | 388.85K | 54.79K | 106.19K | 92.65K | 147.8K | 143.55K | 396.5K | 1.12M | 321.55K | 274.27K | 6.35M | 567.35K | 120.14K |
| Total Assets | 55.58M | 52.25M | 46.72M | 41.91M | 53.41M | 60.98M | 55.46M | 43.58M | 18.51M | 10.67M | 20.97M | 19.23M | 23.88M | 31.08M | 32.17M | 39.93M | 65.76M | 56.12M | 59.44M | 60.48M | 69.29M | 36.66M | 71.19M | 37.32M | 32.92M |
| Asset Turnover | 0.58x | 0.62x | 0.58x | 0.64x | 0.53x | 0.57x | 0.48x | 0.66x | 1.59x | 2.92x | 1.53x | 1.96x | 1.47x | 1.22x | 1.45x | 1.05x | 0.82x | 0.91x | 0.68x | 0.65x | 0.39x | 0.41x | 0.26x | 0.13x | 0.00x |
| Asset Growth % | 54.54% | 11.83% | 11.49% | -21.54% | -12.42% | 9.97% | 27.24% | 135.41% | 73.57% | -49.12% | 9.04% | -19.49% | -23.15% | -3.39% | -19.45% | -39.28% | 17.18% | -5.59% | -1.71% | -12.72% | 89.02% | -48.5% | 90.73% | 13.37% | - |
| Total Current Liabilities | 26.8M | 22.36M | 21.6M | 13.25M | 14.29M | 13.26M | 13.57M | 12.16M | 10.19M | 30.13M | 35.65M | 16.14M | 16.65M | 23.81M | 33.65M | 40.83M | 46.8M | 27.16M | 28.01M | 29.01M | 22.91M | 15.73M | 11.79M | 9.74M | 6.62M |
| Accounts Payable | 6.87M | 4.77M | 5.67M | 3.19M | 3.27M | 4.19M | 1.61M | 2.1M | 1.73M | 1.65M | 2.62M | 1.84M | 2.35M | 3.51M | 3.56M | 5.61M | 8.8M | 3.88M | 4.56M | 7.35M | 5.56M | 4.87M | 2.13M | 1.7M | 1.51M |
| Days Payables Outstanding | 144.39 | 113.7 | 167.87 | 97.75 | 123.34 | 129.7 | 76.61 | 124.86 | 110.22 | 56.14 | 127.16 | 64.35 | 104.45 | 116.53 | 87.83 | 163.84 | 206.28 | 83.23 | 117.44 | 174.8 | 157.27 | 230.05 | 72.83 | 152.93 | 13.82K |
| Short-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 1.19M | 0 | 0 | 0 | 0 | 0 | 0 | 49.73K | 12.26M | 21.17M | 20.89M | 3.33M | 3.9M | 972.22K | 1.67M | 1M | 910.43K | 2.29M | 904.31K |
| Deferred Revenue (Current) | 28.82M | 6.72M | 7.85M | 7.7M | 7.34M | 6.28M | 5.28M | 5.09M | 5.83M | 5.7M | 8.75M | 7.45M | 6.66M | 7.52M | 9.5M | 8.22M | 6.6M | 7.19M | 9.68M | 8.77M | 5.66M | 4.22M | 3.04M | 814.39K | 1.65M |
| Other Current Liabilities | 5.67M | 4.89M | 4.59M | 0 | 163K | 0 | 157.62K | 0 | 0 | 19.57M | 19.79M | 794.13K | 2.38M | 5.65M | 6.21M | 125.42K | 3.54M | 4.14M | 0 | 0 | 6.53M | 3.13M | 4.44M | 0 | 0 |
| Current Ratio | 1.42x | 1.51x | 1.22x | 2.51x | 3.03x | 3.87x | 3.88x | 3.19x | 1.76x | 0.33x | 0.54x | 1.07x | 1.27x | 1.18x | 0.83x | 0.84x | 1.26x | 1.84x | 1.83x | 1.76x | 2.76x | 2.01x | 5.21x | 3.34x | 4.85x |
| Quick Ratio | 0.95x | 1.09x | 0.84x | 1.88x | 2.47x | 3.54x | 3.64x | 3.04x | 1.65x | 0.29x | 0.39x | 0.79x | 0.89x | 0.98x | 0.68x | 0.69x | 1.15x | 1.68x | 1.54x | 1.41x | 2.40x | 1.41x | 4.82x | 2.88x | 4.49x |
| Cash Conversion Cycle | 265.78 | 229.01 | 130.72 | 212.56 | 239.74 | 63.9 | 128.51 | 52.34 | 28.31 | 33.03 | 186.65 | 154.94 | 245.94 | 117.88 | 128.77 | 109.48 | 15.51 | 91.26 | 180.6 | 191.24 | 284.62 | 369.02 | 254 | 298.25 | 16.27K |
| Total Non-Current Liabilities | 11.31M | 11.17M | 13.69M | 6.74M | 7.19M | 8.3M | 1.65M | 2.9M | 1.05M | 1.15M | 842.74K | 20.71M | 19.78M | 18.97M | 17.3M | 17.93M | 8.49M | 21.32M | 26.66M | 7.27M | 1.59M | 2.8M | 1M | 2.32M | 2.3M |
| Long-Term Debt | 0 | 4.79M | 0 | 0 | 0 | 0 | 973.25K | 0 | 0 | 0 | 0 | 18.08M | 18.39M | 18.48M | 16.82M | 17.29M | 8M | 20.35M | 25.27M | 6M | 305.56K | 1.97M | 1M | 2.24M | 2.28M |
| Capital Lease Obligations | 18.86M | 0 | 5.44M | 5.06M | 5.49M | 5.84M | 0 | 2.09M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -500.7K | 16.82M | 0 | 0 | 0 | -1.23B | -942.57M | 0 | 801K | 0 | 0 | 0 |
| Other Non-Current Liabilities | 6.44M | 5.82M | 6.19M | 43K | 51K | 218K | 131.23K | 255.52K | 641.46K | 535.37K | 320.41K | 275.6K | 660.38K | 0 | 0 | 3.09K | 8.74K | 20.01K | 158.91K | 328.79K | 1.29M | 28.02K | 1.41K | 75.79K | 14.9K |
| Total Liabilities | 38.1M | 33.53M | 35.29M | 19.99M | 21.48M | 21.56M | 15.23M | 15.06M | 11.24M | 31.27M | 36.5M | 36.85M | 36.43M | 42.78M | 50.96M | 58.76M | 55.29M | 48.48M | 54.67M | 36.28M | 24.5M | 18.53M | 12.79M | 12.06M | 8.91M |
| Total Debt | 5.17M | 5.44M | 6.01M | 5.49M | 5.86M | 6.11M | 4.45M | 4.34M | 0 | 0 | 0 | 18.43M | 18.39M | 18.53M | 29.09M | 38.46M | 28.89M | 23.68M | 29.17M | 6.97M | 1.97M | 2.97M | 1.91M | 4.53M | 3.19M |
| Net Debt | -5.32M | -7.99M | -6.21M | -14.33M | -2.73M | -32.63M | -39.49M | -25.84M | -10.8M | -3.69M | -8.5M | 12.84M | 11.12M | 4.76M | 21.31M | 24.51M | -6.35M | -6.87M | -1.18M | -10.05M | -13.24M | -2.24M | -15M | -16.82M | -25.65M |
| Debt / Equity | 0.30x | 0.29x | 0.53x | 0.25x | 0.18x | 0.15x | 0.11x | 0.15x | - | - | - | - | - | - | - | - | 2.76x | 3.10x | 6.12x | 0.29x | 0.04x | 0.16x | 0.03x | 0.18x | 0.13x |
| Debt / EBITDA | -0.25x | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Net Debt / EBITDA | 0.26x | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Interest Coverage | - | - | - | - | - | -1063.05x | - | - | -148.32x | -32.92x | -2.59x | -1.65x | -1.61x | -1.23x | -1.54x | -9.09x | -6.25x | -5.17x | -13.39x | - | - | - | - | - | - |
| Total Equity | 17.48M | 18.72M | 11.43M | 21.92M | 31.93M | 39.42M | 40.23M | 28.52M | 7.27M | -20.61M | -15.53M | -17.63M | -12.55M | -11.7M | -18.79M | -18.83M | 10.48M | 7.64M | 4.77M | 24.19M | 44.79M | 18.13M | 58.39M | 25.27M | 24.01M |
| Equity Growth % | 333.4% | 63.76% | -47.85% | -31.35% | -19.01% | -2% | 41.03% | 292.27% | 135.29% | -32.7% | 11.89% | -40.45% | -7.24% | 37.72% | 0.21% | -279.75% | 37.09% | 60.17% | -80.28% | -45.98% | 147.1% | -68.96% | 131.11% | 5.25% | - |
| Book Value per Share | 0.17 | 0.21 | 0.13 | 0.27 | 0.42 | 0.52 | 0.55 | 0.45 | 0.14 | -0.91 | -0.71 | -0.83 | -0.63 | -1.01 | -2.54 | -3.22 | 1.95 | 1.65 | 1.22 | 6.34 | 12.74 | 6.23 | 47.78 | 181.17 | 201.64 |
| Total Shareholders' Equity | 17.48M | 18.72M | 11.43M | 21.92M | 31.93M | 39.42M | 40.23M | 28.52M | 7.27M | -20.61M | -15.53M | -17.63M | -12.55M | -11.7M | -18.79M | -18.83M | 10.48M | 7.64M | 4.77M | 24.19M | 44.79M | 18.13M | 58.39M | 25.27M | 24.01M |
| Common Stock | 98K | 95K | 85K | 81K | 75K | 75K | 73.69K | 68.53K | 59.06K | 22.81K | 22.06K | 21.55K | 20.48K | 19.31K | 8.02K | 55.43K | 54.75K | 50.21K | 42.05K | 37.13K | 34.76K | 27.84K | 27.19K | 1.51K | 1.39K |
| Retained Earnings | -593.7M | -583.37M | -561.73M | -537.68M | -516.97M | -498.68M | -487.96M | -481.31M | -476.72M | -477.13M | -471.25M | -465.96M | -458.61M | -453.4M | -384.65M | -375.41M | -343.38M | -323.45M | -295.96M | -252.07M | -203.95M | -158.23M | -114.67M | -87.42M | -63.38M |
| Treasury Stock | -206K | -206K | -206K | -206K | -206K | -206K | -206K | -206K | -206K | -206K | -206K | -206K | -206K | -206K | -206K | -206K | -206K | -206K | -206K | -206K | -206K | -162.55K | -162.55K | -17.75K | -2.16K |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -5.96M | -5.96M | -5.96M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.96K | 2.16K | -2.79M | -940.53K | -1.28M | -1.11M |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Quick answers to the most common questions about buying STXS stock.
As of 2025, Stereotaxis, Inc. (STXS) had total assets of $52.3M including $33.8M in current assets.
Stereotaxis, Inc. (STXS) carries total debt of $5.4M, offset by $13.4M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Stereotaxis, Inc. (STXS) has total shareholders' equity (book value) of $18.7M ($0.21 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Stereotaxis, Inc. (STXS) reported a current ratio of 1.51x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.
Key Metrics
Top Statement Risk
Limited liquidity and dilution
Metrics are mathematically derived from official filings.
Capital Erosion Weakens Financial Foundation
As reported in recent financial filings, Stereotaxis has seen its equity base contract from $21.9 million in 2023Q4 to $18.7 million by 2025Q4, a trend that underscores the persistent difficulty in achieving operational self-sufficiency while funding the ongoing commercialization of the Genesis robotic platform.
The consistent decline in retained earnings, which have deepened to -$583.4 million, suggests that the company's business model remains structurally challenged by high fixed costs. This trajectory indicates that the balance sheet is becoming increasingly reliant on external capital to offset operational losses rather than generating internal value.
Tightening Cash Runway Limits Flexibility
Based on the company's latest quarterly data, cash and equivalents have dwindled to $13.4 million, representing a significant reduction from the $19.8 million held in 2023Q4, which leaves the firm with a narrow buffer against the ongoing cash burn required for its specialized medical device operations.
The current ratio has compressed from 2.51 in 2023Q4 to 1.51 in 2025Q4, signaling a reduced ability to cover short-term obligations without relying on future capital raises. Investors should monitor this liquidity contraction closely, as it may necessitate further dilutive financing to maintain current research and development initiatives.
Low Leverage Masks Operational Fragility
According to reported balance sheet figures, Stereotaxis maintains a modest debt-to-equity ratio of 0.29, which appears to be a function of limited access to traditional credit markets rather than a strategic choice to avoid leverage in favor of equity-based financing for its robotic systems.
While the low debt load might initially appear favorable, it reflects a capital structure that is heavily dependent on equity dilution to fund operations. The lack of significant debt suggests that the company's cash flow durability is currently insufficient to support traditional debt service, limiting its ability to leverage the balance sheet for growth.
Goodwill and Intangibles Impairment Risk
As indicated in the latest quarterly statements, the presence of $3.8 million in goodwill on the balance sheet warrants caution, as the company's persistent inability to achieve GAAP profitability may eventually trigger impairment charges that would further erode the already thin equity base of $18.7 million.
The valuation of these intangible assets appears sensitive to the company's long-term growth assumptions and the successful adoption of the Genesis system. Should the market fail to embrace the new platform at the expected velocity, the carrying value of these assets may prove to be overstated, creating a hidden risk to book value.