Revenue growth remains highly inconsistent, fluctuating between a 95.4% surge in 2025Q2 and a 42.7% contraction in 2024Q2, while gross margins have oscillated significantly between 44.6% and 73.6%.
| 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 |
|---|
| Sales/Revenue | 31.2M | 32.38M | 26.92M | 26.77M | 28.15M | 35.02M | 26.63M | 28.9M | 29.35M | 31.14M | 32.16M | 37.67M | 35.01M | 38.03M | 46.56M | 41.99M | 54.05M | 51.15M | 40.37M | 39.3M | 27.19M | 15.03M | 18.82M | 5.01M | 18.9K |
| Revenue Growth % | 13.4% | 20.28% | 0.55% | -4.89% | -19.63% | 31.51% | -7.86% | -1.51% | -5.77% | -3.17% | -14.63% | 7.61% | -7.94% | -18.32% | 10.9% | -22.32% | 5.67% | 26.72% | 2.71% | 44.52% | 80.96% | -20.14% | 275.22% | 26433.74% | - |
| Cost of Goods Sold | 14.39M | 15.31M | 12.32M | 11.91M | 9.68M | 11.79M | 7.66M | 6.14M | 5.72M | 10.75M | 7.53M | 10.44M | 8.22M | 11M | 14.78M | 12.5M | 15.56M | 17.02M | 14.18M | 15.35M | 12.89M | 7.72M | 10.67M | 4.05M | 39.76K |
| COGS % of Revenue | - | 47.27% | 45.78% | 44.49% | 34.38% | 33.66% | 28.78% | 21.23% | 19.48% | 34.53% | 23.41% | 27.71% | 23.49% | 28.93% | 31.74% | 29.77% | 28.8% | 33.28% | 35.12% | 39.05% | 47.41% | 51.38% | 56.72% | 80.79% | 210.37% |
| Gross Profit | 16.8M | 17.07M | 14.59M | 14.86M | 18.47M | 23.23M | 18.97M | 22.77M | 23.63M | 20.39M | 24.63M | 27.24M | 26.79M | 27.03M | 31.78M | 29.49M | 38.49M | 34.13M | 26.19M | 23.95M | 14.3M | 7.31M | 8.14M | 963.56K | -20.86K |
| Gross Margin % | 53.86% | 52.73% | 54.22% | 55.51% | 65.62% | 66.34% | 71.22% | 78.77% | 80.52% | 65.47% | 76.59% | 72.29% | 76.51% | 71.07% | 68.26% | 70.23% | 71.2% | 66.72% | 64.88% | 60.95% | 52.59% | 48.62% | 43.28% | 19.21% | -110.37% |
| Gross Profit Growth % | - | 16.97% | -1.79% | -19.55% | -20.5% | 22.49% | -16.69% | -3.65% | 15.89% | -17.23% | -9.55% | 1.67% | -0.89% | -14.95% | 7.77% | -23.38% | 12.77% | 30.32% | 9.33% | 67.51% | 95.72% | -10.3% | 745.26% | 4719.19% | - |
| Operating Expenses | 38.16M | 39.18M | 39.33M | 36.7M | 37.25M | 36.12M | 25.68M | 27.59M | 26.09M | 26.31M | 31.06M | 32.65M | 32.17M | 35.87M | 42.41M | 61.43M | 57.45M | 57.97M | 67.2M | 73.19M | 60.97M | 51.31M | 35.72M | 24.91M | 21.5M |
| OpEx % of Revenue | - | 121.02% | 146.12% | 137.08% | 132.33% | 103.14% | 96.43% | 95.47% | 88.89% | 84.48% | 96.57% | 86.66% | 91.89% | 94.32% | 91.08% | 146.31% | 106.28% | 113.33% | 166.49% | 186.25% | 224.22% | 341.45% | 189.82% | 496.8% | 113763.05% |
| Selling, General & Admin | 30.03M | 30.29M | 29.57M | 26.43M | 26.69M | 25.92M | 17.54M | 18.57M | 17.87M | 21.55M | 25.57M | 26.39M | 27.01M | 30.2M | 34M | 48.54M | 45.2M | 43.71M | 49.78M | 47.72M | 39.18M | 30.56M | 17.28M | 11.37M | 7.18M |
| SG&A % of Revenue | - | 93.56% | 109.86% | 98.71% | 94.82% | 74.02% | 65.88% | 64.26% | 60.88% | 69.19% | 79.51% | 70.06% | 77.16% | 79.4% | 73.03% | 115.62% | 83.63% | 85.45% | 123.33% | 121.44% | 144.07% | 203.35% | 91.84% | 226.78% | 37967.34% |
| Research & Development | 9.43M | 9.38M | 9.76M | 10.27M | 10.56M | 10.2M | 8.14M | 9.02M | 8.22M | 4.76M | 5.49M | 6.25M | 5.16M | 5.67M | 8.41M | 12.89M | 12.24M | 14.26M | 17.42M | 25.47M | 21.79M | 17.83M | 18.44M | 13.54M | 14.33M |
| R&D % of Revenue | - | 28.98% | 36.26% | 38.37% | 37.51% | 29.12% | 30.56% | 31.21% | 28.01% | 15.29% | 17.06% | 16.6% | 14.73% | 14.91% | 18.05% | 30.69% | 22.65% | 27.88% | 43.16% | 64.82% | 80.15% | 118.65% | 97.98% | 270.02% | 75795.71% |
| Other Operating Expenses | -1.29M | -492K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 212.03K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2.92M | 0 | 0 | 0 |
| Operating Income | -21.36M | -22.11M | -24.74M | -21.84M | -18.78M | -12.89M | -6.71M | -4.83M | -2.46M | -5.92M | -6.43M | -5.41M | -5.38M | -8.84M | -10.63M | -31.94M | -18.96M | -23.84M | -41.02M | -49.24M | -46.67M | -44M | -27.57M | -23.95M | -21.52M |
| Operating Margin % | -68.49% | -68.3% | -91.91% | -81.58% | -66.71% | -36.8% | -25.21% | -16.7% | -8.37% | -19.01% | -19.98% | -14.36% | -15.38% | -23.25% | -22.82% | -76.07% | -35.08% | -46.6% | -101.62% | -125.3% | -171.64% | -292.84% | -146.54% | -477.59% | -113873.42% |
| Operating Income Growth % | - | 10.62% | -13.28% | -16.31% | -45.69% | -91.96% | -39.09% | -96.45% | 58.49% | 7.89% | -18.77% | -0.48% | 39.09% | 16.81% | 66.73% | -68.47% | 20.47% | 41.88% | 16.7% | -5.51% | -6.07% | -59.58% | -15.13% | -11.28% | - |
| EBITDA | -19.77M | -20.56M | -23.77M | -21.24M | -18.35M | -12.78M | -6.59M | -4.7M | -1.88M | -5.17M | -5.86M | -4.79M | -4.67M | -7.62M | -9.03M | -30.18M | -17.03M | -21.65M | -37M | -47.62M | -45.07M | -42.84M | -26.69M | -23.45M | -21.12M |
| EBITDA Margin % | -63.38% | -63.49% | -88.31% | -79.35% | -65.18% | -36.5% | -24.74% | -16.28% | -6.4% | -16.59% | -18.22% | -12.72% | -13.34% | -20.04% | -19.39% | -71.88% | -31.51% | -42.33% | -91.65% | -121.18% | -165.75% | -285.07% | -141.82% | -467.55% | -111721.22% |
| EBITDA Growth % | 20.03% | 13.52% | -11.89% | -15.79% | -43.54% | -94.03% | -40.04% | -150.48% | 63.65% | 11.84% | -22.32% | -2.55% | 38.71% | 15.56% | 70.09% | -77.2% | 21.35% | 41.47% | 22.31% | -5.66% | -5.21% | -60.52% | -13.81% | -11.04% | - |
| D&A (Non-Cash Add-back) | 1.59M | 1.55M | 969K | 595K | 429K | 106K | 126.21K | 122.74K | 579.02K | 753.68K | 566.93K | 620.13K | 713.61K | 1.22M | 1.6M | 1.76M | 1.93M | 2.18M | 4.02M | 1.62M | 1.6M | 1.17M | 888.04K | 503.34K | 406.77K |
| EBIT | -21.12M | -22.11M | -24.74M | -21.84M | -18.78M | -12.89M | -6.71M | -4.83M | -2.46M | -5.92M | -6.43M | -5.41M | -5.38M | -8.84M | -10.63M | -31.94M | -18.96M | -23.84M | -41.02M | -49.24M | -46.67M | -44M | -27.57M | -23.95M | -21.52M |
| Net Interest Income | 486K | 467K | 694K | 1.1M | 484K | -10.07K | 67.36K | 235.57K | -16.57K | -179.84K | -2.48M | -3.28M | -3.33M | -7.17M | -6.88M | -3.51M | -3.02M | -4.57M | -2.87M | 1.47M | 2.13M | 949.92K | 811.05K | 375.36K | 434.47K |
| Interest Income | 486K | 467K | 694K | 1.1M | 484K | 0 | 67.36K | 235.57K | 0 | 0 | 368 | 1.86K | 7.08K | 5.8K | 7.36K | 9.05K | 10.58K | 44.77K | 194.87K | 1.47M | 2.13M | 949.92K | 811.05K | 375.36K | 434.47K |
| Interest Expense | 0 | 0 | 0 | 0 | 0 | 10.07K | 0 | 0 | 16.57K | 179.84K | 2.48M | 3.28M | 3.34M | 7.17M | 6.89M | 3.52M | 3.04M | 4.61M | 3.06M | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | -317K | 469K | 694K | 1.13M | 484K | 2.17M | 67.36K | 235.57K | 2.57M | 32.19K | 1.14M | -1.94M | 182.22K | -59.92M | 1.39M | -89.97K | -964.37K | -3.66M | 41.02M | 49.24M | 46.67M | -2.92M | 27.57M | 23.95M | 21.52M |
| Pretax Income | -21.68M | -21.64M | -24.05M | -20.71M | -18.29M | -10.72M | -6.65M | -4.59M | 116.76K | -5.89M | -5.29M | -7.35M | -5.2M | -68.76M | -9.24M | -32.03M | -19.92M | -27.49M | -43.89M | -48.12M | -45.72M | -43.56M | -27.26M | -24.04M | -21.46M |
| Pretax Margin % | -69.5% | -66.85% | -89.33% | -77.37% | -64.99% | -30.6% | -24.96% | -15.89% | 0.4% | -18.9% | -16.44% | -19.52% | -14.86% | -180.79% | -19.84% | -76.29% | -36.86% | -53.75% | -108.72% | -122.45% | -168.14% | -289.88% | -144.86% | -479.31% | -113537.87% |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 43.89M | 48.12M | 45.72M | 43.56M | 27.26M | 24.04M | 21.46M |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | -100% | -100% | -100% | -100% | -100% | -100% | -100% |
| Net Income | -21.68M | -21.64M | -24.05M | -20.71M | -18.29M | -10.72M | -6.65M | -4.59M | 116.76K | -5.89M | -5.29M | -7.35M | -5.2M | -68.76M | -9.24M | -32.03M | -19.92M | -27.49M | -43.89M | -48.12M | -45.72M | -43.56M | -27.26M | -24.04M | -21.46M |
| Net Margin % | -69.5% | -66.85% | -89.33% | -77.37% | -64.99% | -30.6% | -24.96% | -15.89% | 0.4% | -18.9% | -16.44% | -19.52% | -14.86% | -180.79% | -19.84% | -76.29% | -36.86% | -53.75% | -108.72% | -122.45% | -168.14% | -289.88% | -144.86% | -479.31% | -113537.87% |
| Net Income Growth % | 14.51% | 9.99% | -16.09% | -13.24% | -70.7% | -61.23% | -44.76% | -4032.38% | 101.98% | -11.36% | 28.1% | -41.33% | 92.43% | -644.26% | 71.16% | -60.77% | 27.54% | 37.35% | 8.8% | -5.25% | -4.96% | -59.8% | -13.4% | -12.01% | - |
| Net Income (Continuing) | -21.68M | -21.64M | -24.05M | -20.71M | -18.29M | -10.72M | -6.65M | -4.59M | 116.76K | -5.89M | -5.29M | -7.35M | -5.2M | -68.76M | -9.24M | -32.03M | -19.92M | -27.49M | -43.89M | -48.12M | -45.72M | -43.56M | -27.26M | -24.04M | -21.46M |
| Discontinued Operations | 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 |
| 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 |
| EPS (Diluted) | -0.22 | -0.25 | -0.30 | -0.27 | -0.26 | -0.16 | -0.11 | -0.07 | 0.00 | -0.26 | -0.24 | -0.35 | -0.26 | -5.95 | -1.25 | -5.48 | -3.70 | -5.95 | -11.26 | -12.62 | -13.01 | -14.97 | -22.30 | -172.35 | -180.24 |
| EPS Growth % | 20.97% | 16.67% | -11.11% | -3.85% | -62.5% | -45.45% | -63.93% | - | 100.85% | -8.33% | 31.43% | -34.62% | 95.63% | -376% | 77.19% | -48.11% | 37.82% | 47.16% | 10.78% | 3% | 13.09% | 32.87% | 87.06% | 4.38% | - |
| EPS (Basic) | - | -0.25 | -0.30 | -0.27 | -0.26 | -0.16 | -0.11 | -0.07 | 0.00 | -0.26 | -0.24 | -0.35 | -0.26 | -5.95 | -1.25 | -5.48 | -3.70 | -5.95 | -11.26 | -12.62 | -13.01 | -14.97 | -22.30 | -172.35 | -180.24 |
| Diluted Shares Outstanding | 98.89M | 90.96M | 85.18M | 80.7M | 76.06M | 75.56M | 72.75M | 63.05M | 52.08M | 22.61M | 21.81M | 21.11M | 19.95M | 11.55M | 7.4M | 5.84M | 5.38M | 4.62M | 3.9M | 3.81M | 3.51M | 2.91M | 1.22M | 139.47K | 119.06K |
| Basic Shares Outstanding | 98.89M | 90.96M | 85.18M | 80.7M | 76.06M | 75.56M | 72.75M | 63.05M | 52.08M | 22.61M | 21.81M | 21.01M | 19.95M | 11.55M | 7.4M | 5.84M | 5.38M | 4.62M | 3.9M | 3.81M | 3.51M | 2.91M | 1.22M | 139.47K | 119.06K |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Liquidity and capital runway
As reported in quarterly financial filings, Stereotaxis exhibits significant top-line volatility, with revenue growth fluctuating between a 95.4% surge in 2025Q2 and a 42.7% contraction in 2024Q2, reflecting the lumpy nature of capital equipment sales inherent to the company's current Genesis system installation cycle.
The erratic revenue trajectory suggests that the company remains heavily dependent on the timing of individual hospital capital expenditure approvals rather than a steady stream of recurring procedural volume. Investors should monitor whether the recent shift toward proprietary catheters can eventually smooth these cyclical swings by building a more predictable base of disposable revenue.
Based on the provided income statement data, gross margins have oscillated significantly, ranging from a low of 44.6% in 2024Q3 to a high of 73.6% in 2024Q2, indicating a lack of stable pricing power or consistent cost control over the company's hardware and disposable product mix.
This margin variability appears to stem from the reliance on third-party components and the uneven mix of high-margin disposables versus lower-margin capital hardware. Until the company successfully scales its proprietary catheter portfolio, gross margins will likely remain sensitive to the specific product configuration of each quarter's sales.
According to recent SEC filings, Stereotaxis continues to struggle with operating leverage, as SG&A expenses consistently exceed gross profit, resulting in persistent operating losses that reached a peak deficit of $7.6 million in 2024Q4 despite ongoing efforts to modernize the company's robotic platform.
The high fixed-cost base required to support specialized clinical sales teams appears to be outpacing the company's ability to generate incremental gross profit. This suggests that the current business model has not yet achieved the necessary scale to cover its overhead, leaving the firm in a state of chronic operating inefficiency.
As indicated by the financial statements, the company's cost structure is dominated by substantial SG&A and R&D expenditures, which collectively consume the entirety of gross profit and drive negative operating margins, highlighting a significant reliance on external funding to sustain ongoing product development and commercial operations.
The persistent level of R&D spending suggests a commitment to technological innovation, yet this investment has not translated into a self-sustaining financial profile. Management's expense discipline appears challenged by the high-touch nature of the robotic electrophysiology market, which necessitates significant investment in both clinical support and hardware refinement.
Based on reported figures, the company's cash position of $13.4 million against a trailing twelve-month net loss exceeding $21 million suggests a precarious liquidity profile that may force dilutive financing or strategic pivots if revenue growth does not accelerate rapidly to reach a cash-flow-neutral state.
Short-term investors should be wary of the potential for capital raises that could dilute existing equity holders, especially given the historical difficulty in maintaining consistent profitability. The current burn rate warrants close scrutiny, as the company's ability to fund its operations remains tethered to its success in converting the Genesis system backlog into recognized revenue.
Quick answers to the most common questions about buying STXS stock.
For fiscal year 2025, Stereotaxis, Inc. (STXS) reported total revenue of $32.4M. This represents a 171206.9% increase compared to $0.0M in 2002.
Stereotaxis, Inc. (STXS) reported a net loss of $21.6M for the fiscal year ending 2025.
Stereotaxis, Inc. (STXS) reported an operating income of $-22.1M, resulting in an operating profit margin of -68.3%. This margin reflects the operational efficiency of the business before interest and taxes.
Stereotaxis, Inc. (STXS) generated $17.1M in gross profit for the year, representing a gross profit margin of 52.7%. This demonstrates the company's core pricing power and production efficiency.