Stereotaxis Inc

Stereotaxis announced that the University of Szeged in Hungary has treated over 70 patients using its Genesis Robotic Magnetic Navigation system just over a month after launching the country's first robotic cardiology program. The electrophysiology team, led by Prof. Tamás Szili-Török, performed procedures for a broad spectrum of arrhythmias, including atrial fibrillation, atrial flutter, supraventricular tachycardia, and ventricular tachycardia, with several complex cases involving patients who had previously failed multiple ablation procedures. This rapid adoption marks a record pace of use globally, outpacing any previous launch of Stereotaxis technology. The university will celebrate the program's success and the grand opening of its Robotic Cardiology Program at a scientific symposium on September 8th.

Stereotaxis expects recurring revenue to reach approximately $8 million in the fourth quarter of 2026, driven by adoption of its proprietary MAGiC catheters, though sales remain supply constrained with catheters on backlog. CEO David Fischel said recurring revenue surpassed $6 million in the second quarter, a multi-year high, and guided for an approximate $1 million incremental step up in catheter revenue in each of the next couple quarters. System revenue is expected to strengthen to about $3 million in each of the third and fourth quarters, supported by multiple Synchrony shipments and one system revenue recognition per quarter. The company reported second-quarter total revenue of $7.7 million, with system revenue of $1.5 million and recurring revenue of $6.2 million, while gross margin was 58% and net loss was $4.5 million. Stereotaxis is internally modeling to reach cash flow profitability in the first half of 2027, relying on catheter adoption and modest capital assumptions.

The University of Szeged has launched Hungary's first advanced robotic cardiology program, installing the Genesis Robotic Magnetic Navigation System from Stereotaxis. Led by Cardiology Chief Dr. Tamás Szili-Török, the Szent-Györgyi Albert Clinical Center has already treated its first patients with a broad range of arrhythmias using the system's robotic precision. The hospital expects to treat hundreds of patients annually for all forms of cardiac arrhythmia and aims to become a central training institute while contributing to pioneering research and innovation in robotic cardiology. Stereotaxis Chairman and CEO David Fischel noted the company's honor in partnering with the university and Dr. Szili-Torok, an original founder of the Society of Cardiac Robotic Navigation.

Stereotaxis has completed its acquisition of Robocath, a robotics company focused on cardiology and neurointerventions. The deal, valued at approximately $20 million in cash and common stock, was previously announced in April 2026. Through the acquisition, Stereotaxis gains Robocath's proprietary R-One technology, which has demonstrated a 98% technical procedure success rate with no major cardiovascular events reported and has received clearance in Europe and China. The companies plan to combine resources to develop next-generation robotic solutions for electrophysiology, interventional cardiology, and endovascular procedures.

Citizens maintained its Market Outperform rating on Stereotaxis with a $4.00 price target, citing a compelling razor/razor blade ecosystem as a driver of sustainable growth. Analyst Daniel Stauder pointed to developing tailwinds for system adoption and improved procedural utilization through 2026 and into 2027. The $4.00 target is based on an EV/revenue multiple of roughly 6x to 7x applied to a 2027 total sales estimate of $53 million, a premium multiple the firm considers reasonable given an expected approximately 30% top-line growth profile. Stereotaxis reported first-quarter 2026 revenue of $6.3 million, down from $7.5 million a year earlier, with recurring revenue pressured by the wind-down of its legacy Johnson & Johnson catheter relationship. The company ended the quarter with $14.6 million in cash and no debt, and noted that demand for its MAGiC cardiac ablation catheter far exceeds current supply.