The Q1 miss is overshadowed by the FY2026 guidance of >$40M revenue, which implies a dramatic H2 ramp driven by MAGiC catheter and GenesisX placements. Traders should watch for manufacturing progress toward the 500-catheter/month target and initial GenesisX installations as key catalysts. The Robocath acquisition adds strategic optionality but near-term dilution risk is low per management. The stock's reaction will hinge on credibility of the H2 ramp — any manufacturing delays or order pushouts would be bearish.
Price Chart
Executive Summary
Stereotaxis reported Q1 2026 revenue of $6.3M (down 16% YoY from $7.5M) and EPS of -$0.06, missing the consensus estimate of -$0.05 by 20%. The miss was driven by a transition away from legacy J&J catheters, partially offset by initial sales of the newly FDA-approved MAGiC catheter and Synchrony system. Management guided for double-digit revenue growth in FY2026 with annual revenue expected to surpass $40M, implying a significant ramp in H2.
Key Financial Metrics
Key Facts
- Q1 2026 revenue $6.3M vs $7.5M YoY (-16%), missing $8.5M consensus
- EPS -$0.06 vs consensus -$0.05 (20% miss)
- Recurring revenue $5.0M vs $5.5M YoY (-9%) as legacy J&J catheter sales wind down
- System revenue $1.3M vs $2.0M YoY (-35%) with partial recognition on one Genesis installation
- Gross margin 60% (recurring 66%, systems 39%)
- Operating loss -$6.0M vs -$5.9M YoY; net loss -$5.9M vs -$5.8M YoY
- Negative free cash flow -$3.5M vs -$1.8M YoY
- Cash balance $14.6M with no debt
- MAGiC catheter received FDA approval in January 2026; initial commercial shipments underway
- Synchrony digital OR system received FDA clearance in April 2026
- Definitive agreement to acquire Robocath for complementary endovascular robotics
- Guidance: FY2026 revenue expected to surpass $40M (double-digit growth), with Q3 and Q4 each exceeding $10M
- Management expects to achieve profitability without substantial dilution
Financial Impact
Revenue miss of ~$2.2M vs consensus; EPS miss of $0.01; negative FCF of -$3.5M; guided FY2026 revenue >$40M implies ~$34M in H2 alone
Risk Factors
- Manufacturing ramp for MAGiC catheter may fall short of 500/month target by year-end
- Transition away from J&J catheters continues to pressure recurring revenue
- Negative FCF of -$3.5M in Q1 with only $14.6M cash — cash runway limited if ramp stalls
- Integration risk from Robocath acquisition
- Guidance of >$40M revenue implies ~5.4x Q1 run-rate — execution risk is high
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3293406 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 3, 2026 7w ago | Press Release | $1.39 $1.18 | ▼ −15.11% | ▼ −13.92% | $0.9900 (−28.78%) |
Aug 14, 2026 10w ago | EFFECT | $1.38 $1.33 | ▲ +3.62% | ▲ +1.63% | $0.9900 (+28.26%) |
Aug 14, 2026 10w ago | EFFECT | $1.38 $1.33 | ▲ +3.62% | ▲ +1.63% | $0.9900 (+28.26%) |
Aug 11, 2026 10w ago | Press Release | $1.40 $1.30 | ▼ −7.14% | ▼ −5.25% | $0.9900 (−29.29%) |
Jul 15, 2026 14w ago | S-3 | $1.65 $1.38 | ▲ +16.36% | ▲ +19.98% | $0.9900 (+40.00%) |
Jul 15, 2026 14w ago | S-3 | $1.65 $1.38 | ▼ −16.36% | ▼ −19.98% | $0.9900 (−40.00%) |
Jul 9, 2026 15w ago | 8-K | $1.74 $1.36 | ▼ −21.84% | ▼ −24.08% | $0.9900 (−43.10%) |
May 12, 2026 23w ago | 8-K | $1.85 $1.82 | ▲ +1.62% | ▲ +1.01% | $0.9900 (+46.49%) |
May 12, 2026 23w ago | Press Release | $1.85 $1.82 | ▼ −1.62% | ▼ −1.01% | $0.9900 (−46.49%) |
Apr 21, 2026 26w ago | Press Release | $1.92 $1.78 | ▼ −7.29% | ▼ −12.21% | $0.9900 (−48.44%) |
US Market Status
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