<PAGE>

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549

                                    FORM 10-Q

/X/      QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE 
         SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD 
         ENDED MARCH 31, 1999
               ----------------

/ /      TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE 
         SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD 
         FROM                TO              .
              --------------    -------------

COMMISSION FILE NO. 0-22233

ENDOCARDIAL SOLUTIONS, INC.
---------------------------
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)

DELAWARE                                         41-1724963
--------                                         ----------
(STATE OR OTHER JURISDICTION OF                  (IRS EMPLOYER IDENTIFICATION
INCORPORATION OR ORGANIZATION)                   NUMBER)

1350 ENERGY LANE                                 (651) 523-6900
SUITE 110                                        -------------
SAINT PAUL, MINNESOTA  55108                     (REGISTRANT'S TELEPHONE NUMBER
----------------------------                     INCLUDING AREA CODE)
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES 
AND ZIP CODE)

INDICATE BY CHECK MARK WHETHER THE REGISTRANT (1) HAS FILED ALL REPORTS 
REQUIRED TO BE FILED BY SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT 
OF 1934 DURING THE PRECEDING TWELVE (12) MONTHS (OR FOR SUCH SHORTER PERIOD 
THAT THE REGISTRANT WAS REQUIRED TO FILE SUCH REPORTS) AND (2) HAS BEEN 
SUBJECT TO SUCH FILING REQUIREMENTS FOR THE PAST 90 DAYS.

                    YES   X                     NO
                        -----                      -----

INDICATE THE NUMBER OF SHARES OUTSTANDING OF EACH OF THE ISSUER'S CLASSES OF 
COMMON STOCK, AS OF THE LATEST PRACTICABLE DATE.

COMMON STOCK, $.01 PAR VALUE                                  9,045,627
----------------------------                     (NUMBER OF SHARES OUTSTANDING
(CLASS)                                                  AT MARCH 31, 1999)

                                       1
<PAGE>

                                      INDEX

                           ENDOCARDIAL SOLUTIONS, INC.

<TABLE>
<CAPTION>
                                                                            PAGE NO.
<S>                                                                        <C>
PART I.  FINANCIAL INFORMATION

Item 1.  Financial Statements (Unaudited)

         Balance Sheets - March 31, 1999 and December 31, 1998                  3

         Statements of Operations - Three month periods ended
         March 31, 1999 and March 31, 1998                                      4

         Statements of Cash Flows - Three months ended
         March 31, 1999 and March 31, 1998                                      5

         Notes to Financial Statements                                          6

Item 2.  Management's Discussion and Analysis
         of Financial Condition and Results of Operations                       7-9

Item 3.  Quantitative and Qualitative Disclosures about Market Risk             10


PART II.  OTHER INFORMATION

Items 1 through 5 have been omitted since all items are inapplicable or 
  answers negative.

Item 6.  Exhibits and Reports on Form 8-K                                       10
</TABLE>


                                       2
<PAGE>

PART I - FINANCIAL INFORMATION

ITEM 1.  FINANCIAL STATEMENTS

                           ENDOCARDIAL SOLUTIONS, INC.

                                 BALANCE SHEETS

<TABLE>
<CAPTION>
                                                                            March 31,         December 31,
                                                                               1999               1998
                                                                        ----------------   -----------------
                                                                           (Unaudited)            (Note)
<S>                                                                     <C>                 <C>
ASSETS
Current Assets:
   Cash and cash equivalents                                             $    1,613,923     $       654,529
   Short-term investments                                                     7,349,033           8,060,303
   Accounts Receivable                                                          931,199             475,750
   Inventories                                                                1,928,308           1,827,061
   Prepaid expenses and other current assets                                    169,065             205,161
                                                                        ----------------   -----------------
Total current assets                                                         11,991,528          11,222,804

Furniture and equipment                                                       4,268,631           3,942,741
Less accumulated depreciation                                                (1,840,312)         (1,668,305)
                                                                        ----------------   -----------------
                                                                              2,428,319           2,274,436

Deposits                                                                         81,709              81,709
Patents, net of accumulated amortization 
 (1999 - $78,630; 1998 - $74,440)                                                38,452              42,642
                                                                        ----------------   -----------------
Total assets                                                             $   14,540,008     $    13,621,591
                                                                        ----------------   -----------------
                                                                        ----------------   -----------------

LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities:
   Accounts payable                                                      $    1,169,716     $       762,147
   Accrued salaries and expenses                                                524,366             706,724
   Current portion of capital lease obligations                                 886,865             876,959
                                                                        ----------------   -----------------
Total current liabilities                                                     2,580,947           2,345,830

Capital lease obligations                                                     4,381,371             812,339

Stockholders' equity:
  Undesignated Preferred Stock, par value $.01 per share:
    Authorized shares--10,000,000
    Issued and outstanding shares--none                                               -                   -
  Common Stock, $.01 par value
    Authorized shares--March 31, 1999--40,000,000; 
     December 31, 1998--40,000,000
    Issued and outstanding shares--March 31, 1999--9,045,627; 
     December 31, 1998--9,011,762                                                90,456              90,118
  Additional paid-in capital                                                 50,437,280          50,329,703
  Accumulated deficit                                                       (42,880,450)        (39,863,607)
  Deferred compensation                                                         (69,596)            (92,792)
                                                                        ----------------   -----------------
Total stockholders' equity                                                    7,577,690          10,463,422
                                                                        ----------------   -----------------
Total liabilities and stockholders' equity                               $   14,540,008     $    13,621,591
                                                                        ----------------   -----------------
                                                                        ----------------   -----------------
</TABLE>

Note: The balance sheet at December 31, 1998 has been derived from the 
audited financial statements at that date but does not include all of the 
information and footnotes required by generally accepted accounting 
principles for complete financial statements.

SEE ACCOMPANYING NOTES.

                                       3
<PAGE>

                         ENDOCARDIAL SOLUTIONS, INC.

                           STATEMENTS OF OPERATIONS
                                 (Unaudited)

<TABLE>
<CAPTION>
                                                                      For the Three Months Ended
                                                                  ----------------------------------
                                                                      March 31,          March 31,
                                                                        1999                1998
                                                                  ----------------  ----------------
<S>                                                               <C>               <C>
Revenue                                                            $   1,293,381     $           -

  Cost of goods sold                                                   1,441,918           517,125
                                                                  ----------------  ----------------
Gross margin                                                            (148,537)         (517,125)

Operating expenses:
  Research and development                                             1,364,980         5,339,649
  General and administrative                                             475,549           374,132
  Sales and marketing                                                    978,542           247,239
                                                                  ----------------  ----------------
Operating loss                                                        (2,967,608)       (6,478,145)

Other income (expense):
  Interest income                                                        113,077           277,935
  Interest expense                                                       (58,551)          (17,173)
                                                                  ----------------  ----------------
                                                                          54,526           260,762
                                                                  ----------------  ----------------

Net loss for the period and accumulated deficit                    $  (2,913,082)    $  (6,217,383)
                                                                  ----------------  ----------------
                                                                  ----------------  ----------------

Net loss per share - basic and diluted                             $       (0.32)    $       (0.69)
                                                                  ----------------  ----------------
                                                                  ----------------  ----------------

Weighted average shares outstanding                                    9,023,632         8,961,187
                                                                  ----------------  ----------------
                                                                  ----------------  ----------------
</TABLE>

SEE ACCOMPANYING NOTES.

                                       4
<PAGE>

                           ENDOCARDIAL SOLUTIONS, INC.

                            STATEMENTS OF CASH FLOWS

                                   (Unaudited)

<TABLE>
<CAPTION>
                                                                                      For the Three Months Ended
                                                                                  ----------------------------------
                                                                                      March 31,          March 31,
                                                                                        1999               1998
                                                                                  ----------------  ----------------
<S>                                                                               <C>               <C>
OPERATING ACTIVITIES
Net loss                                                                           $   (2,913,082)   $  (6,217,383)
Adjustments to reconcile net loss to net cash used in operating activities:
  Depreciation and amortization                                                           176,197          123,787
  Amortization of deferred compensation                                                    23,196           54,129
  Value of warrants granted in connection with purchase of technology                           -        2,085,602
  Loss on disposal of equipment                                                                 -                -
  Changes in operating assets and liabilities:
    Accounts Receivable                                                                  (455,449)               -
    Inventory                                                                            (101,247)        (265,514)
    Prepaid expenses and other assets                                                      36,096          (79,036)
    Accounts payable                                                                      407,569          301,178
    Accrued salaries and expenses                                                        (182,358)        (345,040)
                                                                                  ----------------  ----------------
Net cash provided by (used in) operating activities                                    (3,009,078)      (4,342,277)

INVESTING ACTIVITIES
Purchases of short-term investments                                                    (1,998,730)      (3,183,113)
Maturities of short-term investments                                                    2,710,000        6,692,606
Purchases of furniture and equipment                                                      (86,639)        (155,758)
Patent expenditures                                                                             -                -
Proceeds from sale of equipment                                                                 -                -
                                                                                  ----------------  ----------------
Net cash provided by (used in) investing activities                                       624,631        3,353,735

FINANCING ACTIVITIES
Proceeds from notes payable                                                             3,500,000                -
Principal payments on notes payable and capital lease obligations                        (160,314)        (124,617)
Proceeds from issuance of common stock                                                      4,155           26,740
Proceeds from issuance of preferred stock                                                       -                -
                                                                                  ----------------  ----------------
Net cash provided by (used in) financing activities                                     3,343,841          (97,877)

Increase (decrease) in cash and cash equivalents                                          959,394       (1,086,419)
Cash and cash equivalents at beginning of period                                          654,529        1,512,656
                                                                                  ----------------  ----------------
Cash and cash equivalents at end of period                                         $    1,613,923    $     426,237
                                                                                  ----------------  ----------------
                                                                                  ----------------  ----------------

SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES

Purchase of equipment through capital lease obligations                            $      239,251    $            -
</TABLE>

SEE ACCOMPANYING NOTES.

                                       5
<PAGE>

                            ENDOCARDIAL SOLUTIONS, INC.

                           NOTES TO FINANCIAL STATEMENTS

                                    (Unaudited)

1.  BASIS OF PRESENTATION

The accompanying unaudited financial statements have been prepared in 
accordance with generally accepted accounting principles for interim 
financial information and with the instructions to Form 10-Q and Article 10 
of Regulation S-X. Accordingly, they do not include all the information and 
footnotes required by generally accepted accounting principles for complete 
financial statements. In the opinion of management all adjustments 
(consisting of normal recurring accruals) considered necessary for a fair 
presentation have been included. Due to the Company's full market release in 
Europe in the third quarter 1998, the Company is no longer considered to be 
in the development stage. Operating results for the three months ended March 
31, 1999, are not necessarily indicative of the results that may be expected 
for the year ending December 31, 1999. These financial statements should be 
read in conjunction with the audited financial statements and accompanying 
notes for the fiscal year ended December 31, 1998, contained in the Company's 
10-K.

2.  INVENTORIES

Inventories are carried at the lower of cost (first-in, first-out basis) or 
market. The majority of inventory consists of purchased components. To 
determine the technological feasibility of its software efforts, the Company 
utilizes the working model approach available under SFAS No. 86 and believes 
that the working model was achieved when the software was available for 
commercial use in June 1998.

3.  RECLASSIFICATIONS

Certain prior year items have been reclassified to conform to current year 
presentations.



                                       6
<PAGE>

ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND 
RESULTS OF OPERATIONS.

GENERAL

Endocardial Solutions Inc. (the "Company"), was incorporated in May 1992. The 
Company develops, manufactures and markets the EnSite 3000-TM- clinical 
workstation and EnSite-TM- catheter for use by electrophysiologists in 
diagnosing and mapping abnormal heart rhythms known as arryhthmias. The 
EnSite 3000-TM- clinical workstation and EnSite-TM- catheter are available in 
full market release to electrophysiologists in Europe.

RESULTS OF OPERATIONS

GENERAL. Net losses decreased to $2,913,082 for the three months ended March 
31, 1999, from $6,217,383 for the same period in 1998. The loss for the three 
months ended March 31, 1998 includes expenses of $3,585,602 for the 
acquisition of locator technology that was purchased during the first quarter 
from Medtronic, Inc. The Company expects losses to continue through at least 
1999. The Company is continuing a period of growth in marketing expenses 
related to market introduction, including increases in personnel costs.

REVENUE AND COST OF GOODS SOLD. The Company recorded revenue for the fourth 
consecutive quarter since inception. Revenue for the three months ended March 
31, 1999 was $1,293,381 and included sales of the Company's EnSite-TM- 
catheter and EnSite 3000-TM- clinical workstation, including the Company's 
proprietary software, patient interface unit and other peripherals. Cost of 
goods sold and unabsorbed manufacturing expenses were $517,125 and $1,441,918 
for the quarter ended March 31, 1998 and 1999, respectively. Manufacturing 
expenses include costs for unabsorbed overhead from the production of 
inventory held for re-sale.

RESEARCH AND DEVELOPMENT EXPENSES. Research and development expenses were 
$1,364,980 for the three month period ended March 31, 1999, compared to 
$5,339,649 during the same period in 1998, a decrease of $3,974,669. The 
expenses for the three months ended March 31, 1998, included $3,585,602 for 
the acquisition of locator technology that was purchased during the first 
quarter of 1998 from Medtronic, Inc. The Company experienced a decrease of 
$389,000 in research and development expenses after subtracting for the 
purchase of the locator technology. The decrease is attributable to a 
reduction in clinical trial expenses and software development costs. The 
Company believes research and development expenditures will increase slightly 
for the remainder of 1999.

GENERAL AND ADMINISTRATIVE EXPENSES. General and administrative expenses were 
$475,549 and $374,132 for the three months ended March 31, 1999 and 1998, 
respectively. The increase of $101,417 was due to an increase in personnel 
costs.

SALES AND MARKETING EXPENSES. Sales and marketing expenses increased to 
$978,542 during the three months ended March 31, 1999, from $247,239 during 
the same period in 1998, an increase of $731,303. The increase is 
attributable to increases in personnel and costs associated with the 
Company's European market release and market research activities. The Company 
expects continued increases in sales and marketing expenses as the Company 
prepares for a U.S. product launch.

INTEREST INCOME. Interest income was $113,077 and $277,935 for the three 
months ended March 31, 1999 and 1998, respectively. The decrease of $164,858 
was due to a reduction in the cash, cash equivalents and short-term 
investments between March 31, 1999 and March 31, 1998.

                                       7
<PAGE>

LIQUIDITY AND CAPITAL RESOURCES.

On March 24, 1997, the Company received net proceeds of approximately 
$18,833,000 from an initial public offering of 2,250,000 shares of its common 
stock and approximately $6,278,000 from a concurrent private placement to 
Medtronic, Inc. of 750,000 shares of its common stock. The Company's common 
stock is listed on the NASDAQ National Market under the symbol "ECSI."

The Company's operations since inception have been funded by net proceeds 
from the sales of common and preferred stock totaling approximately 
$50,528,000 through March 31, 1999. As of March 31, 1999 and December 31, 
1998, the Company had cash, cash equivalents and short-term investments of 
approximately $8,963,000 and $8,715,000, respectively.

The Company announced a financing agreement with Medtronic, Inc. during the 
first quarter 1999. Under the agreement, the Company will receive $7 million 
from Medtronic Asset Management, which is repayable by 2001 or, if earlier, 
at the close of a significant round of debt or equity financing.

The Company believes that its existing cash, cash equivalents and short-term 
investments will be sufficient to fund the operations of the Company into the 
first quarter 2000. The Company's future liquidity and capital requirements 
will depend on numerous factors, including the timing of regulatory actions 
regarding the Company's products, the results of clinical trials and 
competition, the extent to which the Company's EnSite System gains market 
acceptance and the costs and timing of expansion of sales, marketing and 
manufacturing activities.

YEAR 2000

Many currently installed computer systems and software are coded to accept 
only two-digit entries in the date code fields. These date code fields will 
need to accept four-digit entries to distinguish 21st century dates. This 
problem could result in system failures or miscalculations causing 
disruptions of business operations (including, among other things, a 
temporary inability to process transactions, send invoices or engage in other 
similar business activities). As a result, many companies' computer systems 
and software will need to be upgraded or replaced in order to comply with 
Year 2000 requirements. The potential global impact of the Year 2000 problem 
is not known, and if not corrected in a timely manner, could affect the 
Company and the US and world economy generally.

The Company has formed a project team consisting of representatives from its 
information technology, finance, manufacturing, product development and 
quality department to address internal and external Year 2000 issues. The 
Company's internal financial, manufacturing and other operational computer 
systems have been upgraded to address Year 2000 issues. Management believes 
that the new software substantially addresses Year 2000 issues. The Company 
believes it has completed it Year 2000 compliance program for all of its 
significant internal financial and manufacturing systems. The Company may be 
required, however, to make minor modification to some of its existing 
hardware and software packages in order for its computer system to function 
properly in the year 2000 and thereafter.

The Company's product development processes contain steps to include 
Year 2000 compliance verification for all current and future products. The 
Company has tested the EnSite 3000 System and determined it to be Year 2000 
compliant.


In addition, the Company has received assurances from its major suppliers 
that they are addressing the Year 2000 issue and that product purchased by 
the Company from such suppliers will function properly in 

                                       8
<PAGE>

the year 2000. These actions are intended to help mitigate the possible 
external impact of the Year 2000 problem. Even assuming that all material 
third parties confirm that they are or expect to be Year 2000 compliant by 
December 31, 1999, it is not possible to state with certainty that such 
parties will be so compliant. It is impossible to fully assess the potential 
consequences in the event service interruptions from suppliers occur or in 
the event that there are disruptions in infrastructure areas as utilities, 
communication, transportation, banking and government.

The amount of remediation work required to address Year 2000 problems is not 
expected to be extensive and the total estimated cost for resolving the 
Company's Year 2000 issues is minimal and not expected to have a material 
effect on the Company's financial position, results of operations, or cash 
flows. The Company expects the remainder of the Year 2000 compliance program 
to be substantially complete by third quarter 1999.

Based on the Company's assessment to date, the Company believes it will not 
experience any material disruption as a result of Year 2000 problems in its 
financial, internal manufacturing processes or the EnSite 3000-TM- System. 
However, there can be no guarantee that the systems of other companies on 
which the Company relies will be converted in a timely manner, or that a 
failure to convert by another company, or a conversion that is incompatible 
with the Company's systems, would not have a material adverse effect on the 
Company. The Company has not yet developed a contingency plan to provide for 
continuity of processing in such event of various problem scenarios, but it 
will assess the need to develop such a plan based on the outcome of its 
validation phase of its Year 2000 compliance program and the results of 
surveying it major suppliers. Assuming no major disruption in service from 
utility companies or other critical third-party providers, the Company 
believes that it will be able to manage its total Year 2000 transition 
without any material effect on the Company's results of operations or 
financial condition. There can be no assurance, however, that unexpected 
difficulties will not arise and, if so, that the Company will be able to 
timely develop and implement a contingency plan.

CAUTIONARY STATEMENT

Except for the historical information contained herein, this Quarterly Report 
on Form 10-Q contains forward-looking statements within the meaning of 
Section 27A of the Securities Act of 1933, as amended, and Section 21E of the 
Securities Exchange Act of 1934, as amended. When used in this Form 10-Q and 
in future filings by the Company with the Securities and Exchange Commission, 
in the Company's press releases and in oral statements made with the approval 
of an authorized executive officer, the word or phrases "believes," 
"anticipates," "expects," "intends," "will likely result," "estimates," 
"projects" or similar expressions are intended to identify such 
forward-looking statements, but are not the exclusive means of identifying 
such statements. These forward-looking statements involve risks and 
uncertainties that may cause the Company's actual results to differ 
materially from the results discussed in the forward-looking statements. 
Factors that might cause such differences include, but are not limited to, 
the following: risks associated with the successful development and 
commercialization of a new technology: limited clinical testing experience; 
uncertainty of obtaining Food and Drug Administration and international 
regulatory clearances; uncertainty of availability of treatments employing 
the EnSite System; uncertainty of market acceptance of the EnSite System; 
training requirements for electrophysiologists; the uncertainty of the 
ability to diagnose and treat atrial fibrillation; the expectation of future 
losses; significant competition and rapid technological change in the 
tachycardia diagnostic market; risks associated with the Company's dependence 
on patents and proprietary technology; risks associated with the Company's 
limited manufacturing experience and dependence on suppliers; and the 
uncertainty of third-party reimbursement for diagnostic medical procedures 
employing the EnSite System. These factors are discussed in the cautionary 
statements included in Exhibit 99 to this Form 10-Q for the quarter ended 
March 31, 1999. Other forward-looking statements are found in the Company's 
discussion of Year 2000 compliance issues and market risk. The Company 
cautions investors and others to review the statements set forth in 
Management's Discussion and Analysis of Financial Condition and Results of 
Operations, Exhibit 99 and 

                                       9
<PAGE>

in the Company's other reports filed with the Securities and Exchange 
Commission and that other factors may prove to be important in affecting the 
Company's business and results of operations.

ITEM 3.  QUALITATIVE AND QUANTITATIVE DISCLOSURES ABOUT MARKET RISK.

The Company had approximately $9 million of cash and investments on March 31, 
1999. Substantially all of the investments were U.S. government or investment 
grade, fixed income securities from domestic issuers. Because of the credit 
risk criteria of the Company's investment policies, the primary market risk 
associated with these investments is interest rate risk. The Company does not 
use derivative financial instruments to manage interest rate risk or to 
speculate on future changes in interest rates. A rise in interest rates could 
negatively affect the fair value of the Company's investments; however, 
because management considers it unlikely that the Company would need or 
choose to substantially liquidate the Company's investments, management 
believes that such an increase in interest rates would not have a material 
impact on the Company's future earnings or cash flows. Even though the 
Company distributes products abroad, the Company does not conduct sales in 
foreign currencies. Therefore, management does not believe the Company is 
exposed to any material foreign currency exchange rate risk.

PART II.  OTHER INFORMATION

ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K

(a)      Exhibits

<TABLE>
<CAPTION>
Exhibit           Description
-------           -----------
<S>               <C>
27                Financial Data Schedule (EDGAR filing only)

99                Cautionary Statement
</TABLE>

(b)      Reports

The Company filed no reports on Form 8-K during the quarter ended March 31, 
1999.



                                       10
<PAGE>

                                  SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the 
registrant has duly caused this report to be signed on its behalf by the 
undersigned thereunto duly authorized.

                                   ENDOCARDIAL SOLUTIONS, INC.



Dated:   May 17, 1999              By: /S/ James W. Bullock
                                       --------------------
                                         James W. Bullock
                                         President and Chief Executive Officer
                                         (Principal Executive Officer)



Dated:   May 17, 1999              By:/S/ Leota L. Pearson
                                      --------------------
                                         Leota L. Pearson
                                         Vice President Finance and Chief 
                                         Financial Officcer
                                         (Principal Financial and Accounting 
                                         Officer)








                                       11