# EDGAR Filing Document

**Accession Number:** 0001289340
**File Stem:** 0001641172-25-022580
**Filing Date:** 2025-8
**Character Count:** 18659
**Document Hash:** 0d388bb8cb3d372c1ecec1994a358a3a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001641172-25-022580.hdr.sgml**: 20250807

**ACCESSION NUMBER**: 0001641172-25-022580

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20250807

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250807

**DATE AS OF CHANGE**: 20250807

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Stereotaxis, Inc.
- **CENTRAL INDEX KEY:** 0001289340
- **STANDARD INDUSTRIAL CLASSIFICATION:** ELECTROMEDICAL & ELECTROTHERAPEUTIC APPARATUS [3845]
- **ORGANIZATION NAME:** 08 Industrial Applications and Services
- **EIN:** 943120386
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-36159
- **FILM NUMBER:** 251193814

**BUSINESS ADDRESS:**
- **STREET 1:** 710 N TUCKER BLVD
- **STREET 2:** STE 110
- **CITY:** ST.LOUIS
- **STATE:** MO
- **ZIP:** 63101
- **BUSINESS PHONE:** 314-678-6100

**MAIL ADDRESS:**
- **STREET 1:** 710 N TUCKER BLVD
- **STREET 2:** STE 110
- **CITY:** ST.LOUIS
- **STATE:** MO
- **ZIP:** 63101

?xml version='1.0' encoding='ASCII'?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, DC 20549**

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 OR 15(D) of the Securities Exchange Act Of 1934**

Date of report (Date of earliest event reported): August 7, 2025

**STEREOTAXIS, INC.**

(Exact Name of Registrant as Specified in Its Charter)

**Delaware**

(State or Other Jurisdiction of Incorporation)

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| | |
|:---|:---|
| **001-36159** | **94-3120386** |
| (Commission File Number) | (IRS Employer Identification No.) |

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| | |
|:---|:---|
| **710 North Tucker Boulevard, Suite 110, St. Louis, Missouri** | **63101** |
| (Address of Principal Executive Offices) | (Zip Code) |

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**(314) 678-6100**

**(Registrant's Telephone Number, Including Area Code)**

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

**Securities registered pursuant to Section 12(b) of the Act: ☐**

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| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol(s)** | **Name of each exchange on which registered** |
| Common Stock, par value $0.001 per share | STXS | NYSE American LLC |

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| | |
|:---|:---|
| **Item 2.02** | **Results of Operations and Financial Condition** |

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On August 7, 2025, Stereotaxis, Inc. (the "Company") issued a press release (the "Earnings Press Release") setting forth its financial results for the 2025 second quarter. A copy of the Earnings Press Release is being filed as Exhibit 99.1 hereto, and the statements contained therein are incorporated by reference herein.

Forward-Looking Statements and Additional Information

Statements are made herein or incorporated herein that are "forward-looking statements" as defined by the Securities and Exchange Commission (the "SEC"). All statements, other than statements of historical fact, included or incorporated herein that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements are not guarantees of future events or the Company's future performance and are subject to risks, uncertainties and other important factors that could cause events or the Company's actual performance or achievements to be materially different than those projected by the Company. For a full discussion of these risks, uncertainties and factors, the Company encourages you to read its documents on file with the SEC. Except as required by law, the Company does not intend to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.

In accordance with General Instruction B.2. of Form 8-K, the information contained in Item 2.02 and Exhibit 99.1 attached hereto shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall they be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

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| | |
|:---|:---|
| **Item 9.01** | **Financial Statements and Exhibits** |

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| | |
|:---|:---|
| (d) Exhibits. |  |
| 99.1 | [Stereotaxis, Inc. Earnings Press Release dated August 7, 2025.](ex99-1.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

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**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 hereunto duly authorized.

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| | | |
|:---|:---|:---|
|  | **STEREOTAXIS, INC.** | **STEREOTAXIS, INC.** |
| Date: August 7, 2025 | By: | */s/ Kimberly R. Peery* |
|  | Name: | Kimberly R. Peery |
|  | Title: | Chief Financial Officer |

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## Exhibit 99.1

**Exhibit 99.1**

![](ex99-1_001.jpg)

**Stereotaxis Reports 2025 Second Quarter Financial Results**

**St. Louis, MO, August 7, 2025 (Globe Newswire) –** Stereotaxis (NYSE: STXS), a pioneer and global leader in surgical robotics for minimally invasive endovascular intervention, today reported financial results for the second quarter ended June 30, 2025.

"We are pleased with our commercial results in the quarter. Sequential and year-over-year growth in both recurring and system revenue reflects the early positive impact of our innovations on commercial adoption," said David Fischel, Chairman and CEO. "This is an exciting milestone rich year with broad-based progress across the late stages of our comprehensive innovation strategy."

"Recent FDA clearance of MAGiC Sweep was a significant milestone as Stereotaxis' first FDA clearance for an interventional catheter in nearly 20 years. Initial sales of MAGiC Sweep this quarter will contribute, along with MAGiC and Map-iT, to ramping recurring revenue. We are proud of our recent regulatory successes and continue to expect multiple additional regulatory approvals in the coming weeks and months, in line with previously shared timelines. As we reach key regulatory milestones we are beginning to demonstrate the initial commercial impact of these innovations in supporting revenue growth, improved margins, and earnings accretion."

"Our progress in establishing a new foundational product ecosystem is transformational clinically, commercially and strategically. Our recently completed equity financing offers us a strengthened balance sheet with which to accelerate adoption of our comprehensive innovation strategy as we reach key milestones. This is a critical year in which we are establishing the healthy foundations for a preeminent high-growth robotic surgery company."

***2025 Second Quarter Financial Results***

 ****

Revenue for the second quarter of 2025 totaled $8.8 million, a 95% increase compared to $4.5 million in the prior year second quarter and a 18% increase sequentially compared to $7.5 million in the first quarter of 2025. System revenue for the second quarter was $3.0 million, compared to $0.2 million in the prior year second quarter, reflecting partial revenue recognition on two capital systems, including the first commercial GenesisX system. Recurring revenue was $5.8 million, growing 35% compared to $4.3 million in the prior year second quarter, reflecting contributions from Map-iT catheter revenue and the initial launch of MAGiC, Stereotaxis' proprietary robotically navigated ablation catheter.

Gross margin for the second quarter was 52% of revenue. Recurring revenue gross margin was 68% and system gross margin was 22%. Gross margins remain impacted by acquisition-related accounting that temporarily reduces disposable margin and by fixed overhead allocated over low system production levels.

Operating expenses in the second quarter of $8.6 million include $2.6 million of non-cash charges for stock compensation expense, acquisition related contingent earnout consideration and amortization of acquired intangible assets. Decreased operating expenses include a favorable adjustment on acquisition related contingent earnout consideration. Excluding these non-cash charges, adjusted operating expenses in the quarter were $6.0 million, compared to $6.8 million for adjusted operating expenses in the prior year second quarter. The Company received a $0.5 million Employee Retention Tax Credit reducing current period operating expenses.

Operating loss and net loss in the second quarter of 2025 were ($4.0) million and ($3.8) million, respectively, compared to ($6.0) million and ($5.8) million in the previous year. Adjusted operating loss and adjusted net loss for the quarter, excluding non-cash charges, were ($1.4) million and ($1.3) million, respectively, compared to ($3.5) million and ($3.3) million in the previous year. Negative free cash flow for the second quarter was ($3.7) million, compared to ($3.1) million in the previous year.

***Cash Balance and Liquidity***

 ****

At June 30, 2025, Stereotaxis had cash and cash equivalents of $7.0 million and no debt. In July, Stereotaxis announced raising $12.5 million in a registered direct financing from a strategic industry partner and institutional investors, with a first closing of $8.5 million completed in July. Incorporating the net proceeds from this offering, Stereotaxis' proforma cash balance would be $18.8 million in cash and no debt.

***Forward Looking Expectations***

 ****

Stereotaxis reiterates its expectation of double-digit revenue growth for the full year 2025, with system revenue of $2-3 million per quarter and recurring revenue scaling throughout the year to $7 million in the fourth quarter. These revenue expectations assume only modest contributions from GenesisX in Europe and no system revenue from China. Anticipated regulatory milestones and initial commercial launches in 2025 support substantial growth in 2026. Stereotaxis expects its balance sheet to allow it to advance its transformative product ecosystem to market, fund its commercialization, and profitably grow.

***Conference Call and Webcast***

 ****

Stereotaxis will host a conference call and webcast today, August 7, 2025, at 4:30 p.m. Eastern Time. To access the conference call, dial 888-596-4144 (US and Canada) or 1-646-968-2525 (International) and give the participant pass code 1064613. To access the live and replay webcast, please visit the investor relations section of the Stereotaxis website at www.Stereotaxis.com.

***About Stereotaxis***

 ****

Stereotaxis (NYSE: STXS) is a pioneer and global leader in innovative surgical robotics for minimally invasive endovascular intervention. Its mission is the discovery, development and delivery of robotic systems, instruments, and information solutions for the interventional laboratory. These innovations help physicians provide unsurpassed patient care with robotic precision and safety, expand access to minimally invasive therapy, and enhance the productivity, connectivity, and intelligence in the operating room. Stereotaxis technology has been used to treat over 150,000 patients across the United States, Europe, Asia, and elsewhere. For more information, please visit www.Stereotaxis.com.

*This press release includes statements that may constitute "forward-looking" statements, usually containing the words "believe", "estimate", "project", "expect" or similar expressions. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially. Factors that would cause or contribute to such differences include, but are not limited to, the Company's ability to manage expenses at sustainable levels, acceptance of the Company's products in the marketplace, the effect of global economic conditions, including tariffs, on the ability and willingness of customers to purchase its technology, competitive factors, changes resulting from healthcare policy, dependence upon third-party vendors, timing of regulatory approvals, the impact of pandemics or other disasters, statements relating to our recent acquisition of APT, including any benefits expected from the acquisition, and other risks discussed in the Company's periodic and other filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release. There can be no assurance that the Company will recognize revenue related to its purchase orders and other commitments because some of these purchase orders and other commitments are subject to contingencies that are outside of the Company's control and may be revised, modified, delayed, or canceled.*

**Company Contacts:**

David L. Fischel

Chairman and Chief Executive Officer

Kimberly R. Peery

Chief Financial Officer

314-678-6100

<u>Investors@Stereotaxis.com</u>

**STEREOTAXIS, INC.**

**CONSOLIDATED STATEMENTS OF OPERATIONS**

**(Unaudited)**

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| | | | | |
|:---|:---|:---|:---|:---|
| *(in thousands, except share and per share amounts)* | **Three Months Ended<br> June 30,** | **Three Months Ended<br> June 30,** | **Six Months Ended<br> June 30,** | **Six Months Ended<br> June 30,** |
|  | **2025** | **2024** | **2025** | **2024** |
| Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Systems | $3038 | $240 | $5002 | $2852 |
| &nbsp;&nbsp;&nbsp;Disposables, service and accessories | 5760 | 4262 | 11268 | 8530 |
| Total revenue | 8798 | 4502 | 16270 | 11382 |
| Cost of revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Systems | 2366 | 187 | 4033 | 2087 |
| &nbsp;&nbsp;&nbsp;Disposables, service and accessories | 1853 | 1002 | 3594 | 2016 |
| Total cost of revenue | 4219 | 1189 | 7627 | 4103 |
| Gross margin | 4579 | 3313 | 8643 | 7279 |
| Operating expenses: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Research and development | 1777 | 2273 | 4127 | 4516 |
| &nbsp;&nbsp;&nbsp;Sales and marketing | 3269 | 3301 | 6417 | 6304 |
| &nbsp;&nbsp;&nbsp;General and administrative | 4002 | 3760 | 8497 | 7226 |
| &nbsp;&nbsp;&nbsp;Other | (492) | - | (492) | - |
| Total operating expenses | 8556 | 9334 | 18549 | 18046 |
| Operating loss | (3977) | (6021) | (9906) | (10767) |
| Other expense | (1) | (3) | (1) | (3) |
| Interest income, net | 152 | 191 | 258 | 430 |
| Net loss | $(3826) | $(5833) | $(9649) | $(10340) |
| Cumulative dividend on convertible preferred stock | (318) | (325) | (632) | (656) |
| Net loss attributable to common stockholders | $(4144) | $(6158) | $(10281) | $(10996) |
| Net loss per share attributed to common stockholders: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Basic | $(0.05) | $(0.07) | $(0.12) | $(0.13) |
| &nbsp;&nbsp;&nbsp;Diluted | $(0.05) | $(0.07) | $(0.12) | $(0.13) |
| Weighted average number of common shares and equivalents: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Basic | 87952086 | 84570738 | 87861231 | 84025335 |
| &nbsp;&nbsp;&nbsp;Diluted | 87952086 | 84570738 | 87861231 | 84025335 |

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**STEREOTAXIS, INC.**

**CONSOLIDATED BALANCE SHEETS**

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| | | |
|:---|:---|:---|
| *(in thousands, except share amounts)* | **June 30,<br> 2025** | **December 31,<br> 2024** |
|  | **(Unaudited)** |  |
| Assets |  |  |
| Current assets: |  |  |
| &nbsp;&nbsp;&nbsp;Cash and cash equivalents | $6967 | $12217 |
| &nbsp;&nbsp;&nbsp;Restricted cash - current |  | 219 |
| &nbsp;&nbsp;&nbsp;Accounts receivable, net of allowance of $582 at 2025 and 2024, respectively | 4393 | 3824 |
| &nbsp;&nbsp;&nbsp;Inventories, net | 9608 | 8331 |
| &nbsp;&nbsp;&nbsp;Prepaid expenses and other current assets | 936 | 1848 |
| Total current assets | 21904 | 26439 |
| Property and equipment, net | 3284 | 3573 |
| Goodwill | 3764 | 3764 |
| Intangible assets, net | 6899 | 7358 |
| Operating lease right-of-use assets | 5204 | 5483 |
| Prepaid and other non-current assets | 118 | 107 |
| Total assets | $41173 | $46724 |
| Liabilities and stockholders' equity |  |  |
| Current liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;Accounts payable | $6730 | $5668 |
| &nbsp;&nbsp;&nbsp;Accrued liabilities | 1731 | 2922 |
| &nbsp;&nbsp;&nbsp;Deferred revenue | 5843 | 6804 |
| &nbsp;&nbsp;&nbsp;Current contingent consideration | 5839 | 5638 |
| &nbsp;&nbsp;&nbsp;Current portion of operating lease liabilities | 605 | 570 |
| Total current liabilities | 20748 | 21602 |
| Long-term deferred revenue | 1057 | 2064 |
| Long-term contingent consideration | 6384 | 6126 |
| Operating lease liabilities | 5122 | 5436 |
| Other liabilities | 1110 | 64 |
| Total liabilities | 34421 | 35292 |
| Series A - Convertible preferred stock: |  |  |
| &nbsp;&nbsp;&nbsp;Convertible preferred stock, Series A, par value $0.001; 10,000,000 shares authorized, 21,233 and 21,458 shares outstanding at 2025 and 2024, respectively | 5296 | 5352 |
| Stockholders' equity: |  |  |
| &nbsp;&nbsp;&nbsp;Common stock, par value $0.001; 300,000,000 shares authorized, 86,004,864 and 85,326,557 shares issued at 2025 and 2024, respectively | 86 | 85 |
| &nbsp;&nbsp;&nbsp;Additional paid-in capital | 572950 | 567926 |
| &nbsp;&nbsp;&nbsp;Treasury stock, 4,015 shares at 2025 and 2024 | (206) | (206) |
| &nbsp;&nbsp;&nbsp;Accumulated deficit | (571374) | (561725) |
| Total stockholders' equity | 1456 | 6080 |
| Total liabilities and stockholders' equity | $41173 | $46724 |

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