Stereotaxis
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8-K
STEREOTAXIS, INC. filed this Form 8-K on 03/12/2019
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Exhibit 99.1

 

 

 

Stereotaxis Reports 2018 Full Year Financial Results

 

  Record high annual recurring revenue of $27.8 million; 3% annual growth
  Positive annual net income for the first time in Company history despite significantly increased R&D investments
  Innovation initiatives to be showcased in May at Heart Rhythm Society meeting
  Strong financial position to reach profitability without the need for additional financings
  Conference call today at 10:00 a.m. Eastern Time

 

ST. LOUIS, MO, March 12, 2019 – Stereotaxis, Inc. (OTCQX: STXS), the global leader in innovative robotic technologies for the treatment of cardiac arrhythmias, today reported financial results for the fourth quarter and full year ended December 31, 2018.

 

“2018 was an extremely active year at Stereotaxis with progress on multiple fronts,” said David Fischel, Chairman and CEO. “Our primary areas of focus have been advancing a robust innovation strategy and developing the commercial infrastructure to support improved performance. These have progressed well and have been accomplished while maintaining financial discipline.”

 

“We have made meaningful progress on our strategic innovation initiatives and look forward to showcasing our progress in the second quarter at the Heart Rhythm Society meeting. The collaborations announced over the past year reflect just a portion of the relationships we are building across the industry. We are confident that our innovation strategy is clinically and commercially sound, will provide significant benefits to patients, physicians and hospitals, and will substantially increase Stereotaxis’ opportunity.”

 

“We achieved record recurring revenue for the year while establishing the foundational commercial infrastructure crucial for ensuring the success of robotic electrophysiology practices. With this commercial infrastructure now in place we have begun more actively engaging with customers to help them showcase their clinical and technological leadership. We expect this to create the right environment for increased demand for robotics, and combined with specific innovation, to support a return to more robust system revenue.”

 

“We are proud that this fundamental progress was accomplished while maintaining financial discipline. Despite a significantly increased investment in R&D, the Company achieved a milestone of positive annual net income in 2018.”

 

 
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