Reports Q3 revenue $9.2M, consensus $7.1M.”The past quarter was marked by solid commercial execution, continued broad-based technological progress, successful operational integration of APT, and maintained financial discipline,” said David Fischel, Chairman and CEO. “We are making broad, methodical progress in establishing the healthy foundations for a preeminent robotic surgery company.” “Revenue growth in the third quarter was driven by continued demand for Genesis with partial revenue recognition of three robotic systems. We received orders for two Genesis systems during the third quarter and expect to receive the first GenesisX order in the near future. A robust system pipeline along with existing system backlog of over $15 million supports continued revenue growth.” …”The acquisition of APT in the third quarter is already demonstrating commercial and strategic value. I want to thank and highlight both teams for the significant efforts and accomplishments in integrating operations successfully. The unique expertise of APT is highly complementary and additive to Stereotaxis (STXS)’ strategy as we increasingly focus on a broad family of robotically-steered endovascular devices.” “We remain cognizant of the importance of maintaining financial strength and discipline. Increased system revenue late in the third quarter led to significant associated cash receipts, providing us a solid balance sheet with over $13 million in cash and no debt at the end of October.”
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