2023 Q1 Form 10-K Financial Statement

#000149315223007106 Filed on March 09, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $6.548M $7.301M $28.15M
YoY Change -6.95% -11.4% -19.63%
Cost Of Revenue $2.672M $2.992M $9.677M
YoY Change 26.46% 30.59% -17.92%
Gross Profit $3.876M $4.309M $18.47M
YoY Change -21.28% -27.57% -20.5%
Gross Profit Margin 59.19% 59.02% 65.62%
Selling, General & Admin $6.749M $6.365M $26.69M
YoY Change 2.79% -4.78% 2.96%
% of Gross Profit 174.12% 147.71% 144.49%
Research & Development $2.746M $2.400M $10.56M
YoY Change 12.22% -8.21% 3.52%
% of Gross Profit 70.85% 55.7% 57.16%
Depreciation & Amortization $160.0K $131.0K $429.0K
YoY Change 60.0% 401.92% 306.06%
% of Gross Profit 4.13% 3.04% 2.32%
Operating Expenses $9.495M $8.765M $37.25M
YoY Change 5.35% -5.74% 3.12%
Operating Profit -$5.619M -$4.456M -$18.78M
YoY Change 37.42% 33.02% 45.68%
Interest Expense $272.0K $302.0K $484.0K
YoY Change 8966.67% -6826.06% -4906.36%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$5.347M -$4.154M -$18.29M
YoY Change 30.86% 23.84% 70.7%
Income Tax
% Of Pretax Income
Net Earnings -$5.347M -$4.492M -$18.29M
YoY Change 30.86% 33.92% 70.7%
Net Earnings / Revenue -81.66% -61.53% -64.99%
Basic Earnings Per Share -$0.07 -$0.26
Diluted Earnings Per Share -$0.07 -$0.06 -$0.26
COMMON SHARES
Basic Shares Outstanding 75.05M shares 74.84M shares 76.06M shares
Diluted Shares Outstanding 76.50M shares 76.06M shares

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $25.66M $28.43M $28.43M
YoY Change -26.87% -26.61% -26.61%
Cash & Equivalents $5.623M $8.586M $8.586M
Short-Term Investments $20.04M $19.84M $19.84M
Other Short-Term Assets $1.857M $1.850M $1.850M
YoY Change -25.6% -34.17% -34.17%
Inventory $8.510M $7.876M $7.876M
Prepaid Expenses
Receivables $4.874M $5.090M $5.090M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $40.91M $43.25M $43.25M
YoY Change -13.22% -15.84% -15.84%
LONG-TERM ASSETS
Property, Plant & Equipment $3.722M $3.831M $9.215M
YoY Change -58.2% 45.55% 10.14%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $796.0K $952.0K $952.0K
YoY Change -42.77% -22.58% -22.58%
Total Long-Term Assets $9.806M $10.17M $10.17M
YoY Change -4.75% 5.94% 5.95%
TOTAL ASSETS
Total Short-Term Assets $40.91M $43.25M $43.25M
Total Long-Term Assets $9.806M $10.17M $10.17M
Total Assets $50.71M $53.41M $53.41M
YoY Change -11.7% -12.42% -12.42%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.535M $3.270M $3.270M
YoY Change 22.23% -21.94% -21.93%
Accrued Expenses $2.804M $3.306M $2.587M
YoY Change 35.92% 30.78% -1.22%
Deferred Revenue $7.545M $7.342M
YoY Change 16.97%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $14.27M $14.29M $14.29M
YoY Change 24.18% 7.76% 7.76%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $51.00K $51.00K $7.193M
YoY Change -99.37% -76.71% -13.33%
Total Long-Term Liabilities $51.00K $51.00K $7.193M
YoY Change -99.37% -76.71% -13.33%
TOTAL LIABILITIES
Total Short-Term Liabilities $14.27M $14.29M $14.29M
Total Long-Term Liabilities $51.00K $51.00K $7.193M
Total Liabilities $21.42M $21.48M $21.48M
YoY Change 9.71% -0.36% -0.36%
SHAREHOLDERS EQUITY
Retained Earnings -$522.3M -$517.0M
YoY Change 3.67%
Common Stock $75.00K $75.00K
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $23.71M $26.35M $31.93M
YoY Change
Total Liabilities & Shareholders Equity $50.71M $53.41M $53.41M
YoY Change -11.7% -12.42% -12.42%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income -$5.347M -$4.492M -$18.29M
YoY Change 30.86% 33.92% 70.7%
Depreciation, Depletion And Amortization $160.0K $131.0K $429.0K
YoY Change 60.0% 401.92% 306.06%
Cash From Operating Activities -$2.802M -$2.552M -$8.415M
YoY Change 27.77% 24.13% 185.65%
INVESTING ACTIVITIES
Capital Expenditures $349.0K $369.0K $2.378M
YoY Change -130.24% -202.8% -270.27%
Acquisitions
YoY Change
Other Investing Activities -$19.72M -$19.72M
YoY Change
Cash From Investing Activities -$349.0K -$20.09M -$22.09M
YoY Change -69.76% 5495.64% 1482.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $220.0K
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $56.00K 61.00K $220.0K
YoY Change 3.7% 420.03% -59.81%
NET CHANGE
Cash From Operating Activities -$2.802M -2.552M -$8.415M
Cash From Investing Activities -$349.0K -20.09M -$22.09M
Cash From Financing Activities $56.00K 61.00K $220.0K
Net Change In Cash -$3.095M -22.58M -$30.29M
YoY Change -6.01% 839.44% 698.11%
FREE CASH FLOW
Cash From Operating Activities -$2.802M -$2.552M -$8.415M
Capital Expenditures $349.0K $369.0K $2.378M
Free Cash Flow -$3.151M -$2.921M -$10.79M
YoY Change 203.27% 72.13% 596.63%

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128000 usd
CY2022 us-gaap Increase Decrease In Accounts Receivable
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CY2021 us-gaap Increase Decrease In Accounts Receivable
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1891000 usd
CY2022 us-gaap Increase Decrease In Inventories
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2906000 usd
CY2021 us-gaap Increase Decrease In Inventories
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1138000 usd
CY2022 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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CY2021 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
640000 usd
CY2021 STXS Increase Decrease Compensating Cash Arrangement
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-251000 usd
CY2022 us-gaap Increase Decrease In Other Operating Assets
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-70000 usd
CY2021 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-30000 usd
CY2022 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-169000 usd
CY2021 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
1434000 usd
CY2022 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-267000 usd
CY2021 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
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CY2022 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
989000 usd
CY2021 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
2683000 usd
CY2022 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
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CY2021 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
87000 usd
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CY2021 us-gaap Net Cash Provided By Used In Operating Activities
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CY2022 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
2378000 usd
CY2021 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
1397000 usd
CY2022 us-gaap Payments To Acquire Short Term Investments
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19716000 usd
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CY2021 us-gaap Net Cash Provided By Used In Investing Activities
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CY2022 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
220000 usd
CY2021 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
547000 usd
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
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220000 usd
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
547000 usd
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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-30289000 usd
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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-3796000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
40144000 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
43940000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
9855000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
40144000 usd
CY2022 STXS Purchases Of Property And Equipment Included In Accounts Payable And Accrued Liabilities
PurchasesOfPropertyAndEquipmentIncludedInAccountsPayableAndAccruedLiabilities
313000 usd
CY2021 STXS Purchases Of Property And Equipment Included In Accounts Payable And Accrued Liabilities
PurchasesOfPropertyAndEquipmentIncludedInAccountsPayableAndAccruedLiabilities
1146000 usd
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
8586000 usd
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
38739000 usd
CY2022Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
525000 usd
CY2021Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
453000 usd
CY2022Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
744000 usd
CY2021Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
952000 usd
CY2022Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
9855000 usd
CY2021Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
40144000 usd
CY2022 us-gaap Nature Of Operations
NatureOfOperations
<p id="xdx_80D_eus-gaap--NatureOfOperations_zqjxEhzHxExc" style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 11.5pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>1. <span id="xdx_82F_zLP59M4uRus9">Description of Business</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stereotaxis designs, manufactures and markets robotic systems, instruments and information systems for the interventional laboratory. Our proprietary robotic technology, Robotic Magnetic Navigation, fundamentally transforms endovascular interventions using precise computer-controlled magnetic fields to directly control the tip of flexible interventional catheters or devices. Direct control of the tip of an interventional device, in contrast to all manual hand-held devices that are controlled from their handle, can improve the precision, stability, reach and safety of these devices during procedures.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our primary clinical focus has been electrophysiology, specifically cardiac ablation procedures for the treatment of arrhythmias. Cardiac ablation has become a well-accepted therapy for arrhythmias and a multi-billion-dollar medical device market with expectations for substantial long-term growth. We have shared our aspiration and a product strategy to expand the clinical focus of our technology to several additional endovascular indications including coronary, neuro, and peripheral interventions.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">There is substantial real-world evidence and clinical literature for Robotic Magnetic Navigation in electrophysiology. Hundreds of electrophysiologists at over one hundred hospitals globally have treated over 100,000 arrhythmia patients with our robotic technology. Clinical use of our technology has been documented in over 400 clinical publications. Robotic Magnetic Navigation is designed to enable physicians to complete more complex interventional procedures with greater success and safety by providing image-guided delivery of catheters through the blood vessels and chambers of the heart to treatment sites. This is achieved using externally applied computer-controlled magnetic fields that govern the motion of the working tip of the catheter, resulting in improved navigation. The more flexible atraumatic design of catheters driven using magnetic fields may reduce the risk of patient harm and other adverse events. Performing the procedure from a control cockpit enables physicians to complete procedures in a safe location protected from x-ray exposure, with greater ergonomics, and improved efficiency. We believe these benefits can be applicable in other endovascular indications where navigation through complex vasculature is often challenging or unsuccessful and generates significant x-ray exposure.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our primary products include the <i>Genesis RMN </i>System, the <i>Odyssey </i>Solution, and other related devices. We also offer to our customers the Stereotaxis Imaging Model S x-ray System and other accessory devices.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The <i>Genesis RMN System</i> is designed to enable physicians to complete more complex interventional procedures by providing image-guided delivery of catheters through the blood vessels and chambers of the heart to treatment sites. This is achieved using externally applied magnetic fields that govern the motion of the working tip of the catheter, resulting in improved navigation, efficient procedures, and reduced x-ray exposure.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The <i>Odyssey Solution</i> consolidates lab information onto one large integrated display, enabling physicians to view and control all the key information in the operating room. This is designed to improve lab layout and procedure efficiency. The system also features a remote viewing and recording capability called <i>Odyssey Cinema,</i> which is an innovative solution that delivers synchronized content for optimized workflow, advanced care, and improved productivity. This tool includes an archiving capability that allows clinicians to store and replay entire procedures or segments of procedures. This information can be accessed from locations throughout the hospital local area network and over the global Odyssey Network providing physicians with a tool for clinical collaboration, remote consultation, and training.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Stereotaxis Imaging Model S provides an integrated complete solution for a robotic interventional operating room. It is a single-plane, full-power x-ray system and includes the c-arm, powered table, motorized boom, and large high-definition monitors. Stereotaxis Imaging Model S incorporates modern fluoroscopy technology to support high quality imaging while minimizing radiation exposure for patients and physicians. The combination of RMN Systems with Stereotaxis Imaging Model S is designed to reduce the cost of acquisition, the ongoing cost of ownership, and the complexity of installation of a robotic electrophysiology practice.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We promote our full suite of products in a typical hospital implementation, subject to regulatory approvals or clearances. This implementation requires a hospital to agree to an upfront capital payment and recurring payments. The upfront capital payment typically includes equipment and installation charges. The recurring payments typically include disposable costs for each procedure, equipment service costs beyond warranty period, and ongoing software updates. In hospitals where our full suite of products has not been implemented, equipment upgrade or expansion can be implemented upon purchasing of the necessary upgrade or expansion.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We have received regulatory clearances and registration necessary for us to market the <i>Genesis RMN</i> System in the U.S. and Europe, and we are in the process of obtaining necessary registrations for extending our markets in other countries. Our prior generation robotic magnetic navigation system, the <i>Niobe</i> System, and the <i>Odyssey</i> Solution, <i>Cardiodrive</i>, and various disposable interventional devices have received regulatory clearance in the U.S., Europe, Canada, China, Japan and various other countries. We have received the regulatory clearance, licensing and/or CE Mark approvals that allow us to market the <i>Vdrive</i> and <i>Vdrive Duo</i> Systems with the <i>V-CAS</i>, <i>V-Loop </i>and <i>V-Sono</i> devices in the U.S., Canada and Europe. The Stereotaxis Imaging Model S x-ray System is CE marked and cleared by the FDA.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We have strategic relationships with technology leaders and innovators in the global interventional market. Through these strategic relationships we provide compatibility between our robotic magnetic navigation system and digital imaging and 3D catheter location sensing technology, as well as disposable interventional devices. The maintenance of these strategic relationships, or the establishment of equivalent alternatives, is critical to our commercialization efforts. There are no guarantees that any existing strategic relationships will continue, and efforts are ongoing to ensure the availability of integrated systems and devices and/or equivalent alternatives. We cannot provide assurance as to the timeline of the ongoing availability of such compatible systems or our ability to obtain equivalent alternatives on competitive terms or at all.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2021Q4 us-gaap Other Assets
OtherAssets
117000 usd
CY2022Q4 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
1533000 usd
CY2022 us-gaap Use Of Estimates
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<p id="xdx_845_eus-gaap--UseOfEstimates_zfd77t0ANEWf" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_868_zHipRay1ZiZe">Use of Estimates</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 12.2pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of income and loss during the reporting period. Actual results could differ from those estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2021Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
952000 usd
CY2021Q4 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
2634000 usd
CY2022Q4 us-gaap Prepaid Expense And Other Assets Noncurrent
PrepaidExpenseAndOtherAssetsNoncurrent
208000 usd
CY2021Q4 us-gaap Prepaid Expense And Other Assets Noncurrent
PrepaidExpenseAndOtherAssetsNoncurrent
278000 usd
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
28147000 usd
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
35021000 usd
CY2022Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
14800000 usd
CY2022Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
539000 usd
CY2021Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
178000 usd
CY2022Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
8996000 usd
CY2021Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
8515000 usd
CY2022Q4 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
1654000 usd
CY2021Q4 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
2238000 usd
CY2022Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
7342000 usd
CY2021Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
6277000 usd
CY2022 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
5900000 usd
CY2021 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
5100000 usd
CY2022Q4 us-gaap Capitalized Contract Cost Net
CapitalizedContractCostNet
200000 usd
CY2021Q4 us-gaap Capitalized Contract Cost Net
CapitalizedContractCostNet
200000 usd
CY2022Q4 STXS Prepaid Commissions Current And Noncurrent
PrepaidCommissionsCurrentAndNoncurrent
187000 usd
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.80 pure
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y3M
CY2021Q4 STXS Prepaid Commissions Current And Noncurrent
PrepaidCommissionsCurrentAndNoncurrent
229000 usd
CY2022Q4 us-gaap Deposits Assets
DepositsAssets
669000 usd
CY2021Q4 us-gaap Deposits Assets
DepositsAssets
1276000 usd
CY2022Q4 us-gaap Other Assets
OtherAssets
72000 usd
CY2022 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_84A_eus-gaap--ConcentrationRiskCreditRisk_zzJvqMD4XW5f" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_86C_zWxim7QmbdAc">Concentrations of Risk</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 12.25pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The majority of the Company’s cash, cash equivalents and investments are deposited with one major financial institution in the U.S. Deposits in this institution exceed the amount of government provided insurance on such deposits.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">No single customer accounted for more than 10% of total revenue for the years ended December 31, 2022 and 2021. Revenue from customers in China accounted for $<span id="xdx_901_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn5n6_c20210101__20211231__srt--MajorCustomersAxis__custom--ChinaCustomerMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--RevenueFromContractWithCustomerMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zM3AI5uvenmd" title="Total revenue">3.7</span> million, or <span id="xdx_900_eus-gaap--ConcentrationRiskPercentage1_pid_dp_c20210101__20211231__srt--MajorCustomersAxis__custom--ChinaCustomerMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--RevenueFromContractWithCustomerMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zreH0A3ujX14" title="Concentration risk percentage">10</span>%, of total revenue for the year ended December 31, 2021. No other single country, other than the U.S., accounted for more than 10% of total revenue for the years ended December 31, 2022 and 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022Q4 us-gaap Cash
Cash
3258000 usd
CY2022Q4 us-gaap Cash
Cash
3258000 usd
CY2022Q4 us-gaap Cash
Cash
3258000 usd
CY2022Q4 us-gaap Held To Maturity Securities
HeldToMaturitySecurities
29699000 usd
CY2022Q4 us-gaap Held To Maturity Securities Accumulated Unrecognized Holding Gain
HeldToMaturitySecuritiesAccumulatedUnrecognizedHoldingGain
2000 usd
CY2022Q4 us-gaap Held To Maturity Securities Accumulated Unrecognized Holding Loss
HeldToMaturitySecuritiesAccumulatedUnrecognizedHoldingLoss
8000 usd
CY2022Q4 us-gaap Held To Maturity Securities Fair Value
HeldToMaturitySecuritiesFairValue
29693000 usd
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
8586000 usd
CY2022Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
525000 usd
CY2022Q4 us-gaap Short Term Investments
ShortTermInvestments
19844000 usd
CY2022Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
744000 usd
CY2021Q4 us-gaap Cash
Cash
38739000 usd
CY2021Q4 us-gaap Cash
Cash
38739000 usd
CY2021Q4 us-gaap Cash
Cash
38739000 usd
CY2021Q4 us-gaap Held To Maturity Securities
HeldToMaturitySecurities
40144000 usd
CY2021Q4 us-gaap Held To Maturity Securities Fair Value
HeldToMaturitySecuritiesFairValue
40144000 usd
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
38739000 usd
CY2021Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
453000 usd
CY2022Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
6556000 usd
CY2021Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
3642000 usd
CY2022Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
530000 usd
CY2021Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
133000 usd
CY2022Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
2697000 usd
CY2021Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
2823000 usd
CY2022Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
1907000 usd
CY2021Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
2165000 usd
CY2022Q4 us-gaap Inventory Net
InventoryNet
7876000 usd
CY2021Q4 us-gaap Inventory Net
InventoryNet
4433000 usd
CY2022Q4 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
605000 usd
CY2021Q4 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
1012000 usd
CY2022Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1325000 usd
CY2021Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
2356000 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
7289000 usd
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
5843000 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3458000 usd
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
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CY2022Q4 us-gaap Property Plant And Equipment Net
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CY2022 us-gaap Product Warranty Accrual Payments
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35021000 usd

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