2023 Q2 Form 10-Q Financial Statement

#000149315223016720 Filed on May 12, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1
Revenue $7.859M $6.548M $7.037M
YoY Change 27.75% -6.95% -18.39%
Cost Of Revenue $3.672M $2.672M $2.113M
YoY Change 147.77% 26.46% -18.94%
Gross Profit $4.187M $3.876M $4.924M
YoY Change -10.34% -21.28% -18.15%
Gross Profit Margin 53.28% 59.19% 69.97%
Selling, General & Admin $6.817M $6.749M $6.566M
YoY Change -2.0% 2.79% 26.83%
% of Gross Profit 162.81% 174.12% 133.35%
Research & Development $2.647M $2.746M $2.447M
YoY Change -8.5% 12.22% 3.38%
% of Gross Profit 63.22% 70.85% 49.7%
Depreciation & Amortization $150.0K $160.0K $100.0K
YoY Change 59.57% 60.0% 272.86%
% of Gross Profit 3.58% 4.13% 2.03%
Operating Expenses $9.464M $9.495M $9.013M
YoY Change -3.91% 5.35% 19.47%
Operating Profit -$5.277M -$5.619M -$4.089M
YoY Change 1.89% 37.42% 167.58%
Interest Expense $293.0K $272.0K $3.000K
YoY Change 551.11% 8966.67% -170.09%
% of Operating Profit
Other Income/Expense, Net $27.00K
YoY Change
Pretax Income -$4.957M -$5.347M -$4.086M
YoY Change -3.45% 30.86% 166.64%
Income Tax
% Of Pretax Income
Net Earnings -$4.957M -$5.347M -$4.086M
YoY Change -3.45% 30.86% 166.64%
Net Earnings / Revenue -63.07% -81.66% -58.06%
Basic Earnings Per Share -$0.07 -$0.07 -$0.06
Diluted Earnings Per Share -$0.07 -$0.07 -$53.85K
COMMON SHARES
Basic Shares Outstanding 80.68M shares 75.05M shares 75.88M shares
Diluted Shares Outstanding 81.05M shares 76.50M shares 75.88M shares

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $22.88M $25.66M $35.10M
YoY Change -31.71% -26.87% -17.33%
Cash & Equivalents $22.88M $5.623M $35.10M
Short-Term Investments $0.00 $20.04M
Other Short-Term Assets $1.677M $1.857M $2.496M
YoY Change 4.23% -25.6% -23.47%
Inventory $7.703M $8.510M $4.850M
Prepaid Expenses
Receivables $6.645M $4.874M $4.693M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $38.90M $40.91M $47.13M
YoY Change -16.59% -13.22% -16.64%
LONG-TERM ASSETS
Property, Plant & Equipment $3.590M $3.722M $8.904M
YoY Change 10.12% -58.2% 369.08%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $635.0K $796.0K $1.391M
YoY Change -48.12% -42.77% 267.72%
Total Long-Term Assets $9.413M $9.806M $10.30M
YoY Change -6.22% -4.75% 352.24%
TOTAL ASSETS
Total Short-Term Assets $38.90M $40.91M $47.13M
Total Long-Term Assets $9.413M $9.806M $10.30M
Total Assets $48.32M $50.71M $57.43M
YoY Change -14.76% -11.7% -2.36%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.840M $3.535M $2.892M
YoY Change -33.08% 22.23% 27.38%
Accrued Expenses $2.920M $2.804M $2.063M
YoY Change 37.35% 35.92% -52.17%
Deferred Revenue $8.223M $7.545M
YoY Change 18.16%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $14.38M $14.27M $11.49M
YoY Change 5.31% 24.18% -31.14%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities $43.00K $51.00K $8.032M
YoY Change -78.71% -99.37% 422.11%
Total Long-Term Liabilities $43.00K $51.00K $8.032M
YoY Change -78.71% -99.37% 350.73%
TOTAL LIABILITIES
Total Short-Term Liabilities $14.38M $14.27M $11.49M
Total Long-Term Liabilities $43.00K $51.00K $8.032M
Total Liabilities $21.35M $21.42M $19.52M
YoY Change 0.92% 9.71% 5.71%
SHAREHOLDERS EQUITY
Retained Earnings -$527.3M -$522.3M
YoY Change 3.81%
Common Stock $81.00K $75.00K
YoY Change 8.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $21.39M $23.71M $32.32M
YoY Change
Total Liabilities & Shareholders Equity $48.32M $50.71M $57.43M
YoY Change -14.76% -11.7% -2.36%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income -$4.957M -$5.347M -$4.086M
YoY Change -3.45% 30.86% 166.64%
Depreciation, Depletion And Amortization $150.0K $160.0K $100.0K
YoY Change 59.57% 60.0% 272.86%
Cash From Operating Activities -$2.931M -$2.802M -$2.193M
YoY Change 157.78% 27.77% 618.62%
INVESTING ACTIVITIES
Capital Expenditures $7.000K $349.0K -$1.154M
YoY Change -101.08% -130.24% 3275.26%
Acquisitions
YoY Change
Other Investing Activities $20.13M
YoY Change
Cash From Investing Activities $20.12M -$349.0K -$1.154M
YoY Change -3196.0% -69.76% 3275.26%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -26.00K $56.00K 54.00K
YoY Change -145.61% 3.7% -80.84%
NET CHANGE
Cash From Operating Activities -2.931M -$2.802M -2.193M
Cash From Investing Activities 20.12M -$349.0K -1.154M
Cash From Financing Activities -26.00K $56.00K 54.00K
Net Change In Cash 17.17M -$3.095M -3.293M
YoY Change -1092.31% -6.01% 5629.95%
FREE CASH FLOW
Cash From Operating Activities -$2.931M -$2.802M -$2.193M
Capital Expenditures $7.000K $349.0K -$1.154M
Free Cash Flow -$2.938M -$3.151M -$1.039M
YoY Change 503.29% 203.27% 283.42%

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NetCashProvidedByUsedInOperatingActivities
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CY2023Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
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CY2022Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
1154000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1154000 usd
CY2023Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
56000 usd
CY2022Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
54000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
56000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
54000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-3095000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-3293000 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
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
6760000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
36851000 usd
CY2023Q1 STXS Purchases Of Property And Equipment Included In Accounts Payable And Accrued Liabilities
PurchasesOfPropertyAndEquipmentIncludedInAccountsPayableAndAccruedLiabilities
15000 usd
CY2022Q1 STXS Purchases Of Property And Equipment Included In Accounts Payable And Accrued Liabilities
PurchasesOfPropertyAndEquipmentIncludedInAccountsPayableAndAccruedLiabilities
699000 usd
CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
5623000 usd
CY2022Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
35095000 usd
CY2023Q1 us-gaap Restricted Cash Current
RestrictedCashCurrent
525000 usd
CY2022Q1 us-gaap Restricted Cash Current
RestrictedCashCurrent
618000 usd
CY2023Q1 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
612000 usd
CY2022Q1 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
1138000 usd
CY2023Q1 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
6760000 usd
CY2022Q1 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
36851000 usd
CY2023Q1 us-gaap Nature Of Operations
NatureOfOperations
<p id="xdx_808_eus-gaap--NatureOfOperations_z4tXpi0STjZd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>1. <span id="xdx_820_z7Ht5EA9PZh2">Description of Business</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.45in; 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: 0pt; text-align: justify; text-indent: 0.25in"><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: 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><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: 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><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: 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><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 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: 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><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: 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><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: 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><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: 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><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: 0pt 0; text-align: justify; text-indent: 0.25in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"/> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><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, 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: 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><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: 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_84A_eus-gaap--ConcentrationRiskCreditRisk_zz5LQWVjoRkf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><b><i><span id="xdx_861_zrAqsn8yCUv5">Concentration of Credit Risk</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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: 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">Financial instruments that potentially subject the Company to concentration of credit risk consist of cash, cash equivalents and marketable securities. </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our investments may include, at any time, a diversified portfolio of cash equivalents and short-term and long-term investments in a variety of high-quality securities, including money market funds, U.S. treasury and U.S. government agency securities, corporate notes and bonds, commercial paper, non-U.S. government agency securities, and municipal notes. <span style="background-color: white">The Company’s exposure to any individual corporate entity is limited by policy. Deposits may exceed federally insured limits, and the Company is exposed to credit risk on deposits in the event of default by the financial institutions to the extent account balances exceed the amount insured by the Federal Deposit Insurance Corporation (FDIC). The Company is closely monitoring ongoing events involving limited liquidity, defaults, non-performance or other adverse developments that affect financial institutions or other companies in the financial services industry or the financial services industry generally, including Silicon Valley Bank. On March 10, 2023, Silicon Valley Bank (“SVB”), where the Company maintained accounts with a cash balance of less than <span id="xdx_904_ecustom--CashBalancePercentage_iI_pid_dp_uPure_c20230310_z0Ej6OEdEDx2" title="Minimum cash balance percentage">6%</span> of the Company’s total cash, cash equivalents and marketable securities, was closed by the California Department of Financial Protection and Innovation and the FDIC was appointed as receiver. On March 12, 2023, the U.S. Department of the Treasury, Federal Reserve Board, and FDIC released a joint statement announcing that the FDIC would complete its resolution of SVB in a manner that fully protected all depositors at SVB and that depositors would have access to all of their money starting March 13, 2023. On March 26, 2023, it was announced that First-Citizens Bank &amp; Trust Company would assume all of SVB’s deposits and loans as of March 27, 2023. The Company does not believe that it has exposure to loss as a result of SVB’s receivership. During the periods presented, the Company has not experienced any losses on its deposits of cash, cash equivalents or marketable securities.</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023Q1 STXS Cash Balance Percentage
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0.06 pure
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331000 usd
CY2022Q1 us-gaap Preferred Stock Dividends Income Statement Impact
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200000 usd
CY2022Q4 us-gaap Capitalized Contract Cost Net
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CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.76 pure
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y3M
CY2023Q1 us-gaap Net Income Loss
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EarningsPerShareDiluted
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Cash
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Cash
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Cash
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CY2023Q1 us-gaap Inventory Work In Process
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CY2023Q1 us-gaap Inventory Net
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CY2022Q4 us-gaap Inventory Net
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187000 usd
CY2023Q1 us-gaap Deposits Assets
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CY2023Q1 us-gaap Property Plant And Equipment Gross
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CY2022Q4 us-gaap Property Plant And Equipment Gross
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CY2023Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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3618000 usd
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AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3458000 usd
CY2023Q1 us-gaap Property Plant And Equipment Net
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3722000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
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CY2023Q1 us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
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CY2022 us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
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CY2021Q3 us-gaap Operating Lease Right Of Use Asset
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5900000 usd
CY2023Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.09 pure
CY2023Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P8Y8M26D
CY2023Q1 us-gaap Operating Lease Cost
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227000 usd
CY2022Q1 us-gaap Operating Lease Cost
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226000 usd
CY2023Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
4000 usd
CY2022Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
10000 usd
CY2023Q1 us-gaap Lease Cost
LeaseCost
231000 usd
CY2022Q1 us-gaap Lease Cost
LeaseCost
236000 usd
CY2023Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
242000 usd
CY2022Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
434000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
659000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
898000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
919000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
935000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
956000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
4030000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
8397000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
2625000 usd
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
5772000 usd
CY2023Q1 us-gaap Employee Related Liabilities Current And Noncurrent
EmployeeRelatedLiabilitiesCurrentAndNoncurrent
899000 usd
CY2022Q4 us-gaap Employee Related Liabilities Current And Noncurrent
EmployeeRelatedLiabilitiesCurrentAndNoncurrent
1381000 usd
CY2023Q1 STXS Accrued Licenses And Maintenance Fees Current And Noncurrent
AccruedLicensesAndMaintenanceFeesCurrentAndNoncurrent
484000 usd
CY2022Q4 STXS Accrued Licenses And Maintenance Fees Current And Noncurrent
AccruedLicensesAndMaintenanceFeesCurrentAndNoncurrent
484000 usd
CY2023Q1 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
155000 usd
CY2022Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
163000 usd
CY2023Q1 us-gaap Accrued Income Taxes
AccruedIncomeTaxes
75000 usd
CY2022Q4 us-gaap Accrued Income Taxes
AccruedIncomeTaxes
47000 usd
CY2023Q1 STXS Accrued Investigational Sites
AccruedInvestigationalSites
85000 usd
CY2022Q4 STXS Accrued Investigational Sites
AccruedInvestigationalSites
101000 usd
CY2023Q1 us-gaap Contractual Obligation
ContractualObligation
1045000 usd
CY2022Q4 us-gaap Contractual Obligation
ContractualObligation
1045000 usd
CY2023Q1 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
112000 usd
CY2022Q4 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
136000 usd
CY2023Q1 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
2855000 usd
CY2022Q4 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
3357000 usd
CY2023Q1 us-gaap Other Accrued Liabilities Noncurrent
OtherAccruedLiabilitiesNoncurrent
51000 usd
CY2022Q4 us-gaap Other Accrued Liabilities Noncurrent
OtherAccruedLiabilitiesNoncurrent
51000 usd
CY2023Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
2804000 usd
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
3306000 usd
CY2023Q1 us-gaap Common Stock Voting Rights
CommonStockVotingRights
The holders of common stock are entitled to one vote for each share held
CY2023Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
0 usd
CY2023Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
5500000 usd
CY2023Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P4Y
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3208065 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
4.21
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
697000 shares
CY2023Q1 STXS Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Exercise Price Granted
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceGranted
2.57
CY2023Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
2.57
CY2023Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
29188 shares
CY2023Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
1.15
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
62671 shares
CY2023Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
3.62
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3813206 shares
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
3.95
CY2022Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
163000 usd
CY2021Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
242000 usd
CY2023Q1 us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
7000 usd
CY2022 us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
113000 usd
CY2023Q1 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
15000 usd
CY2022 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
192000 usd
CY2023Q1 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
155000 usd
CY2022Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
163000 usd

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