2024 Q4 Form 10-Q Financial Statement

#000149315224045994 Filed on November 14, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3 2023 Q4
Revenue $9.196M $4.565M
YoY Change 17.91% -37.47%
Cost Of Revenue $5.097M $1.827M
YoY Change 36.28% -38.94%
Gross Profit $4.099M $2.738M
YoY Change 0.99% -36.46%
Gross Profit Margin 44.57% 59.98%
Selling, General & Admin $7.990M $5.830M
YoY Change 13.66% -8.41%
% of Gross Profit 194.93% 212.93%
Research & Development $2.454M $2.212M
YoY Change -8.02% -7.83%
% of Gross Profit 59.87% 80.79%
Depreciation & Amortization $330.0K $135.0K
YoY Change 120.0% 3.05%
% of Gross Profit 8.05% 4.93%
Operating Expenses $10.44M $8.042M
YoY Change 7.69% -8.25%
Operating Profit -$6.345M -$5.304M
YoY Change 12.52% 19.03%
Interest Expense $150.0K $261.0K
YoY Change -44.44% -13.58%
% of Operating Profit
Other Income/Expense, Net $5.000K $3.000K
YoY Change
Pretax Income -$6.190M -$5.040M
YoY Change 15.27% 21.33%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$6.190M -$5.379M
YoY Change 15.29% 19.75%
Net Earnings / Revenue -67.31% -117.83%
Basic Earnings Per Share -$0.08
Diluted Earnings Per Share -$0.08 -$0.07
COMMON SHARES
Basic Shares Outstanding 84.73M shares 84.66M shares 80.88M shares
Diluted Shares Outstanding 85.82M shares

Balance Sheet

Concept 2024 Q4 2024 Q3 2023 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $10.66M $19.82M
YoY Change -51.75% -30.29%
Cash & Equivalents $10.66M $19.82M
Short-Term Investments $0.00
Other Short-Term Assets $1.219M $1.201M
YoY Change -11.67% -35.08%
Inventory $9.009M $8.426M
Prepaid Expenses
Receivables $7.921M $3.822M
Other Receivables $0.00 $0.00
Total Short-Term Assets $28.81M $33.27M
YoY Change -18.87% -23.07%
LONG-TERM ASSETS
Property, Plant & Equipment $3.733M $8.286M
YoY Change 8.42% 116.29%
Goodwill $4.494M
YoY Change
Intangibles $8.162M $0.00
YoY Change
Long-Term Investments
YoY Change
Other Assets $116.0K $356.0K
YoY Change -76.33% -62.61%
Total Long-Term Assets $22.12M $8.642M
YoY Change 145.43% -15.0%
TOTAL ASSETS
Total Short-Term Assets $28.81M $33.27M
Total Long-Term Assets $22.12M $8.642M
Total Assets $50.94M $41.91M
YoY Change 14.39% -21.54%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.403M $3.190M
YoY Change 97.44% -2.45%
Accrued Expenses $3.376M $3.400M
YoY Change 6.84% 2.84%
Deferred Revenue $5.092M $6.657M
YoY Change -18.08% -9.33%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $20.72M $13.25M
YoY Change 59.0% -7.31%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $55.00K $6.742M
YoY Change 27.91% 13119.61%
Total Long-Term Liabilities $55.00K $6.742M
YoY Change 27.91% 13119.61%
TOTAL LIABILITIES
Total Short-Term Liabilities $20.72M $13.25M
Total Long-Term Liabilities $55.00K $6.742M
Total Liabilities $34.71M $19.99M
YoY Change 71.59% -6.96%
SHAREHOLDERS EQUITY
Retained Earnings -$554.2M -$537.7M
YoY Change 4.05% 4.01%
Common Stock $85.00K $81.00K
YoY Change 4.94% 8.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $10.82M $21.92M
YoY Change
Total Liabilities & Shareholders Equity $50.94M $41.91M
YoY Change 14.39% -21.54%

Cashflow Statement

Concept 2024 Q4 2024 Q3 2023 Q4
OPERATING ACTIVITIES
Net Income -$6.190M -$5.379M
YoY Change 15.29% 19.75%
Depreciation, Depletion And Amortization $330.0K $135.0K
YoY Change 120.0% 3.05%
Cash From Operating Activities -$4.329M -$2.439M
YoY Change 346.29% -4.43%
INVESTING ACTIVITIES
Capital Expenditures $10.00K -$4.000K
YoY Change 0.0% -101.08%
Acquisitions
YoY Change
Other Investing Activities $108.0K $1.000K
YoY Change -100.01%
Cash From Investing Activities $98.00K -$5.000K
YoY Change -1080.0% -99.98%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 80.00K 21.00K
YoY Change 166.67% -65.57%
NET CHANGE
Cash From Operating Activities -4.329M -2.439M
Cash From Investing Activities 98.00K -5.000K
Cash From Financing Activities 80.00K 21.00K
Net Change In Cash -4.151M -2.423M
YoY Change 336.95% -89.27%
FREE CASH FLOW
Cash From Operating Activities -$4.329M -$2.439M
Capital Expenditures $10.00K -$4.000K
Free Cash Flow -$4.339M -$2.435M
YoY Change 342.76% -16.64%

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CY2024Q2 us-gaap Stockholders Equity
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CY2024Q3 us-gaap Stockholders Equity
StockholdersEquity
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CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
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us-gaap Net Income Loss
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CY2023Q3 us-gaap Stockholders Equity
StockholdersEquity
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CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
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CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
16343000 usd
us-gaap Stock Issued During Period Value Stock Options Exercised
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us-gaap Stock Issued During Period Value Acquisitions
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us-gaap Net Income Loss
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CY2024Q3 us-gaap Stockholders Equity
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CY2024Q3 us-gaap Stockholders Equity
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10815000 usd
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NetIncomeLoss
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us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Depreciation
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us-gaap Depreciation
Depreciation
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us-gaap Adjustment For Amortization
AdjustmentForAmortization
178000 usd
us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
672000 usd
STXS Operating Lease Expense Income
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STXS Operating Lease Expense Income
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us-gaap Share Based Compensation
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us-gaap Share Based Compensation
ShareBasedCompensation
7987000 usd
us-gaap Accretion Amortization Of Discounts And Premiums Investments
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287000 usd
us-gaap Increase Decrease In Accounts Receivable
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3401000 usd
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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177000 usd
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-21000 usd
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
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us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
1448000 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
270000 usd
us-gaap Increase Decrease In Accrued Liabilities
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364000 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
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us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
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us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
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us-gaap Increase Decrease In Other Operating Liabilities
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12000 usd
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Payments To Acquire Productive Assets
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us-gaap Payments To Acquire Productive Assets
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us-gaap Proceeds From Maturities Prepayments And Calls Of Shortterm Investments
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
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138000 usd
us-gaap Net Cash Provided By Used In Financing Activities
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55000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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13120000 usd
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20562000 usd
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11013000 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
22975000 usd
CY2024Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
10663000 usd
CY2023Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
22100000 usd
CY2024Q3 us-gaap Restricted Cash Current
RestrictedCashCurrent
350000 usd
CY2023Q3 us-gaap Restricted Cash Current
RestrictedCashCurrent
525000 usd
CY2023Q3 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
350000 usd
CY2024Q3 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
11013000 usd
CY2023Q3 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
22975000 usd
us-gaap Nature Of Operations
NatureOfOperations
<p id="xdx_802_eus-gaap--NatureOfOperations_zo7G8T9CoKec" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; 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_823_zYvVYuHfAT38">Description of Business</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; 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 0pt 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 0pt 0pt 0; 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. Our product strategy is 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 0pt 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 0pt 0pt 0; 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 150,000 arrhythmia patients with our robotic technology. Clinical use of our technology has been documented in over 500 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, and we are investing in research and development in these areas.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; 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. Through our strategic relationships with fluoroscopy system manufacturers, providers of catheters and electrophysiology mapping systems, and other parties, we offer our customers x-ray systems and other accessory devices.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; 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 0pt 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 0pt 0pt 0; 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 0pt 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 0pt 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 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We have arrangements with fluoroscopy system manufacturers to provide such systems in a bundled purchase offer for hospitals establishing robotic interventional operating rooms. These are single-plane, full-power x-ray systems and include the c-arm and powered table. The combination of RMN Systems with our partnered x-ray systems reduces 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 0pt 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 0pt 0pt 0; 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 the 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 0pt 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 0pt 0pt 0; 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 approvals 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. The <i>Niobe</i> System, our prior generation robotic magnetic navigation system, the <i>Odyssey</i> Solution, <i>Cardiodrive</i>, e-Contact, and various disposable interventional devices have received regulatory clearances and approvals in the U.S., Europe, Canada, China, Japan and various other countries. We have regulatory clearances and approvals that allow us to market the Vdrive and Vdrive Duo Systems with the V-CAS device in the U.S., Canada and Europe. We are pursuing regulatory approvals for the Stereotaxis MAGiC catheter, a robotically-navigated magnetic ablation catheter designed to perform minimally invasive cardiac ablation procedures, in various global geographies. Approval processes can be lengthy and uncertain, submissions may require revised or additional non-clinical and clinical data, and regulatory applications could be denied.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; 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, x-ray systems, 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 compatible 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 0pt 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 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On July 31, 2024, the Company completed its acquisition of all the shares of capital stock of Access Point Technologies EP, Inc., a Minnesota corporation (“APT”), from APT Holding Company, Inc., a Minnesota corporation. APT, based in Rogers, Minnesota, designs, manufactures, and commercializes a portfolio of differentiated high-quality diagnostic catheters used during cardiac ablation procedures that are commercially available across key global geographies.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The integration with APT provides in-house catheter development, manufacturing expertise and specialized knowledge that will further Stereotaxis’ innovation efforts in developing a broad family of interventional devices navigated by our robots within electrophysiology and across a range of endovascular procedures.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p>
us-gaap Concentration Risk Credit Risk
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<p id="xdx_845_eus-gaap--ConcentrationRiskCreditRisk_zHB7hsCELIc4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_866_zuldm5uvvhog">Concentration of Credit Risk</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial instruments that potentially subject the Company to concentration of credit risk consist of cash, cash equivalents and marketable securities. 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. 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 closely monitors 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 6% 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. During the periods presented, the Company has not experienced any losses on its deposits of cash, cash equivalents or marketable securities.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2024Q3 us-gaap Restricted Cash
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400000 usd
CY2023Q4 us-gaap Restricted Cash
RestrictedCash
700000 usd
STXS Expected Credit Loss On Investments And Accrued Interest Description
ExpectedCreditLossOnInvestmentsAndAccruedInterestDescription
The Company did not have any material expected credit losses on investments or material expected credit losses on accrued interest related to investments during the nine months ended September 30, 2024, or year ended December 31, 2023.
CY2023 STXS Expected Credit Loss On Investments And Accrued Interest Description
ExpectedCreditLossOnInvestmentsAndAccruedInterestDescription
The Company did not have any material expected credit losses on investments or material expected credit losses on accrued interest related to investments during the nine months ended September 30, 2024, or year ended December 31, 2023.
CY2024Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
9196000 usd
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
7799000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
20578000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
22206000 usd
CY2024Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
15500000 usd
CY2024Q3 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
940000 usd
CY2023Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
72000 usd
CY2024Q3 us-gaap Contract With Customer Liability
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CY2023Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
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CY2024Q3 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
2102000 usd
CY2023Q4 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
1637000 usd
CY2024Q3 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
5092000 usd
CY2023Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
6657000 usd
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
5100000 usd
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
5700000 usd
CY2024Q3 us-gaap Capitalized Contract Cost Net
CapitalizedContractCostNet
100000 usd
CY2023Q4 us-gaap Capitalized Contract Cost Net
CapitalizedContractCostNet
100000 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.76 pure
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y3M
CY2024Q3 us-gaap Net Income Loss
NetIncomeLoss
-6190000 usd
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-5369000 usd
us-gaap Net Income Loss
NetIncomeLoss
-16530000 usd
us-gaap Net Income Loss
NetIncomeLoss
-15673000 usd
CY2024Q3 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
328000 usd
CY2023Q3 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
338000 usd
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
984000 usd
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
1004000 usd
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CY2024Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2024Q3 STXS Business Combination Consideration Transferred Including Upfront Payment
BusinessCombinationConsiderationTransferredIncludingUpfrontPayment
13877 usd
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CY2024Q3 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
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CY2024Q3 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
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us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
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BusinessAcquisitionsProFormaRevenue
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us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
27404 usd
CY2024Q3 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
235 usd
us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
368 usd
CY2024Q3 STXS Debt Securities Held To Maturity Inclusive Of Cash And Cash Equivalents At Carrying Value Amortized Costs
DebtSecuritiesHeldToMaturityInclusiveOfCashAndCashEquivalentsAtCarryingValueAmortizedCosts
11013000 usd
CY2024Q3 STXS Debt Securities Held To Maturity Inclusive Of Cash And Cash Equivalents Fair Value Disclosure
DebtSecuritiesHeldToMaturityInclusiveOfCashAndCashEquivalentsFairValueDisclosure
11013000 usd
CY2024Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
10663000 usd
CY2024Q3 us-gaap Restricted Cash Current
RestrictedCashCurrent
350000 usd
CY2023Q4 STXS Debt Securities Held To Maturity Inclusive Of Cash And Cash Equivalents At Carrying Value Amortized Costs
DebtSecuritiesHeldToMaturityInclusiveOfCashAndCashEquivalentsAtCarryingValueAmortizedCosts
20562000 usd
CY2023Q4 STXS Debt Securities Held To Maturity Inclusive Of Cash And Cash Equivalents Fair Value Disclosure
DebtSecuritiesHeldToMaturityInclusiveOfCashAndCashEquivalentsFairValueDisclosure
20562000 usd
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
19818000 usd
CY2023Q4 us-gaap Restricted Cash Current
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525000 usd
CY2023Q4 us-gaap Restricted Cash Noncurrent
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219000 usd
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
600000 usd
CY2023 us-gaap Interest Income Expense Net
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CY2024Q3 us-gaap Inventory Raw Materials
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5974000 usd
CY2023Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
5918000 usd
CY2024Q3 us-gaap Inventory Work In Process
InventoryWorkInProcess
893000 usd
CY2023Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
1034000 usd
CY2024Q3 us-gaap Inventory Finished Goods
InventoryFinishedGoods
4950000 usd
CY2023Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
3413000 usd
CY2024Q3 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
2808000 usd
CY2023Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
1939000 usd
CY2024Q3 us-gaap Inventory Net
InventoryNet
9009000 usd
CY2023Q4 us-gaap Inventory Net
InventoryNet
8426000 usd
CY2024Q3 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
2800000 usd
CY2024Q3 us-gaap Prepaid Expense Current And Noncurrent
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332000 usd
CY2023Q4 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
181000 usd
CY2024Q3 STXS Prepaid Commissions Current And Noncurrent
PrepaidCommissionsCurrentAndNoncurrent
83000 usd
CY2023Q4 STXS Prepaid Commissions Current And Noncurrent
PrepaidCommissionsCurrentAndNoncurrent
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CY2024Q3 us-gaap Deposits Assets
DepositsAssets
495000 usd
CY2023Q4 us-gaap Deposits Assets
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424000 usd
CY2024Q3 us-gaap Other Assets
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CY2023Q4 us-gaap Other Assets
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98000 usd
CY2024Q3 us-gaap Prepaid Expense And Other Assets
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985000 usd
CY2023Q4 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
813000 usd
CY2024Q3 us-gaap Prepaid Expense And Other Assets Noncurrent
PrepaidExpenseAndOtherAssetsNoncurrent
116000 usd
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676000 usd
CY2024Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
8025000 usd
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
7180000 usd
CY2024Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
4292000 usd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3876000 usd
CY2024Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3733000 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
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3304000 usd
CY2024Q3 us-gaap Finite Lived Intangible Assets Gross
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8340000 usd
CY2024Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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FiniteLivedIntangibleAssetsNet
8162000 usd
CY2024Q3 STXS Operating Lease Right Of Use Asset And Liability
OperatingLeaseRightOfUseAssetAndLiability
1000000.0 usd
CY2024Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
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CY2024Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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CY2024Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
256000 usd
CY2023Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
227000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
710000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
681000 usd
CY2024Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
1000 usd
CY2023Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
4000 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
9000 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
13000 usd
CY2024Q3 us-gaap Lease Cost
LeaseCost
257000 usd
CY2023Q3 us-gaap Lease Cost
LeaseCost
231000 usd
us-gaap Lease Cost
LeaseCost
719000 usd
us-gaap Lease Cost
LeaseCost
694000 usd
CY2024Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
286000 usd
CY2023Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
255000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
797000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
741000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
265000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1079000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1097000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1122000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1147000 usd
CY2024Q3 STXS Lessee Operating Lease Liability Payments Due Year Five And Thereafter
LesseeOperatingLeaseLiabilityPaymentsDueYearFiveAndThereafter
3705000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
8415000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
2280000 usd
CY2024Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
6135000 usd
CY2024Q3 us-gaap Employee Related Liabilities Current And Noncurrent
EmployeeRelatedLiabilitiesCurrentAndNoncurrent
1636000 usd
CY2023Q4 us-gaap Employee Related Liabilities Current And Noncurrent
EmployeeRelatedLiabilitiesCurrentAndNoncurrent
1222000 usd
CY2023Q4 STXS Accrued Licenses And Maintenance Fees Current And Noncurrent
AccruedLicensesAndMaintenanceFeesCurrentAndNoncurrent
484000 usd
CY2024Q3 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
65000 usd
CY2023Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
107000 usd
CY2024Q3 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
462000 usd
CY2023Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
138000 usd
CY2024Q3 STXS Accrued Investigational Sites
AccruedInvestigationalSites
138000 usd
CY2024Q3 us-gaap Contractual Obligation
ContractualObligation
1045000 usd
CY2023Q4 us-gaap Contractual Obligation
ContractualObligation
1045000 usd
CY2024Q3 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
85000 usd
CY2023Q4 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
19000 usd
CY2024Q3 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
3431000 usd
CY2023Q4 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
3015000 usd
CY2024Q3 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
55000 usd
CY2023Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
43000 usd
CY2024Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
3376000 usd
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
2972000 usd
us-gaap Common Stock Voting Rights
CommonStockVotingRights
The holders of common stock are entitled to one vote for each share held
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
0 usd
CY2024Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
3300000 usd
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P4Y
CY2023Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
107000 usd
CY2022Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
163000 usd
us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
-2000 usd
CY2023 us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
547000 usd
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
40000 usd
CY2023 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
603000 usd
CY2024Q3 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
65000 usd
CY2023Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
107000 usd
CY2024Q1 us-gaap Loss Contingency Damages Sought Value
LossContingencyDamagesSoughtValue
600000 usd
CY2024Q3 ecd Trd Arr Adoption Date
TrdArrAdoptionDate
September 1, 2024
CY2024Q3 ecd Trd Arr Ind Name
TrdArrIndName
Ms. Kimberly Peery
CY2024Q3 ecd Trd Arr Ind Title
TrdArrIndTitle
Chief Financial Officer
CY2024Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
true
CY2024Q3 ecd Trd Arr Securities Agg Avail Amt
TrdArrSecuritiesAggAvailAmt
165750 shares

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