Stereotaxis reported its financial results for the first quarter ended March 31, 2025, on May 12, 2025, with total revenue reaching $7.5 million, a 9% increase compared to $6.9 million in the prior year's first quarter. Recurring revenue showed significant growth, increasing by 29% year-over-year to $5.5 million, primarily driven by contributions from Map-iT catheter sales and initial MAGiC sales in Europe.
System revenue for the quarter was $2.0 million, a decrease from $2.6 million in the prior year, reflecting the lumpiness of capital sales. The company reported an operating loss of $5.9 million and a net loss of $5.8 million. Gross margin for the quarter was 54%, with recurring revenue gross margin at 68% and system gross margin at 15%.
Stereotaxis reiterated its expectation for double-digit revenue growth for the full year 2025, projecting recurring revenue to scale to $7 million in the fourth quarter. The company ended the quarter with $10.7 million in cash and no debt, and expects reduced cash use in 2025 compared to 2024, supporting its product ecosystem and commercialization efforts.
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