Stereotaxis, Inc. (NYSE: STXS), a leading player in robotic technologies for cardiac arrhythmias treatment, has successfully acquired Access Point Technologies EP, Inc., a company specializing in diagnostic catheters for cardiac ablation procedures. The acquisition, finalized on July 31, 2024, aims to enhance Stereotaxis' product portfolio and market position in the electromedical industry.
The transaction involved Stereotaxis issuing 1,486,620 shares of its common stock as upfront consideration for the purchase of Access Point Technologies EP, Inc. from APT Holding Company, Inc. With Access Point Technologies' established presence in global markets, Stereotaxis expects significant growth opportunities in the near future.
In Q1 2024, Stereotaxis reported a 5% increase in revenue, reaching $6.9 million. Despite facing operating and net losses for the same period, the company anticipates modest double-digit revenue growth for the full year, excluding revenue from the planned acquisition of Advanced Cardiac Therapeutics (APT).
InvestingPro Insights on Stereotaxis, Inc.
According to InvestingPro data, Stereotaxis has a market capitalization of $154.39 million with a high Price/Book ratio of 10.6 as of Q1 2024. The company's gross profit margin stands strong at 55.16%, reflecting its ability to control costs effectively. However, investors should exercise caution due to recent stock volatility and analysts' projections of non-profitability for the year.
While Stereotaxis does not pay dividends, its liquid assets exceed short-term obligations, providing some stability. For a detailed analysis of Stereotaxis' financials and market performance, investors can access 7 additional InvestingPro Tips through the platform.
Overall, Stereotaxis' acquisition of Access Point Technologies EP, Inc. marks a significant strategic move that could drive future growth and market expansion. Investors should closely monitor the company's performance and market dynamics to make informed investment decisions.
