STXS - Earnings call transcript Q4 2019

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Operator

Good morning. Thank you for joining us for Stereotaxis Fourth Quarter and Full Year 2019 Earnings Conference Call.

Certain statements during the conference call and the question-and-answer period to follow may relate to future events, expectations and as such, constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the Company in the future to be materially different from the statements that the Company's Executives may make today. These risks are described in detail in our public filings with the Securities and Exchange Commission, including our latest periodic report on Form 10-K or 10-Q. to statements. duty no assume update these We

[Operator Instructions].

being a today's is reminder, call recorded. As

my the Stereotaxis. It your to is pleasure now turn Fischel, and host, Chairman floor CEO of David to over

David Fischel

our I'm Thank and the our Financial normal. a My you, Officer. I be by remarks will longer goals. of our good in everyone. Chief review today operator, of to overview prepared vision call bit our being and Kim joined and accomplishments broader annual for morning, want Stereotaxis, this I’ll Peery, today than use and focus our occasion a provide our XXXX. to then XXXX expectations

Stereotaxis is for robotics of pioneer the and leader endovascular surgery. global

area posed broad inserted has blossomed into treat performed of where to variety technologies of millions innovative the option use to conditions interest We have is the a then recent highly system class a based developed catheter Endovascular of catheter vessel blood least many surgical annually. the has that robotic vascular and in a surgery is to manual of as by catheters. and of emerged an invasive procedures, and a inherent through navigated suite It with wide challenges a therapy. surgeries address limitations, deliver decades risks

While mechanism to manual of testament handheld their catheters human action ingenuity, are a flaws. has fundamental

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and inherent catheter navigation viewed these by Stereotaxis’ invisible The and catheter tip. robotic to computer risks platform It using is be catheter transforms tweezers, directly fundamentally fields holding tip a magnetic address magnetic fields. limitations, can control controlled challenges. as on to allowing of for from the precise designed improves the

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Our technology spectrum safety precision and are of applicable procedures. is based broad platform a technology. a endovascular robotic catheter And of benefits across the

is endovascular efforts begun one ablation for treatment of procedure, various to applications, the cardiac have on focus we primary our While, specific arrhythmias. clinical address

navigated therapy in performed annually, over where electrical annual of procedures condition that over widely million rogue impulses stops patient's with has arrhythmia. a catheter two billion the ablation a sales. energy a to In are causing medical become the common decades, X device a ablation Cardiac accepted last over heartbeats a blade procedure, and into deliver the $X are Arrhythmias is regularly. and used cardiac heart a

improvements the scientific in procedures. in versus robotic searchable cardiac benefits benefits safety Stereotaxis’ and comprehensive also validation. robotic analysis ablation manual are clinical as publications, show as both these outcomes, precision, and as clinical extensive well The technology. real robotic pronounced of publications, magnetic Stereotaxis of patient reach includes dramatic of of safety world of there's head-to-head database a not the website studies efficacy. XXX are They all that theoretical navigation, and document stability, Nearly

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our our technology, small. Despite is of benefits the in still beachhead cardiac ablation significant

financial limited a We and an recognized within a and about in but innovation lack commercial bring this than also need XXXX Initial was joined for market the challenges. turnaround. commercialization, less human a partners Stereotaxis engagement across poor multiple market, fronts of surgery to alone advantages, significant ablation with clear and a partners I and that the allocation progress strategy three in and the of with turnaround. of X% significant it ago, missteps industry, transformative I resources, that lead is cardiac year potential aggressive Stereotaxis share more years When technological company with endovascular have significant clinical in premature Stereotaxis broadly. was

in key be accomplishments categories. several Our measured can

of First, strength. financial. in starts Stereotaxis XXXX a financial position

our have We debt on million sheet. no in $XX balance and cash

such long-term investing balance capital, comfortably consistent, existing remaining growth, reach while are shareholder drivers in the with allows profitability. us to We prudent sheet that our of meaningful

in as driven build our novel capital commercialization for of by million working inventory $X.X we Genesis Our robotic system. R&D, XXXX cash use incremental investments entirely of in and was

the high that institutional New XXXX, as were we proud us Exchange to onto focused York join able We up-list to in to firms are investors. healthcare attract Stock and quality

technological remote is class effort, clinical their having team, in focus Second, commercial ensure can multifaceted to and leadership successful a establishing has Fellowship literature, educate customers supporting patients the enhancing infrastructure physician communities. partnering toolkit and cardiac commercial developing processes and marketing the world EP the clinical that This providing our physician. are support field robotic develop telemedicine been for grow including and robotic infrastructure. can referral Stereotaxis’ their practices and to can training showcase a impactful with they capability, use Robotic society clinical with simulators, led a navigation, Program

engagement These proud a of clinical our fellows our we future I'm class include to capabilities. of celebrate and confident hospitals are in we the globally. leaders robotic Fellowship XXXX, efforts of delighted physicians has and start generation is that grown the first in The over to XX electrophysiology careers ensure have our enrolled electrophysiology built In helps to at the Program support early and infrastructure implement new its graduating these fellows. currently over and as they fellows XX value. their XX technology were

We the to robotics outcome enrollment can report quantity XXXX, publications of in quality ventricular demonstrate of MAGNETIC-VT randomized ablation, XXXX, along tachycardia. of superiority for the study literature The also and believe our two complete trial the XXXX data and initiation to in initiation enrollment study a of year for in a clinical XX registries continues timeframe. with multicenter with peer-reviewed grow, and cardiac one continued

allow incrementally is that enter sales we capital sales, will for pipeline. a of experimenting a Stereotaxis phase As establishing and robust investing, system robotic renewed capabilities

is of building supply our the prudent a are a methodical that sustainable. capability chain We fashion way and and in this along build-up in with

impact practices business sales of and of long-term have by also the are robotic for and success the resurgence We excited cognizant enhancing system adoption remain for value. best systems the but for that robotic positive strategy will ensuring Stereotaxis, of is increased

We will continue capabilities to advance accordingly. commercial our

our and original ago. system The in reduced robotic past that have the Genesis physicians Genesis year highlight Stereotaxis significant Niobe Feedback lab Robotic collaboration leap for reinforce first improve over the from footprint and innovation the the progress will experience a since instantaneous architecture strategy. meaningfully magnetic of confidence technology years XX drive enhanced the meaningful to dozens visited The physician in efficiency. of launch the responsiveness, with take and our system made navigation was that test of the forward

accessibility us to customer fluoroscope affordability lab, enhance the the strategy a Genesis of tightly Combining a novel was while proprietary more with servicing difficulty] that integrated a and [technical friendly. allowed making robotic

regulatory related review for delighted this The week optimization clearance to I customers. were last for our Stereotaxis main and with On chain We engagement. last and Genesis. team Genesis. significant three FDA engagement receive efforts quarterly thank the described to call, diligent supply process, congratulate their I to milestone, for and to want FDA constructive

all supply are to timely chain, the our key in inventory good continue of progressing. is sufficient to robust but in how a I'm ensuring quantity pleased and have deliver effort, suppliers continuous with a fashion. capacity progress On This components building we make we

new with the labs. week's with -- to we're we begun robotic Commercially now customers in projects, building Europe, the have clearance, U.S. customers we on With existing replacement and in engaging same been do EP on last FDA beginning have potential

at to this replacement this months customers in that an being new We customer. have systems and this in anticipate the the year. practice the third existing system establishing of year, one we one of excited or hospital the a quarters received orders robotic to systems, and revenue two for electrophysiology I'm a delivered robotic recognize these second purchase two past start that since

The activity construction return multiple [often] pleased approval, purchase robot schedules. process very starting. taking and involving be real system the is process much contracts, a sales hospital for tender the to consistent of at am of and multiple robotic extensive it may coordination place and lengthy, linear, While with not hospitals. is layers the and robust I

an for with We to robotics. delighted ablation differentiated diagnostic innovative successful procedures technologies. for The announce around highly guide related architecture are Open that step XXXX, in our were exciting healthier role excited has an Medical, system. In progress. support play therapy. technologies in ultimately private ecosystems that also creating was in mapping Diego for based to mapping choice best development physician and patient Acutus developed and mapping to a mapping announce crucial broad providers integration by patient a overall physicians, OpenMapping integration company to software San the support ecosystem collaborations for care, cardiac information were we to providing multiple of Mapping important specific

in pre-innovative, ADAS technologies first this integrations that well we procedures ecosystem two have with customers to with XD are have added successful Late inHEART, the adopt multiple VIVO. and together. from Our we procedures XXXX, joint integrated mapping systems preoperative and and to been starting received,

patient strategic Stereotaxis’ with catheter. magnetic physician innovation The to improve meaningfully The improve financial significant being serves collaboration next significantly proprietary strategic positioning. to experience, announced is Osypka and designed XXXX the catheter is also a in to last develop and generation but care ablation our

catheter of substantial the revenue on growth a Genesis. to the of heels expect of driver serve second wave more as We the

well. is the in studies to were We catheter prototypes advancing the the animal excited February complete first of catheter. with Development of successfully

several with their catheter electrophysiologist the share to able and being of receive sophisticated benefit the had also We feedback.

are in catheter performance stand We pleased small we the making with to the and various and where further anticipate near-term. optimize refinements very to design the design finalizing

that we our will in the just patients customers the Stereotaxis. of have and initial proud and innovation innovation robust are We the can what represent on We're investment have our do. forays also that cognizant impact on announced on technologies we into

improved All coming technologies can of and the be years. further, in improve our will them we

advance For right provided it on prudent presentation long-term to value. updated this technologies strategy and most our innovation to our when insight the focused believe thing on and to a is available our R&D in methodical only We've various website. reasons new investor disclose relevant. is into We fashion for own shareholder --

make more in to a now the will results Kim financial detail few I'll financial opening and call comments our Q&A. then before discuss

Kimberly Peery

Thanks, $XX.X increased from year for of totaled the Recurring new and the certain for to accounts system full reduced $X.X primarily service declined year active revenue revenue Recurring full program. reflecting quarter service due Revenue age fourth contracts. good for $X.X quarter the of by the of of million. for primarily morning X% was inactive XXXX maintain as million the million. a $XX.X million $X.X and was totaled XXXX $X.X robotic Revenue do revenue the establishment million, XXXX everyone. for million. revenue System $X.X million year and David, revenue full not

XXXX fourth quarter XXXX totaled $X.X XXXX, quarter. from fourth Operating non-cash by in million the in and R&D, $X.X were expenses and in $XX.X driven full the investment for and quarter predominantly increase prior year in margin the general Operating XX%. administrative the the full million and consistent year with up expense. expenses Gross approximately year XX% the million, million $XX.X with for were

in loss $X.X and net the million loss million. Operating quarter were and fourth $X.X

full compared year, $X.X For had equivalents loss for XX, year million million. of million the operating the XXXX. of a to no XXXX, Negative million net and was XXXX and $X.X $XX.X was full cash debt. free full At year flow Stereotaxis million $X.X with the $X.X for cash cash loss December

the to I David. back call will now hand

David Fischel

is you, drives double-digit revenue existing in for time a sales Kim. XXXX commercialization robust and as anticipate of Genesis new This growth Thank Stereotaxis. exciting highly We to customers. resurgence in system a

As provide growth revenue clarity expect orders the beyond. year, and visibility sustaining and we we potentially into progress to into XXXX system in accelerating in robotic this new confidence and

will The expected magnetic a The to revenue proprietary addition increases revenue XXXX support of catheter future development growth new electrophysiology robotic of is in programs recurring wave contribute as an additional of revenue. ablation and beyond. to in

China material components robots. the some supply from and perspective, month seem manufacturing protected on when scale virus entirely comments China evolving struggle with sourcing saw rapidly of obviously a impact my suppliers caveat to virus take with do a to are activity comments chain Corona the of our anticipate a is impact that components Please have. of sub factories predict sourcing reduced A it We to of relatively closed. outbreak. or the few our we in situation and in the the almost From is will not be it of February hard during

risk [technical We Chinese and to in may actions this also us. the have proactive on reduction have taken difficulty] slowdown have a sensed is manufacturing prolonged reduce that that

the assess ablation are ablation Europe discretionary. activity. cardiac as the not our started may is of gradual but perspective, cardiac in we the most revenue we January X% approximately difficult Corona place procedures virus can procedures outside They China to spreads It to a recurring return of provide we In In ablation but and taking have to impact saw cardiac context on not almost comes from a China. China. volumes see and indefinitely. From that February, have through procedures be in virus March, U.S. to revenue late want delayed no the

as recurring is revenue recurring half activity from base. approximately from our and contracts any protected of Stereotaxis’ partially also annual and comes service volatility installed our service procedures, on revenue

open questions? That concludes the line please our prepared remarks. you Operator, can to

Operator

you. Thank first Jennings take from [Operator question Instructions]. with Josh We'll our Cowen.

Joshua Jennings

this of morning. progress, FDA orders David good the the all on already year. two and system Congratulations, the Genesis Hi, approval

you've from It customers. Just one terms and one level wanted to in any both got about each installed ask maybe you new one about customer base replacement and in Genesis from of approvals the and the customers, high talk sales U.S., the color funnel order demand your in order? like internationally new new can sounds

David Fischel

Yes, that's correct.

been the prepared of -- all, And labs, was on So systems orders Genesis. past robotic part like in we the kind Niobe, focus remarks, from if and two vast ensuring first second shift we to that we've the that cycle described the sale received real their -- has calls, year, one never sale we change our becomes on one cycle the system that we to approach of hospital the system a the majority, for expect mentioned from that the replacement had system. of previous was replacement this the replacement our not vast, in and the to they the commentary where opportunity doesn't entirely I my as are

And, as or drive we our the robust have who there be and we fellows then to of move who physicians sales their seen effort. effort expect build building is well. to a a that Greenfield is graduate, expect, gradual that able capability or Greenfield And Greenfield more an we're of technology start physicians obviously, level system a by also activity that of system natural to more peers. some because sales, But, to there's that

Joshua Jennings

two any or not able orders whether S -- Model accompanied Imaging just to were two share Stereotaxis’ then are and those for first by customers? you those Excellent,

David Fischel

include Imaging did orders Model two Those S. Stereotaxis’

Joshua Jennings

in Mark Osypka Excellent. expecting And or then then that are on just we on regulatory the success, still lay study should XXXX? approval and in the collaboration, what development out be next congrats the animal pathway, sometime you in CE steps could approval whether the

David Fischel

Sure.

very studies racking, animal it St. of those to the exciting very and with facility. were and very the were was in catheter, first did here in performance went the it how we of at it's the the going our animal So, Louis, new beginning nerve And, we now -- catheter, studies pleased overall with the navigation in we do And well. think the that kind we're of for capabilities. We're refining We with the excited and to design. field. start

additional design you it weeks. to in and and like So the design we that hopefully able iterate design I've do described the to make of catheter will hundreds process. expect final decisions And, of or very hundreds little be and better near a final that We're better. continuing iteration now animal But, kind we previously, includes studies. gradually coming

the process you do And, then validations. of manufacturing the and design, after close you some

engagement ensure done So to all we're that just validated the then we're the the -- the are strategy the kind process is as good also you're is these, doing not design, also our U.S. end bodies required plan product starting -- with manufacturing that to our regulatory a of and are Europe and stages starting and And of Europe the for in in the -- consistently. but

And than regulatory -- XXXX the that, think engaging we right so, with initial were and of other we're clinical is still kind of plan plan body I the in Europe. our

new again, And our it there. in are changes then, little the to despite MDR, will European U.S. early. sense bit impact discussions that not our And our our plan that Europe. But is initial the the for a engagement the catheter in had it's We've we is the starting sense within regulations, pathway

[technical next So difficulty]…. guidance bit provide be to able the we'll little maybe more on a

Operator

Chris investor. We'll next our take private Vaster, question from

Chris Vaster

color have a I revenue guidance as robust of -- hinted to around on growth to Two there been, past for your you you there new that of your which virus, came although the of something say is understand to want of focus the past, has you just is, But, build early Hey, see questions the, you on lead including where focus again of some little cardiac, think it's and cardiac? questions a With that cardiac give neurosurgery as David, Genesis my up will, could beyond in provided double-digit orders you to the Corona you both. and I in respect great the congratulations asked call appreciate the and I I still both lot late. have outside two the places if to businesses beyond on that beachhead color currently. were the at

David Fischel

mentioned precision I've or or believe I where that, endovascular neurovascular on. one beyond others. care of maybe to in would those as are applications, needs. you way of medical application the That's alumina areas those to and our areas. address just believe interventional past or of increase robotics, safety of that so one of increase kind focus there’s should we and -- either that you medicine stability to improve to accessibility or unmet reach want then where per enables clinical enables areas, that And interventional is I and types kind and help applications we energies do -- a approach in device.

have those think in that develop one of that And of range to applications. a so, But, a our broader we're are neurovascular mind. starting high applicability are solution definitely that indications across will down path we

Chris Vaster

in respect I’m year, installation. past then And the immediately with chosen orders, Louis, of out they until St. Others with last a Kansas robotic some the receive systems have I the new announcement order. to wait to press Okay, think great. release sorry, put companies installed. when are And the system

shift, on will mentioned -- this media more a being out in these put around reason believe a think just system or haven't to I Genesis? be installed, the expect that was releases? was should calls press that a QX there on there'll Is I had advance via you that press orders that which call of some announced to a just going we these these for new see be Is orders fully event. release you You the two

David Fischel

hospitals. internally That it's but somewhat by somewhat is externally also the driven, driven

as to orders. quarterly that -- to a hospital want more we we in announce sale. be Obviously, showcase where think their think to capital want an over you you long-term, from leadership individual shift of don't their I perspective, our also in the internal towards we individual to be Again, than generally system you're announcement trying position communities. every want customers rather want do a to able single

our their sometime so can feels on general in announcing that financial improve And to performance our there do. quarterly think the side, releases by shift thing their be a joint towards But right driven that are from like communities. standing I basis efforts to

Operator

Edward We'll take from our Grapevine. [Operator next Gilmore with Instructions]. Little question

Edward Gilmore

congrats David, so morning on good and Hi, far. progress the

in building expect just It color are, platform? the larger then towards revenue a Just using as OpenMappingAPI. steps add that a future. if as could the next drive on I to much a you. And and How for what question the strategy that are on many the for you how like API seems strategic currently wondered the Stereotaxis. developers is the Thank you some as maybe initiative API far

David Fischel

I'll this maybe step more a OpenMappingAPI broader and little bit of broadly, the is back concept. part Sure,

technology? around robotics. you are the improve lastly, ecosystem how the our ecosystem our your our collaborative improve creating If to improve strategy, to you And innovation and view goals competitive experience, patient build philosophical open do create to do our really is And technology, that an you care, create accessibility around look physician kind open of of at fourth to affordability of four it? four collaboration a a an ecosystem how goal, goals then and of

just so, a we're is that's and introducing it. ecosystem within our any us, board. and ecosystem competitive we're by an that's X-ray, our Even a build tenants wanted to more cost ecosystems trying the for of own -- your areas in one create best there enabling -- offering driving progress, across to open those a of like basic customer a we of Competitive the and kind to with in technological are technology in X-ray efficiency company driving friendly committed kind how customers, integrate to

now and -- concept. one-off And implemented integrate with where enables instead the in installations and provides who strategy software part the mapping mapping we patients, several us for [technical have in first more integrations, the that that so this broader for environment, delighted are I ecosystem that our Medical, OpenMappingAPI I a several same physicians the Europe together, and in ultimately integrated around with system the us attractive using any we U.S. we that's and, -- last with good were didn't the Acutus good joint hospitals is -- of But, believe last that we is relative difficulty]. time think year architecture first a obviously, of We a had we a that again, doing year, for for lot around announced technology ease. physicians, good we us and good to for have this

Operator

our take from next Hammer], [Mike question investor. private We��ll

Unidentified Analyst

a investor Stereotaxis. you. excited of today, in time long all been I've news Great for

earnings asking been that question. or two, the there's one fact, In was the only call I

you So the even the interest. have than that renewed love I product investor the vision, to technology commitments the sentiment. more development long-term I and guys love

do So other much are one], more kind but some that are -- investor reasons have so [you well, nonetheless. than the What later surface maybe question, one reports of quarterly the the companies? of but I a of an

David Fischel

Hi, know try me to Mike. let you answer or what, that. I let will

years in years earnings understanding And our has years my now. I finishing consistent think year-end we're terms of for been and that around is call. timing generally audit and this -- just our

that. Other if Kim So to to and see don't have much want the been And, much she I norm any we been wants not comments the into call somehow it. to has be too than read have that, completed. has audit into around that can this our additional more when to right I seems make.

Kimberly Peery

really don't to have that. anything else I add to

company. by considered a standards, filing smaller are reporting we're still SEC We

to So accelerated said the they then and just middle as the And due and the of month. that the first smaller typically move filers. typically, with is audit firms larger accelerated our not filers deal XX-K the until David

us And how so, is out. would of that just kind be the and this timing plays

Unidentified Analyst

Okay, thank you very much.

David Fischel

more a have didn't we Sorry, answer. interesting

Operator

next our from with Clark Management. Capital We'll question Riley take Robert

Robert Riley

or another This but a the in Yes. the place in Congrats my existing something it's legacy And those supported that bring is progress. formalized is more very to David, a to them with that morning, part time. Good going long to system period? new you've on business for year there the is accounts, indefinitely systems investor here forward of either or private be or past, own X your on phased-out for a Genesis or XX you alluded to have clarification. the that's plan upgrade a

David Fischel

they we plus years customers, we the X of So Niobe an to kind standard XX a expect replacement, active hundred as average. them use XX means lab years approach, which as about every about

and when to for expect that be no Niobe place, both their X-ray, and system the majority a to hospitals them. practice opportunity hospitals. we that vast old. -- was We And due a were their system room. desire across and have the by before will takes expect Genesis that contacted opportunity their replace just that to other opportunity we existed. that to when also that's changing labs, And of with available, change do benefit at to And the to we being have upgrade and not now, years some that we will then we sensing robot. due competent the XX be the sense a that them have then real And even point our to lot were tables us them the equipments the in seems what a standard And that -- obviously we had we And to to asking to good response upgrade. solution were

Robert Riley

then, And answers strategy. from more level sales question. if the a That one enough. could high fair Okay, I just

both brand a As you of into than the necessarily EP look you would Strategically, imagine States. and other? lab. might be United field, the a EP might brand because, you out customer than Europe the that's Genesis how markets I but cycle work shorter sales have to real there, sales managing missionary that those to both that full one a out conversion are with this and at shorter a sell required system certainly upgrade encourage existing with two the new across new want outcomes, go

David Fischel

a that's great question. Yes,

we clinical a robotic have team ablation already kind all And so, our of of existing operating that is practices. at

customers into our very, visibility very is so, good. And existing our

replacement have team And with and is and due and that able engaged long needs process. into they're confidence to ability [have] as in so, full to coming address drive our I those their advance hospitals that cycles

because increased over want to drive the that's share, increased do obviously long-term market and Greenfield growth. systems also We of driver long-term, the

underway that And Greenfield so, build there is sales to effort capability.

have have of side. lot of Greenfield who really primarily their we the on putting a individuals We are effort internally, few a kind

We experiment are some in kind our reaching top and of in to databases using inside out fashion broader invest funnel Greenfield to opportunities sales and with funnel where starting see to exist. capabilities, fill to a sites of may

enhance type implement to started relationship that also we've And a with co-marketing of Greenfield also capabilities. our broader will a group

Greenfield So I would capable on the the address establishing think experimenting new that several like, also I that or market. ways mentioned we're there's abilities call,

Robert Riley

years the tip developing into going new eight to down ablations I can -- know catheter cycle into can development complete other as or about if size talking, five you're now relates have or development thank road And down? tip it and catheter the size it can with talk neurovascular, to specifically, Great, to what Osypka a time, the moving move we're -- cardio you. you then the markets? be get you and the is

David Fischel

catheter. that size -- about really are a tip catheter understand with is your question the down. didn't developing The So I collaboration catheter Osypka in ablation ablation cardiac we I don't

we ablation So cardiac ways treat procedures it's to the cardiac think evolve for to the design ways market it designed may ablation future. to incorporate in There's really arrhythmias. specifically

are the we're that – application. of to look device but really we clinical When And you designed in likely to style other address kind it's order so, other in planning interventional advance, of at some applications. another you for of clinical are need applications,

of address be And applications. some the so, other would effort to of that, that those kind order in

Robert Riley

And space. of in moving of that's terms that style a different out

you. sense. Make ablations. for specifically So, Thank

David Fischel

Okay, you. thank

Operator

Brian We’ll take Retail question our next from Investor. Rackman,

Brian Rackman

the on Good FDA morning, approval. David, congratulations and

David Fischel

you. Thank morning. Good

Brian Rackman

The U.S.? purchase is in two they it. orders breakdown, quick the both one a the are Just missed in I EU maybe or

David Fischel

various didn't that are as in disclose We geographies. they

Brian Rackman

That Okay. question. All you the only Thank much. right. very was

David Fischel

Thank you.

Operator

in time. have this at questions more no We the queue

David Fischel

again you Thank of months. and interest look We're Stereotaxis. the to excited speaking ahead for support your and forward a very in you. continued much us Thank in couple year Okay. for

Operator

concludes call. participation. today's Thank your you for This

You may now disconnect.

Stereotaxis (STXS) 10 Mar 202019 Q4 Earnings call transcript