Stereotaxis makes robotic systems for minimally invasive endovascular procedures, primarily focused on cardiac electrophysiology (EP). Its core technology, Robotic Magnetic Navigation (RMN), uses computer-controlled external magnetic fields to steer flexible catheters inside a patient's heart or blood vessels — offering more precise control than conventional manual catheters. The primary clinical application is cardiac ablation, a procedure to treat arrhythmias by destroying diseased cardiac tissue. Stereotaxis' robots are particularly suited to complex arrhythmias like ventricular tachycardia, where precise catheter placement is critical. The company sells to hospitals through a direct sales force in the U.S. and Europe, supplemented by distributors elsewhere. Stereotaxis operates a razor-razorblade model: robots are the razor, and proprietary disposable catheters are the razorblades. System revenue is lumpy capital equipment sales; recurring revenue comes from disposable catheters and service contracts, with gross margins around 67–68% versus 15–22% for systems. Stereotaxis is building out a proprietary catheter portfolio — the MAGiC ablation catheter and MAGiC Sweep high-density mapping catheter — which management expects to increase disposable revenue per procedure approximately five-fold versus the prior single-device model. The next-generation GenesisX robot, which installs in existing cath labs without major construction, is expected to broaden hospital adoption. Stereotaxis is not yet profitable and is targeting profitability as catheter revenue scales across its installed base of over 100 hospitals globally.