Stereotaxis, Inc. (AMEX:STXS) Q2 2023 Earnings Call Transcript

Page 8 of 8

But I think it will be a kind of a much lower level and given the types of revenue and the cash inflows that we’re getting from the Genesis system they should be below that before — below the cash inflows. So I’d say that kind of obviously, our guidance of $22 million to $24 million of cash at the end of this year that — that is kind of representative of the fact that cash flow is going to be much better as we don’t have to continue to invest as much in that type of inventory. What was your second question? Sorry, I forgot it, Neil.

Q –Neil Chatterji: Yes. No, just on the pipeline, just any update on kind of the OR connectivity, I guess, like [indiscernible]. Thanks.

David Fischel: So yes, so the thing software for connectivity, we are just at the stages where we’re going to be doing an internal limited market release as a full kind of a full product in a production environment and downloaded from the app stores, both iOS and Android. We’ll be doing it with our internal team and then with a few of our existing customers to start making sure that it is working well that there are no bugs that kind of — that all the features are kind of as desired by our customers that can serve well both for the peer-to-peer connection between physicians and also for our team as we do remote support of procedures and remote both technical and clinical support. And so we’re going to be running that out probably starting already in a month from now or so.

And then as kind of as we — as kind of we go through that LMR process, then we’ll decide on when to do actual kind of public formal launch. Hopefully, that limited market release date can take will be a few months. We’ve already started working with hospitals that’s — there are approval process. We have a lot of experience with cybersecurity and working with hospitals, IT groups through the due diligence required for connected technologies in the hospital environment. Probably about 80% of our hospitals have connectivity with us through VPNs currently. That’s what allows us to do remote support and allows us to gain a real-time data from the robots. This solution is a much more elegant way and scalable way of doing connectivity with individual sites, and we have a lot of experience with cybersecurity and so we designed.

I think in a way that is, I think, very good and well suited for the hospital environment, but you still need to go through a new review process and kind of all that that that entails. We’ve actually started that process with initial hospitals. Those will probably take a few months. So we’re kind of — I think kind of what we’ve started some of that limited market release work. And as we go through, are able to put sync in a few hospitals are able to get the limited market with this feed back then we will kind of play in the full launch.

Q –Neil Chatterji: Great. Thanks a lot. That’s it for me.

David Fischel: Thank you, Neil. We have no further questions in queue. I would like to turn the call back over to David Fischel for closing remarks.

David Fischel: Okay. Thank you very much for all your questions. We appreciate your continued support, and we look forward to working hard on your behalf in the coming months, and we’ll speak again next quarter. Thank you very much.

Operator: This concludes today’s conference call. Thank you for your participation. You may now disconnect.

Follow Stereotaxis Inc. (NASDAQ:STXS)

Page 8 of 8