STXS · CIK 0001289340
What Stereotaxis, Inc. told the SEC could break it.
Stereotaxis's disclosures center on a single-source supply chain and a regulatory gate on its sales. Critical components — including the magnets for its robotic magnetic navigation system and certain Odyssey Solution parts — come from a single supplier, with the magnets for its disposable interventional devices potentially purchased by its subcontractor from one manufacturer in Japan, and it holds little inventory buffer. On the demand side, many states require hospitals to obtain a certificate of need before buying its system, and some of its purchase orders are conditioned on that approval — a regulatory hurdle that can delay or block sales.
3 self-disclosed vulnerabilities, pulled from its own filings, each in the company’s words, with the source. This is the risk register almost nobody reads.
In its own words
What could break it.
Geographic concentration
- Magnets sourced from a manufacturer in Japanmedium
Magnets for disposable interventional devices may be purchased by the company's subcontractor directly from a single manufacturer in Japan, concentrating a key input in one foreign source.
“In addition, our subcontractor may purchase magnets for our disposable interventional devices directly from a manufacturer in Japan.”
Regulatory & policy
- State certificate-of-need laws gating system purchasesmedium
In many states, hospitals must obtain a certificate of need to purchase the robotic navigation system, and some purchase orders are conditioned on that approval — a regulatory hurdle that can delay or block sales.
“Many of the states in which we sell robotic magnetic navigation systems have laws that require institutions located in those states to obtain a certificate of need in connection with the purchase of our system, and some of our purchase orders are conditioned upon our customer's receipt of necessary certificate of need approval.”
SEC filing →As of 2026
Supplier concentration
- Single supplier for magnets and key system componentsmedium
Critical components — including the magnets for the robotic magnetic navigation system and certain Odyssey Solution components — are supplied by a single supplier, and the company holds little inventory buffer.
“In addition, some of the components necessary for the assembly of our products are currently provided to us by a single supplier, including the magnets for our robotic magnetic navigation system and certain components of our Odyssey Solution, and we generally do not maintain large volumes of inventory.”
SEC filing →As of 2026
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