Stereotaxis, Inc.

Good morning. Thank you for joining us for Stereo Taxes fourth quarter and full year 2024 earnings conference call. Certain statements during the conference call and question and answers 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 period report on Form 10-K or 10-Q. We assume no duty to update these statements. At this time, all participants have been placed on listen-only mode. The floor will be open for questions and comments following the presentation. As a reminder, today's call is being recorded. It is now my pleasure to turn the floor over to your host, David Fishel, Chairman and CEO of Steered Taxes.

Thank you, Operator, and good morning, everyone. It's an exciting time at Stereotaxis. We are making significant, broad-based progress in establishing the attractive foundations on which to grow a substantial company. In tandem with our quarterly results, this morning we announced in separate press releases two significant milestones with FDA submissions made for key catheter innovations. Stereotaxis is in the midst of a major strategic transformation. I'll discuss our progress in greater detail in a moment, but this is But this being our annual call, I want to first step back and briefly provide context for our mission, path, and strategy. Stereotaxis's overarching mission is to improve endovascular surgery with robotics, to become the intuitive surgical of minimally invasive endovascular interventions. It's a huge field of medicine with tens of millions of procedures performed annually, but with essentially no robotic adoption. Unlike robots in other fields, a robot in the endovascular space must control highly flexible devices navigating through tiny, delicate blood vessels. This is particularly challenging and has led to a graveyard of failed attempts to address the field, with Stereotexis left standing as the battle-tested flag bearer for this mission. It's an important mission, and there's significant room to improve patient care with the precision, safety, and unique mechanistic and digital capabilities of robotics. Stereotaxis approached the technical challenge of navigating the tortuous, delicate, and vascular anatomy with a unique mechanism of action using precise computer-controlled magnetic fields to allow for direct control of the distal tip of specialized interventional devices. Over the years, we refined the technology and demonstrated its clinical relevance and value in robust real-world use at over 100 hospitals that have treated over 150,000 patients. While our technology was advanced and differentiated, we suffered from key structural and strategic limitations. We didn't develop or sell the catheters needed in a robotic procedure, creating unhealthy dependencies, commercial and operational stress, limited innovation, and a poor razor-without-the-razor-blade business model. Our robot was never advanced to the point where it could be easily adopted, limiting access to the hospitals interested in its benefits and making rapid scaling essentially impossible. We remained focused on one specific clinical application, minimizing the platform potential of our technology to help patients with a variety of diseases. Clear-eyed and intellectually honest on these issues, a comprehensive and elegant strategy was developed to address them. It was creative and required significant innovation, but was realistic for us to accomplish while controlling technological and financial risk. It's attractive as it addresses each of our core structural issues, establishes a solid foundation for a healthy business, provides strategic independence, and sets us up for commercial breakout. Most importantly, for the patients and physicians that rely on us, our innovations improve and broaden our positive impact. Our strategy rests in four primary pillars. First, making our robot widely available by innovating it such that it doesn't require construction and can be rapidly installed in the majority of labs. Second, building an ecosystem of catheters and integrations in our core EP ablation market so physicians have greater choice in technologies while we reduce our dependencies and build an attractive razor blade business.

Third,