Titan Medical Inc. (T:TMD)

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Business Focus: Advanced Medical Equipment & Technology

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Sector:  Healthcare Industry:  Advanced Medical Equipment & Technology
See Regulatory Filings on SEDAR
Company Contact
Address: 170 University Ave
Tel: N/A
Website: https://www.titanmedicalinc.com
IR: See website
Key People
John E. Barker
Interim Chairman of the Board
David J. McNally
President, Chief Executive Officer, Director
Stephen D. Randall
Chief Financial Officer, Secretary
Curtis R. Jensen
Vice President - Quality and Regulatory Affairs
Perry A. Genova
Vice President - Research & Development
Business Overview
Titan Medical Inc. is a Canada-based company engaged in developing robotic surgical system for use in connection with minimally invasive surgery (MIS) (surgery without large incisions). The Company is developing the SPORT (Single Port Orifice Robotic Technology) Surgical System, a single-port/single-incision robotic surgical system to provide tele-operation (remote surgery) capabilities. The SPORT Surgical System comprises a surgeon-controlled robotic platform (patient cart) that includes a three dimensional (3D) high definition vision system and multi-articulating instruments for performing MIS procedures, and a surgeon workstation that provides the surgeon with an ergonomic interface to the robotic platform and also provides a 3D endoscopic view of inside a patient's body during MIS procedures. The SPORT Surgical System is also being developed to allow for data collection and analytics that could be utilized by the surgeon and/or operation room teams.
Financial Overview
For the six months ended 30 June 2018, Titan Medical Inc. revenues was not reported. Net loss decreased 2% to $6.7M. Lower net loss reflects Gain on change in fair value ofwarrants increase from $2.4M to $5.9M (income), Foreign exchange (gain)/loss decrease from $81K (expense) to $932K (income), Interest increase from $5K to $83K (income). Basic Earnings per Share excluding Extraordinary Items increased from -$1.18 to -$0.49.
Employees: 7 as of Dec 31, 2015
Reporting Currency: U.S. Dollars
Enterprise value: $22.40M as of Jun 30, 2018
Annual revenue (TTM): $0.00M as of Jun 30, 2018
EBITDA (TTM): -$30.47M as of Jun 30, 2018
Net annual income (TTM): -$43.78M as of Jun 30, 2018
Free cash flow (TTM): -$31.32M as of Jun 30, 2018
Net Debt Last Fiscal Year: N/A
Shares outstanding: 21,675,849 as of Aug 14, 2018
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization