Titan Medical Inc. (T:TMD)
Business Focus: Advanced Medical Equipment & Technology (NEC)
| Sector: Healthcare | Industry: Advanced Medical Equipment & Technology |
| See Regulatory Filings on SEDAR | |
| Company Contact | |
| Address: | 155 University Avenue 170 University Avenue TORONTO ON M5H 3B3 |
| Tel: | 1-781-8692553 |
| Website: | https://www.titanmedicalinc.com |
| IR: | See website |
| Key People | ||
| Paul G. Cataford Chairman of the Board | Eric Heinz Vice President - Market and Corporate Development | Cary G. Vance President, Chief Executive Officer, Director |
| Stephen Lemieux Chief Financial Officer | Perry A. Genova Senior Vice President - Research and Development; President of Titan Medical USA Inc | Chien Huang Vice President - Finance |
| Bill Fahey Vice President - Manufacturing and Operations | Chris Seibert Vice President - Upstream Marketing | Kristen Galfetti Vice President - Investor Relations and Corporate Communications | Tammy Carrea Vice President - Quality and Regulatory Affairs |
| Business Overview |
| Titan Medical Inc. is a medical technology company, which is focused on enhancing robotic assisted surgery using technologies. The Company develops the Enos robotic single access surgical system (the Enos System). The Enos System is focused to provide a surgical experience, which imitates real-life movements that surgeons demand and includes multi-articulating instruments designed to allow surgeons a range of motion in a confined space, with dexterity and the ability to exert the forces necessary to complete common surgical tasks. The Enos surgeon workstation includes a three-dimensional (3D) high-definition display to provide a balance of surgical immersion and situational awareness in the operating room. The display is mounted to the ergonomic workstation with a natural handle interface designed to deliver and support surgical posture, even during long procedures. It has designed the workstation to be mobile and to cover a smaller footprint. |
| Financial Overview |
| For the nine months ended 30 September 2022, Titan Medical Inc. revenues decreased from $10.1M to $0K. Net loss increased 25% to $30.5M. Revenues reflect a decrease in demand for the Company's products and services due to unfavorable market conditions. Higher net loss reflects Research and development increase of 23% to $9.4M (expense), Depreciation of PPE increase of 94% to $202K (expense). |
| Employees: | 49 as of Dec 31, 2021 |
| Reporting Currency: | U.S. Dollars |
| Enterprise value: | $87.44M as of Sep 30, 2022 |
| Annual revenue (TTM): | $13.31M as of Sep 30, 2022 |
| EBITDA (TTM): | -$50.06M as of Sep 30, 2022 |
| Net annual income (TTM): | -$28.01M as of Sep 30, 2022 |
| Free cash flow (TTM): | -$43.67M as of Sep 30, 2022 |
| Net Debt Last Fiscal Year: | N/A |
| Shares outstanding: | 111,890,707 as of Oct 4, 2022 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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