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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
Tel: 1-781-8692553
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