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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
Tel: 1-781-8692553
IR: See website
Key People
Paul G. Cataford
Chairman of the Board, Interim President and Chief Executive Officer
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
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 three months ended 31 March 2022, Titan Medical Inc. revenues decreased from $50K to $0K. Net loss decreased 38% to $9.2M. Revenues reflect a decrease in demand for the Company's products and services due to unfavorable market conditions. Lower net loss reflects (Gain) loss on fair value of warrant increase from $3.1M (expense) to $2.9M (income), General and administrative decrease of 38% to $2.5M (expense).
Employees: 49 as of Dec 31, 2021
Reporting Currency: U.S. Dollars
Enterprise value: $25.49M as of Mar 31, 2022
Annual revenue (TTM): $25.74M as of Mar 31, 2022
EBITDA (TTM): -$39.29M as of Mar 31, 2022
Net annual income (TTM): -$11.92M as of Mar 31, 2022
Free cash flow (TTM): -$33.35M as of Mar 31, 2022
Net Debt Last Fiscal Year: N/A
Shares outstanding: 111,203,000 as of Mar 31, 2022
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization