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, SUITE 750 TORONTO ON M5H 3B7 |
| Tel: | 1-781-8692553 |
| Website: | https://www.titanmedicalinc.com |
| 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 | |
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