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Titan Medical Inc. (T:TMD)

Business Focus: Biotechnology & Medical Research

Sector:  Healthcare Industry:  Biotechnology & Medical Research
See Regulatory Filings on SEDAR
Company Contact
Address: 170 University Ave
Tel: N/A
IR: See website
Key People
David J. McNally
Chairman of the Board, President, Chief Executive Officer
Monique L. Delorme
Chief Financial Officer
Perry A. Genova
Senior Vice President - Research and Development
Sachin Sankholkar
Vice President of Marketing
Curtis R. Jensen
Vice President - Quality and Regulatory Affairs
Chris Seibert
Vice President - Business Development
Business Overview
Titan Medical Inc. is focused on the development of computer-assisted robotic surgical technologies for application in minimally invasive surgery (MIS) comprising its single-port robotic surgical system. The system under development includes a surgeon-controlled patient cart that includes a three dimension (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 patient cart and a 3D endoscopic view inside the patient's body during MIS procedures. It is developing its SPORT Surgical system as a versatile single incision advanced robotic surgical system that features multi-articulated instruments with single-use replaceable tips. It also features visualization on a flat-screen monitor and a single-arm mobile patient cart while enabling broad applications of a single and multi-quadrant surgeries.
Financial Overview
For the nine months ended 30 September 2020, TitanMedical Inc. revenues increased from $0K to $10M. Net lossdecreased 92% to $3.6M. Revenues reflect an increase indemand for the Company's products and services due tofavorable market conditions. Lower net loss reflectsResearch and development decrease of 95% to $2.4M (expense), Consulting fees decrease of 69% to $318K (expense), Stockbased compensation decrease of 49% to $721K (expense).
Employees: 10 as of Dec 31, 2019
Reporting Currency: U.S. Dollars
Enterprise value: $144.30M as of Sep 30, 2020
Annual revenue (TTM): $12.92M as of Sep 30, 2020
EBITDA (TTM): -$1.61M as of Sep 30, 2020
Net annual income (TTM): -$1.47M as of Sep 30, 2020
Free cash flow (TTM): -$4.21M as of Sep 30, 2020
Net Debt Last Fiscal Year: N/A
Shares outstanding: 82,184,843 as of Nov 16, 2020
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization