Catheter Precision (VTAK) AI Stock Analysis

• Market Cap: $3.24M
• Dividend Yield: N/A
• Average Volume (3M): 309.34K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.55
• Revenue Growth: 82.96%
• EPS Growth: 82.04%
• Country: US
• Employees: 22
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Devices
• EPS (TTM): -12.53
• Shares Outstanding: 1,668,375
• 10 Day Avg. Volume: 759,143
• 30 Day Avg. Volume: 309,336
• PEG Ratio: 0.03
• Price to Book (P/B): 2.38
• Price to Sales (P/S): 66.59
• P/FCF Ratio: -3.00
• Enterprise Value/Market Cap: 1.48
• Enterprise Value/Revenue: 6.56
• Enterprise Value/Gross Profit: 32.36
• Enterprise Value/Ebitda: -0.35
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 42 Neutral
• Price Target: $2.00 ▲(10.50% Upside)

The score is primarily weighed down by weak financial performance driven by very large ongoing losses and significant cash burn, despite improving revenue. Technicals add additional pressure as the stock trades below major moving averages with negative MACD. Valuation contributes limited support because losses make P/E less informative and no dividend yield is available.

Positive Factors

Revenue Growth

Consistent TTM revenue growth (~+21.7% to $0.73M) signals early commercial traction for its cardiac mapping platform. Sustained top-line expansion over the next 2–6 months can help absorb fixed R&D and sales costs, improve unit economics, and support progress toward scalable revenue and eventual breakeven.

FDA-cleared Product

An FDA-cleared cardiac mapping system is a durable competitive asset: it reduces regulatory adoption barriers, supports hospital purchasing and clinical trust, and enables incremental software and hardware iterations that reinforce clinical stickiness and long-term market positioning.

Recurring Revenue Streams

Consumables, catheters and service/maintenance contracts create recurring revenue and customer lock-in. Predictable repeat sales to installed customers raise lifetime value, smooth revenue volatility, and offer a scalable foundation for margin improvement as the installed base grows over several quarters.

Negative Factors

High Cash Burn

Substantial TTM cash burn (~-$9.6M operating and free cash flow) is a structural vulnerability given modest revenues. Persistent negative cash flow forces dependence on external financing or insider support and constrains investments in commercialization or R&D unless cash consumption meaningfully falls.

Weak Profitability

Low gross margin (~20%) combined with extremely negative net margins (~-2,381%) indicate the business yields little profit per sale while fixed operating costs are high. Structural margin weakness means scaling revenue alone may not restore profitability without material cost reduction or higher-margin product adoption.

Reliance on Insider Financing

Amendments extending CEO/affiliate promissory notes through 2028–2029 underscore ongoing dependence on insider financing and concentrated governance influence. This signals constrained external financing access, elevating liquidity, governance and dilution risk that can limit strategic flexibility over the medium term.

Catheter Precision Business Overview & Revenue Model

Company Description

Catheter Precision, Inc. develops and delivers electrophysiology products to provide patients, hospitals, and physicians with technologies and solutions to improve the lives of patients with cardiac arrhythmias in the United States. The company's lead product is View into Ventricular Onset System, a non-invasive imaging system that offers 3D cardiac mapping to help with localizing the sites of origin of idiopathic ventricular arrhythmias in patients with structurally normal hearts prior to EP procedures. It also provides LockeT, a suture retention device; and Amigo Remote Catheter System, a robotic arm that serves as a catheter control device. The company was formerly known as Ra Medical Systems, Inc and changed its name to Catheter Precision, Inc. in August 2023. Catheter Precision, Inc. is based in Fort Mill, South Carolina.

How the Company Makes Money

Catheter Precision generates revenue primarily through the sale of its cardiac mapping systems and related software solutions to hospitals and healthcare providers. The company also earns income from ongoing sales of consumable products associated with its systems, including catheters and accessories used during procedures. Additionally, Catheter Precision may benefit from service contracts and maintenance agreements for their equipment, providing a recurring revenue stream. Strategic partnerships with hospitals and medical institutions, as well as collaborations with research organizations, may further enhance their market reach and contribute to their overall earnings.

Catheter Precision Financial Statement Overview

Summary

Revenue improved to ~$0.73M TTM (+21.7%), but profitability remains extremely weak (TTM net margin ~-2,381% and low ~20% gross margin). Cash flow is a major concern with sustained high burn (TTM operating cash flow about -$9.64M and free cash flow about -$9.66M). Balance sheet leverage is moderate (debt-to-equity ~0.51) but rising, increasing financing risk while losses persist.

Income Statement

TTM (Trailing-Twelve-Months) revenue improved to ~$0.73M with strong growth (+21.7%), showing some commercial momentum versus prior years. However, profitability remains very weak: gross margin is low (~20%) and losses are extremely large relative to revenue (TTM net margin ~-2,381%, with deeply negative operating margins). While losses have narrowed from the exceptionally poor 2023 net margin, the business is still far from breakeven and appears heavily burdened by operating expenses versus its current revenue base.

Balance Sheet

The balance sheet shows moderate leverage in TTM with debt of ~$3.48M against equity of ~$6.78M (debt-to-equity ~0.51), a meaningful increase from prior years when leverage was low. Total assets remain sizable (~$25.5M), but shareholder returns are sharply negative (TTM return on equity ~-2.09), reflecting persistent losses and potential ongoing dilution/financing needs. Overall, solvency is not immediately distressed, but the trend toward higher leverage and continued losses increases financial risk.

Cash Flow

Cash generation is a major weak point: TTM operating cash flow is about -$9.64M and free cash flow about -$9.66M, indicating a continued high cash burn. Free cash flow also deteriorated versus the prior period (negative growth), and cash outflows have been consistently large across the historical annual periods provided. Although free cash flow tracks net loss closely (suggesting losses are largely cash-based rather than accounting-only), the sustained burn implies ongoing reliance on external funding until revenues scale materially or costs are reduced.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	730.00K	420.00K	442.00K	14.00K	22.00K	259.00K
Gross Profit	148.00K	378.00K	412.00K	-147.00K	-1.54M	-1.91M
EBITDA	-13.56M	-11.30M	-15.11M	-22.37M	-25.85M	-33.04M
Net Income	-17.38M	-16.64M	-70.57M	-26.86M	-25.07M	-36.05M
Balance Sheet
Total Assets	25.47M	27.77M	30.74M	16.84M	21.04M	33.44M
Cash, Cash Equivalents and Short-Term Investments	1.07M	2.87M	3.56M	15.86M	15.04M	23.91M
Total Debt	3.48M	1.79M	372.00K	0.00	2.26M	4.88M
Total Liabilities	19.02M	16.01M	9.54M	7.58M	7.37M	12.29M
Stockholders Equity	6.78M	11.76M	21.19M	9.26M	13.67M	21.15M
Cash Flow
Free Cash Flow	-9.66M	-9.34M	-20.70M	-22.59M	-27.89M	-28.37M
Operating Cash Flow	-9.64M	-9.27M	-20.62M	-22.57M	-27.63M	-28.30M
Investing Cash Flow	-51.00K	-67.00K	-61.00K	21.00K	3.80M	15.93M
Financing Cash Flow	9.50M	8.65M	8.39M	23.36M	14.96M	21.69M

Catheter Precision Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1.81
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For VTAK, the sentiment is Negative. The current price of 1.81 is below the 20-day moving average (MA) of 2.08, below the 50-day MA of 2.09, and below the 200-day MA of 3.37, indicating a bearish trend. The MACD of <0.01 indicates Positive momentum. The RSI at 43.84 is Neutral, neither overbought nor oversold. The STOCH value of 16.87 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for VTAK.

Catheter Precision Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
NUWE	50 Neutral	$6.25M	-0.04	-467.14%	―	-8.93%	97.80%
PAVM	49 Neutral	$8.24M	-0.45	20.03%	―	-99.28%	-46.17%
HSCS	46 Neutral	$10.27M	-0.47	-220.42%	―	-41.03%	35.71%
AEMD	45 Neutral	$2.43M	-0.05	-191.39%	―	―	76.53%
VTAK	42 Neutral	$3.24M	-0.05	-173.74%	―	82.96%	82.04%
VERO	40 Underperform	$2.36M	-0.03	-854.61%	―	-12.39%	44.61%

Catheter Precision Corporate Events

Catheter Precision Extends Insider Short-Term Debt Maturities

On December 31, 2025, Catheter Precision, Inc. executed second amendments to each of its outstanding 8% short-term promissory notes, extending their maturity dates from January 31, 2026, to January 31, 2029, for notes totaling $1 million held by CEO David A. Jenkins and FatBoy Capital, L.P., and to January 31, 2028, for a $500,000 note held by the Jenkins Family Charitable Institute. The transaction underscores the company’s reliance on and continued financial backing from related parties closely tied to its chief executive, consolidating long-term insider financing while also highlighting the concentration of economic interests and governance influence among Jenkins and his affiliates.

The most recent analyst rating on (VTAK) stock is a Hold with a $1.50 price target. To see the full list of analyst forecasts on Catheter Precision stock, see the VTAK Stock Forecast page.

Catheter Precision Ends At-Market-Offering Agreement

On November 17, 2025, Catheter Precision, Inc. announced the termination of its At-Market-Offering Agreement with Ladenburg Thalmann & Co. Inc., effective November 24, 2025. The agreement allowed the company to sell shares of its common stock up to $4.3 million, of which approximately $4.0 million had been sold prior to termination. The company will not incur any penalties due to this termination.

The most recent analyst rating on (VTAK) stock is a Sell with a $1.50 price target. To see the full list of analyst forecasts on Catheter Precision stock, see the VTAK Stock Forecast page.