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Last update at 2024-10-15T17:23:00Z
Titan Medical Reports Operating and Financial Results for the Third Quarter 2023
Thu 02 Nov 23, 11:30 AMTitan Medical Announces Change in Auditor
Wed 18 Oct 23, 03:35 PMTitan Medical Announces Appointment of New Independent Member to its Board of Directors
Mon 14 Aug 23, 11:30 AMTitan Medical Reports Operating and Financial Results for the Second Quarter 2023
Thu 10 Aug 23, 09:00 PMTitan Medical Reports Voting Results From Annual General Meeting of Shareholders
Tue 04 Jul 23, 11:30 AMTitan Medical Successfully Transitions to an IP Licensing Company
Tue 20 Jun 23, 11:30 AMTitan Medical Announces Lifting of Management Cease Trade Order
Fri 16 Jun 23, 11:30 AM| Breakdown | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Income before tax | -42.59800M | -14.80200M | -24.18466M | -41.90708M | -22.63927M |
| Minority interest | - | - | - | - | - |
| Net income | -42.54200M | -14.85800M | -49.68766M | -22.14441M | -22.63927M |
| Selling general administrative | 10.90M | 12.43M | 7.49M | 7.53M | 6.57M |
| Selling and marketing expenses | - | - | 0.14M | 0.29M | 0.23M |
| Gross profit | - | 20.09M | 20.00M | - | 0.00000M |
| Reconciled depreciation | 0.86M | 0.70M | 0.24M | 0.03M | 0.03M |
| Ebit | - | -30.98700M | 2.95M | -61.24676M | -22.63927M |
| Ebitda | -41.59100M | -29.61000M | 2.65M | -61.21421M | -22.61023M |
| Depreciation and amortization | - | 1.38M | -0.29916M | 0.03M | 0.03M |
| Non operating income net other | - | - | - | - | - |
| Operating income | -47.08700M | -30.98700M | 2.95M | -61.24676M | -39.69034M |
| Other operating expenses | - | 51.08M | 15.80M | 59.27M | 39.69M |
| Interest expense | 0.15M | 0.12M | 1.09M | 0.42M | 0.98M |
| Tax provision | -0.05600M | 0.06M | - | - | - |
| Interest income | 4.49M | 15.58M | 27.83M | 19.92M | 17.38M |
| Net interest income | -0.00300M | -0.05200M | -2.87839M | -2.40444M | -1.02404M |
| Extraordinary items | - | - | - | - | - |
| Non recurring | - | - | - | - | - |
| Other items | - | - | - | - | - |
| Income tax expense | - | 0.06M | 25.50M | -19.76267M | 0.00000M |
| Total revenue | 0.00000M | 20.09M | 20.00M | 0.00000M | 0.00000M |
| Total operating expenses | 44.77M | 51.08M | 15.80M | 59.27M | 39.69M |
| Cost of revenue | - | - | - | - | 0.00000M |
| Total other income expense net | 2.18M | 16.18M | -27.13022M | 19.34M | 17.05M |
| Discontinued operations | - | - | - | - | - |
| Net income from continuing ops | -42.54200M | -14.85800M | -24.18466M | -41.90708M | -22.63927M |
| Net income applicable to common shares | -42.54200M | -14.85800M | -24.18466M | -41.90708M | -22.63927M |
| Preferred stock and other adjustments | - | - | - | - | - |
| Breakdown | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Total assets | 7.12M | 47.22M | 29.84M | 3.38M | 21.92M |
| Intangible assets | 2.08M | 1.92M | 1.78M | 1.60M | 1.17M |
| Earning assets | - | - | - | - | - |
| Other current assets | - | 3.08M | 0.77M | 0.48M | 9.13M |
| Total liab | 10.28M | 11.93M | 43.65M | 15.06M | 17.70M |
| Total stockholder equity | -3.16400M | 35.29M | -13.80949M | -11.68183M | 4.22M |
| Deferred long term liab | - | - | - | - | - |
| Other current liab | 0.28M | 10.55M | 40.85M | 15.03M | 17.70M |
| Common stock | 264.51M | 263.36M | 215.82M | 194.86M | 170.50M |
| Capital stock | 264.51M | 263.36M | 215.82M | 194.86M | 170.50M |
| Retained earnings | -284.68000M | -253.88700M | -239.02943M | -214.84477M | -172.93769M |
| Other liab | - | 0.06M | - | - | - |
| Good will | - | - | - | - | - |
| Other assets | - | - | - | - | - |
| Cash | 3.29M | 32.31M | 25.47M | 0.81M | 11.47M |
| Cash and equivalents | - | - | 24.17M | 0.67M | - |
| Total current liabilities | 8.96M | 10.89M | 42.90M | 15.06M | 17.70M |
| Current deferred revenue | - | - | - | - | - |
| Net debt | - | -30.97900M | -22.66675M | -0.78542M | -11.47124M |
| Short term debt | 0.00000M | 0.35M | 2.05M | 0.02M | 0.00000M |
| Short long term debt | - | - | 1.89M | - | - |
| Short long term debt total | - | 1.33M | 2.80M | 0.03M | - |
| Other stockholder equity | - | 25.82M | 9.40M | 8.30M | 7.17M |
| Property plant equipment | 0.00000M | 1.64M | 1.11M | 0.03M | 0.00000M |
| Total current assets | 5.04M | 43.66M | 26.95M | 1.75M | 20.74M |
| Long term investments | - | - | - | - | - |
| Net tangible assets | - | 33.37M | -15.58747M | -13.28358M | 3.04M |
| Short term investments | - | - | - | - | 11.37M |
| Net receivables | 0.00000M | 8.28M | 0.07M | 0.08M | 0.14M |
| Long term debt | - | - | - | - | - |
| Inventory | - | - | - | - | - |
| Accounts payable | - | 5.62M | 4.08M | 10.85M | 6.45M |
| Total permanent equity | - | - | - | - | - |
| Noncontrolling interest in consolidated entity | - | - | - | - | - |
| Temporary equity redeemable noncontrolling interests | - | - | - | - | - |
| Accumulated other comprehensive income | - | - | -0.14010M | -0.00378M | -0.51796M |
| Additional paid in capital | - | - | - | - | - |
| Common stock total equity | - | - | 215.82M | 194.86M | 170.50M |
| Preferred stock total equity | - | - | - | - | - |
| Retained earnings total equity | - | - | - | - | - |
| Treasury stock | - | - | - | - | - |
| Accumulated amortization | - | - | - | - | - |
| Non currrent assets other | - | - | - | 1.63M | 1.17M |
| Deferred long term asset charges | - | - | - | - | - |
| Non current assets total | 2.08M | 3.56M | 2.89M | 1.63M | 1.17M |
| Capital lease obligations | 1.71M | 1.33M | 0.92M | 0.03M | - |
| Long term debt total | 1.32M | 0.98M | 0.75M | 0.00800M | 0.00000M |
| Breakdown | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Investments | -1.02000M | -0.75500M | -0.59937M | -0.45804M | -0.42059M |
| Change to liabilities | - | 1.09M | -4.37137M | 4.97M | 4.23M |
| Total cashflows from investing activities | -1.02000M | -0.75500M | -0.59937M | -0.45804M | -0.42059M |
| Net borrowings | - | 0.03M | 1.41M | -0.00510M | -0.00510M |
| Total cash from financing activities | -0.41900M | 44.21M | 26.10M | 35.76M | 27.16M |
| Change to operating activities | - | -1.59700M | -0.00054M | 0.00834M | 0.00834M |
| Net income | -42.54200M | -14.85800M | -24.18466M | -41.90708M | -22.63927M |
| Change in cash | -29.01700M | 6.84M | 24.65M | -10.65675M | -14.65925M |
| Begin period cash flow | 32.31M | 25.47M | 0.81M | 11.47M | 26.13M |
| End period cash flow | 3.29M | 32.31M | 25.47M | 0.81M | 11.47M |
| Total cash from operating activities | -27.57800M | -36.61700M | -0.84512M | -45.96037M | -41.39678M |
| Issuance of capital stock | 0.00000M | 34.18M | 24.69M | 35.77M | 27.16M |
| Depreciation | 0.86M | 0.70M | 0.24M | 0.03M | 0.03M |
| Other cashflows from investing activities | - | - | - | - | 0.00000M |
| Dividends paid | - | - | - | - | - |
| Change to inventory | - | - | - | - | - |
| Change to account receivables | - | -10.02800M | -0.54443M | 8.34M | -6.50826M |
| Sale purchase of stock | 0.00200M | 12.71M | 24.69M | 35.77M | 27.16M |
| Other cashflows from financing activities | - | 10.31M | 1.50M | -0.45804M | -0.42059M |
| Change to netincome | - | -11.92100M | 28.02M | -17.38734M | -16.50782M |
| Capital expenditures | 1.02M | 0.76M | 0.60M | 0.46M | 0.42M |
| Change receivables | - | - | - | - | - |
| Cash flows other operating | - | - | - | - | - |
| Exchange rate changes | - | - | - | - | - |
| Cash and cash equivalents changes | - | - | - | - | - |
| Change in working capital | 12.19M | -10.53700M | -4.91580M | 13.30M | -2.27872M |
| Stock based compensation | 4.08M | 4.04M | 1.10M | 1.65M | 1.51M |
| Other non cash items | 0.13M | -16.01300M | 26.92M | -19.03846M | -18.01345M |
| Free cash flow | -28.59800M | -37.37200M | -1.44449M | -46.41840M | -41.81736M |
Sector: Healthcare Industry: Medical Devices
| Company | Change (CAD) | Price (CAD) | Trailing PE (x) | Forward PE (x) | Price Sales TTM (x) | Price to Book Value (x) | Enterprise Value to Revenue (x) | Enterprise Value to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| TMD Titan Medical Inc |
-0.005 10.00% | 0.04 | - | - | 0.59 | 2.03 | 0.54 | -0.3059 |
| HTL Hamilton Thorne Ltd. |
-0.01 0.44% | 2.24 | - | 45.87 | 4.73 | 3.92 | 3.64 | 42.65 |
| PRN Profound Medical Corp |
-0.36 3.31% | 10.50 | - | - | 37.22 | 5.39 | 23.36 | -7.9326 |
| QIPT Quipt Home Medical Corp. |
-0.02 0.59% | 3.38 | - | 54.05 | 0.66 | 1.06 | 0.78 | 3.84 |
Titan Medical Inc., a medical technology company, focuses on the development and commercialization of robotic assisted surgical technologies for application in minimally invasive surgery. It is developing the Enos system, a robotic single access surgical system that includes a surgeon-controlled patient cart comprising a 3D high-definition vision system and multi-articulating instruments for performing surgical procedures; and a surgeon workstation that provides the surgeon with ergonomic interface to the patient cart and a 3D endoscopic view inside the patient's body during surgical procedures. The company is headquartered in Toronto, Canada.
76 Berkeley Street, Toronto, ON, Canada, M5A 2W7
| Name | Title | Year Born |
|---|---|---|
| Mr. Cary G. Vance | CEO, Pres & Director | 1966 |
| Mr. Stephen L. Lemieux BA, CA, CPA, MMPA | Chief Financial Officer | NA |
| Mr. Jasminder Brar | VP of Legal, IP & Strategic Initiatives, Corp. Sec. and Gen. Counsel | NA |
| Ms. Kristen P. Galfetti | VP of Investor Relations & Corp. Communications | NA |
| Mr. Eric Heinz | VP of Market & Corp. Devel. | NA |
| Mr. Nate Jones | Director of HR | NA |
| Ms. Tammy Barnes Carrea | VP of Quality and Regulatory Affairs | NA |
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