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Ekso Bionics(EKSO) - 2025 Q1 - Earnings Call Transcript
2025-05-05 21:32
Financial Data and Key Metrics Changes - The company recorded revenue of $3.4 million in Q1 2025, down from $3.8 million in Q1 2024, attributed to capital budget impacts from certain inpatient rehabilitation facilities related to the EksoNR enterprise health product [7] - Gross profit for Q1 was $1.8 million, representing a gross margin of approximately 54%, compared to a gross profit of $2 million and a gross margin of 52% in Q1 2024 [8] - Operating expenses for Q1 2025 were $5.3 million, essentially unchanged from $5.2 million in Q1 2024 [8] - Net loss applicable to common stockholders for Q1 2025 was $2.9 million or $0.12 per share, compared to a net loss of $3.4 million or $0.20 per share in Q1 2024 [8] - As of March 31, 2025, the company had cash and restricted cash of $8.1 million, up from $6.5 million at the end of 2024 [9] Business Line Data and Key Metrics Changes - The primary end market for the company's exoskeleton technology is healthcare, with two segments: enterprise health and personal health [6] - The legacy enterprise health products, mainly the EksoNR device, faced revenue declines due to budget impacts, while the Ekso Indigo personal device saw growth [10][11] - The company developed a pipeline of over 35 Medicare beneficiaries qualified for the Ekso Indigo Personal in 2025, a 37% increase from the previous quarter [12] Market Data and Key Metrics Changes - The company noted softness in the legacy enterprise business due to macroeconomic uncertainties affecting customer capital budgets [10] - The engagement with Priya Healthcare and the establishment of new distribution partnerships are expected to enhance market access and claims processing for the Ekso Indigo Personal [11][15] Company Strategy and Development Direction - The company is focusing on building a scalable go-to-market strategy for the Ekso Indigo Personal, leveraging partnerships with distribution networks [14][15] - The strategy includes working closely with neuro rehabilitation partners and enhancing education efforts for appropriate patient selection [11] - The company anticipates that the majority of revenue in 2025 will still come from enterprise health, but expects increasing contributions from personal health products [15] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the impact of economic uncertainties on capital budgets, particularly in Q1, but expressed optimism about the pipeline and future contributions from personal health products [10][27] - The management team believes that the operational improvements and cost controls will support gross margins as revenues expand [29] Other Important Information - The company is navigating complexities in coding, coverage, and payment to enhance access to its exoskeleton technology for individuals with mobility challenges [13] - The partnerships with National Seating and Mobility and Bionic P and O are expected to broaden access to the Ekso Indigo Personal across the U.S. [15][36] Q&A Session Summary Question: How should investors think about where the patients will fall this year in terms of the Indigo Personal? - Management expects that enterprise products will represent 75% to 80% of the business, with solid contributions from personal products growing quarter over quarter [19] Question: Any more color on how things are going with claims submissions? - Management has learned from past claims and believes current submissions are comprehensive with a high probability of success [24] Question: What is the outlook on capital budgeting from IDNs? - Management noted softness in capital budgets in Q1 but expects solid contributions from renewals in 2025 [26] Question: Is the gross margin trending in the right direction? - Management believes that operational improvements will allow for higher gross margins as revenue increases [29]
Ekso Bionics(EKSO) - 2025 Q1 - Earnings Call Transcript
2025-05-05 21:32
Financial Data and Key Metrics Changes - The company recorded revenue of $3.4 million in Q1 2025, down from $3.8 million in the same period of 2024, attributed to capital budget impacts from certain inpatient rehabilitation facilities related to the EksoNR enterprise health product [7] - Gross profit for Q1 was $1.8 million, representing a gross margin of approximately 54%, compared to a gross profit of $2 million and a gross margin of 52% for Q1 2024 [8] - Operating expenses for Q1 2025 were $5.3 million, essentially unchanged from $5.2 million in Q1 2024 [8] - The net loss applicable to common stockholders for Q1 2025 was $2.9 million, or $0.12 per share, compared to a net loss of $3.4 million, or $0.20 per share, in Q1 2024 [8] - As of March 31, 2025, the company had cash and restricted cash of $8.1 million, up from $6.5 million at the end of 2024 [9] Business Line Data and Key Metrics Changes - The primary end market for the company's exoskeleton technology is healthcare, with two segments: enterprise health and personal health [6] - The legacy enterprise health products, mainly the EksoNR device, faced revenue declines due to budget impacts, while the Ekso Indigo personal device saw good growth [10] - The company developed a pipeline of over 35 Medicare beneficiaries qualified for the Ekso Indigo Personal in 2025, a 37% increase from the previous quarter [12] Market Data and Key Metrics Changes - The company experienced softness in the legacy enterprise business in Q1 due to customers' capital budgets being impacted by macroeconomic uncertainties [10] - There is a strong pipeline in the enterprise business, but budget constraints have temporarily affected purchases [27] Company Strategy and Development Direction - The company is focusing on building a scalable go-to-market strategy for the Ekso Indigo Personal, leveraging partnerships with distribution networks [14] - The engagement with Priya Healthcare and the addition of Bionic P and O as distributors are expected to broaden access to the Ekso Indigo Personal device [15] - The company anticipates that the majority of revenue in 2025 will still come from enterprise health, but expects increasing contributions from personal health products [15] Management's Comments on Operating Environment and Future Outlook - Management noted that while there is uncertainty in capital budgets, they expect solid contributions from enterprise health in 2025 due to upcoming renewals [26] - The company is preparing for potential longer-term impacts from budget constraints but remains optimistic about its pipeline and market access capabilities [27] - Management believes that gross margins can improve as revenues expand, supported by effective cost controls [29] Other Important Information - The company operates as one reportable segment with a focus on healthcare, specifically targeting individuals with physical disabilities [6] - The management team emphasized the importance of navigating the complexities of coding, coverage, and payment to enhance access to their products [13] Q&A Session Summary Question: How should investors think about where the patients will fall this year in terms of the Indigo Personal? - Management expects that enterprise products will represent 75% to 80% of the business, with solid contributions from personal products growing quarter over quarter [19] Question: Any more color on how things are going with claims submissions? - Management has learned from past claims and believes they have a strong understanding of what constitutes a successful claim, although definitive criteria from CMS are still pending [23][24] Question: What is the outlook on capital budgeting from IDNs? - Management noted softness in capital budgets in Q1 but expects solid contributions from renewals in 2025 [26][27] Question: Can gross margins continue to improve? - Management believes that with effective cost controls and increased volume, gross margins can improve as revenues expand [29]
Ekso Bionics(EKSO) - 2025 Q1 - Earnings Call Transcript
2025-05-05 20:30
Financial Data and Key Metrics Changes - The company recorded revenue of $3.4 million in Q1 2025, down from $3.8 million in Q1 2024, attributed to capital budget impacts from certain inpatient rehabilitation facilities related to the EksoNR enterprise health product [7] - Gross profit for Q1 was $1.8 million, representing a gross margin of approximately 54%, compared to a gross profit of $2 million and a gross margin of 52% for the same period in 2024 [8] - Operating expenses for Q1 2025 were $5.3 million, essentially unchanged from $5.2 million in Q1 2024 [9] - Net loss applicable to common stockholders for Q1 2025 was $2.9 million or $0.12 per share, compared to a net loss of $3.4 million or $0.20 per share in Q1 2024 [9] - Cash and restricted cash as of March 31, 2025, was $8.1 million, up from $6.5 million at the end of 2024 [10] Business Line Data and Key Metrics Changes - The enterprise health segment saw a reduction in revenue, while the Ekso Indigo Personal experienced good growth, indicating a shift in revenue contributions [11] - The company has developed a pipeline of over 35 Medicare beneficiaries qualified for the Ekso Indigo Personal in 2025, a 37% increase from the previous quarter [13] Market Data and Key Metrics Changes - The company noted softness in the legacy enterprise business due to capital budget impacts from customers reacting to macroeconomic uncertainties [11] - The regulatory change by CMS in Q2 2024 created significant opportunities for the Ekso Indigo Personal, removing barriers for Medicare enrollees with spinal cord injuries [11] Company Strategy and Development Direction - The company is focusing on building a scalable go-to-market strategy for the Ekso Indigo Personal, leveraging partnerships with Priya Healthcare and Bionic P and O to enhance market access [12][14] - The majority of revenue in 2025 is expected to still come from enterprise health, but significant contributions from personal health products are anticipated as the year progresses [16] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the growing pipeline of Medicare beneficiaries and the potential for increased contributions from personal health products throughout 2025 [17] - There are concerns about the impact of economic uncertainties on capital budgets, particularly for inpatient rehabilitation facilities, which could affect future sales [27] Other Important Information - The company has engaged with National Seating and Mobility as an exclusive distributor for the Ekso Indigo Personal within the U.S. Complex Rehabilitation Technology industry [14] - The partnerships with distribution networks are expected to enhance the company's ability to process claims and improve operational efficiency [39][41] Q&A Session Summary Question: How should investors think about where the patients will fall this year in terms of the Indigo Personal? - Management expects that enterprise products will represent 75% to 80% of the business, with solid contributions from personal products growing quarter over quarter [20] Question: Any more color on how things are going with claims submissions? - Management believes they have a strong understanding of what constitutes a solid claim and that current submissions have a high probability of success [24] Question: What is the outlook on capital budgeting from IDNs? - Management noted that while there was softness in Q1, they expect solid contributions from IDNs in 2025 as many renewals are on track [26] Question: Is the current gross margin a new baseline? - Management believes that with continued operational improvements, gross margins can be maintained or improved as revenues expand [29]
Ekso Bionics(EKSO) - 2025 Q1 - Quarterly Report
2025-05-05 20:08
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______ Commission File Number: 001-37854 Ekso Bionics Holdings, Inc. (Exact name of registrant as specified in its charter) Nevada 99-0367049 ...
Ekso Bionics(EKSO) - 2025 Q1 - Quarterly Results
2025-05-05 20:06
Exhibit 99.1 Ekso Bionics Announces First Quarter 2025 Financial Results SAN RAFAEL, Calif., May 5, 2025 (GLOBE NEWSWIRE) -- Ekso Bionics Holdings, Inc. (Nasdaq: EKSO) ("Ekso Bionics" or the "Company"), an industry leader in exoskeleton technology for medical and industrial use, today reported financial results for the three months ended March 31, 2025. Recent Highlights and Accomplishments "Over the past few weeks, we have significantly expanded access to Ekso Indego Personal via potentially transformative ...
Ekso Bionics Reports First Quarter 2025 Financial Results
Globenewswire· 2025-05-05 20:05
Core Viewpoint - Ekso Bionics Holdings, Inc. reported its financial results for the first quarter of 2025, highlighting a decrease in revenue primarily due to lower sales of legacy devices, while also noting significant partnerships that may enhance future growth in the Personal Health products segment [1][4][11]. Financial Performance - The company recorded revenue of $3.4 million for the quarter ended March 31, 2025, down from $3.8 million in the same period in 2024, mainly due to lower sales of legacy EksoNR devices, although sales of Ekso Indego Personal devices increased [4]. - Gross profit for the first quarter was $1.8 million, with a gross margin of approximately 53.5%, compared to $2.0 million and a gross margin of 51.9% in the prior year, driven by cost savings in the supply chain [5]. - Sales and marketing expenses decreased to $1.7 million from $1.8 million year-over-year, attributed to lower headcount and travel expenses [6]. - Research and development expenses were $1.0 million, down from $1.1 million in the previous year, mainly due to reduced use of product development consultants [7]. - General and administrative expenses increased to $2.6 million from $2.3 million, primarily due to an impairment loss of an intangible asset and higher legal and audit costs [8]. - The net loss applicable to common stockholders was $2.9 million, or $0.12 per share, compared to a net loss of $3.4 million, or $0.20 per share, in the same quarter of 2024 [9]. Cash Flow and Position - The company used $2.0 million of net cash in operations for the first quarter of 2025, a decrease from $3.5 million in the same period in 2024 [9]. - As of March 31, 2025, the company had cash and restricted cash totaling $8.1 million, an increase from $6.5 million at the end of 2024 [9][16]. Strategic Partnerships - Ekso Bionics has formed partnerships with National Seating & Mobility (NSM) and Bionic Prosthetics & Orthotics Group (Bionic P&O), which are expected to enhance access to the Ekso Indego Personal device in the complex rehabilitation technology and orthotics and prosthetics markets, respectively [3][11].
Ekso Bionics to Report First Quarter 2025 Financial Results on May 5 – Conference Call to Follow
Globenewswire· 2025-04-28 20:30
Core Insights - Ekso Bionics Holdings, Inc. is set to release its financial and business results for Q1 2025 on May 5, 2025, after market close [1] - A conference call will be held at 1:30 p.m. PT / 4:30 p.m. ET to discuss the results and recent business developments [1] Company Overview - Ekso Bionics is a leading developer of exoskeleton solutions aimed at enhancing human strength, endurance, and mobility in both medical and industrial applications [3] - The company focuses on improving health and quality of life through advanced robotics that restore and amplify human function [3] - Ekso Bionics is unique in offering technologies that assist individuals with paralysis to stand and walk, as well as enhancing capabilities in various job sites globally [3] - The company is headquartered in the San Francisco Bay Area and is publicly traded on the Nasdaq under the symbol "EKSO" [3]
Bionic P&O Chosen as First Distributor of Ekso Indego® Personal Within the Orthotics & Prosthetics Industry
Newsfilter· 2025-04-23 12:16
Core Insights - Ekso Bionics Holdings, Inc. has appointed Bionic Prosthetics & Orthotics Group LLC as a non-exclusive distributor for its Ekso Indego® Personal device, enhancing its market reach in the orthotics and prosthetics industry [1][3] Company Overview - Ekso Bionics is a leader in exoskeleton technology, focusing on medical and industrial applications, with a mission to improve health and quality of life through advanced robotics [4] - The company is headquartered in the San Francisco Bay Area and is listed on the Nasdaq Capital Market under the symbol "EKSO" [4] Product Details - The Ekso Indego Personal is a lightweight, portable lower extremity powered exoskeleton designed for individuals with spinal cord injuries, enabling them to stand and walk independently [2] - It features a modular quick connect design for ease of use, allowing users to put on and take off the device without assistance [2] - The device has shown to help users achieve faster walking speeds, enhancing their independence in the community [2] Strategic Partnership - The collaboration with Bionic P&O is seen as a strategic move to leverage their expertise in the orthotics and prosthetics market, which is crucial for the successful marketing and distribution of the Ekso Indego Personal [3] - Bionic P&O, founded in 2007, operates across 12 states and is fully accredited, employing certified practitioners in various specialties [5] Market Impact - The partnership aims to empower individuals with spinal cord injuries to pursue their goals of walking again, potentially transforming the orthotics and prosthetics industry [3]
Bionic P&O Chosen as First Distributor of Ekso Indego® Personal Within the Orthotics & Prosthetics Industry
Globenewswire· 2025-04-23 12:16
Alliance marks Ekso Bionics’ first entrance into the O&P spaceSAN RAFAEL, Calif., April 23, 2025 (GLOBE NEWSWIRE) -- Ekso Bionics Holdings, Inc. (Nasdaq: EKSO) (the “Company”), an industry leader in exoskeleton technology for medical and industrial use, today announced that it has named Bionic Prosthetics & Orthotics Group LLC (“Bionic P&O”), a leading national provider of prosthetic and orthotic solutions, as a non-exclusive Ekso Indego® Personal device distributor. Ekso Indego Personal is a wearable lower ...
Ekso Bionics(EKSO) - 2024 Q4 - Earnings Call Transcript
2025-03-04 02:44
Financial Data and Key Metrics Changes - The company recorded revenue of $5.1 million in Q4 2024, an increase of 5% compared to $4.8 million in Q4 2023 [13] - Gross profit for Q4 was $2.7 million, representing a gross margin of approximately 53%, up from a gross profit of $2.4 million and a gross margin of 49% in Q4 2023 [13] - Operating expenses for Q4 2024 were $4.9 million, a 15% decrease from $5.8 million in Q4 2023 [14] - Net loss applicable to common stockholders for Q4 was $3.4 million or $0.14 per share, compared to a net loss of $3.2 million or $0.22 per share in Q4 2023 [14] - Full year 2024 revenue was $17.9 million, down from $18.3 million in 2023 [15] - Full year gross profit was $9.5 million with a gross margin of approximately 53%, compared to $9.1 million and a gross margin of 50% in 2023 [17] - Full year net loss was $11.3 million or $0.56 per share, compared to a net loss of $15.2 million or $1.10 per share in 2023 [19] Business Line Data and Key Metrics Changes - The primary revenue source is from the sale and subscription of the Ekso NR device and the Ekso Indigo therapy device [10] - The company is focusing on expanding the personal health product line, particularly the Ekso Indigo Personal, which is expected to contribute to revenue growth starting in 2025 [31] Market Data and Key Metrics Changes - The company is experiencing growth in the APAC region, particularly with the Ekso NR and Indigo therapy devices [42] - Exceptional growth was noted in Europe, especially within the French hospital systems [44] Company Strategy and Development Direction - The company is shifting its focus to a scalable go-to-market strategy for the Ekso Indigo Personal, supported by partnerships with reimbursement services and market access firms [25][30] - Engaging Priya Healthcare for reimbursement services is seen as a critical move to navigate the complexities of Medicare claims [28] - The company aims to broaden access to the Ekso Indigo Personal through partnerships with National Seating and Mobility and other durable medical equipment suppliers [29][72] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in securing multi-unit orders in 2025 as procurement cycles return to normal for larger institutions [38] - The company anticipates meaningful growth in claims submissions for Medicare beneficiaries in 2025, with a current pipeline of about twenty-five individuals [39] - Management is optimistic about the overall commercial traction expected in both enterprise and personal markets in 2025 [76] Other Important Information - The company had cash and restricted cash of $6.5 million as of December 31, 2024 [19] Q&A Session Summary Question: Confidence in securing multi-unit orders and volume of Indigo claims - Management expects more multi-unit orders in 2025 and plans to submit claims for about twenty-five individuals this year [38][39] Question: Growth trajectory in Europe and APAC regions - Management projects continued growth in APAC and a return to normal growth rates in Europe after exceptional growth in 2024 [42][44] Question: Patient interest generated via marketing activities - A large number of leads are being processed, with a focus on individuals with spinal cord injuries who meet health requirements [50] Question: Relationship with National Seating and Mobility - The partnership aims to leverage NSM's expertise in the complex rehabilitation technology industry to enhance distribution and reimbursement processes [70]