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Ekso Bionics Reports Fourth Quarter and Full-Year 2024 Financial Results
EKSOEkso Bionics(EKSO) GlobeNewswire·2025-03-03 21:05

Core Viewpoint - Ekso Bionics Holdings, Inc. reported record revenue for the fourth quarter of 2024, with a focus on expanding patient access and increasing demand for its exoskeleton devices [2][11]. Summary of Fourth Quarter 2024 Financial Results - The company recorded revenue of 5.1millionforQ42024,a55.1 million for Q4 2024, a 5% increase from 4.8 million in Q4 2023 [3]. - Gross profit for Q4 2024 was 2.7million,up152.7 million, up 15% from the previous year, resulting in a gross margin of approximately 53%, compared to 49% in Q4 2023 [4]. - Sales and marketing expenses decreased to 1.9 million from 2.0millioninQ42023,attributedtolowerheadcountanddiscretionarypayroll[5].−ResearchanddevelopmentexpensesforQ42024were2.0 million in Q4 2023, attributed to lower headcount and discretionary payroll [5]. - Research and development expenses for Q4 2024 were 845,000, down from 1.3millioninQ42023,duetoreduceddiscretionarypayrollandconsultantcosts[5].−Generalandadministrativeexpensesfellto1.3 million in Q4 2023, due to reduced discretionary payroll and consultant costs [5]. - General and administrative expenses fell to 2.2 million from 2.5millioninQ42023,primarilyduetolowerdiscretionarypayroll[6].−ThenetlossforQ42024was2.5 million in Q4 2023, primarily due to lower discretionary payroll [6]. - The net loss for Q4 2024 was 3.4 million, or 0.14pershare,comparedtoanetlossof0.14 per share, compared to a net loss of 3.2 million, or 0.22pershare,inQ42023[6].SummaryofFullYear2024FinancialResults−Forthefullyear2024,thecompanyreportedrevenueof0.22 per share, in Q4 2023 [6]. Summary of Full Year 2024 Financial Results - For the full year 2024, the company reported revenue of 17.9 million, a 2% decrease from 18.3millionin2023[8].−Grossprofitforthefullyearwas18.3 million in 2023 [8]. - Gross profit for the full year was 9.5 million, with a gross margin of approximately 53%, compared to 9.1millionanda509.1 million and a 50% margin in 2023 [9]. - Sales and marketing expenses for the full year decreased to 7.3 million from 8.5millionin2023[10].−Researchanddevelopmentexpensesforthefullyearwere8.5 million in 2023 [10]. - Research and development expenses for the full year were 3.9 million, down from 5.0millionin2023[12].−Generalandadministrativeexpensesforthefullyearwere5.0 million in 2023 [12]. - General and administrative expenses for the full year were 8.8 million, compared to 10.7millionin2023[13].−Thenetlossforthefullyearwas10.7 million in 2023 [13]. - The net loss for the full year was 11.3 million, or 0.56pershare,a250.56 per share, a 25% improvement from a net loss of 15.2 million, or 1.10pershare,in2023[13].−Thecompanyused1.10 per share, in 2023 [13]. - The company used 9.8 million of net cash in operations for the full year, down from 12.1 million in 2023 [14]. Additional Highlights - The company named National Seating & Mobility as its exclusive distributor for the Ekso Indego Personal device in the U.S. complex rehabilitation technology industry [11]. - As of December 31, 2024, the company had cash and restricted cash of 6.5 million [14].