Ekso Bionics Holdings, Inc. Q1 FY2023 Earnings Call

· Earnings call transcript and AI-powered summary

Quarter Overview

  • Record quarterly revenue of $4.1 million, up 61% compared to Q1 2022 revenue of $2.6 million.
  • Growth driven by strong commercial execution and initial contributions from the newly acquired Indego product line.
  • Company continues expanding its footprint across the continuum of care, from post-acute facilities to home and community environments.

Business Segment Performance

EksoHealth
  • Generated $4 million in revenue for Q1 2023.
  • Booked 23 EksoHealth devices during the quarter.
  • Included the company’s second-largest multi-unit EksoNR order.
  • Strong pipeline with an 81% cumulative conversion and renewal rate.
  • Approximately $1.4 million in contracted, unrecognized subscription revenue.
International Growth
  • EMEA revenue grew 67% year over year.
  • Booked the first Ekso Indego personal device in Europe.
  • Distribution network expanded through the HMC acquisition.
Human Motion Control (HMC) / Indego Integration
  • Integration progressing smoothly with early revenue contribution.
  • Indego is expected to become a meaningful growth driver in 2023.
  • Acquisition expands product portfolio into home-use and O&P markets.

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Operator: Greetings, and welcome to the Ekso Bionics First Quarter 2023 Financial Results Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions]. And as a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Matt Steinberg, FINN Partners. Thank you, sir. You may begin. Matt Steinberg: Thank you, operator. And thank you all for participating in today's call. Joining me from Ekso Bionics are Scott Davis, Chief Executive Officer; Jerome Wong, Chief Financial Officer; and Jason Jones, Chief Operating Officer. Today, Ekso Bionics released financial results for the quarter ended March 31, 2023. A copy of the press release is available on the company's website. Before we begin, I'd like to remind you that management will make statements during this call that include forward-looking statements within the meaning of the federal securities laws, which are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Any statements made during this call that are not statements of historical fact should be deemed to be forward-looking statements. All forward-looking statements, including statements regarding our business strategy, future financial or operating expectations, or our expectations of the regulatory landscape governing our products and operations are based upon management's current est

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