Ekso Bionics Holdings, Inc. Q1 FY2024 Earnings Call
· Earnings call transcript and AI-powered summary
Quarter Overview
- Q1 2024 revenue was 3.8 million USD, a slight decline from 4.1 million USD in Q1 2023.
- 29 EksoHealth devices sold in the quarter; sales were impacted by normal seasonality and IDN procurement timing.
- Backlog increased by approximately 1 million USD, expected to be recognized during 2024.
- International performance, especially in EMEA, showed strong momentum driven by adoption of robotics in French neurorehabilitation.
Key Business Developments
- CMS finalized a Medicare reimbursement determination for Ekso Indego Personal at 91,031 USD per device, effective April 1, 2024.
- The company expects quarter-over-quarter growth in its Personal Health business following this reimbursement decision.
- Ekso plans to leverage its network of over 260 U.S. rehab centers to expand certified training locations.
- French public health system adoption of robotics significantly contributed to EMEA strength.
Segment Highlights
- EksoHealth:
- Focus remains on expanding IDN relationships to increase multi-unit capital deals.
- Clinical and economic benefits of EksoNR and Ekso Indego Therapy emphasized in sales strategy.
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