Ekso Bionics Holdings, Inc. Q2 FY2021 Earnings Call

· Earnings call transcript and AI-powered summary

Quarter Overview

  • Ekso Bionics reported Q2 2021 revenue of 2.2 million dollars, up 16 percent from Q1 2021 but slightly below the 2.3 million dollars reported in Q2 2020. Management noted that year-over-year comparisons reflect the shift to a subscription model, which defers revenue across contract periods.
  • Total EksoNR bookings reached 20 units in Q2, including 11 subscription bookings. Both figures increased compared to Q1, indicating momentum in customer adoption.
  • Onsite demonstrations returned to pre-pandemic levels, supporting increased sales activity. Management remains cautious given potential COVID-19 variants and emphasized readiness to switch to virtual engagement if needed.

Medical Segment Performance (EksoHealth)

  • EksoHealth delivered approximately 1.9 million dollars in revenue for Q2 2021.
  • The 12-month rolling subscription renewal rate remained strong at 80 percent.
  • Contracted but unrecognized subscription revenue rose to more than 1.3 million dollars, up from around 700 thousand dollars in Q1, reflecting growth in multi-unit subscription deals.
  • Key customer developments included:
    • Expansion of partnership with Kindred Healthcare into long-term acute care with multi-unit orders at four Florida sites.

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Operator: Greetings. Welcome to the Ekso Bionics Second Quarter 2021 Financial Results Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions]. Please note, this conference is being recorded. I will now turn the conference over to your host, Matt Steinberg. Thank you. You may begin. Matt Steinber: Thank you, operator, and thank you all for participating in today's call. Joining me from Ekso Bionics are Jack Peurach, President and Chief Executive Officer; Jack Glenn, Chief Financial Officer; and Bill Shaw, Chief Commercial Officer. Earlier today, Ekso Bionics released financial results for the quarter ended June 30, 2021. A copy of the press release is available on the company's website. Before we begin, I would 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 contained in this call that are not statements of historical facts should be deemed to be forward-looking statements. All forward-looking statements, including our future financial or operational expectations or our expectations of the regulatory landscape governing our products and operations, are based upon management's current estimates and various assumptions. These statem

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