Ekso Bionics Holdings, Inc. Q3 FY2020 Earnings Call

· Earnings call transcript and AI-powered summary

Quarter Overview

  • Q3 2020 revenue was 2.9 million dollars, reflecting a 28 percent increase over Q2 2020, and representing 90 percent of Q3 2019 revenue levels.
  • The company reported strong customer engagement despite COVID‑19 impacts and continues to see most delayed orders rather than cancellations.
  • Ekso highlighted ongoing adoption of its EksoNR medical exoskeleton and strong early traction for its new industrial product, EVO.

Medical Segment Highlights

  • 22 EksoNR bookings were recorded in Q3, including 17 new unit orders.
  • Ekso Health revenue reached approximately 2.7 million dollars, up from 2.1 million dollars in Q2 2020 but slightly below the 3 million dollars recorded in Q3 2019.
  • Sales cycles are improving due to flexible acquisition models such as rental and subscription, although cycles remain affected by COVID‑related challenges.
  • Key customer updates:
    • Vibrant Healthcare pilot program resuming in Q4 after delays.
    • Kindred Healthcare expanding engagement with a subscription program.
    • Kessler Foundation purchased an additional EksoNR for clinical and research initiatives.
  • Ekso remains the only exoskeleton FDA‑cleared for acquired brain injury therapy.

Industrial Segment Highlights

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Operator: Greetings, and welcome to Ekso Bionics Third Quarter 2020 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] As a reminder, this conference is being recorded. For opening remarks I would now like to turn the call over to David Carey of Lazar Partners. Thank you, David. You may begin. David Carey: 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 September 30, 2020. A copy of the press release is available on the company's Web site. 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 law, 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 est

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