Ekso Bionics Holdings, Inc. Q3 FY2021 Earnings Call

· Earnings call transcript and AI-powered summary

Quarter Highlights

  • Q3 2021 revenue reached approximately $3 million, up 38% sequentially from Q2 2021 and slightly above the $2.9 million reported in Q3 2020.
  • EksoHealth recorded 16 EksoNR bookings: 14 capital purchases and 2 subscription agreements. This skew toward capital purchases contrasts with the growing subscription trend seen earlier in the year.
  • Industrial segment revenue more than doubled year-over-year compared to Q3 2020, driven largely by increased adoption of the EVO exoskeleton.
  • The sales pipeline grew across both medical and industrial segments, supported by capital purchase demand, subscription offerings, and expanded evaluations with large customers.

Medical Segment (EksoHealth) Performance

  • EksoHealth generated roughly $2.7 million in revenue for Q3 2021.
  • Rolling 12‑month conversion and renewal rate remained strong at 77%.
  • Contracted but unrecognized revenue under subscriptions reached more than $1.2 million.
  • Network operators accounted for 70% of new U.S. bookings year-to-date versus 24% for all of 2020, showing meaningful traction in this strategic customer group.
  • Subscription model continues to gain importance among large network partners, who acquired 80% of their year-to-date units via subscription.

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Operator: Greetings. Welcome to the Ekso Bionics Third Quarter 2021 Financial Results Conference Call. [Operator Instructions]. Please note, this conference is being recorded. I will now turn the conference over to your host, Matt Steinberg. You may begin. Matt Steinberg: 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, 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 statements involve material risks and uncertainties that could cause actual results or events to materially differ from those anticipa

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