Ekso Bionics Holdings, Inc. Q3 FY2023 Earnings Call

· Earnings call transcript and AI-powered summary

Quarter Highlights

  • Revenue grew to 4.6 million dollars, up 38 percent year over year compared to 3.3 million dollars in Q3 2022.
  • EksoHealth revenue increased by 1.2 million dollars, while EksoWorks revenue grew by 0.1 million dollars.
  • Gross profit increased 46 percent to 2.5 million dollars, with gross margin expanding to 53 percent versus 51 percent last year.
  • Operating loss improved by 700,000 dollars compared to Q3 2022.
  • Net loss narrowed to 3.4 million dollars, an improvement from 4.3 million dollars in Q3 2022.
  • Company sold or recognized revenue from 41 EksoHealth devices, including EksoNR and Ekso Indego.
  • EksoWorks segment achieved record quarterly EVO unit sales driven by new volume pricing and contract manufacturing in Malaysia.
  • Inventory decreased quarter over quarter for the first time since 2020 due to supply chain normalization.

Strategic and Operational Developments

  • Strong multi-unit order activity, including a 10-unit EksoNR purchase from a major U.S. integrated delivery network.
  • Deepening relationship with the U.S. Department of Veterans Affairs, especially for the Ekso Indego personal and therapy devices.
  • International strength:
    • Europe: Six-unit EksoNR order from a major distributor.

Continue Reading

Unlock the full AI-powered summary with key highlights, financial performance, and analyst Q&A.

Upgrade to Professional
Operator: Greetings, and welcome to the Ekso Bionics Quarter Three 2023 Financial Results 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. I would now like to turn the conference over to your host, Matt Steinberg of FinPartners. Please go ahead. 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; Jason Jones, Chief Operating Officer; and Jerome Wong, Chief Financial Officer. Earlier today, Ekso Bionics released financial results for the third quarter of 2023. 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 made during this call that are not statements of historical facts should be deemed to be forward looking statements. All forward looking statements, including statements regarding our business strategy, future financial or operational expectations, or our expectations of the regulatory landscape governing our products and operations are based upon management's current estimates an

Continue Reading

Unlock the full earnings call transcript with speaker labels and formatted dialogue.

Upgrade to Professional