Ekso Bionics Holdings, Inc. Q4 FY2020 Earnings Call

· Earnings call transcript and AI-powered summary

Quarter Overview

  • Q4 2020 revenue was 2.3 million dollars, down from 3.7 million dollars in Q4 2019, reflecting continued COVID-related pressure on hospital budgets and sales cycles.
  • Despite lower revenue, gross margin improved to approximately 60 percent from 50 percent in Q4 2019, driven by higher selling prices, lower production costs, and the introduction of the EVO industrial product.
  • EksoNR bookings in the quarter totaled 14 units, including subscription units.
  • The company saw solid traction with its subscription model, which helped shorten sales cycles and reduce budget barriers for hospital customers.
  • Industrial segment momentum grew with early interest in EVO, targeting construction and food processing customers.

Full-Year 2020 Performance

  • Full-year revenue was 8.9 million dollars, down from 13.9 million dollars in 2019, largely due to pandemic disruptions.
  • Gross margin improved to 57 percent for 2020, compared to 49 percent in 2019.
  • Operating expenses were reduced by 22 percent, falling to 18.4 million dollars from 23.4 million dollars in 2019, reflecting cost controls implemented early in the pandemic.
  • Net loss was 15.8 million dollars compared to 12.1 million dollars in 2019, largely due to warrant liability revaluation.

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Operator: Greetings, and welcome to Ekso Bionics' Fourth Quarter 2020 Financial Results Call. [Operator Instructions] As a reminder, this conference is being recorded. It is now my pleasure to introduce Matt Steinberg, of Lazar Finn Partners. Thank you. 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 and full year ended December 31, 2020. 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 diff

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