Ekso Bionics Holdings, Inc. Q4 FY2021 Earnings Call

· Earnings call transcript and AI-powered summary

Overall Highlights

  • Record Q4 2021 revenue of $4.1M, up 81% year-over-year (vs. $2.3M in Q4 2020) and up 34% sequentially.
  • Full-year 2021 revenue reached $11.2M, a 27% increase over 2020 ($8.9M), driven by normalization of business conditions post COVID-19 disruptions.
  • Leadership transitions: Steven Sherman appointed CEO; Scott Davis appointed President & COO. Both stressed a focus on operational efficiency, growth acceleration, and shareholder value.

Segment Performance

EksoHealth (Medical)

  • Q4 revenue: $3.4M.
  • 30 EksoNR bookings, continuing the strong multi-unit order trend from Q3.
  • Completed a six-unit order, the largest network customer order to date.
  • Network customers represented 69% of U.S. bookings in 2021 (vs. 24% in 2020), showing significant penetration improvement.
  • Subscription model gaining traction with $1.2M in contracted, unrecognized revenue.
  • Strong international contributions:
    • Europe delivered consistent results; received largest single order from partner Technomex (Poland).
    • APAC had a strong quarter with continued growth potential.

EksoWorks (Industrial)

  • 84% full-year revenue growth in 2021.
  • Q4 2021 was the strongest quarter of the year for industrial sales.

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Operator: Greetings. Welcome to the Ekso Bionics Fourth Quarter 2021 Financial Results Conference Call. At this time, all participants are in a listen-only mode. The 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 Steinberg: Thank you, operator. And thank you all for participating in today's call. Joining me from Ekso Bionics are Steven Sherman, President and Chief Executive Officer; Scott Davis, President and Chief Operating Officer; Jack Glenn, Chief Financial Officer; and Bill Shaw, Chief Commercial Officer. Earlier today, Ekso Bionics released financial results for the quarter and year ended December 31, 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 statements regarding our business strategy, future financial or our expectations of the regulatory landscape governing our products and operations are

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