Ekso Bionics Holdings, Inc. Q4 FY2023 Earnings Call

· Earnings call transcript and AI-powered summary

Key Highlights

  • Record annual revenue of $18.3 million for 2023, up 42% from 2022 ($12.9 million).
  • Q4 2023 revenue of $4.8 million, a 36% increase year-over-year (Q4 2022: $3.6 million).
  • 151 EksoHealth devices sold in 2023, up 51% from 2022.
  • Continued integration of Indego product lines acquired in late 2022, contributing to growth.
  • Launch of new GaitCoach software for EksoNR, with strong initial user feedback.
  • International expansion strengthened, particularly in EMEA and APAC regions.
  • Industrial segment (EksoWorks) improved operationally with new contract manufacturing capacity.

EksoHealth Segment Performance

  • Strong adoption of EksoNR and Indego therapy devices across inpatient rehabilitation facilities.
  • Economic value proposition (higher patient throughput, higher patient volumes) drives multiunit orders and renewals.
  • Growth across North America driven by enterprise customers and integrated delivery networks.
  • International performance improved, including multiunit EksoNR sales in Eastern Europe.

Product & Regulatory Updates

  • GaitCoach software introduced for EksoNR; nearly all surveyed users found it intuitive and helpful for clinical outcomes.

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Operator: Greetings, and welcome to the Ekso Bionics' Fourth Quarter 2023 Financial Results Conference Call. At this 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. It is now my pleasure to introduce your host, Matt Steinberg, 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 Scott Davis, Chief Executive Officer; Jerome Wong, Chief Financial Officer; and Jason Jones, Chief Operating Officer. Earlier today, Ekso Bionics released financial results for the quarter and year ended December 31, 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 manageme

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