Ekso Bionics Holdings, Inc. Q2 FY2022 Earnings Call

· Earnings call transcript and AI-powered summary

Quarter Overview

  • Ekso Bionics reported strong year-over-year revenue growth of 57%, generating $3.5M in Q2 2022 compared to $2.2M in Q2 2021. The increase was driven primarily by higher volumes of EksoNR device sales.
  • The company highlighted strong commercial execution, increased demand from inpatient rehabilitation networks, and growing international traction.
  • FDA 510(k) clearance for EksoNR use in Multiple Sclerosis (MS) significantly expands the company’s total addressable market.

Key Business Developments

  • EksoNR:
    • 17 EksoNR units booked in Q2 (majority capital purchases).
    • EksoHealth revenue reached $3.2M; momentum improving as capital budgets reopen post‑COVID.
    • Cumulative conversion and renewal rate remains strong at 82% with $1.9M of unrecognized revenue under subscription contracts.
    • First exoskeleton device with FDA clearance for MS rehabilitation, expanding its usage into both inpatient and outpatient settings.
  • EksoWorks:
    • Revenue of approximately $237K in Q2.
    • Growing interest from automotive, aerospace, and solar energy sectors.
    • Company continues to pursue large customers with longer sales cycles.

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Operator: Hello, and welcome to the Ekso Bionics Q2 2022 Financial Results Conference Call. [Operator Instructions] As a reminder, this conference is being recorded. It's now my pleasure to turn the call over to David Carey. Please go ahead. David Carey: Thank you, operator, and thank you all for participating in today's call. Joining me from Ekso Bionics are Steven Sherman, Chairman and Chief Executive Officer; Scott Davis, President and Chief Operating Officer; and Jerome Wong, Interim Chief Financial Officer. Earlier today, Ekso Bionics released financial results for the second quarter of 2022. 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 and various assumptions. These statements involve material risks and uncertainties that could cause actual results or events to mater

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