Ekso Bionics Holdings, Inc. Q2 FY2023 Earnings Call

· Earnings call transcript and AI-powered summary

Quarter Overview

  • Ekso Bionics reported strong Q2 2023 results, including record quarterly EksoHealth bookings and 36 percent year-over-year revenue growth.
  • Management highlighted progress in expanding its product portfolio across the full continuum of care: post-acute, outpatient, and home/community use.
  • Integration of Human Motion Control (HMC) remains on track, expanding production capabilities and product reach.

Key Financial Results (Compared to Q2 2022)

  • Revenue: 4.7 million dollars, up from 3.5 million dollars (increase of 36 percent).
  • EksoHealth revenue increased by 1.5 million dollars; EksoWorks revenue decreased by 200,000 dollars due to transition delays.
  • Gross profit: 2.3 million dollars, up from 1.6 million dollars (increase of 37 percent). Gross margin improved from 47 percent to 48 percent due to lower device costs.
  • Operating expenses: 6.5 million dollars, up from 4.9 million dollars, driven by HMC integration, severance, and higher marketing spend.
  • Net loss: 4.2 million dollars versus 3 million dollars in Q2 2022.

First Half 2023 Highlights (Compared to First Half 2022)

  • Revenue: 8.8 million dollars, up from 6 million dollars (increase of 46 percent).

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Operator: Hello, and welcome to the Ekso Bionics Q2 2023 Financial Results Conference Call and Webcast [Operator Instructions]. As a reminder, this conference is being recorded. It's now my pleasure to turn the call over to your host, Matt Steinberg with FINN Partners. Please go ahead, Matt. 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 second quarter of 2023. A copy of the press release is available on the company's Web site. Before we begin, I would like to remind you that management will make statements during this call that will 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 r

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