Ekso Bionics Holdings, Inc. Common Stock Q1 FY2022 Earnings Call

· Earnings call transcript and AI-powered summary

Date: April 28, 2022 | Participants: Steven Sherman (CEO), Scott Davis (President & COO), Jack Glenn (CFO)

Financial Performance (Q1 2022 vs Q1 2021)

  • Revenue: $2.6 million, up 34% from $1.9 million. Growth driven by higher EVO sales and recognition of prepaid royalties from license/distribution agreement.
  • Gross Profit: $1.2 million (47% margin), down from 65% margin in Q1 2021. Decline due to higher EksoHealth service costs, product mix changes, and supply chain-driven material cost increases (partially offset by royalties).
  • Operating Expenses: $5.4 million, up from $4.4 million, primarily from higher compensation, severance, and increased R&D product development activities.
  • Net Operating Loss: $4.2 million, widened from $3.1 million loss.
  • Warrant Liabilities Loss: $100,000 (revaluation of 2019-2021 warrants).
  • Cash Position: $36.2 million as of March 31, 2022 (strong balance sheet noted).
  • Cash Used in Operations: $4.2 million in Q1 2022.

EksoHealth Segment

  • Revenue: $1.9 million (year-over-year growth; strong rebound in post-COVID capital purchases).

Continue Reading

Unlock the full AI-powered summary with key highlights, financial performance, and analyst Q&A.

Upgrade to Professional
Disclaimer*: This transcript is designed to be used alongside the freely available audio recording on this page. Timestamps within the transcript are designed to help you navigate the audio should the corresponding text be unclear. The machine-assisted output provided is partly edited and is designed as a guide.: Operator: 00:06 Greetings. Welcome to the Ekso Bionics First Quarter 2022 Financial Results Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions]. Please note, this conference is being recorded. 00:25 I will now turn the call over to your host, Andrew Blazier of Finn Partners. Thank you. You may begin. Andrew Blazier: 00:31 Thank you, Devin 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 Jack Glenn, Chief Financial Officer. Earlier today, Ekso Bionics released financial results for the quarter ended March 31, 2022. A copy of the press release is available on the company's website. 00:58 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

Continue Reading

Unlock the full earnings call transcript with speaker labels and formatted dialogue.

Upgrade to Professional