Ekso Bionics Holdings, Inc. Common Stock Q3 FY2022 Earnings Call

· Earnings call transcript and AI-powered summary

Date of Call: November 3, 2022 | Participants: Steven Sherman (Chairman & CEO), Scott Davis (President & COO), Jerome Wong (CFO)

Key Highlights

  • Record 33 EksoNR unit bookings in Q3 2022 (best quarter ever), majority via capital purchases; included 6 multi-unit orders from IDNs like Kindred Healthcare and Vibra Healthcare.
  • EksoHealth revenue up 21% year-over-year, driven by strong demand for EksoNR exoskeletons and new international orders in EMEA and APAC (including multi-unit deals in Europe and 6-unit order in Indonesia).
  • FDA clearance for EksoNR in multiple sclerosis (MS) patients; first exoskeleton with this indication; early patient adoption and educational webinars underway (e.g., Cleveland Clinic case studies showing posture, strength, and endurance improvements).
  • EksoWorks industrial segment shifting focus to large-volume customers in construction, manufacturing, green energy, automotive, and aerospace; longer sales cycles but strong pipeline for future share gains.
  • Completed relocation to new San Rafael, CA headquarters/manufacturing facility in August 2022; production now back on track.

Financial Results (Q3 2022 vs Q3 2021)

  • Revenue: $3.3 million vs $3.0 million (+9%), primarily from higher EksoNR device sales volume.

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Operator: Greetings and welcome to Ekso Bionics Third Quarter 2022 Financial Results Call. [Operator Instructions] As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Matt Steinberg with FINN Partners. Thank you, sir. 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, Chairman and Chief Executive Officer; Scott Davis, President and Chief Operating Officer; and Jerome Wong, Chief Financial Officer. Earlier today, Ekso Bionics released financial results for the third 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 law, 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 operating 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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