Ekso Bionics Holdings, Inc. Common Stock Q3 FY2021 Earnings Call

· Earnings call transcript and AI-powered summary

Conference Date: November 2, 2021 | Quarter Ended: September 30, 2021

Financial Highlights

  • Q3 2021 Revenue: $3.0 million, +38% sequentially; vs. $2.9 million in Q3 2020 (modest YoY increase).
  • Q3 2021 Gross Profit: $1.8 million (59% margin), down from 63% margin in Q3 2020 due to higher service parts/labor costs and product mix shifts.
  • Q3 2021 Operating Expenses: $4.6 million vs. $4.2 million in Q3 2020.
  • Q3 2021 Net Operating Loss: $2.8 million vs. $2.4 million in Q3 2020 (driven by higher G&A from increased headcount/compensation).
  • 9-Month 2021 Revenue: $7.2 million vs. $6.6 million in first 9 months of 2020.
  • 9-Month 2021 Gross Profit: $4.3 million (+17% YoY) vs. $3.7 million; gross margin improved to 60% from 56%.
  • 9-Month 2021 Operating Expenses: $13.6 million (-3% YoY) vs. $14.0 million.
  • 9-Month 2021 Net Operating Loss: $9.3 million (improved from $10.3 million loss in 2020).
  • Cash Position: $43.4 million as of September 30, 2021; operating cash use $8.1 million for first 9 months.
  • Warrant Liability Gain: $1.1 million in Q3 2021 vs. $4.5 million gain in Q3 2020.

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Operator: Greetings. Welcome to the Ekso Bionics Third Quarter 2021 Financial Results Conference Call. [Operator Instructions]. Please note, this conference is being recorded. I will now turn the conference over to your host, Matt Steinberg. You may begin. Matt Steinberg: Thank you, operator. And thank you all for participating in today's call. Joining me from Ekso Bionics are Jack Peurach, President and Chief Executive Officer; Jack Glenn, Chief Financial Officer; and Bill Shaw, Chief Commercial Officer. Earlier today, Ekso Bionics released financial results for the quarter ended September 30, 2021. 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 contained in this call that are not statements of historical facts should be deemed to be forward-looking statements. All forward-looking statements, including our 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 materially differ from those anticipa

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