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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