Ekso Bionics Holdings, Inc. Common Stock Q3 FY2023 Earnings Call

· Earnings call transcript and AI-powered summary

Ekso Bionics Q3 2023 Earnings Summary

  • Revenue: $4.6 million in Q3 2023, up 38% from $3.3 million in Q3 2022. Year-to-date (nine months ended Sept 30, 2023): $13.4 million, up 43% from $9.4 million in the same period of 2022.
  • EksoHealth Devices Sold: 41 devices (EksoNR and Indego lines), including a 10-unit EksoNR order from a large U.S. integrated delivery network, 6 EksoNR units in Europe (multi-unit distributor order), and a 3-unit Indego personal order in APAC.
  • Gross Profit & Margin: $2.5 million (53% margin) in Q3 2023 vs. $1.7 million (51% margin) in Q3 2022. YTD gross profit: $6.7 million (50% margin) vs. $4.5 million (48% margin).
  • Operating Expenses: $5.4 million in Q3 2023 vs. $5.3 million in Q3 2022 (flat despite higher headcount from HMC acquisition). YTD: $18.4 million vs. $15.7 million.
  • Net Loss: $3.4 million ($0.24 per share) in Q3 2023 vs. $4.3 million ($0.33 per share) in Q3 2022. YTD net loss: $12.0 million ($0.88 per share) vs. $11.9 million ($0.92 per share).
  • Operating Loss Improvement: Narrowed by $700,000 year-over-year in Q3 due to efficiency and cost focus.
  • Cash Position: $9.9 million as of Sept 30, 2023. Cash used in operations YTD: $10.5 million (down from $11.0 million).

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Operator: Greetings, and welcome to the Ekso Bionics Quarter Three 2023 Financial Results Call. At this time all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. (Operator Instructions). As a reminder, this conference is being recorded. I would now like to turn the conference over to your host, Matt Steinberg of FinPartners. Please go ahead. 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 third quarter of 2023. 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 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 an

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