Ekso Bionics Holdings, Inc. Common Stock Q4 FY2021 Earnings Call

· Earnings call transcript and AI-powered summary

Conference Date: February 24, 2022 | Leadership on Call: Steven Sherman (Chairman & CEO), Scott Davis (President & COO), Jack Glenn (CFO), Bill Shaw (Chief Commercial Officer)

Key Financial Highlights

  • Q4 2021 Revenue: $4.1 million, +81% vs. $2.3 million in Q4 2020; +34% sequentially.
  • Q4 2021 Gross Profit: $2.4 million (59% margin) vs. 60% margin in Q4 2020 (slight decline due to higher manufacturing costs).
  • Q4 2021 Operating Expenses: $7.0 million vs. $4.4 million in Q4 2020 (increase driven by business development costs and higher headcount).
  • Q4 2021 Net Operating Loss: $4.6 million vs. $3.0 million in Q4 2020.
  • FY 2021 Revenue: $11.2 million, +27% vs. $8.9 million in FY 2020 (driven by higher device sales as COVID-19 conditions normalized).
  • FY 2021 Gross Profit: $6.7 million (+33% vs. $5.1 million in FY 2020); gross margin improved to 60% from 57% in FY 2020.
  • FY 2021 Operating Expenses: $20.6 million vs. $18.4 million in FY 2020.
  • FY 2021 Net Operating Loss: $13.8 million vs. $13.3 million in FY 2020.
  • Cash Position: $40.4 million as of December 31, 2021; cash used in operations for FY 2021 was $11.2 million.

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Operator: Greetings. Welcome to the Ekso Bionics Fourth Quarter 2021 Financial Results Conference Call. At this time, all participants are in a listen-only mode. The question-and-answer session will follow the formal presentation. [Operator Instructions]. Please note this conference is being recorded. I will now turn the conference over to your host, Matt Steinberg. Thank you. 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, President and Chief Executive Officer; Scott Davis, President and Chief Operating Officer; Jack Glenn, Chief Financial Officer; and Bill Shaw, Chief Commercial Officer. Earlier today, Ekso Bionics released financial results for the quarter and year ended December 31, 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 statements regarding our business strategy, future financial or our expectations of the regulatory landscape governing our products and operations are

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