Ekso Bionics Reports Fourth Quarter and Full-Year 2024 Financial Results
Ekso Bionics (NASDAQ: EKSO) reported its Q4 and full-year 2024 financial results, achieving record Q4 revenue of $5.1 million, up 5% year-over-year. Q4 gross margin improved by 400 basis points to 53%. The company recently named National Seating & Mobility as its exclusive Ekso Indego® Personal device distributor in the U.S.
For full-year 2024, revenue was $17.9 million, down 2% from 2023. Gross profit reached $9.5 million with a 53% margin. Net loss improved by 25% to $11.3 million ($0.56 per share) compared to $15.2 million in 2023. Operating expenses decreased across all categories, with cash usage improving to $9.8 million from $12.1 million in 2023. The company ended 2024 with $6.5 million in cash and restricted cash.
Ekso Bionics (NASDAQ: EKSO) ha riportato i risultati finanziari del quarto trimestre e dell'intero anno 2024, raggiungendo un fatturato record nel Q4 di 5,1 milioni di dollari, in aumento del 5% rispetto all'anno precedente. Il margine lordo del Q4 è migliorato di 400 punti base, raggiungendo il 53%. Recentemente, l'azienda ha nominato National Seating & Mobility come distributore esclusivo del dispositivo personale Ekso Indego® negli Stati Uniti.
Per l'intero anno 2024, il fatturato è stato di 17,9 milioni di dollari, con una diminuzione del 2% rispetto al 2023. L'utile lordo ha raggiunto i 9,5 milioni di dollari con un margine del 53%. La perdita netta è migliorata del 25% a 11,3 milioni di dollari (0,56 dollari per azione) rispetto ai 15,2 milioni di dollari del 2023. Le spese operative sono diminuite in tutte le categorie, con un utilizzo di cassa che è migliorato a 9,8 milioni di dollari rispetto ai 12,1 milioni di dollari del 2023. L'azienda ha chiuso il 2024 con 6,5 milioni di dollari in contante e contante vincolato.
Ekso Bionics (NASDAQ: EKSO) informó sus resultados financieros del cuarto trimestre y del año completo 2024, logrando un ingreso récord en el Q4 de 5.1 millones de dólares, un aumento del 5% en comparación con el año anterior. El margen bruto del Q4 mejoró en 400 puntos básicos, alcanzando el 53%. La compañía nombró recientemente a National Seating & Mobility como su distribuidor exclusivo del dispositivo personal Ekso Indego® en los EE. UU.
Para el año completo 2024, los ingresos fueron de 17.9 millones de dólares, una disminución del 2% respecto a 2023. La ganancia bruta alcanzó los 9.5 millones de dólares con un margen del 53%. La pérdida neta mejoró en un 25% a 11.3 millones de dólares (0.56 dólares por acción) en comparación con los 15.2 millones de dólares en 2023. Los gastos operativos disminuyeron en todas las categorías, con un uso de efectivo que mejoró a 9.8 millones de dólares desde los 12.1 millones de dólares en 2023. La compañía cerró 2024 con 6.5 millones de dólares en efectivo y efectivo restringido.
Ekso Bionics (NASDAQ: EKSO)는 2024년 4분기 및 연간 재무 결과를 발표하며 4분기 매출이 510만 달러로 기록적인 성과를 올렸으며, 이는 전년 대비 5% 증가한 수치입니다. 4분기 총 마진은 400 베이시스 포인트 개선되어 53%에 달했습니다. 최근 회사는 National Seating & Mobility를 미국 내 Ekso Indego® 개인 장치의 독점 유통업체로 지정했습니다.
2024년 전체 연간 매출은 1790만 달러로, 2023년 대비 2% 감소했습니다. 총 이익은 950만 달러에 도달했으며, 마진은 53%입니다. 순손실은 25% 개선되어 1130만 달러 (주당 0.56달러)로, 2023년의 1520만 달러와 비교되었습니다. 운영 비용은 모든 범주에서 감소했으며, 현금 사용은 2023년 1210만 달러에서 980만 달러로 개선되었습니다. 회사는 2024년을 650만 달러의 현금 및 제한된 현금으로 마감했습니다.
Ekso Bionics (NASDAQ: EKSO) a annoncé ses résultats financiers du quatrième trimestre et de l'année entière 2024, atteignant un chiffre d'affaires record au Q4 de 5,1 millions de dollars, en hausse de 5 % par rapport à l'année précédente. La marge brute du Q4 s'est améliorée de 400 points de base pour atteindre 53 %. L'entreprise a récemment nommé National Seating & Mobility comme son distributeur exclusif du dispositif personnel Ekso Indego® aux États-Unis.
Pour l'année entière 2024, le chiffre d'affaires s'élevait à 17,9 millions de dollars, en baisse de 2 % par rapport à 2023. Le bénéfice brut a atteint 9,5 millions de dollars avec une marge de 53 %. La perte nette s'est améliorée de 25 % pour atteindre 11,3 millions de dollars (0,56 dollar par action) par rapport à 15,2 millions de dollars en 2023. Les dépenses d'exploitation ont diminué dans toutes les catégories, avec une utilisation de trésorerie améliorée à 9,8 millions de dollars contre 12,1 millions de dollars en 2023. L'entreprise a terminé 2024 avec 6,5 millions de dollars en espèces et en espèces restreintes.
Ekso Bionics (NASDAQ: EKSO) hat seine finanziellen Ergebnisse für das vierte Quartal und das gesamte Jahr 2024 veröffentlicht und einen Rekordumsatz im Q4 von 5,1 Millionen Dollar erzielt, was einem Anstieg von 5% im Vergleich zum Vorjahr entspricht. Die Bruttomarge im Q4 verbesserte sich um 400 Basispunkte auf 53%. Das Unternehmen hat kürzlich National Seating & Mobility als exklusiven Distributor für das Ekso Indego® Personalgerät in den USA benannt.
Für das gesamte Jahr 2024 betrug der Umsatz 17,9 Millionen Dollar, was einem Rückgang von 2% im Vergleich zu 2023 entspricht. Der Bruttogewinn erreichte 9,5 Millionen Dollar mit einer Marge von 53%. Der Nettoverlust verbesserte sich um 25% auf 11,3 Millionen Dollar (0,56 Dollar pro Aktie) im Vergleich zu 15,2 Millionen Dollar im Jahr 2023. Die Betriebskosten sanken in allen Kategorien, wobei der Bargeldverbrauch sich auf 9,8 Millionen Dollar von 12,1 Millionen Dollar im Jahr 2023 verbesserte. Das Unternehmen schloss das Jahr 2024 mit 6,5 Millionen Dollar in bar und eingeschränktem Bargeld ab.
- Record Q4 revenue of $5.1M (+5% YoY)
- Q4 gross margin improved to 53% (+400 bps YoY)
- 25% improvement in net loss for FY2024
- Reduced cash burn to $9.8M from $12.1M YoY
- Operating expenses decreased across all categories
- Full-year revenue declined 2% to $17.9M
- Q4 net loss increased to $3.4M from $3.2M YoY
- Continued net losses of $11.3M in FY2024
- Low cash position of $6.5M
Insights
Ekso Bionics' Q4 results show incremental operational improvements amid persistent financial challenges. The
The standout positive is the company's margin expansion, with Q4 gross margin climbing 400 basis points to
However, concerning liquidity issues loom large. With
The strategic distribution partnership with National Seating & Mobility for the Ekso Indego Personal device represents a potential catalyst, particularly as the company focuses on building its CMS claim pipeline. However, the impact timeline remains uncertain, and the company needs accelerated revenue growth to address its precarious cash position.
While operational metrics are moving in the right direction, Ekso's financial foundation remains fragile, making this a high-risk investment proposition despite the improved operational efficiency.
Ekso's earnings reflect the challenging dynamics of the medical exoskeleton market, where adoption curves remain gradual despite technological advancement. The company's strategic pivot toward broadening patient access to its Ekso Indego Personal device through the exclusive distribution agreement with National Seating & Mobility represents a calculated effort to accelerate market penetration through established rehabilitation channels.
The focus on building their CMS claim pipeline is particularly significant, as reimbursement remains the primary barrier to adoption in the personal mobility segment. Successfully navigating this complex reimbursement landscape could substantially expand the addressable market for their devices.
From a clinical perspective, Ekso's dual focus on both enterprise health (institutional) and personal health (home use) segments demonstrates awareness of the evolving care continuum. The company's EksoNR remains the cornerstone of their institutional portfolio, but scaling this business requires overcoming substantial capital expenditure hesitancy within healthcare systems.
The
Overall, while operational efficiency has improved, Ekso needs to significantly accelerate adoption rates across both institutional and personal segments to achieve financial sustainability in this still-maturing market.
SAN RAFAEL, Calif., March 03, 2025 (GLOBE NEWSWIRE) -- Ekso Bionics Holdings, Inc. (Nasdaq: EKSO) (“Ekso Bionics” or the “Company”), an industry leader in exoskeleton technology for medical and industrial use, today reported financial results for the three and twelve months ended December 31, 2024.
Recent Highlights and Accomplishments
- Record Q4-2024 revenue of
$5.1 million - Q4-2024 gross margin increased 400 basis points year-over-year to
53% - Subsequent to year-end, Company named National Seating & Mobility as its exclusive Ekso Indego® Personal device distributor within the U.S. complex rehabilitation technology (CRT) industry
“We are pleased to close out 2024 with record fourth quarter revenue, improved gross margin and growing interest in our unrivalled portfolio of Enterprise Health and Personal Health devices,” said Scott Davis, the Company’s Chief Executive Officer. “Looking ahead, our focus will be on aggressively executing two key pillars of our growth strategy: (1) broadening patient access to Ekso Indego® Personal and building upon our growing CMS claim pipeline for the device; and (2) further bolstering demand for our legacy EksoNR device. We look forward to updating investors as we progress.”
Summary Fourth Quarter 2024 Financial Results
For the quarter ended December 31, 2024, the Company recorded revenue of
Gross profit for the 2024 fourth quarter was
Sales and marketing expenses for the 2024 fourth quarter were
Research and development expenses for the three months ended December 31, 2024 were
General and administrative expenses for the 2024 fourth quarter were
Net loss applicable to common stockholders for the 2024 fourth quarter was
For the fourth quarter of 2024, the Company used
Summary Full Year 2024 Financial Results
For the full year ended December 31, 2024, the Company recorded revenue of
Gross profit for the full year ended December 31, 2024 was
Sales and marketing expenses for the full year ended December 31, 2024 were
Research and development expenses for the full year ended December 31, 2024 were
General and administrative expenses for the full year ended December 31, 2024 were
Net loss applicable to common shareholders for the full year ended December 31, 2024 was
For the full year ended December 31, 2024, the Company used
As of December 31, 2024, the Company had cash and restricted cash of
Conference Call Details
Ekso Bionics is pleased to invite all interested parties to participate in a conference call today at 1:30 p.m. PT / 4:30 p.m. ET, during which time the financial results and recent business developments will be discussed.
To participate in the conference call by telephone, please dial 877-407-6184 (domestic) or 201-389-0877 (international). The call will also be broadcast live and archived on the Company’s website at www.eksobionics.com under “Presentations & Events” in the Investors section.
About Ekso Bionics®
Ekso Bionics® is a leading developer of exoskeleton solutions that amplify human potential by supporting or enhancing strength, endurance and mobility across medical and industrial applications. Based upon its industry-leading expertise, the Company focuses on improving health and quality of life with advanced robotics designed to enhance, amplify, and restore human function. Ekso Bionics is the only known exoskeleton company to offer technologies that range from helping those with paralysis to stand up and walk, to enhancing human capabilities on job sites across the globe. The Company is headquartered in the San Francisco Bay Area and is listed on the Nasdaq Capital Market under the symbol “EKSO.” For more information, visit: www.eksobionics.com.
Forward-Looking Statements
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements. Forward-looking statements may include, without limitation, statements regarding the plans, objectives and expectations of management with respect to the Company’s industry, growth and strategy, including the Company’s focus will be on aggressively executing on its growth strategy and the corresponding pillars of that strategy. Such forward-looking statements are not meant to predict or guarantee actual results, performance, events or circumstances and may not be realized because they are based upon the Company's current projections, plans, objectives, beliefs, expectations, estimates and assumptions and are subject to a number of risks and uncertainties and other influences, many of which the Company has no control over. Actual results and the timing of certain events and circumstances may differ materially from those described by the forward-looking statements as a result of these risks and uncertainties. Factors that may influence or contribute to the inaccuracy of the forward-looking statements or cause actual results to differ materially from expected or desired results may include, without limitation, the Company's inability to obtain adequate financing to fund and grow the Company's operations and necessary to develop or enhance the Company’s technology, the Company’s inability to successfully collaborate with its network of existing neuro-rehabilitation facilities, physicians, and DMEs in seeking CMS reimbursements, the Company’s inability to obtain future reimbursements from CMS in a timely manner and at the expected reimbursement levels, the Company’s ability to raise funds to operate and grow its business, the Company’s inability to obtain insurance coverage beyond CMS, the Company’s inability to obtain additional indications of use for its devices, the significant length of time and resources associated with the development of the Company’s products, the Company’s failure to achieve broad market acceptance of the Company’s products, the failure of the Company’s sales and marketing efforts or of partners to market the Company’s products effectively, adverse results in future clinical studies of the Company’s medical device products, the failure of the Company to obtain or maintain patent protection for the Company’s technology, the failure of the Company to obtain or maintain regulatory approval to market the Company’s medical devices, lack of product diversification, existing or increased competition, disruptions in the Company’s supply chain, and the Company's failure to implement the Company's business plans or strategies. These and other factors are identified and described in more detail in the Company's filings with the SEC, including the Company’s most recently filed Annual Report on Form 10-K and its subsequently filed Quarterly Reports on Form 10-Q. To learn more about Ekso Bionics please visit the Company’s website at www.eksobionics.com or refer to the Company’s X page, formerly Twitter, at @EksoBionics. Any forward-looking statements made in this press release speak only as of the date of this press release. The Company does not undertake to update these forward-looking statements, except as required by law.
Contact:
Stephen Kilmer
Investor Relations
Direct: (646) 274-3580
Email: skilmer@eksobionics.com
| Ekso Bionics Holdings, Inc. | ||||||||
| Condensed Consolidated Balance Sheets | ||||||||
| (In thousands) | ||||||||
| December 31, | December 31, | |||||||
| 2024 | 2023 | |||||||
| Assets | ||||||||
| Current assets: | ||||||||
| Cash and restricted cash | $ | 6,493 | $ | 8,638 | ||||
| Accounts receivable, net | 7,238 | 5,645 | ||||||
| Inventories | 4,571 | 5,050 | ||||||
| Prepaid expenses and other current assets | 541 | 875 | ||||||
| Total current assets | 18,843 | 20,208 | ||||||
| Property and equipment, net | 1,577 | 2,018 | ||||||
| Right-of-use assets | 788 | 977 | ||||||
| Intangible assets, net | 4,580 | 4,892 | ||||||
| Goodwill | 431 | 431 | ||||||
| Other assets | 433 | 392 | ||||||
| Total assets | $ | 26,652 | $ | 28,918 | ||||
| Liabilities and Stockholders' Equity | ||||||||
| Current liabilities: | ||||||||
| Accounts payable | $ | 1,552 | $ | 1,847 | ||||
| Accrued liabilities | 2,352 | 2,664 | ||||||
| Deferred revenues, current | 1,956 | 1,993 | ||||||
| Notes payable, current | 1,250 | 1,250 | ||||||
| Lease liabilities, current | 427 | 363 | ||||||
| Total current liabilities | 7,537 | 8,117 | ||||||
| Deferred revenues | 1,920 | 2,169 | ||||||
| Notes payable, net | 3,854 | 4,832 | ||||||
| Lease liabilities | 452 | 723 | ||||||
| Warrant liabilities | 1 | 366 | ||||||
| Other non-current liabilities | 181 | 105 | ||||||
| Total liabilities | 13,945 | 16,312 | ||||||
| Stockholders' equity: | ||||||||
| Common stock | 22 | 15 | ||||||
| Additional paid-in capital | 262,203 | 251,580 | ||||||
| Accumulated other comprehensive income | 957 | 156 | ||||||
| Accumulated deficit | (250,475 | ) | (239,145 | ) | ||||
| Total stockholders' equity | 12,707 | 12,606 | ||||||
| Total liabilities and stockholders' equity | $ | 26,652 | $ | 28,918 | ||||
| Ekso Bionics Holdings, Inc. | |||||||||||||||
| Condensed Consolidated Statements of Operations | |||||||||||||||
| (In thousands, except per share amounts) | |||||||||||||||
| Three Months Ended December 31, (Unaudited) | Twelve Months Ended December 31, | ||||||||||||||
| 2024 | 2023 | 2024 | 2023 | ||||||||||||
| Revenue | $ | 5,090 | $ | 4,847 | $ | 17,925 | $ | 18,279 | |||||||
| Cost of revenue | 2,376 | 2,478 | 8,414 | 9,200 | |||||||||||
| Gross profit | 2,714 | 2,369 | 9,511 | 9,079 | |||||||||||
| Operating expenses: | |||||||||||||||
| Sales and marketing | 1,884 | 1,983 | 7,308 | 8,472 | |||||||||||
| Research and development | 845 | 1,313 | 3,874 | 5,025 | |||||||||||
| General and administrative | 2,215 | 2,522 | 8,789 | 10,694 | |||||||||||
| Total operating expenses | 4,944 | 5,818 | 19,971 | 24,191 | |||||||||||
| Loss from operations | (2,230 | ) | (3,449 | ) | (10,460 | ) | (15,112 | ) | |||||||
| Other (expense) income, net: | |||||||||||||||
| Interest expense, net | (59 | ) | (66 | ) | (269 | ) | (302 | ) | |||||||
| Loss on modification of warrant | - | - | (109 | ) | - | ||||||||||
| Gain (loss) on revaluation of warrant liabilities | 34 | (319 | ) | 474 | (133 | ) | |||||||||
| Unrealized (loss) gain on foreign exchange | (1,159 | ) | 635 | (965 | ) | 412 | |||||||||
| Other income (expense), net | 1 | (15 | ) | (1 | ) | (63 | ) | ||||||||
| Total other (expense) income, net | (1,183 | ) | (1,183 | ) | (870 | ) | (86 | ) | |||||||
| Net loss | $ | (3,413 | ) | $ | (3,214 | ) | $ | (11,330 | ) | $ | (15,198 | ) | |||
| Net loss per share, basic and diluted | $ | (0.14 | ) | $ | (0.22 | ) | $ | (0.56 | ) | $ | (1.10 | ) | |||
| Weighted average number of shares of | |||||||||||||||
| Common stock outstanding, basic and diluted | 24,640 | 14,446 | 20,161 | 13,867 | |||||||||||
FAQ
What was Ekso Bionics' (EKSO) Q4 2024 revenue and how did it compare to 2023?
How much did EKSO's gross margin improve in Q4 2024?
What was EKSO's net loss per share for full-year 2024?
How much cash did EKSO have at the end of 2024?
Who is EKSO's new exclusive distributor for Ekso Indego® Personal devices in the U.S.?
