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Dec 31, 2024
Ekso Bionics Q4 2024 Earnings Report
Ekso Bionics reported its financial results for the fourth quarter and full-year ended December 31, 2024, showing record Q4 revenue and improved gross margin.
Key Takeaways
Ekso Bionics achieved record fourth-quarter revenue of $5.1 million, a 5% increase year-over-year, and improved its gross margin to 53%. The company also reported a net loss of $3.4 million for the quarter.
Record Q4-2024 revenue of $5.1 million was achieved.
Q4-2024 gross margin increased 400 basis points year-over-year to 53%.
Net loss for Q4-2024 was $3.4 million, or $0.14 per basic and diluted share.
The company used $1.4 million of net cash in operations during Q4-2024.
Ekso Bionics
Ekso Bionics
Forward Guidance
The company's focus for future growth will be on broadening patient access to Ekso Indego® Personal and building upon its growing CMS claim pipeline, and further bolstering demand for its legacy EksoNR device.
Positive Outlook
- Broadening patient access to Ekso Indego® Personal device.
- Building upon the growing CMS claim pipeline for Ekso Indego®.
- Further bolstering demand for the legacy EksoNR device.
- Exclusive distribution agreement with National Seating & Mobility for Ekso Indego® Personal device in the U.S. CRT industry.
- Continued focus on aggressive execution of growth strategy.
Challenges Ahead
- Inability to obtain adequate financing to fund and grow operations.
- Inability to successfully collaborate with neuro-rehabilitation facilities, physicians, and DMEs for CMS reimbursements.
- Inability to obtain future CMS reimbursements timely or at expected levels.
- Failure to achieve broad market acceptance of products.
- Adverse results in future clinical studies of medical device products.