The following is a summary of the Ekso Bionics Holdings, Inc. (EKSO) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Ekso Bionics achieved record quarterly sales of $5 million in Q2 2024, compared to $4.7 million in Q2 2023.

• Gross profit increased to $2.6 million with a gross margin of 53%, compared to $2.3 million and a 48% margin in the previous year.

• Operating expenses decreased to $5 million from $6.5 million year-over-year, contributing to a reduced net loss of $2.4 million, or $0.13 per share, compared to a net loss of $4.2 million, or $0.31 per share, in Q2 2023.

Business Progress:

• Ekso Bionics expanded its global customer base and distribution network, notably in the EMEA region and Asia, driven by adoption of their neurorehabilitation robotics.

• The company secured CMS Medicare reimbursement for its Ekso Indego Personal, which is expected to significantly expand access for individuals with spinal cord injuries.

• Sales momentum was supported by placement of its devices in 9 of the top 10 rehab centers in the U.S., indicating widespread clinical adoption.

Opportunities:

• With the CMS approval for Medicare reimbursement, Ekso Bionics anticipates significant growth potential by increasing accessibility of their Ekso Indego Personal device to a broader patient base.

Risks:

• U.S. sales saw fluctuations in procurement cycles with large integrated delivery network customers, which might impact short-term revenue consistency.

More details: Ekso Bionics Holdings, Inc. IR

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