Ekso Bionics Holding ( (EKSO) ) has released its Q4 earnings. Here is a breakdown of the information Ekso Bionics Holding presented to its investors.
Ekso Bionics Holdings, Inc. is a leading developer of exoskeleton solutions designed to enhance human strength, endurance, and mobility for medical and industrial applications. The company is headquartered in the San Francisco Bay Area and is listed on the Nasdaq Capital Market.
In its latest earnings report, Ekso Bionics announced record revenue for the fourth quarter of 2024, reaching $5.1 million, with a significant improvement in gross margin. The company also highlighted a strategic partnership with National Seating & Mobility to distribute its Ekso Indego® Personal device in the U.S.
The key financial metrics for the fourth quarter show a 5% increase in revenue compared to the previous year, with gross profit rising by 15% due to cost savings in supply chain and service costs. Despite a net loss of $3.4 million for the quarter, the company managed to reduce its operating expenses across sales, marketing, research, and administrative functions.
For the full year of 2024, Ekso Bionics reported a slight decrease in revenue to $17.9 million. However, the company achieved a 25% improvement in net loss compared to 2023, driven by strategic cost reductions. The company ended the year with $6.5 million in cash and restricted cash.
Looking ahead, Ekso Bionics plans to focus on expanding patient access to its Ekso Indego® Personal device and increasing demand for its EksoNR device. The management remains committed to executing its growth strategy and updating investors on its progress.