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EKSO BIONICS (EKSO)
NASDAQ:EKSO
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EKSO BIONICS
(NASDAQ:EKSO)
48Neutral
Positive Factors
Medicare reimbursement
Ekso has engaged PRIA Healthcare to aid in building a repeatable process for Medicare reimbursement, expected to minimize headaches.
Strategic partnerships
Strategic partnerships have been formed to broaden access to Ekso Indego Personal and navigate the reimbursement process, potentially expanding the market and driving long-term value for Ekso.
Negative Factors
Cash runway concerns
The company’s present forecasts suggest less than 12 months of cash runway, indicating a likely need to tap the equity markets.
Revenue performance
Ekso Bionics reported revenues of $4.1M, lower than the consensus estimate of $5.5M, and a net loss of $0.10 per share.
EKSO BIONICS (EKSO) vs. S&P 500 (SPY)
Market Cap
$10.85M
Dividend YieldN/A
Average Volume (3M)226.36K
Price to Earnings (P/E)―
Beta (1Y)1.64
Revenue Growth-1.94%
EPS Growth48.27%
CountryUS
Employees61
SectorHealthcare
Sector Strength70
IndustryMedical - Instruments & Supplies
Share Statistics
EPS (TTM)-0.57
Shares Outstanding24,824,762
10 Day Avg. Volume140,854
30 Day Avg. Volume226,356
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)0.69
Price to Cash Flow (P/CF)-2.20
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$5.00Price Target Upside1036.36% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EKSO BIONICS Business Overview & Revenue Model
Company DescriptionEkso Bionics (EKSO) is a pioneering company in the exoskeleton industry, specializing in the development and commercialization of cutting-edge wearable robotic exoskeletons. Founded in 2005 and headquartered in Richmond, California, Ekso Bionics operates primarily within the healthcare and industrial sectors. The company's core products include robotic exoskeletons designed to augment human capabilities, enhance mobility, and provide rehabilitation solutions for individuals with lower extremity impairments or other mobility challenges.
How the Company Makes MoneyEkso Bionics generates revenue through the sale and lease of its exoskeleton products, primarily targeting healthcare facilities, rehabilitation centers, and industrial clients. A significant portion of its earnings comes from its flagship product line, EksoNR, which is used in medical rehabilitation to aid patients with spinal cord injuries, stroke, and other neurological conditions. Additionally, the company offers the EksoVest and EksoZeroG for industrial applications, designed to reduce fatigue and improve worker safety in demanding physical environments. Ekso Bionics also benefits from strategic partnerships and collaborations with healthcare institutions and industrial companies, which help expand its market reach and drive product adoption. The company occasionally receives grants and funding for research and development, further supporting its revenue streams.
EKSO BIONICS Financial Statement Overview
Summary
EKSO BIONICS is facing financial challenges, including negative profitability and cash flow, despite improvements in operational efficiency and a stable equity position.Income Statement
EKSO BIONICS has shown a volatile revenue trajectory with a slight revenue decline of 1.94% from 2023 to 2024. The gross profit margin improved to 53.06% in 2024 from 49.68% in 2023, indicating efficiency in controlling direct costs. However, the company continues to face challenges with profitability, as evidenced by a negative net profit margin of -63.21% in 2024, despite improving from -83.17% in 2023. The EBIT and EBITDA margins remain negative, reflecting ongoing operational challenges.55
Neutral
Balance Sheet
EKSO BIONICS' balance sheet reflects a stable equity position with an equity ratio of 47.68% as of 2024. The debt-to-equity ratio stands at 0.47, indicating moderate leverage, which has slightly decreased from 0.57 in 2023. However, the return on equity remains negative at -89.17% due to persistent net losses, highlighting a challenging environment for shareholder returns.50
Neutral
Cash Flow
The cash flow statement reveals a negative free cash flow for 2024, although it improved by 19.46% compared to 2023. The operating cash flow to net income ratio is 0.87, suggesting that operational cash generation is not sufficient to cover net losses. The company is heavily reliant on financing activities to support cash flow needs.45
Neutral
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 17.93M | 18.28M | 12.91M | 11.25M | 8.88M | Gross Profit |
| 9.51M | 9.08M | 6.21M | 6.75M | 5.07M | EBIT |
| -10.46M | -15.11M | -15.56M | -13.83M | -12.86M | EBITDA |
| -9.45M | -13.20M | -14.04M | -9.09M | -15.07M | Net Income Common Stockholders |
| -11.33M | -15.20M | -14.60M | -8.43M | -16.95M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 6.49M | 8.64M | 20.52M | 40.41M | 12.86M | Total Assets |
| 26.65M | 28.92M | 40.90M | 49.17M | 20.60M | Total Debt |
| 5.98M | 7.17M | 7.50M | 2.22M | 3.86M | Net Debt |
| -510.00K | -1.47M | -13.02M | -38.18M | -9.01M | Total Liabilities |
| 13.95M | 16.31M | 15.46M | 11.95M | 16.16M | Stockholders Equity |
| 12.71M | 12.61M | 25.44M | 37.22M | 4.43M |
| Cash Flow | Free Cash Flow | |||
| -9.85M | -12.21M | -14.88M | -11.21M | -8.76M | Operating Cash Flow |
| -9.85M | -12.05M | -14.69M | -11.16M | -8.76M | Investing Cash Flow |
| -37.00K | -157.00K | -5.17M | -59.00K | 0.00 | Financing Cash Flow |
| 7.77M | 348.00K | 176.00K | 38.71M | 10.70M |
EKSO BIONICS Technical Analysis
Negative
0.44
Price Trends
0.52
Negative
0.61
Negative
0.86
Negative
Market Momentum
-0.02
Negative
43.96
Neutral
36.02
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For EKSO, the sentiment is Negative. The current price of 0.44 is above the 20-day moving average (MA) of 0.44, below the 50-day MA of 0.52, and below the 200-day MA of 0.86, indicating a neutral trend. The MACD of -0.02 indicates Negative momentum. The RSI at 43.96 is Neutral, neither overbought nor oversold. The STOCH value of 36.02 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for EKSO.
EKSO BIONICS Risk Analysis
EKSO BIONICS disclosed 22 risk factors in its most recent earnings report. EKSO BIONICS reported the most risks in the “Legal & Regulatory” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
EKSO BIONICS Peers Comparison
Overall Rating
UnderperformOutperform
Sector (49)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
56 Neutral | $167.09M | ― | -36.69% | ― | 69.17% | 39.01% | |
52 Neutral | $187.15M | ― | -9.15% | ― | 1.26% | 70.30% | |
52 Neutral | $739.95M | ― | -20.86% | ― | 11.89% | 79.18% | |
49 Neutral | $6.85B | 0.81 | -52.75% | 2.49% | 20.08% | 1.28% | |
48 Neutral | $10.85M | ― | -89.52% | ― | -1.94% | 48.27% | |
43 Neutral | $440.33M | ― | -166.29% | ― | 0.37% | -20.49% | |
39 Underperform | $16.00 | ― | 1078.28% | ― | -7.53% | 77.39% |
* Healthcare Sector Average
Performance Comparison
EKSO
EKSO BIONICS
0.44
-0.88
-66.67%
ARAY
Accuray
1.82
-0.59
-24.48%
THMO
ThermoGenesis Holdings
0.02
-0.70
-97.22%
SENS
Senseonics Holdings
0.68
0.16
30.77%
MYO
Myomo
4.86
1.77
57.28%
BVS
Bioventus
9.03
3.81
72.99%
EKSO BIONICS Earnings Call Summary
Earnings Call Date: Mar 3, 2025 | % Change Since: -8.33% | Next Earnings Date: Apr 24, 2025
Earnings Call Sentiment Neutral
The earnings call presented a mix of positive and negative trends. While there were record-breaking quarterly revenues, improved margins, and strategic partnerships, there were also challenges such as a decline in full-year revenue and increased net loss for the quarter. The company's strategic efforts to enhance market access and reimbursement processes indicate optimism for future growth.Highlights
Record-Breaking Quarterly Revenue
The company recorded revenue of $5.1 million in the fourth quarter of 2024, an increase of 5% compared to $4.8 million in the same period in 2023.
Improved Gross Margin
Gross margin increased to approximately 53% in Q4 2024, compared to 49% in Q4 2023, due to supply chain improvements and reduced service costs.
Decreased Operating Expenses
Operating expenses for Q4 2024 were $4.9 million, a 15% decrease compared to $5.8 million for Q4 2023, primarily due to a decrease in headcount and discretionary payroll.
Positive Gross Margin Trend
For the full year 2024, gross profit was $9.5 million, with a gross margin of 53%, compared to a gross margin of 50% in 2023.
Successful CMS Pricing Determination
CMS established pricing determination for the Ekso Indigo Personal device in Q2 2024, creating a significant opportunity to help Medicare enrollees living with spinal cord injuries.
Engagement with Priya Healthcare
Engaged Priya Healthcare to help navigate the complexities of CMS reimbursement, enhancing the ability to submit Medicare claims.
Exclusive Distribution with National Seating and Mobility
Ekso Bionics partnered with National Seating and Mobility as the exclusive distributor within the CRT industry in the United States, expanding access to Ekso Indigo Personal.
Lowlights
Full Year Revenue Decline
Full year 2024 revenue was $17.9 million, down from $18.3 million in 2023, due to difficult 2023 comparables and rebuilding the pipeline.
Increased Net Loss in Q4
Net loss applicable to common stockholders for Q4 2024 was $3.4 million, compared to a net loss of $3.2 million for the same period in 2023.
Challenges with Medicare Claims
Despite submitting the first Medicare claim in May and seeing it reimbursed in July, subsequent claims in Q4 were not submitted due to the appeals process and the need for strategic guidance.
Company Guidance
During Ekso Bionics Holdings, Inc.'s Fourth Quarter 2024 Financial Results Conference Call, the company provided guidance on several key metrics and strategic initiatives. For Q4 2024, Ekso Bionics reported a revenue of $5.1 million, marking a 5% increase from the $4.8 million reported in the same period of 2023. The gross profit stood at $2.7 million, reflecting a gross margin of 53%, up from 49% in the previous year. Operating expenses decreased by 15% to $4.9 million, leading to a net loss of $3.4 million or $0.14 per share. For the full year 2024, revenue was slightly down at $17.9 million compared to $18.3 million in 2023, with gross profit rising to $9.5 million and a gross margin of 53%. Operating expenses for the year decreased by 17% to $20 million, resulting in a net loss of $11.3 million or $0.56 per share. The company emphasized its strategic focus on expanding market access for its Ekso Indigo Personal device, leveraging the newly established CMS reimbursement framework, and partnerships with Priya Healthcare and National Seating and Mobility. Ekso Bionics anticipates increased contributions from its personal health products in 2025, driven by efforts to submit claims to CMS for eligible Medicare beneficiaries.Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.