EKSO BIONICS HOLDINGS, INC. Q4 FY2023 earnings call

• Record annual revenues of $18.3 million in 2023, a 42% increase from 2022. - Launched GaitCoach software for EksoNR, intended to improve user trust and device usability. - Achieved operational leverage with operating expenses up 11% while revenue grew 42% in 2023. - Reduced inventory by 3% in 2023. - Transitioned Ohio team to new IT system for product development and quality processes.

EksoHealth: In Q4 2023, revenue was $4.8 million, a 36% increase from Q4 2022. For full-year 2023, 151 EksoHealth devices were sold, up 51% from 2022. Ekso Indego Personal: CMS requested additional commercial pricing evidence; Ekso will provide info to support Medicare claims on a case-by-case basis. International: Solid performance in EMEA and APAC, with multiunit EksoNR sales in Eastern Europe. Ekso Works: Modest revenue contributions but made progress in industrial product line with new contract manufacturer, aiming to meet supply and pricing demands.

• Focus on building relationships with larger customers in international regions. - Continue optimizing expense and inventory management to scale the business. - Aim to build on 2023 momentum for sustained growth in 2024.

• Uncertainty in CMS pricing determination for Indego Personal affecting market adoption. - Dependence on regulatory approvals and reimbursement rates for product sales. - Potential inventory management and supply chain issues.

Q: On Indego pricing, what's needed to help CMS come to a decision and if things can be resolved before April 1?

A: CMS requested additional commercial pricing evidence. Ekso plans to provide this info and work with customers for case-by-case Medicare claims support; there's a possibility of CMS issuing a correction prior to biannual meetings.

Q: Thoughts on referral paths for personal units and addressable SCI patients?

A: HCPCS code K1007 is approved, but final payment determination is pending. Early adopters are expected, with an anticipated 5%-10% addressable population, relying on arduous screening processes to ensure patient safety.