EKSO BIONICS HOLDINGS, INC. Q1 FY2024 earnings call

• Closed Q1 2024 with positive momentum, including final payment determination for Medicare reimbursement of Ekso Indego Personal.
• Generated $3.8 million revenue in Q1 2024, sold 29 EksoHealth devices, affected by seasonality.
• Focused on executing commercial strategy, growing IDN network, with $1 million backlog in Q1 2024 to be recognized in 2024.
• Ekso Indego Personal: CMS approved reimbursement, $91,031 effective April 1, aiming to grow Personal Health business with ramp-up quarter-over-quarter.
• International: Leveraging distribution network in EMEA and APAC, with French health system adopting robotics for neurorehabilitation.
• EksoWorks: Sales up nearly 60% from Q1 2023, improved cost structures with new contract manufacturer, targeting large industrial settings.

EksoHealth: Generated revenue of $3.8 million in Q1 2024, sold 29 devices, slightly affected by seasonality. Ekso Indego Personal: Received Medicare reimbursement of $91,031 effective April 1, retroactively, aiming to grow the Personal Health business. International: Gaining momentum in EMEA and APAC, with strong performance in EMEA due to French health system adopting robotics. EksoWorks: Sales increased nearly 60% from Q1 2023, delivered devices to an OEM in construction and shipped to aerospace/energy customers.

• Anticipate growing the Personal Health business, with growth ramping up quarter-over-quarter as commercial and clinical teams engage with therapists/clinicians.
• Leverage network to expand certified training centers across the U.S. for Ekso Indego Personal.
• Continue building on international distribution network to achieve operating leverage and scalable worldwide growth.

• Statements include forward-looking statements subject to material risks and uncertainties from new information, future events, etc. For risks, see Ekso's SEC filings.

Q: Recent Medicare approval, any increase in lead generation?

A: Yes, strong demand from individuals with spinal cord injuries, definite uptick from the announcement of final payment determination.

Q: Does standardized reimbursement streamline sales cycle?

A: Yes, absolutely, as CMS payment determination provides a recognized cash value, making it a more standardized process.

Q: International EMEA growth, one-time or ongoing?

A: Ongoing, due to strong distribution network and French health system adopting robotics for many hospitals in France.

Q: Demand for Indego Personal, where from?

A: Leads from individuals themselves via website inquiries and neuro rehab facilities with spinal cord injury patients in their programs.

Q: Documentation ease with new reimbursement?

A: Substantially easier now with final payment determination, but ramp-up expected as it's a new reimbursement program.

Q: Physician prescription mindset?

A: Difficult to determine specifically, but early claims from multiple physicians, with expectation that it will become easier once physicians have experience.

Q: Backlog, worldwide or North America?

A: Largely worldwide, including EMEA, with a significant portion from the French health care system project.