Ekso Bionics Holdings, Inc. Q2 FY2024 earnings call

• CMS confirmed HCPC code K1007 for Ekso Indego Personal under Medicare's brace benefit category with a reimbursement level established, enabling expansion of access to SCI individuals. - EksoHealth had record quarterly sales, with Enterprise Health (EksoNR and Ekso therapy devices) driving growth, and EksoNR being recognized as standard of care in top U.S. rehab centers. - International demand strong, especially in EMEA and Asia. - Overhead worked to achieve positive cash flow, with gross margins up 500 basis points in Q2 2024 compared to Q2 2023, and operating expenses decreased due to lower headcount and consultant costs.

EksoHealth: Generated record quarterly sales of $5 million in Q2 2024, sold 37 devices. U.S. sales affected by procurement cycles but maintained strong sales to individual clinics/hospitals and expanded global customer base. EksoWorks: Device revenue increased by approximately $150,000 from the same period a year ago with shipments to a large paint supplier in Germany and a distribution partner in Korea. Revenue contribution details: EksoHealth likely a significant portion given the focus, while EksoWorks contributed through international shipments.

• Anticipate increasing number of Ekso Indego Personal devices through CMS reimbursement process in coming quarters. - Believe Ekso Indego Personal will have a significant positive impact on revenue in 2025 and beyond, targeting a multibillion-dollar personal mobility health addressable market in the U.S.

Forward-looking statements involve material risks and uncertainties that could cause actual results to differ from expectations, as detailed in the company's SEC filings. Risks associated with business strategy, financial/operating expectations, and regulatory landscape governing products and operations are noted.

Q: Where is the interest pipeline for Indego Personal materializing from?

A: Coming from individuals directly to the website, physicians, clinics, PTs, and through existing customers and centers. It's a relatively even mix currently, about 50-50.

Q: Do you expect the interest pipeline proportionality to change over time?

A: Yes, with content marketing efforts like webinars driving influx of leads, and grassroots effort via social media ramping up longer term.

Q: Based on visibility of inquiries, when can revenue from Indego Personal become meaningful?

A: Expect increasing number of devices through CMS process in coming quarters, starting with a handful in Q2, expecting significant increase in Q3, Q4, and 2025, with potential to impact revenue positively in 2025 and beyond