Ekso Bionics Holdings, Inc.
Ekso Bionics Holdings, Inc. Q3 FY2024 earnings call
October 28, 2024 · fiscal period ended 2024-09
EPS · actual vs est
Revenue · actual vs est
Summary
Generated 2024-10-28
Management highlights
- CMS approval and reimbursement of Ekso Indego Personal in August was a significant milestone. - Worked with neurorehabilitation centers on education and patient selection. - Digital marketing programs generated new qualified leads. - EksoNR deployed in 9 of the top 10 rehabilitation centers in the US. - Supply chain and inventory management improvements led to strong gross margins. - Operating expenses reduced, improving operating margins.
Segment performance
EksoHealth: Quarterly sales were $4.1 million with 33 EksoHealth devices sold. Approximately half of the 33 placements were in Europe and APAC, and personal product revenue contributed about 28% of total revenue. EksoWorks: Sales of the EVO exoskeleton were impacted by labor strikes in US manufacturing industries.
Guidance
- Strong demand for EksoHealth products globally, with Europe sales achieving record levels in Q3 and expecting strong Q4. - Optimistic about future prospects and growing pipeline of deals. - Backlog in Q4 with ongoing strong demand.
Risks
- Delays in CMS claims reimbursement process. - Labor strikes impacting Industrial segment sales. - Macro-economic uncertainties affecting customer procurement cycles.
Q&A highlights
Q: How many of the 33 placements were ex-US?
A: Approximately half of those were in Europe and several in APAC, with the majority of placements outside the US.
Q: Number of CMS claims filed and reimbursed?
A: Multiple claims filed year-to-date, majority in Q3; to-date, one claim reimbursed, two needing resubmission.
Q: Backlog and how it's being addressed?
A: There is ordered backlog for Q4, with strong demand continuing and anticipating renewal cycles to impact 2025 and Q4.
Q: Europe Q4 outlook?
A: Demand in Europe remains strong, with a solid backlog coming into Q4, expecting a strong Q4.
Q: Legal expansion timeline for neurological conditions?
A: Working on it with top neurological research hospitals, but time frame undefined as it takes time and involves clinical trials.
Q: Personal product revenue percentage?
A: Approximately 20% of total revenue was directly related to personal products.
Key numbers
Reported versus consensus
Earnings calendar feed
| Metric | Reported | Consensus | Delta | Prior year |
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Transcript
October 28, 2024Full transcript unavailable for redistribution
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