Ekso Bionics Holdings, Inc. Q4 FY2024 earnings call

• Business overview: Designs, develops, and markets exoskeleton products for healthcare, serving physical rehabilitation and mobility. - Q4 2024 financials: Revenue up 5%, gross margin improved due to supply chain and service cost reductions; operating expenses down 15% from Q4 2023. - Indigo Personal focus: CMS pricing established in 2024; engaged Priya Healthcare for reimbursement; named National Seating and Mobility as exclusive distributor in CRT industry; built backlog of 25+ Medicare beneficiaries. - Operations: Continued efficiency improvements in supply chain and production.

Ekso Bionics operates as one operating and reportable segment. In the fourth quarter of 2024, revenue was $5.1 million, an increase of 5% compared to $4.8 million in Q4 2023. Gross profit was $2.7 million (53% gross margin) vs. $2.4 million (49%) in Q4 2023. For the full year 2024, revenue was $17.9 million (down from $18.3 million in 2023), gross profit was $9.5 million (53% margin) vs. $9.1 million (50%) in 2023. Revenue is generated from products like Ekso NR, Ekso Indigo therapy, Ekso Indigo personal, and support contracts.

• Expect multi-unit orders in 2025 as larger healthcare institutions return to procurement cycles. - Anticipate growth in APAC and Europe in 2025, with Indigo Personal potentially contributing to top line. - Project continued scaling of Indigo Personal go-to-market strategy with Priya and National Seating and Mobility.

• Uncertainty in CMS claim reimbursements for Indigo Personal. - Complexities in navigating coding, coverage, and payment for Medicare and private payers. - Dependence on successful execution of go-to-market strategies with partners.

Q: Would you mind talking about your confidence in securing multi-unit orders for this year? And then second is how should we think of the volume of Indigo claims you plan to submit this year?

A: Expect more multi-unit orders in 2025 as larger institutions return to procurement cycles; have a backlog of 25+ Medicare beneficiaries with growth expected.

Q: Can you provide additional color on the growth trajectory you think will be in 2025 and beyond for Europe and the APAC regions?

A: APAC growth continues year over year with existing products; Europe growth to normalize in 2025 but still projected; Indigo personal product line also has growth opportunity in APAC.

Q: How many of those folks that do you know, get into the queue ultimately are, you know, well qualified, if you will, or you think that would benefit from taking them through the next steps?

A: Prioritize individuals with Medicare coverage, pure Medicare first, but also have individuals with other coverage; currently have 25+ qualified Medicare candidates with more daily leads.

Q: Can you kind of tell us more about how the relationship with National Seating and Mobility came about?

A: NSM is a leading CRT distributor; relationship built on shared customer base (individuals needing mobility aids) and expertise in complex reimbursement processes for large ticket items.