Mon, Mar 3, 9:13 PM (54 days ago)
Ekso Bionics Holdings, Inc. (NASDAQ: EKSO) reported a net loss of $11.33 million for the year ended December 31, 2024, compared to a loss of $15.20 million in 2023. Revenue decreased 2% to $17.93 million, driven by lower average selling prices and a decline in EksoNR subscriptions, partially offset by increased service revenue. Gross profit rose 5% to $9.51 million, with a gross margin improvement to 53%. Operating expenses fell 17% to $19.97 million, primarily due to cost reductions in sales and marketing, research, and general administrative expenses. The company’s cash and restricted cash were $6.49 million, with liquidity concerns noted, as substantial doubt exists regarding its ability to continue as a going concern without additional funding. Strategically, Ekso aims to leverage recent Medicare reimbursement approvals for the Ekso Indego Personal device to drive sales growth. However, risks include dependency on reimbursement policies, supply chain disruptions, and competition in the exoskeleton market. The company is exploring financing options and partnerships to enhance its market position.