Ekso Bionics reports $4.1 million in revenue for Q3 2024, achieving gross margin of 53.5%.

From GlobeNewswire: 2024-10-28 16:05:00

Ekso Bionics Holdings, Inc. reported $4.1 million in revenue for the third quarter of 2024 and sold 33 EksoHealth devices. They achieved a gross margin of 53.5% and completed an underwritten offering resulting in $5.0 million in net proceeds in September 2024.

The company received initial reimbursement from CMS for the Ekso Indego Personal, benefiting SCI patients. They aim to expand access to EksoHealth devices and collaborate with existing facilities for future sales.

Third quarter 2024 financial results show $4.1 million in revenue, a gross margin of 53.5%, and reduced sales and marketing expenses compared to the same period in 2023.

For the nine months ended September 30, 2024, revenue was $12.8 million, with a gross margin of 53%. The company sold 99 EksoHealth devices and reduced sales and marketing, research and development, and general administrative expenses.

Net loss applicable to common stockholders for the nine months ended September 30, 2024, was $7.9 million. Cash on hand on September 30, 2024, was $8.3 million, with net cash used in operating activities at $8.4 million.

Ekso Bionics will host a conference call today to discuss their financial results and recent business developments. A live webcast of the event is available on their website.

Ekso Bionics is a leading developer of exoskeleton solutions for medical and industrial use. They continue to innovate wearable robots that enhance human capabilities. The company is listed on the Nasdaq Capital Market under the symbol “EKSO.”



Read more at GlobeNewswire:: Ekso Bionics Announces Third Quarter 2024 Financial