Ekso Bionics Reports Fourth Quarter and Full-Year 2024 Financial Results

Core Viewpoint - Ekso Bionics Holdings, Inc. reported record revenue for the fourth quarter of 2024, with a focus on expanding patient access and increasing demand for its exoskeleton devices [2][11]. Summary of Fourth Quarter 2024 Financial Results - The company recorded revenue of $5.1 million for Q4 2024, a 5% increase from $4.8 million in Q4 2023 [3]. - Gross profit for Q4 2024 was $2.7 million, up 15% from the previous year, resulting in a gross margin of approximately 53%, compared to 49% in Q4 2023 [4]. - Sales and marketing expenses decreased to $1.9 million from $2.0 million in Q4 2023, attributed to lower headcount and discretionary payroll [5]. - Research and development expenses for Q4 2024 were $845,000, down from $1.3 million in Q4 2023, due to reduced discretionary payroll and consultant costs [5]. - General and administrative expenses fell to $2.2 million from $2.5 million in Q4 2023, primarily due to lower discretionary payroll [6]. - The net loss for Q4 2024 was $3.4 million, or $0.14 per share, compared to a net loss of $3.2 million, or $0.22 per share, in Q4 2023 [6]. Summary of Full Year 2024 Financial Results - For the full year 2024, the company reported revenue of $17.9 million, a 2% decrease from $18.3 million in 2023 [8]. - Gross profit for the full year was $9.5 million, with a gross margin of approximately 53%, compared to $9.1 million and a 50% margin in 2023 [9]. - Sales and marketing expenses for the full year decreased to $7.3 million from $8.5 million in 2023 [10]. - Research and development expenses for the full year were $3.9 million, down from $5.0 million in 2023 [12]. - General and administrative expenses for the full year were $8.8 million, compared to $10.7 million in 2023 [13]. - The net loss for the full year was $11.3 million, or $0.56 per share, a 25% improvement from a net loss of $15.2 million, or $1.10 per share, in 2023 [13]. - The company used $9.8 million of net cash in operations for the full year, down from $12.1 million in 2023 [14]. Additional Highlights - The company named National Seating & Mobility as its exclusive distributor for the Ekso Indego Personal device in the U.S. complex rehabilitation technology industry [11]. - As of December 31, 2024, the company had cash and restricted cash of $6.5 million [14].