Core Insights - Ekso Bionics has successfully demonstrated a proof-of-concept for integrating AI capabilities into its exoskeleton devices, enhancing user interaction and control [1][3] - The new AI voice agent, named "Ekso Voice Agent," is designed for intelligent control of the EksoNR device and operates on NVIDIA Jetson Orin Nano hardware [2][3] - The company has a substantial data repository with approximately 350,000 patient sessions and over 15 million data points, which is growing by an average of 60,000 patient steps daily, positioning it well to leverage AI in exoskeleton technology [3] Company Overview - Ekso Bionics is a leader in developing exoskeleton solutions aimed at enhancing human strength, endurance, and mobility for both medical and industrial applications [5] - The company focuses on improving health and quality of life through advanced robotics, offering technologies that assist individuals with paralysis and enhance capabilities in various job sites [5] - Ekso Bionics is headquartered in the San Francisco Bay Area and is publicly traded on the Nasdaq under the symbol "EKSO" [5] NVIDIA Connect Program - The NVIDIA Connect Program is designed to accelerate product development for technology companies, providing specialized training, engineering support, and access to advanced development kits and GPU platforms [4] - Membership in this program is expected to help Ekso Bionics deliver next-generation solutions in AI and high-performance computing [4]

Investment Rating - The industry investment rating is "Maintain Buy" [4] Core Viewpoints - The global exoskeleton robot market is expected to exceed $10 billion by 2025, with a compound annual growth rate (CAGR) of 33%, and the medical rehabilitation sector accounting for over 40% of this market [4][8] - Domestic market size is projected to reach 4.2 billion yuan by 2025, with a CAGR of 50% from 2023 to 2028, making it the fastest-growing single market [4][8] - International companies like Ekso Bionics, Cyberdyne, and Sarcos Robotics dominate the high-end medical market, while domestic firms such as DAI Robot and Fourier Intelligence are rapidly emerging due to cost advantages [8] Application Scenarios - **Medical Rehabilitation**: Exoskeleton robots improve rehabilitation efficiency by 60% compared to traditional methods, with a market potential of approximately 2 billion yuan in China [2][3] - **Industrial Logistics**: Deployment of exoskeletons in warehouses has led to a 300% increase in handling efficiency and an 80% reduction in injury rates [2][3] - **Military Applications**: Exoskeletons enhance soldiers' load-carrying capabilities and operational efficiency in extreme conditions [2][3] Technological Trends - **Lightweight Materials**: The use of carbon fiber has reduced the weight of exoskeletons by over 40% and improved battery life to over 16 hours [9] - **Intelligent Upgrades**: AI algorithms and brain-machine interfaces are being developed to enhance user interaction and control [9] - **Energy Technology Breakthroughs**: New solid-state batteries and self-powering systems are expected to significantly extend operational time [9] Company Developments - **Zhenjiang Co.**: Plans to produce exoskeleton robots in small batches by Q3 [10] - **Explorer Group**: Collaborating on the development of lower-limb exoskeletons, with products expected to launch by the end of the year [10] - **Precision Technology**: Testing algorithms for single-joint exoskeletons to enhance market readiness [10]

Group 1: Industry Overview - Exoskeleton robots are wearable intelligent devices that enhance or assist human movement capabilities, driven by global aging, rising labor costs, and technological advancements [1] - The global exoskeleton robot market is expected to exceed $10 billion by 2025, with a CAGR of 33%, and the medical rehabilitation sector accounting for over 40% of this market [3] Group 2: Application Scenarios - In medical rehabilitation, exoskeleton robots can significantly improve recovery efficiency by 60% compared to traditional methods, with a market potential of approximately 2 billion yuan in China [2] - In industrial logistics, exoskeletons have increased handling efficiency by 300% and reduced injury rates by 80% in warehouses [2] - In the military sector, exoskeletons enhance soldiers' load-bearing capabilities and operational effectiveness in extreme environments [2] Group 3: Competitive Landscape - International companies like Ekso Bionics and Cyberdyne dominate the high-end medical market due to their technological advantages, while domestic firms like Dai Ai Robotics and Fourier Intelligence are rapidly emerging with competitive pricing [3] - The domestic market is projected to reach 4.2 billion yuan by 2025, with a CAGR of 50% from 2023 to 2028 [3] Group 4: Technological Trends - Lightweight materials such as carbon fiber have reduced the weight of exoskeletons by over 40%, enhancing their usability [4] - AI algorithms and brain-machine interfaces are being integrated into exoskeletons, improving user intent prediction accuracy to below 0.1% [5][6] Group 5: Company Developments - Zhijian Co. is focusing on intelligent control algorithms and plans to begin small-scale production of exoskeleton robots in Q3 [7] - Explorer Group is in the systematic development phase of lower limb exoskeletons, with products expected to launch by the end of the year [7] - Jinggong Technology is testing single-joint exoskeletons for various scenarios to accelerate market entry [7] - Meihua Co. is expanding into industrial intelligence and has achieved mass production of motors for exoskeletons [8]

Core Points - Ekso Bionics Holdings, Inc. has updated the effective date of its reverse stock split from May 27, 2025, to June 2, 2025, at a ratio of 1-for-15 [1] - The number of outstanding shares will decrease from approximately 35.5 million to about 2.4 million post-split [2] - The reverse stock split was approved by stockholders to raise the per share trading price and regain compliance with Nasdaq's minimum bid price requirement of $1.00 for ten consecutive trading days [3] Summary by Sections Reverse Stock Split Details - The reverse stock split will not result in fractional shares; any fractional shares will be rounded up to the next whole share [4] - All issued and outstanding shares will be affected, reducing the number of shares issuable upon the exercise of stock options and increasing respective exercise prices [5] Stockholder Information - Stockholders holding shares electronically will not need to take action as their shares will be automatically adjusted [6] - Shareholders with physical certificates can contact VStock Transfer, LLC for information on exchanging their certificates [6] Company Overview - Ekso Bionics is a leading developer of exoskeleton solutions aimed at enhancing human strength, endurance, and mobility in medical and industrial applications [7]

Core Points - Ekso Bionics Holdings, Inc. will implement a reverse stock split at a ratio of 1-for-15, effective May 27, 2025 [1][3] - The number of outstanding shares will decrease from approximately 35,289,695 to about 2,352,646 post-split [2] - The reverse stock split aims to raise the per share trading price to comply with Nasdaq's minimum bid price requirement of $1.00 for ten consecutive trading days [3] Shareholder Impact - No fractional shares will be issued; any fractional shares will be rounded up to the next whole share [4] - The reverse stock split will uniformly affect all shareholders without significantly altering their percentage interest in the company's equity [5] - Stock options and restricted stock units will be adjusted accordingly, with a corresponding increase in exercise prices [5] Administrative Details - Shareholders holding shares electronically will not need to take action as their shares will be automatically adjusted [6] - Shareholders with physical certificates can contact VStock Transfer, LLC for information on exchanging their certificates [6] - Additional information regarding the reverse stock split is available in the Company's Definitive Proxy Statement filed with the SEC [6] Company Overview - Ekso Bionics is a leading developer of exoskeleton solutions aimed at enhancing human strength, endurance, and mobility in medical and industrial applications [7] - The company focuses on improving health and quality of life through advanced robotics designed to restore human function [7] - Ekso Bionics is headquartered in the San Francisco Bay Area and is listed on the Nasdaq Capital Market under the symbol "EKSO" [7]

Company unveils a strategic initiative to build the world’s first known foundation model for human motion in physical rehabilitation Collaboration represents an important step toward integrating powerful new AI capabilities into Ekso Bionics’ proprietary exoskeleton technology platforms SAN RAFAEL, Calif., May 15, 2025 (GLOBE NEWSWIRE) -- Ekso Bionics Holdings, Inc. (Nasdaq: EKSO) (“Ekso Bionics” or the “Company”), an industry leader in exoskeleton technology for medical and industrial use, today announced ...

专家交流：外骨骼机器人下游应用 20250505 摘要 在消费级市场方面，外骨骼机器人早期主要针对失能老人设计，用于辅助步行 和爬楼梯。然而，由于每位老人的身体状况不同，算法难以适应所有个体的需 求，并且存在摔倒风险，因此项目被暂时搁置。目前随着算法优化和人机交互 • 外骨骼机器人商业模式目前以出租为主，未来随着市场接受度提高和产品 性能优化，终端用户购买行为将逐渐增加，市场需要循序渐进地培育。 • 外骨骼机器人的研发壁垒高，需要研发人员具备跨学科知识，包括医学、 生物力学和机械工程等领域。同时，研发不仅要关注技术本身，更要贴合 市场需求。 技术的发展，这类产品的助力模式有所改善，例如助力档位调整更加灵活，使 其在登山等场景中具有一定市场潜力。然而，需要注意的是，即使是正常行动 自如的成年人使用外骨骼机器人进行登山，也存在平衡控制的问题。如果动力 系统突然提速或发生意外情况，可能导致用户摔倒。因此，在实际应用中仍需 谨慎评估风险。 • 外骨骼机器人早期应用于医疗康复，由傅利叶公司开发，用于辅助脊髓损 伤患者。随着技术发展，应用场景扩展到工业搬运和登山辅助等领域，但 消费级市场仍面临算法适应性和安全风险挑战。 ...

Company Performance - Ekso Bionics reported a quarterly loss of $0.12 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.11, and an improvement from a loss of $0.20 per share a year ago, indicating a negative earnings surprise of -9.09% [1] - The company posted revenues of $3.38 million for the quarter ended March 2025, missing the Zacks Consensus Estimate by 28.95%, and down from $3.76 million in the same quarter last year [2] - Over the last four quarters, Ekso Bionics has not surpassed consensus EPS or revenue estimates [2] Stock Outlook - Ekso Bionics shares have declined approximately 20.8% since the beginning of the year, compared to a decline of -3.3% for the S&P 500 [3] - The current consensus EPS estimate for the upcoming quarter is -$0.05 on revenues of $6.32 million, and for the current fiscal year, it is -$0.25 on revenues of $23.99 million [7] - The estimate revisions trend for Ekso Bionics is currently unfavorable, resulting in a Zacks Rank 4 (Sell), indicating expected underperformance in the near future [6] Industry Context - The Medical - Instruments industry, to which Ekso Bionics belongs, is currently ranked in the top 28% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]

Financial Data and Key Metrics Changes - The company recorded revenue of $3.4 million in Q1 2025, down from $3.8 million in Q1 2024, attributed to capital budget impacts from certain inpatient rehabilitation facilities related to the EksoNR enterprise health product [7] - Gross profit for Q1 was $1.8 million, representing a gross margin of approximately 54%, compared to a gross profit of $2 million and a gross margin of 52% in Q1 2024 [8] - Operating expenses for Q1 2025 were $5.3 million, essentially unchanged from $5.2 million in Q1 2024 [8] - Net loss applicable to common stockholders for Q1 2025 was $2.9 million or $0.12 per share, compared to a net loss of $3.4 million or $0.20 per share in Q1 2024 [8] - As of March 31, 2025, the company had cash and restricted cash of $8.1 million, up from $6.5 million at the end of 2024 [9] Business Line Data and Key Metrics Changes - The primary end market for the company's exoskeleton technology is healthcare, with two segments: enterprise health and personal health [6] - The legacy enterprise health products, mainly the EksoNR device, faced revenue declines due to budget impacts, while the Ekso Indigo personal device saw growth [10][11] - The company developed a pipeline of over 35 Medicare beneficiaries qualified for the Ekso Indigo Personal in 2025, a 37% increase from the previous quarter [12] Market Data and Key Metrics Changes - The company noted softness in the legacy enterprise business due to macroeconomic uncertainties affecting customer capital budgets [10] - The engagement with Priya Healthcare and the establishment of new distribution partnerships are expected to enhance market access and claims processing for the Ekso Indigo Personal [11][15] Company Strategy and Development Direction - The company is focusing on building a scalable go-to-market strategy for the Ekso Indigo Personal, leveraging partnerships with distribution networks [14][15] - The strategy includes working closely with neuro rehabilitation partners and enhancing education efforts for appropriate patient selection [11] - The company anticipates that the majority of revenue in 2025 will still come from enterprise health, but expects increasing contributions from personal health products [15] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the impact of economic uncertainties on capital budgets, particularly in Q1, but expressed optimism about the pipeline and future contributions from personal health products [10][27] - The management team believes that the operational improvements and cost controls will support gross margins as revenues expand [29] Other Important Information - The company is navigating complexities in coding, coverage, and payment to enhance access to its exoskeleton technology for individuals with mobility challenges [13] - The partnerships with National Seating and Mobility and Bionic P and O are expected to broaden access to the Ekso Indigo Personal across the U.S. [15][36] Q&A Session Summary Question: How should investors think about where the patients will fall this year in terms of the Indigo Personal? - Management expects that enterprise products will represent 75% to 80% of the business, with solid contributions from personal products growing quarter over quarter [19] Question: Any more color on how things are going with claims submissions? - Management has learned from past claims and believes current submissions are comprehensive with a high probability of success [24] Question: What is the outlook on capital budgeting from IDNs? - Management noted softness in capital budgets in Q1 but expects solid contributions from renewals in 2025 [26] Question: Is the gross margin trending in the right direction? - Management believes that operational improvements will allow for higher gross margins as revenue increases [29]

Financial Data and Key Metrics Changes - The company recorded revenue of $3.4 million in Q1 2025, down from $3.8 million in the same period of 2024, attributed to capital budget impacts from certain inpatient rehabilitation facilities related to the EksoNR enterprise health product [7] - Gross profit for Q1 was $1.8 million, representing a gross margin of approximately 54%, compared to a gross profit of $2 million and a gross margin of 52% for Q1 2024 [8] - Operating expenses for Q1 2025 were $5.3 million, essentially unchanged from $5.2 million in Q1 2024 [8] - The net loss applicable to common stockholders for Q1 2025 was $2.9 million, or $0.12 per share, compared to a net loss of $3.4 million, or $0.20 per share, in Q1 2024 [8] - As of March 31, 2025, the company had cash and restricted cash of $8.1 million, up from $6.5 million at the end of 2024 [9] Business Line Data and Key Metrics Changes - The primary end market for the company's exoskeleton technology is healthcare, with two segments: enterprise health and personal health [6] - The legacy enterprise health products, mainly the EksoNR device, faced revenue declines due to budget impacts, while the Ekso Indigo personal device saw good growth [10] - The company developed a pipeline of over 35 Medicare beneficiaries qualified for the Ekso Indigo Personal in 2025, a 37% increase from the previous quarter [12] Market Data and Key Metrics Changes - The company experienced softness in the legacy enterprise business in Q1 due to customers' capital budgets being impacted by macroeconomic uncertainties [10] - There is a strong pipeline in the enterprise business, but budget constraints have temporarily affected purchases [27] Company Strategy and Development Direction - The company is focusing on building a scalable go-to-market strategy for the Ekso Indigo Personal, leveraging partnerships with distribution networks [14] - The engagement with Priya Healthcare and the addition of Bionic P and O as distributors are expected to broaden access to the Ekso Indigo Personal device [15] - The company anticipates that the majority of revenue in 2025 will still come from enterprise health, but expects increasing contributions from personal health products [15] Management's Comments on Operating Environment and Future Outlook - Management noted that while there is uncertainty in capital budgets, they expect solid contributions from enterprise health in 2025 due to upcoming renewals [26] - The company is preparing for potential longer-term impacts from budget constraints but remains optimistic about its pipeline and market access capabilities [27] - Management believes that gross margins can improve as revenues expand, supported by effective cost controls [29] Other Important Information - The company operates as one reportable segment with a focus on healthcare, specifically targeting individuals with physical disabilities [6] - The management team emphasized the importance of navigating the complexities of coding, coverage, and payment to enhance access to their products [13] Q&A Session Summary Question: How should investors think about where the patients will fall this year in terms of the Indigo Personal? - Management expects that enterprise products will represent 75% to 80% of the business, with solid contributions from personal products growing quarter over quarter [19] Question: Any more color on how things are going with claims submissions? - Management has learned from past claims and believes they have a strong understanding of what constitutes a successful claim, although definitive criteria from CMS are still pending [23][24] Question: What is the outlook on capital budgeting from IDNs? - Management noted softness in capital budgets in Q1 but expects solid contributions from renewals in 2025 [26][27] Question: Can gross margins continue to improve? - Management believes that with effective cost controls and increased volume, gross margins can improve as revenues expand [29]