Financial Data and Key Metrics Changes - The company recorded revenue of $2.1 million for Q2 2025, down from $5 million in Q2 2024, primarily due to short-term delays in completing certain multi-device enterprise health sales [8][9] - Gross profit for Q2 2025 was $800,000, representing a gross margin of approximately 40%, compared to a gross profit of $2.6 million and a gross margin of 53% for the same period in 2024 [9] - Operating expenses for Q2 2025 were $4.8 million, a 4% improvement from $5 million in Q2 2024 [10] - The net loss applicable to common stockholders for Q2 2025 was $2.7 million, or $1.24 per share, compared to a net loss of $2.4 million, or $1.99 per share, for the same period in 2024 [10] Business Line Data and Key Metrics Changes - The legacy enterprise health product, primarily the EksoNR device, experienced a decrease in revenue, while sales of the Ekso Indigo personal device increased [9][12] - Personal health product revenues grew by more than 50% in the first half of 2025, despite total revenues being down 38% compared to the same period in 2024 [15][23] Market Data and Key Metrics Changes - The company noted that a small percentage of U.S. customers were impacted by the loss of federal grants and economic uncertainties, which may delay purchases into later 2025 or early 2026 [12][13] - The company has developed a pipeline of over 45 Medicare beneficiaries qualified for the Ekso Indigo Personal, up more than 200% from the end of 2024 [19] Company Strategy and Development Direction - The company is focusing on a scalable go-to-market strategy for the Ekso Indigo Personal, supported by new distribution partners and marketing efforts [23] - A strategic initiative is underway to build a proprietary foundation model for human motion in physical rehabilitation, integrating new AI capabilities across the product portfolio [20][24] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence that the second quarter revenue shortfall does not reflect the health of the current business or future prospects, citing expected closure of deferred sales [12][13] - The company is working to manage enterprise customer budgets and has engaged a third-party financial partner to assist in transitioning purchases from capital to operational budgets [42] Other Important Information - The company launched Ekso University, a virtual platform providing continuing education courses to physical therapists, aimed at increasing awareness and adoption of exoskeleton technology [14] - The company joined the NVIDIA Connect program to leverage AI and high-performance computing for product development [20][21] Q&A Session Summary Question: Can you quantify the deferred sales on the Enterprise Health side? - Management indicated that two multi-unit device sales fell out of Q2, with one being an international order and the other a North American IDN order expected to occur in Q3, totaling approximately $1.4 million [25][26] Question: When do you expect the Indigo Personal to overtake the Enterprise Health business? - Management believes that by 2025, the contribution from Personal Health will increase to about 25% of total revenue, with expectations to overtake Enterprise Health by 2027 [27][28] Question: How is the process of nailing down the patient profile progressing? - Management noted positive outcomes from recent ALJ hearings and emphasized the importance of ensuring the best claims possible for reimbursement [30] Question: Will Ekso University focus solely on exoskeletons? - Management stated that while initial courses will center on exoskeleton technology, future content will cover a broader range of neuro rehabilitation topics [32] Question: How are new collaborations aiding the commercialization of personal devices? - Management highlighted ongoing partnerships with industry leaders to navigate market access and build a scalable process for patient claims [37][40]

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% for the same period in 2024 [8] - Operating expenses for Q1 2025 were $5.3 million, essentially unchanged from $5.2 million in Q1 2024 [9] - 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 [9] - Cash and restricted cash as of March 31, 2025, was $8.1 million, up from $6.5 million at the end of 2024 [10] Business Line Data and Key Metrics Changes - The enterprise health segment saw a reduction in revenue, while the Ekso Indigo Personal experienced good growth, indicating a shift in revenue contributions [11] - The company has developed a pipeline of over 35 Medicare beneficiaries qualified for the Ekso Indigo Personal in 2025, a 37% increase from the previous quarter [13] Market Data and Key Metrics Changes - The company noted softness in the legacy enterprise business due to capital budget impacts from customers reacting to macroeconomic uncertainties [11] - The regulatory change by CMS in Q2 2024 created significant opportunities for the Ekso Indigo Personal, removing barriers for Medicare enrollees with spinal cord injuries [11] 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 Priya Healthcare and Bionic P and O to enhance market access [12][14] - The majority of revenue in 2025 is expected to still come from enterprise health, but significant contributions from personal health products are anticipated as the year progresses [16] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the growing pipeline of Medicare beneficiaries and the potential for increased contributions from personal health products throughout 2025 [17] - There are concerns about the impact of economic uncertainties on capital budgets, particularly for inpatient rehabilitation facilities, which could affect future sales [27] Other Important Information - The company has engaged with National Seating and Mobility as an exclusive distributor for the Ekso Indigo Personal within the U.S. Complex Rehabilitation Technology industry [14] - The partnerships with distribution networks are expected to enhance the company's ability to process claims and improve operational efficiency [39][41] 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 [20] Question: Any more color on how things are going with claims submissions? - Management believes they have a strong understanding of what constitutes a solid claim and that current submissions have a high probability of success [24] Question: What is the outlook on capital budgeting from IDNs? - Management noted that while there was softness in Q1, they expect solid contributions from IDNs in 2025 as many renewals are on track [26] Question: Is the current gross margin a new baseline? - Management believes that with continued operational improvements, gross margins can be maintained or improved as revenues expand [29]