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Ekso Bionics Reports Second Quarter 2025 Financial Results
Globenewswireยท 2025-07-28 20:05
Core Viewpoint - Ekso Bionics Holdings, Inc. reported a significant decline in revenue for the second quarter of 2025, primarily due to lower sales of Enterprise Health devices, but anticipates recovery in the second half of the year driven by growth in Personal Health products [3][4]. Financial Performance - For Q2 2025, the company recorded revenue of $2.1 million, down from $5.0 million in Q2 2024, attributed mainly to decreased Enterprise Health device sales [4]. - Gross profit for Q2 2025 was $0.8 million, with a gross margin of approximately 40%, compared to $2.6 million and a gross margin of 53% in Q2 2024 [5]. - The net loss 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, in Q2 2024 [7][17]. Expenses - Sales and marketing expenses for Q2 2025 were $1.7 million, slightly down from $1.8 million in Q2 2024, mainly due to lower discretionary payroll [6]. - Research and development expenses decreased to $0.9 million in Q2 2025 from $1.1 million in Q2 2024, primarily due to a reduction in headcount [6]. - General and administrative expenses increased to $2.3 million in Q2 2025 from $2.0 million in Q2 2024, attributed to lower allocable costs to manufacturing [7]. Cash Position - As of June 30, 2025, the company had cash and restricted cash totaling $5.2 million, down from $6.5 million at the end of 2024 [8][15]. Strategic Developments - The company named Bionic Prosthetics & Orthotics Group as its first distributor for the Ekso Indego Personal device within the orthotics and prosthetics industry [10]. - Ekso Bionics was accepted into the NVIDIA Connect program, aiming to develop a proprietary foundation model for human motion and integrate AI capabilities across its product portfolio [10]. - The launch of eksoUniversity provides a library of continuing education courses for physical therapists and assistants working with patients with neurological conditions [10].