Ekso Bionics(US:EKSO)2022-07-28 23:53Financial Data and Key Metrics Changes - Ekso Bionics generated second quarter 2022 revenue of $3.5 million, a 57% increase compared to $2.2 million in the same period of 2021 [26] - Gross profit for the second quarter was $1.6 million, with a gross margin of approximately 47%, down from 58% in the prior year due to increased service and inventory costs [26] - Net operating loss for the second quarter was $3.2 million, slightly improved from a loss of $3.3 million in the previous year [28] - Cash used in operating activities in the first half of 2022 was $8.5 million, with a strong cash balance of $31.9 million as of June 30, 2022 [31] Business Line Data and Key Metrics Changes - The EksoHealth segment led the revenue growth, delivering $3.2 million in the second quarter [11] - EksoWorks generated approximately $237,000 in revenue for the second quarter, with a focus on larger customers in various industrial verticals [20] Market Data and Key Metrics Changes - The company recorded strong bookings in Europe and APAC, with 8 bookings in Europe and 2 in Hong Kong during the quarter [15][37] - The FDA clearance for EksoNR for use with MS patients significantly expands the total addressable market, with nearly 1 million people in the U.S. living with MS [16] Company Strategy and Development Direction - The company aims to deepen customer relationships and expand its market presence, particularly in the industrial sector [10][20] - The strategy includes targeting larger integrated delivery networks (IDNs) while maintaining a focus on smaller clinics [36] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism for the second half of the year, driven by strong customer engagement and international opportunities [24] - The company is well-prepared to navigate supply chain challenges and has taken proactive measures to secure necessary components [22][46] Other Important Information - The company is relocating its headquarters to a new facility in San Rafael, expected to be completed in Q3 [23][56] - The management team is focused on maximizing shareholder value while managing expenses and cash burn effectively [10][22] Q&A Session Summary Question: Can you provide more details on the 17 units sold? - Of the 17 units sold, 5 were subscription-based and the rest were capital purchases, with a focus on larger IDNs [34][36] Question: What does "solid numbers" in APAC mean? - In APAC, there were 2 bookings in Hong Kong, while Europe had 8 total bookings driven through distribution [38] Question: What is the market opportunity for MS rehabilitation? - The MS indication allows the company to market its product to a new patient segment, expanding its reach into outpatient rehabilitation [41][42] Question: How is the company managing supply chain challenges? - The company has placed orders more aggressively to maintain supplies, resulting in increased inventory and a temporary impact on margins [44][46] Question: What are the plans for operating expenses moving forward? - The company does not anticipate changes in operating expenses related to the new MS indication, as it has been planned for some time [52]