Ekso Bionics(US:EKSO)2019-08-02 07:37Financial Data and Key Metrics Changes - In Q2 2019, revenue was $3.3 million, an increase from $3.0 million in Q2 2018, reflecting a growth of approximately 10% [10][20] - Gross margins expanded to approximately 48%, an increase of 15 percentage points from the same quarter last year [10][22] - Operating expenses decreased by more than 18% to $6.7 million compared to $8.2 million in Q2 2018 [10][23] - Net loss for the quarter was $3.1 million or $0.04 per share, compared to a net loss of $8 million or $0.13 per share in Q2 2018 [10][24] Business Line Data and Key Metrics Changes - EksoHealth revenue increased by approximately 18% compared to Q2 2018, driven by higher sales in the U.S. and improved rental-to-sale conversions [11] - The cumulative rental-to-sale conversion rate in the U.S. rose to 84%, up from 76% in the first quarter [11] - EksoWorks revenue decreased to approximately $415,000 from $555,000 in the same period last year, primarily due to delayed customer purchasing decisions [21] Market Data and Key Metrics Changes - U.S. market growth was strong, but performance in EMEA and APAC was softer, leading to adjustments in the European organization to better support distribution partners [15] - The company is optimistic about expanding its market opportunities with larger network operators in the U.S. [12] Company Strategy and Development Direction - The company aims to amplify human motion through advanced robotics in both medical and industrial applications [8] - A new product, the EksoUE, was introduced for upper extremity rehabilitation, expected to be available by the end of the year [16] - The company is committed to developing new technologies to enhance human mobility while optimizing its cost structure [15][16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the potential of EMEA and APAC markets despite current performance challenges [15] - The company expects to continue strengthening its customer pipeline with an expanded sales and marketing team [27] Other Important Information - Cash used in operating activities in Q2 2019 was $4.5 million, down from $5.2 million in Q1 2019, with a cash balance of $13.3 million as of June 30, 2019 [26] - The company completed treating all 30 patients in the WISE study and expects to report complete study data by the end of 2019 [27] Q&A Session Summary Question: What were the key drivers of revenue growth in Q2? - The revenue growth was primarily driven by higher U.S. sales and increased rental-to-sale conversions for Ekso GT units [27] Question: How is the company addressing the performance in EMEA and APAC? - The company is making changes to its European organization to better support distribution partners and expand customer awareness [15][27] Question: What are the expectations for future product launches? - The company plans to continue developing innovative products, including the recently announced EksoUE, to enhance rehabilitation solutions [16][27]