Ekso Bionics (EKSO) investor relations material

Executive summary

• Achieved record Q4 2024 revenue of $5.1 million, up 5% year-over-year, with gross margin rising to 53% from 49% due to supply chain and service cost savings.

• Full-year 2024 revenue was $17.9 million, down 2% year-over-year, but gross profit increased to $9.5 million with a 53% margin, up from 50% in 2023.

• Net loss for Q4 2024 was $3.4 million ($0.14/share), compared to $3.2 million ($0.22/share) in Q4 2023; full-year net loss improved 25% to $11.3 million ($0.56/share) from $15.2 million ($1.10/share) in 2023.

• Named National Seating & Mobility as exclusive U.S. distributor for Ekso Indego Personal device in the CRT industry after year-end.

Financial highlights

• Q4 2024 gross profit was $2.7 million, up 15% year-over-year; full-year gross profit was $9.5 million, up from $9.1 million.

• Q4 sales and marketing expenses decreased to $1.9 million; R&D expenses fell to $845,000; G&A expenses dropped to $2.2 million.

• Full-year sales and marketing expenses were $7.3 million (down from $8.5 million), R&D $3.9 million (down from $5.0 million), and G&A $8.8 million (down from $10.7 million).

• Net cash used in operations was $1.4 million in Q4 and $9.8 million for the year, both improved from 2023.

• Cash and restricted cash at year-end was $6.5 million.

Outlook and guidance

• Focus for 2025 is on expanding patient access to Ekso Indego Personal and increasing CMS claim pipeline, as well as driving demand for EksoNR device.