Ekso Bionics (EKSO) Reports Preliminary Q4 Result

Ekso Bionics Holdings, Inc. (NASDAQ: EKSO), an industry leader in exoskeleton technology for medical and industrial use, today announced preliminary top line financial results for the fourth quarter and fiscal year ended December 31, 2018.

Total revenue for the fourth quarter of 2018 is an estimated $3.3 million reflecting year-over-year growth of 32% compared to total revenue of $2.5 million in the fourth quarter of 2017. Total revenue for the fourth quarter of 2018 includes approximately $2.4 million in medical revenue. The Company shipped 25 EksoGT™ systems in the fourth quarter ended December 31, 2018, of which 14 were new sales and 11 were new rentals. In addition, one previously rented unit was converted to a sale. The Company also estimates recognized revenue of approximately $710,000 on shipments of its industrial products in the fourth quarter of 2018.

A total of 90 EksoGT™ units were shipped in 2018, a nearly 50% increase over the 61 units shipped in 2017. This brings the total number of EksoGT™ systems in the field at year end to 354, including 44 rental units.

Total revenue for fiscal year 2018 is estimated to be approximately $11.3 million, compared to $7.4 million in 2017. This reflects estimated year-over-year growth of 52%.

“Preliminary results for the fourth quarter reflect the strongest quarter ever for Ekso Bionics as our commercial strategy continues to resonate with customers and drive increasing adoption of the EksoGT™ as a core part of their rehabilitation programs,” said Jack Peurach, President and Chief Executive Officer of Ekso Bionics. “We also continue to see increased interest from integrated networks of rehabilitation centers that operate multiple facilities, as evidenced by the fact that we recently added four new integrated networks to our customer base. Our EksoWorks Industrial segment also had a robust quarter, reflecting the continued growth in demand for our EksoVest and EksoZeroG units. The purchase orders we secured in the fourth quarter from two global aerospace manufacturers to create and expand pilot programs utilizing EksoVest are recent examples of the significant growth opportunities that we intend to pursue for our industrial segment. Going forward in 2019, we remain focused on executing our sales strategies and improving our operational efficiencies.”

The anticipated results discussed in this press release are based on management’s preliminary unaudited analysis of financial results for the period and year ended December 31, 2018. As of the date of this press release, the Company has not completed its financial statement reporting process for the period ended December 31, 2018, and the Company’s independent registered accounting firm has not audited the preliminary financial data discussed in this press release. During the course of the Company’s quarter-end closing procedures and review process, the Company may identify items that would require it to make adjustments, which may be material, to the information presented above. As a result, the estimates above constitute forward-looking information and are subject to risks and uncertainties, including possible adjustments to preliminary operating results. The Company expects to report complete fourth quarter and full year 2018 financial results during the last week of February 2019.

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