Ekso Bionics reports second-quarter earnings

Ekso Bionics Holdings Inc. reported financial results for the second quarter of 2017. The quarter ended June 30.

Revenue for the quarter was $1.9 million, which included approximately $1.5 million in medical device revenue and $0.4 million in industrial sales, compared with $1.6 million for the same quarter in 2016, which included approximately $1.2 million in medical revenue and $0.3 million in industrial sales, according to a company press release. Gross profit for the quarter was $0.4 million compared with $0.2 million in the same quarter a year earlier, which the developer of exoskeleton technology attributed to more sales of medical devices. The company reported net loss applicable to common shareholders for the quarter of $5.5 million, or $0.22 per share, compared with $10 million, or $0.61per share, for the same period a year earlier.

Highlights reported by Ekso included the demonstration of the EksoGT robotic exoskeleton for rehabilitation at the Congressional Briefing on Value of Rehabilitation in America’s Healthcare System in Washington, D.C.

“We are pleased with our progress in the second quarter as we continue to execute on key strategic initiatives that will support sustainable, long-term growth,” Thomas Looby, president and chief executive officer of Ekso Bionics, said in the release. “These initiatives helped to increase our number of unit placements in the past quarter. We remain focused on driving commercialization of EksoGT for rehabilitation and our exoskeleton offering for industrial applications, which will allow us to realize our vision for improving the lives of patients and industrial workers while creating value for our shareholders.”




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