Ekso Bionics Reports Preliminary Fourth Quarter and Full Year 2021 Financial Results
January 10 2022 - 9:00AM
Ekso Bionics Holdings, Inc. (Nasdaq: EKSO) (the “Company”), 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,
2021.
Total revenue for the fourth quarter of 2021 is
an estimated range of $3.9 million to $4.1 million, reflecting
year-over-year growth of 77% at the midpoint of the range, compared
to total revenue of $2.3 million in the fourth quarter of 2020.
Total revenue for fiscal year 2021 is an
estimated range of $11.1 million to $11.3 million, compared to $8.9
million in 2020. This reflects estimated year-over-year growth of
26% at the midpoint of the range.
Cash on hand at December 31, 2021 was $40.4
million, compared to $12.9 million at December 31, 2020.
“Our strong estimated fourth quarter 2021
revenue reflects continued momentum of our progress with leading
inpatient rehabilitation operators across all regions and increased
industrial orders,” commented Jack Peurach, President and Chief
Executive Officer of Ekso Bionics. “As we continue to gain traction
with network operators, we remain intensely focused on delivering
on our key value drivers while raising awareness of the
game-changing benefits that EksoNR can bring to patients. Within
our industrial segment, we are expanding EVO sales by growing our
pipeline and capturing new customers across a diverse segment of
verticals. In spite of recent challenges, we are well-positioned
for 2022 with the steadfast commitment of bringing innovative
solutions to patients and workers.”
The anticipated results discussed in this press
release are based on management’s preliminary, unaudited analysis
of financial results for the three months and year ended December
31, 2021. As of the date of this press release, the Company has not
completed its financial statement reporting process for the three
months and year ended December 31, 2021, 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- and year-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 2021 financial results during the last week
of February 2022.
1 Record revenue in the fourth quarter of 2021
excludes the comparison to the first quarter of 2016, which
included a one-time adjustment of $6.5 million as a result of a
change in the Company’s revenue recognition policy.
About Ekso
Bionics®
Ekso Bionics® is a leading developer of
exoskeleton solutions that amplify human potential by supporting or
enhancing strength, endurance, and mobility across medical and
industrial applications. Founded in 2005, the Company continues to
build upon its industry-leading expertise to design some of the
most cutting-edge, innovative wearable robots available on the
market. Ekso Bionics is the only exoskeleton company to offer
technologies that range from helping those with paralysis to stand
up and walk, to enhancing human capabilities on job sites across
the globe. Ekso Bionics is headquartered in the San Francisco Bay
Area and is listed on the Nasdaq Capital Market under the symbol
“EKSO.” For more information, visit: www.eksobionics.com or follow
@EksoBionics on Twitter.
Forward-Looking Statements
Any statements contained in this press release
that do not describe historical facts may constitute
forward-looking statements. Forward-looking statements may include,
without limitation, statements regarding the plans, objectives and
expectations of management with respect to the Company’s reporting
of complete fourth quarter and full year 2021 financial results,
the Company’s sales, marketing and other commercial strategies, the
benefits of the Company’s products to patients and workers, future
revenues or other financial results and the assumptions underlying
or relating to the foregoing. Such forward-looking statements are
not meant to predict or guarantee actual results, performance,
events or circumstances and may not be realized because they are
based upon the Company's current projections, plans, objectives,
beliefs, expectations, estimates and assumptions and are subject to
a number of risks and uncertainties and other influences, many of
which the Company has no control over. Actual results and the
timing of certain events and circumstances may differ materially
from those described by the forward-looking statements as a result
of these risks and uncertainties. Factors that may influence or
contribute to the inaccuracy of the forward-looking statements or
cause actual results to differ materially from expected or desired
results may include, without limitation, changes resulting from the
Company’s finalization of its financial statements for and as of
the period and year ended December 31, 2021, information or new
changes in facts or circumstances that may occur prior to the
filing of the Company’s Annual Report on Form 10-K for the year
ended December 31, 2021 that are required to be included in such
report, the Company's inability to obtain adequate financing to
fund the Company's operations and necessary to develop or enhance
the Company’s technology, the significant length of time and
resources associated with the development of the Company's
products, the Company's failure to achieve broad market acceptance
of the Company's products, the failure of the Company’s sales and
marketing efforts or of partners to market the Company’s products
effectively, adverse results in future clinical studies of the
Company's medical device products, the failure of the Company to
obtain or maintain patent protection for the Company's technology,
the failure of the Company to obtain or maintain regulatory
approval to market the Company's medical devices, lack of product
diversification, existing or increased competition, disruptions in
the Company’s supply chain due to the ongoing COVID-19 pandemic,
and the Company's failure to implement the Company's business plans
or strategies. These and other factors are identified and described
in more detail in the Company's filings with the SEC. To learn more
about Ekso Bionics please visit the Company’s website at
www.eksobionics.com or refer to the Company’s Twitter page at
@EksoBionics. The Company does not undertake to update these
forward-looking statements.
Contact: David
Carey212-867-1768investors@eksobionics.com
Ekso Bionics (NASDAQ:EKSO)
Historical Stock Chart
From Mar 2024 to Apr 2024
Ekso Bionics (NASDAQ:EKSO)
Historical Stock Chart
From Apr 2023 to Apr 2024