Ekso Bionics Stock Price, News & Analysis

Ekso Bionics (Nasdaq: EKSO) announced the receipt of initial CMS reimbursement for its Ekso Indego Personal exoskeleton device. The Medicare program paid a lump sum of $91,032 based on the HCPCS code K1007, effective April 1, 2024. This marks the first reimbursement for Medicare beneficiaries since Ekso received final payment determination.

The company launched the EksoHealth Personal Program to help patients access personal exoskeletons through a screening process. Ekso's clinical customers are actively participating in the program, identifying appropriate patients and offering training for home and community use. Ekso plans to work with Medicare Advantage plans and commercial insurers later in 2024, potentially increasing the addressable market for Ekso Indego Personal.

Ekso Bionics (NASDAQ: EKSO) reported record quarterly sales of $5.0 million in Q2 2024, a 5% increase from Q2 2023. The company sold 37 EksoHealth devices and achieved a gross margin of 53%. Key highlights include:

- Initial Medicare claims for Ekso Indego Personal pending reimbursement
- Net loss of $2.4 million ($0.13 per share), improved from $4.2 million loss in Q2 2023
- Reduced operating expenses across sales, marketing, R&D, and G&A
- Cash on hand at $5.9 million as of June 30, 2024

CEO Scott Davis expressed optimism about increased demand for Ekso Indego Personal following Medicare reimbursement mechanisms. The company aims to expand its reach to individuals with spinal cord injuries and continue executing its commercial strategy for growth.

Ekso Bionics Holdings, Inc. (EKSO), a leader in exoskeleton technology for medical and industrial use, has announced its plans to release financial and business results for the second quarter of 2024. The results will be made public after the close of trading on Monday, July 29, 2024. Following the release, management will host a conference call at 1:30 p.m. PT / 4:30 p.m. ET to discuss the financial results and recent business developments.

Investors can access the live webcast of the event through the "Investors" section of the company's website. For those preferring to listen via phone, domestic callers can dial 877-407-3036, while international callers should use 201-378-4919. A replay of the webcast will be available on the company's website for one month after the call.

Ekso Bionics has announced a research partnership with Shepherd Center, a leading rehabilitation hospital in Atlanta. The collaboration aims to integrate EksoNR and Ekso Indego devices into rehabilitation and community settings to enhance patient quality of life. Ekso and Shepherd Center will co-develop a research and training program for these devices, focusing on best practices for their clinical and individual use. This initiative follows the Centers for Medicare & Medicaid Services' recent decision to provide reimbursement for the Ekso Indego Personal device, increasing accessibility for spinal cord injury patients. Shepherd Center's expertise in spinal cord injuries will play a key role in evaluating the benefits of exoskeleton technology throughout the care continuum.

Ekso Bionics has appointed Deborah Lafer Scher to its Board of Directors, effective June 6, 2024. Scher brings extensive healthcare experience, having served as an Executive Advisor to the U.S. Department of Veterans Affairs (VA). She led the VA Secretary's Center for Strategic Partnerships and implemented over $250 million in programs for veterans. Currently, she is a Senior Advisor at the Milken Institute and serves on multiple boards. Scher's appointment aligns with Ekso's recent Medicare reimbursement pricing for the Ekso Indego Personal, which aids in patient rehabilitation.

Ekso Bionics Holdings, an industry leader in exoskeleton technology, will feature the Ekso Indego Personal on 'Health Uncensored' with Dr. Drew Pinsky on Fox Business News. The episode will air on May 12, showcasing the device's user-reported benefits and advanced technology. The Ekso Indego Personal is a powered exoskeleton designed to help patients with mobility impairments walk independently, offering a potentially life-changing solution for individuals previously confined to wheelchairs.

Ekso Bionics reported financial results for the first quarter of 2024, highlighting revenues of $3.8 million and a gross margin of 52%. The company achieved a final payment determination for Medicare reimbursement, sold 29 EksoHealth units, and focused on developing the market for Indego Personal.