The leading robotic exoskeleton company EKSO BIONICS HOLDING (OTCBB:EKSO) announced financial results for 1Q2015 in the previous week. It reported increased YOY revenues as well as global market share. Its shares have been performing well after the announcement with the current price of $1.87.
Management’s Call:
While announcing the financial results, the senior leadership team of EKSO BIONICS was delighted. According to Nathan Harding, Co-Founder, CEO, EKSO BIONICS, the March quarter was one of the best three-month periods that EKSO had lately. The company managed to grow on all three fronts at an amazing pace. It hit 21 million steps in medical device business during the last three months, which ultimately led to developed clinical collaborations and excellent results.
EKSO has grabbed its second government contract as well as three additional patents in 2015 so far, and likely to get a few more in the coming months. The company has done extremely well in terms of financial and non-financial achievements in the first quarter. EKSO will look forward to continuing the same performance throughout the year.
Financial Figures For 1Q2015:
When it comes to revenues, EKSO managed to earn $1.7 million in 1Q2015 as compared to $1.1 million in 1Q2014. Three strongest areas where the firm performed extensively well were Middle East, Europe, and African division. When it comes to usage by customers, it managed to touch 21 million steps in the previous quarter v/s 7 million steps in May 2014.
Revenue from medical devices elevated 87% or $0.5 million in the previous quarter. Along with revenues, the cost of revenues also increased $0.5 million or 142% due to above-limit medical device amortization. Sales and marketing expenses increased 21% while R&D expenses increased 28% in the previous quarter. EKSO ended the previous quarter with a net loss of $4.1 million as compared to $81.8 million net loss during the same period in 2014.
Harding expects to improve this performance in the present quarter.
