Ekso Bionics Reports Preliminary Fourth Quarter and Full Year 2020 Financial Results
January 13 2021 - 4:05PM
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, 2020.
Total revenue for the fourth quarter of 2020 is
an estimated $2.3 million, compared to total revenue of $3.7
million in the fourth quarter of 2019. Total revenue for fiscal
year 2020 is estimated to be approximately $8.9 million, compared
to $13.9 million in 2019.
Cash at December 31, 2020 was $12.9 million,
compared to $10.9 million at December 31, 2019.
“Our estimated fourth quarter 2020 revenue
reflected solid performance as we executed on key initiatives while
navigating through COVID-related market challenges,” commented Jack
Peurach, President and Chief Executive Officer of Ekso Bionics.
“During the quarter, we continued to gain traction with our network
operator strategy in the medical business. We believe that our new
subscription model, which reduces capital constraints, will
facilitate additional strategic deals and further expand our
installed base in 2021. We are also pleased that our latest
industrial innovation, EVO™, generated strong customer excitement
and solid initial adoption trends following its August 2020 launch.
Looking ahead, we remain confident that as the COVID situation
improves, our growing pipeline of opportunities will build greater
momentum supported by our compelling value propositions in both the
medical and industrial fronts.”
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,
2020. As of the date of this press release, the Company has not
completed its financial statement reporting process for the period
and year ended December 31, 2020, 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 2020
financial results during the last week of February 2021.
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. The Company 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 StatementsAny
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 (i) the plans and objectives of management for
future operations, including plans or objectives relating to the
design, development and commercialization of human exoskeletons,
plans or strategy relating to the marketing and adoption and
acceptance of the Company’s products and potential for adoption of
the Company’s products by the market, (ii) estimates or projection
of financial results, financial condition, capital expenditures,
capital structure or other financial items, (iii) the Company's
future financial performance and (iv) the assumptions underlying or
relating to any statement described in points (i), (ii) or (iii)
above. 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, 2020, 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, 2020 that are required to be included in such annual report,
the Company's inability to obtain adequate financing to fund the
Company's operations and necessary to develop or enhance our
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 our sales and marketing organization or
partners to market our products effectively, adverse results in
future clinical studies of the Company's medical device products,
the failure to obtain or maintain patent protection for the
Company's technology, failure to obtain or maintain regulatory
approval to market the Company's medical devices, lack of product
diversification, existing or increased competition, the Company's
failure to implement the Company's business plans or strategies and
the impact of the COVID-19 pandemic. 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 us at
www.eksobionics.com or refer to our Twitter page at @EksoBionics.
The Company does not undertake to update these forward-looking
statements.
Investor 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