Ekso Bionics Holdings, Inc. (NASDAQ:EKSO) Q2 2023 Results Conference Call July 27, 2023 4:30 PM ET

Company Participants

Matt Steinberg - Investor Relations

Scott Davis - Chief Executive Officer

Jason Jones - Chief Operating Officer

Jerome Wong - Chief Financial Officer

Conference Call Participants

Sean Lee - H.C. Wainwright

Operator

Hello, and welcome to the Ekso Bionics Q2 2023 Financial Results Conference Call and Webcast [Operator Instructions]. As a reminder, this conference is being recorded.

It's now my pleasure to turn the call over to your host, Matt Steinberg with FINN Partners. Please go ahead, Matt.

Matt Steinberg

Thank you, operator. And thank you all for participating in today's call. Joining me from Ekso Bionics are Scott Davis, Chief Executive Officer; Jason Jones, Chief Operating Officer; and Jerome Wong, Chief Financial Officer. Earlier today, Ekso Bionics released financial results for the second quarter of 2023. A copy of the press release is available on the company's Web site.

Before we begin, I would like to remind you that management will make statements during this call that will include forward-looking statements within the meaning of the Federal Securities Laws, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any statements made during this call that are not statements of historical facts should be deemed to be forward-looking statements. All forward-looking statements, including statements regarding our business strategy, future financial or operational expectations or our expectations of the regulatory landscape governing our products and operations, are based upon management's current estimates and various assumptions. These statements involve material risks and uncertainties that could cause actual results or events to materially differ from those anticipated or implied by these forward-looking statements. Accordingly, you should not place undue reliance on these statements. For a list and description of the risks and uncertainties associated with our businesses, please see our filings with the Securities and Exchange Commission. Ekso disclaims any intention or obligation, except as required by law, to update or revise any financial or operational projections, our regulatory outlook or other forward-looking statements, whether because of new information, future events or otherwise, or speak only as of today, July 27, 2023.

I will now turn the call over to Ekso Bionics CEO, Scott Davis.

Scott Davis

Thank you, Matt, and thank you to everyone for joining us today. We are very pleased with our second quarter results, most notably a record number of EksoHealth device bookings and strong revenue growth of 36% year-over-year, driven by the ongoing performance of our EksoNR, the positive contributions from our Ekso Indego products and continued solid execution of our team. We are making tremendous progress in reaching more patients across the continuum of care. Ekso has taken an approach of using our technology and rehabilitative programs to follow patients from post-acute to outpatient care and onto continued home and community use. This helps differentiate us in the industry and provides our patients with more options for use of technology in their recovery process. We believe this differentiating strategy gives us access to a sizable addressable market. Specifically, we believe the VA alone with its programs around the Ekso Indego Personal provides us a market opportunity of more than $3 million. Additionally, with the full Indego product line, our reach now expands to outpatient facilities that total almost 63,000 centers domestically, along with wellness centers, which is an emerging market for us that total approximately 31,000 across the US. Our commercial and marketing teams are hard at work to drive greater awareness as we seek to penetrate these large markets.