Ekso Bionics Holdings Inc. (Nasdaq: EKSO), a San Rafael-based creator of robotic exoskeletal devices, announced last week $5.1 million in revenue for the fourth quarter.
That’s a 5% increase year over year. For all of 2024, revenue was reported at $17.9 million, down by about $400,000, or 1.9%. The drop was largely due to the absence of two large delivery networks the company used in 2023.
The Marin County company also recorded a quarterly net loss of $3.4 million versus $3.2 million for the same period the year prior. Its biggest driver was attributed to an unrealized $1.2 million loss on foreign exchange for the global company, which commonly refers to balance-sheet discrepancies associated with invoicing and payment on overseas sales.
Operating expenses for the fourth quarter were $4.9 million, a decline of 15% compared to 2023’s fourth quarter.
“Looking ahead, our focus will be on aggressively executing two key pillars of our growth strategy,” CEO Scott Davis said in a statement.
He listed a broadening of patient access to the Ekso Indego Personal device (at home) and further bolstering demand for its legacy EksoNR version (in rehabilitation facilities).
With current assets of $18.8 million, Ekso Bionics’ equipment is designed to help patients with paralysis and mobility issues due to strokes, multiple sclerosis or brain injuries.