SAN RAFAEL, Calif. - Ekso Bionics Holdings, Inc. (NASDAQ:EKSO), a developer of exoskeleton solutions for medical and industrial use, has announced a partnership with Shepherd Center to integrate two of its advanced exoskeleton devices, EksoNR and Ekso Indego, in rehabilitation and community settings. This collaboration aims to enhance patient care and improve the quality of life for individuals with mobility challenges.
Shepherd Center, an Atlanta-based rehabilitation hospital known for treating complex conditions such as spinal cord and brain injuries, will work with Ekso Bionics to design a research and training program for these devices. The program will focus on implementing Ekso training into clinical programs and individual use, especially for the Ekso Indego Personal device, which is now supported by a new reimbursement rate from the Centers for Medicare & Medicaid Services.
The partnership is expected to provide insights into the benefits of exoskeleton technology throughout the continuum of care, from hospital to home settings. Scott Davis, CEO of Ekso Bionics, expressed enthusiasm for the collaboration, highlighting the alignment with the company's mission to empower individuals with mobility challenges.
Deborah Backus, VP of Research and Innovation at Shepherd Center, also emphasized the potential impact of incorporating Ekso's devices into their rehabilitation center, both for patient benefits and the contribution of valuable data to the medical community.
Ekso Bionics, founded in 2005 and headquartered in the San Francisco Bay Area, is recognized for its range of exoskeleton technologies, from aiding those with paralysis to enhancing human capabilities in industrial environments.
This news is based on a press release statement from Ekso Bionics Holdings, Inc. The company cautions that forward-looking statements in the press release are not guarantees of future performance and are subject to risks and uncertainties. For more details, visit Ekso Bionics' website or follow their updates on social media.
In other recent news, Ekso Bionics Holdings, Inc. has reported significant developments. The company's Q1 revenue reached $3.8 million, driven by the sale of 29 EksoHealth devices. A significant development for Ekso Bionics was the final Medicare reimbursement approval for its Ekso Indego Personal device at $91,031, which is expected to stimulate further growth in its personal health business. Despite these positive developments, the company reported a net loss of $3.4 million.
Additionally, Ekso Bionics announced the appointment of Deborah Lafer Scher to its Board of Directors. Scher's extensive background in healthcare and her advisory roles with the U.S. Department of Veterans Affairs are expected to bring strategic insights to the company's board.
In the industrial segment, Ekso Bionics reported a nearly 60% rise in sales compared to the same period last year. The company's international performance, particularly in the EMEA region, has been robust, with the French public health system contributing significantly. These are some of the recent developments surrounding Ekso Bionics.
InvestingPro Insights
As Ekso Bionics Holdings, Inc. (NASDAQ:EKSO) forges ahead with its innovative partnership with Shepherd Center, the financial landscape of the company provides a mixed bag of metrics. According to InvestingPro data, Ekso Bionics has a market capitalization of $18.17 million, underscoring its position as a smaller player in the technology sector. The company's revenue growth over the last twelve months is notable at 23.82%, reflecting a promising upward trajectory in its sales figures.
On the operational front, the company's gross profit margin stands at an impressive 50.41%, indicating a strong ability to convert sales into profit. However, these positive indicators are balanced by a challenging financial context, as the company's operating income margin is deeply negative at -77.71%, and it has reported a basic and diluted EPS (Continuing Operations) of -$0.96.
An InvestingPro Tip highlights that Ekso Bionics is expected to grow its net income this year, which could be a pivotal turn for a company that has not been profitable over the last twelve months. Additionally, analysts are predicting that the company will become profitable this year, which may be of particular interest to investors looking for potential growth opportunities. With the company's stock having fared poorly over the last month, with a one-month price total return of -20.63%, the anticipated profitability could signal a reversal of fortunes for the company's stock performance.
For those interested in a deeper dive into Ekso Bionics' financial health and future prospects, InvestingPro offers a wealth of additional tips. In fact, there are 5 more InvestingPro Tips available for Ekso Bionics at https://www.investing.com/pro/EKSO. To access these insights and more, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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