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EKSO

Ekso Bionics Holdings, Inc.

EKSO

Ekso Bionics Holdings, Inc. • NASDAQ
$4.73 ▲ 5.82% (+0.26)
Market Cap $12.40 M
52w High $14.97
52w Low $2.73
Dividend Yield 0%
P/E -0.88
Volume 14.10K
Outstanding Shares 2.62M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $4.227M ▲ $3.951M ▼ $-1.421M ▲ -33.617% ▲ $-0.54 ▲ $-1.036M ▲
Q2-2025 $2.057M ▼ $4.794M ▼ $-2.709M ▲ -131.697% ▼ $-1.24 ▼ $-2.267M ▲
Q1-2025 $3.375M ▼ $5.246M ▲ $-2.891M ▲ -85.659% ▼ $-0.11 ▲ $-3.44M ▼
Q4-2024 $5.09M ▲ $4.944M ▲ $-3.413M ▼ -67.053% ▼ $-0.14 ▼ $-2.956M ▼
Q3-2024 $4.129M $4.848M $-2.072M -50.182% $-0.1 $-1.586M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $2.722M ▼ $21.661M ▼ $11.982M ▼ $9.679M ▼
Q2-2025 $5.242M ▼ $23.167M ▼ $12.237M ▼ $10.93M ▼
Q1-2025 $8.054M ▲ $27.31M ▲ $14.618M ▲ $12.692M ▼
Q4-2024 $6.493M ▼ $26.652M ▼ $13.945M ▼ $12.707M ▼
Q3-2024 $8.292M $29.209M $14.339M $14.87M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-1.421M ▲ $-2.061M ▲ $-12K ▲ $-437K ▼ $-2.52M ▲ $-2.011M ▲
Q2-2025 $-2.709M ▲ $-3.444M ▼ $-40K ▼ $616K ▼ $-2.812M ▼ $-3.444M ▼
Q1-2025 $-2.891M ▲ $-1.965M ▼ $-10K ▲ $3.529M ▲ $1.561M ▲ $-1.965M ▼
Q4-2024 $-3.413M ▼ $-1.433M ▲ $-21K ▼ $-314K ▼ $-1.799M ▼ $-1.454M ▲
Q3-2024 $-2.072M $-2.277M $-8K $4.691M $2.407M $-2.285M

Revenue by Products

Product Q4-2023Q1-2024Q2-2024Q3-2024
Product
Product
 $10.00M ▲$0 ▼$0 ▲$0 ▲
Product and Service Other
Product and Service Other
 $0 ▲$0 ▲$0 ▲$0 ▲
Service
Service
 $0 ▲$0 ▲$0 ▲$0 ▲
Subscription
Subscription
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has stayed very small and fairly flat over the past five years, which suggests a business still in an early or niche stage rather than one that has scaled widely. The company does earn a positive gross margin, meaning its products sell for more than they cost to produce, but that margin is not yet large enough to cover operating expenses. Operating results and net income have been consistently negative, though recent years show some gradual improvement in the size of the losses. Overall, the income statement reflects a company still investing ahead of its revenue, with meaningful progress needed before it reaches break-even.

Balance Sheet

Balance Sheet The balance sheet is lean and reflects a small company with limited resources. Total assets and cash have drifted down from earlier peaks, but have been relatively stable more recently, which indicates some control over the cash burn. There is a modest amount of debt on the books, but equity is still positive, so the company is not overly leveraged. Multiple reverse stock splits in past years point to historical pressure on the share price and a need to maintain listing standards, which is common for small, loss-making innovators. In short, the balance sheet supports ongoing operations for now but does not leave a wide margin for major missteps.

Cash Flow

Cash Flow Cash flow from operations has been consistently negative, showing that the core business is not yet self-funding and still requires external capital over time. Free cash flow is also negative, but the gap between operating cash flow and free cash flow is small, because capital spending has been very light. This means cash burn mainly reflects funding R&D, sales, and overhead, not heavy investment in physical assets. The pattern suggests disciplined spending, but it also means the company’s growth and innovation depend on continued access to financing until revenue can more fully support operations.

Competitive Edge

Competitive Edge Ekso sits in a specialized but increasingly competitive corner of the healthcare technology market, focused on exoskeletons for rehabilitation and industrial use. It benefits from strong regulatory credentials, including broad clearance for neurological conditions and important reimbursement wins in the U.S., which create real barriers for new entrants. The acquisition of the Indego line expanded its offering into personal, at‑home use, giving Ekso a more complete solution across hospital, clinic, and home settings. At the same time, it faces solid competition from other medical exoskeleton and industrial support-device makers, some of which are larger and better capitalized. Its competitive edge currently rests on regulatory approvals, clinical relationships, and product breadth, rather than scale.

Innovation and R&D

Innovation and R&D Innovation is clearly at the heart of Ekso’s strategy. The company has built a portfolio of advanced exoskeletons and software tools that emphasize adaptive, intelligent assistance and detailed gait analytics. Features like SmartAssist, Variable Assist, and cloud-based data platforms help differentiate its systems from more basic or rigid devices. The Indego acquisition broadened its reach into personal mobility and lighter, modular devices, while its work with large technology partners on AI-driven motion models points to a push into next-generation, more personalized therapy. This innovation focus is a strength but also a cost driver, contributing to ongoing losses as the company invests in product development and clinical validation.

Summary

Ekso Bionics is a small, innovation-led healthcare technology company working in a complex and emerging field. Financially, it shows a classic early-stage profile: modest and relatively flat revenue, persistent but slowly improving losses, and steady negative cash flow from operations, all supported by a thin but still viable balance sheet. Strategically, it holds meaningful assets in the form of regulatory approvals, an expanded product lineup across clinical and personal use, a presence in both medical and industrial markets, and a clear commitment to AI and software-driven differentiation. The main question for the future is how effectively it can convert these technological and regulatory advantages into larger, more sustainable revenue streams before financial constraints become more pressing.

NEWS

October 29, 2025 · 8:00 AM UTC

Ekso Bionics Announces $3.7 Million Registered Direct Offering of Common Stock Priced At-the-Market under Nasdaq Rules

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October 28, 2025 · 4:05 PM UTC

Ekso Bionics Reports Third Quarter 2025 Financial Results

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