EKSO BIONICS HOLDING (OTCBB:EKSO) reported 4Q2014 revenue of $1.5 million against $0.8 million in the same period last year. The strong sales of medical equipment supported the surge in revenue in 4Q. There was also increase in engineering services revenue due to $0.3 million license fee obtained in the mentioned period.
Nathan Harding, the Chief Executive Officer stated that the company was able to achieve strong numbers due to the hard work of the team and constant support rendered by the customers. The company achieved strong growth in its first year as a public entity. Ekso Bionics reported strong growth of 150% in North America and it was even higher in Europe, the Middle East and not to forget Africa. The revenue from Ekso Labs jumped more than 40%. The steps taken in Ekso Medical Devices were recorded to be 17 million.
Ekso Bionics shipped 64 devices, up 250% from FY2013. The company now has offered more than 110 units to approximately 80 customers. The utilization rate recorded in 4Q was excellent. The first Ekso unit was introduced in February 2012 and from thereon it has posted strong figures. In the year, the company announced commencement of a Pan-European study. It will be carried out at nine different centers. The objective of the study is to assess the efficiency of Ekso GT in treatment of spinal cord injury patients.
EKSO BIONICS HOLDING (OTCBB:EKSO) stated that the U.S Special Operation Command acknowledged the company’s exoskeleton capabilities and therefore awarded them with a second phase grant to complete TALOS project. The company included Stanley Stern in board. Ekso Bionics is moving forward with its plans to meet the regulatory guidelines set by the FDA as it works on Class II product classification for motorized medical exoskeletons in the U.S. Overall, it was a year of achievements for the company.