Ekso Bionics Holdings Inc Down 22.89% To $1.65 After Earnings Miss

Tuesday, March 5, 2024 - Ekso Bionics Holdings Inc (EKSO) reported downside earnings and upside revenues.

Ekso Bionics Holdings Inc's earnings came in at an EPS loss of $0.22 per share, 100% lower than estimates for an EPS loss of $0.11 per share. The firm's loss per share narrowed by 8% since reporting a loss of $0.24 per share a year ago.

Analyst projections for Ekso Bionics Holdings Inc revenue came in at a consensus of $4.8 million. Fourth-Quarter revenues surpassed estimates for $4.8 million by $77 thousand (2%). The company achieved 36% growth year-over-year compared to the firm's revenue of $3.6 million from the year-ago quarter. The lower earnings growth relative to revenue signals Ekso Bionics Holdings Inc has not been able to improve its profit margin.

The stock is down 22.89% to $1.65 after the report.

Despite revenues increasing, earnings decreased, signaling a decline in profit margins.

The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.

Trading in the five days leading up to the report earned Ekso Bionics Holdings Inc a Bullish Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 78. Meanwhile, the average Wall Street analyst rated the stock a Strong Buy.

Ekso Bionics Holdings Inc designs, develops and sells exoskeleton technology used in healthcare and industrial markets. The wearable exoskeletons are to be worn over clothes and controlled by a trained operator to augment human strength, endurance, and mobility. The company's segments are EksoHealth and EksoWorks. All of the company's operations are held in the United States. The EksoHealth segment which derives majority revenue designs, engineers, manufactures and sells exoskeletons for applications in the medical markets.