EKSO BIONICS HOLDING (OTCBB:EKSO) reported strong numbers at 4Q reporting and gave incremental progress that supports the bull story forward. It completed the year with almost $25 million in cash and no debt. It discovered creative measures to assist hospitals take units. Even the company confirmed that it intends to expand sales team in 2015.
Ekso Bionics makes a promising candidate for making speculative long positions and can be preferred by those people who are looking for some exposure to a high risk and high reward potential company. In its quarterly update, the company stated that it moved 64 units into field use. Out of 64, 55 were sold and 9 were rented. Ekso stated that utilization rates are showing considerable progress. Also, the ‘steps per unit’ increased meaningfully. The metric matters for clients who want reimbursement to meet ROI targets. It reported 9 multi-unit clients at year-end 2014
The ‘Steps per Use’ measures steps taken by the wearer on a per unit basis and was put in the reimbursement requirement by Ekso Bionics. The growth of the metric is encouraging and productive. It can be said that as this first “cohort” achieves higher rates of utilization, it more units could be offered in a shorter amount of time. The company already commenced moving additional units at a greater frequency.
The management of Ekso focused on two major progressions achieved in shifting units out to the field. It stated that renting units simplifies for hospitals to get an Exo. Also, it is relatively easier to deploy higher OPEX than acquiring the clearance for CAPEX. The second highlight was Ekso detailed that it will expand its sales team in FY2015 and also in the next year. It will focus on commercialization activities of Exo.