Ekso Bionics Reports 58% Revenue Decline in Q2 2025, Net Loss Increases

Ekso Bionics Holdings, Inc. reported a significant decline in financial performance for the second quarter of 2025, with revenues of $2.1 million, a decrease of 58% compared to $5 million in the same period of 2024. For the first half of 2025, total revenue was $5.4 million, down 38% from $8.7 million in the prior year. The company attributed this decline primarily to reduced sales in its Enterprise Health segment, particularly due to delays in completing two major contracts, which are expected to close in the third quarter of 2025. Despite the overall revenue drop, there was a noted increase in sales from the Personal Health segment, which includes the Ekso Indego Personal device.

The company's gross profit for the second quarter fell to $819,000, down from $2.6 million a year earlier, resulting in a gross margin of 40%, compared to 53% in the prior year. This decline was driven by fixed costs associated with lower sales volumes in the Enterprise Health segment and increased shipping costs. Operating expenses for the quarter were $4.8 million, a slight decrease from $5 million in the same period last year, with notable reductions in sales and marketing and research and development expenses, offset by an increase in general and administrative costs.

Ekso Bionics' net loss for the second quarter was $2.7 million, compared to a loss of $2.4 million in the same quarter of 2024. The company reported a comprehensive loss of $3.8 million for the quarter, which included a significant unrealized gain of $1.3 million on foreign exchange. For the first half of 2025, the net loss was $5.6 million, a slight improvement from a loss of $5.8 million in the same period of 2024.

In terms of operational developments, Ekso Bionics has been focusing on expanding its Personal Health market, particularly following the approval of Medicare reimbursement for the Ekso Indego Personal device. The company has signed distribution agreements with various suppliers to enhance its market reach. As of June 2025, the company had approximately 45 individuals who qualify for reimbursement, with expectations for increased claims submissions in the coming months. The company is also exploring additional insurance coverage beyond Medicare and seeking to expand the indications for its products.

Looking ahead, Ekso Bionics faces challenges related to liquidity, with $5.2 million in cash as of June 30, 2025, and an accumulated deficit of $256.3 million. The company has indicated that it may need to raise additional funds to support its operations over the next 12 months, as it anticipates continued operating losses. Management is considering various financing options, including equity offerings and debt financing, to meet its cash requirements and support its growth initiatives.