EDISON EQUITY RESEARCH - EKSO BIONICS
22 April 2015 - 1:00AM
InvestorsHub NewsWire
EDISON EQUITY RESEARCH: EKSO BIONICS -
GROWING INTEREST IN NON-MEDICAL APPLICATIONS
Ekso showed continued strength in Q4 both in medical applications
and in Engineering services. 18 units were placed in the period,
bringing the total number of units in use to 110 with 17m steps
taken. Encouragingly, management also reports strong interest in
Ekso’s non-powered exoskeleton for industrial applications. We have
lowered our forecast ASP from $120k to $110k to be consistent with
the implied ASP over FY14, which has reduced our FY15 and FY16
revenue forecasts by 10% and 12% respectively, but we remain
optimistic about the outlook. The opportunity in non-medical
applications in particular does not appear to be fully priced in.
FDA clearance, continued unit sales growth and further development
of non-medical devices are key catalysts.
Ekso Bionics is a pioneer in the field of human robotic
exoskeletons that augment mobility, strength and endurance. It is a
development-stage company based in Richmond, California.
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