Ekso Bionics' Q2 2025: Key Contradictions in Revenue Growth and Market Expectations for Personal Health Products

Expected timeline for enterprise vs personal health revenue contributions, deferred sales and revenue projections, revenue contribution from personal devices, efforts and expectations with PRIA and patient claims, market growth and revenue contribution are the key contradictions discussed in Ekso Bionics' latest 2025Q2 earnings call.



Revenue Decline and Sales Delays:
- Ekso Bionics reported $2.1 million in revenue for Q2 2025, down from $5 million in Q2 2024.
- The decline was primarily due to short-term delays in completing certain multi-device Enterprise Health sales.

Indego Personal Growth:
- Although total revenues were down 38% for the first half of 2025, Personal Health product revenues grew by more than 50%.
- This growth was attributed to the CMS-established pricing determination for the Indego Personal Exoskeleton, removing barriers to access for Medicare enrollees.

Enterprise Health and Distribution Strategy:
- The company signed a master subscription agreement with another major integrated delivery network and onboarded new distribution partners like National Seating & Mobility and Bionic P&O.
- These moves are part of a strategy to capitalize on Enterprise Health customer demand and expand distribution channels for Ekso Indego Personal.

AI Integration and Strategic Initiatives:
- Ekso Bionics joined the NVIDIA Connect program and is working on a proprietary foundation model for human motion and physical rehabilitation.
- The company aims to leverage AI to advance exoskeleton technology platforms, enabling broader adoption for personal use.

Regulatory and Market Access Efforts:
- Ekso Bionics is working closely with PRIA Healthcare to navigate market access complexities and establish a scalable go-to-market strategy for the personal channel.
- These efforts are intended to put Ekso Indego Personal within reach of more individuals, enhancing mobility for those in need.