Ekso Bionics Holdings, Inc. (NASDAQ:EKSO) Files An 8-K Other Events
Item 8.01 – Other Events – to the Original Report, and should be read in conjunction with the Original Report. Except as stated above, no other information contained in the Original Filing has been amended.
On January 8, 2019, the Company issued a press release announcing certain preliminary financial results for the quarter and year ended December 31, 2018. As disclosed in the press release:
• Revenue for the fourth quarter of 2018 was an estimated $3.3 million, reflecting year-over-year growth of 32% compared to total revenue of $2.5 million in the fourth quarter of 2017, including approximately $2.4 million in medical revenue and approximately $710,000 on shipments of industrial products. Total revenue for fiscal year 2018 is estimated to be approximately $11.3 million, compared to $7.4 million in 2017. This reflects estimated year-over-year growth of 52%.
• The Company shipped 25 EksoGT systems in the fourth quarter ended December 31, 2018, of which 14 were new sales and 11 were new rentals. In addition, one previously rented unit was converted to a sale.A total of 90 EksoGT units were shipped in 2018, a nearly 50% increase over the 61 units shipped in 2017. This brings the total number of EksoGT systems in the field at year-end to 354, including 44 rental units.
The estimated, projected or anticipated financial results, financial condition or other financial information discussed in this current report on Form 8-K/A are based on management’s preliminary unaudited analysis of financial results for the period and year ended December 31, 2018. As of the date of this report, the Company has not completed its financial statement reporting process for the period ended December 31, 2018, and the Company’s independent registered accounting firm has not audited the preliminary financial data discussed in this report. During the course of the Company’s quarter-end closing procedures and review process, including the finalization of its financial statements for and as of the period and year ended December 31, 2018, the Company may identify items that would require it to make adjustments, which may be material to the information presented above. As a result, the estimates above constitute forward-looking information. Such forward-looking statements are not meant to predict or guarantee actual results, performance, events or circumstances and may not be realized because they are based upon the Company’s current projections, plans, objectives, beliefs, expectations, estimates and assumptions and are subject to risks and uncertainties that may cause the actual results and timing of certain events and circumstances to be materially different from those described by the forward-looking statements. Such resulting differences may include material adjustments to the information provided above. The Company does not undertake to update these forward-looking statements.