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SAN RAFAEL, Calif. - Ekso Bionics Holdings, Inc. (NASDAQ:EKSO), a $7.55 million market cap company currently trading below its InvestingPro Fair Value, has successfully demonstrated initial proof-of-concept for integrating artificial intelligence capabilities across its exoskeleton devices, according to a press release issued Wednesday.
The company revealed its first AI application, called Ekso Voice Agent, designed for voice control of its EksoNR device. The system utilizes NVIDIA Jetson Orin Nano hardware developed with NVIDIA JetPack SDK and OpenAI tools for voice recognition, configured as an Edge AI system that can function with or without cloud connectivity. With annual revenues of $17.54 million and a healthy gross margin of 53.39%, the company maintains strong operational efficiency despite its aggressive innovation initiatives.
"We are actively developing AI tools to leverage our existing data and expertise to transform human-robot interaction, which we believe is a necessary component to enable broader adoption of exoskeletons for personal use," said Scott Davis, Chief Executive Officer of Ekso Bionics.
The company stated it has accumulated approximately 350,000 patient sessions and over 15 million step-by-step data points in its repository, which reportedly grows by an average of 60,000 patient steps daily. According to InvestingPro, while the company holds more cash than debt on its balance sheet, analysts should note its rapid cash burn rate - a crucial metric for investors tracking the company’s path to commercialization.
The demonstration comes just over a month after Ekso Bionics announced its acceptance into the NVIDIA Connect Program, which provides participating companies with specialized training, engineering support, and access to NVIDIA’s development resources.
Ekso Bionics develops exoskeleton solutions for both medical and industrial applications, focusing on technologies that support or enhance strength, endurance and mobility.
The company noted that the AI voice agent is being designed to support exoskeleton device operation, motivation, training, and safety functions.
In other recent news, Ekso Bionics Holdings, Inc. reported a challenging first quarter of 2025 with earnings per share of -$0.12, missing the forecast of -$0.08. The company’s revenue dropped to $3.4 million, falling short of the expected $4.8 million, and representing a 10% decrease from the previous year. Analysts from H.C. Wainwright have adjusted Ekso Bionics’ stock price target from $9.00 to $4.00, maintaining a Buy rating, primarily due to a decline in enterprise revenue attributed to customer budget cuts. Additionally, Ekso Bionics has announced a reverse stock split at a 1-for-15 ratio, effective June 2, 2025, to comply with Nasdaq’s minimum bid price requirement. This move aims to reduce the number of outstanding shares from approximately 35.5 million to about 2.4 million. The company continues to focus on expanding its distribution network and maintaining strong gross margins despite the revenue challenges. Ekso Bionics remains optimistic about a potential recovery in enterprise sales from integrated delivery networks later this year, contingent on macroeconomic improvements. The firm is also considering cost-saving measures to address financial challenges if necessary.
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