Quarterly report pursuant to Section 13 or 15(d)

Note 16 - Segment Disclosures

v3.24.3
Note 16 - Segment Disclosures
9 Months Ended
Sep. 30, 2024
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]

16.         Segment Disclosures

 

The Company has two reportable segments: EksoHealth and EksoWorks. The EksoHealth segment designs, manufactures, and markets exoskeletons for applications in the medical markets. The EksoWorks segment designs, manufactures, and markets exoskeleton devices to allow able-bodied users to perform difficult repetitive work for extended periods. The reportable segments are each managed separately because they serve distinct markets.

 

The Company evaluates performance and allocates resources based on segment gross profit. The Company does not consider operating expenses or net assets as segment measures and, accordingly, are not allocated.

 

Segment reporting information is as follows:

 

   

EksoHealth

   

EksoWorks

   

Total

 

Three months ended September 30, 2024

                       

Revenue

  $ 4,087     $ 42     $ 4,129  

Cost of revenue

    1,834       86       1,920  

Gross profit

  $ 2,253     $ (44 )   $ 2,209  
                         

Three months ended September 30, 2023

                       

Revenue

  $ 4,388     $ 219     $ 4,607  

Cost of revenue

    2,006       145       2,151  

Gross profit

  $ 2,382     $ 74     $ 2,456  

 

   

EksoHealth

   

EksoWorks

   

Total

 

Nine months ended September 30, 2024

                       

Revenue

  $ 12,430     $ 405     $ 12,835  

Cost of revenue

    5,685       353       6,038  

Gross profit

  $ 6,745     $ 52     $ 6,797  
                         

Nine months ended September 30, 2023

                       

Revenue

  $ 13,072     $ 360     $ 13,432  

Cost of revenue

    6,378       344       6,722  

Gross profit

  $ 6,694     $ 16     $ 6,710  

 

The Company operates in the following regions: (1) Americas, (2) Europe, the Middle East, and Africa ("EMEA"), and (3) Asia Pacific ("APAC"). Individual countries with revenue greater than 10% of total revenue for the three and nine months ended September 30, 2024 and 2023 are disclosed separately from the regional totals. Geographic information for revenue based on location of customers is as follows:

 

   

Three Months Ended September 30,

   

Nine Months Ended September 30,

 
   

2024

   

2023

   

2024

   

2023

 

Americas

                               

United States

  $ 1,877     $ 3,099     $ 6,763     $ 9,741  

Other

    18       138       380       149  

Americas revenue

    1,895       3,237       7,143       9,890  
                                 

EMEA

                               

France

    1,067       176       1,935       177  

Poland

    113       496       209       1,007  

Other

    537       374       1,919       1,480  

EMEA revenue

    1,717       1,046       4,063       2,664  
                                 

APAC

                               

Hong Kong

    214       178       335       475  

Other

    303       146       1,294       403  

APAC revenue

    517       324       1,629       878  
                                 

Total Revenue

  $ 4,129     $ 4,607     $ 12,835     $ 13,432