Quarterly report pursuant to Section 13 or 15(d)

Note 17 - Segment Disclosures

v3.23.3
Note 17 - Segment Disclosures
 9 Months Ended
Sep. 30, 2023
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]

17.         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 margin. 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, 2023

                        

Revenue

   $ 4,388     $ 219     $ 4,607  

Cost of revenue

     2,006       145       2,151  

Gross profit

   $ 2,382     $ 74     $ 2,456  
                         

Three months ended September 30, 2022

                        

Revenue

   $ 3,224     $ 105     $ 3,329  

Cost of revenue

     1,524       119       1,643  

Gross profit

   $ 1,700     $ (14 )   $ 1,686  

 

 

   

EksoHealth

    

EksoWorks

    

Total

  

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  
                         

Nine months ended September 30, 2022

                        

Revenue

   $ 8,333     $ 1,028     $ 9,361  

Cost of revenue

     4,170       655       4,825  

Gross profit

   $ 4,163     $ 373     $ 4,536  

 

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, 2023 and 2022 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,

  
   

2023

    

2022

    

2023

    

2022

  

Americas

                                

United States

   $ 3,099     $ 1,475     $ 9,741     $ 4,889  

Other

     138       73       149       249  

Americas revenue

     3,237       1,548       9,890       5,138  
                                 

EMEA

                                

Poland

     496       (41 )     1,007       527  

Romania

     —       449       475       449  

Germany

     23       237       318       487  

Other

     527       413       864       945  

EMEA revenue

     1,046       1,058       2,664       2,408  
                                 

APAC

                                

Hong Kong

     178       —       475       485  

Indonesia

     —       668       —       668  

Other

     146       55       403       662  

APAC revenue

     324       723       878       1,815  
                                 

Total Revenue

   $ 4,607     $ 3,329     $ 13,432     $ 9,361