Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2023 | Mar. 01, 2024 | Jun. 30, 2023 | |
Document Information [Line Items] | |||
Entity Central Index Key | 0001549084 | ||
Entity Registrant Name | EKSO BIONICS HOLDINGS, INC. | ||
Amendment Flag | false | ||
Current Fiscal Year End Date | --12-31 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2023 | ||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Period End Date | Dec. 31, 2023 | ||
Document Transition Report | false | ||
Entity File Number | 001-37854 | ||
Entity Incorporation, State or Country Code | NV | ||
Entity Tax Identification Number | 99-0367049 | ||
Entity Address, Address Line One | 101 Glacier Point, Suite A | ||
Entity Address, City or Town | San Rafael | ||
Entity Address, State or Province | CA | ||
Entity Address, Postal Zip Code | 94901 | ||
City Area Code | 510 | ||
Local Phone Number | 984-1761 | ||
Title of 12(b) Security | Common Stock, $0.001 par value | ||
Trading Symbol | EKSO | ||
Security Exchange Name | NASDAQ | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Small Business | true | ||
Entity Emerging Growth Company | false | ||
ICFR Auditor Attestation Flag | false | ||
Document Financial Statement Error Correction [Flag] | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 18,715,751 | ||
Entity Common Stock, Shares Outstanding | 17,903,128 | ||
Auditor Name | WithumSmith+Brown, PC | ||
Auditor Location | San Francisco, California | ||
Auditor Firm ID | 100 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Current assets: | ||
Cash and restricted cash | $ 8,638 | $ 20,525 |
Accounts receivable, net of allowances of $79 and $40, respectively | 5,645 | 4,625 |
Inventories | 5,050 | 5,187 |
Prepaid expenses and other current assets | 875 | 700 |
Total current assets | 20,208 | 31,037 |
Property and equipment, net | 2,018 | 2,680 |
Right-of-use assets | 977 | 1,307 |
Intangible assets, net | 4,892 | 5,217 |
Goodwill | 431 | 431 |
Other assets | 392 | 231 |
Total assets | 28,918 | 40,903 |
Current liabilities: | ||
Accounts payable | 1,847 | 3,151 |
Accrued liabilities | 2,664 | 2,278 |
Deferred revenues, current | 1,993 | 1,121 |
Notes payable, current | 1,250 | 2,310 |
Lease liabilities, current | 363 | 341 |
Total current liabilities | 8,117 | 9,201 |
Deferred revenues | 2,169 | 1,032 |
Notes payable, net | 4,832 | 3,767 |
Lease liabilities | 723 | 1,087 |
Warrant liabilities | 366 | 233 |
Other non-current liabilities | 105 | 141 |
Total liabilities | 16,312 | 15,461 |
Commitments and contingencies (Note 16) | ||
Stockholders' equity: | ||
Convertible preferred stock, $0.001 par value; 10,000 shares authorized; no shares issued and outstanding as of December 31, 2023 and 2022 | 0 | 0 |
Common stock, $0.001 par value; 141,429 shares authorized; 14,848 and 13,203 shares issued and outstanding as of December 31, 2023 and 2022, respectively | 15 | 13 |
Additional paid-in capital | 251,580 | 248,813 |
Accumulated other comprehensive income | 156 | 563 |
Accumulated deficit | (239,145) | (223,947) |
Total stockholders' equity | 12,606 | 25,442 |
Total liabilities and stockholders' equity | $ 28,918 | $ 40,903 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - USD ($) shares in Thousands, $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Allowance for doubtful accounts | $ 79 | $ 40 |
Preferred Stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred Stock, shares authorized (in shares) | 10,000 | 10,000 |
Preferred Stock, shares issued (in shares) | 0 | 0 |
Preferred Stock, shares outstanding (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, authorized (in shares) | 141,429 | 141,429 |
Common stock, issued (in shares) | 14,848 | 13,203 |
Common stock, outstanding (in shares) | 14,848 | 13,203 |
Consolidated Statements of Oper
Consolidated Statements of Operations and Comprehensive Loss - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Revenue | $ 18,279 | $ 12,912 |
Cost of revenue | 9,200 | 6,698 |
Gross profit | 9,079 | 6,214 |
Operating expenses: | ||
Sales and marketing | 8,472 | 7,157 |
Research and development | 5,025 | 3,626 |
General and administrative | 10,694 | 10,987 |
Total operating expenses | 24,191 | 21,770 |
Loss from operations | (15,112) | (15,556) |
Other (expense) income, net: | ||
Interest expense, net | (302) | (156) |
(Loss) gain on revaluation of warrant liabilities | (133) | 1,317 |
Unrealized gain (loss) on foreign exchange | 412 | (655) |
Other expense, net | (63) | (30) |
Total other (expense) income, net | (86) | 476 |
Net loss | (15,198) | (15,080) |
Foreign currency translation adjustments | (407) | 580 |
Comprehensive loss | $ (15,605) | $ (14,500) |
Net loss per share applicable to common shareholders, basic and diluted (in dollars per share) | $ (1.1) | $ (1.16) |
Weighted average number of shares outstanding, basic and diluted (in shares) | 13,867 | 12,962 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | AOCI Attributable to Parent [Member] | Retained Earnings [Member] | Total |
Balance (in shares) at Dec. 31, 2021 | 0 | 12,693 | ||||
Balance at Dec. 31, 2021 | $ 0 | $ 13 | $ 246,090 | $ (17) | $ (208,867) | $ 37,219 |
Net loss | $ 0 | $ 0 | 0 | 0 | (15,080) | (15,080) |
Equity incentive plan (in shares) | 0 | 442 | ||||
Matching contribution to 401(k) plan (in shares) | 0 | 68 | ||||
Matching contribution to 401(k) plan | $ 0 | $ 0 | 177 | 0 | 0 | 177 |
Stock-based compensation | 0 | 0 | 2,546 | 0 | 0 | 2,546 |
Foreign currency translation adjustments | $ 0 | $ 0 | 0 | 580 | 0 | 580 |
Balance (in shares) at Dec. 31, 2022 | 0 | 13,203 | ||||
Balance at Dec. 31, 2022 | $ 0 | $ 13 | 248,813 | 563 | (223,947) | 25,442 |
Net loss | $ 0 | $ 0 | 0 | 0 | (15,198) | (15,198) |
Equity incentive plan (in shares) | 0 | 1,033 | ||||
Matching contribution to 401(k) plan (in shares) | 0 | 161 | ||||
Matching contribution to 401(k) plan | $ 0 | $ 1 | 249 | 0 | 0 | 250 |
Stock-based compensation | 0 | 0 | 1,858 | 0 | 0 | 1,858 |
Foreign currency translation adjustments | $ 0 | $ 0 | 0 | (407) | 0 | (407) |
ATM offering, net of commission and issuance costs of $28 (in shares) | 0 | 451 | ||||
ATM offering, net of commission and issuance costs of $28 | $ 0 | $ 1 | 660 | 0 | 0 | 661 |
Balance (in shares) at Dec. 31, 2023 | 0 | 14,848 | ||||
Balance at Dec. 31, 2023 | $ 0 | $ 15 | $ 251,580 | $ 156 | $ (239,145) | $ 12,606 |
Consolidated Statements of St_2
Consolidated Statements of Stockholders' Equity (Parentheticals) $ in Thousands | 12 Months Ended |
Dec. 31, 2023 USD ($) | |
Adjustments to Additional Paid in Capital, Stock Issued, Issuance Costs | $ 28 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Operating activities | ||
Net loss | $ (15,198) | $ (15,080) |
Adjustments to reconcile net loss to net cash used in operating activities | ||
Depreciation and amortization | 1,698 | 887 |
Changes in allowance for doubtful accounts | 72 | 33 |
Common stock contribution to 401(k) plan | 378 | 186 |
Stock-based compensation expense | 1,858 | 2,546 |
Loss (gain) on revaluation of warrant liabilities | 133 | (1,317) |
Other adjustments | 0 | (18) |
Unrealized (gain) loss on foreign currency transactions | (412) | 655 |
Changes in operating assets and liabilities: | ||
Accounts receivable | (1,208) | (67) |
Inventories | 232 | (1,400) |
Prepaid expenses and other assets current and noncurrent | (158) | (303) |
Accounts payable | (1,307) | (102) |
Accrued, lease and other current and noncurrent liabilities | (134) | (197) |
Deferred revenues | 1,992 | (511) |
Net cash used in operating activities | (12,054) | (14,688) |
Investing activities | ||
Payment in connection with acquisition | 0 | (5,000) |
Acquisition of property and equipment | (157) | (194) |
Proceeds from sales of equipment | 0 | 19 |
Net cash used in investing activities | (157) | (5,175) |
Financing activities | ||
Principal payments under note payable | (313) | 0 |
Proceeds from issuance of common stock, net | 661 | 0 |
Net cash provided by financing activities | 348 | 0 |
Effect of exchange rate changes on cash | (24) | (18) |
Net decrease in cash | (11,887) | (19,881) |
Cash and restricted cash at beginning of the year | 20,525 | 40,406 |
Cash and restricted cash at end of the year | 8,638 | 20,525 |
Supplemental disclosure of cash flow activities | ||
Cash paid for interest | 191 | 126 |
Cash paid for income taxes | 45 | 13 |
Supplemental disclosure of non-cash activities | ||
Share issuance for common stock contribution to 401(k) plan | 250 | 176 |
Transfer of inventory (from) to property and equipment | (82) | 385 |
Issuance of promissory note, net in connection with acquisition | 0 | 4,055 |
(Adjustment to) initial recognition of operating lease liabilities and right of use assets | $ (10) | $ 1,459 |
Note 1 - Organization
Note 1 - Organization | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Business Description and Basis of Presentation [Text Block] | 1. Description of Business Ekso Bionics Holdings, Inc. (the “Company”) designs, develops, and markets exoskeleton products to augment human strength, endurance and mobility. The Company’s exoskeleton technology serves multiple markets and can be utilized both by able-bodied users and by persons with physical disabilities. The Company has marketed devices that (i) enable individuals with neurological conditions affecting gait, including acquired brain injury ("ABI") and multiple sclerosis ("MS"), and spinal cord injury ("SCI"), to rehabilitate and to walk again, (ii) assist individuals with a broad range of upper extremity impairments, and (iii) allow industrial workers to perform difficult repetitive work for extended periods. Founded in 2005, On December 5, 2022, Unless otherwise indicated, all dollar and share amounts included in these notes to the consolidated financial statements are in thousands. Liquidity and Going Concern As of December 31, 2023 December 31, 2023 December 31, 2023 As described in Note 10. Notes Payable, net December 31, 2023 December 31, 2023 Our expectation to generate operating losses and negative operating cash flows in the future and the need for additional funding to support our planned operations raise substantial doubt regarding our ability to continue as a going concern for a period of one one no 12 The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and satisfaction of liabilities in the ordinary course of business. The financial statements do not |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies and Estimates | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 2. Principles of Consolidation and Basis of Presentation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States ("U.S. GAAP"). All significant intercompany transactions and balances have been eliminated in consolidation. Use of Estimates The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the balance sheet, and the reported amounts of revenues and expenses during the reporting period. For the Company, these estimates include, but are not Foreign Currency The assets and liabilities of foreign subsidiaries and equity investments, where the local currency is the functional currency, are translated from their respective functional currencies into U.S. dollars at the rates in effect at the balance sheet date and revenue and expense amounts are translated at average rates during the period, with resulting foreign currency translation adjustments recorded in accumulated other comprehensive income as a component of stockholders’ equity. Gains and losses from the re-measurement of balances denominated in currencies other than the entities' functional currencies, are recorded in other expense, net in the accompanying consolidated statements of operations and comprehensive loss. Accumulated Other Comprehensive Income (Loss) The Company's accumulated other comprehensive income (loss) consists of the accumulated net unrealized gains or losses on foreign currency translation adjustments. The change in accumulated other comprehensive income presented on the consolidated balance sheets for the year ended December 31, 2023 Accumulated Other Comprehensive Income (Loss) Balance as of December 31, 2021 $ (17 ) Net unrealized gain on foreign currency translation 580 Balance as of December 31, 2022 563 Net unrealized loss on foreign currency translation (407 ) Balance as of December 31, 2023 $ 156 Concentration of Credit Risk and Other Risks and Uncertainties Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and accounts receivable. The Company has significant cash balances at financial institutions which throughout the year regularly exceed the federally insured limit of $250. not Accounts receivable are derived from the sale of products shipped and services performed for customers primarily located in the U.S., Europe, Asia, and Australia. Invoices are aged based on contractual terms with the customer. The Company reviews accounts receivable for collectability and provides an allowance for potential credit losses. The allowance for potential credit losses on trade receivables reflects the Company’s best estimate of probable losses inherent in the accounts receivable balance based on known troubled accounts, historical experience, and other currently available evidence. Payment terms and conditions vary by contract type, although terms generally include a requirement of payment within 30 90 not December 31, 2023 2022 Many of the sales contracts with customers outside of the U.S. are settled in a foreign currency other than the U.S. dollar. The Company does not not The Company had no 10% December 31, 2023 December 31, 2022 The Company had one customer with sales of 10% December 31, 2023 2022 Inventories Inventories are recorded at the lower of cost or net realizable value. Cost is computed using the standard cost method, which approximates actual cost on a first first Inventories consisted of the following: December 31, 2023 2022 Raw materials $ 4,298 $ 3,837 Work in progress 290 487 Finished goods 462 863 Inventories $ 5,050 $ 5,187 Leases The Company records its leases in accordance with the Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") Topic 842, Leases not may Lease expense is recognized over the expected lease term on a straight-line basis. Operating leases are recognized on the balance sheet as right-of-use assets, lease liabilities current and lease liabilities non-current. Leases with an initial term of 12 not Property and Equipment, net Property and equipment are stated at cost less accumulated depreciation and are depreciated on a straight-line basis over the estimated useful lives of the assets, generally ranging from three ten The Company assesses the impairment of long-lived assets whenever events or changes in circumstances indicate that their carrying value may not None December 31, 2023 2022 December 31, 2023 2022 Goodwill The Company records goodwill when the purchase price of an acquisition exceeds the fair value of the net tangible and identified intangible assets acquired. The Company performs an annual impairment assessment, or more frequently if indicators of potential impairment exist, which includes evaluating qualitative and quantitative factors to assess the likelihood of an impairment of goodwill. Such indicators include, among others, material departures from projected sales volume, deteriorating gross margins, and uncertainties regarding continued commercialization as a result of changing business strategies. The Company determined no impairment existed for the years ended December 31, 2023 December 31, 2022 Intangible Assets Other intangible assets include developed technology, acquired intellectual property, and customer relationships, in the case of finite-lived intangibles, and trade names in the case of indefinite-lived intangibles. Finite-lived intangibles are amortized over their estimated useful lives and are tested for impairment whenever events or changes in circumstances indicate that the carrying value of the assets may not The Company determined no impairment existed for the year ended December 31, 2023 December 31, 2022 Warrant Valuation The Company generally accounts for warrants issued in connection with debt and equity financings as a component of equity, unless the warrants include a conditional obligation to issue a variable number of shares or there is a deemed possibility that it may Where there is a possibility that the Company may Going Concern The Company assesses its ability to continue as a going concern in accordance with ASC 205 40, Presentation of Financial Statements Going Concern Revenue Recognition The Company records its revenue in accordance with ASC 606, Revenue from Contracts with Customers five For multiple-element arrangements, revenue is allocated to each performance obligation based on its relative standalone selling price. Standalone selling prices are determined based on observable prices at which the Company separately sells its products or services. If a standalone selling price is not The Company exercised judgement to determine that a product return reserve was not not Research and Development Research and development costs consist of costs incurred for internal research and development activities. These costs primarily include salaries and other personnel-related expenses, contractor fees, prototype materials, facility costs, supplies, and depreciation of equipment associated with the design and development of new products prior to the establishment of their technological feasibility. Such costs are expensed as incurred. Income Taxes The Company accounts for income taxes using the asset and liability method. Under this method, income tax expense or benefit is recognized for the amount of taxes payable or refundable for the current year and for deferred tax liabilities and assets for the future tax consequences of events that have been recognized in the Company's consolidated financial statements or tax returns. The Company accounts for any income tax contingencies in accordance with accounting guidance for income taxes. The measurement of current and deferred tax assets and liabilities is based on provisions of currently enacted tax laws. The effects of any future changes in tax laws or rates have not not Stock-based Compensation The Company measures stock-based compensation expense for stock options granted to employees and directors based on the estimated fair value of the award on the date of grant and recognizes the fair value on a straight-line basis over the requisite service periods of the awards. The Company determines the fair value of stock options on the date of grant using the Black-Scholes Model, which is affected by the Company’s stock price and assumptions regarding a number of subjective variables. These variables include, but are not 14. The Company measures stock-based compensation expense for restricted stock units (“RSUs”) and performance stock units ("PSUs") made to employees and directors based on the Company’s closing stock price on the date of grant and recognizes the value on a straight-line basis over the requisite service periods of the awards. The Company records compensation expense for service-based awards on a straight-line basis over the requisite service period, which is generally the vesting period of the award. For awards with performance-based conditions, at the point that it becomes probable that the performance conditions will be met, the Company records a cumulative catch-up of the expense from the grant date to the current date, and then amortizes the remainder of the expense over the remaining service period. Management evaluates when the achievement of a performance-based condition is probable based on the expected satisfaction of the performance conditions as of the reporting date. The amount of stock-based compensation expense recognized during a period is based on the value of the portion of the awards that are ultimately expected to vest. The Company accounts for forfeitures as they occur. The Company has, from time to time, modified the terms of its stock options to certain employees and directors. The Company accounts for the incremental increase in the fair value over the original award on the date of the modification as an expense for vested awards or over the remaining service (vesting) period for unvested awards. The incremental compensation cost is the excess of the fair value of the modified award on the date of modification over the fair value of the original award immediately before the modification. Accounting Pronouncements Adopted in 2023 In June 2016, No. 2016 13, Financial Instruments-Credit Losses (Topic 326 2018 19, 2019 04, 2019 05 2019 10, not 2016 13 January 1, 2023, 2016 13 not Recent Accounting Pronouncements In August 2020, No. 2020 06, Accounting for Convertible Instruments and Contracts in an Entity's Own Equity 2020 06 may first 2024 not 2020 06 |
Note 3 - Net Loss Per Share of
Note 3 - Net Loss Per Share of Common Stock | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 3. Basic net loss per share of common stock is computed using the weighted average number of shares of common stock outstanding during the period. Diluted net loss per share is computed, when applicable, using the weighted average number of shares of common stock, adjusted to include conversion of "in-the-money" stock options and warrants for common stock and release of common stock in connection with restricted stock units during the period, net of tax as follows: Years ended December 31, 2023 2022 Numerator: Net loss $ (15,198 ) $ (15,080 ) Adjustment for gain on fair value of warrant liability — — Adjusted net loss used for dilution calculation $ (15,198 ) $ (15,080 ) Denominator Weighted-average number of shares outstanding 13,867 12,962 Effect of potential dilutive shares — — Dilutive weighted-average number of shares outstanding 13,867 12,962 Net loss per share, basic and diluted $ (1.10 ) $ (1.16 ) The following table sets forth potential shares of common stock that are not Years ended December 31, 2023 2022 Options to purchase common stock 252 270 Restricted stock units 1,305 1,383 Warrants for common stock 1,240 1,240 Total common stock equivalents 2,797 2,893 |
Note 4 - Human Motion and Contr
Note 4 - Human Motion and Control Acquisition | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | 4. On December 5, 2022, The assets purchased by the Company include intellectual property related to the aforementioned Ekso Indego devices and future products in the orthotics and prosthetics space, inventories related to the Ekso Indego product line, fixed assets configured for the manufacture of the Ekso Indego products, and Ekso Indego devices maintained for service and sales demonstrations. The Company did not As consideration for the assets acquired, the Company (i) paid the Parker $5,000 in cash and (ii) delivered to the Parker a $5,000 unsecured, subordinated zero percent interest promissory note (the “Promissory Note”). Under the terms of the Promissory Note, the Company shall pay the Parker sixteen first December 31, 2023, September 30, 2027. 10. Notes Payable, Net 10 The Company accounted for the acquisition as a business combination in accordance with ASC 805, no 805, one December 31, 2023 no The following table summarizes the fair values of the assets acquired, liabilities assumed and consideration given as of the acquisition date: Inventories $ 1,935 Fixed assets 1,599 Intangible assets 5,240 Goodwill 431 Total assets $ 9,205 Accrued royalties 150 Total liabilities $ 150 Net assets acquired $ 9,055 Cash delivered on date of close $ 5,000 Fair value of promissory note 4,055 Total consideration $ 9,055 The fair value of finished goods inventories acquired was estimated at retail selling price less estimated costs to sell and a reasonable profit allowance for the selling effort. The fair value of raw materials acquired was estimated using current prices from suppliers. The fair value of fixed assets was estimated using a cost approach, adjusting historical gross asset values for inflation, reduced for the remaining estimated economic life of the assets. The fair values of intangible assets were estimated using a relief from royalty method, the excess earnings method, and a distributor method, all income approaches, which required significant estimates from management regarding future sales expectations, long term operating margins, the weighted average cost of capital or other appropriate discount rates, and royalty rates. The fair value of the promissory note was estimated as the present value of scheduled principal payments discounted at the Company's estimated borrowing rate. The Company recorded $5,240 to intangible assets as of the acquisition date and is amortizing the value of the developed technology, customer relationships and intellectual property over a weighted average estimated useful life of 8 December 31, 2023 Aggregate incremental revenues and net loss attributable to the acquired business included in the consolidated statement of operations for the year ended December 31, 2022 January 1, 2022: Year Ended December 31, (Unaudited) 2022 Revenue $ 15,736 Net loss $ (18,506 ) Such pro forma results are based on historical results of the Company, and the historical results of HMC as they occurred under the ownership of Parker Hannifin Corporation, and certain pro forma adjustments relating to interest for debt discount amortization, depreciation of fixed assets and amortization of certain intangible assets. |
Note 5 - Fair Value Measurement
Note 5 - Fair Value Measurement | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 5. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. Three levels of inputs, of which the first two may • Level 1 • Level 2 1 not • Level 3 no 3 The Company’s fair value hierarchies for its financial assets and liabilities which require fair value measurement on a recurring basis are as follows: Total Level 1 Level 2 Level 3 December 31, 2023 Liabilities Warrant liabilities $ 366 $ — $ — $ 366 December 31, 2022 Liabilities Warrant liabilities $ 233 $ — $ — $ 233 During the years ended December 31, 2023 2022 no 1, 2, 3 not The following table sets forth a summary of the changes in the fair value of Company’s Level 3 December 31, 2023 Warrant Liability Balance as of December 31, 2021 $ 1,550 Gain on revaluation of warrants issued in 2021, June 2020, December 2019, and May 2019 equity financings (1,317 ) Balance as of December 31, 2022 $ 233 Loss on revaluation of warrants issued in 2021, June 2020, December 2019, and May 2019 equity financings 133 Balance as of December 31, 2023 $ 366 See Note 13 Capitalization and Equity Structure Warrants |
Note 6 - Revenue
Note 6 - Revenue | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | 6. The Company’s medical device segment (EksoHealth) revenue is primarily generated through the sale and subscription of the EksoNR, Ekso Indego Therapy, and Ekso Indego Personal devices along with the sale of support and maintenance contracts. Revenue from medical device product sales is recognized at the point in time when control of the product transfers to the customer. Transfer of control generally occurs upon shipment from the Company’s facility for sales of the EksoNR, Ekso Indego Therapy, and Ekso Indego Personal devices. Support and maintenance contracts extend coverage beyond the Company’s standard warranty agreements ranging from 12 to 48 months. Revenue is recognized evenly over the term of the contracts. Revenue from medical device subscriptions is recognized evenly over the contract term, typically over 24 The Company’s industrial device segment (EksoWorks) revenue is primarily generated through the sale of the upper body exoskeleton EVO and associated accessories. Revenue from industrial device sales is recognized at the point in time when control of the product transfers to the customer. Transfer of control generally occurs upon shipment from the Company’s facility. In June 2022, Deferred Revenue Deferred revenue is comprised mainly of unearned revenue related to extended support and maintenance contracts, but also includes other offerings for which the Company has been paid in advance and earns revenue when the Company transfers control of the product or service. Deferred revenue consisted of the following: December 31, 2023 December 31, 2022 Deferred extended maintenance and support $ 3,993 $ 2,124 Deferred device and advances 169 29 Total deferred revenues 4,162 2,153 Less current portion (1,993 ) (1,121 ) Deferred revenues, non-current $ 2,169 $ 1,032 On September 25, 2023, Deferred revenue activity consisted of the following for the years ended December 31, 2023 December 31, 2022 Year Ended December 31, 2023 Year Ended December 31, 2022 Beginning balance $ 2,153 $ 2,695 Deferral of revenue 4,727 1,397 Recognition of deferred revenue (2,718 ) (1,939 ) Ending balance $ 4,162 $ 2,153 The Company expects to recognize approximately $1,993 of the deferred revenue during 2024 2025 thereafter In addition to deferred revenue, the Company has a non-cancellable backlog of $1,511, expected to be recognized between 2024 2026, not twenty-four Disaggregation of Revenue The following table disaggregates the Company’s revenue by major source for the year ended December 31, 2023 EksoHealth EksoWorks Total Device revenue $ 13,660 $ 472 $ 14,132 Service and support 2,821 — 2,821 Subscriptions 967 — 967 Parts and other 254 105 359 $ 17,702 $ 577 $ 18,279 The following table disaggregates the Company’s revenue by major source for the year ended December 31, 2022 EksoHealth EksoWorks Total Device revenue $ 8,305 $ 588 $ 8,893 Service and support 1,923 — 1,923 Subscriptions 967 136 1,103 Parts and other 528 358 886 Collaborative arrangements 107 — 107 $ 11,830 $ 1,082 $ 12,912 |
Note 7 - Property and Equipment
Note 7 - Property and Equipment, Net | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | 7. Property and equipment, net consisted of the following: Estimated December 31, Life (Years) 2023 2022 Company-owned device fleet 2 - 5 $ 2,828 $ 3,468 Software 3 - 5 234 234 Leasehold improvement 5 179 142 Furniture, office and leased equipment 3 - 7 279 279 Machinery and equipment 3 - 7 236 207 Tools, molds, dies and jigs 3 - 5 1,418 1,347 5,174 5,677 Accumulated depreciation and amortization (3,156 ) (2,997 ) Property and equipment, net $ 2,018 $ 2,680 Depreciation expense of property and equipment, net totaled $726 and $486 for the years ended December 31, 2023 2022 |
Note 8 - Accrued Liabilities
Note 8 - Accrued Liabilities | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Current [Text Block] | 8. Accrued liabilities consisted of the following: December 31, 2023 2022 Salaries, benefits and related expenses $ 2,058 $ 1,843 Device warranty 461 274 Other 145 161 Total $ 2,664 $ 2,278 Warranty Sales of devices generally include an initial warranty for parts and services for one two one two may may December 31, 2023 2022 Warranty 2023 2022 Balance at beginning of the period $ 413 $ 270 Additions for estimated future expense 619 425 Incurred costs (466 ) (282 ) Balance at end of the period $ 566 $ 413 Current portion $ 461 $ 274 Long-term portion 105 139 Total $ 566 $ 413 |
Note 9 - Goodwill and Intangibl
Note 9 - Goodwill and Intangible Assets | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | 9. Goodwill The Company determined no December 31, 2023 Intangible Assets The following table summarizes the components of gross assets, accumulated amortization, and net carrying values for definite and indefinite lived intangible asset balances as of December 31, 2023 December 31, 2023 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Developed technology $ 2,310 $ (310 ) $ 2,000 Trade name 2,310 N/A 2,310 Intellectual property 460 — 460 Customer relationships 140 (18 ) 122 Below market lease 20 (20 ) — Total intangible assets $ 5,240 $ (348 ) $ 4,892 Definite lived intangible assets are amortized over their estimated lives using the straight line method, which is estimated as eight twelve eight one no no December 31, 2023 The estimated future amortization expenses related to definite lived intangible assets as of December 31, 2023 Fiscal Year Amount 2024 $ 306 2025 345 2026 345 2027 345 Thereafter 1,241 Total $ 2,582 |
Note 10 - Notes Payable, Net
Note 10 - Notes Payable, Net | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Long-Term Debt [Text Block] | 10. PWB Term Loan In August 2020, first The Company was required to pay accrued interest on the current loan on the 13th August 13, 2023, August 17, 2023, August 13, 2026 470, The PWB Loan Agreement contains a liquidity covenant, which requires that the Company maintain cash in accounts of the lender or subject to control agreements in favor of the lender in an amount equal to at least the outstanding balance of the PWB Term Loan, which was $2,000 as of December 31, 2023 December 31, 2023 The interest rate of the PWB Term Loan is subject to increase in the event of late payment and after occurrence of and during the continuation of an event of default. The Company may The debt issuance costs and debt discounts combined with the stated interest resulted in an effective interest rate of 8.81% for the year ended December 31, 2023 December 31, 2023 2022 The following table presents scheduled principal payments of the Company's PWB term loan as of December 31, 2023 Period Amount 2026 $ 2,000 Total principal payments 2,000 Less debt discount and issuance costs (6 ) Note payable, net $ 1,994 Current portion $ — Long-term portion 1,994 Note payable, net $ 1,994 Parker Hannifin Promissory Note In connection with the HMC Acquisition, on December 5, 2022, December 31, 2023 September 30, 2027. 4. The Promissory Note, upon the occurrence of an event of default, allows for the levying of interest equal to the lesser of (a) 5% per annum and (b) the maximum interest rate permitted under applicable law on the then entire outstanding principal balance, and also for the acceleration of all outstanding liabilities and obligations, making them immediately payable. Under the terms of the Promissory Note, the following occurrences constitute a default, and could, upon written notice or declaration by Parker, allow for the levying of interest and or the acceleration of principal outstanding: (i) failure to pay any amount of the principal when due and payable, (ii) the dissolution of the Company (including the declaration of bankruptcy), and (iii) the acquisition of the Company by another entity or the sale of substantially all of its assets to another entity. The Company recorded the Promissory Note of $4,055 in its consolidated balance sheets under the captions Notes payable, current and Notes payable, net, estimating an implicit discount rate of 7.5% via reference to the interest charged on the Company's PWB Term Loan and other relevant economic factors present at the execution date of the Promissory Note. The amortization of debt discounts resulted in an effective interest rate of 7.18% for the year ended December 31, 2023 December 31, 2023 2022, The following table presents scheduled principal payments of the Promissory Note as of December 31, 2023 Period Amount 2024 $ 1,250 2025 1,250 2026 1,250 2027 938 Total principal payments 4,688 Less debt discount (600 ) Note payable, net $ 4,088 Current portion 1,250 Long-term portion 2,838 Note payable, net $ 4,088 |
Note 11 - Lease Obligations
Note 11 - Lease Obligations | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | 11. The Company maintained a five May 2022. August 2022, In July 2022, October 2026 three August 2022, The Company has determined that the new San Rafael Lease constitutes an operating lease under ASC 842 July 2022 October 2026. three The Company previously maintained a five July 2022. February 2022, May 1, 2022 June 30, 2025 one five two The Company has determined that the new Hamburg lease agreement constitutes a lease under ASC 842 May 2022 June 2025. five The Company’s future lease payments as of December 31, 2023 Operating Period Leases 2024 $ 436 2025 417 2026 363 Total lease payments 1,216 Less: imputed interest (130 ) Present value of lease liabilities $ 1,086 Lease liabilities, current $ 363 Lease liabilities 723 Total lease liabilities $ 1,086 Weighted-average remaining term (in years) 2.7 Weighted-average discount rate 8.2 % Lease expense under the Company’s operating leases was $548 and $605, for the years ended December 31, 2023 2022 |
Note 12 - Employee Benefit Plan
Note 12 - Employee Benefit Plan | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Retirement Benefits [Text Block] | 12. The Company administers a 401 401 may 401 401 December 31, 2023 2022 |
Note 13 - Capitalization and Eq
Note 13 - Capitalization and Equity Structure | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Equity [Text Block] | 13. Summary The Company’s authorized capital stock as of December 31, 2023 December 31, 2023 Common Stock The holders of outstanding shares of common stock are entitled to receive dividends out of assets or funds legally available for the payment of dividends at such times and in such amounts as the Board of Directors may one no not not At the Market Offering In October 2020, may may 415 may 3 No. 333 272607 June 20, 2023, July 28, 2028 ( may may June 2023, may not December 31, 2023 December 31, 2023 Preferred Stock The Company may one no may Warrants Warrants outstanding as of December 31, 2023 December 31, 2022 Exercise Remaining term Source Price (Years) December 31, 2022 December 31, 2023 2021 Warrants $ 12.81 2.1 273 273 June 2020 Investor Warrants $ 5.18 1.9 127 127 June 2020 Placement Agent Warrants $ 5.64 1.4 39 39 December 2019 Warrants $ 8.10 1.5 556 556 December 2019 Placement Agent Warrants $ 8.44 1.0 52 52 May 2019 Warrants $ 3.52 0.4 193 193 1,240 1,240 No warrants were exercised during the years ended December 31, 2023 2022 . December 31, 2023 2021 In February 2021, 2021 2021 five February 11, 2026. In addition, the 2021 2021 2021 not may 2021 2021 2021 The 2021 2021 2021 30 2021 2021 five 2021 The warrant liability related to the 2021 3 2021 December 31, 2023 December 31, 2022 Current share price $ 2.50 $ 1.19 Conversion price $ 12.81 $ 12.81 Risk-free interest rate 4.20 % 4.21 % Expected term (years) 2.11 3.11 Volatility of stock 76.5 % 99.6 % June 2020 In June 2020, June 2020 June 2020 five one December 10, 2025. In addition, the June 2020 June 2020 June 2020 not may June 2020 June 2020 The June 2020 The June 2020 June 2020 June 2020 June 2020 June 2020 June 2020 30 June 2020 June 2020 June 2020 The warrant liability related to the June 2020 3 June 2020 December 31, 2023 December 31, 2022 Current share price $ 2.50 $ 1.19 Conversion price $ 5.18 $ 5.18 Risk-free interest rate 4.26 % 4.23 % Expected term (years) 1.94 2.94 Volatility of stock 78.2 % 99.6 % June 2020 In June 2020, June 2020 June 2020 June 2020 June 7, 2025. Because of the put-option provision in the June 2020 The warrant liability related to the June 2020 3 June 2020 December 31, 2023 December 31, 2022 Current share price $ 2.50 $ 1.19 Conversion price $ 5.64 $ 5.64 Risk-free interest rate 4.54 % 4.33 % Expected term (years) 1.44 2.44 Volatility of stock 83.0 % 73.5 % December 2019 In December 2019, "December 2019 "December 2019 December 2019 five June 21, 2025. The December 2019 December 2019 December 2019 December 2019 December 2019 30 December 2019 December 2019 five December 2019 The warrant liability related to the December 2019 3 December 2019 December 31, 2023 December 31, 2022 Current share price $ 2.50 $ 1.19 Conversion price $ 8.10 $ 8.10 Risk-free interest rate 4.53 % 4.32 % Expected term (years) 1.47 2.47 Volatility of stock 82.3 % 73.3 % December 2019 In December 2019, December 2019 "December 2019 December 2019 December 2019 December 18, 2025. The warrant liability related to the December 2019 3 December 2019 December 31, 2023 December 31, 2022 Current share price $ 2.50 $ 1.19 Conversion price $ 8.44 $ 8.44 Risk-free interest rate 4.82 % 4.42 % Expected term (years) 0.97 1.97 Volatility of stock 85.2 % 71.8 % Management has assessed that the likelihood of a Change of Control (as defined in the December 2019 December 2019 May 2019 In May 2019, "May 2019 "May 2019 May 2019 five May 24, 2024. May 2019 May 2019 May 2019 may June 2020 May 2019 x June 2020 June 2020 one five June 8, 2020, In addition, if the Company effects or enters into any issuance of common stock or options or convertible securities exercisable for or convertible into common stock at a price which varies or may May 2019 may, The May 2019 May 2019 May 2019 2019 90 May 2019 two May 2019 The warrant liability related to the May 2019 3 May 2019 May 2019 December 31, 2023 December 31, 2022 Current share price $ 1.88 $ 1.19 Conversion price $ 3.52 $ 3.52 Risk-free interest rate 5.28 % 4.60 % Expected term (years) 0.40 1.40 Volatility of stock 77.5 % 74.5 % Management has assessed that the likelihood of a Change of Control occurring during the term of the warrants is low, and that if such an event were to occur, the difference between the cashless exercise value and the May 2019 25% In connection with the Company entering into a securities purchase agreement in January 2024, May 2019 19. Subsequent Events. |
Note 14 - Stock-based Compensat
Note 14 - Stock-based Compensation | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Share-Based Payment Arrangement [Text Block] | 14. 2014 In 2014, 2014 2014 2014 Original share pool 137 2015 increase 111 2017 increase 67 December 2017 increase (ratified in June 2018) 293 2019 increase 233 March 2020 increase 333 December 2020 increase 800 2022 increase 550 2023 increase 1,200 Total shares authorized for grant as of December 31, 2023 3,724 As of December 31, 2023 2014 2014 January 31, 2024. no may 2014 not Under the terms of the 2014 may one Shares available for future grant as of December 31, 2023 2014 Shares Available For Grant Available as of December 31, 2022 50 Share pool increase 1,200 Granted (1,023 ) Forfeited 32 Expired 18 Available as of December 31, 2023 277 Stock Options The Board of Directors may 2014 not may not ten 2014 2014 four may A summary of the stock option activity during the year ended December 31, 2023 Weighted Weighted Average Average Remaining Aggregate Options Exercise Contractual Intrinsic Outstanding Price Life (Years) Value Outstanding at beginning of year 270 $ 37.96 Forfeited — $ 9.15 Expired (18 ) $ 63.02 Outstanding at end of year 252 $ 36.17 3.49 $ — Vested and expected to vest 252 $ 36.17 3.49 $ — Exercisable at year end 251 $ 36.19 3.48 $ — No stock options were exercised during the years ended December 31, 2023 2022 As no stock options were granted during the years ended December 31, 2023 December 31, 2022 December 31, 2023 2022 As of December 31, 2023 The following table summarizes information about stock options outstanding as of December 31, 2023 Options Outstanding Options Exercisable Weighted-Average Range of Remaining Weighted Weighted Exercise Number of Contractual Life Average Number of Average Prices Shares (Years) Price Shares Price $5.55 - $5.70 71 6.06 $ 5.68 70 $ 5.68 $9.15 - $26.39 63 4.94 $ 17.04 63 $ 17.03 $26.85 - $54.15 74 4.50 $ 31.45 74 $ 31.46 $60.00 - $229.95 44 1.36 $ 120.23 44 $ 120.23 252 4.50 $ 36.17 251 $ 36.19 The Company recognizes compensation expense using the straight-line method over the requisite service period. Restricted Stock Units The Company issues time-based RSUs and PSUs to employees and non-employee members of the Board. Each RSU and PSU represents the right to receive one Combined RSU and PSU activity for the year ended December 31, 2023 Weighted Number of Average Grant- Shares Date Fair Value Unvested as of January 1, 2023 1,383 $ 2.17 Granted 1,023 $ 1.29 Vested (1,069 ) $ 1.96 Forfeited (32 ) $ 1.53 Unvested as of December 31, 2023 1,305 $ 1.67 The total grant-date fair value of RSUs and PSUs that vested during the year ended December 31, 2023 December 31, 2023 Compensation Expense Stock-based compensation is included in the consolidated statements of operations and comprehensive loss in general and administrative, research and development, or sales and marketing expenses, depending upon the nature of services provided. Stock-based compensation expense related to stock options, RSUs and PSUs was recorded as follows: Years Ended December 31, 2023 2022 Sales and marketing $ 260 $ 263 Research and development 423 339 General and administrative 1,175 1,944 $ 1,858 $ 2,546 Employee Stock Purchase Plan The Company has an Employee Stock Purchase Plan, or ESPP. Under the ESPP, the Company has 33 shares of common stock reserved for issuance, subject to adjustment in the event of a stock split, stock dividend, combination or reclassification or similar event. The ESPP allows eligible employees to purchase shares of the Company’s common stock at a discount through payroll deductions of up to 25% of their eligible compensation, subject to any plan limitations. The ESPP provides for six first December 31, 2023 not |
Note 15 - Income Taxes
Note 15 - Income Taxes | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 15. The domestic and foreign components of pre-tax loss for the years ended December 31, 2023 2022 Years Ended December 31, 2023 2022 Domestic $ (13,521 ) $ (13,749 ) Foreign (1,677 ) (1,331 ) Loss before income taxes $ (15,198 ) $ (15,080 ) The Company had no current or deferred federal and state income tax expense or benefit for the years ended December 31, 2023 2022 not not December 31, 2023 2022, December 31, 2023 2022 Years Ended December 31, 2023 2022 Federal tax at statutory rate 21.0 % 21.0 % State tax, net of federal tax effect — — R&D credit 1.1 0.7 Change in valuation allowance (12.5 ) (15.1 ) Unrealized gain on warrant (0.2 ) 1.8 Stock-based compensation (1.7 ) (7.7 ) Other (0.7 ) (1.8 ) Foreign (7.0 ) 1.1 Total tax expense (benefit) — % — % The tax effects of temporary differences and related deferred tax assets and liabilities as of December 31, 2023, 2022 2021 December 31, 2023 2022 Deferred tax assets: Depreciation and other $ 136 $ 249 Net operating loss carryforwards 52,448 48,829 Research and development tax credits 2,219 2,034 Accruals and reserves 311 356 Capitalized research and development costs 1,422 640 Deferred revenue 220 213 Stock compensation expense 1,493 1,670 Lease assets 178 236 Other 50 22 Deferred tax liabilities: Lease liabilities (152 ) (208 ) Prepaid expenses (56 ) (41 ) Less: Valuation allowance (58,269 ) (54,000 ) Net deferred tax asset (liability) $ — $ — The Company’s accounting for deferred taxes involves the evaluation of a number of factors concerning the realizability of the Company’s net deferred tax assets. The Company primarily considered such factors as the Company’s history of operating losses, the nature of the Company’s deferred tax assets, and the timing, likelihood and amount, if any, of future taxable income during the periods in which those temporary differences and carryforwards become deductible. The Company does not not no December 31, 2023 December 31, 2022, December 31, 2018, December 31, 2023 December 31, 2022. 2017 174 December 31, 2021. December 31, 2023 December 31, 2022, March 27, 2020 December 21, 2020, 2021 not December 31, 2023 $196,851. January 1, 2018 2027, 80% 2031, not As of December 31, 2023, 2024. no December 31, 2023, not may 382 December 31, 2023 2022, Years Ended December 31, 2023 2022 Beginning balances as of January 1, 2023 and 2022 $ 716 $ 668 Increase of unrecognized tax benefits taken in prior years 9 — Increase of unrecognized tax benefits related to current year 1,169 48 Ending balances as of December 31, 2023 and 2022 $ 1,894 $ 716 If the Company is able to recognize these uncertain tax positions, the unrecognized tax benefits would not not December 31, 2023. not 12 no 2007 2023 three four 2018 2023 four 2019 2023 four |
Note 16 - Commitments and Conti
Note 16 - Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 16. Commitments Material Contracts The Company has two The Company entered into a research and development collaboration agreement in December 2021 January 2022, In connection with the HMC Acquisition, the Company assumed two The Vanderbilt Exoskeleton License Agreement was entered into as of October 15, 2012 April 29, 2038, The Vanderbilt Knee License Agreement was entered into as of March 1, 2022 February 15, 2041, July 31, 2028 The Company also entered into transitional use agreements with Parker granting the Company access to certain information technology systems and shared services relating to manufacturing facilities in Macedonia, Ohio for twelve one December 31, 2023, no not May 2024, 18 12 six Purchase Obligations The Company purchases components from a variety of suppliers and uses contract manufacturers to provide manufacturing services for its products. Purchase obligations are defined as agreements that are enforceable and legally binding and that specify all significant terms, including: fixed or minimum quantities to be purchased; fixed, minimum or variable price provisions; and the approximate timing of the transaction. The Company had purchase obligations primarily for purchases of inventory and manufacturing related service contracts totaling $2,783 as of December 31, 2023 one may The Company has operating lease commitments totaling $1,216 payable over 35 11. Lease Obligations Other Contractual Obligations The following table summarizes the Company's outstanding contractual obligations, including interest payments, as of December 31, 2023 Payments Due By Period Less than Total one year 1-3 Years 3-5 Years Term loan $ 2,468 $ 174 $ 2,294 $ — Promissory note 4,688 1,250 3,438 — Facility operating leases 1,216 436 780 — Total $ 8,372 $ 1,860 $ 6,512 $ — Contingencies In the normal course of business, the Company is subject to various legal matters. In the opinion of management, the resolution of such matters will not |
Note 17 - Segment Disclosures
Note 17 - Segment Disclosures | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | 17. The Company has two The Company evaluates performance and allocates resources based on segment gross profit margin. The Company does not not Segment reporting information is as follows: EksoHealth EksoWorks Total Year ended December 31, 2023 Revenue $ 17,702 $ 577 $ 18,279 Cost of revenue 8,770 430 9,200 Gross profit $ 8,932 $ 147 $ 9,079 Year ended December 31, 2022 Revenue $ 11,830 $ 1,082 $ 12,912 Cost of revenue 5,949 749 6,698 Gross profit $ 5,881 $ 333 $ 6,214 The Company operates in the following regions: ( 1 2 3 10% December 31, 2023 2022 Year ended December 31, 2023 2022 United States $ 12,500 $ 6,557 Other 495 252 Americas 12,995 6,809 Germany 476 1,002 Poland 1,406 904 Other 1,883 1,943 EMEA 3,765 3,849 APAC 1,519 2,254 $ 18,279 $ 12,912 |
Note 18 - Related Party Transac
Note 18 - Related Party Transactions | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | 18. On February 4, 2023, July 2017. one two The total settlement amount was $325 and paid in cash over fourteen first December 31, 2022. December 31, 2023 2022, |
Note 19 - Subsequent Events
Note 19 - Subsequent Events | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 19. On January 10, 2024, may |
Insider Trading Arrangements
Insider Trading Arrangements | 12 Months Ended |
Dec. 31, 2023 | |
Insider Trading Arr Line Items | |
Material Terms of Trading Arrangement [Text Block] | 9B. None |
Rule 10b5-1 Arrangement Adopted [Flag] | false |
Non-Rule 10b5-1 Arrangement Adopted [Flag] | false |
Rule 10b5-1 Arrangement Terminated [Flag] | false |
Non-Rule 10b5-1 Arrangement Terminated [Flag] | false |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2023 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation and Basis of Presentation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States ("U.S. GAAP"). All significant intercompany transactions and balances have been eliminated in consolidation. |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the balance sheet, and the reported amounts of revenues and expenses during the reporting period. For the Company, these estimates include, but are not |
Foreign Currency Transactions and Translations Policy [Policy Text Block] | Foreign Currency The assets and liabilities of foreign subsidiaries and equity investments, where the local currency is the functional currency, are translated from their respective functional currencies into U.S. dollars at the rates in effect at the balance sheet date and revenue and expense amounts are translated at average rates during the period, with resulting foreign currency translation adjustments recorded in accumulated other comprehensive income as a component of stockholders’ equity. Gains and losses from the re-measurement of balances denominated in currencies other than the entities' functional currencies, are recorded in other expense, net in the accompanying consolidated statements of operations and comprehensive loss. |
Comprehensive Income, Policy [Policy Text Block] | Accumulated Other Comprehensive Income (Loss) The Company's accumulated other comprehensive income (loss) consists of the accumulated net unrealized gains or losses on foreign currency translation adjustments. The change in accumulated other comprehensive income presented on the consolidated balance sheets for the year ended December 31, 2023 Accumulated Other Comprehensive Income (Loss) Balance as of December 31, 2021 $ (17 ) Net unrealized gain on foreign currency translation 580 Balance as of December 31, 2022 563 Net unrealized loss on foreign currency translation (407 ) Balance as of December 31, 2023 $ 156 |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Concentration of Credit Risk and Other Risks and Uncertainties Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and accounts receivable. The Company has significant cash balances at financial institutions which throughout the year regularly exceed the federally insured limit of $250. not Accounts receivable are derived from the sale of products shipped and services performed for customers primarily located in the U.S., Europe, Asia, and Australia. Invoices are aged based on contractual terms with the customer. The Company reviews accounts receivable for collectability and provides an allowance for potential credit losses. The allowance for potential credit losses on trade receivables reflects the Company’s best estimate of probable losses inherent in the accounts receivable balance based on known troubled accounts, historical experience, and other currently available evidence. Payment terms and conditions vary by contract type, although terms generally include a requirement of payment within 30 90 not December 31, 2023 2022 Many of the sales contracts with customers outside of the U.S. are settled in a foreign currency other than the U.S. dollar. The Company does not not The Company had no 10% December 31, 2023 December 31, 2022 The Company had one customer with sales of 10% December 31, 2023 2022 |
Inventory, Policy [Policy Text Block] | Inventories Inventories are recorded at the lower of cost or net realizable value. Cost is computed using the standard cost method, which approximates actual cost on a first first Inventories consisted of the following: December 31, 2023 2022 Raw materials $ 4,298 $ 3,837 Work in progress 290 487 Finished goods 462 863 Inventories $ 5,050 $ 5,187 |
Lessee, Leases [Policy Text Block] | Leases The Company records its leases in accordance with the Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") Topic 842, Leases not may Lease expense is recognized over the expected lease term on a straight-line basis. Operating leases are recognized on the balance sheet as right-of-use assets, lease liabilities current and lease liabilities non-current. Leases with an initial term of 12 not |
Property, Plant and Equipment, Policy [Policy Text Block] | Property and Equipment, net Property and equipment are stated at cost less accumulated depreciation and are depreciated on a straight-line basis over the estimated useful lives of the assets, generally ranging from three ten The Company assesses the impairment of long-lived assets whenever events or changes in circumstances indicate that their carrying value may not None December 31, 2023 2022 December 31, 2023 2022 |
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block] | Goodwill The Company records goodwill when the purchase price of an acquisition exceeds the fair value of the net tangible and identified intangible assets acquired. The Company performs an annual impairment assessment, or more frequently if indicators of potential impairment exist, which includes evaluating qualitative and quantitative factors to assess the likelihood of an impairment of goodwill. Such indicators include, among others, material departures from projected sales volume, deteriorating gross margins, and uncertainties regarding continued commercialization as a result of changing business strategies. The Company determined no impairment existed for the years ended December 31, 2023 December 31, 2022 |
Goodwill and Intangible Assets, Intangible Assets, Policy [Policy Text Block] | Intangible Assets Other intangible assets include developed technology, acquired intellectual property, and customer relationships, in the case of finite-lived intangibles, and trade names in the case of indefinite-lived intangibles. Finite-lived intangibles are amortized over their estimated useful lives and are tested for impairment whenever events or changes in circumstances indicate that the carrying value of the assets may not The Company determined no impairment existed for the year ended December 31, 2023 December 31, 2022 |
Warrant Valuation [Policy Text Block] | Warrant Valuation The Company generally accounts for warrants issued in connection with debt and equity financings as a component of equity, unless the warrants include a conditional obligation to issue a variable number of shares or there is a deemed possibility that it may Where there is a possibility that the Company may |
Going Concern [Policy Text Block] | Going Concern The Company assesses its ability to continue as a going concern in accordance with ASC 205 40, Presentation of Financial Statements Going Concern |
Revenue [Policy Text Block] | Revenue Recognition The Company records its revenue in accordance with ASC 606, Revenue from Contracts with Customers five For multiple-element arrangements, revenue is allocated to each performance obligation based on its relative standalone selling price. Standalone selling prices are determined based on observable prices at which the Company separately sells its products or services. If a standalone selling price is not The Company exercised judgement to determine that a product return reserve was not not |
Research and Development Expense, Policy [Policy Text Block] | Research and Development Research and development costs consist of costs incurred for internal research and development activities. These costs primarily include salaries and other personnel-related expenses, contractor fees, prototype materials, facility costs, supplies, and depreciation of equipment associated with the design and development of new products prior to the establishment of their technological feasibility. Such costs are expensed as incurred. |
Income Tax, Policy [Policy Text Block] | Income Taxes The Company accounts for income taxes using the asset and liability method. Under this method, income tax expense or benefit is recognized for the amount of taxes payable or refundable for the current year and for deferred tax liabilities and assets for the future tax consequences of events that have been recognized in the Company's consolidated financial statements or tax returns. The Company accounts for any income tax contingencies in accordance with accounting guidance for income taxes. The measurement of current and deferred tax assets and liabilities is based on provisions of currently enacted tax laws. The effects of any future changes in tax laws or rates have not not |
Share-Based Payment Arrangement [Policy Text Block] | Stock-based Compensation The Company measures stock-based compensation expense for stock options granted to employees and directors based on the estimated fair value of the award on the date of grant and recognizes the fair value on a straight-line basis over the requisite service periods of the awards. The Company determines the fair value of stock options on the date of grant using the Black-Scholes Model, which is affected by the Company’s stock price and assumptions regarding a number of subjective variables. These variables include, but are not 14. The Company measures stock-based compensation expense for restricted stock units (“RSUs”) and performance stock units ("PSUs") made to employees and directors based on the Company’s closing stock price on the date of grant and recognizes the value on a straight-line basis over the requisite service periods of the awards. The Company records compensation expense for service-based awards on a straight-line basis over the requisite service period, which is generally the vesting period of the award. For awards with performance-based conditions, at the point that it becomes probable that the performance conditions will be met, the Company records a cumulative catch-up of the expense from the grant date to the current date, and then amortizes the remainder of the expense over the remaining service period. Management evaluates when the achievement of a performance-based condition is probable based on the expected satisfaction of the performance conditions as of the reporting date. The amount of stock-based compensation expense recognized during a period is based on the value of the portion of the awards that are ultimately expected to vest. The Company accounts for forfeitures as they occur. The Company has, from time to time, modified the terms of its stock options to certain employees and directors. The Company accounts for the incremental increase in the fair value over the original award on the date of the modification as an expense for vested awards or over the remaining service (vesting) period for unvested awards. The incremental compensation cost is the excess of the fair value of the modified award on the date of modification over the fair value of the original award immediately before the modification. |
New Accounting Pronouncements, Policy [Policy Text Block] | Accounting Pronouncements Adopted in 2023 In June 2016, No. 2016 13, Financial Instruments-Credit Losses (Topic 326 2018 19, 2019 04, 2019 05 2019 10, not 2016 13 January 1, 2023, 2016 13 not Recent Accounting Pronouncements In August 2020, No. 2020 06, Accounting for Convertible Instruments and Contracts in an Entity's Own Equity 2020 06 may first 2024 not 2020 06 |
Note 2 - Summary of Significa_2
Note 2 - Summary of Significant Accounting Policies and Estimates (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Accumulated Other Comprehensive Income (Loss) Balance as of December 31, 2021 $ (17 ) Net unrealized gain on foreign currency translation 580 Balance as of December 31, 2022 563 Net unrealized loss on foreign currency translation (407 ) Balance as of December 31, 2023 $ 156 |
Schedule of Inventory, Current [Table Text Block] | December 31, 2023 2022 Raw materials $ 4,298 $ 3,837 Work in progress 290 487 Finished goods 462 863 Inventories $ 5,050 $ 5,187 |
Note 3 - Net Loss Per Share o_2
Note 3 - Net Loss Per Share of Common Stock (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Years ended December 31, 2023 2022 Numerator: Net loss $ (15,198 ) $ (15,080 ) Adjustment for gain on fair value of warrant liability — — Adjusted net loss used for dilution calculation $ (15,198 ) $ (15,080 ) Denominator Weighted-average number of shares outstanding 13,867 12,962 Effect of potential dilutive shares — — Dilutive weighted-average number of shares outstanding 13,867 12,962 Net loss per share, basic and diluted $ (1.10 ) $ (1.16 ) |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | Years ended December 31, 2023 2022 Options to purchase common stock 252 270 Restricted stock units 1,305 1,383 Warrants for common stock 1,240 1,240 Total common stock equivalents 2,797 2,893 |
Note 4 - Human Motion and Con_2
Note 4 - Human Motion and Control Acquisition (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | Inventories $ 1,935 Fixed assets 1,599 Intangible assets 5,240 Goodwill 431 Total assets $ 9,205 Accrued royalties 150 Total liabilities $ 150 Net assets acquired $ 9,055 Cash delivered on date of close $ 5,000 Fair value of promissory note 4,055 Total consideration $ 9,055 |
Business Acquisition, Pro Forma Information [Table Text Block] | Year Ended December 31, (Unaudited) 2022 Revenue $ 15,736 Net loss $ (18,506 ) |
Note 5 - Fair Value Measureme_2
Note 5 - Fair Value Measurement (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Total Level 1 Level 2 Level 3 December 31, 2023 Liabilities Warrant liabilities $ 366 $ — $ — $ 366 December 31, 2022 Liabilities Warrant liabilities $ 233 $ — $ — $ 233 |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | Warrant Liability Balance as of December 31, 2021 $ 1,550 Gain on revaluation of warrants issued in 2021, June 2020, December 2019, and May 2019 equity financings (1,317 ) Balance as of December 31, 2022 $ 233 Loss on revaluation of warrants issued in 2021, June 2020, December 2019, and May 2019 equity financings 133 Balance as of December 31, 2023 $ 366 |
Note 6 - Revenue (Tables)
Note 6 - Revenue (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block] | December 31, 2023 December 31, 2022 Deferred extended maintenance and support $ 3,993 $ 2,124 Deferred device and advances 169 29 Total deferred revenues 4,162 2,153 Less current portion (1,993 ) (1,121 ) Deferred revenues, non-current $ 2,169 $ 1,032 Year Ended December 31, 2023 Year Ended December 31, 2022 Beginning balance $ 2,153 $ 2,695 Deferral of revenue 4,727 1,397 Recognition of deferred revenue (2,718 ) (1,939 ) Ending balance $ 4,162 $ 2,153 |
Disaggregation of Revenue [Table Text Block] | EksoHealth EksoWorks Total Device revenue $ 13,660 $ 472 $ 14,132 Service and support 2,821 — 2,821 Subscriptions 967 — 967 Parts and other 254 105 359 $ 17,702 $ 577 $ 18,279 EksoHealth EksoWorks Total Device revenue $ 8,305 $ 588 $ 8,893 Service and support 1,923 — 1,923 Subscriptions 967 136 1,103 Parts and other 528 358 886 Collaborative arrangements 107 — 107 $ 11,830 $ 1,082 $ 12,912 |
Note 7 - Property and Equipme_2
Note 7 - Property and Equipment, Net (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | Estimated December 31, Life (Years) 2023 2022 Company-owned device fleet 2 - 5 $ 2,828 $ 3,468 Software 3 - 5 234 234 Leasehold improvement 5 179 142 Furniture, office and leased equipment 3 - 7 279 279 Machinery and equipment 3 - 7 236 207 Tools, molds, dies and jigs 3 - 5 1,418 1,347 5,174 5,677 Accumulated depreciation and amortization (3,156 ) (2,997 ) Property and equipment, net $ 2,018 $ 2,680 |
Note 8 - Accrued Liabilities (T
Note 8 - Accrued Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Accrued Liabilities [Table Text Block] | December 31, 2023 2022 Salaries, benefits and related expenses $ 2,058 $ 1,843 Device warranty 461 274 Other 145 161 Total $ 2,664 $ 2,278 |
Product Maintenance And Warranty [Table Text Block] | Warranty 2023 2022 Balance at beginning of the period $ 413 $ 270 Additions for estimated future expense 619 425 Incurred costs (466 ) (282 ) Balance at end of the period $ 566 $ 413 Current portion $ 461 $ 274 Long-term portion 105 139 Total $ 566 $ 413 |
Note 9 - Goodwill and Intangi_2
Note 9 - Goodwill and Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | December 31, 2023 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Developed technology $ 2,310 $ (310 ) $ 2,000 Trade name 2,310 N/A 2,310 Intellectual property 460 — 460 Customer relationships 140 (18 ) 122 Below market lease 20 (20 ) — Total intangible assets $ 5,240 $ (348 ) $ 4,892 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | Fiscal Year Amount 2024 $ 306 2025 345 2026 345 2027 345 Thereafter 1,241 Total $ 2,582 |
Note 10 - Notes Payable, Net (T
Note 10 - Notes Payable, Net (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Maturities of Long-Term Debt [Table Text Block] | Period Amount 2026 $ 2,000 Total principal payments 2,000 Less debt discount and issuance costs (6 ) Note payable, net $ 1,994 Current portion $ — Long-term portion 1,994 Note payable, net $ 1,994 Period Amount 2024 $ 1,250 2025 1,250 2026 1,250 2027 938 Total principal payments 4,688 Less debt discount (600 ) Note payable, net $ 4,088 Current portion 1,250 Long-term portion 2,838 Note payable, net $ 4,088 |
Note 11 - Lease Obligations (Ta
Note 11 - Lease Obligations (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block] | Operating Period Leases 2024 $ 436 2025 417 2026 363 Total lease payments 1,216 Less: imputed interest (130 ) Present value of lease liabilities $ 1,086 Lease liabilities, current $ 363 Lease liabilities 723 Total lease liabilities $ 1,086 Weighted-average remaining term (in years) 2.7 Weighted-average discount rate 8.2 % |
Note 13 - Capitalization and _2
Note 13 - Capitalization and Equity Structure (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | Exercise Remaining term Source Price (Years) December 31, 2022 December 31, 2023 2021 Warrants $ 12.81 2.1 273 273 June 2020 Investor Warrants $ 5.18 1.9 127 127 June 2020 Placement Agent Warrants $ 5.64 1.4 39 39 December 2019 Warrants $ 8.10 1.5 556 556 December 2019 Placement Agent Warrants $ 8.44 1.0 52 52 May 2019 Warrants $ 3.52 0.4 193 193 1,240 1,240 |
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] | December 31, 2023 December 31, 2022 Current share price $ 2.50 $ 1.19 Conversion price $ 12.81 $ 12.81 Risk-free interest rate 4.20 % 4.21 % Expected term (years) 2.11 3.11 Volatility of stock 76.5 % 99.6 % December 31, 2023 December 31, 2022 Current share price $ 2.50 $ 1.19 Conversion price $ 5.18 $ 5.18 Risk-free interest rate 4.26 % 4.23 % Expected term (years) 1.94 2.94 Volatility of stock 78.2 % 99.6 % December 31, 2023 December 31, 2022 Current share price $ 2.50 $ 1.19 Conversion price $ 5.64 $ 5.64 Risk-free interest rate 4.54 % 4.33 % Expected term (years) 1.44 2.44 Volatility of stock 83.0 % 73.5 % December 31, 2023 December 31, 2022 Current share price $ 2.50 $ 1.19 Conversion price $ 8.10 $ 8.10 Risk-free interest rate 4.53 % 4.32 % Expected term (years) 1.47 2.47 Volatility of stock 82.3 % 73.3 % December 31, 2023 December 31, 2022 Current share price $ 2.50 $ 1.19 Conversion price $ 8.44 $ 8.44 Risk-free interest rate 4.82 % 4.42 % Expected term (years) 0.97 1.97 Volatility of stock 85.2 % 71.8 % December 31, 2023 December 31, 2022 Current share price $ 1.88 $ 1.19 Conversion price $ 3.52 $ 3.52 Risk-free interest rate 5.28 % 4.60 % Expected term (years) 0.40 1.40 Volatility of stock 77.5 % 74.5 % |
Note 14 - Stock-based Compens_2
Note 14 - Stock-based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Share-Based Payment Arrangement, Activity [Table Text Block] | Original share pool 137 2015 increase 111 2017 increase 67 December 2017 increase (ratified in June 2018) 293 2019 increase 233 March 2020 increase 333 December 2020 increase 800 2022 increase 550 2023 increase 1,200 Total shares authorized for grant as of December 31, 2023 3,724 Shares Available For Grant Available as of December 31, 2022 50 Share pool increase 1,200 Granted (1,023 ) Forfeited 32 Expired 18 Available as of December 31, 2023 277 |
Share-Based Payment Arrangement, Option, Activity [Table Text Block] | Weighted Weighted Average Average Remaining Aggregate Options Exercise Contractual Intrinsic Outstanding Price Life (Years) Value Outstanding at beginning of year 270 $ 37.96 Forfeited — $ 9.15 Expired (18 ) $ 63.02 Outstanding at end of year 252 $ 36.17 3.49 $ — Vested and expected to vest 252 $ 36.17 3.49 $ — Exercisable at year end 251 $ 36.19 3.48 $ — |
Share-Based Payment Arrangement, Option, Exercise Price Range [Table Text Block] | Options Outstanding Options Exercisable Weighted-Average Range of Remaining Weighted Weighted Exercise Number of Contractual Life Average Number of Average Prices Shares (Years) Price Shares Price $5.55 - $5.70 71 6.06 $ 5.68 70 $ 5.68 $9.15 - $26.39 63 4.94 $ 17.04 63 $ 17.03 $26.85 - $54.15 74 4.50 $ 31.45 74 $ 31.46 $60.00 - $229.95 44 1.36 $ 120.23 44 $ 120.23 252 4.50 $ 36.17 251 $ 36.19 |
Schedule of Unvested Restricted Stock Units Roll Forward [Table Text Block] | Weighted Number of Average Grant- Shares Date Fair Value Unvested as of January 1, 2023 1,383 $ 2.17 Granted 1,023 $ 1.29 Vested (1,069 ) $ 1.96 Forfeited (32 ) $ 1.53 Unvested as of December 31, 2023 1,305 $ 1.67 |
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | Years Ended December 31, 2023 2022 Sales and marketing $ 260 $ 263 Research and development 423 339 General and administrative 1,175 1,944 $ 1,858 $ 2,546 |
Note 15 - Income Taxes (Tables)
Note 15 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] | Years Ended December 31, 2023 2022 Domestic $ (13,521 ) $ (13,749 ) Foreign (1,677 ) (1,331 ) Loss before income taxes $ (15,198 ) $ (15,080 ) |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Years Ended December 31, 2023 2022 Federal tax at statutory rate 21.0 % 21.0 % State tax, net of federal tax effect — — R&D credit 1.1 0.7 Change in valuation allowance (12.5 ) (15.1 ) Unrealized gain on warrant (0.2 ) 1.8 Stock-based compensation (1.7 ) (7.7 ) Other (0.7 ) (1.8 ) Foreign (7.0 ) 1.1 Total tax expense (benefit) — % — % |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | December 31, 2023 2022 Deferred tax assets: Depreciation and other $ 136 $ 249 Net operating loss carryforwards 52,448 48,829 Research and development tax credits 2,219 2,034 Accruals and reserves 311 356 Capitalized research and development costs 1,422 640 Deferred revenue 220 213 Stock compensation expense 1,493 1,670 Lease assets 178 236 Other 50 22 Deferred tax liabilities: Lease liabilities (152 ) (208 ) Prepaid expenses (56 ) (41 ) Less: Valuation allowance (58,269 ) (54,000 ) Net deferred tax asset (liability) $ — $ — |
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] | Years Ended December 31, 2023 2022 Beginning balances as of January 1, 2023 and 2022 $ 716 $ 668 Increase of unrecognized tax benefits taken in prior years 9 — Increase of unrecognized tax benefits related to current year 1,169 48 Ending balances as of December 31, 2023 and 2022 $ 1,894 $ 716 |
Note 16 - Commitments and Con_2
Note 16 - Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Contractual Obligation, Fiscal Year Maturity [Table Text Block] | Payments Due By Period Less than Total one year 1-3 Years 3-5 Years Term loan $ 2,468 $ 174 $ 2,294 $ — Promissory note 4,688 1,250 3,438 — Facility operating leases 1,216 436 780 — Total $ 8,372 $ 1,860 $ 6,512 $ — |
Note 17 - Segment Disclosures (
Note 17 - Segment Disclosures (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | EksoHealth EksoWorks Total Year ended December 31, 2023 Revenue $ 17,702 $ 577 $ 18,279 Cost of revenue 8,770 430 9,200 Gross profit $ 8,932 $ 147 $ 9,079 Year ended December 31, 2022 Revenue $ 11,830 $ 1,082 $ 12,912 Cost of revenue 5,949 749 6,698 Gross profit $ 5,881 $ 333 $ 6,214 |
Revenue from External Customers by Geographic Areas [Table Text Block] | Year ended December 31, 2023 2022 United States $ 12,500 $ 6,557 Other 495 252 Americas 12,995 6,809 Germany 476 1,002 Poland 1,406 904 Other 1,883 1,943 EMEA 3,765 3,849 APAC 1,519 2,254 $ 18,279 $ 12,912 |
Note 1 - Organization (Details
Note 1 - Organization (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Retained Earnings (Accumulated Deficit) | $ (239,145) | $ (223,947) |
Net Cash Provided by (Used in) Operating Activities | (12,054) | $ (14,688) |
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents | 8,638 | |
Debt Covenant, Covenant Compliance, Unrestricted Cash | 2,000 | |
Unrestricted Cash | $ 6,638 |
Note 2 - Summary of Significa_3
Note 2 - Summary of Significant Accounting Policies and Estimates (Details Textual) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 USD ($) | Dec. 31, 2022 USD ($) | |
Tangible Asset Impairment Charges | $ 0 | $ 0 |
Goodwill, Impairment Loss | 0 | $ 0 |
Impairment of Intangible Assets (Excluding Goodwill) | $ 0 | |
Minimum [Member] | ||
Property, Plant and Equipment, Useful Life (Year) | 3 years | |
Maximum [Member] | ||
Property, Plant and Equipment, Useful Life (Year) | 10 years | |
Customer Concentration Risk [Member] | Accounts Receivable [Member] | ||
Number Of Customers | 1 | |
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Customer A [Member] | ||
Concentration Risk, Percentage | 15% | 10% |
Note 2 - Summary of Significa_4
Note 2 - Summary of Significant Accounting Policies and Estimates - Schedule of Accumulated Other Comprehensive Gain (Loss) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Balance | $ 25,442 | $ 37,219 |
Balance | 12,606 | 25,442 |
AOCI Attributable to Parent [Member] | ||
Balance | 563 | (17) |
Net unrealized gain on foreign currency translation | (407) | 580 |
Balance | $ 156 | $ 563 |
Note 2 - Summary of Significa_5
Note 2 - Summary of Significant Accounting Policies and Estimates - Schedule of Inventory (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Raw materials | $ 4,298 | $ 3,837 |
Work in progress | 290 | 487 |
Finished goods | 462 | 863 |
Inventories | $ 5,050 | $ 5,187 |
Note 3 - Net Loss Per Share o_3
Note 3 - Net Loss Per Share of Common Stock - Computation of Basic and Diluted Net Loss per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Net loss | $ (15,198) | $ (15,080) |
Adjustment for gain on fair value of warrant liability | 0 | 0 |
Adjusted net loss used for dilution calculation | $ (15,198) | $ (15,080) |
Weighted average number of shares outstanding, basic and diluted (in shares) | 13,867 | 12,962 |
Effect of potential dilutive shares (in shares) | 0 | 0 |
Dilutive weighted-average number of shares outstanding (in shares) | 13,867 | 12,962 |
Net loss per share, basic and diluted (in dollars per share) | $ (1.1) | $ (1.16) |
Note 3 - Net Loss Per Share o_4
Note 3 - Net Loss Per Share of Common Stock - Schedule of Antidilutive Securities (Details) - shares shares in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Antidilutive Securities (in shares) | 2,797 | 2,893 |
Share-Based Payment Arrangement, Option [Member] | ||
Antidilutive Securities (in shares) | 252 | 270 |
Restricted Stock [Member] | ||
Antidilutive Securities (in shares) | 1,305 | 1,383 |
Warrant [Member] | ||
Antidilutive Securities (in shares) | 1,240 | 1,240 |
Note 4 - Human Motion and Con_3
Note 4 - Human Motion and Control Acquisition (Details Textual) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended | ||
Dec. 05, 2022 | Sep. 30, 2023 | Dec. 31, 2023 | Dec. 31, 2022 | |
Payments to Acquire Businesses, Gross | $ 0 | $ 5,000 | ||
Goodwill | 431 | 431 | ||
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual | 103 | |||
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual | $ 289 | |||
Human Motion And Control [Member] | ||||
Payments to Acquire Businesses, Gross | $ 5,000 | 5,000 | ||
Business Combination, Consideration Transferred, Liabilities Incurred | 4,055 | |||
Business Combination, Consideration Transferred | 9,055 | 9,055 | ||
Goodwill | 431 | 431 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 5,240 | |||
Acquired Finite-Lived Intangible Assets, Weighted Average Useful Life (Year) | 8 years | |||
Amortization of Intangible Assets | $ 325 | |||
Business Acquisition, Goodwill, Expected Tax Deductible Amount | $ 0 | |||
Human Motion And Control [Member] | Subordinated Debt [Member] | ||||
Business Combination, Consideration Transferred, Liabilities Incurred | $ 5,000 | |||
Debt Instrument, Interest Rate, Stated Percentage | 0% | |||
Debt Instrument, Periodic Payment, Number of Installments | 16 | |||
Debt Instrument, Periodic Payment | $ 313 |
Note 4 - Human Motion and Con_4
Note 4 - Human Motion and Control Acquisition - Schedule of Assets and Liabilities Acquired (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 05, 2022 | Dec. 31, 2023 | Dec. 31, 2022 | |
Goodwill | $ 431 | $ 431 | |
Cash delivered on date of close | 0 | $ 5,000 | |
Human Motion And Control [Member] | |||
Inventories | 1,935 | ||
Fixed assets | 1,599 | ||
Intangible assets | 5,240 | ||
Goodwill | $ 431 | 431 | |
Total assets | 9,205 | ||
Accrued royalties | 150 | ||
Total liabilities | 150 | ||
Net assets acquired | 9,055 | ||
Cash delivered on date of close | 5,000 | 5,000 | |
Fair value of promissory note | 4,055 | ||
Total consideration | $ 9,055 | $ 9,055 |
Note 4 - Human Motion and Con_5
Note 4 - Human Motion and Control Acquisition - Pro Forma Information (Details) - Human Motion And Control [Member] $ in Thousands | 12 Months Ended |
Dec. 31, 2023 USD ($) | |
Revenue | $ 15,736 |
Net loss | $ (18,506) |
Note 5 - Fair Value Measureme_3
Note 5 - Fair Value Measurement - Fair Value Hierarchies (Details) - Fair Value, Recurring [Member] - USD ($) | Dec. 31, 2023 | Dec. 31, 2022 |
Warrant liabilities | $ 366 | $ 233 |
Fair Value, Inputs, Level 1 [Member] | ||
Warrant liabilities | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Warrant liabilities | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | ||
Warrant liabilities | $ 366 | $ 233 |
Note 5 - Fair Value Measureme_4
Note 5 - Fair Value Measurement - Changes in Fair Value (Details) - Derivative Financial Instruments, Liabilities [Member] - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Balance | $ 233 | $ 1,550 |
Gain on revaluation of warrants issued in 2021, June 2020, December 2019, and May 2019 equity financings | 133 | (1,317) |
Balance | $ 366 | $ 233 |
Note 6 - Revenue 1 (Details Tex
Note 6 - Revenue 1 (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Sep. 25, 2023 | |
Contract With Customer, Liability, Non-Cancellable Backlog | $ 1,511 | |
Parker [Member] | ||
Deferred Revenue, Warranty Claim Lump Sum | $ 700 | |
Minimum [Member] | Ekso Health [Member] | ||
Contracts With Customer, Accounts Receivable, Payment Terms, Duration (Month) | 12 months | |
Maximum [Member] | ||
Lessor, Operating Lease, Term of Contract (Month) | 24 months | |
Maximum [Member] | Ekso Health [Member] | ||
Contracts With Customer, Accounts Receivable, Payment Terms, Duration (Month) | 48 months |
Note 6 - Revenue 2 (Details Tex
Note 6 - Revenue 2 (Details Textual) $ in Thousands | Dec. 31, 2023 USD ($) |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01 | |
Revenue, Remaining Performance Obligation, Amount | $ 1,993 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year) | 1 year |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01 | |
Revenue, Remaining Performance Obligation, Amount | $ 1,154 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year) | 1 year |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01 | |
Revenue, Remaining Performance Obligation, Amount | $ 1,015 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year) | 1 year |
Note 6 - Revenue - Deferred Rev
Note 6 - Revenue - Deferred Revenue (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Deferred extended maintenance and support | $ 3,993 | $ 2,124 |
Deferred device and advances | 169 | 29 |
Total deferred revenues | 4,162 | 2,153 |
Less current portion | (1,993) | (1,121) |
Deferred revenues, non-current | 2,169 | 1,032 |
Beginning balance | 2,153 | 2,695 |
Deferral of revenue | 4,727 | 1,397 |
Recognition of deferred revenue | (2,718) | (1,939) |
Ending balance | $ 4,162 | $ 2,153 |
Note 6 - Revenue - Disaggregati
Note 6 - Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Revenue | $ 18,279 | $ 12,912 |
Ekso Health [Member] | ||
Revenue | 17,702 | 11,830 |
Ekso Works [Member] | ||
Revenue | 577 | 1,082 |
Product [Member] | ||
Revenue | 14,132 | 8,893 |
Product [Member] | Ekso Health [Member] | ||
Revenue | 13,660 | 8,305 |
Product [Member] | Ekso Works [Member] | ||
Revenue | 472 | 588 |
Service [Member] | ||
Revenue | 2,821 | 1,923 |
Service [Member] | Ekso Health [Member] | ||
Revenue | 2,821 | 1,923 |
Service [Member] | Ekso Works [Member] | ||
Revenue | 0 | 0 |
Subscription [Member] | ||
Revenue | 967 | 1,103 |
Subscription [Member] | Ekso Health [Member] | ||
Revenue | 967 | 967 |
Subscription [Member] | Ekso Works [Member] | ||
Revenue | 0 | 136 |
Product and Service, Other [Member] | ||
Revenue | 359 | 886 |
Product and Service, Other [Member] | Ekso Health [Member] | ||
Revenue | 254 | 528 |
Product and Service, Other [Member] | Ekso Works [Member] | ||
Revenue | $ 105 | 358 |
Collaborative Arrangements [Member] | ||
Revenue | 107 | |
Collaborative Arrangements [Member] | Ekso Health [Member] | ||
Revenue | 107 | |
Collaborative Arrangements [Member] | Ekso Works [Member] | ||
Revenue | $ 0 |
Note 7 - Property and Equipme_3
Note 7 - Property and Equipment, Net (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Depreciation | $ 726 | $ 486 |
Note 7 - Property and Equipme_4
Note 7 - Property and Equipment, Net - Schedule of Property and Equipment, Net (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Property and equipment, gross | $ 5,174 | $ 5,677 |
Accumulated depreciation and amortization | (3,156) | (2,997) |
Property and equipment, net | $ 2,018 | 2,680 |
Minimum [Member] | ||
Property and equipment, useful life (Year) | 3 years | |
Maximum [Member] | ||
Property and equipment, useful life (Year) | 10 years | |
Transportation Equipment [Member] | ||
Property and equipment, gross | $ 2,828 | 3,468 |
Transportation Equipment [Member] | Minimum [Member] | ||
Property and equipment, useful life (Year) | 2 years | |
Transportation Equipment [Member] | Maximum [Member] | ||
Property and equipment, useful life (Year) | 5 years | |
Software and Software Development Costs [Member] | ||
Property and equipment, gross | $ 234 | 234 |
Software and Software Development Costs [Member] | Minimum [Member] | ||
Property and equipment, useful life (Year) | 3 years | |
Software and Software Development Costs [Member] | Maximum [Member] | ||
Property and equipment, useful life (Year) | 5 years | |
Leasehold Improvements [Member] | ||
Property and equipment, useful life (Year) | 5 years | |
Property and equipment, gross | $ 179 | 142 |
Office Equipment [Member] | ||
Property and equipment, gross | $ 279 | 279 |
Office Equipment [Member] | Minimum [Member] | ||
Property and equipment, useful life (Year) | 3 years | |
Office Equipment [Member] | Maximum [Member] | ||
Property and equipment, useful life (Year) | 7 years | |
Machinery and Equipment [Member] | ||
Property and equipment, gross | $ 236 | 207 |
Machinery and Equipment [Member] | Minimum [Member] | ||
Property and equipment, useful life (Year) | 3 years | |
Machinery and Equipment [Member] | Maximum [Member] | ||
Property and equipment, useful life (Year) | 7 years | |
Tools, Dies and Molds [Member] | ||
Property and equipment, gross | $ 1,418 | $ 1,347 |
Tools, Dies and Molds [Member] | Minimum [Member] | ||
Property and equipment, useful life (Year) | 3 years | |
Tools, Dies and Molds [Member] | Maximum [Member] | ||
Property and equipment, useful life (Year) | 5 years |
Note 8 - Accrued Liabilities -
Note 8 - Accrued Liabilities - Schedule of Accrued Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Salaries, benefits and related expenses | $ 2,058 | $ 1,843 |
Device warranty | 461 | 274 |
Other | 145 | 161 |
Total | $ 2,664 | $ 2,278 |
Note 8 - Accrued Liabilities _2
Note 8 - Accrued Liabilities - Warrant Liability (Details) - Warranty [Member] - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Balance at beginning of the period | $ 413 | $ 270 |
Additions for estimated future expense | 619 | 425 |
Incurred costs | (466) | (282) |
Balance at end of the period | 566 | 413 |
Current portion | 461 | 274 |
Long-term portion | 105 | 139 |
Total | $ 566 | $ 413 |
Note 9 - Goodwill and Intangi_3
Note 9 - Goodwill and Intangible Assets (Details Textual) | 12 Months Ended |
Dec. 31, 2023 | |
Below Market Lease, Amortization Period (Year) | 1 year |
Developed Technology Rights [Member] | |
Finite-Lived Intangible Asset, Useful Life (Year) | 8 years |
Intellectual Property [Member] | |
Finite-Lived Intangible Asset, Useful Life (Year) | 12 years |
Customer Relationships [Member] | |
Finite-Lived Intangible Asset, Useful Life (Year) | 8 years |
Note 9 - Goodwill and Intangi_4
Note 9 - Goodwill and Intangible Assets - Goodwill and Intangible Assets Balances (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Intangibles, Accumulated Amortization | $ (348) | |
Intangibles, Net Carrying Amount | 2,582 | |
Intangibles, Gross Carrying Amount | 20 | |
Intangibles, Accumulated Amortization | (20) | |
Intangibles, Net Carrying Amount | 0 | |
Intangibles, Gross Carrying Amount | 5,240 | |
Intangibles, Net Carrying Amount | 4,892 | $ 5,217 |
Trade Names [Member] | ||
Intangibles, Gross Carrying Amount | 2,310 | |
Developed Technology Rights [Member] | ||
Intangibles, Gross Carrying Amount | 2,310 | |
Intangibles, Accumulated Amortization | (310) | |
Intangibles, Net Carrying Amount | 2,000 | |
Intellectual Property [Member] | ||
Intangibles, Gross Carrying Amount | 460 | |
Intangibles, Accumulated Amortization | 0 | |
Intangibles, Net Carrying Amount | 460 | |
Customer Relationships [Member] | ||
Intangibles, Gross Carrying Amount | 140 | |
Intangibles, Accumulated Amortization | (18) | |
Intangibles, Net Carrying Amount | $ 122 |
Note 9 - Goodwill and Intangi_5
Note 9 - Goodwill and Intangible Assets - Schedule of Finite Lived Intangible Assets (Details) $ in Thousands | Dec. 31, 2023 USD ($) |
2024 | $ 306 |
2025 | 345 |
2026 | 345 |
2027 | 345 |
Thereafter | 1,241 |
Total | $ 2,582 |
Note 10 - Notes Payable, Net (D
Note 10 - Notes Payable, Net (Details Textual) - USD ($) $ in Thousands | 1 Months Ended | 12 Months Ended | ||
Dec. 05, 2022 | Aug. 30, 2020 | Dec. 31, 2023 | Dec. 31, 2022 | |
Term Loan [Member] | PWB Agreement [Member] | ||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 2,000 | |||
Debt Instrument, Interest Rate, Stated Percentage | 4.50% | |||
Long-Term Debt, Gross | $ 2,000 | |||
Debt Instrument, Covenant Compliance, Maximum Deposits Outside Of United States | $ 1,000 | |||
Line of Credit Facility, Interest Rate During Period | 8.81% | |||
Interest Expense, Debt | $ 173 | $ 119 | ||
Term Loan [Member] | PWB Agreement [Member] | Prime Rate [Member] | ||||
Debt Instrument, Basis Spread on Variable Rate | 0.50% | |||
Subordinated Debt [Member] | Promissory Note [Member] | ||||
Debt Instrument, Basis Spread on Variable Rate | 5% | |||
Debt Instrument, Interest Rate, Stated Percentage | 0% | |||
Long-Term Debt, Gross | 4,688 | |||
Interest Expense, Debt | 320 | $ 25 | ||
Debt Instrument, Face Amount | $ 5,000 | |||
Debt Instrument, Periodic Payment, Number of Installments | 16 | |||
Subordinated Debt | $ 4,055 | |||
Debt Instrument, Discount Rate, Percentage | 7.50% | |||
Debt Instrument, Interest Rate, Effective Percentage | 7.18% |
Note 10 - Notes Payable, Net -
Note 10 - Notes Payable, Net - Schedule of Principle Payments (Details) $ in Thousands | Dec. 31, 2023 USD ($) |
Term Loan [Member] | PWB Agreement [Member] | |
2026 | $ 2,000 |
Long-Term Debt, Gross | 2,000 |
Less debt discount and issuance costs | (6) |
Note payable, net | 1,994 |
Current portion | 0 |
Long-term portion | 1,994 |
2026 | 2,000 |
Total principal payments | 2,000 |
Note payable, net | 1,994 |
Current portion | 0 |
Long-term portion | 1,994 |
Subordinated Debt [Member] | Promissory Note [Member] | |
2026 | 1,250 |
Long-Term Debt, Gross | 4,688 |
Note payable, net | 4,088 |
Current portion | 1,250 |
Long-term portion | 2,838 |
2024 | 1,250 |
2025 | 1,250 |
2026 | 1,250 |
2027 | 938 |
Total principal payments | 4,688 |
Less debt discount | 600 |
Note payable, net | 4,088 |
Current portion | 1,250 |
Long-term portion | $ 2,838 |
Note 11 - Lease Obligations (De
Note 11 - Lease Obligations (Details Textual) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2023 USD ($) | Dec. 31, 2022 USD ($) | Jul. 31, 2022 | Feb. 28, 2022 | |
Operating Lease, Right-of-Use Asset | $ 977 | $ 1,307 | ||
Operating Lease, Liability | 1,086 | |||
Operating Lease, Expense | $ 548 | $ 605 | ||
Richmond California [Member] | ||||
Lessee, Operating Lease, Term of Contract (Year) | 5 years | |||
San Rafael California [Member] | ||||
Lessee, Operating Lease, Renewal Term (Year) | 3 years | 3 years | ||
Hamburg Germany [Member] | ||||
Lessee, Operating Lease, Term of Contract (Year) | 5 years | |||
Lessee, Operating Lease, Renewal Term (Year) | 5 years | |||
Lessee, Operating Lease, Number Of Extension | 1 | |||
Lessee, Operating Lease, Remaining Lease Term (Month) | 2 months | |||
Operating Lease, Right-of-Use Asset | $ 15 | |||
Operating Lease, Liability | $ 16 |
Note 11 - Lease Obligations - S
Note 11 - Lease Obligations - Schedule of Future Lease Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
2024 | $ 436 | |
2025 | 417 | |
2026 | 363 | |
Lessee, Operating Lease, Liability, to be Paid | 1,216 | |
Less: imputed interest | (130) | |
Operating Lease, Liability | 1,086 | |
Lease liabilities, current | 363 | $ 341 |
Lease liabilities | 723 | $ 1,087 |
Total lease liabilities | $ 1,086 | |
Weighted-average remaining term (in years) (Year) | 2 years 8 months 12 days | |
Weighted-average discount rate | 8.20% |
Note 12 - Employee Benefit Pl_2
Note 12 - Employee Benefit Plan (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Defined Contribution Plan, Employer Matching Contribution, Percent of Match | 50% | |
Defined Contribution Plan, Cost | $ 378 | $ 186 |
Note 13 - Capitalization and _3
Note 13 - Capitalization and Equity Structure (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | 1 Months Ended | 12 Months Ended | ||||||||
Feb. 28, 2021 | Oct. 31, 2020 | Jun. 30, 2020 | Dec. 31, 2023 | Dec. 31, 2022 | Jan. 01, 2024 | Jun. 08, 2020 | Dec. 31, 2019 | Jun. 30, 2019 | May 31, 2019 | |
Common Stock, Shares Authorized (in shares) | 141,429,000 | 141,429,000 | ||||||||
Preferred Stock, Shares Authorized (in shares) | 10,000,000 | 10,000,000 | ||||||||
Common Stock, Shares, Outstanding (in shares) | 14,848,000 | 13,203,000 | ||||||||
Preferred Stock, Shares Outstanding (in shares) | 0 | 0 | ||||||||
Sale of Stock, Consideration Received on Transaction | $ 5,000 | |||||||||
Proceeds from Issuance of Common Stock | $ 661 | $ 0 | ||||||||
Class Of Warrant Or Warrants Exercised (in shares) | 0 | |||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 8.06 | |||||||||
Class of Warrant or Right, Outstanding (in shares) | 1,240,000 | 1,240,000 | ||||||||
A2021 Warrants [Member] | ||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 12.81 | $ 12.81 | ||||||||
Class Of Warrant Or Right Issued (in shares) | 273,000 | |||||||||
Class of Warrant or Right Expiration Period (Year) | 5 years | |||||||||
Class of Warrant or Right, Outstanding (in shares) | 273 | 273 | ||||||||
Warrants and Rights Outstanding, Term (Year) | 2 years 1 month 6 days | |||||||||
June 2020 Investor Warrants [Member] | ||||||||||
Shares Issued, Price Per Share (in dollars per share) | $ 4.51 | |||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 5.18 | $ 5.18 | 5.18 | |||||||
Class of Warrant or Right, Outstanding (in shares) | 874,000 | 127 | 127 | |||||||
Class of Warrant or Right Expiration Period (Year) | 5 years 6 months | |||||||||
Warrants and Rights Outstanding, Term (Year) | 1 year 10 months 24 days | |||||||||
June 2020 Placement Agent Warrants [Member] | ||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 5.64 | $ 5.64 | ||||||||
Class Of Warrant Or Right Issued (in shares) | 122,000 | |||||||||
Class of Warrant or Right, Outstanding (in shares) | 39 | 39 | ||||||||
Warrants and Rights Outstanding, Term (Year) | 1 year 4 months 24 days | |||||||||
December 2019 Warrants [Member] | ||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 8.1 | $ 8.1 | ||||||||
Class of Warrant or Right, Outstanding (in shares) | 556 | 556 | 556,000 | |||||||
Warrants and Rights Outstanding, Term (Year) | 1 year 6 months | 5 years | ||||||||
December 2019 Placement Agent Warrants [Member] | ||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 8.44 | $ 8.44 | ||||||||
Class of Warrant or Right, Outstanding (in shares) | 52 | 52 | 52,000 | |||||||
Warrants and Rights Outstanding, Term (Year) | 1 year | |||||||||
May 2019 Warrants [Member] | ||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 3.52 | $ 3.52 | $ 3.52 | |||||||
Class of Warrant or Right, Outstanding (in shares) | 193 | 193 | 444,000 | |||||||
Warrants and Rights Outstanding, Term (Year) | 4 months 24 days | 5 years | ||||||||
May 2019 Warrants [Member] | Subsequent Event [Member] | ||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 1.55 | |||||||||
At the Market Offering [Member] | ||||||||||
Sale of Stock, Price Per Share (in dollars per share) | $ 6.75 | |||||||||
Sale of Stock, Number of Shares Issued in Transaction (in shares) | 451,000 | |||||||||
Shares Issued, Price Per Share (in dollars per share) | $ 1.59 | |||||||||
Proceeds from Issuance of Common Stock | $ 661 | |||||||||
Sale Of Stock, Stock Available For Issuance, Value | $ 4,284 |
Note 13 - Capitalization and _4
Note 13 - Capitalization and Equity Structure - Schedule of Warrant Share Activity (Details) - $ / shares | Dec. 31, 2023 | Feb. 28, 2021 | Jun. 30, 2020 | Jun. 08, 2020 | Dec. 31, 2019 | Jun. 30, 2019 | May 31, 2019 |
Exercise price (in dollars per share) | $ 8.06 | ||||||
A2021 Warrants [Member] | |||||||
Exercise price (in dollars per share) | $ 12.81 | $ 12.81 | |||||
Term (Year) | 2 years 1 month 6 days | ||||||
June 2020 Investor Warrants [Member] | |||||||
Exercise price (in dollars per share) | $ 5.18 | $ 5.18 | $ 5.18 | ||||
Term (Year) | 1 year 10 months 24 days | ||||||
June 2020 Placement Agent Warrants [Member] | |||||||
Exercise price (in dollars per share) | $ 5.64 | $ 5.64 | |||||
Term (Year) | 1 year 4 months 24 days | ||||||
December 2019 Warrants [Member] | |||||||
Exercise price (in dollars per share) | $ 8.1 | $ 8.1 | |||||
Term (Year) | 1 year 6 months | 5 years | |||||
December 2019 Placement Agent Warrants [Member] | |||||||
Exercise price (in dollars per share) | $ 8.44 | $ 8.44 | |||||
Term (Year) | 1 year | ||||||
May 2019 Warrants [Member] | |||||||
Exercise price (in dollars per share) | $ 3.52 | $ 3.52 | $ 3.52 | ||||
Term (Year) | 4 months 24 days | 5 years |
Note 13 - Capitalization and _5
Note 13 - Capitalization and Equity Structure - Schedule of Assumptions used in Black-Scholes Model to Measure Fair Value (Details) | Dec. 31, 2023 | Dec. 31, 2022 |
A2021 Warrants [Member] | Measurement Input, Share Price [Member] | ||
Warrant, measurement input | 2.5 | 1.19 |
A2021 Warrants [Member] | Measurement Input, Conversion Price [Member] | ||
Warrant, measurement input | 12.81 | 12.81 |
A2021 Warrants [Member] | Measurement Input, Risk Free Interest Rate [Member] | ||
Warrant, measurement input | 0.042 | 0.0421 |
A2021 Warrants [Member] | Measurement Input, Expected Term [Member] | ||
Warrant, measurement input | 2.11 | 3.11 |
A2021 Warrants [Member] | Measurement Input, Price Volatility [Member] | ||
Warrant, measurement input | 0.765 | 0.996 |
June 2020 Investor Warrants [Member] | Measurement Input, Share Price [Member] | ||
Warrant, measurement input | 2.5 | 1.19 |
June 2020 Investor Warrants [Member] | Measurement Input, Conversion Price [Member] | ||
Warrant, measurement input | 5.18 | 5.18 |
June 2020 Investor Warrants [Member] | Measurement Input, Risk Free Interest Rate [Member] | ||
Warrant, measurement input | 0.0426 | 0.0423 |
June 2020 Investor Warrants [Member] | Measurement Input, Expected Term [Member] | ||
Warrant, measurement input | 1.94 | 2.94 |
June 2020 Investor Warrants [Member] | Measurement Input, Price Volatility [Member] | ||
Warrant, measurement input | 0.782 | 0.996 |
June 2020 Placement Agent Warrants [Member] | Measurement Input, Share Price [Member] | ||
Warrant, measurement input | 2.5 | 1.19 |
June 2020 Placement Agent Warrants [Member] | Measurement Input, Conversion Price [Member] | ||
Warrant, measurement input | 5.64 | 5.64 |
June 2020 Placement Agent Warrants [Member] | Measurement Input, Risk Free Interest Rate [Member] | ||
Warrant, measurement input | 0.0454 | 0.0433 |
June 2020 Placement Agent Warrants [Member] | Measurement Input, Expected Term [Member] | ||
Warrant, measurement input | 1.44 | 2.44 |
June 2020 Placement Agent Warrants [Member] | Measurement Input, Price Volatility [Member] | ||
Warrant, measurement input | 0.83 | 0.735 |
December 2019 Warrants [Member] | Measurement Input, Share Price [Member] | ||
Warrant, measurement input | 2.5 | 1.19 |
December 2019 Warrants [Member] | Measurement Input, Conversion Price [Member] | ||
Warrant, measurement input | 8.1 | 8.1 |
December 2019 Warrants [Member] | Measurement Input, Risk Free Interest Rate [Member] | ||
Warrant, measurement input | 0.0453 | 0.0432 |
December 2019 Warrants [Member] | Measurement Input, Expected Term [Member] | ||
Warrant, measurement input | 1.47 | 2.47 |
December 2019 Warrants [Member] | Measurement Input, Price Volatility [Member] | ||
Warrant, measurement input | 0.823 | 0.733 |
December 2019 Placement Agent Warrants [Member] | Measurement Input, Share Price [Member] | ||
Warrant, measurement input | 2.5 | 1.19 |
December 2019 Placement Agent Warrants [Member] | Measurement Input, Conversion Price [Member] | ||
Warrant, measurement input | 8.44 | 8.44 |
December 2019 Placement Agent Warrants [Member] | Measurement Input, Risk Free Interest Rate [Member] | ||
Warrant, measurement input | 0.0482 | 0.0442 |
December 2019 Placement Agent Warrants [Member] | Measurement Input, Expected Term [Member] | ||
Warrant, measurement input | 0.97 | 1.97 |
December 2019 Placement Agent Warrants [Member] | Measurement Input, Price Volatility [Member] | ||
Warrant, measurement input | 0.852 | 0.718 |
May 2019 Warrants [Member] | Measurement Input, Share Price [Member] | ||
Warrant, measurement input | 1.88 | 1.19 |
May 2019 Warrants [Member] | Measurement Input, Conversion Price [Member] | ||
Warrant, measurement input | 3.52 | 3.52 |
May 2019 Warrants [Member] | Measurement Input, Risk Free Interest Rate [Member] | ||
Warrant, measurement input | 0.0528 | 0.046 |
May 2019 Warrants [Member] | Measurement Input, Expected Term [Member] | ||
Warrant, measurement input | 0.4 | 1.4 |
May 2019 Warrants [Member] | Measurement Input, Price Volatility [Member] | ||
Warrant, measurement input | 0.775 | 0.745 |
Note 14 - Stock-based Compens_3
Note 14 - Stock-based Compensation (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2014 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized (in shares) | 3,724,000 | ||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period (in shares) | 0 | 0 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares) | 0 | 0 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ 0 | $ 0 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested in Period, Fair Value | $ 58 | $ 428 | |
Defined Contribution Plan, Employer Matching Contribution, Percent of Match | 50% | ||
Restricted Stock Units (RSUs) [Member] | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares) | 1,023,000 | ||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ 1.29 | ||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Vested | $ 1,612 | ||
Share-Based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount | $ 1,383 | ||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 1 year 4 months 17 days | ||
Equity Incentive Plan 2014 [Member] | |||
Common Stock, Capital Shares Reserved for Future Issuance (in shares) | 137,000 | 137,000 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized (in shares) | 3,724,000 | ||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares) | 277,000 | 50,000 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period (Year) | 4 years | ||
Equity Incentive Plan 2014 [Member] | Minimum [Member] | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Purchase Price of Common Stock, Percent | 100% | ||
Equity Incentive Plan 2014 [Member] | Maximum [Member] | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period (Year) | 10 years | ||
Employee Stock Purchase Plan [Member] | |||
Common Stock, Capital Shares Reserved for Future Issuance (in shares) | 33 | ||
Defined Contribution Plan, Employer Matching Contribution, Percent of Match | 25% | ||
Employee Stock Purchase Plan [Member] | End of Offering Period [Member] | |||
Defined Contribution Plan, Employer Matching Contribution, Percent of Match | 85% |
Note 14 - Stock-based Compens_4
Note 14 - Stock-based Compensation - Schedule of Equity Incentive Plan Activity (Details) - shares shares in Thousands | 1 Months Ended | 12 Months Ended | |||||||
Dec. 31, 2020 | Mar. 31, 2020 | Dec. 31, 2017 | Jun. 30, 2017 | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2019 | Dec. 31, 2015 | Dec. 31, 2014 | |
Shares authorized (in shares) | 3,724 | ||||||||
Equity Incentive Plan 2014 [Member] | |||||||||
Shares authorized (in shares) | 137 | 137 | |||||||
Increased in shares authorized (in shares) | 800 | 333 | 293 | 67 | 1,200 | 550 | 233 | 111 | |
Shares authorized (in shares) | 3,724 | ||||||||
Available as of December 31, 2022 (in shares) | 50 | ||||||||
Granted (in shares) | (1,023) | ||||||||
Forfeited (in shares) | 32 | ||||||||
Expired (in shares) | 18 | ||||||||
Available as of December 31, 2023 (in shares) | 277 | 50 |
Note 14 - Stock-based Compens_5
Note 14 - Stock-based Compensation - Stock Option Outstanding (Details) - Equity Incentive Plan 2014 [Member] $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended |
Dec. 31, 2023 USD ($) $ / shares shares | |
Outstanding at beginning of year (in shares) | shares | 270 |
Outstanding, weighted average exercise price (in dollars per share) | $ / shares | $ 37.96 |
Forfeited (in shares) | shares | 0 |
Forfeited, weighted average exercise price (in dollars per share) | $ / shares | $ 9.15 |
Expired (in shares) | shares | (18) |
Expired, weighted average exercise price (in dollars per share) | $ / shares | $ 63.02 |
Outstanding at end of year (in shares) | shares | 252 |
Outstanding, weighted average exercise price (in dollars per share) | $ / shares | $ 36.17 |
Outstanding at end of year (Year) | 3 years 5 months 26 days |
Outstanding at end of year | $ | $ 0 |
Vested and expected to vest (in shares) | shares | 252 |
Vested and expected to vest, weighted average exercise price (in dollars per share) | $ / shares | $ 36.17 |
Vested and expected to vest (Year) | 3 years 5 months 26 days |
Vested and expected to vest | $ | $ 0 |
Exercisable at year end (in shares) | shares | 251 |
Exercisable, weighted average exercise price (in dollars per share) | $ / shares | $ 36.19 |
Exercisable at year end (Year) | 3 years 5 months 23 days |
Exercisable at year end | $ | $ 0 |
Note 14 - Stock-based Compens_6
Note 14 - Stock-based Compensation - Schedule of Options by Exercise Price (Details) shares in Thousands | 12 Months Ended |
Dec. 31, 2023 $ / shares shares | |
Exercise Price Range 1 [Member] | |
Exercise price, minimum (in dollars per share) | $ 5.55 |
Exercise price, maximum (in dollars per share) | $ 5.7 |
Options outstanding, number of shares (in shares) | shares | 71 |
Options outstanding, weighted-average remaining contractual life (Year) | 6 years 21 days |
Options outstanding, weighted average price (in dollars per share) | $ 5.68 |
Options exercisable, number of shares (in shares) | shares | 70 |
Options exercisable, weighted average price (in dollars per share) | $ 5.68 |
Exercise Price Range 2 [Member] | |
Exercise price, minimum (in dollars per share) | 9.15 |
Exercise price, maximum (in dollars per share) | $ 26.39 |
Options outstanding, number of shares (in shares) | shares | 63 |
Options outstanding, weighted-average remaining contractual life (Year) | 4 years 11 months 8 days |
Options outstanding, weighted average price (in dollars per share) | $ 17.04 |
Options exercisable, number of shares (in shares) | shares | 63 |
Options exercisable, weighted average price (in dollars per share) | $ 17.03 |
Exercise Price Range 3 [Member] | |
Exercise price, minimum (in dollars per share) | 26.85 |
Exercise price, maximum (in dollars per share) | $ 54.15 |
Options outstanding, number of shares (in shares) | shares | 74 |
Options outstanding, weighted-average remaining contractual life (Year) | 4 years 6 months |
Options outstanding, weighted average price (in dollars per share) | $ 31.45 |
Options exercisable, number of shares (in shares) | shares | 74 |
Options exercisable, weighted average price (in dollars per share) | $ 31.46 |
Exercise Price Range 4 [Member] | |
Exercise price, minimum (in dollars per share) | 60 |
Exercise price, maximum (in dollars per share) | $ 229.95 |
Options outstanding, number of shares (in shares) | shares | 44 |
Options outstanding, weighted-average remaining contractual life (Year) | 1 year 4 months 9 days |
Options outstanding, weighted average price (in dollars per share) | $ 120.23 |
Options exercisable, number of shares (in shares) | shares | 44 |
Options exercisable, weighted average price (in dollars per share) | $ 120.23 |
Note 14 - Stock-based Compens_7
Note 14 - Stock-based Compensation - RSU and PSU Activity (Details) - $ / shares shares in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Granted (in shares) | 0 | 0 |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ 0 | $ 0 |
Restricted Stock Units (RSUs) [Member] | ||
Balance (in shares) | 1,383 | |
Balance (in dollars per share) | $ 2.17 | |
Granted (in shares) | 1,023 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ 1.29 | |
Vested (in shares) | (1,069) | |
Vested (in dollars per share) | $ 1.96 | |
Forfeited (in shares) | (32) | |
Forfeited (in dollars per share) | $ 1.53 | |
Balance (in shares) | 1,305 | 1,383 |
Balance (in dollars per share) | $ 1.67 | $ 2.17 |
Note 14 - Stock-based Compens_8
Note 14 - Stock-based Compensation - Stock Based Compensation Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Stock based compensation | $ 1,858 | $ 2,546 |
Selling and Marketing Expense [Member] | ||
Stock based compensation | 260 | 263 |
Research and Development Expense [Member] | ||
Stock based compensation | 423 | 339 |
General and Administrative Expense [Member] | ||
Stock based compensation | $ 1,175 | $ 1,944 |
Note 15 - Income Taxes (Details
Note 15 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Current Federal, State and Local, Tax Expense (Benefit) | $ 0 | |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21% | 21% |
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | $ 4,269 | $ 740 |
Effective Income Tax Rate Reconciliation, GILTI, Amount | 0 | 0 |
Deferred Tax Liabilities, Deferred Expense, Capitalized Research and Development Costs | $ 4,700 | 3,300 |
Domestic Tax Authority [Member] | ||
Open Tax Year | 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 | |
Domestic Tax Authority [Member] | Research Tax Credit Carryforward [Member] | ||
Operating Loss Carryforwards | $ 2,365 | |
Domestic Tax Authority [Member] | Generated Before 2018 [Member] | ||
Operating Loss Carryforwards | $ 120,792 | |
Domestic Tax Authority [Member] | Generated After 2017 [Member] | ||
Operating Loss Carryforwards | 76,059 | |
State and Local Jurisdiction [Member] | ||
Operating Loss Carryforwards | $ 128,455 | |
Open Tax Year | 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 | |
State and Local Jurisdiction [Member] | Research Tax Credit Carryforward [Member] | ||
Operating Loss Carryforwards | $ 752 | |
Foreign Tax Authority [Member] | ||
Operating Loss Carryforwards | $ 12,829 | |
Foreign Tax Authority [Member] | Federal Ministry of Finance, Germany [Member] | ||
Open Tax Year | 2018 2019 2020 2021 2022 2023 | |
Foreign Tax Authority [Member] | Inland Revenue, Singapore (IRAS) [Member] | ||
Open Tax Year | 2019 2020 2021 2022 2023 |
Note 15 - Income Taxes - Schedu
Note 15 - Income Taxes - Schedule of Income (Loss) Before Income Taxes (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Domestic | $ (13,521) | $ (13,749) |
Foreign | (1,677) | (1,331) |
Loss before income taxes | $ (15,198) | $ (15,080) |
Note 15 - Income Taxes - Sche_2
Note 15 - Income Taxes - Schedule of Income Tax Reconciliation (Details) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Federal tax at statutory rate | 21% | 21% |
State tax, net of federal tax effect | 0% | 0% |
R&D credit | 1.10% | 0.70% |
Change in valuation allowance | (12.50%) | (15.10%) |
Unrealized gain on warrant | (0.20%) | 1.80% |
Stock-based compensation | (1.70%) | (7.70%) |
Other | (0.70%) | (1.80%) |
Foreign | (7.00%) | 1.10% |
Total tax expense (benefit) | 0% | 0% |
Note 15 - Income Taxes - Sche_3
Note 15 - Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Depreciation and other | $ 136 | $ 249 |
Net operating loss carryforwards | 52,448 | 48,829 |
Research and development tax credits | 2,219 | 2,034 |
Accruals and reserves | 311 | 356 |
Capitalized research and development costs | 1,422 | 640 |
Deferred revenue | 220 | 213 |
Stock compensation expense | 1,493 | 1,670 |
Lease assets | 178 | 236 |
Other | 50 | 22 |
Lease liabilities | (152) | (208) |
Prepaid expenses | (56) | (41) |
Less: Valuation allowance | (58,269) | (54,000) |
Net deferred tax asset (liability) | $ 0 | $ 0 |
Note 15 - Income Taxes - Sche_4
Note 15 - Income Taxes - Schedule of Unrecognizable Tax Benefits (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Beginning balances as of January 1, 2023 and 2022 | $ 716 | $ 668 |
Increase of unrecognized tax benefits taken in prior years | 9 | 0 |
Increase of unrecognized tax benefits related to current year | 1,169 | 48 |
Ending balances as of December 31, 2023 and 2022 | $ 1,894 | $ 716 |
Note 16 - Commitments and Con_3
Note 16 - Commitments and Contingencies (Details Textual) $ in Thousands | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||
Mar. 01, 2022 USD ($) | Oct. 15, 2012 USD ($) | Jun. 30, 2023 | Sep. 30, 2023 USD ($) | Dec. 31, 2023 USD ($) | |
Number Of License Agreements | 2 | ||||
Other Research and Development Expense | $ 20 | ||||
Purchase Obligation | 2,783 | ||||
Long-Term Purchase Commitment, Period (Year) | 1 year | ||||
Lessee, Operating Lease, Liability, to be Paid | 1,216 | ||||
Royalty Agreement Terms [Member] | |||||
Royalty Percentage | 3.75% | ||||
Royalty Expense | $ 75 | $ 250 | $ 100 | ||
Royalty Agreement Terms [Member] | Licensed Patent Products [Member] | |||||
Royalty Percentage | 6% | ||||
Royalty Agreement Terms [Member] | Licensed Software Products [Member] | |||||
Royalty Percentage | 3% | ||||
Access to Information Technology Systems and Shared Services [Member] | |||||
Research and Development Arrangement, Contract to Perform for Others, Costs Incurred, Monthly Payments, Beyond Twelve Months | $ 3 | ||||
Sales Revenue Goods Net Excluding Government Sales [Member] | Royalty Agreement Terms [Member] | |||||
Royalty Percentage | 1% | ||||
License Revenue [Member] | Royalty Agreement Terms [Member] | |||||
Royalty Percentage | 21% |
Note 16 - Commitments and Con_4
Note 16 - Commitments and Contingencies - Schedule of Other Commitments (Details) $ in Thousands | Dec. 31, 2023 USD ($) |
Contractual obligation | $ 8,372 |
Contractual obligation, less than one year | 1,860 |
Contractual obligation, one to three years | 6,512 |
Contractual obligation, three and five years | 0 |
Facility Operating Lease [Member] | |
Contractual obligation | 1,216 |
Contractual obligation, less than one year | 436 |
Contractual obligation, one to three years | 780 |
Contractual obligation, three and five years | 0 |
Term Loan [Member] | |
Contractual obligation | 2,468 |
Contractual obligation, less than one year | 174 |
Contractual obligation, one to three years | 2,294 |
Contractual obligation, three and five years | 0 |
Notes Payable, Other Payables [Member] | |
Contractual obligation | 4,688 |
Contractual obligation, less than one year | 1,250 |
Contractual obligation, one to three years | 3,438 |
Contractual obligation, three and five years | $ 0 |
Note 17 - Segment Disclosures_2
Note 17 - Segment Disclosures (Details Textual) | 12 Months Ended |
Dec. 31, 2023 | |
Number of Reportable Segments | 2 |
Note 17 - Segment Disclosures -
Note 17 - Segment Disclosures - Segment Reporting Information (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Revenue | $ 18,279 | $ 12,912 |
Cost of revenue | 9,200 | 6,698 |
Gross profit | 9,079 | 6,214 |
Ekso Health [Member] | ||
Revenue | 17,702 | 11,830 |
Cost of revenue | 8,770 | 5,949 |
Gross profit | 8,932 | 5,881 |
Ekso Works [Member] | ||
Revenue | 577 | 1,082 |
Cost of revenue | 430 | 749 |
Gross profit | $ 147 | $ 333 |
Note 17 - Segment Disclosures_3
Note 17 - Segment Disclosures - Geographic Information (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Revenue | $ 18,279 | $ 12,912 |
POLAND | ||
Revenue | 1,406 | 904 |
INDONESIA | ||
Revenue | 18,279 | 12,912 |
Ekso Health [Member] | ||
Revenue | 17,702 | 11,830 |
Ekso Health [Member] | UNITED STATES | ||
Revenue | 12,500 | |
Ekso Health [Member] | Americas Other [Member] | ||
Revenue | 495 | |
Ekso Health [Member] | Americas [Member] | ||
Revenue | 12,995 | |
Ekso Health [Member] | GERMANY | ||
Revenue | 476 | |
Ekso Health [Member] | EMEA Other [Member] | ||
Revenue | 1,883 | |
Ekso Health [Member] | EMEA [Member] | ||
Revenue | 3,765 | |
Ekso Health [Member] | Asia Pacific [Member] | ||
Revenue | 1,519 | |
Ekso Works [Member] | ||
Revenue | $ 577 | 1,082 |
Ekso Works [Member] | UNITED STATES | ||
Revenue | 6,557 | |
Ekso Works [Member] | Americas Other [Member] | ||
Revenue | 252 | |
Ekso Works [Member] | Americas [Member] | ||
Revenue | 6,809 | |
Ekso Works [Member] | GERMANY | ||
Revenue | 1,002 | |
Ekso Works [Member] | EMEA Other [Member] | ||
Revenue | 1,943 | |
Ekso Works [Member] | EMEA [Member] | ||
Revenue | 3,849 | |
Ekso Works [Member] | Asia Pacific [Member] | ||
Revenue | $ 2,254 |
Note 18 - Related Party Trans_2
Note 18 - Related Party Transactions (Details Textual) - Angel Pond Capital LLC [Member] - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Related Party Transaction, Amounts of Transaction | $ 325 | |
Related Party Transaction, Payment Term (Year) | 14 years | |
Accounts Payable | $ 60 | $ 325 |
General and Administrative Expense [Member] | ||
Related Party Transaction, Amounts of Transaction | $ 205 | |
Initial Payment1 [Member] | ||
Related Party Transaction, Amounts of Transaction | $ 145 | |
Related Party Transaction, Payment Term (Year) | 40 months | |
Initial Payment [Member] | ||
Related Party Transaction, Amounts of Transaction | $ 15 | |
Initial Payment2 [Member] | ||
Related Party Transaction, Payment Term (Year) | 12 years |
Note 19 - Subsequent Events (De
Note 19 - Subsequent Events (Details Textual) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | ||
Jan. 10, 2024 | Dec. 31, 2023 | Dec. 31, 2022 | |
Proceeds from Issuance of Common Stock | $ 661 | $ 0 | |
Securities Purchase Agreement [Member] | Subsequent Event [Member] | |||
Stock Issued During Period, Shares, New Issues (in shares) | 2,968 | ||
Shares Issued, Price Per Share (in dollars per share) | $ 1.55 | ||
Proceeds from Issuance of Common Stock | $ 3,910 |