Ekso Bionics Holdings Inc (EKSO)

[Rhetorical]

New to the board? Here's why Ekso is different from other exoskeleton competitors:

Back when Nathan Harding was CEO, he described the technology like this.

“We were looking at soldiers who carry heavy loads for long periods of time in uncertain conditions. We looked at how difficult it was for load carriage exoskeletons at that time to carry more than just their own power supply. We decided what was really needed was an exoskeleton architecture that distributed weight down to the ground without consuming any power to do so. That was novel. It meant that power could be used for other things, like helping a soldier walk, rather than holding up the load. Our first prototype of that technology consumed three orders of magnitude less power than the system before it. That innovation built our reputation and gave us the opportunity to help people walk who couldn’t.”

...

So he was saying his system is 1000 times more efficient (physics people say 3 orders of magnitude to describe this) than the previous competitor when it came out. This is largely possible because Russ Angold's application of hydraulics whereas most competitors use electromotors. Obviously others are making strides to catch up, but I think it's Ekso that will be able to address the construction market better than competitors based on their understanding of efficiency. I'd also venture so far as to say it's why DARPA selected them for contracts, but this is only a guess.

The amount of physics involved is remarkable. Exoskeletons that do not have a predesigned walking pattern and instead follow human motion must plot trajectories and respond to human movements by sensing and reacting hundreds of times per second (or at least this is true in ekso's case). Furthermore to do it efficiently is an added complexity (so probably automatically repositioning the exoskeleton under the load instead of holding things at high torque angles where the loads are far away from the feet is involved).

Not having the entire structure fall over when stepping on a rock is an added complexity. I can barely even begin to imagine the complexities involved with having super-human capabilities for something like their military grade TALOS contracts. Weighing so much can't make things simple.

Ekso's at the front line solving these problems because of their DARPA contracts. The work they do there will translate into advances in their other products almost certainly. In my view they are the smartest people on the market with the best exoskeleton, even though it may not walk the fastest.

Ekso had a reverse split and a good amount of stock dilution, but overall their debt levels are very low and I don't think their dilution is more than industry norms for high growth companies *although it's been painful*

Their current exoskeleton is probably too expensive to sell in extremely high numbers, but they are working on a next generation home model that will probably be at a much lower cost. I'm pretty confident in the saleability of this product if it's launched in a reasonable amount of time and the company doesn't get delisted from the NASDAQ. That being said, we've only been below $4 for a fairly short amount of time and we're already on CNBC which is helping us recover. I can also see a bunch of events on the horizon which will likely increase share price. For one, the 2017 veterans appropriations bill I've heard will fund fund stroke treatment for veterans and so far Ekso is the only FDA approved exoskeleton for stroke therapy currently - so perhaps it means the government will buy some EKSO's. Another big event on the horizon for me is TALOS release in 2018.

If you want to learn more about TALOS and Warrior Web, look at Ekso's press releases. Here is the most recent one regarding warrior web:

http://ir.eksobionics.com/press-releases/detail/566/ekso-bionics-selected-for-development-of-next-generation

DISCLOSURE: I'm long EKSO.