Improved Gross Margin
The company reported a gross margin of approximately 54% for Q1 2025, up from 52% in the same period of 2024, driven by cost savings in supply chain and reduction in service costs.
Reduced Net Loss
Net loss for Q1 2025 was $2.9 million, significantly lower than the net loss of $3.4 million in Q1 2024.
Increased Cash and Restricted Cash
The company reported cash and restricted cash of $8.1 million as of March 31, 2025, up from $6.5 million at the end of 2024.
Personal Health Segment Growth
The CMS pricing determination for the Indigo Personal exoskeleton has created significant opportunities. A pipeline of more than 35 Medicare beneficiaries was developed, a 37% increase from the previous quarter.
New Strategic Partnerships
The company engaged PRIA Healthcare for market access services and announced partnerships with Bionic P&O and National Seating & Mobility to expand distribution for Indigo Personal.