Growth stock expert Keith Fitz-Gerald, editor of Total Wealth, sees a favorite off-the-radar opportunity in the specialty high technology field of bionics.

Early-stage companies like Ekso Bionics (EKSO) take time to develop. They do not suddenly spring forth from nothing. Investing in them is very much a journey rather than a destination like everybody believes.

In contrast to a few years ago when I first started following the company and it was little more than a seed-stage opportunity, Ekso is now a commercially-viable operating entity with an FDA-approved device in its toolbox.

That makes Ekso the first and only exoskeleton company approved for stroke victims, in addition to more conventional spinal injuries.

It gives the company a significant competitive advantage. What’s really important to keep in mind at the moment is that Ekso continues to perform as expected and that its executives are hitting some really impressive milestones:

  • The Medical Division sold ten Ekso GT units during the first quarter 2016, and as of March 31st, 2016, had sold or rented over 180 medical units to various VA hospitals, clinics, and rehabilitation centers both in the US and Europe.
  • Ekso was awarded a contract to develop an exoskeleton for DARPA’s Warrior Web program, but now it’s been tapped a fourth time to continue development.

As part of that, Ekso will engage Under Armour (UA) as a subcontractor to test the system’s durability and the ability to be manufactured at scale.

  • The Industrial division sold 25 demonstration devices to a major distributor of construction equipment that remains confidential for now.

These systems are intended to support huge industrial markets by augmenting human capabilities. This is an important milestone because the deal represents the first time Ekso Works has sold products directly to customers.

There is no doubt in my mind that other deals will follow as early proof-of-concept sales pay off.

Selected financial highlights include a jump in medical device revenue to $8.1 million compared to $1.0 million a year prior, and gross profits of $1.5 million compared to only $0.4 million in the first quarter of 2015. That means the company is on the cusp of additional profitability.

I hear all the time from concerned investors how “small” those numbers are and that always makes my eyebrows shoot up. Isn’t that what makes investing potentially so profitable? Buy low and sell high.

Ekso continues make progress as expected and I remain absolutely convinced that we've latched on to it for the right reasons and at the right time.

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By Keith Fitz-Gerald, Editor of Total Wealth