ChronoScale (Ekso) Details Cloud Financials; 9M Rev Down 25%
ChronoScale Corporation, formerly Ekso Bionics Holdings, Inc., filed an amendment detailing the financial performance of Cloud (Applied Digital Cloud Corporation and Affiliates) following their business combination. For the nine months ended February 28, 2026, Cloud reported a 25% decrease in revenue to $53.2 million, but its net loss improved significantly to $(32.8) million, and operating cash flow turned positive at $113.1 million. The company also provided historical financials for Cloud, showing a 191% revenue increase to $84.4 million for the fiscal year ended May 31, 2025, and confirmed that the business combination, along with new equity funding and renegotiated leases, has alleviated prior going concern doubts.
Key Highlights
- Ekso Bionics Holdings, Inc. completed its business combination with Cloud, changing its name to ChronoScale Corporation.
- Cloud's revenue for the nine months ended February 28, 2026, decreased 25% to $53.2 million from $71.3 million.
- Cloud's net loss for the nine months ended February 28, 2026, improved to $(32.8) million from $(55.4) million.
- Net cash provided by Cloud's operating activities for the nine months ended February 28, 2026, was $113.1 million, up from $(7.4) million used.
- Cloud's revenue for the fiscal year ended May 31, 2025, increased 191% to $84.4 million from $29.0 million.
- Cloud's net loss for the fiscal year ended May 31, 2025, was $(72.7) million, a slight improvement from $(75.3) million.
- Applied Parent purchased $15.75 million in Common Stock as part of the financing for the Business Combination.
- Cloud renegotiated finance leases, extending payment durations and alleviating going concern doubts.
Price Impact
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