ReWalk Robotics Stock Surges 18 Percent As Reporting Q3 Results

ReWalk Robotics is a medical technology company focused on developing exoskeletons for people with mobility challenges, today announced its financial and operating results for the third quarter of 2021. During the third quarter of 2021, ReWalk made the highest revenue in four years. The quarter’s growth was primarily due to the company’s placements in Germany and the US, where the demand for Exoskeleton training is becoming a standard part of a physical therapy curriculum. Total revenue for the third quarter of 2021, was $2.0 million, up from $0.7 million in the same period a year ago. The increase was mainly due to the higher number of ReWalk Personal units sold in Germany.

Gross margin reached 58% in Q3 and made about $3.8 million, which was higher than the 52% increase the previous year. Total operating spending for 3Q21, which included employee and other related expenses, was $3.8 million, compared to $3.7 million in the previous year’s similar quarter. The company reported a net loss of $3.7 million for the third quarter ended September 30, 2021, compared to a loss of $3.3 million for the same period a year ago. The non-GAAP loss was $2.0 million, compared to a non-GAAP net loss of $3.0 million in the prior year.