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BIONIK Laboratories Announces Fiscal 2021 Q2 Financial Results
BIONIK Laboratories Announces Fiscal 2021 Q2 Financial Results.
About this update from Bionik Laboratories Corp.
[{"type":"text","content":"\nBIONIK Laboratories Corp. (OTCQB: BNKL), a robotics company focused on providing rehabilitation and assistive technology solutions to individuals with neurological and mobility challenges from hospital to home, today announced financial results for its second quarter of fiscal year 2021, ending September 30, 2020.\n\nFinancial highlights for the second quarter of fiscal 2021 and recent weeks include: \n\n● Reported sales have increased by 3.8%, compared to the prior-year quarter.\n\n● Gross margins for the quarter were $222,334 or 76% on the sale of InMotion robots, Connect and Pulse, compared to $198,484 or 70% in the prior-year quarter.\n\n● An existing robotic device customer purchased and subscribed to InMotion Connect™ and deployed the service in 22 of its hospitals across 13 states.\n\n● During the COVID-19 pandemic, the Company continued to ship InMotion robots to customers in the U.S.\n\nCorporate highlights for the second quarter of fiscal 2021 and recent weeks include:\n\n● Following its launch on June 25, 2020, the Company deployed InMotion Connect™, a cloud-based data analytics solution, which combines real-time robot data with deep expertise of BIONIK’s clinical specialists to partner with each clinic, promoting robot utilization, supporting clinician engagement, and enhancing patient care by providing contextual and relevant data to reach hospital clinicians and management teams when it matters the most. The Company continues to customize the solution by developing new functionalities including smart actions to improve the decision process.\n\n● In October 2020, the Company placed an InMotion Connect™ solution at another strategic account, for evaluation and possible sales across that account’s hospital network.\n\nManagement Commentary\n\nCommenting on the quarter, Dr. Eric Dusseux, BIONIK’s Chief Executive Officer, said, \"Following the launch of InMotion Connect™, we are seeing good traction in targeting the critical needs around improving technology adoption and utilization at each rehabilitation clinic we serve. Through this new platform, we can ensure that the state-of-the-art rehabilitation methods are effectively in use across the hospital networks. We sold and deployed, during the second quarter of fiscal year 2021, InMotion Co...