Business
ReWalk Robotics Reports Second Quarter 2021 Financial Results
— Second Quarter 2021 Total Revenue of $1.4 million — — Second quarter 2021 marks the fourth consecutive quarter over quarter growth — — Strong balance sheet
About this update from Lifeward Ltd.
[{"type":"text","content":"— Second Quarter 2021 Total Revenue of $1.4 million — — Second quarter 2021 marks the fourth consecutive quarter over quarter growth — — Strong balance sheet with $ 64.2 million in cash, as of June 30, 2021— MARLBOROUGH, Mass. and BERLIN and YOKNEAM ILIT, Israel, Aug. 09, 2021 (GLOBE NEWSWIRE) -- ReWalk Robotics Ltd. (Nasdaq: RWLK) (“ReWalk” or the “Company”) today announced its financial results for the three and six months ended June 30, 2021. Highlights of and subsequent to the second quarter of 2021 include: Total revenue in the second quarter of 2021 was $1.4 million;Second quarter 2021 marks the fourth consecutive quarter over quarter growth;Gross margin was 51% in the second quarter of 2021;Total operating expenses were $3.9 million in the second quarter of 2021;Cash position remains strong with $64.2 million;Additional five BKK partners have joined the operating contract in Germany andJeannine Lynch will join the Company as its VP of strategy and market access on August 31, 2021. “The second quarter results reflect the ongoing reopening of the markets. We are now able to trial many new individuals who had been waiting and filled our pipeline during the pandemic,” said Larry Jasinski, ReWalk’s Chief Executive Officer. “Our focus on achieving broader coverage in Europe and the United States has also been encouraging. We are expanding our resources in order to achieve these goals and to have a market leading and experienced team for implementation as they occur.” Second Quarter 2021 Financial Results Total revenue was $1.4 million in the second quarter of 2021, compared to $1.7 million during the second quarter of the prior year. The decrease is mainly due to the lower number of ReWalk Personal 6.0 units sold in Germany offset with higher revenues from Myolyn and ReStore transactions. Gross margin was 51% during the second quarter of 2021, compared to 61% in the second quarter of 2020. The decrease is mainly due to the change in sales mix as well as service costs. Total operating expenses in the second quarter of 2021 were $3.9 million, compared to $3.6 million in the second quarter of the prior year. The increase is due to higher SG&A employee and employee related expenses. Net loss was $3.1 million for the second quarter of 2021, compared to a net loss of $2.9 million in the second quarter of the prior year. Non-GAAP net ...