— First Quarter 2021 Total Revenue of $1.3 million —
— Strong balance sheet with $ 67.4 million in cash, as of March 31, 2021—
MARLBOROUGH, Mass. and BERLIN and YOKNEAM ILIT, Israel, May 11, 2021 (GLOBE NEWSWIRE) — ReWalk Robotics Ltd. (Nasdaq: RWLK) (“ReWalk” or the “Company”) today announced its financial results for the three months ended March 31, 2021.
Highlights of and subsequent to the first quarter of 2021 include:
The Company’s total revenue in the first quarter of 2021 was $1.3 million, compared to $0.8 million in the prior year’s first quarter;
The Company’s gross margin was 54% in Q1 of 2021, compared to 49% in Q1 of 2020;
The Company’s operating expenses were $3.7 million in Q1 of 2021, compared to $4 million in Q1 2020;
The Company entered into a contract with BKK Mobile Oil health insurance to supply ReWalk’s Personal 6.0 System to eligible persons in Germany; and
The Company has a strong balance sheet with $67.4 million in cash as of March 31, 2021.
“We are encouraged by the results shown in the first quarter of 2021,” said Larry Jasinski, ReWalk’s Chief Executive Officer. “We see areas of our direct markets gradually reopening, which allows us to increase trials of ReWalk’s new Personal 6.0 System with patients and return to in-clinic demonstrations of our rehab products for new potential users. As we look forward into 2021, we remain focused on progressing our CMS coverage and broadening our German market access. We believe we remain…