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Saturday, June 25, 2022

ReWalk Robotics Ltd. (RWLK) stock soared in Pre-Market: Here’s Why

Shares of the ReWalk Robotics Ltd. (RWLK) stock were soaring in the pre-market trading without any specific reason. RWLK stock price saw a surge of 20.77% to reach $1.57 a share at the time of this writing. The stock was gloomy in the previous trade and went down by 3.70% at closing. Let’s discuss more about this stock.

ReWalk Robotics Ltd is an Israeli-based Medical company that operates by designing, developing, and commercialization of wearable robotic exoskeletons to cope with mobility impairments.


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Q2,2021 Financial Results of RWLK stock:

ReWalk Robotics did announce second-quarter 2021 financial results on August 09, 2021, according to which

  • RWLK stock generated $1.4 million in revenue during the quarter. This compares to $1.7 million in revenue in the same quarter of last year.
  • The gross margin for the stock declined from 60% in Q2,2020 to 51% in Q2,2021 due to a change in sales mix and services costs.
  • RWLK stock suffered a net loss of $3.1 million in the second quarter of 2021. The net loss for the same previous year quarter was $2.9 million.
  • ReWalk reported a Non-GAAP net loss of $2.9 million in the second quarter of 2021 compared to $2.7 million in Q2,2020.
  • Operating expenditures reached $3.9 million in the second quarter of 2021 as compared to $3.6 million in the prior-year same quarter.
  • By the end of the second quarter, RWLK stock had cash of $64.2 million on its balance sheet.
  • The quarterly loss was $0.07 per share as compared to $0.06 loss per share by the Zack Consensus estimate. The stock did not surpass the consensus EPS estimate for the last four quarters.

New Appointment by RWLK stock:

On August 2, 2021, ReWalk stock announced the appointment of Jeannine Lynch as Vice President of Strategy and Market Access. He joined the company on August 31, 2021. His main responsibility is to complete the building and implementation of market access and reimbursement programs of RWLK stock. Before joining, Ms. Lynch served BioMarin Pharmaceuticals as Senior Director of Patient Access Services.

Conclusion:

ReWalk stock price recorded considerable heights during the pre-market today despite of the absence of any news. Low sale of its Personal 6.0 units resulted in lower revenue in the second quarter partially offset by Myolyn and ReStore transactions. The management of ReWalk stock is keen to expand its resources with the focus on achieving broader coverage.

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