ReWalk Robotics (NSDQ:RWLK) shares took a hit today on fourth-quarter losses that came up short of the consensus forecast.
The Yokneam Illit, Israel–based robotic walking assistance company posted losses of -$3.6 million, or -49¢ per share, on sales of $1.2 million for the three months ended Dec. 31, 2019, with a profit gain of nearly $1.5 million on a sales decline of 25.2%.
Adjusted to exclude one-time items, losses per share were also -49¢, 13¢ behind Wall Street, where analysts were looking for sales of $2.4 million.
“In 2019, the company made substantial progress in entering the stroke market segment by completing successful clinical studies, gaining FDA and CE clearances and in early commercialization with a unique game-changing technology,” ReWalk Robotics CEO Larry Jasinski said in a news release. “We feel that we have put in place the required building blocks to allow us to grow and improve our financial standing in 2020.”
ReWalk Robotics did not offer updates on its expected EPS or sales guidance for the coming year.
RWLK shares were down -9.7% at 80¢ per share in mid-afternoon trading today.