The Marlborough, Mass.-based robotic exoskeleton device maker posted losses of -$2.9 million, or -14¢ per share, on sales of $1.2 million for the three months ended Dec. 31, 2020, for a 17.6% bottom-line gain on sales growth of 3.1%.
Adjusted to exclude one-time items, losses per share were also -14¢, coming in equal with projections on Wall Street, where analysts were looking for sales of $1.5 million.
“We are encouraged with our overall results in FY 2020,” ReWalk Robotics CEO Larry Jasinski said in a news release. “Although we have faced and continue to face the effects of Covid-19 in several of our key markets, during this last year we progressed our CMS initiative as we created a new code for exoskeleton and, if our planned coverage application is successful, it will allow a significant number of the U.S. spinal cord injury population access to our device.
“Our German insurance contracts continued to expand as more payors are joining them and with our strengthened cash position we can maximize our company’s potential.”
ReWalk Robotics did not offer financial guidance for 2021.
RWLK shares were down -8.5$ pre-market at $4.50 per share today.