Actions in ReWalk Robotics (NSDQ:RWLK) fell as we speak after the rehab exoskeleton maker launched outcomes for the fourth quarter and for 2018 exceeded expectations by way of loss per share, however have been overtaken by analysts' gross sales consensus from Wall Avenue.
The corporate based mostly in Yokneam, Israel, recorded losses of roughly $ 5 million, or 10 cents per share, for gross sales of roughly $ 1.6 million for the quarter ended December 31, a lower of 18.6% and 4.2% development in comparison with the fourth quarter. throughout the earlier yr.
Losses per share have been proper forward of the 14 ¢ consensus on Wall Avenue, the place analysts additionally anticipated gross sales of about $ three million, which the corporate missed.
For the yr, ReWalk Robotics recorded losses of roughly $ 21.7 million, or 59 cents per share, on gross sales of roughly $ 6.5 million. Losses decreased by 11.9% and gross sales by 15.6% in comparison with final yr.
Losses per share have been forward of the consensus of 67 ¢ on Wall Avenue, the place analysts have been anticipating a turnover of $ 8.5 million, which the corporate has missed.
"We imagine that 2019 is about to be a big yr for ReWalk. I’m excited in regards to the momentum we see in Europe for our SCI gadgets and the chance we’ve as we put together for the launch of our second product, the ReStore for stroke sufferers. We plan to enter the stroke market with a singular light-weight product that integrates into the present reimbursement panorama, offering many remedy advantages for sufferers and a significant worth proposition for clinics. . We’re excited to deliver this modern know-how to market, and are assured that its distinctive worth will drive fast adoption. In November 2018, we submitted an utility for EC authorization and anticipate to have the ability to launch ReStore in the course of the yr. Within the US, we’re working to finalize our 510 (okay) submission to the FDA and, whether it is licensed, a product out there could possibly be marketed by the tip of the third quarter of 2019. To help our efforts, we’ve obtained extra funds. will proceed to handle our money circulation. Our aim is to realize a big discount in working bills in 2019 in comparison with 2018, as we cross the important thing regulatory and growth milestones associated to the launch of ReStore, which we imagine will scale back our burn price. to allow us to interrupt even, "CEO Larry Jasinski m stated in a press launch.
The corporate has not launched any tips for the approaching yr.
The shares in ReWalk Robotics have dropped from 8.1% to date to 25 cents per share at 11:32 am EST.
Final October, ReWalk Robotics noticed shares fall after launched preliminary gross sales within the third quarter that missed the goal on Wall Avenue, at the same time as the corporate revealed its plans for a $ 15 million public providing.
The submit workplace ReWalk Robotics shares are down within the fourth quarter of 2018 appeared first on MassDevice.