ReWalk Robotics up on earnings report, VA purchase

By Jim Pearce • May 5, 2016

As we discussed in this week’s issue of Breakthrough Tech Weekly, exoskeleton manufacturer ReWalk Robotics (RWLK) released first quarter earnings yesterday that were in line with expectations. The company reported a quarterly loss of $6.9 million, or 56 cents per share (48 cents adjusted for option expense and non-recurring costs). Revenue for the period was $2.1 million, compared to $1.3 million in the previous quarter and $635,000 during the same period in 2015.

However, it was today’s news the pushed its share price 2% higher. The company announced the U.S. Department of Veterans Affairs bought another 20 sets of ReWalk equipment to use with disabled veterans. This follows up a purchase by the VA earlier this year to begin testing the devices on soldiers with spinal cord injuries.

We are encouraged by the pace at which exoskeleton technology is gaining acceptance, and continue to recommend RWLK along with EKSO as a high-risk/high-reward play on this huge growth potential market.

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William R. Morris

05/05/16 ‐ 4:13pm ET May 5, 2016 at 4:13pm ET

Did the stock symbol for EKSO change recently to EKSOD? And didn’t that stock have tremendous jump. . . . . .let’s see. . . . .that would be the “reward”. . . . . .right?

Jim Pearce

05/05/16 ‐ 4:40pm ET May 5, 2016 at 4:40pm ET

Actually, EKSO announced a 7:1 reverse split so it can trade on an exchange.,That means its share price will increase by 7x but you will own 1/7 as many shares so it all works out the same. I will include an update about it in this Monday’s issue of BTP. Thank you.

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