ReWalk Robotics (RWLK) Reports Prelim. Revenue of $1.4M
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ReWalk Robotics Ltd. (Nasdaq: RWLK) (“ReWalk” or the “Company”) today announced preliminary estimated revenues of approximately $1.4 million for the three months ended September 30, 2016 and approximately $4.3 million for the nine months ended September 30, 2016. This reflects 23 unit placements, of which 13 were reimbursed under insurance policies, during the three months ended September 30, 2016, and 80 unit placements, of which 41 were reimbursed under insurance policies, during the nine months ended September 30, 2016.
Estimated revenues for the three months ended September 30, 2016 also reflect positive reimbursement coverage decisions, conversions of rental units into purchases and incremental purchases by the Veterans Administration (the “VA”) for use in an ongoing clinical study, resulting in a total of 22 units purchased for clinical studies by the VA during the nine months ended September 30, 2016.
In addition, the Company announced estimated cash and cash equivalents of approximately $12.4 million as of September 30, 2016.
Today’s preliminary estimates of revenues and cash and cash equivalents, which are unaudited, are based on management’s preliminary financial analysis. These estimates are subject to the completion of the Company’s financial closing procedures and any adjustments that may result from the completion of the quarterly review of the Company’s unaudited consolidated condensed financial statements.
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