ReWalk Robotics (RWLK) Tops Q1 EPS by 4c; VA Purchases Additional ReWalk Personal Systems

ReWalk Robotics (NASDAQ: RWLK) reported Q1 EPS of ($0.56), $0.04 better than the analyst estimate of ($0.60). Revenue for the quarter came in at $2.1 million versus the consensus estimate of $1.56 million.

ReWalk also announced that the U.S. Department of Veterans Affairs ("VA") has purchased an additional 20 ReWalk Personal Systems to support initiation of their national multi-center clinical trial.

The VA clinical trial is the first-ever U.S. study to examine the impact of exoskeleton use in the home or daily life setting. The study will include 160 participants across the country, with six VA medical centers participating in the first phase across California, Florida, Massachusetts, Texas and Virginia. The participating VA medical centers have received ReWalk systems to begin their training. Eligible participants will be enrolled later this year.

"The purchase of 20 additional systems is a critical acquisition for this groundbreaking clinical trial," said ReWalk CEO Larry Jasinski. "The initiation of the study across these six VA Medical Centers will provide many veterans access to training with exoskeleton technology. We continue to work closely with the VA and offer our support as the trial gets underway."

The Department of Veterans Affairs is the largest single healthcare provider in the United States to persons with Spinal Cord Injury (SCI). The VA awarded a delivery order to Veterans Healthcare Supply Solutions (VHSS), the Service Disabled Veteran Owned Small Business (SDVOSB) authorized distributor of ReWalk Robotics, for the 20 unit purchase of ReWalk exoskeleton systems. ReWalk is the first exoskeleton in the U.S. to receive FDA clearance both personal use at home and in the community, as well as for the rehabilitation setting. ReWalk and the Department of Veterans Affairs have worked together for years to provide America's wounded retired service members with access to exoskeleton technology in the rehabilitation and personal settings.

For earnings history and earnings-related data on ReWalk Robotics (RWLK) click here.

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