At $1.73 a share, ReWalk Robotics Ltd. (RWLK) stock was trading 16.11% higher in premarket trading. Following news that the company’s ReBoot gadget has been designated as a Breakthrough Device by the US Food and Drug Administration, shares of ReWalk Robotics Ltd. are trading higher in Thursday’s pre-market session.
What does the stock’s future hold?
There are no easy answers to this crucial question, but the company’s profits projection is one trustworthy metric that can assist investors in answering it. This includes not only current consensus earnings estimates for the next quarter(s), but also how these estimates have evolved recently.
Near-term market movements and changes in earnings estimate revisions have a substantial association, according to empirical studies. In the next few days, it will be interesting to see how estimates for the coming quarters and current fiscal year evolve. The current consensus EPS forecast for the approaching quarter is -$0.06 on $1.8 million in revenue, and for the current fiscal year is -$0.28 on $6.14 million in revenue.
Q3 of 2021 Results-Did it works?
In the third quarter of 2021, total revenue was $2.0 million, up from $0.7 million in the third quarter of the previous year. The rise is mostly due to a higher number of ReWalk Personal 6.0 units sold in Germany, as well as a large order from a physical therapy university in the United States.
Gross margin was 58 percent in the third quarter of 2021, up from 52 percent in the third quarter of 2020. The increase is primarily due to an increase in the number of units sold as well as the average selling price.
Total operating expenses for the third quarter of 2021 were $3.8 million, up from $3.5 million the previous year. Higher SG&A employee and related expenses, as well as increased professional services, more than offset lower R&D employee and related expenses, resulting in an increase. Throughout the third quarter of 2021, the company lost $2.7 million, compared to $3.3 million the previous year.
How is ReWalk Robotics Ltd. (RWLK) progressing?
It seems that ReWalk Robotics was able to reduce its cash burn by 21% in the last year is reassuring. However, the 2.6 percent drop in income during the same period was troubling. Overall, the company is getting better.