ReWalk Robotics Ltd. (RWLK) stock soared 11.53% in the after-hours trading session at the price of $1.45 despite no fundamental reason. The last reported news on the company’s website was its financial results for the second quarter of 2021. RWLK is focused on developing, manufacturing, and commercializing wearable robotic exoskeletons for people with lower limb disabilities. The company aims to improve the quality of life by providing market-leading robotics technologies. 

RWLK Second Quarter 2021 Financial Results 

On 9th August 2021, RWLK published its financial results for the three and six months ended 30th June 2021. CEO of RWLK, Larry Jasinski, remarked that their second-quarter 2021 financial results reflect the ongoing reopening of the markets after the pandemic. They can now make more trials on many new people who had been waiting during the pandemic. Their concentration is on attaining extensive coverage in Europe and the United States. With the help of their market-leading and experienced team, they are extending their resources to accomplish these goals; he added.  

Second Quarter 2021 Financial Results 

RWLK reported total revenue of $1.4 million for the second quarter ended 30th June 2021. Total revenue was $1.7 million during the same quarter of the previous year. The drop in revenue was driven by the lower number of RWLK’s Personal 6.0 units sold in Germany. The gross margin was 51% during the second quarter ended on 30th June 2021. The company reported a gross margin of 61% in the second quarter ended on 30th June 2020. The decline resulted from the change in sales mix as well as service costs.  

For the second quarter of 2021, the net loss was $3.1 million, compared to a net loss of $2.9 million in the second quarter of 2020. Total operating expenses in the second quarter of 2021 were $3.9 million. RWLK reported total operating expenses of $3.6 million in the second quarter ended on 30th June 2020. The increase is caused by higher SG&A employee and employee-related expenses. 

Appointment of Jeannine Lynch as Vice President 

On 2nd August 2021, RWLK published the appointment of Jeannine Lynch as Vice President of Strategy and Market Access. This appointment became effective from 31st August 2021. Ms. Lynch will report to ReWalk CEO Larry Jasinski. She will be responsible for building and executing the company’s market access and reimbursement programs. She will also supervise the outlining and implementation of all business strategies and policies. Previously, Ms. Lynch served at BioMarin Pharmaceutical as Senior Director of Patient Access Services.