Revenues up at ReWalk Robotics
ReWalk Robotics of Marlborough reported a 277 percent year-over-year revenue jump to $1.5 million.
The company, which also has offices in Israel and Germany, makes wearable robotic exoskeletons for people with spinal cord injury. The Food and Drug Administration cleared ReWalk last June to sell the exoskeletons in the U.S.
The revenue increase from $408,000 for the third quarter of 2013 resulted from the sale of 26 ReWalk systems.
But the company posted a net loss of $6.4 million, compared to a net loss of $3.3 million for the third quarter of 2013.
Meanwhile, ReWalk raised $38.7 million through its initial public offering. The company said that will boost liquidity to fund commercialization of the ReWalk personal system in the U.S., as well as expand infrastructure and continue research and development.
"We achieved several significant milestones during the third quarter of 2014 that allowed us to bring our revolutionary technology to a broader group of individuals with spinal cord injuries,” CEO Larry Jasinski said.
WBJ Web Partners
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