ReWalk reports $13M loss for 2020
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ReWalk's prototype for a system to help stroke patients walk.
Medical device manufacturer ReWalk Robotics, of Marlborough, reported a $13-million loss for 2020, according to a quarterly earnings report released Thursday, a 17% decrease from last year, when the company reported a $15.6-million loss.
At the same time, the company reported a $2.9-million loss for its fourth quarter, down from a $3.6 million loss during the same quarter a year prior, a difference of 18%.
The company’s quarterly revenue changed little, however, with ReWalk reporting $1.2 million of revenue in its fourth quarter, the same it reported a year prior. Revenue for the entire year was slightly down, with the company bringing in $4.4 million for all of 2020 compared to $4.9 million the year before, a difference of 9%.
The company’s CEO, Larry Jasinski, said in a statement ReWalk has dealt with COVID-19 fallout in several of its key markets, but it is hopeful to expand its U.S. coverage.
“Our German insurance contracts continued to expand as more payors are joining them and with our strengthened cash position we can maximize our company's potential,” Jasinski said in a press release.
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