ReWalk Robotics, Yokneam Ilit, Israel, and Marlborough, Massachusetts, announced its financial results for the fourth quarter (4Q) and full-year (FY) periods ended December 31, 2016.
Financial highlights for 4Q 2016 are as follows:
- Total revenue was $1.6 million, compared to $1.3 million in 4Q 2015.
- Total operating expenses were $7.9 million, compared to $7.5 million in the prior year period.
- Net loss was $8.5 million, compared to a net loss of $7.5 million in 4Q 2015. Non-generally accepted accounting principles (GAAP) net loss was $7.2 million compared with a non-GAAP net loss of $6.7 million in 4Q 2015.
FY 2016 financial results are as follows:
- Total revenue was $5.9 million, compared to $3.7 million in FY 2015.
- Operating expenses were $31.2 million, compared to $25.4 million in FY 2015.
- Net loss was $32.5 million, compared to a net loss of $25.4 million in the prior year. Non-GAAP net loss was $27.7 million, compared with a non-GAAP net loss of $22.6 million in 2015.
As of December 31, 2016, ReWalk had $23.7 million in cash on its balance sheet. In 2016, the company generated about $34 million from debt and equity financing activities.
