ReWalk Robotics Hits All-time Low Following Q3 Earnings

With sales of its exoskeleton slumping nearly 50 percent year-over-year, ReWalk missed its earnings per share target from analysts.

ReWalk Robotics (NASDAQ:RWLK) has had a challenging third quarter.

With low sales volumes and declining revenues, the company hit all-time lows after the release of its Q3 earnings on Wednesday (November 13). ReWalk had sunk over 20 percent to US$2 as of 2:23 p.m. EST.

With a focus on developing robotic exoskeletons that are designed to help individuals with spinal injuries walk, the company showcased how a paralyzed veteran was able to complete the New York Marathon with the exoskeleton during Monday’s (November 11) 26.2 mile race.

This was the first time in history that a paralyzed individual had completed the New York marathon.

In 2014, ReWalk received US Food and Drug Administration clearance for its devices. It has worked with the US Department of Veterans Affairs since 2015 to provide veterans who have had spinal cord injuries with its robotic exoskeletons. The devices have also been used in a number of races worldwide.

The devices, which weigh 50 pounds, consist of battery-powered motors that are located at the hips and knee joints. Sensors are triggered when individual users tilt forward, causing each respective leg to move forward independently.

Despite its exciting news on Monday, ReWalk could not escape the consequences of its slowing sales. Over the quarter, the company sold 17 units, 12 of which were ReWalk Personal exoskeletons. This was a drop of nearly 50 percent compared to the same time last year. The ReWalk Personal costs between US$69,000 and US$85,000.

Still, the company presented operational efficiencies for Q3. Gross profit margins improved to 53 percent, up from 47 percent in the third quarter of 2018. This was paired with growth into new markets.

“Our progress with key German ReWalk contracts and with very positive customer feedback after the first few weeks of ReStore’s clinical use supports our plans to grow this market and our top-line results especially as we look forward into FY 2020,” said ReWalk CEO Larry Jasinski in a press release.

Meanwhile, operating costs declined for the quarter. With a focus on operational stringency, both clinical trial costs and consulting costs were cut. However, ReWalk has yet to achieve profitability.

“We are confident about our strategic approach in creating these new markets and see the path to our longer-term goals of building a breakeven sustainable entity,” said Jasinski.

ReWalk’s earnings per share have missed consensus estimates over the last four consecutive quarters, and Zacks Equity Research anticipates that its earnings per share will reach negative US$0.44 in Q4.

Year-to-date ReWalk’s share price has fallen 54.36 percent, down from US$4.82 in January. Shares of ReWalk reached a 2019 high in June of US$7.49.

Don’t forget to follow us @INN_Technology for real-time news updates!

Securities Disclosure: I, Dorothy Neufeld, hold no direct investment interest in any company mentioned in this article.

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robotic arm above a globe showing Australia

Australia is hoping to lead the way in robotics, and these are some of the country's top robotics stocks by market cap.

Robotics is a growing area of engineering and science technology. Although Australia is hoping to lead the way in robotics, the number of pure-play ASX-listed robotics companies isn't all that big.

Robotics is a broad term covering everything from design to the construction and operation of robots. It also includes the use of robots in roles normally played by humans, often to reduce errors or speed up processes.

This list includes a wide range of ASX-listed companies that employ robotics. Data was sourced using TradingView's stock screener on November 24, 2021, and stocks are listed in order of market cap from largest to smallest.

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Maxar Technologies a trusted partner and innovator in Earth Intelligence and Space Infrastructure, celebrates Dr. Walter Scott, Executive Vice President and Chief Technology Officer, for being awarded the David W. Thompson Lecture in Space Commerce by the American Institute of Aeronautics and Astronautics . The lectureship recognizes a prominent industry leader who has created a space-related business and generated ...

Maxar Technologies (NYSE:MAXR) (TSX:MAXR), a trusted partner and innovator in Earth Intelligence and Space Infrastructure, celebrates Dr. Walter Scott, Executive Vice President and Chief Technology Officer, for being awarded the David W. Thompson Lecture in Space Commerce by the American Institute of Aeronautics and Astronautics (AIAA). The lectureship recognizes a prominent industry leader who has created a space-related business and generated substantial economic benefits and market value.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211116005515/en/

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Maxar Technologies a trusted partner and innovator in Earth Intelligence and Space Infrastructure, today announced financial results for the quarter ended September 30, 2021. All dollar amounts in this press release are expressed in U.S. dollars, unless otherwise noted. Key points from the quarter include: Net income from continuing operations of $14 million Diluted net income per share of $0.19 Consolidated ...

Maxar Technologies (NYSE:MAXR) (TSX:MAXR) ("Maxar" or the "Company"), a trusted partner and innovator in Earth Intelligence and Space Infrastructure, today announced financial results for the quarter ended September 30, 2021. All dollar amounts in this press release are expressed in U.S. dollars, unless otherwise noted.

Key points from the quarter include:

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Catch up and get informed with this week's content highlights from Charlotte McLeod, our editorial director.

Top Stories This Week: Powell Gets Fed Nomination, Using Gold in a Market Correction youtu.be

We're back after a break last week with quite a bit to cover in the gold space.

After running up past the US$1,860 per ounce mark midway through November, the yellow metal has taken a tumble. At the time of this writing on Friday (November 26) afternoon, it was sitting just under US$1,790.

Gold's losses this week have been attributed to elements like a stronger US dollar and better Treasury yields, although Jerome Powell's US Federal Reserve chair renomination has pulled other factors into play — some market watchers believe he may move to taper and raise interest rates faster than anticipated.


If the Fed follows its previously laid out timeline for tapering, it will wrap up in mid-2022; the central bank has said it won't raise rates until after that. It has also emphasized that its roadmap may change if necessary.

Looking at the larger picture for gold, I heard recently from Nick Barisheff of BMG Group, who believes the stock market is due for a major correction.

"The market is due for a major correction. What will cause it and when it will happen is anybody's guess — it could be tomorrow, it could be six months from now" — Nick Barisheff, BMG Group

It's impossible to know when this correction will happen, but Nick emphasized the importance of acting before it's too late. He pointed out that investors are typically slow to get out of the market once a crash actually begins — they wait for a turnaround, and by the time it's clear there won't be one, they've experienced big losses.

In his opinion, the solution is to get out of the stock market early and transfer money into gold.

Here's how Nick explained it:

"Instead of taking your money off the table and going into cash … you go to gold (because cash is devaluing daily). Gold will at least hold its own and probably appreciate … so by sitting it out in gold you can wait until the market finishes correcting and then buy back in" — Nick Barisheff, BMG Group

With gold's future in mind, we asked our Twitter followers this week what price they think the metal will be at the end of 2021. By the time the poll closed, most respondents had voted for the US$1,800 to US$1,900 range.

We'll be asking another question on Twitter next week, so make sure to follow us @INN_Resource or follow me @Charlotte_McL to share your thoughts.

Finally, in the cannabis space, INN's Bryan Mc Govern spoke with Dan Ahrens of AdvisorShares to get his thoughts on 2021 trends and what's ahead in 2022.

Dan was candid, and said if he had to choose one word to describe the cannabis market in 2021, it would be "painful." Like many others, he's been disappointed in the industry's performance — while positivity initially ran high due to excitement about potential federal changes in the US, ultimately progress has been slow.

"Cannabis started with a big run-up in January and February ... and things dragged from there" — Dan Ahrens, AdvisorShares

Still, Dan has hope for 2022 and said it will be a "huge year" for cannabis. He believes US reforms will come sooner rather than later, and in his opinion those widely anticipated changes will bring a wave of M&A activity.

Specifically, he expects to see alcohol, tobacco and other consumer packaged goods companies making deals with cannabis players, not just cannabis entities doing transactions with each other.

"Those big alcohol companies, tobacco companies, other consumer packaged goods product companies — they're waiting. They're waiting on the US" — Dan Ahrens, AdvisorShares

Want more YouTube content? Check out our YouTube playlist At Home With INN, which features interviews with experts in the resource space. If there's someone you'd like to see us interview, please send an email to cmcleod@investingnews.com.

And don't forget to follow us @INN_Resource for real-time updates!

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.

cannabis plant layered with German flag graphic
Dmytro Tyshchenko / Shutterstock

Catch up on some of the biggest news of the week for the cannabis investment world.

Three political parties have formed a coalition in Germany, leading to a new government, and it has promised cannabis reform in the European nation.

Meanwhile, a popular cannabis retailer confirmed consumers will now find its products available for delivery on the Uber Eats mobile application in Ontario.

Keep reading to find out more cannabis highlights from the past five days.


Coalition of parties promises forward-looking cannabis policy

Germany, a country with comprehensive and elaborate medicinal rules for cannabis, is in a time of transition as a new government is set to begin to take over after 16 years of Angela Merkel.

Olaf Scholz, the proposed next chancellor of Germany, leads a three party coalition that will become the country's governing body. As part of its promises, talk of adult-use cannabis regulation has now gained even more momentum. A report from MJBizDaily quotes a German policy document that shows the coalition's stance:

"We are introducing the controlled distribution of cannabis to adults for consumption purposes in licensed shops. This controls the quality, prevents the transfer of contaminated substances and guarantees the protection of minors."

However, despite the promise and excitement, it remains to be seen how these ideas will be applied since no formal regulations have been drafted or approved yet.

Canadian cannabis retailer partners with popular delivery app

Tokyo Smoke, a cannabis retail operator in Canada owned by Canopy Growth (NASDAQ:CGC,TSX:WEED), announced a collaboration agreement with Uber Canada (NYSE:UBER) whereby cannabis consumers will be able to use the Uber Eats app to order products before they visit stores.

While the app won't let consumers get cannabis delivered to them, this new method opens the doors to more dynamic ways of buying cannabis.

"As a market leader in innovation and a platform used by so many Canadians, we believe this is the ideal next offering that can be done safely and conveniently on the Uber Eats app," Mark Hillard, vice president of operations with Tokyo Smoke, said in a press release.

A report from the Canadian Press indicates Ontario is considering allowing dispensaries to have delivery and pickup options made available to consumers permanently. The province allowed some of these purchasing options at the outset of the COVID-19 pandemic, but then removed them.

Lola Kassim, general manager of Uber Eats Canada, said this new end-to-end experience will provide consumers with responsible access to legal cannabis products.

Cannabis company news

  • Organigram Holdings (NASDAQ:OGI,TSX:OGI) issued financial results for its Q4 2021 period. In its report, the company notes a net loss of C$26 million despite a 22 percent uptick in net revenue to C$24.9 million. Beena Goldenberg, the newly appointed CEO of the firm, is encouraged by the market share position earned by the company, which said it became the fourth biggest producer in Canada during the reporting period.
  • Halo Collective (NEO:HALO,OTCQB:HCANF) confirmed the decision for Akanda, its spinoff company focused on international cannabis opportunities, to begin trading on a US exchange. "The number of shares to be offered and the price range for the proposed offering have not yet been determined," the company told investors in a press release.
  • High Tide (NASDAQ:HITI,TSXV:HITI) announced the acquisition of 80 percent of NuLeaf Naturals, a CBD product wellness developer, for an estimated US$31.24 million. The deal includes a three year option clause for High Tide to complete a total acquisition. "As international markets open up and as export regulations evolve, NuLeaf's cGMP-certified facility positions us to take advantage of the global CBD business opportunity," Raj Grover, president and CEO of High Tide, said.
  • Humble & Fume (CSE:HMBL,OTC Pink:HUMBF) released the financial report for its first 2022 fiscal quarter to shareholders and the market. "As the legal cannabis market in North America continues to mature, Humble remains agile and focused on providing a leading solution for brands to scale quickly and retailers to focus on their customers," Joel Toguri, CEO of Humble, said.

Don't forget to follow us @INN_Cannabis for real-time updates!

Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.

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