Bionik Laboratories Q2 Fiscal Year 2023 Earnings: New Strategic Direction Increases Outlook for Growth; Revenue Increase of 113% YoY

 

Robotics company, Bionik Laboratories Corp. (BNKL) has announced its earnings for the second quarter of fiscal year 2023, reporting a revenue increase of 113% and subscription revenue increase of 10% YoY.

In September, the company began a nationwide roll-out of a network of neuro-recovery Centers of Excellence that will showcase Bionik technology and solutions.

Highlights

  • Bionik acquired its first center in Clermont, FL. The center is now operational and has been fitted with Bionik’s inMotion robotic devices.
  • Revenue increased by 113% YoY, up from $0.2 million for the second quarter of fiscal 2022 to $0.5 million for the second quarter of fiscal 2023.
  • Subscription revenue increased by 10%.

Bionik’s sales pipeline continues to grow and the outlook for the second half of the fiscal year is strong.

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Bionik Laboratories Q2 Fiscal Year 2023 Earnings: New Strategic Direction Increases Outlook for Growth; Revenue Increase of 113% YoY

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