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.
- 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.