MARLBOROUGH, Mass. and YOKNEAM ILLIT, Israel, Nov. 05, 2024 (GLOBE NEWSWIRE) -- Lifeward Ltd. (Nasdaq: LFWD) (“Lifeward” or the “Company”), a global market leader delivering life-changing solutions to revolutionize what is possible in rehabilitation, recovery, and the pursuit of life’s passions in the face of physical limitation or disability, today announced that the Company will release its third quarter 2024 financial results before the markets open on Tuesday, November 12, 2024. Larry Jasinski, Chief Ex ...

MARLBOROUGH, Mass. and YOKNEAM ILLIT, Israel, Oct. 24, 2024 (GLOBE NEWSWIRE) -- Lifeward Ltd. (Nasdaq: LFWD) (“Lifeward” or the “Company”), a global market leader delivering life-changing solutions to revolutionize what is possible in rehabilitation, recovery, and the pursuit of life’s passions in the face of physical limitation or disability, announced today that Mike Lawless, Chief Financial Officer, will provide an overview presentation and host one-on-one meetings with investors at the ThinkEquity Confe ...

MARLBOROUGH, Mass. and BERLIN and YOKNEAM ILLIT, Israel, Sept. 24, 2024 (GLOBE NEWSWIRE) -- Lifeward Ltd. (Nasdaq: LFWD) ("Lifeward" or the "Company"), a global market leader delivering lifechanging solutions to revolutionize what is possible in rehabilitation, recovery, and the pursuit of life's passions in the face of physical limitation or disability, announced today that it will begin selling the AlterG family of products through its German sales organization, effective immediately. The announcement was ...

MARLBOROUGH, Mass. and YOKNEAM ILLIT, Israel, Sept. 12, 2024 (GLOBE NEWSWIRE) -- ReWalk Robotics Ltd. (DBA Lifeward®) (Nasdaq: LFWD) ("Lifeward" or the "Company"), a global market leader delivering life-changing solutions to revolutionize what is possible in rehabilitation, recovery, and the pursuit of life's passions in the face of physical limitation or disability, is pleased to announce that the Company has formally changed its name from ReWalk Robotics Ltd. to Lifeward Ltd. in completion of the rebrandi ...

MARLBOROUGH, Mass. and YOKNEAM ILLIT, Israel, Sept. 10, 2024 (GLOBE NEWSWIRE) -- ReWalk Robotics Ltd. (DBA Lifeward™) (Nasdaq: LFWD) ("Lifeward" or the "Company"), a global market leader delivering life-changing solutions to revolutionize what is possible in rehabilitation, recovery, and the pursuit of life's passions in the face of physical limitation or disability, today announced that Dr. Keith E. Tansey, MD, PhD, will be joining its Medical Affairs team as a consultant in the role of Director, Clinical ...

MARLBOROUGH, Mass., BERLIN, Germany, and YOKNEAM ILLIT, Israel, Sept. 05, 2024 (GLOBE NEWSWIRE) -- ReWalk Robotics Ltd. (DBA Lifeward™) (Nasdaq: LFWD) ("Lifeward" or the "Company"), a global market leader delivering life-changing solutions to revolutionize what is possible in rehabilitation, recovery, and the pursuit of life's passions in the face of physical limitation or disability, is pleased to announce the successful completion of the first ReWalk Step Challenge 2024. This unique charity initiative bro ...

Financial Data and Key Metrics - Revenue for Q2 2024 was $6.7 million, a 402% increase compared to Q2 2023 [5] - Operating losses remained flat year-over-year despite a larger commercial footprint [5] - Gross profit for Q2 2024 was $2.8 million (41.1% of revenue) on a GAAP basis and $3.1 million (46.9% of revenue) on a non-GAAP basis [13] - GAAP operating loss for Q2 2024 was $4.4 million, compared to $5.2 million in Q2 2023 [15] - Cash and equivalents at the end of Q2 2024 stood at $15.1 million with no debt [15] Business Line Data and Key Metrics - ReWalk systems revenue was $3.1 million in Q2 2024, up 72% from Q2 2023, driven by Medicare coverage expansion [11] - AlterG products revenue was $3.6 million in Q2 2024, a sequential increase of $0.8 million from Q1 2024 [11] - The company achieved 20 ReWalk placements in Q2 2024, a record for the quarter [5] - The backlog for AlterG systems increased to 104 units by the end of Q2 2024, with orders expected to ship in Q3 and Q4 [12] Market Data and Key Metrics - In Germany, 54 ReWalk cases were in process at the end of Q2 2024, with 29 pending insurance claims and 25 court cases [12] - In the U.S., 35 ReWalk cases were in process, many of which were for Medicare beneficiaries [12] - The company received over $600,000 in Medicare receivables during Q3 2024, with expectations for further payments by year-end [16] Company Strategy and Industry Competition - The company is focused on achieving profitable breakeven operations through revenue growth, margin gains, and operating efficiencies [8] - The launch of the new NEO anti-gravity product in June 2024 is expected to drive growth, particularly in smaller clinics [6][24] - The company submitted an FDA 510(k) application for the seventh-generation ReWalk system, which includes user-driven enhancements [24][36] Management Commentary on Operating Environment and Future Outlook - Management reaffirmed full-year 2024 revenue guidance of $28 million to $32 million [9] - The company expects gross margins to reach approximately 50% by Q4 2024, driven by higher revenue and cost efficiencies [18] - Management is optimistic about the long-term market potential, envisioning a market of 1,000 systems annually with proper development and investment [25][39] Other Important Information - The company is building an additional 25 ReWalk systems in the U.S. to mitigate potential supply chain disruptions due to the conflict in Israel [17] - Medicare claims are expected to be paid on a 30- to 45-day cycle once the payment mechanism is fully established [16] Q&A Session Summary Question: Receivables and Medicare Payments - The company expects the majority of the remaining $2 million in Medicare receivables to be paid by the end of 2024 [27] Question: AlterG Business Growth - The growth in AlterG revenue is organic, driven by the sales team's efforts, with the backlog increasing from mid-60s to over 100 units [28] Question: Germany Market Progress - Germany is performing well, with growth in both Germany and the U.S., driven by court case settlements and insurance approvals [29] Question: Gross Margin Improvement - Gross margin improvement is attributed to higher volumes and production cost leverage, with expectations for further improvement through 2024 [32][33] Question: R&D Expenses - R&D expenses are expected to remain flat or slightly decrease in the coming quarters following the submission of the ReWalk 7 and NEO launch [34] Question: ReWalk 7 Enhancements - The ReWalk 7 includes user-driven enhancements such as multiple speeds, updated battery systems, and improved connectivity [36] Question: NEO Product Reception - The NEO anti-gravity product received positive early feedback, with sales occurring at the launch event [35]

Revenue Growth - Q2'24 revenue reached $6.7M, a 400% increase compared to $1.3M in Q2'23[1] - Revenue for Q2 2024 increased to $6.707 million, up from $1.337 million in Q2 2023, representing a 401.6% year-over-year growth[18] - Total revenues for the first six months of 2024 reached $11.990 million, a 367.1% increase compared to $2.567 million in the same period of 2023[18] - ReWalk system revenue increased by $1.8M, or 131%, driven by Medicare coverage expansion[4] - United States accounted for $3.849 million of Q2 2024 revenue, representing 57.4% of total revenue[21] - Europe contributed $2.308 million to Q2 2024 revenue, a 461.6% increase from $0.411 million in Q2 2023[21] Gross Profit and Margin - Gross margin was 41.1% in Q2'24, with adjusted gross margin improving to 46.9%, a 3.6 percentage point increase[5] - Gross profit for Q2 2024 was $2.757 million, compared to $0.576 million in Q2 2023, a 378.6% increase[18] - GAAP gross profit for June 2024 was $2,757 thousand, representing 41.1% of revenue[23] - Non-GAAP gross profit for June 2024 was $3,145 thousand, representing 46.9% of revenue[23] Operating Expenses and Losses - Total operating expenses in Q2'24 were $7.2M, with adjusted operating expenses at $6.9M, a $2.3M increase due to AlterG acquisition[6] - Net loss in Q2'24 was $4.3M, or $0.50 per share, with adjusted net loss at $3.6M, or $0.42 per share[7] - Net loss for Q2 2024 was $4.304 million, slightly improved from $4.642 million in Q2 2023[18] - Non-GAAP net loss for Q2 2024 was $3.584 million, compared to $3.430 million in Q2 2023[22] - Operating loss for Q2 2024 was $4.443 million, an improvement from $5.158 million in Q2 2023[18] - GAAP operating loss for June 2024 was $(4,443) thousand, representing 66.2% of revenue[23] - Non-GAAP operating loss for June 2024 was $(3,723) thousand, representing 55.5% of revenue[23] Cash Flow and Financial Position - Lifeward had $15.1M in unrestricted cash and cash equivalents as of June 30, 2024, with $2.6M in accounts receivable for Medicare claims[8] - Cash and cash equivalents decreased to $15.131 million as of June 30, 2024, down from $28.083 million at the end of 2023[19] - Total current assets decreased to $29.639 million as of June 30, 2024, from $39.222 million at the end of 2023[19] - Medicare claims from 2023 and first-half 2024 submissions have begun to be paid, improving cash flow[1][8] Product Development and Launches - Lifeward launched the NEO product line in June, featuring Differential Air Pressure Anti-Gravity Technology[2] - FDA submission for the 7th generation ReWalk design was completed in June, enhancing daily life use[2] Expense Breakdown - GAAP research & development expenses for June 2024 were $1,205 thousand, representing 18.0% of revenue[23] - Non-GAAP research & development expenses for June 2024 were $1,159 thousand, representing 17.3% of revenue[23] - GAAP sales & marketing expenses for June 2024 were $4,403 thousand, representing 65.6% of revenue[24] - Non-GAAP sales & marketing expenses for June 2024 were $3,913 thousand, representing 58.3% of revenue[24] - GAAP general & administrative expenses for June 2024 were $1,592 thousand, representing 23.7% of revenue[24] - Non-GAAP general & administrative expenses for June 2024 were $1,796 thousand, representing 26.7% of revenue[24] Revenue Guidance - Full-year 2024 revenue guidance remains between $28M to $32M, with expected sequential quarterly revenue improvement[9]

Earnings Performance - ReWalk Robotics reported a quarterly loss of $0.50 per share, beating the Zacks Consensus Estimate of a loss of $0.53, representing an earnings surprise of 5.66% [1][2] - The company's loss per share increased from $0.35 a year ago [1] - ReWalk has surpassed consensus EPS estimates three times over the last four quarters [2] Revenue Performance - ReWalk posted revenues of $6.71 million for the quarter ended June 2024, missing the Zacks Consensus Estimate by 0.05% [3] - Year-over-year revenue increased significantly from $1.34 million [3] - The company has topped consensus revenue estimates only once in the last four quarters [3] Stock Performance - ReWalk shares have lost about 41.8% since the beginning of the year, underperforming the S&P 500's gain of 13.9% [4] - The stock's immediate price movement will depend on management's commentary on the earnings call [4] Future Outlook - The current consensus EPS estimate is -$0.41 on $8.31 million in revenues for the coming quarter [8] - For the current fiscal year, the consensus EPS estimate is -$1.94 on $30.82 million in revenues [8] - The estimate revisions trend for ReWalk is mixed, resulting in a Zacks Rank 3 (Hold) [7] Industry Context - ReWalk belongs to the Zacks Medical - Instruments industry, which is currently in the top 34% of Zacks industries [9] - The top 50% of Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1 [9] Peer Comparison - Premier, Inc, another company in the Zacks Medical sector, is expected to report quarterly earnings of $0.49 per share, representing a year-over-year change of -27.9% [10] - Premier, Inc's revenues are expected to be $311.82 million, down 8.4% from the year-ago quarter [11]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to _________ Commission File Number: 001-36612 ReWalk Robotics Ltd. (Exact name of registrant as specified in charter) Israel Not applicable | --- | --- | --- | |-------- ...