MARLBOROUGH, Mass. and YOKNEAM ILLIT, Israel, Aug. 08, 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 the Company will release its second quarter 2024 financial results before the markets open on Thursday, August 15, 2024. ...

MARLBOROUGH, Mass. and YOKNEAM ILLIT, Israel, July 02, 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 Jeff Dykan, current Chairman of the Lifeward Board of Directors, will retire from his role and will not stand for reelecti ...

MARLBOROUGH, Mass. and YOKNEAM ILLIT, Israel, July 02, 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 Jeff Dykan, current Chairman of the Lifeward Board of Directors, will retire from his role and will not stand for reelecti ...

Financial Data and Key Metrics - Q1 2024 revenue was $5.3 million, a 340% increase compared to Q1 2023 revenue of $1.2 million [3][15] - Revenue from ReWalk systems was $2.2 million in Q1 2024, up $1.3 million from Q1 2023, driven by Medicare approvals [15] - Revenue from AlterG was $2.8 million in Q1 2024, below expectations due to integration and training impacts [44] - GAAP gross profit was $1.4 million (26.4% of revenue) in Q1 2024, compared to $0.6 million (46.4% of revenue) in Q1 2023 [22] - Non-GAAP gross profit was $1.8 million (33.7% of revenue) in Q1 2024, compared to 46.2% in Q1 2023 [51] - GAAP operating loss was $6.5 million in Q1 2024, compared to $4.3 million in Q1 2023 [25] - Non-GAAP operating loss was $5.5 million in Q1 2024, compared to $3.9 million in Q1 2023 [25] - Cash and equivalents at the end of Q1 2024 were $20.7 million, with no debt [54] Business Line Data and Key Metrics - ReWalk systems: 32 active rentals in the pipeline, up 8 from last quarter, with 24 in Germany, 6 in VA hospitals, and 2 with self-pay individuals [21] - AlterG systems: 68 units in backlog at the end of Q1 2024, up 22 units from Q4 2023 [50] - Medicare claims: 14 approved in Q1 2024, with 35 submitted and 21 pending [3] - Other revenue (primarily MyoCycles): $0.3 million in Q1 2024, up $0.1 million from Q1 2023 [16] Market Data and Key Metrics - Medicare beneficiaries: The company plans to deliver 60 to 75 more systems to qualified Medicare patients in 2024 [3] - Germany: 54 ReWalk cases in process at the end of Q1 2024 [50] - U.S.: 37 ReWalk cases in process at the end of Q1 2024, many for Medicare beneficiaries [50] Company Strategy and Industry Competition - The company aims to achieve $28 million to $32 million in sales for 2024, with a focus on Medicare market penetration and AlterG growth [29][41] - A new AlterG anti-gravity model is planned for launch in mid-2024, targeting smaller clinics [31] - The company is working on a seventh-generation ReWalk design, pending FDA clearance [31] - The goal is to reach breakeven operations by 2026, with annual revenue of $50 million to $55 million [58] Management Commentary on Operating Environment and Future Outlook - The company expects quarterly revenue to build through 2024, driven by Medicare contributions and AlterG sales [55] - Management anticipates a reduction in operating loss quarter-over-quarter, driven by revenue growth and organizational efficiency [13][58] - The company is focused on scaling operations to process 100 systems in 2024, 200 in 2025, and 400 in 2026 [57] Other Important Information - The company reserved approximately $700,000 of revenue in Q1 2024 pending Medicare and supplemental insurance claim approvals, affecting gross margin by 8 percentage points [49] - If all prior Medicare claims are approved, an additional $300,000 of revenue could be recognized in future quarters [47] - The company expects to recover a portion of Q1 overages as sales volume ramps up and gross margins improve [26] Q&A Session Summary Question: How much of the 35 Medicare units were recognized in Q1 2024? - Answer: Revenue was recognized for one unit in Q1 2024, with the remaining 34 units to be recognized in future quarters as claims are approved [70][71] Question: Is the process for Medicare reimbursement fully in place? - Answer: The company has made significant progress but continues to educate healthcare providers and streamline the process [63] Question: Can you comment on the flow of interest in Q2 2024? - Answer: The company has seen a significant increase in leads and is working to educate physicians and clinics about Medicare reimbursement [72][73]

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 March 31, 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 | | --- | --- | | (State ...

Revenue Growth and Performance - Q1'24 revenue of $5.3M, up 340% compared to Q1'23 revenue of $1.2M[1][5] - Revenue from ReWalk products increased by $1.3M (90%) to $2.5M, driven by Medicare payment expansion[5] - Total revenues for Q1 2024 were $5.283 million, a significant increase from $1.230 million in Q1 2023[28] - United States revenues accounted for $3.747 million, representing 70.9% of total revenues in Q1 2024[28] - Europe revenues were $1.169 million, contributing 22.1% to total revenues in Q1 2024[28] Medicare Reimbursement and Expansion - Medicare payment for ReWalk personal exoskeletons approved, with 14 claims processed since fee schedule established[1][4] - Medicare reimbursement for exoskeletons finalized, expanding access to ReWalk technology for spinal cord injury patients[3][4] Gross Margin and Profitability - Gross margin declined to 26.4% in Q1'24 from 46.4% in Q1'23, primarily due to low AlterG sales volume[6] - Non-GAAP gross profit for Q1 2024 was $1.782 million, or 33.7% of revenues, compared to $569 thousand, or 46.2% of revenues in Q1 2023[29] Operating and Net Loss - Operating loss increased to $6.5M in Q1'24 from $4.3M in Q1'23, driven by higher operating expenses[7][8] - Net loss widened to $6.3M ($0.73 per share) in Q1'24 from $4.3M ($0.51 per share) in Q1'23[9] - GAAP net loss for Q1 2024 was $(6.276) million, compared to $(4.321) million in Q1 2023[28] - Non-GAAP net loss for Q1 2024 was $(5.299) million, an increase from $(3.867) million in Q1 2023[28] - GAAP operating loss for Q1 2024 was $(6.502) million, or 123.1% of revenues, compared to $(4.321) million, or 351.3% of revenues in Q1 2023[29] Cash and Financial Position - Company maintains $20.7M in unrestricted cash and cash equivalents with no debt as of March 31, 2024[10] - Cash and cash equivalents decreased to $20.744 million as of March 31, 2024, from $28.083 million as of December 31, 2023[24] - Net cash used in operating activities was $(7.673) million in Q1 2024, compared to $(5.233) million in Q1 2023[26] Revenue Guidance and Outlook - 2024 revenue guidance remains at $28M to $32M, with Q2'24 expected to show sequential improvement[11] Research and Development Expenses - GAAP research & development expenses were $1.291 million, or 24.4% of revenues in Q1 2024, compared to $752 thousand, or 61.1% of revenues in Q1 2023[30] AlterG Performance - AlterG revenue was $2.8M, impacted by temporary integration and training of commercial teams[5]

Financial Data and Key Metrics - Revenue for Q4 2023 was $6.9 million, up 216% from $2.2 million in Q4 2022, primarily due to the acquisition of AlterG [8] - Excluding AlterG sales, Q4 2023 revenue was $2.2 million, consistent with Q4 2022 [8] - GAAP operating loss for Q4 2023 was $6.1 million, compared to $5 million in Q4 2022 [12] - Non-GAAP operating loss improved to $3.8 million in Q4 2023 from $4 million in Q4 2022 [12] - Gross profit for Q4 2023 was $2.4 million (35.5% of revenue), up from $0.7 million (30.9% of revenue) in Q4 2022 [61] Business Line Data and Key Metrics - ReWalk Exoskeleton revenue in Q4 2023 was flat compared to Q4 2022, with the same number of units sold [87] - MyoCycle FES training cycle revenue declined slightly, offset by an increase in ReStore unit revenue [87] - AlterG backlog at the end of Q4 2023 was 46 systems, lower than Q3 2023 due to commercial reorganization [9] - The company expects to launch a new AlterG anti-gravity system mid-2024, targeting smaller private practice clinics [97] Market Data and Key Metrics - The company achieved Medicare reimbursement for the ReWalk personal exoskeleton in 2023 and expects Medicare claims to begin processing in April 2024 [4][74] - The US market is a key focus, with plans to expand Medicare coverage and engage private payers and Workers Compensation groups [18] - In Germany, the company expects up to 50% year-over-year growth in the exoskeleton market [102] - The company has 19 distributors in the EU and 22 distributors in the rest of the world [5] Company Strategy and Industry Competition - The company rebranded as Lifeward, integrating ReWalk and AlterG to unify teams and leverage strengths, resulting in $3 million in annual net savings expected in 2024 [56] - The company is shifting its US sales focus to physician referrals to improve scalability and patient qualification [71][108] - Technological advancements include a new AlterG anti-gravity system for smaller clinics and AI integration into exoskeleton prototypes [97][98] - The company aims to achieve profitability by 2026, driven by revenue growth, cost reductions, and operational synergies [72][85] Management Commentary on Operating Environment and Future Outlook - Management is optimistic about Medicare reimbursement finalization, expected to positively impact stock price and revenue growth [13][74] - The company expects 2024 revenue to be between $28 million and $32 million, driven by Medicare claims and new product launches [66][83] - Operating losses are expected to decline sequentially in 2024, with visibility to future operating profit [16][67] - The company is prepared for a reverse stock split if CMS reimbursement rates are not finalized in time to meet NASDAQ compliance [65][92] Other Important Information - The company has 70 ReWalk cases in process as of December 31, 2023, with 49 in Germany and 21 in the US [60] - Cash and cash equivalents at the end of Q4 2023 were $28.1 million, with no debt [91] - The company has submitted 35 claims to Medicare and plans to submit an additional 60-75 claims in 2024 [83][88] Q&A Session Summary Question: CMS Reimbursement Timeline - The company expects CMS reimbursement rules to take effect on April 1, 2024, with final payment rates anticipated soon [74][101] Question: Growth Expectations in Germany and Europe - The company expects strong growth in Germany, with up to 50% year-over-year growth in the exoskeleton market, supported by 19 distributors in the EU [102][117] Question: AlterG Revenue Dynamics and New Product Launch - AlterG revenue is expected to grow sequentially in 2024, with a new product launch targeting smaller clinics mid-year [39][76] - The new AlterG product is designed for smaller private practices, addressing a previously underserved market of approximately 15,000 clinics in the US [25][119] Question: Physician Referral Strategy - The company is shifting to a physician-focused referral model to improve scalability and patient qualification, targeting PM&R doctors initially [71][108][126] Question: Integration Savings Timeline - Integration savings of $3 million are expected to phase in throughout 2024, with full impact realized later in the year [130]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT OR 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 | | --- | --- | | (State ...

Exhibit 99.1 Lifeward Reports Fourth Quarter and Full Year 2023 Financial Results Highest quarterly and annual revenue in the history of Lifeward Commercial and operational integration complete; synergies expected to yield $3 million in annual net savings MARLBOROUGH, MA, and YOKNEAM ILLIT, Israel, February 27, 2024 – 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 rehabilitatio ...

FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 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. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 (Exact name of registrant as specified in charter) | Israel | Not applicable | | --- | --- | | ...