ReWalk(RWLK)

Search documents
ReWalk(RWLK) - 2023 Q4 - Annual Results
2024-02-26 16:00
Revenue Performance - Record annual revenue for 2023 was $13.9 million, an increase of 151% compared to $5.5 million in 2022[2] - Total revenue for Q4 2023 was $6.9 million, up 216% from $2.2 million in Q4 2022[5] - Revenue from the former AlterG business contributed $4.7 million in Q4 2023, while revenue from the former ReWalk business was $2.2 million, flat year-over-year[5] - Lifeward anticipates revenue for Q1 2024 to be between $5.0 million and $5.5 million, with growth expected in subsequent quarters[10] - Revenue for the quarter ended December 31, 2023, was $6,884 million, a significant increase from $2,179 million for the same period in 2022, representing a 215% growth[21] - Revenue from the United States for the three months ended December 2023 was $3,338,000, compared to $1,110,000 in the same period of 2022, representing a growth of 200.5%[30] Gross Margin and Profitability - Gross margin for Q4 2023 was 35.5%, compared to 30.9% in Q4 2022; adjusted gross margin was 47.0% in Q4 2023, down from 52.8% in Q4 2022[6] - Gross profit for the quarter was $2,443 million, compared to $673 million in the prior year, reflecting a gross margin improvement from 30.9% to 35.5%[21] - Non-GAAP net loss for the quarter was $(3,296) million, an improvement from $(4,345) million in the prior year, with a non-GAAP net loss per share of $(0.05) compared to $(0.07)[22] Operating Expenses and Losses - Total operating expenses in Q4 2023 were $8.6 million, with $3.2 million attributed to AlterG; excluding AlterG, operating expenses were $5.4 million, down 4% from the previous year[7] - Operating loss for the quarter was $(6,137) million, which is 89.1% of revenue, compared to $(5,005) million or 229.6% of revenue in the same quarter last year[23] - Total operating expenses for the quarter were $8,580 million, up from $5,678 million in the same quarter last year, driven by increased sales and marketing expenses[21] Net Loss and Cash Flow - Net loss for Q4 2023 was $5.6 million, or $(0.13) per share, compared to a net loss of $5.3 million, or $(0.09) per share, in Q4 2022[8] - Net loss for the quarter was $(5,639) million, slightly higher than $(5,313) million in the previous year, with a basic net loss per share of $(0.13) compared to $(0.09)[22] - Net cash used in operating activities for the twelve months ended December 2023 was $(20,667,000), compared to $(17,891,000) for the same period in 2022[28] Future Expectations and Integration - Lifeward expects 2024 revenue to be between $28 million and $32 million, with non-GAAP gross margin expanding to the high 40%s[10] - The integration of commercial and operational resources is expected to yield $3 million in annual net savings starting in 2024[2] Regulatory Changes - The Centers for Medicare & Medicaid Services finalized the 2024 Home Health Rule, including exoskeletons in the Medicare brace benefit category, effective January 1, 2024[2] Assets and Liabilities - Cash and cash equivalents decreased to $28,083,000 in December 2023 from $67,896,000 in December 2022, reflecting a decline of 58.7%[26] - Total assets decreased to $63,192,000 in December 2023 from $74,236,000 in December 2022, a reduction of 14.9%[26] - Current liabilities increased to $11,795,000 in December 2023 from $4,782,000 in December 2022, indicating a rise of 146.5%[26] - The company reported a total of $12,525,000 in intangible assets as of December 2023, with goodwill amounting to $7,538,000[26] Research and Development - Research and development expenses for the quarter were $1,318 million, accounting for 19.1% of revenue, up from $1,103 million or 50.6% of revenue in the same quarter last year[23] Financial Income and Amortization - The company reported financial income of $420 million for the quarter, compared to $69 million in the same quarter last year[21] - The company incurred $846 million in amortization of intangible assets during the quarter, which represented 12.3% of revenue[23] Sales and Marketing Expenses - GAAP sales and marketing expenses for December 2023 were $4,846,000, representing 70.4% of revenue, compared to $4,088,000 in September 2023[24] - Non-GAAP sales and marketing expenses were $4,023,000 for December 2023, accounting for 58.4% of revenue, up from $3,766,000 in September 2023[24]
ReWalk Robotics Transforms Company Identity, Rebrands as Lifeward
Newsfilter· 2024-01-29 13:00
Core Insights - ReWalk Robotics Ltd. has officially rebranded as Lifeward, reflecting its commitment to innovative technology aimed at empowering individuals with physical limitations or disabilities [1][2] - The rebranding includes a new name, stock ticker (LFWD), logo, and website launch, showcasing a full portfolio of life-changing solutions [1][2] Company Overview - Lifeward designs, develops, and commercializes solutions that span the continuum of care in physical rehabilitation and recovery, delivering functional and health benefits in clinical and community settings [4] - The company's mission is to drive innovation to change the lives of individuals with physical limitations or disabilities, offering products like the ReWalk Exoskeleton, AlterG Anti-Gravity systems, ReStore Exo-Suit, and MyoCycle FES systems [4] Strategic Goals - The transformation into Lifeward aims to elevate the standard of care for individuals overcoming physical limitations, with a unified commercial team to better support customers across the rehabilitation spectrum [2] - The company believes that the rebranding will drive growth through improved customer support and a comprehensive portfolio of innovative solutions [2]
ReWalk Robotics Expands Direct Sales Coverage to Canada
Newsfilter· 2024-01-12 13:30
MARLBOROUGH, Mass. and BERLIN and YOKNEAM ILLIT, Israel, Jan. 12, 2024 (GLOBE NEWSWIRE) -- ReWalk Robotics Ltd. (NASDAQ:RWLK) ("ReWalk" or the "Company"), a leading provider of innovative technologies that enable mobility and wellness in rehabilitation and daily life for individuals with neurological conditions, announced today that the Company is expanding its direct sales coverage to Canada. This expansion occurs as the result of the integration between the former ReWalk and AlterG commercial teams follow ...
ReWalk Robotics Ltd. to Present at Sidoti Virtual Investor Conference on January 17
Newsfilter· 2024-01-11 22:00
MARLBOROUGH, Mass. and BERLIN and YOKNEAM ILIT, Israel, Jan. 11, 2024 (GLOBE NEWSWIRE) -- ReWalk Robotics Ltd. (NASDAQ:RWLK) ("ReWalk" or the "Company") announced that Larry Jasinski, Chief Executive Officer, and Mike Lawless, Chief Financial Officer, will provide an overview presentation and host one-on-one meetings with investors at the Sidoti January Virtual Investor Conference, taking place on January 17-18, 2024. The presentation will begin at 2:30 PM EST on January 17, 2024 and can be accessed live he ...
ReWalk Robotics Ltd. to Present at Sidoti Virtual Investor Conference on January 17
GlobeNewsWire· 2024-01-11 22:00
MARLBOROUGH, Mass. and BERLIN and YOKNEAM ILIT, Israel, Jan. 11, 2024 (GLOBE NEWSWIRE) -- ReWalk Robotics Ltd. (Nasdaq: RWLK) (“ReWalk” or the “Company”) announced that Larry Jasinski, Chief Executive Officer, and Mike Lawless, Chief Financial Officer, will provide an overview presentation and host one-on-one meetings with investors at the Sidoti January Virtual Investor Conference, taking place on January 17-18, 2024. The presentation will begin at 2:30 PM EST on January 17, 2024 and can be accessed live h ...
ReWalk(RWLK) - 2023 Q3 - Earnings Call Transcript
2023-11-14 17:08
ReWalk Robotics Ltd. (NASDAQ:RWLK) Q3 2023 Earnings Conference Call November 14, 2023 8:30 AM ET Company Participants Mike Lawless - Chief Financial Officer Larry Jasinski - Chief Executive Officer Conference Call Participants Swayampakula Ramakanth - H.C. Wainwright Operator Hello, and welcome to the Q3 2023 ReWalk Robotics Ltd. Earnings Conference Call. All participants will be in listen-only mode. [Operator Instructions] After today's presentation there will be an opportunity to ask questions. [Operator ...
ReWalk(RWLK) - 2023 Q3 - Quarterly Report
2023-11-13 16:00
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 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. (Exact name of registrant as specified in charter) Israel Not applicable (State or other juris ...
ReWalk(RWLK) - 2023 Q2 - Earnings Call Transcript
2023-08-11 14:59
ReWalk Robotics Ltd. (NASDAQ:RWLK) Q2 2023 Earnings Conference Call August 11, 2023 8:30 AM ET Company Participants Mike Lawless - CFO Larry Jasinski - CEO Conference Call Participants Swayampakula Ramakanth - H.C. Wainwright Operator Hello, and welcome to the Q2 2023 ReWalk Robotics Ltd. Earnings Conference Call. [Operator Instructions] Please note today's event is being recorded. I'd now like to turn the conference over to Mike Lawless, Chief Financial Officer. Please go ahead, sir. Mike Lawless Thank you ...
ReWalk(RWLK) - 2023 Q2 - Quarterly Report
2023-08-10 16:00
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, 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. (Exact name of registrant as specified in charter) Israel Not applicable | --- | --- | |----------- ...
Rewalk Robotics (RWLK) Investor Presentation - Slideshow
2023-05-15 16:54
ReWalk Robotics Investor Presentation May 2023 NASDAQ:RWLK 1 Confidential –ReWalk Robotics 2023 Forward Looking Statements ...