Revenue Growth and Performance - Q1'24 revenue of 1.2M[1][5] - Revenue from ReWalk products increased by 2.5M, driven by Medicare payment expansion[5] - Total revenues for Q1 2024 were 1.230 million in Q1 2023[28] - United States revenues accounted for 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 569 thousand, or 46.2% of revenues in Q1 2023[29] Operating and Net Loss - Operating loss increased to 4.3M in Q1'23, driven by higher operating expenses[7][8] - Net loss widened to 0.73 per share) in Q1'24 from 0.51 per share) in Q1'23[9] - GAAP net loss for Q1 2024 was (4.321) million in Q1 2023[28] - Non-GAAP net loss for Q1 2024 was (3.867) million in Q1 2023[28] - GAAP operating loss for Q1 2024 was (4.321) million, or 351.3% of revenues in Q1 2023[29] Cash and Financial Position - Company maintains 20.744 million as of March 31, 2024, from (7.673) million in Q1 2024, compared to 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 2.8M, impacted by temporary integration and training of commercial teams[5]
ReWalk(LFWD) - 2024 Q1 - Quarterly Results