Revenue Growth - Q2'24 revenue reached 6.7M,a4001.3M in Q2'23[1] - Revenue for Q2 2024 increased to 6.707million,upfrom1.337 million in Q2 2023, representing a 401.6% year-over-year growth[18] - Total revenues for the first six months of 2024 reached 11.990million,a367.12.567 million in the same period of 2023[18] - ReWalk system revenue increased by 1.8M,or1313.849 million of Q2 2024 revenue, representing 57.4% of total revenue[21] - Europe contributed 2.308milliontoQ22024revenue,a461.60.411 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 2.757million,comparedto0.576 million in Q2 2023, a 378.6% increase[18] - GAAP gross profit for June 2024 was 2,757thousand,representing41.13,145 thousand, representing 46.9% of revenue[23] Operating Expenses and Losses - Total operating expenses in Q2'24 were 7.2M,withadjustedoperatingexpensesat6.9M, a 2.3MincreaseduetoAlterGacquisition[6]−NetlossinQ2′24was4.3M, or 0.50pershare,withadjustednetlossat3.6M, or 0.42pershare[7]−NetlossforQ22024was4.304 million, slightly improved from 4.642millioninQ22023[18]−Non−GAAPnetlossforQ22024was3.584 million, compared to 3.430millioninQ22023[22]−OperatinglossforQ22024was4.443 million, an improvement from 5.158millioninQ22023[18]−GAAPoperatinglossforJune2024was(4,443) thousand, representing 66.2% of revenue[23] - Non-GAAP operating loss for June 2024 was (3,723)thousand,representing55.515.1M in unrestricted cash and cash equivalents as of June 30, 2024, with 2.6MinaccountsreceivableforMedicareclaims[8]−Cashandcashequivalentsdecreasedto15.131 million as of June 30, 2024, down from 28.083millionattheendof2023[19]−Totalcurrentassetsdecreasedto29.639 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 1,159thousand,representing17.34,403 thousand, representing 65.6% of revenue[24] - Non-GAAP sales & marketing expenses for June 2024 were 3,913thousand,representing58.31,592 thousand, representing 23.7% of revenue[24] - Non-GAAP general & administrative expenses for June 2024 were 1,796thousand,representing26.728M to $32M, with expected sequential quarterly revenue improvement[9]
