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ReWalk(LFWD) - 2024 Q4 - Annual Results
LFWDReWalk(LFWD)2025-03-07 13:16

Revenue Performance - Lifeward reported record annual revenue of 25.7millionfor2024,anincreaseof8525.7 million for 2024, an increase of 85% compared to 2023[4] - Fourth quarter revenue was 7.5 million, up 10% from 6.9millioninQ42023[5]−ReWalkPersonalExoskeletonsalessurged1306.9 million in Q4 2023[5] - ReWalk Personal Exoskeleton sales surged 130% in 2024, driven by newly established Medicare coverage[4] - Revenue for Q4 2024 reached 7,545 million, a 9.6% increase from 6,884millioninQ42023[25]−GrossprofitfortheyearendedDecember31,2024,was6,884 million in Q4 2023[25] - Gross profit for the year ended December 31, 2024, was 8,216 million, representing a 84.5% increase compared to 4,453millionin2023[25]−ThecompanyexperiencedasignificantincreaseinrevenuefortheyearendedDecember31,2024,comparedto2023,indicatingpositivegrowthtrends[33]FinancialLosses−Lifeward′soperatinglossforQ42024was4,453 million in 2023[25] - The company experienced a significant increase in revenue for the year ended December 31, 2024, compared to 2023, indicating positive growth trends[33] Financial Losses - Lifeward's operating loss for Q4 2024 was 15.2 million, compared to 6.1millioninQ42023[8]−Adjustedoperatinglossonanon−GAAPbasiswas6.1 million in Q4 2023[8] - Adjusted operating loss on a non-GAAP basis was 3.3 million in Q4 2024, slightly improved from a loss of 3.8millioninQ42023[8]−OperatinglossforQ42024was3.8 million in Q4 2023[8] - Operating loss for Q4 2024 was (15,228) million, compared to (6,137)millioninQ42023,indicatingasignificantincreaseinlosses[32]−NetlossfortheyearendedDecember31,2024,was(6,137) million in Q4 2023, indicating a significant increase in losses[32] - Net loss for the year ended December 31, 2024, was (28,942) million, up from (22,133)millionin2023,reflectinga30.5(22,133) million in 2023, reflecting a 30.5% increase in losses[31] Operating Expenses - Total operating expenses in Q4 2024 were 17.1 million, up from 8.6millioninQ42023[7]−Salesandmarketingexpensesfortheyearincreasedto8.6 million in Q4 2023[7] - Sales and marketing expenses for the year increased to 17,949 million from 13,922million,a28.513,922 million, a 28.5% rise[25] - Cash and cash equivalents decreased to 6,746 million at the end of December 2024, down from 28,083millioninDecember2023[27]−Totalcurrentassetsdecreasedto28,083 million in December 2023[27] - Total current assets decreased to 21,294 million in December 2024 from 39,222millioninDecember2023[27]ResearchandDevelopment−ResearchanddevelopmentexpensesforQ42024totaled39,222 million in December 2023[27] Research and Development - Research and development expenses for Q4 2024 totaled 1,131 million, down from 1,318millioninQ42023[25]−GAAPresearchanddevelopmentexpensesforQ42024were1,318 million in Q4 2023[25] - GAAP research and development expenses for Q4 2024 were 1,131,000, representing 15.0% of revenue, compared to 1,318,000or19.11,318,000 or 19.1% in Q4 2023[33] - Non-GAAP research and development expenses for the year ended December 31, 2024, were 4,457,000, which is 17.3% of revenue, up from 3,815,000or27.53,815,000 or 27.5% in the previous year[33] - Future outlook includes continued investment in research and development to drive innovation and market expansion[33] General and Administrative Expenses - GAAP general and administrative expenses for Q4 2024 were 1,771,000, which is 23.5% of revenue, a decrease from 2,416,000or35.12,416,000 or 35.1% in Q4 2023[33] - Non-GAAP general and administrative expenses for the year ended December 31, 2024, were 7,277,000, representing 28.3% of revenue, compared to 6,477,000or46.76,477,000 or 46.7% in 2023[33] Stock-Based Compensation and Restructuring - Stock-based compensation expenses for the year ended December 31, 2024, totaled (696,000), accounting for 2.7% of revenue, compared to (781,000)or5.6(781,000) or 5.6% in 2023[33] - The company reported a restructuring adjustment of (176,000) for the year ended December 31, 2024, which is 1.3% of revenue[33] Future Projections - The company expects full year revenue for 2025 to be between 28millionand28 million and 30 million, with adjusted gross margins projected between 47% and 49%[11] - Lifeward anticipates a quarterly adjusted operating loss of approximately $1 million by Q4 2025 as operational efficiencies are realized[12]