Company Overview - Lifeward designs, develops, and commercializes life-changing solutions for physical rehabilitation and recovery, including products like the ReWalk Exoskeleton, AlterG Anti-Gravity System, MyoCycle FES System, and ReStore Exo-Suit [6] - The company was founded in 2001 and operates in the United States, Israel, and Germany [7] - Lifeward's mission is to drive innovation to change the lives of individuals with physical limitations or disabilities [2] 2024 Achievements - Achieved a defined Exoskeleton category as an orthotic brace classified for lump sum payment with CMS, a significant industry milestone [3] - Delivered over 70 new ReWalk systems in 2024, more than double the prior year's total [5] - Established a pipeline of approximately 100 qualified users for future ReWalk submissions [5] - Successfully launched the NEO and NEO+ additions to the AlterG product line, expanding market penetration [5] - Completed operational consolidation of AlterG, including the closure of the Fremont facility, expected to reduce overhead and operating costs [5] - Recovered from initial headwinds in the U.S. capital equipment market, with over 140 AlterG units placed in Q4 2024, up 90% sequentially [5] 2025 Objectives - Focus on driving Exoskeleton adoption through digital marketing, building relationships with key centers, streamlining patient experience, and expanding physician education [5] - Expand AlterG penetration to national chains and international distributors with the new NEO and NEO+ offerings [5] - Complete FDA and CE clearance for ReWalk 7 in the first half of 2025, featuring cloud connectivity, multiple walking speeds, crutch-based control, and improved batteries [5] - Aim to achieve non-GAAP operating profitability by the second half of 2026 [4] - Hold an investor event in New York City on February 20, 2025, to provide more in-depth information and interaction [6] Financial Highlights - Preliminary 2024 financial results met revised revenue guidance [4] - Successfully raised $5 million in additional capital in early 2025 to support Exoskeleton and AlterG awareness, adoption, and liquidity [4] - Financial priorities include driving efficient, sustainable growth, increasing margins, and reducing expenses [5]
Lifeward CEO Issues Year-End 2024 Open Letter to Shareholders and Provides 2025 Commercial and Operational Priorities