Lifeward Ltd. Reports Fourth Quarter and Full Year 2024 Financial Results

Core Insights - Lifeward Ltd. reported record quarterly revenue of $7.5 million and annual revenue of$25.7 million for 2024, marking an 85% increase from 2023 [1][5][9] - The company is focusing on a strategic shift towards profitability with its 2025 Sustainable Growth Plan, which aims to streamline costs while growing core product lines [1][5][9] - Lifeward's CEO highlighted the achievement of Medicare coverage for the ReWalk exoskeleton as a significant milestone that is expected to drive sustained growth [3][5] Financial Performance - Revenue for Q4 2024 was $7.5 million, a 10$6.9 million in Q4 2023 [3][21] - Revenue from ReWalk exoskeletons, MyoCycles, and ReStore Exo-Suits was $2.0 million, down 6$5.5 million compared to Q4 2023, driven by strong international demand [3][21] Profitability Metrics - Gross margin for Q4 2024 was 24.4%, down from 35.5% in Q4 2023, with an adjusted gross margin of 45.4% [4][21] - Total operating expenses in Q4 2024 were $17.1 million, significantly higher than$8.6 million in Q4 2023, largely due to an impairment charge [5][21] - The operating loss for Q4 2024 was $15.2 million, compared to$6.1 million in Q4 2023, with an adjusted operating loss of $3.3 million [6][21] Net Loss and Cash Position - The net loss for Q4 2024 was$15.3 million, or $1.73 per share, compared to a net loss of$5.6 million, or $0.66 per share, in Q4 2023 [7][21] - As of December 31, 2024, Lifeward had$6.7 million in unrestricted cash and cash equivalents, with no debt [8][21] Future Guidance - For 2025, Lifeward expects full-year revenue between $28 million and$30 million, with adjusted gross margins of 47% to 49% [9][10] - The company anticipates non-GAAP operating expenses of $22 million to$23 million, leading to a projected non-GAAP operating loss of $7 million to$9 million [9][10] - Lifeward expects Q1 2025 revenue to be the lowest of the year due to seasonal trends, with sequential growth anticipated throughout the year [10]