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About Lifeward Ltd. (Nasdaq: LFWD)
Lifeward Ltd., formerly known as ReWalk Robotics, is a pioneering medical device company dedicated to transforming the lives of individuals with physical limitations or disabilities. Founded in 2001, the company specializes in designing, developing, and commercializing innovative solutions that span the continuum of care in physical rehabilitation and recovery. Lifeward's mission is to empower individuals to regain mobility and independence through cutting-edge technologies that deliver proven functional and health benefits in clinical, home, and community settings.
Core Products and Technologies
Lifeward's product portfolio includes groundbreaking technologies tailored to address the diverse needs of patients and healthcare providers:
- ReWalk Exoskeleton: A wearable robotic system enabling individuals with spinal cord injuries to stand upright, walk, and turn, enhancing their mobility and quality of life.
- ReStore Exo-Suit: A soft exoskeleton designed for stroke rehabilitation, aiding in gait training and recovery.
- MyoCycle FES Systems: Functional electrical stimulation (FES) bikes that engage paralyzed muscles to promote cardiovascular health and muscle conditioning.
- AlterG Anti-Gravity Systems: Utilizing Differential Air Pressure (DAP) technology, these systems enable unweighted physical therapy and rehabilitation, reducing strain during exercise and recovery.
Market Presence and Operations
Lifeward operates across key markets in the United States, Israel, and Germany, leveraging its global footprint to drive innovation and accessibility. The company has established itself as a leader in the rehabilitation technology sector, supported by regulatory approvals such as FDA and CE/MDR certifications. Lifeward's focus on reimbursement pathways, including partnerships with Medicare in the U.S. and statutory health insurers like BARMER in Germany, further underscores its commitment to expanding access to its transformative solutions.
Business Model and Revenue Streams
Lifeward generates revenue through a combination of direct sales, licensing agreements, and strategic partnerships. Its direct sales approach, particularly in Germany, has enhanced margins and operational efficiency. Additionally, the company collaborates with healthcare providers and insurers to streamline reimbursement processes, ensuring broader adoption of its products. By integrating advanced technologies and robust support systems, Lifeward addresses critical gaps in rehabilitation care, catering to both clinical institutions and individual users.
Competitive Positioning
In the competitive landscape of medical rehabilitation technologies, Lifeward distinguishes itself through its proprietary innovations, extensive clinical validation, and a patient-centric approach. The company's ability to secure reimbursement policies for its products, such as the ReWalk Exoskeleton, positions it as a trusted partner for healthcare providers and insurers. Lifeward's commitment to research and development, coupled with its focus on user experience, ensures its solutions remain at the forefront of the industry.
Commitment to Innovation
Lifeward's relentless pursuit of innovation is evident in its continuous expansion of product offerings and market reach. By integrating advanced robotics, functional electrical stimulation, and anti-gravity technologies, the company addresses the evolving needs of patients and clinicians. Lifeward's dedication to improving mobility, health outcomes, and independence for individuals with physical limitations underscores its role as a transformative force in rehabilitation care.
Conclusion
With a strong foundation in technology, regulatory compliance, and market access, Lifeward Ltd. is redefining what is possible in physical rehabilitation and recovery. Its comprehensive product portfolio, strategic market presence, and unwavering commitment to enhancing patient lives make it a standout player in the medical device industry.
Lifeward (LFWD) reported record Q2 2024 revenue of $6.7M, up over 400% from $1.3M in Q2 2023. Key highlights include:
1. ReWalk revenue growth with 20 systems placed
2. Medicare claims for prior quarters beginning to be paid
3. Successful launch of NEO product line with Differential Air Pressure Anti-Gravity Technology
4. FDA submission for 7th generation ReWalk design
Financial results:
- Gross margin: 41.1% (46.9% non-GAAP)
- Operating loss: $4.4M ($3.7M non-GAAP)
- Net loss: $4.3M or $0.50 per share ($3.6M or $0.42 per share non-GAAP)
- Cash position: $15.1M with no debt
Lifeward maintains its 2024 revenue guidance of $28M to $32M, expecting sequential quarterly improvement.
Lifeward (Nasdaq: LFWD), formerly known as ReWalk Robotics, has announced it will release its second quarter 2024 financial results on August 15, 2024, before the markets open. The company, which specializes in rehabilitation and recovery solutions, will host a conference call and live webcast at 8:30 a.m. EDT on the same day. CEO Larry Jasinski and CFO Michael Lawless will lead the discussion of the financial results.
Investors and analysts can access the call through various toll-free and international numbers. The webcast will be available through the company's website at GoLifeward.com in the 'Investors' section and will also be archived for future viewing.
Lifeward has announced the retirement of Jeff Dykan, its Chairman of the Board, effective at the 2024 Annual Meeting of Shareholders. Dykan, who has led the company for 15 years, will be succeeded by Joseph Turk, a board member since 2022. Under Dykan's leadership, Lifeward, formerly known as ReWalk Robotics, achieved several milestones including FDA De Novo approval, an IPO, VA exoskeleton policy, and Medicare reimbursement for personal exoskeletons. Turk aims to leverage this foundation to drive commercial expansion and market development for Lifeward's ReWalk and AlterG product lines.
Lifeward has launched the AlterG NEO Anti-Gravity Treadmill, featuring an updated, user-friendly design and Leveraging Differential Air Pressure (DAP) technology. This treadmill aims to offer precise and consistent unweighting for physical rehabilitation and athletic training at a cost-effective price. The new model is expected to broaden access to this advanced technology for more clinics and training facilities. CEO Larry Jasinski highlighted that the NEO is a testament to Lifeward's commitment to expanding their market reach and helping more patients benefit from Anti-Gravity rehabilitation. The AlterG NEO will debut at the National Athletic Trainers Association (NATA) Clinical Symposia & AT Expo on June 26-27, 2024, in New Orleans.
Lifeward, formerly known as ReWalk Robotics (NASDAQ: LFWD), will be presenting at the Sidoti Small Cap Conference on June 12-13, 2024. CEO Larry Jasinski and CFO Mike Lawless will lead the presentation and conduct one-on-one meetings with investors. The presentation will start at 9:15 AM EDT on June 12 and will be accessible live. Lifeward will also host virtual one-on-one sessions with investors during the conference. Registration for the presentation and individual meetings is free and open to all interested investors through the Sidoti website.
Lifeward (NASDAQ: LFWD) reported a Q1 2024 revenue increase of 340% year-over-year to $5.3 million, driven by a new Medicare payment for ReWalk Personal Exoskeletons, resulting in 14 approved claims. However, the gross margin declined from 46.4% to 26.4%, mainly due to low sales volume of AlterG products. Operating expenses rose to $7.9 million, leading to an operating loss of $6.5 million and a net loss of $6.3 million, or $0.73 per share. Liquidity stood at $20.7 million in cash with no debt. The company anticipates 2024 revenue between $28 to $32 million, expecting better performance in Q2 due to enhanced Medicare reimbursements and a more effective sales team.
Lifeward, a global market leader in rehabilitation solutions, will report its first quarter 2024 financial results on May 15, 2024. The company aims to revolutionize rehabilitation, recovery, and life's pursuits for those with physical limitations or disabilities. The earnings call will be hosted by CEO Larry Jasinski and CFO Michael Lawless.
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