ReWalk Robotics Ltd. - RWLK STOCK NEWS

ReWalk Robotics announces on-track start to fiscal year with progress in advancing reimbursement coverage for Medicare beneficiaries. Total revenue for Q1 2023 was $1.2 million, up 40% compared to Q1 2022. Gross margin increased by 16 percentage points. Operating expenses were $4.9 million. ReWalk Personal Exoskeleton received FDA clearance for use on stairs and curbs. ReWalk aims to submit ten additional Medicare claims in Q2. Net loss for Q1 2023 was $4.3 million.

ReWalk Robotics to showcase innovative exoskeleton at Abilities Expo in New York

ReWalk Robotics Ltd. has received FDA clearance for its ReWalk Personal Exoskeleton to operate on stairs and curbs, making it the only device of its kind in the U.S. with such approval. This breakthrough, recognized by the FDA as a "Breakthrough Device," allows paralyzed individuals with spinal cord injuries to access diverse environments, enhancing their quality of life. The ReWalk system, which combines advanced mechanical design with proprietary software, has been successfully used in Europe for years, demonstrating safety and efficacy. The company aims to expand access to this technology through improved reimbursement pathways, reflecting a commitment to advancing mobility for spinal cord injury patients.

ReWalk Robotics Ltd. (RWLK) reported an impressive financial performance for Q4 2022, achieving revenue of $2.2 million, a 75% increase from $1.2 million in Q4 2021. This growth was driven by increased sales of personal units in Europe and the U.S., along with higher volumes of distributed products. However, the annual revenue decreased to $5.5 million in 2022 from $6.0 million in 2021, primarily due to lower U.S. rehabilitation unit sales and currency exchange impacts. Gross profit for Q4 2022 rose to $0.7 million (30.8% of revenue) while the full-year gross profit fell to $1.9 million (34.6% of revenue). The company had $67.9 million in cash with no debt.

ReWalk Robotics Ltd. (RWLK) announced its plans to release financial results for the fourth quarter and fiscal year-end 2022 on February 23, 2023, at 8:30 AM EST. The earnings call, led by CEO Larry Jasinski and CFO Michael Lawless, will provide insights into the company's performance.

ReWalk Robotics focuses on developing and marketing wearable robotic exoskeletons for individuals with lower limb disabilities due to spinal cord injuries or strokes. The company aims to improve the quality of life for these individuals through innovative technology.

ReWalk Robotics, a manufacturer of robotic devices for individuals with lower limb disabilities, showcased its technology at the Modern Miracles Celebration in Antwerp, hosted by the Israeli Embassy. Her Excellency Idit Rosenzweig Abu highlighted ReWalk as a symbol of Israeli innovation in healthcare. Long-time user Jacques Depuydt shared positive personal experiences with the ReWalk exoskeleton, illustrating its life-changing impact. CEO Larry Jasinski expressed gratitude for the opportunity to raise awareness about the ReWalk technology's benefits and expand access.

ReWalk Robotics Ltd. (Nasdaq: RWLK) announced a $5.8 million extension of its share repurchase program, complementing the existing $8.0 million buyback initiative approved by the Board and an Israeli court. The program reflects the Board's confidence in the company's long-term potential and aims to maximize shareholder value. The company is projected to rebound in revenue as it navigates post-COVID challenges and explores new product lines. The share repurchases will be funded by available working capital and are subject to legal and market conditions.