ReWalk Robotics Ltd. - RWLK STOCK NEWS

ReWalk Robotics Ltd. (RWLK) announced its financial results for Q3 2022, reporting total revenue of $0.9 million, down from $2.0 million in Q3 2021. Operating expenses rose to $5.7 million, increasing from $3.8 million the previous year. The gross margin decreased to 25%, compared to 58% in Q3 2021, primarily due to fixed production costs and rising expenses. The net loss expanded to $5.5 million, up from $2.7 million. ReWalk submitted its first Medicare case for coverage, aiming to enhance access to its exoskeleton technology. The company maintains a strong cash position of $74.0 million.

ReWalk Robotics Ltd. (Nasdaq: RWLK) is set to release its third quarter 2022 financial results on November 7, 2022, at 8:30 AM Eastern time. The announcement was made from the company’s headquarters in Marlborough, Massachusetts, Berlin, Germany, and Yokneam Ilit, Israel. CEO Larry Jasinski and CFO Michael Lawless will host a conference call to discuss these results. Investors can access the call through various numbers, or via a live webcast available on the company's investor relations page.

ReWalk Robotics Ltd. (Nasdaq: RWLK) announced it will begin submitting Medicare cases for coverage of its exoskeleton technology following an affirmation from the Centers for Medicare and Medicaid Services (CMS) on September 26, 2022. CMS has clarified that Medicare Administrative Contractors (MACs) can exercise discretion in covering the ReWalk exoskeleton. The company emphasizes the health benefits of its technology for spinal cord injury (SCI) patients, including improved mental health and gastrointestinal function, advocating for broader access for these beneficiaries.

ReWalk Robotics (RWLK) announced that the German Federal Social Court will hold a hearing on November 10, 2022, to determine the classification of exoskeletons for spinal cord injury patients under Statutory Health Insurance (SHI). This classification is crucial as it will provide national guidance for patients and insurers regarding the use of exoskeleton medical aids. CEO Larry Jasinski emphasized that establishing this classification could enhance access to ReWalk’s technology, thereby addressing a critical need for individuals regaining the ability to walk.

ReWalk Robotics Ltd. has appointed Michael Lawless as Chief Financial Officer, effective September 19, 2022. With over 20 years of finance experience in life sciences and technology sectors, Lawless aims to enhance financial discipline and strategic decisions at ReWalk. His expertise in mergers and acquisitions will be pivotal as the company seeks complementary acquisitions. The expected CMS reimbursement for ambulation technology could expand access for spinal cord injury patients. Lawless will receive 225,000 Restricted Stock Units, vesting over four years, contingent on continued employment.

ReWalk Robotics Ltd. (RWLK) reported a revenue increase to $1.6 million for Q2 2022, up from $1.4 million in Q2 2021, driven by higher sales of ReWalk Personal 6.0 units. However, total operating expenses rose to $5.1 million, compared to $3.9 million last year, primarily due to increased employee and consulting costs. The company faced a net loss of $4.4 million, up from a loss of $3.1 million in the same quarter last year. ReWalk maintains a strong cash position with $78.8 million available as of June 30, 2022, and is actively pursuing reimbursement classification for its device from CMS.

ReWalk Robotics Ltd. (RWLK) will announce its second quarter 2022 financial results on August 9, 2022, at 8:30 AM EDT. CEO Larry Jasinski and Director of Finance Almog Adar will lead a conference call to discuss the results. Interested parties can join the call by dialing specific numbers listed in the release or via a webcast available on the company’s investor site. ReWalk develops wearable robotic exoskeletons for individuals with lower limb disabilities, aiming to improve their quality of life through advanced technology.

ReWalk Robotics Ltd. (Nasdaq: RWLK) announced the results of its 2022 Annual Meeting, where shareholders re-elected key directors and declined proposals from Creative Value Capital Limited Partnership. The Board appointed Hadar Levy, who has experience in corporate finance and healthcare, to enhance its composition. The company aims to improve shareholder value by increasing access to wearable robotic exoskeletons through expanded reimbursement in the U.S. and Germany. The results will be filed on Form 8-K with the SEC.

ReWalk Robotics Ltd. (RWLK) has received Israeli court approval to repurchase up to $8 million of its Ordinary Shares, valid through January 20, 2023. This share repurchase program, which allows various buyback methods in accordance with securities regulations, aims to enhance shareholder value. The program could be modified or halted by the company based on market conditions and financial needs. ReWalk develops robotic exoskeletons to assist individuals with lower limb disabilities.