Welcome to our dedicated page for ReWalk Robotics Ltd. news (Ticker: LFWD), a resource for investors and traders seeking the latest updates and insights on ReWalk Robotics Ltd. stock.
Lifeward™, formerly known as ReWalk Robotics Ltd, is a pioneering medical device company dedicated to transforming the lives of individuals with physical limitations and disabilities. Founded in 2001, Lifeward designs, develops, and commercializes innovative solutions that span the continuum of care in physical rehabilitation and recovery. The company's mission is to relentlessly drive innovation, delivering functional and health benefits in clinical settings as well as in the home and community.
Headquartered in the United States, with additional operations in Israel and Germany, Lifeward's product portfolio includes the ReWalk Personal Exoskeleton, ReWalk Rehabilitation Exoskeleton, AlterG Anti-Gravity systems, ReStore Exo-Suit, and MyoCycle FES systems. These devices empower individuals to achieve their goals through improved mobility and health outcomes.
Lifeward has garnered significant recognition for its life-changing technology, particularly the ReWalk Exoskeleton, which has been crucial for individuals with spinal cord injuries. The company's efforts have been acknowledged by the Centers for Medicare & Medicaid Services (CMS), which has made strides in establishing a reimbursement pathway for the ReWalk Personal Exoskeleton. This development is a significant step toward making this revolutionary technology accessible to more people.
In recent news, Lifeward has unveiled its new branding and expanded its portfolio with the inclusion of AlterG Anti-Gravity systems. The rebranding reflects the company's broader vision and commitment to elevating the standard of care for individuals facing physical limitations. CEO Larry Jasinski stated that the transformation to Lifeward symbolizes their goal to be the driving force in overcoming physical disabilities.
Lifeward operates through markets in the United States and Europe, with additional sales in Asia, the Middle East, and South America. The company's financial health remains robust, as evidenced by their latest financial results and continuous efforts to innovate and expand their market presence. Lifeward's commitment to excellence is further highlighted by partnerships with healthcare providers and legislative efforts to enhance access to their technologies for veterans and other individuals in need.
For more information about Lifeward's mission and product offerings, visit GoLifeward.com.
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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