Welcome to our dedicated page for Lifeward news (Ticker: LFWD), a resource for investors and traders seeking the latest updates and insights on Lifeward stock.
Lifeward Ltd. (Nasdaq: LFWD) is a medical device company that focuses on technologies for physical rehabilitation and recovery, including the ReWalk Exoskeleton, ReWalk 7 Personal Exoskeleton, ReStore Exo-Suit, MyoCycle FES System, and AlterG Anti-Gravity System. This news page aggregates company press releases and third-party coverage so readers can follow how Lifeward’s business and strategy develop over time.
Recent news highlights Lifeward’s progress in reimbursement and market access for its ReWalk 7 Personal Exoskeleton. The company has reported prior authorization approvals and payments from Medicare Advantage plans, including UnitedHealthcare and a Humana Medicare Advantage Plan, following the establishment of a formal Medicare reimbursement pathway for personal exoskeletons by CMS. These updates provide insight into payer adoption trends and Lifeward’s efforts to support access for individuals with spinal cord injury.
Lifeward’s news flow also covers international expansion and regulatory milestones. The company announced CE mark approval for the ReWalk 7 Personal Exoskeleton, enabling commercial sales in Europe, and a distribution agreement with Verita Neuro to offer ReWalk in Mexico, Thailand, and the United Arab Emirates. These items help investors and clinicians understand how Lifeward is extending its commercial footprint beyond its core markets in the United States, Israel, and Germany.
Another important theme in Lifeward’s news is its strategic partnership with Oramed Pharmaceuticals. The parties have agreed to transfer Oramed’s Protein Oral Delivery (POD™) technology to Lifeward, with Oramed becoming a significant shareholder and managing the clinical program. Coverage of this transaction explains how Lifeward aims to operate as a biomedical portfolio company that combines revenue-generating MedTech products with longer-term biotech opportunities.
Visitors can use this page to review updates on financial results, capital raises, board and management changes, regulatory approvals, reimbursement developments, and strategic transactions involving LFWD.
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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