ReWalk Robotics Q1 2024 revenue surges 340% to $5.3 million, Medicare reimbursement drives growth

Lifeward Ltd.

2024-Q1 EPS reported -$0.73 revenue$5,283,000

Q1 2024 revenue of $5.3 million, up 340% from $1.2 million in Q1 2023.
Medicare payment for ReWalk Personal Exoskeleton established; MACs approve 14 claims since fee schedule.
Net loss widened to $6.3 million ($0.73 per share) from $4.3 million ($0.51 per share) in prior year.
Cash and equivalents of $20.7 million with no debt; full-year 2024 revenue guidance unchanged at $28-$32 million.
Gross margin declined to 26.4% from 46.4%, impacted by AlterG integration and low product volumes.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Lifeward Ltd. reported the three months ended March 31, 2024 results: revenue $5.3 million, net income Net loss was $6.3 million, or $0.73 per share, EPS $0.73 per share. Guidance reaffirmed.

Period: the three months ended March 31, 2024
Revenue: $5.3 million
Net income: Net loss was $6.3 million, or $0.73 per share
EPS: $0.73 per share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

MACs will enable us to further our mission of broader access to innovative exoskeleton technology for appropriate individuals.” First Quarter 2024 Financial Results Revenue was $5.3 million in the first quarter of 2024, compared to $1.2 million during the first quarter of 2023, up $4.1 million, or 340%. Revenue from the sale of products from the former ReWalk

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Source: SEC EDGAR

accession 0001178913-24-001736

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