UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to _________ Commission File Number: 001-36612 ReWalk Robotics Ltd. (Exact name of registrant as specified in charter) Israel Not applicable | --- | --- | --- | |-------- ...

MARLBOROUGH, Mass. and YOKNEAM ILLIT, Israel, Aug. 08, 2024 (GLOBE NEWSWIRE) -- ReWalk Robotics Ltd. (DBA Lifeward™), (Nasdaq: LFWD) ("Lifeward" or the "Company"), a global market leader delivering life-changing solutions to revolutionize what is possible in rehabilitation, recovery, and the pursuit of life's passions in the face of physical limitation or disability, today announced that the Company will release its second quarter 2024 financial results before the markets open on Thursday, August 15, 2024. ...

MARLBOROUGH, Mass. and YOKNEAM ILLIT, Israel, July 02, 2024 (GLOBE NEWSWIRE) -- ReWalk Robotics Ltd. (DBA Lifeward™) (Nasdaq: LFWD) ("Lifeward" or the "Company"), a global market leader delivering life-changing solutions to revolutionize what is possible in rehabilitation, recovery, and the pursuit of life's passions in the face of physical limitation or disability, today announced that Jeff Dykan, current Chairman of the Lifeward Board of Directors, will retire from his role and will not stand for reelecti ...

MARLBOROUGH, Mass. and YOKNEAM ILLIT, Israel, July 02, 2024 (GLOBE NEWSWIRE) -- ReWalk Robotics Ltd. (DBA Lifeward™) (Nasdaq: LFWD) ("Lifeward" or the "Company"), a global market leader delivering life-changing solutions to revolutionize what is possible in rehabilitation, recovery, and the pursuit of life's passions in the face of physical limitation or disability, today announced that Jeff Dykan, current Chairman of the Lifeward Board of Directors, will retire from his role and will not stand for reelecti ...

Financial Data and Key Metrics - Q1 2024 revenue was $5.3 million, a 340% increase compared to Q1 2023 revenue of $1.2 million [3][15] - Revenue from ReWalk systems was $2.2 million in Q1 2024, up $1.3 million from Q1 2023, driven by Medicare approvals [15] - Revenue from AlterG was $2.8 million in Q1 2024, below expectations due to integration and training impacts [44] - GAAP gross profit was $1.4 million (26.4% of revenue) in Q1 2024, compared to $0.6 million (46.4% of revenue) in Q1 2023 [22] - Non-GAAP gross profit was $1.8 million (33.7% of revenue) in Q1 2024, compared to 46.2% in Q1 2023 [51] - GAAP operating loss was $6.5 million in Q1 2024, compared to $4.3 million in Q1 2023 [25] - Non-GAAP operating loss was $5.5 million in Q1 2024, compared to $3.9 million in Q1 2023 [25] - Cash and equivalents at the end of Q1 2024 were $20.7 million, with no debt [54] Business Line Data and Key Metrics - ReWalk systems: 32 active rentals in the pipeline, up 8 from last quarter, with 24 in Germany, 6 in VA hospitals, and 2 with self-pay individuals [21] - AlterG systems: 68 units in backlog at the end of Q1 2024, up 22 units from Q4 2023 [50] - Medicare claims: 14 approved in Q1 2024, with 35 submitted and 21 pending [3] - Other revenue (primarily MyoCycles): $0.3 million in Q1 2024, up $0.1 million from Q1 2023 [16] Market Data and Key Metrics - Medicare beneficiaries: The company plans to deliver 60 to 75 more systems to qualified Medicare patients in 2024 [3] - Germany: 54 ReWalk cases in process at the end of Q1 2024 [50] - U.S.: 37 ReWalk cases in process at the end of Q1 2024, many for Medicare beneficiaries [50] Company Strategy and Industry Competition - The company aims to achieve $28 million to $32 million in sales for 2024, with a focus on Medicare market penetration and AlterG growth [29][41] - A new AlterG anti-gravity model is planned for launch in mid-2024, targeting smaller clinics [31] - The company is working on a seventh-generation ReWalk design, pending FDA clearance [31] - The goal is to reach breakeven operations by 2026, with annual revenue of $50 million to $55 million [58] Management Commentary on Operating Environment and Future Outlook - The company expects quarterly revenue to build through 2024, driven by Medicare contributions and AlterG sales [55] - Management anticipates a reduction in operating loss quarter-over-quarter, driven by revenue growth and organizational efficiency [13][58] - The company is focused on scaling operations to process 100 systems in 2024, 200 in 2025, and 400 in 2026 [57] Other Important Information - The company reserved approximately $700,000 of revenue in Q1 2024 pending Medicare and supplemental insurance claim approvals, affecting gross margin by 8 percentage points [49] - If all prior Medicare claims are approved, an additional $300,000 of revenue could be recognized in future quarters [47] - The company expects to recover a portion of Q1 overages as sales volume ramps up and gross margins improve [26] Q&A Session Summary Question: How much of the 35 Medicare units were recognized in Q1 2024? - Answer: Revenue was recognized for one unit in Q1 2024, with the remaining 34 units to be recognized in future quarters as claims are approved [70][71] Question: Is the process for Medicare reimbursement fully in place? - Answer: The company has made significant progress but continues to educate healthcare providers and streamline the process [63] Question: Can you comment on the flow of interest in Q2 2024? - Answer: The company has seen a significant increase in leads and is working to educate physicians and clinics about Medicare reimbursement [72][73]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to _________ Commission File Number: 001-36612 ReWalk Robotics Ltd. (Exact name of registrant as specified in charter) | Israel | Not applicable | | --- | --- | | (State ...

Revenue Growth and Performance - Q1'24 revenue of $5.3M, up 340% compared to Q1'23 revenue of $1.2M[1][5] - Revenue from ReWalk products increased by $1.3M (90%) to $2.5M, driven by Medicare payment expansion[5] - Total revenues for Q1 2024 were $5.283 million, a significant increase from $1.230 million in Q1 2023[28] - United States revenues accounted for $3.747 million, representing 70.9% of total revenues in Q1 2024[28] - Europe revenues were $1.169 million, contributing 22.1% to total revenues in Q1 2024[28] Medicare Reimbursement and Expansion - Medicare payment for ReWalk personal exoskeletons approved, with 14 claims processed since fee schedule established[1][4] - Medicare reimbursement for exoskeletons finalized, expanding access to ReWalk technology for spinal cord injury patients[3][4] Gross Margin and Profitability - Gross margin declined to 26.4% in Q1'24 from 46.4% in Q1'23, primarily due to low AlterG sales volume[6] - Non-GAAP gross profit for Q1 2024 was $1.782 million, or 33.7% of revenues, compared to $569 thousand, or 46.2% of revenues in Q1 2023[29] Operating and Net Loss - Operating loss increased to $6.5M in Q1'24 from $4.3M in Q1'23, driven by higher operating expenses[7][8] - Net loss widened to $6.3M ($0.73 per share) in Q1'24 from $4.3M ($0.51 per share) in Q1'23[9] - GAAP net loss for Q1 2024 was $(6.276) million, compared to $(4.321) million in Q1 2023[28] - Non-GAAP net loss for Q1 2024 was $(5.299) million, an increase from $(3.867) million in Q1 2023[28] - GAAP operating loss for Q1 2024 was $(6.502) million, or 123.1% of revenues, compared to $(4.321) million, or 351.3% of revenues in Q1 2023[29] Cash and Financial Position - Company maintains $20.7M in unrestricted cash and cash equivalents with no debt as of March 31, 2024[10] - Cash and cash equivalents decreased to $20.744 million as of March 31, 2024, from $28.083 million as of December 31, 2023[24] - Net cash used in operating activities was $(7.673) million in Q1 2024, compared to $(5.233) million in Q1 2023[26] Revenue Guidance and Outlook - 2024 revenue guidance remains at $28M to $32M, with Q2'24 expected to show sequential improvement[11] Research and Development Expenses - GAAP research & development expenses were $1.291 million, or 24.4% of revenues in Q1 2024, compared to $752 thousand, or 61.1% of revenues in Q1 2023[30] AlterG Performance - AlterG revenue was $2.8M, impacted by temporary integration and training of commercial teams[5]

Financial Data and Key Metrics - Revenue for Q4 2023 was $6.9 million, up 216% from $2.2 million in Q4 2022, primarily due to the acquisition of AlterG [8] - Excluding AlterG sales, Q4 2023 revenue was $2.2 million, consistent with Q4 2022 [8] - GAAP operating loss for Q4 2023 was $6.1 million, compared to $5 million in Q4 2022 [12] - Non-GAAP operating loss improved to $3.8 million in Q4 2023 from $4 million in Q4 2022 [12] - Gross profit for Q4 2023 was $2.4 million (35.5% of revenue), up from $0.7 million (30.9% of revenue) in Q4 2022 [61] Business Line Data and Key Metrics - ReWalk Exoskeleton revenue in Q4 2023 was flat compared to Q4 2022, with the same number of units sold [87] - MyoCycle FES training cycle revenue declined slightly, offset by an increase in ReStore unit revenue [87] - AlterG backlog at the end of Q4 2023 was 46 systems, lower than Q3 2023 due to commercial reorganization [9] - The company expects to launch a new AlterG anti-gravity system mid-2024, targeting smaller private practice clinics [97] Market Data and Key Metrics - The company achieved Medicare reimbursement for the ReWalk personal exoskeleton in 2023 and expects Medicare claims to begin processing in April 2024 [4][74] - The US market is a key focus, with plans to expand Medicare coverage and engage private payers and Workers Compensation groups [18] - In Germany, the company expects up to 50% year-over-year growth in the exoskeleton market [102] - The company has 19 distributors in the EU and 22 distributors in the rest of the world [5] Company Strategy and Industry Competition - The company rebranded as Lifeward, integrating ReWalk and AlterG to unify teams and leverage strengths, resulting in $3 million in annual net savings expected in 2024 [56] - The company is shifting its US sales focus to physician referrals to improve scalability and patient qualification [71][108] - Technological advancements include a new AlterG anti-gravity system for smaller clinics and AI integration into exoskeleton prototypes [97][98] - The company aims to achieve profitability by 2026, driven by revenue growth, cost reductions, and operational synergies [72][85] Management Commentary on Operating Environment and Future Outlook - Management is optimistic about Medicare reimbursement finalization, expected to positively impact stock price and revenue growth [13][74] - The company expects 2024 revenue to be between $28 million and $32 million, driven by Medicare claims and new product launches [66][83] - Operating losses are expected to decline sequentially in 2024, with visibility to future operating profit [16][67] - The company is prepared for a reverse stock split if CMS reimbursement rates are not finalized in time to meet NASDAQ compliance [65][92] Other Important Information - The company has 70 ReWalk cases in process as of December 31, 2023, with 49 in Germany and 21 in the US [60] - Cash and cash equivalents at the end of Q4 2023 were $28.1 million, with no debt [91] - The company has submitted 35 claims to Medicare and plans to submit an additional 60-75 claims in 2024 [83][88] Q&A Session Summary Question: CMS Reimbursement Timeline - The company expects CMS reimbursement rules to take effect on April 1, 2024, with final payment rates anticipated soon [74][101] Question: Growth Expectations in Germany and Europe - The company expects strong growth in Germany, with up to 50% year-over-year growth in the exoskeleton market, supported by 19 distributors in the EU [102][117] Question: AlterG Revenue Dynamics and New Product Launch - AlterG revenue is expected to grow sequentially in 2024, with a new product launch targeting smaller clinics mid-year [39][76] - The new AlterG product is designed for smaller private practices, addressing a previously underserved market of approximately 15,000 clinics in the US [25][119] Question: Physician Referral Strategy - The company is shifting to a physician-focused referral model to improve scalability and patient qualification, targeting PM&R doctors initially [71][108][126] Question: Integration Savings Timeline - Integration savings of $3 million are expected to phase in throughout 2024, with full impact realized later in the year [130]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT OR SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______ Commission File Number: 001-36612 ReWalk Robotics Ltd. (Exact name of registrant as specified in charter) | Israel | Not applicable | | --- | --- | | (State ...

[Company Overview & Highlights](index=1&type=section&id=Company%20Overview%20%26%20Highlights) Lifeward (formerly ReWalk Robotics Ltd.) completed commercial and operational integration, rebranded as Lifeward, aiming to elevate rehabilitation care standards through innovative solutions, expecting growth in 2024, especially benefiting from Medicare reimbursement for exoskeletons [Executive Summary & Strategic Vision](index=1&type=section&id=Executive%20Summary%20%26%20Strategic%20Vision) Lifeward completed organizational integration, ready to execute its strategy, and plans to expand ReWalk exoskeleton coverage for spinal cord injury patients by leveraging the new Medicare exoskeleton benefit category - Lifeward has completed organizational integration, preparing to execute its strategy and leverage the newly established Medicare exoskeleton benefit category to expand ReWalk exoskeleton coverage for spinal cord injury patients[3](index=3&type=chunk) - The company has completed the integration of commercial and operational resources of the former ReWalk and AlterG businesses, expecting **$3 million in annual net savings** in 2024[4](index=4&type=chunk) - The company launched its new corporate brand, Lifeward, to reflect its broader mission of elevating care standards in overcoming physical limitations and disabilities[4](index=4&type=chunk) [Key Highlights of Q4 2023 and Early 2024](index=1&type=section&id=Key%20Highlights%20of%20Q4%202023%20and%20Early%202024) Lifeward achieved record annual revenue in 2023, completed commercial and operational integration, and successfully launched its new brand, while CMS finalized the 2024 home health rule to include exoskeletons in Medicare brace benefits and is determining initial reimbursement levels for ReWalk personal exoskeletons 2023 Annual Revenue | Metric | 2023 (Millions USD) | 2022 (Millions USD) | Growth Rate | | :--- | :--- | :--- | :--- | | Annual Revenue | 13.9 | 5.5 | 151% | - The company completed the integration of commercial and operational resources of the former ReWalk and AlterG businesses, expecting **$3 million in annual net savings** in 2024[4](index=4&type=chunk) - The Centers for Medicare & Medicaid Services (CMS) finalized the 2024 home health rule, including exoskeletons in the Medicare brace benefit category, effective January 1, 2024[4](index=4&type=chunk) [Financial Results](index=2&type=section&id=Financial%20Results) Lifeward's financial performance in Q4 2023 showed significant revenue growth, but GAAP gross margin declined, and operating and net losses widened, though non-GAAP adjusted losses improved [Fourth Quarter 2023 Financial Performance](index=2&type=section&id=Fourth%20Quarter%202023%20Financial%20Performance) Lifeward achieved significant revenue growth in Q4 2023, but GAAP gross margin decreased, and operating and net losses expanded, while non-GAAP adjusted operating and net losses improved [Revenue Analysis](index=2&type=section&id=Revenue%20Analysis) Total revenue reached $6.9 million in Q4 2023, a 216% year-over-year increase, primarily driven by $4.7 million contributed by the AlterG business acquired in August 2023 Q4 2023 Revenue | Metric | Q4 2023 (Millions USD) | Q4 2022 (Millions USD) | Change (Millions USD) | Growth Rate | | :--- | :--- | :--- | :--- | :--- | | Total Revenue | 6.9 | 2.2 | 4.7 | 216% | | Original ReWalk Business Revenue | 2.2 | 2.2 | 0 | 0% | | AlterG Business Contribution | 4.7 | - | 4.7 | - | [Gross Margin](index=2&type=section&id=Gross%20Margin) GAAP gross margin for Q4 2023 was 35.5%, an increase from the prior year, while non-GAAP adjusted gross margin was 47.0%, a 5.8 percentage point decrease year-over-year, mainly due to a less favorable product sales mix and material costs as a percentage of revenue in the prior year Q4 2023 Gross Margin | Metric | Q4 2023 | Q4 2022 | Change | | :--- | :--- | :--- | :--- | | GAAP Gross Margin | 35.5% | 30.9% | +4.6 percentage points | | Non-GAAP Adjusted Gross Margin | 47.0% | 52.8% | -5.8 percentage points | [Operating Expenses and Loss](index=2&type=section&id=Operating%20Expenses%20and%20Loss) Total operating expenses in Q4 2023 were $8.6 million, with AlterG contributing $3.2 million, resulting in a GAAP operating loss of $6.1 million, while non-GAAP adjusted operating loss improved by 6% to $3.8 million Q4 2023 Operating Expenses and Loss | Metric | Q4 2023 (Millions USD) | Q4 2022 (Millions USD) | Change (Millions USD) | Change Rate | | :--- | :--- | :--- | :--- | :--- | | Total Operating Expenses | 8.6 | 5.7 | 2.9 | 50.9% | | AlterG Contribution to Operating Expenses | 3.2 | - | - | - | | GAAP Operating Loss | (6.1) | (5.0) | (1.1) | 22% | | Non-GAAP Adjusted Operating Loss | (3.8) | (4.0) | 0.2 | -6% | [Net Loss and EPS](index=2&type=section&id=Net%20Loss%20and%20EPS) GAAP net loss for Q4 2023 was $5.6 million, or $0.13 per share, while non-GAAP adjusted net loss improved to $3.3 million, or $0.05 per share Q4 2023 Net Loss and EPS | Metric | Q4 2023 | Q4 2022 | Change | | :--- | :--- | :--- | :--- | | GAAP Net Loss (Millions USD) | (5.6) | (5.3) | (0.3) | | GAAP EPS | (0.13) | (0.09) | (0.04) | | Non-GAAP Adjusted Net Loss (Millions USD) | (3.3) | (4.3) | 1.0 | | Non-GAAP Adjusted EPS | (0.05) | (0.07) | 0.02 | [Liquidity](index=2&type=section&id=Liquidity) As of December 31, 2023, Lifeward held $28.1 million in unrestricted cash and cash equivalents with no debt, and cash outflow from operating activities was $4.4 million in Q4 Liquidity as of December 31, 2023 | Metric | Amount (Millions USD) | | :--- | :--- | | Unrestricted Cash and Cash Equivalents | 28.1 | | Debt | 0 | | Cash Used in Operating Activities in Q4 | 4.4 | [Financial Guidance](index=2&type=section&id=Financial%20Guidance) Lifeward projects full-year 2024 revenue between $28 million and $32 million, with non-GAAP gross margin expanding to over 40% and non-GAAP operating loss decreasing to low double-digit millions, while Q1 2024 revenue is expected to be $5 million to $5.5 million, excluding Medicare revenue 2024 Financial Guidance | Metric | Full-Year 2024 Guidance | Q1 2024 Guidance | | :--- | :--- | :--- | | Revenue | $28 million to $32 million | $5 million to $5.5 million | | Non-GAAP Gross Margin | Above 40% | - | | Non-GAAP Operating Loss | Low double-digit millions | - | - The company expects Q1 revenue to increase in subsequent quarters, consistent with historical patterns, benefiting from the gradual implementation of Medicare revenue and anticipated mid-year contributions from new AlterG products[11](index=11&type=chunk) - Lifeward does not provide a GAAP reconciliation for non-GAAP financial guidance because the company cannot reasonably determine and without unreasonable effort predict the items included in the reconciliation, such as share-based compensation expense, acquisition-related expenses, and contingent consideration expenses[12](index=12&type=chunk) [Corporate Information](index=3&type=section&id=Corporate%20Information) This section provides details on Lifeward's upcoming Q4 and full-year 2023 earnings conference call, an overview of the company's mission and product portfolio, and important disclaimers regarding forward-looking statements and non-GAAP financial measures [Conference Call Details](index=3&type=section&id=Conference%20Call%20Details) Lifeward management will host a Q4 and full-year 2023 earnings conference call on Tuesday, February 27, 2024, at 8:30 AM ET, providing dial-in numbers for the US, international, Israel, and Germany, along with a webcast link Conference Call Information | Date | Tuesday, February 27, 2024 | | :--- | :--- | | Time | 8:30 AM ET | | US Dial-in | 1-833-316-0561 | | International Dial-in | 1-412-317-0690 | | Access Code | Lifeward Earnings Call | | Webcast | https://edge.media-server.com/mmc/p/3pun37to/ | [About Lifeward](index=3&type=section&id=About%20Lifeward) Lifeward designs, develops, and commercializes life-changing solutions across the continuum of physical rehabilitation and recovery, empowering individuals with physical limitations or disabilities through innovative products, including ReWalk exoskeletons, AlterG anti-gravity systems, ReStore exoskeleton suits, and MyoCycle FES systems - Lifeward designs, develops, and commercializes life-changing solutions across the continuum of physical rehabilitation and recovery, providing proven functional and health benefits in clinical settings, homes, and communities[14](index=14&type=chunk) - Lifeward's product portfolio includes ReWalk exoskeletons, AlterG anti-gravity systems, ReStore exoskeleton suits, and MyoCycle FES systems[14](index=14&type=chunk) - Founded in 2001, Lifeward operates in the United States, Israel, and Germany[15](index=15&type=chunk) [Forward-Looking Statements](index=4&type=section&id=Forward-Looking%20Statements) This press release contains forward-looking statements, including projections of the company's future performance and non-historical facts, which are based on management's current expectations and subject to uncertainties, risks, and changing circumstances that could cause actual results to differ materially - Forward-looking statements may include projections of the company's future performance and may be identified by words such as "anticipate," "assume," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "future," "will," "should," "would," "seek," or similar phrases[17](index=17&type=chunk) - Important factors that could cause the company's actual results to differ materially from forward-looking statements include: the ability to realize the anticipated benefits of the AlterG acquisition, the ability to retain customers and key personnel, relationships with suppliers and distributors, uncertainties of future clinical trials, sufficiency of funding, Nasdaq listing compliance, product market acceptance, third-party payer reimbursement capabilities, limited operating history, clinical research programs, future growth, supply chain, product improvements and development, medical device reporting regulation compliance, regulatory approvals, intellectual property protection, cybersecurity risks, and the use of proceeds from securities offerings[17](index=17&type=chunk) [Non-GAAP Financial Measures Explanation](index=4&type=section&id=Non-GAAP%20Financial%20Measures%20Explanation) The company uses non-GAAP financial measures, including non-GAAP gross margin, operating expenses, operating loss, and net loss, to supplement its GAAP financial statements, believing these metrics help investors understand ongoing business performance, but emphasizes they should not be considered substitutes for GAAP measures and may not be comparable to non-GAAP measures used by other companies - The company believes the use of non-GAAP financial measures, including non-GAAP gross margin, operating expenses, operating loss, and net loss, is helpful to investors because these measures exclude certain significant items that may not be representative of or related to the results of ongoing business operations[18](index=18&type=chunk)[19](index=19&type=chunk) - Non-GAAP financial data are not measures of the company's financial performance under US GAAP and should not be considered as alternatives to operating loss or net loss or any other performance measures derived in accordance with GAAP[19](index=19&type=chunk) - Non-GAAP financial measures may not provide information directly comparable to that provided by other companies in Lifeward's industry, as other companies may calculate non-GAAP financial results differently, particularly with respect to non-recurring, unusual items[19](index=19&type=chunk) [Condensed Consolidated Financial Statements](index=6&type=section&id=Condensed%20Consolidated%20Financial%20Statements) This section presents Lifeward Robotics Ltd. and its subsidiaries' audited condensed consolidated financial statements, including statements of operations, non-GAAP reconciliations, balance sheets, and cash flow statements, along with revenue by geographic region [Statements of Operations](index=6&type=section&id=Statements%20of%20Operations) This section provides Lifeward Robotics Ltd. and its subsidiaries' audited condensed consolidated statements of operations, detailing revenue, cost of sales, gross profit, operating expenses, operating loss, net loss, and basic net loss per share for the three and twelve months ended December 31, 2023, and 2022 Condensed Consolidated Statements of Operations (Excerpt) | Metric (Thousands USD) | Q4 2023 | Q4 2022 | Full-Year 2023 | Full-Year 2022 | | :--- | :--- | :--- | :--- | :--- | | Revenue | 6,884 | 2,179 | 13,854 | 5,511 | | Cost of Sales | 4,441 | 1,506 | 9,401 | 3,606 | | Gross Profit | 2,443 | 673 | 4,453 | 1,905 | | Operating Expenses | 8,580 | 5,678 | 28,065 | 21,007 | | Operating Loss | (6,137) | (5,005) | (23,612) | (19,102) | | Net Loss | (5,639) | (5,313) | (22,133) | (19,569) | | Basic Net Loss Per Share | (0.13) | (0.09) | (0.37) | (0.31) | [Non-GAAP Reconciliations](index=7&type=section&id=Non-GAAP%20Reconciliations) This section provides reconciliations of GAAP net loss, operating loss, gross profit, research and development expenses, sales and marketing expenses, and general and administrative expenses to their corresponding non-GAAP measures, detailing adjustments such as the impact of acquisition accounting on inventory, intangible asset amortization, M&A transaction and integration costs, rebranding, restructuring, contingent consideration income/expense, inventory impairment, and share-based compensation expense Reconciliation of GAAP Net Loss to Non-GAAP Net Loss (Excerpt) | Metric (Thousands USD) | Q4 2023 | Q4 2022 | Full-Year 2023 | Full-Year 2022 | | :--- | :--- | :--- | :--- | :--- | | GAAP Net Loss | (5,639) | (5,313) | (22,133) | (19,569) | | Total Adjustments | 2,343 | 968 | 7,066 | 1,614 | | Non-GAAP Net Loss | (3,296) | (4,345) | (15,067) | (17,955) | | Non-GAAP EPS | (0.05) | (0.07) | (0.25) | (0.29) | Reconciliation of GAAP Operating Loss to Non-GAAP Operating Loss (Excerpt) | Metric (Thousands USD) | Q4 2023 | Q4 2022 | Full-Year 2023 | Full-Year 2022 | | :--- | :--- | :--- | :--- | :--- | | GAAP Operating Loss | (6,137) | (5,005) | (23,612) | (19,102) | | Total Adjustments | 2,343 | 968 | 7,066 | 1,614 | | Non-GAAP Operating Loss | (3,794) | (4,037) | (16,546) | (17,488) | Reconciliation of GAAP Gross Profit to Non-GAAP Gross Profit (Excerpt) | Metric (Thousands USD) | Q4 2023 | Q4 2022 | Full-Year 2023 | Full-Year 2022 | | :--- | :--- | :--- | :--- | :--- | | GAAP Gross Profit | 2,443 | 673 | 4,453 | 1,905 | | Total Adjustments | 783 | 477 | 1,006 | 487 | | Non-GAAP Gross Profit | 3,226 | 1,150 | 6,359 | 2,392 | [Balance Sheets](index=10&type=section&id=Balance%20Sheets) This section provides Lifeward Robotics Ltd. and its subsidiaries' audited condensed consolidated balance sheets, detailing assets, liabilities, and stockholders' equity as of December 31, 2023, and 2022 Condensed Consolidated Balance Sheets (Excerpt) | Metric (Thousands USD) | December 31, 2023 | December 31, 2022 | | :--- | :--- | :--- | | **Assets** | | | | Cash and Cash Equivalents | 28,083 | 67,896 | | Total Current Assets | 39,222 | 72,510 | | Intangible Assets | 12,525 | - | | Goodwill | 7,538 | - | | Total Assets | 63,192 | 74,236 | | **Liabilities and Equity** | | | | Total Current Liabilities | 11,795 | 4,782 | | Contingent Consideration Liability | 3,292 | - | | Stockholders' Equity | 46,510 | 68,165 | | Total Liabilities and Equity | 63,192 | 74,236 | [Statements of Cash Flows](index=11&type=section&id=Statements%20of%20Cash%20Flows) This section provides Lifeward Robotics Ltd. and its subsidiaries' audited condensed consolidated statements of cash flows, detailing cash flows from operating, investing, and financing activities for the twelve months ended December 31, 2023, and 2022 Condensed Consolidated Statements of Cash Flows (Excerpt) | Metric (Thousands USD) | Full-Year 2023 | Full-Year 2022 | | :--- | :--- | :--- | | Net Cash Used in Operating Activities | (20,667) | (17,891) | | Net Cash Used in Investing Activities | (18,149) | (25) | | Net Cash Used in Financing Activities | (992) | (2,500) | | Decrease in Cash, Cash Equivalents, and Restricted Cash | (39,763) | (20,495) | | Cash, Cash Equivalents, and Restricted Cash at End of Period | 28,792 | 68,555 | [Revenue by Geographic Region](index=12&type=section&id=Revenue%20by%20Geographic%20Region) This section details Lifeward Robotics Ltd. and its subsidiaries' revenue by geographic region, including the United States, Europe, Asia Pacific, and Rest of World, for the three and twelve months ended December 31, 2023, and 2022 Revenue by Geographic Region (Thousands USD) | Region | Q4 2023 | Q4 2022 | Full-Year 2023 | Full-Year 2022 | | :--- | :--- | :--- | :--- | :--- | | United States | 3,338 | 1,110 | 7,636 | 2,303 | | Europe | 2,843 | 1,034 | 5,044 | 3,057 | | Asia Pacific | 264 | 2 | 387 | 115 | | Rest of World | 439 | 33 | 787 | 36 | | **Total Revenue** | **6,884** | **2,179** | **13,854** | **5,511** |