ReWalk(US:RWLK)2025-11-14 13:15Revenue Performance - Lifeward reported revenue of $6.2 million in Q3 2025, a slight increase of approximately 1% year-over-year and an 8% increase compared to Q2 2025[5] - Revenue for Q3 2025 was $6,195 million, a slight increase from $6,128 million in Q3 2024, while total revenue for the nine months ended September 30, 2025, was $16,953 million, down from $18,118 million in the same period last year[23] Operating Performance - Non-GAAP operating loss decreased to $3.0 million in Q3 2025, compared to a loss of $4.1 million in Q3 2024, representing a 27% improvement[7] - Gross margin increased to 43.7% in Q3 2025, up from 36.2% in Q3 2024, driven by lower production costs[5] - Operating loss for Q3 2025 was $(3,140) million, which is 50.7% of revenue, compared to $(3,174) million or 51.8% of revenue in Q3 2024[30] Net Loss and Guidance - The net loss for Q3 2025 was $3.2 million, or $0.20 per share, compared to a net loss of $3.1 million, or $0.35 per share, in Q3 2024[8] - Lifeward reaffirmed its full-year 2025 revenue guidance in the range of $24 to $26 million and a projected non-GAAP net loss of $12 to $14 million[11] Cash Flow and Financial Position - Quarterly cash burn improved to $3.8 million, down 16% from $4.5 million in Q3 2024, reflecting operational efficiencies[4] - Cash and cash equivalents at the end of Q3 2025 were $1,956 million, a decrease from $6,746 million at the end of December 2024[25] - Total assets as of September 30, 2025, were $23,168 million, down from $30,487 million at the end of December 2024[25] - The company reported net cash used in operating activities of $(13,271) million for the nine months ended September 30, 2025, compared to $(17,749) million in the same period of 2024[27] Expenses - Total operating expenses were $5.9 million in Q3 2025, compared to $5.4 million in Q3 2024, with adjusted operating expenses decreasing to $5.7 million[6] - Research and development expenses for Q3 2025 were $721 million, down from $998 million in Q3 2024, while sales and marketing expenses decreased to $3,168 million from $4,156 million[23] - GAAP research and development expenses for Q3 2025 were $721,000, representing 11.6% of revenue, compared to $998,000 or 16.3% in Q3 2024[31] - GAAP sales and marketing expenses for Q3 2025 were $3,168,000, accounting for 51.1% of revenue, compared to $4,156,000 or 67.8% in Q3 2024[31] Strategic Developments - The company achieved a record number of ReWalk systems placements for Medicare beneficiaries, marking the highest placements since the fee schedule was established in April 2024[4] - CE mark approval was received for the ReWalk 7 Personal Exoskeleton, enabling commercial sales in Europe, which currently accounts for approximately 40% of the company's exoskeleton sales[4] - The company secured a $3.0 million loan agreement with Oramed Ltd. to support ongoing operations and strategic initiatives[4][10] Stock-Based Compensation and Restructuring - Stock-based compensation expenses for the nine months ended September 30, 2025, were $258,000, representing 1.5% of revenue, compared to $596,000 or 3.3% in the same period of 2024[31] - The company incurred a restructuring cost of $277,000 for the nine months ended September 30, 2025[31]