Core Insights - Lifeward Ltd. reported a record quarter for Medicare beneficiary placements, indicating strong commercial execution and operational improvements [3][9] - The company achieved a 16% year-over-year decrease in quarterly cash burn and a 27% decrease in quarterly Non-GAAP operating loss, reflecting ongoing efficiency initiatives [4][6] - Lifeward secured a $3.0 million loan agreement with Oramed Ltd. to support its operations and strategic initiatives [9][10] Financial Performance - Revenue for Q3 2025 was $6.2 million, a slight increase of approximately 1% from $6.1 million in Q3 2024, and an 8% increase from $5.7 million in Q2 2025 [4] - Revenue from traditional products, including ReWalk Personal exoskeletons, rose to $3.1 million, up 24% year-over-year, driven by Medicare-related sales [4] - Gross margin improved to 43.7% in Q3 2025, compared to 36.2% in Q3 2024, primarily due to lower production costs following the closure of the Fremont manufacturing facility [4][5] Operating Expenses and Losses - Total operating expenses in Q3 2025 were $5.9 million, up from $5.4 million in Q3 2024, but adjusted operating expenses decreased to $5.7 million from $6.7 million year-over-year [5] - The operating loss for Q3 2025 was $3.1 million, slightly improved from a loss of $3.2 million in Q3 2024, with adjusted operating loss decreasing to $3.0 million from $4.1 million [6] - 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 [7] Liquidity and Guidance - As of September 30, 2025, Lifeward had $2.0 million in unrestricted cash and cash equivalents, with cash used in operations improving to $3.8 million from $4.5 million in Q3 2024 [8] - The company reaffirmed its full-year 2025 guidance, expecting revenue in the range of $24 to $26 million and a projected non-GAAP net loss between $12 to $14 million [11]

Core Insights - Lifeward Ltd. reported a record number of ReWalk systems placed for Medicare beneficiaries, marking the third consecutive quarter of growth in the U.S. pipeline with over 130 qualified leads [1][3] - The company appointed a new CEO and CFO to drive strategic changes and accelerate growth [1][7] - Lifeward's financial results for Q2 2025 showed a revenue of $5.7 million, a decrease of approximately 15% year-over-year, but an increase of about 14% compared to Q1 2025 [4][10] Financial Performance - Revenue from traditional products, including ReWalk Personal exoskeletons, decreased by 19% year-over-year to $2.5 million, while revenue from AlterG products fell by approximately 11% to $3.2 million [4][5] - Gross margin improved to 43.9% in Q2 2025 from 41.1% in Q2 2024, although the adjusted gross margin decreased to 44.0% from 46.9% due to the absence of one-time Medicare-related revenue [5][30] - Total operating expenses rose to $9.1 million in Q2 2025, primarily due to a $2.8 million goodwill impairment charge, while adjusted operating expenses decreased to $6.0 million [6][9] Losses and Cash Flow - The operating loss for Q2 2025 was $6.6 million, compared to $4.4 million in Q2 2024, with an adjusted operating loss of $3.5 million [9][10] - The net loss was $6.6 million, or $0.58 per share, compared to a net loss of $4.3 million, or $0.50 per share, in the prior year [10][23] - As of June 30, 2025, Lifeward had $5.1 million in unrestricted cash and cash equivalents, with cash used in operations improving to $3.9 million from $5.6 million in Q2 2024 [11][26] Strategic Developments - Lifeward achieved FDA clearance for the ReWalk 7 in April 2025, with over 20 units installed and positive customer feedback [7] - The company expanded its U.S. payer base for the ReWalk Personal Exoskeleton, with a ruling affirming its medical necessity for Medicare beneficiaries [7] - Lifeward transitioned to in-house manufacturing of the ReWalk Personal Exoskeleton, enhancing cost savings and production flexibility [7][8] Future Guidance - Lifeward has reset its full-year 2025 guidance, targeting revenue between $24 million and $26 million and a non-GAAP net loss of $12 million to $14 million [12]