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Earnings Call Summary | ReWalk Robotics(LFWD.US) Q1 2024 Earnings Conference

moomoo AI ·  May 15 14:14  · Conference Call

The following is a summary of the ReWalk Robotics Ltd. (LFWD) Q1 2024 Earnings Call Transcript:

Financial Performance:

  • ReWalk reported Q1 2024 sales of $5.3 million, a 340% increase compared to Q1 2023, primarily due to the approval of 14 Medicare claims.

  • This lead to a reduction in operating losses with a goal to reach breakeven by 2026.

  • The projected revenue for the full year is expected to be between $28 million and $32 million.

  • The company had a strong cash position of $20.7 million at the end of the quarter with no outstanding debts.

Business Progress:

  • Pursuing growth strategies, ReWalk aims to process about 100, 200, and 400 systems in 2024, 2025, and 2026 respectively.

  • A dedicated team is being equipped to handle the growing market demand.

  • Two new promising products, a new AlterG anti-gravity model and the seventh ReWalk design generation, are in the pipeline.

  • A new board member has been onboarded for enhanced leadership and market expertise.

  • Streamlined processes have been put in place for Medicare reimbursements, leading to increased leads and interest in the product. The company continues to drive awareness about product coverage.

Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

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