Q1 2025 Lifeward Ltd Earnings Call Transcript
Key Points
- Lifeward Ltd (LFWD) achieved FDA clearance for the Rewalk 7, their next-generation exoskeleton, which is expected to drive growth in the U.S. market.
- The company reported a significant increase in qualified leads, with over 120 in the U.S. pipeline, up 70% from two quarters ago.
- Lifeward Ltd (LFWD) has successfully expanded its MyoCycle distribution rights, enhancing synergies with its field sales team.
- The company reported a 19% growth in Alter G product sales in the last two quarters, indicating strong international demand.
- Lifeward Ltd (LFWD) achieved a 25% reduction in operating loss in Q1, with expectations for further reductions as cost-saving measures phase in.
- Q1 revenues were down $300,000 year-on-year, attributed to a block of catch-up revenues in 2024.
- The gross margin for Q1 2025 was below expectations due to volume and mix of Rewalk products sold and transitional costs for Alter G products.
- The company experienced temporary supply constraints for Alter G products due to the transition to a contract manufacturer.
- Lifeward Ltd (LFWD) reported a GAAP operating loss of $4.9 million for Q1 2025, compared to $6.5 million in the prior year's quarter.
- The company had to reserve approximately $300,000 for bad debt expense due to early claims that did not meet the clarified Medicare criteria.
Good day and welcome to the Q1 2025 Lifeward Inc earnings conference call. (Operator Instructions). Please note this event is being recorded. I would now like to turn the conference over to Mike Lawless, Chief Financial Officer. Please go ahead.
Good morning and welcome to Lifeward's first quarter of 2025 earnings call. I'm Mike Lawless, Lifeward's Chief Financial Officer, and with me on today's call is Larry Jasinski, our Chief Executive Officer, and Almog Adar, our Vice President of Finance.
Earlier this morning, Lifeward issued a press release detailing financial results for the three months ended March 31, 2025, which, along with this call, discussed certain non-GAAP information. I would ask you to review the text of our forward-looking statements from this morning's press release.
We anticipate making projections during this call, and actual results could differ materially due to several factors, including those outlined in our latest filings with the SEC. A replay will be available
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