Q1 2026 Lifeward Ltd Earnings Call Transcript
Key Points
- Lifeward Ltd (LFWD) successfully completed the acquisition of Auratech, strengthening its position in biomedical innovation.
- The acquisition provides access to the Protein Oral Delivery Platform, potentially transformative for various therapeutic indications.
- Lifeward Ltd (LFWD) secured $10 million from convertible note financing, significantly strengthening its balance sheet.
- ReWalk personal exoskeleton sales increased by 11% year-over-year, indicating growth in international sales and reimbursement.
- The company is expanding distribution and reimbursement access for its neuro-rehabilitation portfolio, including through major insurers like Aetna and Humana.
- Total revenue for the first quarter decreased to $3.9 million from $5 million in the previous year, primarily due to supply chain constraints.
- Gross margin declined to 34.2% from 42.2% in the prior year, affected by lower manufacturing absorption and higher expenses.
- Operating expenses increased to $11.7 million, driven by a one-time non-cash R&D expense related to the Auratech acquisition.
- The company faced temporary timing disruptions in shipments due to working capital constraints and manufacturing transitions.
- GAAP operating loss increased to $10.3 million, primarily due to one-time expenses related to the Auratech transaction.
Good morning and welcome to the first quarter 2026 Lifeword Earnings Conference Call. (Operator Instructions) This event is being recorded. I would now like to turn the conference over to Almog Adar, CFO of Lifeword. Please go ahead.
Thank you, Drew, and thanks to everyone who has joined us on the call today. My name is Almog Adar. I'm Lifeword's Chief Financial Officer, and with me on today's call is our President and Chief Executive Officer, Mark Grant.
Earlier this morning, Lifeword issued a press release detailing the financial results for the first quarter ended March 31, 2026. I would ask you to review the full text of our forward-looking statements from the 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 filing with the SEC. With that, I will turn the call over to. Mark.
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