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LFWD Nasdaq· ReWalk Robotics Ltd.
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LFWD Nasdaq· ReWalk Robotics Ltd.
Earnings report Q4 2023

LFWD Reports Strong Revenue Growth in Latest Quarter

Segments of revenue

LFWD reported total revenue of $13.85 million in the latest quarter, representing a significant increase compared to $5.51 million in the same quarter last year. The revenue was primarily generated from three segments: Product, Rental, and Service and Warranty. Product revenue accounted for the majority at $10.68 million, followed by Rental revenue at $1.03 million, and Service and Warranty revenue at $2.14 million.

Strengths

LFWD demonstrated impressive revenue growth in the latest quarter, more than doubling its revenue compared to the same period last year. This growth can be attributed to the strong performance of the Product segment, which saw a substantial increase in sales of Anti-Gravity products, systems products to rehabilitation facilities, and ReWalk Personal Exoskeleton systems to end users. The company's focus on expanding its product offerings and targeting diverse customer segments has paid off, resulting in increased sales and revenue.

Challenges

Despite the overall positive performance, LFWD still faces challenges in managing its operating expenses. The company's operating loss for the quarter was $23.61 million, indicating a significant gap between revenue and expenses. The high operating expenses, particularly in research and development, sales and marketing, and general and administrative areas, have contributed to the company's operating loss. LFWD needs to carefully manage its expenses to improve profitability and achieve sustainable growth.

Noteworthy

LFWD's revenue growth was driven by strong performance in the United States and Europe, which accounted for the majority of the company's revenue. The company also experienced growth in the Asia-Pacific and Rest of the World regions, although to a lesser extent. LFWD's decision to apply the practical expedient for financing components in revenue recognition has allowed for more efficient and timely recognition of revenue.

Summary

LFWD delivered a strong performance in the latest quarter, with a significant increase in revenue compared to the same period last year. The company's focus on expanding its product offerings and targeting diverse customer segments has resulted in robust sales growth. However, LFWD needs to address its high operating expenses to improve profitability. Overall, LFWD's revenue growth demonstrates its ability to capitalize on market opportunities and positions the company for future success.

Source documents

Form 10-K  filed on Feb 27, 2024
53 pages scanned

Reference data

Company financials Q4 revenue 6.9M
Analyst estimates Q4 EPS missed by -54.55%
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