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— Q1 2020 Total Acquirement of $0.8 actor at a bargain akin due to COVID-19 communicable —



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MARLBOROUGH, Mass. BERLIN, Germany and YOKNEAM ILIT, Israel, May 28, 2020 (GLOBE NEWSWIRE) — ReWalk Robotics Ltd. (NASDAQ:RWLK) (“ReWalk” or the “Company”) today appear its banking after-effects for the three months concluded March 31, 2020.



Highlights of and consecutive to the aboriginal division of 2020 include:

“The aboriginal division of 2020 was arduous as we had the COVID-19 communicable affecting our adeptness to meet, alternation and bear our articles to customers. We accept reacted to the new ambiance and accept adapted our spending and banknote accepting to accomplish abiding we accept acceptable banknote to assassinate our plan for the absolute allotment of the year and beyond. We are aflame with the allowance affairs accomplished in Germany, our new artefact curve added in the United States area we see bright synergy with our accepted articles and our CMS appliance progress,” declared Larry Jasinski, Chief Executive Officer of ReWalk.

First Division 2020 Banking Results

Total acquirement was $0.8 actor for the aboriginal division of 2020, compared to $1.6 actor during the above-mentioned year quarter. We had several ReWalk Personal 6.0 accessories that were not delivered due to COVID-19 restrictions.

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Gross allowance was 49% during the aboriginal division of 2020, compared to 59% in the aboriginal division of 2019. The abatement is primarily due to the lower cardinal of units placed during the quarter.

Total operating costs in the aboriginal division of 2020 were $4 million, compared to $4.5 actor in the above-mentioned year period.

Net accident was $3.8 actor for the aboriginal division of 2020, compared to a net accident of $4.0 actor in the aboriginal division of 2019.

Non-GAAP net accident for the aboriginal division of 2020 and 2019 remained collapsed and was $3.6 million. Adaptation of net accident to non-GAAP net accident is included at the end of this columnist release.

Liquidity

As of March 31, 2020, ReWalk had $16.6 actor in banknote on its antithesis area and $5.7 actor in short- appellation debt.

Conference Call

ReWalk administration will host its aboriginal division 2020 appointment alarm as follows:

The archived webcast will be accessible via the afterward URL https://edge.media-server.com/mmc/p/fm2cohrh or through the ‘Investors’ section’ on www.rewalk.com. 

About ReWalk Robotics Ltd.

ReWalk Robotics Ltd. develops, articles and markets wearable automatic exoskeletons for individuals with lower limb disabilities as a aftereffect of analgesic bond abrasion or stroke.  ReWalk’s mission is to fundamentally change the affection of activity for individuals with lower limb affliction through the conception and development of bazaar arch automatic technologies. Founded in 2001, ReWalk has address in the U.S., Israel and Germany. For added advice on the ReWalk systems, amuse visit www.rewalk.com.

ReWalk® is a registered brand of ReWalk Robotics Ltd. in Israel and the United States.

ReStore® is a registered brand of ReWalk Robotics Ltd. in Europe and an accustomed brand in the United States.

Forward-Looking Statements

In accession to absolute information, this columnist absolution contains advanced statements aural the acceptation of the U.S. Private Securities Action Reform Act of 1995, Area 27A of the U.S. Securities Act of 1933, and Area 21E of the U.S. Securities Exchange Act of 1934. Such advanced statements may accommodate projections apropos ReWalk’s approaching achievement and added statements that are not statements of absolute actuality and, in some cases, may be articular by words like “anticipate,” “assume,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “future,” “will,” “should,” “would,” “seek” and agnate agreement or phrases. The advanced statements absolute in this columnist absolution are based on management’s accepted expectations, which are accountable to uncertainty, risks and changes in affairs that are difficult to adumbrate and abounding of which are alfresco of ReWalk’s control. Important factors that could account ReWalk’s absolute after-effects to alter materially from those adumbrated in the advanced statements include, amid others: ReWalk’s management’s conclusion, and its absolute registered accessible accounting firm’s account in its assessment apropos to its circumscribed banking statements for the budgetary year concluded December 31, 2019, that there is a abundant agnosticism as to the Company’s adeptness to abide as a activity concern; the accepted COVID-19 communicable has abnormally afflicted and may abide to affect adversely  business and after-effects of operations; ReWalk’s adeptness to accept acceptable funds to accommodated assertive approaching basal requirements, which could blemish the Company’s efforts to advance and commercialize absolute and new products;  ReWalk’s adeptness to advance acquiescence with the connected advertisement requirements of the Nasdaq Basal Bazaar and the accident that its accustomed shares will be delisted if it cannot do so;  ReWalk’s adeptness to authorize a alleyway to commercialize its articles in China; ReWalk’s adeptness to advance and abound its acceptability and the bazaar accepting of its products; ReWalk’s adeptness to accomplish agreement from third-party payors for its products; ReWalk’s bound operating history and its adeptness to advantage its sales, business and training infrastructure; ReWalk’s expectations as to its analytic analysis affairs and analytic results; ReWalk’s expectations apropos approaching growth, including its adeptness to admission sales in its absolute geographic markets and aggrandize to new markets; ReWalk’s adeptness to admission assertive apparatus of its articles from third-party suppliers and its connected admission to its artefact manufacturers; ReWalk’s adeptness to accord its anchored indebtedness; ReWalk’s adeptness to advance its articles and advance new products; the aftereffect of advancing actor chic activity action apropos to its antecedent accessible offering; ReWalk’s acquiescence with medical accessory advertisement regulations to address adverse contest involving the Company’s products, which could aftereffect in autonomous antidotal accomplishments or administration accomplishments such as binding recalls, and the abeyant appulse of such adverse contest on ReWalk’s adeptness to bazaar and advertise its products; ReWalk’s adeptness to accretion and advance authoritative approvals; ReWalk’s expectations as to the after-effects of, and the Food and Drug Administration’s abeyant authoritative developments with account to its binding 522 postmarket surveillance study; ReWalk’s adeptness to advance able aegis of its bookish acreage and to abstain abuse of the bookish acreage rights of others; the accident of a cybersecurity advance or aperture of the Company’s IT systems decidedly abolition its business operations; the appulse of abundant sales of the Company’s shares by assertive shareholders on the bazaar amount of the Company’s accustomed shares; ReWalk’s adeptness to use finer the gain of its offerings of securities; the accident of abundant concoction consistent from the alternate issuances of ReWalk’s accustomed shares; the appulse of the bazaar amount of the Company’s accustomed shares on the assurance of whether it is a acquiescent adopted advance company; and added factors discussed beneath the branch “Risk Factors” in ReWalk’s anniversary address on Form 10-K for the year concluded December 31, 2019 filed with the SEC and added abstracts after filed with or furnished to the SEC. Any advanced account fabricated in this columnist absolution speaks alone as of the date hereof. Factors or contest that could account ReWalk’s absolute after-effects to alter from the statements absolute herein may appear from time to time, and it is not accessible for ReWalk to adumbrate all of them. Except as appropriate by law, ReWalk undertakes no obligation to about amend any advanced statements, whether as a aftereffect of new information, approaching developments or otherwise.

Non-GAAP Banking Measures

To supplement its circumscribed banking statements, which are able and presented in accordance with U.S. Generally Accepted Accounting Principles (GAAP), ReWalk believes that the use of non-GAAP accounting measures, including non-GAAP net loss, is accessible to its investors. These measures, which the Company refers to as non-GAAP banking measures, are not able in accordance with GAAP.

For the three months concluded March 31, 2020 and 2019, non-GAAP net accident is affected as GAAP net accident excluding (i) non-cash share-based advantage expense, (ii) abrasion and (iii) non-cash banking expenses.

Because of capricious accessible appraisal methodologies, abstract assumptions, and the array of disinterestedness instruments that can appulse a company’s non-cash expenses, ReWalk believes that accouterment non-GAAP banking measures that exclude non-cash share-based advantage expense, abrasion and non-cash banking (income) costs allows for added allusive comparisons amid operating after-effects from aeon to period. Each of the Company’s non-GAAP banking measures is an important apparatus for banking and operational controlling and for the Company’s appraisal of its operating after-effects over altered periods of time. The non-GAAP banking abstracts are not measures of the Company’s banking achievement beneath U.S. GAAP, and should not be advised as alternatives to operating accident or net accident or any added achievement measures acquired in accordance with GAAP. Non-GAAP banking measures may not accommodate advice that is anon commensurable to that provided by added companies in ReWalk’s industry, as added companies in the industry may account non-GAAP banking after-effects differently, decidedly accompanying to non-recurring, abnormal items. In addition, there are limitations in application non-GAAP banking measures because the non-GAAP banking measures are not able in accordance with GAAP, may be altered from non-GAAP banking measures acclimated by added companies and exclude costs that may accept a actual appulse on the Company’s appear banking results. Further, share-based advantage amount has been, and will abide to be for the accountable future, a cogent alternating amount in the Company’s business and an important allotment of the advantage provided to its employees.

The presentation of non-GAAP banking advice is not meant to be advised in abreast or as a acting for the anon commensurable banking measures able in accordance with GAAP. ReWalk urges investors to analysis the adaptation of the Company’s non-GAAP banking measures to the commensurable GAAP banking measures included below, and not to await on any distinct banking admeasurement to appraise the Company’s business.

Investor Contact:Ori GonChief Banking Officer ReWalk Robotics Ltd.T: 972-4-9590123 E: investorrelations@rewalk.com

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Last Updated: May 29th, 2020 by admin
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