Lifeward Q1 Revenue Falls to $3.9M as Exoskeleton Sales Jump 11%
Lifeward reported Q1 revenue of $3.9 million, down from $5.0 million year-over-year, with ReWalk exoskeleton sales rising 11% to $1.6 million while gross margin slipped to 34.2%. The company closed a $10 million convertible note financing, acquired Auratech’s Protein Oral Delivery Platform, and ended the quarter with $11.4 million cash.
1. Q1 Financial Results
Lifeward posted Q1 revenue of $3.9 million, down from $5.0 million in Q1 2025, driven by supply chain constraints and shipment timing disruptions. ReWalk personal exoskeleton revenue rose 11% to $1.6 million, while gross margin contracted to 34.2% and operating expenses included a $4.9 million non-cash R&D charge.
2. Auratech Acquisition and Financing
The company completed its acquisition of Auratech, gaining a Protein Oral Delivery Platform and related R&D assets. Lifeward also secured $10 million in convertible note financing, boosting unrestricted cash and cash equivalents to $11.4 million at quarter-end from $2.2 million at year-end 2025.
3. Outlook and Operational Challenges
Management attributes Q1 revenue shortfall to manufacturing transitions and working capital limitations, expecting shipment timing to normalize across Q2 and Q3 and bridge revenue to last year’s levels. Adjusted operating expenses declined 12% to $5.9 million, and cash used in operations fell 33% to $3.7 million, underpinning an improved liquidity position.