Microvast Holdings announces departure of chief financial officer
Lifeward Ltd. (NASDAQ:LFWD), a company specializing in orthopedic, prosthetic, and surgical appliances with a market capitalization of $15.2 million, disclosed preliminary financial results for the first quarter ended March 31, 2025. The Israel-based organization reported preliminary revenue of approximately $5.0 million, with operating expenses anticipated to be between $6.5 million and $6.7 million. The company maintains a healthy gross margin of 30.65% and a strong current ratio of 2.08, though InvestingPro analysis indicates the company is quickly burning through its cash reserves. These figures, announced today, remain unaudited and subject to change upon completion of standard quarter-end procedures and financial review. According to InvestingPro data, which offers 12+ additional exclusive insights about Lifeward’s financial health, the company is currently trading at a low revenue multiple relative to peers.
The company’s financial condition and results of operations as of March 31, 2025, are yet to be fully understood, pending the release of its official Quarterly Report on Form 10-Q. The preliminary financial results have not been audited or reviewed by Lifeward’s independent registered public accounting firm, Kost Forer Gabbay & Kasierer, a member of Ernst & Young Global.
In a separate announcement, Lifeward Ltd. also revealed that Charles Remsberg, the Chief Sales Officer, will depart from the company effective May 30, 2025. His departure is classified as a termination without cause according to his Employment Agreement dated August 11, 2023. Remsberg is set to receive severance and additional benefits as outlined in the agreement, details of which were previously filed with the U.S. Securities and Exchange Commission on March 7, 2025.
The information provided in this report is based on a press release statement and has not been filed with the Securities and Exchange Commission for purposes of Section 18 of the Securities Exchange Act of 1934. The details mentioned are not to be incorporated by reference into any future filings under the Securities Act of 1933 or the Exchange Act, except as explicitly stated in such filings.
In other recent news, Lifeward Ltd. reported its fourth-quarter 2024 earnings, revealing a significant revenue shortfall and a wider-than-expected loss. The company posted revenue of $7.5 million, falling short of the anticipated $10.3 million, and an EPS of -$0.38, missing the forecast of -$0.19. Despite these setbacks, Lifeward achieved an 85% increase in full-year revenue to $25.7 million compared to the previous year. Meanwhile, Lifeward received FDA clearance for its latest ReWalk 7 exoskeleton, which marks a notable advancement in assistive technology for individuals with spinal cord injuries. Sales in the United States are expected to begin soon. Analyst firm H.C. Wainwright maintained its Buy rating and a $13 price target for Lifeward, reflecting confidence in the company’s future prospects. The firm highlighted Lifeward’s strategic focus on expanding market reach and improving reimbursement processing times. Additionally, Lifeward’s AlterG product concluded the year with a notable backlog, indicating anticipated growth in the first half of 2025.
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