MARLBOROUGH, Mass. and YOKNEAM ILIT, Israel - Lifeward Ltd. (NASDAQ:LFWD), a company specializing in physical rehabilitation and recovery solutions, announced Monday (NASDAQ:MNDY) the appointment of Robert J. Marshall Jr. as a new director and Chairman of the Audit Committee. The appointment, effective November 2, 2024, adds to the board a financial executive with over three decades of experience, including a current role as CFO and Treasurer of Lantheus (NASDAQ:LNTH) Holdings, Inc.
Marshall's career spans significant positions in the medical device industry, including 16 years at Zimmer Biomet Holdings (NYSE:ZBH), Inc., where he held various senior leadership roles. His appointment is part of Lifeward's ongoing efforts to strengthen its board's governance capabilities and strategic oversight.
Joe Turk, Chairman of the Board of Directors at Lifeward, expressed confidence in Marshall's ability to contribute valuable financial insights to the company's mission of advancing rehabilitation technologies for individuals with physical and neurological disabilities.
Lifeward, founded in 2001, has a portfolio of innovative products such as the ReWalk Exoskeleton, AlterG Anti-Gravity System, MyoCycle FES System, and the ReStore Exo-Suit. The company operates in the United States, Israel, and Germany, focusing on creating life-changing solutions for clinical settings, homes, and communities.
The press release also includes forward-looking statements regarding Lifeward's future performance and regulatory interactions. These statements are based on management's current expectations and are subject to risks, uncertainties, and changes in circumstances, many of which are beyond the company's control.
The information in this article is based on a press release statement from Lifeward Ltd.
In other recent news, Lifeward Ltd. has announced a series of significant developments. The company reported Q2 earnings, matching revenue expectations with $6.7 million and posting a smaller-than-anticipated net loss per share of $0.50. Following these results, H.C. Wainwright maintained a Buy rating on Lifeward and raised the price target to $13.00.
Moreover, Lifeward has decided to sell AlterG products directly in Germany through its sales team, a move that is expected to enhance the company's revenue and profit margins in the region. The company has also announced changes to its board, with Jeff Dykan retiring as the Chairman and Joseph Turk being appointed as the new chairperson.
In addition, Lifeward confirmed its revenue guidance for 2024, anticipating a range between $28 million and $32 million. H.C. Wainwright projects Lifeward's total revenues for the year to be around $30.8 million. These are recent developments that highlight the company's ongoing business activities and financial performance.
InvestingPro Insights
Lifeward Ltd.'s recent appointment of Robert J. Marshall Jr. to its board comes at a critical time for the company, as revealed by InvestingPro data. Despite a challenging market position, with the stock price at just 25.27% of its 52-week high, Lifeward shows promising signs of growth. The company's revenue growth is particularly impressive, with a 313.3% increase over the last twelve months as of Q2 2024, and a staggering 401.65% quarterly growth in Q2 2024.
These growth figures align with an InvestingPro Tip indicating that analysts anticipate sales growth in the current year. This positive outlook on revenue expansion could be a key factor in the company's strategy to improve its financial position and market performance.
However, Lifeward faces significant challenges. The company is not currently profitable, with an operating income margin of -95.24% over the last twelve months. This is reflected in another InvestingPro Tip, which notes that analysts do not anticipate the company will be profitable this year.
For investors considering Lifeward, it's worth noting that the stock is trading at a low revenue valuation multiple, according to an InvestingPro Tip. This could present an opportunity for value investors, especially considering the company's strong revenue growth.
InvestingPro offers 14 additional tips for Lifeward, providing a more comprehensive analysis for those interested in deeper insights into the company's financial health and market position.
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