ReWalk Robotics Ltd. (NASDAQ:RWLK) Q4 2018 Earnings Conference Call Transcript

Feb 08, 2019 • 08:30 am ET

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ReWalk Robotics Ltd. (NASDAQ:RWLK) Q4 2018 Earnings Conference Call Transcript

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Presentation
Operator
Operator

Good day, ladies and gentlemen, and welcome to the ReWalk Robotics Year-End 2018 Earnings Conference Call. At this time, all participants are in a listen-only mode. (Operator Instructions) As a reminder, this conference call is being recorded.

I would now like to introduce your host for today's conference, Ms. Lisa Wilson, Investor Relations for ReWalk Robotics. Ma'am, you may begin.

Executive
Lisa Wilson

Thank you, Daniel. Good morning, everyone, and welcome to ReWalk Robotics fourth quarter 2018 earnings call. This is Lisa Wilson, Investor Relations for ReWalk. With me on today's call are Larry Jasinski, Chief Executive Officer; and Ori Gon, Chief Financial Officer of ReWalk.

This morning, the Company issued a press release detailing financial results for the three months and full year ended December 31, 2018. This press release and a webcast of this call can be accessed through the Investor Relations section of the ReWalk website at rewalk.com.

Before we get started, I would like to remind everyone that any statements made on today's conference call that express a belief, expectation, projection, forecast, anticipation or intent regarding future events and the Company's future performance may be considered forward-looking statements as defined by the Private Securities Litigation Reform Act. These forward-looking statements are based on information available to ReWalk management as of today, and involve risks and uncertainties, including those noted in this morning's press release and ReWalk's filings with the SEC. Such forward-looking statements are not guarantees of future performance. Actual results may differ materially from those projected in the forward-looking statements. ReWalk specifically disclaims any intent or obligation to update these forward-looking statements, except as required by law.

A telephone replay of the call will be available shortly after completion of this call. You'll find the dial-in information in today's press release. The archived webcast will be available for one year on the Company's website at rewalk.com. For the benefit of those who may be listening to the replay or archived webcast, this call was held and recorded on February 8, 2019. Since then, ReWalk may have made announcements related to the topics discussed, so please reference the Company's most recent press releases and SEC filings.

And, with that, I'll turn the call over to ReWalk's CEO, Larry Jasinski.

Executive
Larry Jasinski

Thank you, Lisa. Good morning, everyone, and thank you for joining us. We ended 2018 with revenue of $1.6 million during the fourth quarter and $6.5 million in revenue for the full year.

In Germany, we're a global model for reimbursement coverage for the ReWalk was achieved in 2018, true market creation is starting to occur. In fact, we had our strongest quarter-to-date with $1.24 million in revenue in 15 placed devices. Nine positive insurance decisions and 18 open trials that we expect to convert to sales in the first half of 2019. As of today, we already had placed four units in Europe and additional metals are expected by the end of the first quarter this year, which we believe are likely to convert to sales later in the year.