Lifeward Ltd.

Good morning and welcome to the first quarter 2026 LifeWord earnings conference call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing star then zero on your telephone keypad. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on your telephone keypad. To withdraw your question, please press star then two. Please note this event is being recorded. I would now like to turn the conference over to Almog Adar, CFO of LifeWord. Please go ahead.

Thank you, Drew, and thanks everyone who has joined us on the call today. My name is Almog Adar. I'm LifeWord's Chief Financial Officer, and with me on today's call is our President and Chief Executive Officer, Mark Grant. Earlier this morning, LifeWord issued a press release detailing the financial results for the first quarter ended March 31st, 2026. I would ask you to review the full text of our forward-looking statement from the press release. We anticipate making projections during this call, and actual results could differ materially due to several factors, including those outlined in our latest filing with the SEC. With that, I will turn the call over to Mark.

Thank you, Almag, and thank you for everybody for joining us today. The first quarter of 2026 marked an important strategic milestone for LifeWord as we successfully completed the acquisition of Oratex. We believe this transaction significantly strengthens LifeWord's position as a diversified biomedical innovation company while reinforcing our focus on neurorehabilitation and our passport profitability. We believe this was a highly strategic and capital-efficient transaction for LifeWord shareholders. Through the equity-based acquisition of Oratec, we gained access to the protein oral delivery platform, a potentially transformative technology across many therapeutic indications, including ORMD 0801 oral insulin, which is expected to commence a Phase II study. Importantly, the clinical program management responsibilities remain with Oramed, utilizing funds previously transferred to Oratec as part of the strategic transactions. That means LifeWord and our shareholders, by owning the protein orally delivered platform outright, effectively receive a meaningful option on the potential success of the promising technology with minimal near-term operational burden. No material increase in operating expenses and limited management bandwidth requirements beyond my own involvement, supporting strategic oversight and development guidance. As many of you know, my background includes extensive experience in diabetes and metabolic disease. and I believe this platform has meaningful long-term potential. At the same time, LifeWord's core focus remains firmly centered on scaling our neurorehabilitation medtech business. The second key takeaway from the quarter is LifeWord is now substantially better positioned on its path to profitability. With the $10 million from our convertible note financing, we have significantly strengthened our balance sheet and improved our operating flexibility. This allows us to stabilize and build upon the fundamental and foundational work we have done over the last several quarters while maintaining our disciplined focus on operational efficiency, market access, and innovation across our neurorehabilitation platform. We expect continued operational stabilization over the next several quarters as our baseline resets following our manufacturing transition initiatives completed over the last year and the consummation of the important transaction this quarter. This gives us improved visibility as we move toward the end of 2026 and into 2027. Turning to commercialization, we continue to make progress expanding distribution in the U.S. and internationally, as well as broadening reimbursement access for REWOC, including through Medicare Advantage insurers such as Aetna, Humana, and UnitedHealthcare. We believe this positions our entire neurorehabilitation portfolio and Rewalk, in particular, for very long-term growth. On the commercial side, Rewalk's personal exoskeleton sales increased 11% year-over-year, reflecting the continued uptrend we are seeing in international sales, reimbursement, and distribution expansion. Total revenue for the quarter was impacted primarily by the altered G-shipment. We experienced temporary timing disruptions associated with working capital constraints late last year that affected sourcing and supply chain execution. Importantly, we have a backlog of secured alterty orders in place now and have visibility to improve shipment execution during the second and third quarters as we ship against those orders. We are also impacted by tariffs and the financial impacts of our manufacturing transition following the closure of our Fremont, California facility and the shift to contract manufacturing in Massachusetts. Finally, we continue to evaluate strategic and accretive acquisition opportunities that complement our core rehabilitation, and biomedical platforms. During the first quarter, we acquired an upper body exoskeleton technology designed to address the substantial unmet need of approximately 4.6 million stroke survivors. This is a great compliment to our rewalk platform. Development work is underway as we work toward commercial launch. Overall, we believe LIPRD is stronger strategically and operationally than it was a year ago. we are building a scalable platform with improving operational leverage and multiple potential drivers for future growth. With that, I'll turn the call back over to Almag.