ReWalk Robotics Ltd.

Good day and thank you for standing by. Welcome to the Q2 2021 WeWalk Robotics Limited Earnings Conference Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question and answer session and instructions will follow at that time. If anyone should require assistance during the conference, please press star then zero on your touchtone telephone. I would now like to turn the conference over to your host, Mr. Oregon. Please go ahead, sir.

Thank you, Patricia. Good morning and welcome to Rework Robotics' second quarter 2021 earnings call. This is Ori Ghosn, Rework's Chief Financial Officer, and with me on today's call is Larry Jasinski, our Chief Executive Officer. This morning, the company issued a press release detailing financial results for the three and six months ended June 30, 2021. This press release and a webcast of this call can be accessed through the investor relations section of the Rework website at www.rework.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 of Litigation Reform Act. These forward-looking statements are based on information available to rework management as of today and involve risks and uncertainties. including those noted in this morning's press release and Rework's filing 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 statement. Rework 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 will find the dialing information in today's press release. The archived webcast will be available on the company's website. For the benefit of those who may be listening to the replay or archived webcast, this call was held and recorded on August 9, 2021. Since then, Rework may have made announcements related to the topics discussed, so please reference the company's most recent press releases and FEC filings. And with that, I'll turn the call over to Rework CEO Larry Jasinski. Larry?

Thank you, Ori. Good morning, everyone. Rewalk had a very good Q2 and met our key objectives. We see the right trends to grow our business and are optimistic about the direction for the year. We have seen the majority of our accounts returning to normal levels of activity. As a measurable example, after 15 months without being able to schedule a single user training or trial in the VA, we now have 10 in the process of being scheduled in Q3 and Q4. We have a database of 45 potential VA candidates that we will work with in the second half of 2021 and 2022. Q2 sales were 1.436 million, which represents our fourth consecutive quarter of growth and recovery from the pandemic. The patient trainings and present account activity supports continuing growth in the second half of 2022. Our sales mix resulted in a Q2 gross margin of 50.6% and is at 52.1% year-to-date. Our expenses increased by $140,000 to $3.868 million as we increased activity with the market reopening. We started the year identifying the key milestones that will drive our growth and long-term success. We are pleased with the progress occurring with each. and they remain the most important measurements to meeting our goals of providing broad access to our products via coverage policies and expanding the supporting base for their use. The four we outlined were, one, German courts. The federal social court ruling, which will define whether the Rewalk system serves as a direct compensation for disability, has progressed, and final elements are being completed in September. We would expect the ruling to be published in the weeks following that session. A positive ruling would have a significant impact that would broaden the access to exoskeletons. Second, German insurer coverage expansion. Measuring expansion of contracts with German insurers is an important indicator. We have expected this to be limited until the court case was completed, but have had five additional BKK groups join the contract in the last quarter which has added 2 million further covered lives with UR contracts to a total of 25 million Germans. As we also have a contract with the DGUV for work-related injuries, which essentially covers all German workers, overall we have made significant progress to date with our German reimbursement strategy. Third, establishing processes with CMS. Our progress in building pricing, category, and contracts around the successful HCPCS code for exoskeletons issued by CMS is our primary focus in 2021. We are finding it is similar to Germany, where once we have the code established, the process of establishing contracts requires education and detailed planning. We have ongoing activities in selecting the initial users for the application process for supply, have gained guidance on how to proceed from CMS, and are continuing in building our resources for the contracting process. And then fourth, national accountability for broader supply of our stroke and other product lines. While COVID has delayed implementation for much of the year, we now have trial evaluations underway with two national chains in the United States, and have completed training for the three lead sites for NHS in the UK. As the patient flow expands, we will seek to build on their data and clinical experiences as a basis for establishing national contracts for the expansion of the unique soft exosuit design for the stroke community. I'd now like to turn the call over to Ori for a review of the financial details. Ori?