0001178913-24-003606 | 10-Q | XBRL Viewer

SHAREHOLDERS' EQUITY

9 Months Ended

Sep. 30, 2024

NOTE 8: SHAREHOLDERS’ EQUITY

Reverse share split:

At the Company’s 2023 annual general meeting, the Company’s shareholders approved (i) a reverse share split within a range of 1:2 to 1:12, to be effective at the ratio and on a date to be determined by the Board of Directors, and (ii) amendments to the Company’s Articles of Association authorizing an increase in the Company’s authorized share capital (and corresponding authorized number of ordinary shares, proportionally adjusting such number for the reverse share split) so that the maximum number of authorized ordinary shares would be 120 million. In accordance with the shareholder approval, in early March 2024 the Board of Directors of the Company approved a one-for-seven reverse share split of the Company’s ordinary shares, reducing the number of the Company’s issued and outstanding ordinary shares from approximately 60.1 million pre-split shares to approximately 8.6 million post-split shares. The Company’s ordinary shares began trading on a split-adjusted basis on March 15, 2024. Additionally, effective at the same time, the total authorized number of ordinary shares of the Company was adjusted to 25 million post-split shares, the par value per share of the ordinary shares changed to NIS 1.75 and the authorized share capital of the Company changed from NIS 30,000,000 to NIS 43,750,000. All share and per share data included in these condensed consolidated financial statements give retroactive effect to the reverse share split for all periods presented.

Upon the effectiveness of the reverse share split, every seven shares were automatically combined and converted into one ordinary share. Appropriate adjustments were also made to all outstanding derivative securities of the Company, including all outstanding equity awards and warrants.

No fractional shares were issued in connection with the reverse share split. Instead, all fractional shares (including shares underlying outstanding equity awards and warrants) were rounded down to the nearest whole number.

Share option plans:

As of September 30, 2024, no ordinary shares were reserved, as the Company’s 2014 Incentive Compensation Plan (the “2014 Plan”) was terminated on August 19, 2024, and a new plan has not yet been approved as a replacement. As of December 31, 2023, the Company had reserved 145,560 ordinary shares for issuance to the Company’s and its affiliates’ respective employees, directors, officers, and consultants pursuant to equity awards granted under the 2014 Plan.

Options to purchase ordinary shares generally vest over four years, with certain options to non-employee directors vesting quarterly over one year. Under the 2014 Plan, any option that was forfeited or canceled before expiration became available for future grants. However, as the 2014 Plan was terminated on August 19, 2024, no further options will be granted under this plan.

There were no options granted during the nine months that ended September 30, 2024, and 2023.

The fair value of RSUs granted is determined based on the price of the Company's ordinary shares on the date of grant. A summary of employee share options activity during the nine months ended September 30, 2024, is as follows:

	Number		Weighted average exercise price		Weighted average remaining contractual life (years)		Aggregate intrinsic value (in thousands)
Options outstanding as of December 31, 2023		4,723	$	259.73		4.39	$	-
Granted		-		-		-		-
Exercised		-		-		-		-
Forfeited		-		-		-		-
Options outstanding as of September 30, 2024		4,723	$	259.73		3.62	$	-

Options exercisable as of September 30, 2024		4,723	$	259.73		3.62	$	-

The aggregate intrinsic value in the table above represents the total intrinsic value that would have been received by the option holders had all option holders that hold options with positive intrinsic value exercised their options on the last date of the exercise period. No options were exercised during the nine months ended September 30, 2024 and 2023.

A summary of employees and non-employees RSUs activity during the nine months ended September 30, 2024 is as follows:

	Number of shares underlying outstanding RSUs			Weighted- average grant date fair value
Unvested RSUs as of December 31, 2023		538,885		$	6.07
Granted		14,740			4.80
Vested		(218,493	)		6.56
Forfeited		(3,413	)		6.86
Unvested RSUs as of September 30, 2024		331,719		$	5.68

The weighted average grant date fair value of RSUs granted during the nine months ended September 30, 2024, and 2023 was $4.80 and $4.69, respectively.

As of September 30, 2024, there were $1.7 million of total unrecognized compensation costs related to non-vested share-based compensation arrangements granted under the Company's 2014 Plan. This cost is expected to be recognized over a period of approximately 2.3 years.

The number of options and RSUs outstanding as of September 30, 2024 is set forth below, with options separated by range of exercise price.

			Weighted average remaining contractual life (years) (1)		Options outstanding and exercisable as of September 30, 2024		Weighted average remaining contractual life (years) (1)

Range of exercise price	Options and RSUs outstanding as of September 30, 2024


RSUs only		331,719		-		-		-
$37.6		1,774		4.49		1,774		4.49
$178.5 - $236.3		1,845		3.59		1,845		3.59
$350 - $367.5		887		2.65		887		2.65
$1,277.5 - $3,634.8		217		0.63		217		0.63
		336,442		3.62		4,723		3.62

(1)

Calculation of weighted average remaining contractual term does not include the RSUs that were granted, which have an indefinite contractual term.

Share-based awards to non-employee consultants:

As of September 30, 2024, there are no outstanding options or RSUs held by non-employee consultants.

Treasury shares:

On June 2, 2022, the Company’s Board of Directors approved a share repurchase program to repurchase up to $8.0 million of its Ordinary Shares, par value NIS

0.25 per share. On July 21, 2022, the Company received approval from an Israeli court for the share repurchase program. The program was scheduled to expire on the earlier of January 20, 2023, or reaching $8.0 million of repurchases. On December 22, 2022, the Company’s Board of Directors approved an extension of the repurchase program, with such extension to be in the aggregate amount of up to $5.8 million. The extension was approved by an Israeli court on February 9, 2023, and it expired on August 9, 2023.

As of September 30, 2024, pursuant to the Company’s share repurchase program, the Company had repurchased a total of 574,658 of its outstanding ordinary shares at a total cost of $3.5 million.

Warrants to purchase ordinary shares:

The following table summarizes information about warrants outstanding and exercisable that were classified as equity as of September 30, 2024:

Issuance date	Warrants outstanding		Exercise price per warrant		Warrants outstanding and exercisable		Contractual term
	(number)				(number)
December 31, 2015 (1)		681	$	52.50		681	See footnote (1)
December 28, 2016 (2)		272	$	52.50		272	See footnote (1)
April 5, 2019 (3)		58,350	$	35.98		58,350	October 7, 2024
June 12, 2019 (4)		59,523	$	42.00		59,523	December 12, 2024
February 10, 2020 (5)		4,054	$	8.75		4,054	February 10, 2025
February 10, 2020 (6)		15,120	$	10.94		15,120	February 10, 2025
July 6, 2020 (7)		64,099	$	12.32		64,099	January 2, 2026
July 6, 2020 (8)		42,326	$	15.95		42,326	January 2, 2026
December 8, 2020 (9)		83,821	$	9.38		83,821	June 8, 2026
December 8, 2020 (10)		15,543	$	12.55		15,543	June 8, 2026
February 26, 2021 (11)		780,095	$	25.20		780,095	August 26, 2026
February 26, 2021 (12)		93,612	$	32.05		93,612	August 26, 2026
September 29, 2021 (13)		1,143,821	$	14.00		1,143,821	March 29, 2027
September 29, 2021 (14)		137,257	$	17.81		137,257	September 27, 2026
		2,498,574				2,498,574

(1)

Represents warrants for ordinary shares issuable upon an exercise price of $52.50 per share, which were granted on December 31, 2015 to Kreos Capital V (Expert) Fund Limited (“Kreos”) in connection with a loan made by Kreos to the Company and are currently exercisable (in whole or in part) until the earlier of (i) December 30, 2025 or (ii) immediately prior to the consummation of a merger, consolidation, or reorganization of the Company with or into, or the sale or license of all or substantially all the assets or shares of the Company to, any other entity or person, other than a wholly owned subsidiary of the Company, excluding any transaction in which the Company’s shareholders prior to the transaction will hold more than 50% of the voting and economic rights of the surviving entity after the transaction. None of these warrants had been exercised as of September 30, 2024.

(2)

Represents common warrants that were issued as part of the $8.0 million drawdown under the Loan Agreement which occurred on December 28, 2016. See footnote 1 for exercisability terms.

(3)

Represents warrants that were issued to certain institutional purchasers in a private placement in the Company’s registered direct offering of ordinary shares in April 2019.

(4)

Represents warrants that were issued to certain institutional investors in a warrant exercise agreement in June 2019.

(5)

Represents warrants that were issued to certain institutional purchasers in a private placement in the Company’s best efforts offering of ordinary shares in February 2020. As of September 30, 2024, 534,300 warrants were exercised for a total consideration of $4,675,125.

During the nine months ended September 30, 2024, no warrants were exercised.

(6)

Represents warrants that were issued to the placement agent as compensation for its role in the Company’s February 2020 best efforts offering. As of September 30, 2024, 32,880 warrants were exercised for a total consideration of $359,625.

During the nine months ended September 30, 2024, no warrants were exercised.

(7)

Represents warrants that were issued to certain institutional purchasers in a private placement in our registered direct offering of ordinary shares in July 2020. As of September 30, 2024, 288,634 warrants were exercised for a total consideration of $3,556,976.

During the nine months that ended September 30, 2024, no warrants were exercised.

(8)

Represents warrants that were issued to the placement agent as compensation for his role in the Company’s July 2020 registered direct offering.

(9)

Represents warrants that were issued to certain institutional purchasers in a private placement in our private placement offering of ordinary shares in December 2020. As of September 30, 2024, 514,010 warrants were exercised for a total consideration of $4,821,416.

During the nine months that ended September 30, 2024, no warrants were exercised.

(10)

Represents warrants that were issued to the placement agent as compensation for its role in the Company’s December 2020 private placement. As of September 30, 2024, 32,283 warrants were exercised for a total consideration of $405,003.

During the nine months that ended September 30, 2024, no warrants were exercised.

(11)

Represents warrants that were issued to certain institutional purchasers in a private placement in our private placement offering of ordinary shares in February 2021.

(12)

Represents warrants that were issued to the placement agent as compensation for its role in the Company’s February 2021 private placement.

(13)

Represents warrants that were issued to certain institutional purchasers in a private placement in our registered direct offering of ordinary shares in September 2021.

(14)

Represents warrants that were issued to the placement agent as compensation for its role in the Company’s September 2021 registered direct offering.

Share-based compensation expense for employees and non-employees:

The Company recognized non-cash share-based compensation expenses for both employees and non-employees in the condensed consolidated statements of operations as follows (in thousands):

	Nine Months Ended September 30,
	2024		2023
Cost of revenues	$	12	$	5
Research and development, net		130		112
Sales and marketing		309		270
General and administrative		596		568
Total	$	1,047	$	955

- Definition

The entire disclosure for equity.

+ References

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+ Details

BUSINESS COMBINATION (Tables)

9 Months Ended

Sep. 30, 2024

Business Combinations [Abstract]

Schedule of total consideration

The total consideration transferred is as follows (in thousands):
Cash	$	18,493
Earnout payments	$	3,607
Total consideration	$	22,100

Schedule of preliminary fair value of assets acquired and liabilities

Cash and cash equivalent	$	478
Restricted cash		51
Accounts receivable		1,773
Inventory		3,330
Prepaid expenses and other current assets		470
Right of use asset		1,151
Property and equipment, net		827
Other non-current assets		30
Goodwill		7,538
Intangible assets		14,133
Accounts payable		(2,082	)
Accrued compensation		(766	)
Other accrued liabilities		(1,059	)
Deferred revenue		(2,088	)
Warranty Obligations		(535	)
Leases Liability		(1,151	)
Total purchase consideration	$	22,100

Schedule of intangible assets acquired

	Estimated Fair Value		Estimated Useful Life (Years)
	Estimated Fair Value		Estimated Useful Life (Years)
Trademark	$	795		3
Technology		6,161		4
Customer relationship - Warranty		201		2
Customer relationship - Rental		2,102		4
Customer relationship - Distribution		4,578		5
Backlog		296		1

FINANCIAL INCOME, NET (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
FINANCIAL INCOME, NET (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Other Income and Expenses [Abstract]
Foreign currency transactions and other	$ 38	$ 17	$ 1	$ 39
Interest income	107	394	591	1,024
Bank commissions	(26)	0	(97)	(16)
Financial income, net	$ 119	$ 411	$ 495	$ 1,047

CONDENSED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Unaudited) - USD ($)
$ in Thousands

Ordinary Shares

Additional Paid-in Capital

Treasury Shares

Accumulated deficit

Total

Balance at Dec. 31, 2022

$ 4,489

$ 279,857

$ (2,431)

$ (213,750)

$ 68,165

Balance, shares at Dec. 31, 2022

^[1]

8,584,313

Treasury shares at cost

$ (78)

(772)

(850)

Treasury shares at cost, Shares

^[1]

(155,629)

Share-based compensation to employees and non-employees

$ 0

955

Issuance of ordinary shares upon vesting of RSUs by employees and non-employees

$ 70

(70)

Issuance of ordinary shares upon vesting of RSUs by employees and non-employees, Shares

^[1]

146,230

Net loss

$ 0

(16,494)

Balance at Sep. 30, 2023

$ 4,481

280,742

(3,203)

(230,244)

51,776

Balance, shares at Sep. 30, 2023

^[1]

8,574,914

Balance at Jun. 30, 2023

$ 4,435

280,455

(3,203)

(222,713)

58,974

Balance, shares at Jun. 30, 2023

^[1]

8,478,003

Share-based compensation to employees and non-employees

$ 0

333

Issuance of ordinary shares upon vesting of RSUs by employees and non-employees

$ 46

(46)

Issuance of ordinary shares upon vesting of RSUs by employees and non-employees, Shares

^[1]

96,911

Net loss

$ 0

(7,531)

Balance at Sep. 30, 2023

$ 4,481

280,742

(3,203)

(230,244)

51,776

Balance, shares at Sep. 30, 2023

^[1]

8,574,914

Balance at Dec. 31, 2023

$ 4,487

281,109

(3,203)

(235,883)

46,510

Balance, shares at Dec. 31, 2023

^[1]

8,587,140

Share-based compensation to employees and non-employees

$ 0

1,047

Issuance of ordinary shares upon vesting of RSUs by employees and non-employees

$ 102

(102)

Issuance of ordinary shares upon vesting of RSUs by employees and non-employees, Shares

^[1]

218,493

Net loss

$ 0

(13,664)

Balance at Sep. 30, 2024

$ 4,589

282,054

(3,203)

(249,547)

33,893

Balance, shares at Sep. 30, 2024

^[1]

8,805,633

Balance at Jun. 30, 2024

$ 4,508

281,845

(3,203)

(246,463)

36,687

Balance, shares at Jun. 30, 2024

^[1]

8,630,902

Share-based compensation to employees and non-employees

$ 0

290

Issuance of ordinary shares upon vesting of RSUs by employees and non-employees

$ 81

(81)

Issuance of ordinary shares upon vesting of RSUs by employees and non-employees, Shares

^[1]

174,731

Net loss

$ 0

(3,084)

Balance at Sep. 30, 2024

$ 4,589

$ 282,054

$ (3,203)

$ (249,547)

$ 33,893

Balance, shares at Sep. 30, 2024

^[1]

8,805,633

[1]	Reflects our one-for-seven reverse share split that became effective on March 15, 2024. See Note 8a to the condensed consolidated financial statements

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

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+ Details

- Definition

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

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+ Details

SIGNIFICANT ACCOUNTING POLICIES (Policies)

9 Months Ended

Sep. 30, 2024

Accounting Policies [Abstract]

Business Combinations

The Company accounts for business combinations in accordance with ASC 805, “Business Combinations”. For business combinations accounted for under the acquisition method, ASC 805 requires recognition of assets acquired, liabilities assumed, and any non-controlling interest at the acquisition date, measured at their fair values as of that date. The Company determines the recognition of intangible assets based on the following criteria: (i) the intangible asset arises from contractual or other rights; or (ii) the intangible asset is separable or divisible from the acquired entity and capable of being sold, transferred, licensed, returned or exchanged.

The excess of the fair value of the purchase price over the fair values of the identifiable assets and liabilities is recorded as goodwill. Determining the fair value of the identifiable assets and liabilities requires management to use significant judgment and estimates including the forecasted revenue and revenues growth rates, discount rates, customer contract renewal rates and customer attrition rates. The process of estimating the fair values requires significant estimates, especially with respect to intangible assets. Management’s determination of fair value of assets acquired and liabilities assumed at the acquisition date is based on the best information available in the circumstances and incorporates management’s own assumptions and involves a significant degree of judgment.

Acquisition-related costs include legal fees, consulting and success fees, and other non-recurring integration related costs. Acquisition-related costs are expensed as incurred.

Goodwill and Other Intangibles

For business combinations, the purchase prices are allocated to the tangible assets and intangible assets acquired and liabilities assumed based on their estimated fair values on the acquisition dates, with the remaining unallocated purchase prices recorded as goodwill.

The Company has no indefinite-lived intangible assets other than goodwill. Acquired identifiable finite-lived intangible assets include identifiable acquired technology, customer relationships, trademarks and backlog and are amortized on a straight-line basis over the estimated useful lives of the assets. The Company routinely reviews the remaining estimated useful lives of finite-lived intangible assets.

Goodwill is not amortized and is tested for impairment at least annually.

The Company operates as one reporting unit and the fair value of the reporting unit is estimated using quoted market prices of the Company’s stock in active markets. The Company tests goodwill for impairment annually in the fourth quarter and whenever events or changes in circumstances indicate the carrying amount of goodwill may not be recoverable.

When testing goodwill for impairment, the Company may first perform a qualitative assessment. If the Company determines it is not more likely than not the reporting unit’s fair value is less than its carrying value, then no further analysis is necessary. If the Company determines that it is more likely than not that the fair value of its reporting unit is less than its carrying amount, then the quantitative impairment test will be performed. The Company may elect to bypass the qualitative assessment and proceed directly to performing a quantitative analysis. Under the quantitative impairment test, if the carrying amount of the Company’s reporting unit exceeds its fair value, the Company recognizes an impairment of goodwill for the amount of this excess.

The Company determined no impairment existed for goodwill for the three and nine months ended September 30, 2024.

The Company evaluates the recoverability of long-lived assets, including property and equipment and intangible assets subject to amortization for possible impairment whenever events or circumstances indicate that the carrying amount of such assets may not be fully recoverable. Such events and changes may include significant changes in performance relative to expected operating results, significant changes in asset use, significant negative industry or economic trends, and changes in the Company’s business strategy. Recoverability of these assets is measured by a comparison of the carrying amounts to the future undiscounted cash flows the assets are expected to generate. If such review indicates that the carrying amount of long-lived assets is not recoverable, the carrying amount of such assets is reduced to fair value. There were no impairment charges to long-lived assets during the periods presented.

Fair Value Measurements

Cash and cash equivalents, restricted cash, prepaid expenses and other assets, trade payables and accrued expenses and other liabilities, are stated at their carrying value which approximates their fair value due to the short time to the expected receipt or payment.

The following tables present information about the Company’s financial assets and liabilities that are measured in fair value on a recurring basis as of September 30, 2024 and December 31, 2023 (in thousands):

		Fair value measurements as of
Description	Fair Value Hierarchy	September 30, 2024		December 31, 2023
Financial assets:

Money market funds included in cash and cash equivalent	Level 1	$	2,665	$	2,550
Treasury bills included in cash and cash equivalent	Level 1		1,313		2,525

Total Assets Measured at Fair Value		$	3,978	$	5,075

Financial Liabilities:
Earnout	Level 3	$	792	$	3,292

Total liabilities measured at fair value		$	792	$	3,292

The Company classifies cash equivalents within Level 1, because the Company uses quoted market prices or alternative pricing sources and models utilizing market observable inputs to determine their fair values.

The estimated fair value of the earnout is determined using Level 3 inputs. Inherent in a Monte Carlo simulation analysis are assumptions related to projected revenues, expected term, volatility, annual revenue yield and interest rate. The Company estimates the volatility of its common share based on historical volatility of select peer companies. The interest rate is based on the U.S. Technology B bond yield.

The following table summarizes the earnout liability activity as of September 30, 2024 (in thousands):

	Earnout
Balance December 31, 2023	$	3,292
Change in fair value		(2,500	)
Balance September 30, 2024	$	792

Revenue Recognition

The Company generates revenues from sales of products. The Company sells its products directly to end customers and through distributors. The Company sells its products to clinics and rehabilitation centers, professional and college sports teams, private individuals (who finance the purchases by themselves, through fundraising or reimbursement coverage from insurance companies), and distributors.

Disaggregation of Revenues (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Product	$	4,800	$	3,632	$	13,667	$	5,563
Rental		1,008		303		2,776		685
Service and warranty		320		468		1,675		722
Total Revenues	$	6,128	$	4,403	$	18,118	$	6,970

Product revenue

Revenue from Products sold to rehabilitation facilities and end users is recognized at a point in time once the customer has obtained the legal title to the items purchased.

For ReWalk and ReStore systems sold to rehabilitation facilities, the Company provides an immaterial level of training and considers the elements in the arrangement to be a single performance obligation. Therefore, the Company recognizes revenue for the system and training only after delivery in accordance with the agreement's delivery terms to the customer and after the training has been completed.

For sales of ReWalk systems to end users, the Company does not provide training to the end user as this training is provided separately by the rehabilitation center that the end user chooses to use. Similarly, for sales of ReWalk systems to third party distributors, the Company does not provide training to the distributor because the distributor would previously have completed the ReWalk Training program. Therefore, in both cases the Company recognizes revenue upon delivery.

The Company generally does not grant a right of return for its products. In the rare circumstances when the Company provides a right of return for its products, the Company records reductions to revenue for expected future product returns based on the Company’s historical experience and estimates.

The Company offered five products: (1) ReWalk Personal, (2) ReWalk Rehabilitation, (3) ReStore, (4) MyoCycle and (5) AlterG Anti-Gravity system.

ReWalk Personal and ReWalk Rehabilitation are SCI Products, which are currently designed for everyday use by paraplegic individuals at home and in their communities. SCI Products are custom fitted for each user, as well as for use by paraplegic patients in the clinical rehabilitation environment, where they provide individuals access to valuable exercise and therapy. ReWalk Rehabilitation is a ReWalk Personal product sold with multiple sizes of our adjustable parts to allow different users the ability to train within a clinic.

With the recent establishment of a Medicare reimbursement pathway for the ReWalk product, the Company includes variable consideration in the form of implicit price concessions if, in the Company’s judgment, it is probable that a significant future reversal of cumulative revenue under the contract will not occur. The Company reassesses variable consideration at each reporting period and, if necessary, these estimates are adjusted to reflect the anticipated amounts to be collected when those facts and circumstances become known.

The AlterG Anti-Gravity systems are used in physical and neurological rehabilitation and athletic training, both domestically and internationally. This transformative technology uses patented, NASA-derived DAP technology to reduce the effects of gravity and allow people to move with finely calibrated support and reduced pain.

The ReStore is a powered, lightweight soft exo-suit intended for use in the rehabilitation of individuals with lower limb disability due to stroke in the clinical rehabilitation environment.

The Company also sells the MyoCycle, which uses Functional Electrical Stimulation (“FES”) technology, in the United States for use at home or in clinic.

Rental revenue

Rental revenue for the AlterG Anti-Gravity systems is accounted for under ASC Topic 842, Leases. The Company rents its products to customers for a fixed monthly fee over the rental term, which typically ranges from 2 to 3 years. Rental revenues are recorded as earned on a monthly basis.

The Company also offers the SCI Products in a rent-to-purchase model in which the Company recognizes revenue ratably according to the agreed rental monthly fee for a limited period prior to selling its products.

Service and warranties

The Company services its products after expiration of the initial warranty. Service revenue, consisting of time and materials to perform the repairs, is recorded as services are rendered, which corresponds with the period in which the related expenses are incurred.

Warranties are classified as either an assurance type or a service type warranty. A warranty is considered an assurance type warranty if it provides the customer with assurance that the product will function as intended for a limited period of time. An assurance type warranty is not accounted for as a separate performance obligation under the revenue model.

In recent years, SCI Products have included a five-year warranty. The first two years are considered as an assurance type warranty and the additional period is considered an extended service arrangement, which is a service type warranty. A service type warranty is either sold with a unit or separately for a unit for which the warranty has expired. A service type warranty is accounted as a separate performance obligation and revenue is recognized ratably over the life of the warranty. With the recent establishment of a Medicare reimbursement pathway, the Company will offer its SCI Products to qualified Medicare beneficiaries with a two-year assurance type warranty only.

The ReStore device is sold with a two-year warranty which is considered as assurance type warranty.

The Distributed Product is sold with an assurance type warranty ranging from between one year to ten years, depending on the specific product and part.

For AlterG Anti-Gravity Products, the Company offers customers extended warranty contracts that extend or enhance the technical support, parts, and labor coverage offered as part of the base warranty included with the Anti-Gravity system products. Extended warranty revenue is recognized ratably over the extended warranty coverage period. The Company offers a one-year assurance type warranty to customers in the U.S. and two years assurance type warranty for spare parts only to its international distributors. For these products, the Company determines standalone selling price based on the price at which the performance obligation is sold separately.

Contract balances (in thousands):

	September 30,		December 31,
	2024		2023
Trade receivable, net of credit losses (1)	$	5,843	$	3,120
Deferred revenues (1) (2)	$	2,659	$	3,010

(1)

Balance presented net of unrecognized revenues that were not yet collected.

(2)

During the nine months ended September 30, 2024, $1.6 million of the December 31, 2023 deferred revenues balance was recognized as revenues.

Deferred revenue is composed primarily of unearned revenue related to service type warranty obligations, multi-year services contracts, as well as other advances and payments which the Company received from customers prior to satisfying the performance obligation, for which revenue has not yet been recognized.

The Company’s unearned performance obligations as of September 30, 2024 and the estimated revenue expected to be recognized in the future related to the service type warranty amounts to $2.7 million, which will be fulfilled over one to five years.

Concentrations of Credit Risks

Concentrations of Credit Risks:

The below table reflects the concentration of credit risk for the Company’s current customers as of September 30, 2024, to which substantial sales were made:

	September 30,			December 31,
	2024			2023
Customer A		42	%		-

The allowance for credit losses is based on the Company’s assessment of the collectability of accounts. The Company regularly assessed collectability based on a combination of factors, including an assessment of the current customer’s aging balance, the nature and size of the customer, the financial condition of the customer, and future expected economic conditions. Trade receivables deemed uncollectable are charged against the allowance for credit losses when identified. As of September 30, 2024, and December 31, 2023, trade receivables are presented net of allowance for credit losses in the amount of $193 thousand and $328 thousand, respectively.

Warranty provision

For assurance-type warranty, the Company records a provision for the estimated cost to repair or replace products under warranty at the time of sale. Factors that affect the Company’s warranty reserve include the number of units sold, historical and anticipated rates of warranty repairs and the cost per repair.

	US Dollars in thousands
Balance at December 31, 2023	$	348
Provision		606
Usage		(530	)
Balance at September 30, 2024	$	424

Basic and diluted net loss per ordinary share:

Basic and diluted net loss per share was the same for each period presented as the inclusion of all potential shares of ordinary shares and warrants outstanding would have been anti-dilutive.

As of September 30, 2024 and 2023, the total number of ordinary shares related to the outstanding warrants and share option plans aggregated to 2,503,297 and 2,780,512, respectively, was excluded from the calculations of diluted loss per ordinary share since it would have an anti-dilutive effect.

New Accounting Pronouncements

Recent Accounting Pronouncements Not Yet Adopted

	i.	In December 2023, the Financial Accounting Standards Board issued Accounting Standards Update (“ASU”) 2023-09, “Income Taxes - Improvements to Income Tax Disclosures” requiring enhancements and further transparency to certain income tax disclosures, most notably the tax rate reconciliation and income taxes paid. This ASU is effective for fiscal years beginning after December 15, 2024 on a prospective basis and retrospective application is permitted. The Company is currently evaluating the impact of the adoption of this standard.
	ii.	In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which requires public entities to disclose information about their reportable segments’ significant expenses and other segment items on an interim and annual basis. Public entities with a single reportable segment are required to apply the disclosure requirements in ASU 2023-07, as well as all existing segment disclosures and reconciliation requirements in ASC 280, “Segment Reporting” on an interim and annual basis. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023, and for interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact of adopting ASU 2023-07.

GEOGRAPHIC INFORMATION AND MAJOR CUSTOMER AND PRODUCT DATA (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Revenue, Major Customer [Line Items]
Total revenues	$ 6,128	$ 4,403	$ 18,118	$ 6,970
United States [Member]
Revenue, Major Customer [Line Items]
Total revenues	3,458	2,497	11,054	4,298
Europe [Member]
Revenue, Major Customer [Line Items]
Total revenues	2,419	1,466	5,896	2,201
Asia-Pacific [Member]
Revenue, Major Customer [Line Items]
Total revenues	150	94	544	123
Rest of the world [Member]
Revenue, Major Customer [Line Items]
Total revenues	$ 101	$ 346	$ 624	$ 348

- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

+ References

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+ Details

SIGNIFICANT ACCOUNTING POLICIES (Details 3) - USD ($)
$ in Thousands

Sep. 30, 2024

Dec. 31, 2023

Accounting Policies [Abstract]

Trade receivable, net of credit losses

^[1]

$ 5,843

$ 3,120

Deferred revenues

^[1],[2]

$ 2,659

$ 3,010

[1]	Balance presented net of unrecognized revenues that were not yet collected.
[2]	During the nine months ended September 30, 2024, $1.6 million of the December 31, 2023 deferred revenues balance was recognized as revenues.

SUBSEQUENT EVENTS	9 Months Ended
SUBSEQUENT EVENTS	Sep. 30, 2024
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 11: SUBSEQUENT EVENTS On November 4, 2024, the Company announced plans to streamline its U.S. operations by closing two facilities, following the integration of LCAI. The Company will focus its operations in Massachusetts, Israel, and Germany. Key functions located at the affected facilities will be integrated into the operations of the Marlborough, Massachusetts facility, and manufacturing of the AlterG Anti-Gravity Systems will be assumed by Cirtronics Corporation, a nationally recognized contract manufacturer specializing in the manufacture of precision medical devices and instrumentation.

BUSINESS COMBINATION (Details 2) $ in Thousands	9 Months Ended
BUSINESS COMBINATION (Details 2) $ in Thousands	Sep. 30, 2024 USD ($)
Finite-Lived Intangible Assets [Line Items]
Estimated Fair Value	$ 14,133
Trademarks [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated Fair Value	$ 795
Estimated Useful Life (Years)	3 years
Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated Fair Value	$ 6,161
Estimated Useful Life (Years)	4 years
Customer Relationship Warranty [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated Fair Value	$ 201
Estimated Useful Life (Years)	2 years
Customer Relationship Rental [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated Fair Value	$ 2,102
Estimated Useful Life (Years)	4 years
Customer Relationship - Distribution [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated Fair Value	$ 4,578
Estimated Useful Life (Years)	5 years
Backlog [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated Fair Value	$ 296
Estimated Useful Life (Years)	1 year

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

COMMITMENTS AND CONTINGENT LIABILITIES

9 Months Ended

Sep. 30, 2024

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENT LIABILITIES

NOTE 7: COMMITMENTS AND CONTINGENT LIABILITIES

Purchase commitments:

The Company has contractual obligations to purchase goods from its contract manufacturer as well as raw materials from different vendors. Purchase obligations do not include contracts that may be canceled without penalty. As of September 30, 2024, non-cancelable outstanding obligations amounted to approximately $5.9 million.

Operating lease commitment:

(i)

The Company operates from leased facilities in Israel, the United States and Germany. These leases expire in 2025. A portion of the Company’s facilities leases is generally subject to annual changes in the Consumer Price Index (the “CPI”). The changes to the CPI are treated as variable lease payments and recognized in the period in which the obligation for those payments was incurred.

(ii)

LL and LG lease cars for their employees under cancelable operating lease agreements expiring at various dates between 2024 and 2026. A subset of the Company’s car leases is considered variable. The variable lease payments for such car leases are based on actual mileage incurred at the stated contractual rate. LL and LG have an option to be released from these agreements, which may result in penalties in a maximum amount of approximately $28 thousand as of September 30, 2024.

The Company’s future lease payments for its facilities and cars, which are presented as current maturities of operating leases and non-current operating leases liabilities on the Company’s condensed consolidated balance sheets as of September 30, 2024 are as follows (in thousands):

2024	$	342
2025		670
2026		12
Total lease payments		1,024
Less: imputed interest		(43	)
Present value of future lease payments		981
Less: current maturities of operating leases		936
Non-current operating leases	$	45
Weighted-average remaining lease term (in years)		0.92
Weighted-average discount rate		9.12	%

Lease expense under the Company’s operating leases was $321 thousand and $269 thousand for the three months ended September 30, 2024 and 2023 respectively. For the nine months ended September 30, 2024 and 2023 the lease expense was $974 thousand and $657 thousand, respectively.

Royalties

The Company’s research and development efforts are financed, in part, through funding from the Israel Innovation Authority (“IIA”). Since the Company’s inception through September 30, 2024, the Company received funding from the IIA in the total amount of $2.8 million. Out of the $2.8 million in funding from the IIA, a total amount of $1.6 million were royalty-bearing grants, $400 thousand was received in consideration of 209 convertible preferred A shares, which converted after the Company’s initial public offering in September 2014 into ordinary shares in a conversion ratio of 1 to 1, while $806 thousand was received without future obligation. The Company is obligated to pay royalties to the IIA, amounting to 3% of the sales of the products and other related revenues generated from such projects, up to 100% of the grants received. The royalty payment obligations also bear interest at the LIBOR rate. The obligation to pay these royalties is contingent on actual sales of the applicable products and in the absence of such sales, no payment is required.

As of September 30, 2024, the Company paid royalties to the IIA in the total amount of $114 thousand.

For the three and nine months ended September 30, 2024, the royalties expenses were $2 thousand. There were no royalty expenses for the three and nine months ended September 30, 2023.

As of September 30, 2024, the contingent liability to the IIA amounted to $1.6 million. The Israeli Research and Development Law provides that know-how developed under an approved research and development program may not be transferred to third parties without the approval of the IIA. Such approval is not required for the sale or export of any products resulting from such research or development. The IIA, under special circumstances, may approve the transfer of IIA-funded know-how outside Israel, in the following cases:

(a) the grant recipient pays to the IIA a portion of the sale price paid in consideration for such IIA-funded know-how or in consideration for the sale of the grant recipient itself, as the case may be, which portion will not exceed six times the amount of the grants received plus interest (or three times the amount of the grant received plus interest, in the event that the recipient of the know-how has committed to retain the R&D activities of the grant recipient in Israel after the transfer);

(b) the grant recipient receives know-how from a third party in exchange for its IIA-funded know-how; (c) such transfer of IIA-funded know-how arises in connection with certain types of cooperation in research and development activities; or (d) If such transfer of know-how arises in connection with a liquidation by reason of insolvency or receivership of the grant recipient.

In accordance with the License Agreement with Harvard, the Company is required to pay royalties on net sales. Refer to note 10 in our 2023 Form 10-K for details regarding the License Agreement.

LCAI earns royalties under a license agreement with a third party and is recognized as earned. Royalty payments for the three and nine months ended September 30, 2024, were $0 and $55 thousand, respectively. Royalty payments for the limited consolidation period ended September 30, 2023 were $31 thousand following the acquisition of AlterG in August 2023.

Liens:

As part of the Company’s other long-term assets and restricted cash, an amount of $361 thousand has been pledged as security in respect of a guarantee granted to a third party. Such deposit cannot be pledged to others or withdrawn without the consent of such third party.

Legal Claims:

Occasionally, the Company is involved in various claims such as product liability claims, lawsuits, regulatory examinations, investigations, and other legal matters arising, for the most part, in the ordinary course of business. The outcome of any pending or threatened litigation and other legal matters is inherently uncertain, and it is possible that resolution of any such matters could result in losses material to the Company’s consolidated results of operations, liquidity, or financial condition. Except as otherwise disclosed herein, the Company is not currently party to any material litigation.

SHAREHOLDERS' EQUITY (Details Textual)		9 Months Ended		12 Months Ended
SHAREHOLDERS' EQUITY (Details Textual)	Mar. 15, 2024 shares	Sep. 30, 2024 USD ($) $ / shares shares	Sep. 30, 2023 $ / shares	Dec. 31, 2015 $ / shares	Sep. 30, 2024 ₪ / shares	Sep. 30, 2024 USD ($) shares	Dec. 31, 2023 ₪ / shares shares	Dec. 22, 2022 USD ($)	Jul. 21, 2022 USD ($)	Jun. 02, 2022 ₪ / shares	Jun. 02, 2022 USD ($)	Dec. 28, 2016 USD ($)
Shareholders' Equity
Reverse share split, description		a reverse share split within a range of 1:2 to 1:12, to be effective at the ratio
Maximum number of authorized ordinary shares reverse share split		120,000,000
Issued and outstanding ordinary shares of reverse pre-split shares	60,100,000
Issued and outstanding ordinary shares of reverse post-split shares	8,600,000
Authorized number ordinary shares of reverse post-split shares	25,000,000
Number of share-based outstanding						4,723	4,723
Per share value of stock repurchase authorized \| ₪ / shares					₪ 1.75		₪ 1.75
Treasury Stock, Common, Shares						574,658	574,658
Minimum [Member]
Shareholders' Equity
Authorized number ordinary shares of reverse post-split shares	30,000,000
Maximum [Member]
Shareholders' Equity
Authorized number ordinary shares of reverse post-split shares	43,750,000
Certain institutional purchasers [Member] \| Offering of ordinary shares in February 2020 [Member]
Shareholders' Equity
Number of warrants issued						534,300
Proceeds from warrants \| $		$ 4,675,125
Certain institutional purchasers [Member] \| Registered direct offering of ordinary shares in July 2020 [Member]
Shareholders' Equity
Number of warrants issued						288,634
Proceeds from warrants \| $		3,556,976
Certain institutional purchasers [Member] \| Offering of ordinary shares in December 2020 [Member]
Shareholders' Equity
Number of warrants issued						514,010
Proceeds from warrants \| $		4,821,416
Placement agent [Member] \| February 2020 best efforts offering [Member]
Shareholders' Equity
Number of warrants issued						32,880
Proceeds from warrants \| $		359,625
Placement agent [Member] \| December 2020 private placement [Member]
Shareholders' Equity
Number of warrants issued						32,283
Proceeds from warrants \| $		$ 405,003
Kreos Capital V [Member]
Shareholders' Equity
Warrants grant date				Dec. 31, 2015
Warrants exercisable, description.		currently exercisable (in whole or in part) until the earlier of (i) December 30, 2025 or (ii) immediately prior to the consummation of a merger, consolidation, or reorganization of the Company with or into, or the sale or license of all or substantially all the assets or shares of the Company to, any other entity or person, other than a wholly owned subsidiary of the Company, excluding any transaction in which the Company’s shareholders prior to the transaction will hold more than 50% of the voting and economic rights of the surviving entity after the transaction. None of these warrants had been exercised as of September 30, 2024.
Kreos Capital [Member]
Shareholders' Equity
Exercise price per share \| $ / shares				$ 52.5
Drawdown amount under loan agreement \| $												$ 8,000,000
Employee Stock Option [Member]
Shareholders' Equity
Award vesting period, description		Options to purchase ordinary shares generally vest over four years, with certain options to non-employee directors vesting quarterly over one year.
Shares reserved for future issuance (in shares)						0	145,560
Unrecognized cost of shares \| $						$ 1,700,000
Expected term of shares		2 years 3 months 18 days
Restricted Stock Units (RSUs) [Member]
Shareholders' Equity
Weighted average grant date fair value, options (in USD per share) \| $ / shares		$ 4.8	$ 4.69
Restricted Stock Units (RSUs) [Member] \| Nonemployee [Member]
Shareholders' Equity
Number of share-based outstanding						0
Share repurchase program [Member]
Shareholders' Equity
Authorized value of stock repurchased \| $								$ 5,800,000	$ 8,000,000		$ 8,000,000
Per share value of stock repurchase authorized \| ₪ / shares										₪ 0.25
Treasury Stock, Common, Shares						574,658
Total cost \| $		$ 3,500,000

GENERAL (Details Textual) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
GENERAL (Details Textual) - USD ($) $ in Thousands	Aug. 08, 2023	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Business Acquisition [Line Items]
Net loss		$ (3,084)	$ (7,531)	$ (13,664)	$ (16,494)
Accumulated deficit		(249,547)		(249,547)		$ (235,883)
Cash flow from operations				(17,749)	$ (16,183)
Cash and cash equivalents		$ 10,653		$ 10,653		$ 28,083
Alterg Inc [Member]
Business Acquisition [Line Items]
Aggregate purchase price in cash	$ 19,000

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

- Definition

Amount of accumulated undistributed earnings (deficit).

+ References + Details

SHAREHOLDERS' EQUITY (Tables)

9 Months Ended

Sep. 30, 2024

Share-based Payment Arrangement [Abstract]

Schedule of employee options activity

	Number		Weighted average exercise price		Weighted average remaining contractual life (years)		Aggregate intrinsic value (in thousands)
Options outstanding as of December 31, 2023		4,723	$	259.73		4.39	$	-
Granted		-		-		-		-
Exercised		-		-		-		-
Forfeited		-		-		-		-
Options outstanding as of September 30, 2024		4,723	$	259.73		3.62	$	-

Options exercisable as of September 30, 2024		4,723	$	259.73		3.62	$	-

Schedule of employee RSUs activity

	Number of shares underlying outstanding RSUs			Weighted- average grant date fair value
Unvested RSUs as of December 31, 2023		538,885		$	6.07
Granted		14,740			4.80
Vested		(218,493	)		6.56
Forfeited		(3,413	)		6.86
Unvested RSUs as of September 30, 2024		331,719		$	5.68

Schedule of options and RSUs outstanding

			Weighted average remaining contractual life (years) (1)		Options outstanding and exercisable as of September 30, 2024		Weighted average remaining contractual life (years) (1)

Range of exercise price	Options and RSUs outstanding as of September 30, 2024


RSUs only		331,719		-		-		-
$37.6		1,774		4.49		1,774		4.49
$178.5 - $236.3		1,845		3.59		1,845		3.59
$350 - $367.5		887		2.65		887		2.65
$1,277.5 - $3,634.8		217		0.63		217		0.63
		336,442		3.62		4,723		3.62

Schedule of warrants outstanding and exercisable

Issuance date	Warrants outstanding		Exercise price per warrant		Warrants outstanding and exercisable		Contractual term
	(number)				(number)
December 31, 2015 (1)		681	$	52.50		681	See footnote (1)
December 28, 2016 (2)		272	$	52.50		272	See footnote (1)
April 5, 2019 (3)		58,350	$	35.98		58,350	October 7, 2024
June 12, 2019 (4)		59,523	$	42.00		59,523	December 12, 2024
February 10, 2020 (5)		4,054	$	8.75		4,054	February 10, 2025
February 10, 2020 (6)		15,120	$	10.94		15,120	February 10, 2025
July 6, 2020 (7)		64,099	$	12.32		64,099	January 2, 2026
July 6, 2020 (8)		42,326	$	15.95		42,326	January 2, 2026
December 8, 2020 (9)		83,821	$	9.38		83,821	June 8, 2026
December 8, 2020 (10)		15,543	$	12.55		15,543	June 8, 2026
February 26, 2021 (11)		780,095	$	25.20		780,095	August 26, 2026
February 26, 2021 (12)		93,612	$	32.05		93,612	August 26, 2026
September 29, 2021 (13)		1,143,821	$	14.00		1,143,821	March 29, 2027
September 29, 2021 (14)		137,257	$	17.81		137,257	September 27, 2026
		2,498,574				2,498,574

(1)

(2)

Represents common warrants that were issued as part of the $8.0 million drawdown under the Loan Agreement which occurred on December 28, 2016. See footnote 1 for exercisability terms.

(3)

Represents warrants that were issued to certain institutional purchasers in a private placement in the Company’s registered direct offering of ordinary shares in April 2019.

(4)

Represents warrants that were issued to certain institutional investors in a warrant exercise agreement in June 2019.

(5)

During the nine months ended September 30, 2024, no warrants were exercised.

(6)

During the nine months ended September 30, 2024, no warrants were exercised.

(7)

During the nine months that ended September 30, 2024, no warrants were exercised.

(8)

Represents warrants that were issued to the placement agent as compensation for his role in the Company’s July 2020 registered direct offering.

(9)

During the nine months that ended September 30, 2024, no warrants were exercised.

(10)

During the nine months that ended September 30, 2024, no warrants were exercised.

(11)

Represents warrants that were issued to certain institutional purchasers in a private placement in our private placement offering of ordinary shares in February 2021.

(12)

Represents warrants that were issued to the placement agent as compensation for its role in the Company’s February 2021 private placement.

(13)

Represents warrants that were issued to certain institutional purchasers in a private placement in our registered direct offering of ordinary shares in September 2021.

(14)

Represents warrants that were issued to the placement agent as compensation for its role in the Company’s September 2021 registered direct offering.

Schedule of non-cash share-based compensation expense

	Nine Months Ended September 30,
	2024		2023
Cost of revenues	$	12	$	5
Research and development, net		130		112
Sales and marketing		309		270
General and administrative		596		568
Total	$	1,047	$	955

BASIS OF PRESANTATION AND SUMMARY OF ESTIMATES	9 Months Ended
BASIS OF PRESANTATION AND SUMMARY OF ESTIMATES	Sep. 30, 2024
Basis Of Presantation And Summary Of Estimates [Abstract]
BASIS OF PRESANTATION AND SUMMARY OF ESTIMATES	NOTE 2: BASIS OF PRESANTATION AND SUMMARY OF ESTIMATES Basis of Presentation and Consolidation The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles. Accordingly, they do not include all the information and footnotes required by generally accepted accounting principles in the United States for complete financial statements. In management’s opinion, the accompanying financial statements reflect all adjustments of a normal recurring nature that are necessary for a fair presentation of the results for the interim periods presented. The Company’s interim period results do not necessarily indicate the results that may be expected for any other interim period or for the full fiscal year. These unaudited interim condensed consolidated financial statements and accompanying notes should be read in conjunction with the 2023 consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for its fiscal year ended December 31, 2023 (the “2023 Form 10-K”). There have been no changes in the significant accounting policies from those that were disclosed in the consolidated financial statements for the fiscal year ended December 31, 2023, included in the 2023 Form 10-K, unless otherwise stated. Use of Estimates The preparation of the unaudited interim condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates, judgments, and assumptions. The Company’s management believes that the estimates, judgments, and assumptions used are reasonable based upon information available at the time they are made. These estimates, judgments, and assumptions can affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the financial statements, and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. On an ongoing basis, the Company’s management evaluates estimates, including those related to inventories, assets acquired and liabilities assumed in business combinations, revenue recognition, deferred revenue, fair values of share-based awards, contingent liabilities, provision for warranty and allowance for credit losses. Such estimates are based on historical experience and on various other assumptions that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities.

GOODWILL AND OTHER INTANGIBLE ASSETS, NET (Details 1) $ in Thousands	Sep. 30, 2024 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Fiscal 2024 (period remaining)	$ 842
Fiscal 2025	3,307
Fiscal 2026	3,143
Fiscal 2027	2,172
Fiscal 2028	556
Total	$ 10,020

SIGNIFICANT ACCOUNTING POLICIES (Details 4)	9 Months Ended	12 Months Ended
SIGNIFICANT ACCOUNTING POLICIES (Details 4)	Sep. 30, 2024	Dec. 31, 2023
Trade Receivables [Member] \| Credit Concentration Risk [Member] \| Customer A [Member]
Concentration Risk [Line Items]
Concentration of credit risk	42.00%	0.00%

BUSINESS COMBINATION (Details Textual) $ in Thousands	Aug. 08, 2023 USD ($)
Business Acquisition [Line Items]
Earnout payments	$ 3,600
Alterg Inc [Member]
Business Acquisition [Line Items]
Aggregate purchase price in cash	19,000
Amount of additional cash earnouts	$ 4,000
Description of Earnout payments	The Company will pay an amount of cash equal to 65% of the amount, if any, by which LCAI revenue attributable to the first 12 months period exceeds revenue target ("first earnout payment"), and an amount in cash equal to 65% of the amount, if any, by which LCAI revenue attributable to the following 12 months period exceeds the revenue from the first 12 month period ("second earnout payment").
Purchase price	$ 22,100

FINANCIAL INCOME, NET (Tables)

9 Months Ended

Sep. 30, 2024

Other Income and Expenses [Abstract]

Schedule of financial income, net

	Three Months Ended September 30,					Nine Months Ended September 30,
	2024			2023		2024			2023
Foreign currency transactions and other	$	38		$	17	$	1		$	39
Interest income		107			394		591			1,024
Bank commissions		(26	)		-		(97	)		(16	)
	$	119		$	411	$	495		$	1,047

BUSINESS COMBINATION

9 Months Ended

Sep. 30, 2024

Business Combinations [Abstract]

BUSINESS COMBINATION

NOTE 5: BUSINESS COMBINATION

On August 11, 2023, pursuant to an Agreement and Plan of Merger among LI, AlterG, Inc., Merger Sub, and Shareholder Representative Services LLC, LI, August 8, 2023, the Company acquired AlterG, Inc.and AlterG, Inc.became a wholly owned subsidiary of the Company. With the rebranding of the Company, AlterG, Inc. was renamed as LCAI. LCAI develops, manufactures, and markets anti-gravity systems for use in physical and neurological rehabilitation and athletic training, both in the United States and internationally. The aggregate purchase price was a total of approximately $19 million in cash, subject to working capital and other customary purchase price adjustments. Additional cash earnouts (initially estimated to be approximately $4.0 million in the aggregate) may be paid based upon a percentage of LCAI’s year-over-year future revenue growth over the next two years subject to working capital and other customary purchase price adjustments.

The total consideration transferred is as follows (in thousands):
Cash	$	18,493
Earnout payments	$	3,607
Total consideration	$	22,100

Earnout payments

The Company will pay an amount of cash equal to 65% of the amount, if any, by which LCAI revenue attributable to the first 12 months period exceeds revenue target ("first earnout payment"), and an amount in cash equal to 65% of the amount, if any, by which LCAI revenue attributable to the following 12 months period exceeds the revenue from the first 12 month period ("second earnout payment"). However, the company did not meet the revenue target for the first year of the earnout, and as a result, no payment will be made for the first year. At the date of acquisition, management estimated fair value of the earnout payment based on the actual up to date performance of the acquired entity and the probability of the earn out payment occurrence to be at approximately $3.6 million. The earn-out was accounted for as a liability and will be remeasured at each reporting period through consolidated statement of operations.

The Company has accounted for the LCAI acquisition as a business combination. The Company has preliminarily allocated the purchase price of approximately $22.1 million fair values, and the excess of the purchase price over the aggregate fair values is recorded as goodwill.

The following table summarizes the preliminary fair value of assets acquired and liabilities assumed as of the acquisition date (in thousands):

Cash and cash equivalent	$	478
Restricted cash		51
Accounts receivable		1,773
Inventory		3,330
Prepaid expenses and other current assets		470
Right of use asset		1,151
Property and equipment, net		827
Other non-current assets		30
Goodwill		7,538
Intangible assets		14,133
Accounts payable		(2,082	)
Accrued compensation		(766	)
Other accrued liabilities		(1,059	)
Deferred revenue		(2,088	)
Warranty Obligations		(535	)
Leases Liability		(1,151	)
Total purchase consideration	$	22,100

The following table presents the details of the intangible assets acquired at the date of LCAI acquisition (in thousands):

	Estimated Fair Value		Estimated Useful Life (Years)
	Estimated Fair Value		Estimated Useful Life (Years)
Trademark	$	795		3
Technology		6,161		4
Customer relationship - Warranty		201		2
Customer relationship - Rental		2,102		4
Customer relationship - Distribution		4,578		5
Backlog		296		1

Under the purchase price allocation, the Company allocates the purchase price to tangible and identified intangible assets acquired and liabilities assumed based on the estimates of their fair values. The fair values for the intangible assets acquired were primarily based on significant inputs that are not observable in the market and thus represent a Level 3 measurement in the fair value hierarchy. Customer relationships, distributor relationships, backlog, trademark and developed technology were valued using the income approach, based on estimated projections of expected cash flows to be generated by the assets, discounted to the present value at discount rates commensurate with perceived risk. The discounted cash flow analyses factor in assumptions on revenue and expense growth rates including estimates of customer growth and attrition rates, distributor growth and attrition rates, technology obsolescence, and relief from royalty projections. Additionally, these discounted cash flow analyses factor in expected amounts of working capital, fixed assets, assembled workforce and cost of capital for each intangible asset.

SIGNIFICANT ACCOUNTING POLICIES (Details) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Assets	$ 3,978	$ 5,075
Financial Liabilities	792	3,292
Fair Value, Inputs, Level 3 [Member] \| Earnout [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Liabilities	792	3,292
Money market funds [Member] \| Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Assets	2,665	2,550
Treasury bills [Member] \| Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Assets	$ 1,313	$ 2,525

SHAREHOLDERS' EQUITY (Details) - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Share-based Payment Arrangement [Abstract]
Number, Options outstanding	4,723
Number, Granted	0
Number, Exercised	0
Number, Forfeited	0
Options outstanding	4,723	4,723
Options exercisable	4,723
Average exercise price, Options outstanding	$ 259.73
Average exercise price, Granted	0
Average exercise price, Exercised	0
Average exercise price, Forfeited	0
Average exercise price, Options outstanding	259.73	$ 259.73
Average exercise price, Options exercisable	$ 259.73
Average remaining contractual life (in years), Options outstanding	3 years 7 months 13 days	4 years 4 months 20 days
Average remaining contractual life (in years), Options exercisable	3 years 7 months 13 days
Aggregate intrinsic value (in thousands), Options outstanding	$ 0	$ 0
Aggregate intrinsic value (in thousands), Options exercisable	$ 0

SIGNIFICANT ACCOUNTING POLICIES (Tables)

9 Months Ended

Sep. 30, 2024

Accounting Policies [Abstract]

Schedule of assets and liabilities measured at fair value

		Fair value measurements as of
Description	Fair Value Hierarchy	September 30, 2024		December 31, 2023
Financial assets:

Money market funds included in cash and cash equivalent	Level 1	$	2,665	$	2,550
Treasury bills included in cash and cash equivalent	Level 1		1,313		2,525

Total Assets Measured at Fair Value		$	3,978	$	5,075

Financial Liabilities:
Earnout	Level 3	$	792	$	3,292

Total liabilities measured at fair value		$	792	$	3,292

Schedule of warrants liability activity

	Earnout
Balance December 31, 2023	$	3,292
Change in fair value		(2,500	)
Balance September 30, 2024	$	792

Schedule of disaggregation of revenues

	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Product	$	4,800	$	3,632	$	13,667	$	5,563
Rental		1,008		303		2,776		685
Service and warranty		320		468		1,675		722
Total Revenues	$	6,128	$	4,403	$	18,118	$	6,970

Schedule of contract balances

	September 30,		December 31,
	2024		2023
Trade receivable, net of credit losses (1)	$	5,843	$	3,120
Deferred revenues (1) (2)	$	2,659	$	3,010

(1)

Balance presented net of unrecognized revenues that were not yet collected.

(2)

During the nine months ended September 30, 2024, $1.6 million of the December 31, 2023 deferred revenues balance was recognized as revenues.

Schedule of concentration of credit risk

	September 30,			December 31,
	2024			2023
Customer A		42	%		-

Schedule of product warranty liability

	US Dollars in thousands
Balance at December 31, 2023	$	348
Provision		606
Usage		(530	)
Balance at September 30, 2024	$	424

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Allowance for credit losses	$ 193	$ 328
Ordinary shares, authorized	25,000,000	25,000,000
Ordinary shares, issued	9,380,291	9,161,798
Ordinary shares, outstanding	8,805,633	8,587,140
Treasury stock common shares	574,658	574,658

SHAREHOLDERS' EQUITY (Details 3)

9 Months Ended

Sep. 30, 2024

$ / shares

Class of Warrant or Right [Line Items]

Warrants outstanding

2,498,574

Warrants outstanding and exercisable

2,498,574

December 31, 2015 [Member]

Class of Warrant or Right [Line Items]

Warrants outstanding

681

^[1]

Exercise price per warrant | $ / shares

$ 52.5

^[1]

Warrants outstanding and exercisable

681

^[1]

December 28, 2016 [Member]

Class of Warrant or Right [Line Items]

Warrants outstanding

272

^[2]

Exercise price per warrant | $ / shares

$ 52.5

^[2]

Warrants outstanding and exercisable

272

^[2]

April 5, 2019 [Member]

Class of Warrant or Right [Line Items]

Warrants outstanding

58,350

^[3]

Exercise price per warrant | $ / shares

$ 35.98

^[3]

Warrants outstanding and exercisable

58,350

^[3]

Contractual term

Oct. 07, 2024

^[3]

June 12, 2019 [Member]

Class of Warrant or Right [Line Items]

Warrants outstanding

59,523

^[4]

Exercise price per warrant | $ / shares

$ 42

^[4]

Warrants outstanding and exercisable

59,523

^[4]

Contractual term

Dec. 12, 2024

^[4]

February 10, 2020 [Member]

Class of Warrant or Right [Line Items]

Warrants outstanding

4,054

^[5]

Exercise price per warrant | $ / shares

$ 8.75

^[5]

Warrants outstanding and exercisable

4,054

^[5]

Contractual term

Feb. 10, 2025

^[5]

February 10, 2020 [Member]

Class of Warrant or Right [Line Items]

Warrants outstanding

15,120

^[6]

Exercise price per warrant | $ / shares

$ 10.94

^[6]

Warrants outstanding and exercisable

15,120

^[6]

Contractual term

Feb. 10, 2025

^[6]

July 6, 2020 [Member]

Class of Warrant or Right [Line Items]

Warrants outstanding

64,099

^[7]

Exercise price per warrant | $ / shares

$ 12.32

^[7]

Warrants outstanding and exercisable

64,099

^[7]

Contractual term

Jan. 02, 2026

^[7]

July 6, 2020 [Member]

Class of Warrant or Right [Line Items]

Warrants outstanding

42,326

^[8]

Exercise price per warrant | $ / shares

$ 15.95

^[8]

Warrants outstanding and exercisable

42,326

^[8]

Contractual term

Jan. 02, 2026

^[8]

December 8, 2020 [Member]

Class of Warrant or Right [Line Items]

Warrants outstanding

83,821

^[9]

Exercise price per warrant | $ / shares

$ 9.38

^[9]

Warrants outstanding and exercisable

83,821

^[9]

Contractual term

Jun. 08, 2026

^[9]

December 8, 2020 [Member]

Class of Warrant or Right [Line Items]

Warrants outstanding

15,543

^[10]

Exercise price per warrant | $ / shares

$ 12.55

^[10]

Warrants outstanding and exercisable

15,543

^[10]

Contractual term

Jun. 08, 2026

^[10]

February 26, 2021 [Member]

Class of Warrant or Right [Line Items]

Warrants outstanding

780,095

^[11]

Exercise price per warrant | $ / shares

$ 25.2

^[11]

Warrants outstanding and exercisable

780,095

^[11]

Contractual term

Aug. 26, 2026

^[11]

February 26, 2021 [Member]

Class of Warrant or Right [Line Items]

Warrants outstanding

93,612

^[12]

Exercise price per warrant | $ / shares

$ 32.05

^[12]

Warrants outstanding and exercisable

93,612

^[12]

Contractual term

Aug. 26, 2026

^[12]

September 29, 2021 [Member]

Class of Warrant or Right [Line Items]

Warrants outstanding

1,143,821

^[13]

Exercise price per warrant | $ / shares

$ 14

^[13]

Warrants outstanding and exercisable

1,143,821

^[13]

Contractual term

Mar. 29, 2027

^[13]

September 29, 2021 [Member]

Class of Warrant or Right [Line Items]

Warrants outstanding

137,257

^[14]

Exercise price per warrant | $ / shares

$ 17.81

^[14]

Warrants outstanding and exercisable

137,257

^[14]

Contractual term

Sep. 27, 2026

^[14]

[1]	Represents warrants for ordinary shares issuable upon an exercise price of $52.50 per share, which were granted on December 31, 2015 to Kreos Capital V (Expert) Fund Limited (“Kreos”) in connection with a loan made by Kreos to the Company and are currently exercisable (in whole or in part) until the earlier of (i) December 30, 2025 or (ii) immediately prior to the consummation of a merger, consolidation, or reorganization of the Company with or into, or the sale or license of all or substantially all the assets or shares of the Company to, any other entity or person, other than a wholly owned subsidiary of the Company, excluding any transaction in which the Company’s shareholders prior to the transaction will hold more than 50% of the voting and economic rights of the surviving entity after the transaction. None of these warrants had been exercised as of September 30, 2024.
[2]	Represents common warrants that were issued as part of the $8.0 million drawdown under the Loan Agreement which occurred on December 28, 2016. See footnote 1 for exercisability terms.
[3]	Represents warrants that were issued to certain institutional purchasers in a private placement in the Company’s registered direct offering of ordinary shares in April 2019.
[4]	Represents warrants that were issued to certain institutional investors in a warrant exercise agreement in June 2019.
[5]	Represents warrants that were issued to certain institutional purchasers in a private placement in the Company’s best efforts offering of ordinary shares in February 2020. As of September 30, 2024, 534,300 warrants were exercised for a total consideration of $4,675,125.During the nine months ended September 30, 2024, no warrants were exercised.
[6]	Represents warrants that were issued to the placement agent as compensation for its role in the Company’s February 2020 best efforts offering. As of September 30, 2024, 32,880 warrants were exercised for a total consideration of $359,625.During the nine months ended September 30, 2024, no warrants were exercised.
[7]	Represents warrants that were issued to certain institutional purchasers in a private placement in our registered direct offering of ordinary shares in July 2020. As of September 30, 2024, 288,634 warrants were exercised for a total consideration of $3,556,976. During the nine months that ended September 30, 2024, no warrants were exercised.
[8]	Represents warrants that were issued to the placement agent as compensation for its role in the Company’s July 2020 registered direct offering.
[9]	Represents warrants that were issued to certain institutional purchasers in a private placement in our private placement offering of ordinary shares in December 2020. As of September 30, 2024, 514,010 warrants were exercised for a total consideration of $4,821,416. During the nine months that ended September 30, 2024, no warrants were exercised.
[10]	Represents warrants that were issued to the placement agent as compensation for its role in the Company’s December 2020 private placement. As of September 30, 2024, 32,283 warrants were exercised for a total consideration of $405,003. During the nine months that ended September 30, 2024, no warrants were exercised.
[11]	Represents warrants that were issued to certain institutional purchasers in a private placement in our private placement offering of ordinary shares in February 2021.
[12]	Represents warrants that were issued to the placement agent as compensation for its role in the Company’s February 2021 private placement.
[13]	Represents warrants that were issued to certain institutional purchasers in a private placement in our registered direct offering of ordinary shares in September 2021.
[14]	Represents warrants that were issued to the placement agent as compensation for its role in the Company’s September 2021 registered direct offering.

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical 1) - ₪ / shares	Sep. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Common Stock, Par or Stated Value Per Share	₪ 1.75	₪ 1.75

COMMITMENTS AND CONTINGENT LIABILITIES (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Commitments and Contingent Liabilities (Textual)
Lease expense	$ 321	$ 269	$ 974	$ 657
Non-cancelable outstanding obligations	5,900		5,900
Total fund received			$ 806
Lease expiration, term			The Company operates from leased facilities in Israel, the United States and Germany. These leases expire in 2025
Royalty revenues	0		$ 55	$ 31
Other long-term assets	361		$ 361
IPO [Member]
Commitments and Contingent Liabilities (Textual)
Description of conversion ratio			ordinary shares in a conversion ratio of 1 to 1
LL And LG [Member]
Commitments and Contingent Liabilities (Textual)
Maximum penalties payable on early release of agreement	28		$ 28
Lease expiration, term			LL and LG lease cars for their employees under cancelable operating lease agreements expiring at various dates between 2024 and 2026.
Israel Innovation Authority ("IIA") [Member]
Commitments and Contingent Liabilities (Textual)
Total fund received			$ 2,800
Royalty bearing grants			1,600
Royalties paid			$ 114
Percentage of obligation to pay royalties			3.00%
Contingent liability	1,600		$ 1,600
Percentage of grant received			100.00%
Royalties expenses	$ 2,000		$ 2,000
Israel Innovation Authority ("IIA") [Member] \| Convertible preferred A shares [Member]
Commitments and Contingent Liabilities (Textual)
Amount received in consideration of preferred shares			$ 400
Convertible preferred shares	209		209

SIGNIFICANT ACCOUNTING POLICIES (Details 1) - Earnout [Member] $ in Thousands	9 Months Ended
	Sep. 30, 2024 USD ($)
Fair Value Warrants Liability Activity [Line Items]
Balance December 31, 2023	$ 3,292
Change in fair value	(2,500)
Balance September 30, 2024	$ 792

SIGNIFICANT ACCOUNTING POLICIES (Details Textual) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Significant Accounting Policies (Textual)
Deferred revenues recognized	$ 1,600
Allowance for credit losses	$ 193		$ 328
Number of ordinary shares excluded from the calculations of diluted loss per share	2,503,297	2,780,512
Revenue recognition description	the estimated revenue expected to be recognized in the future related to the service type warranty amounts to $2.7 million, which will be fulfilled over one to five years.

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-41

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 270
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482964/270-10-50-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (ee)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 4: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 5: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479941/924-10-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-5

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-42

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-40

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-4

+ Details

SHAREHOLDERS' EQUITY (Details 2) - Employee Stock Option [Member]

9 Months Ended

Sep. 30, 2024

$ / shares

Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]

Options outstanding

336,442

Options outstanding weighted average remaining contractual life (years)

3 years 7 months 13 days

^[1]

Options outstanding and exercisable

4,723

Options exercisable weighted average remaining contractual life (years)

3 years 7 months 13 days

^[1]

Exercise Price Range [Member]

Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]

Options outstanding

331,719

Options outstanding and exercisable

$37.6 [Member]

Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]

Exercise price | $ / shares

$ 37.6

Options outstanding

1,774

Options outstanding weighted average remaining contractual life (years)

4 years 5 months 26 days

^[1]

Options outstanding and exercisable

1,774

Options exercisable weighted average remaining contractual life (years)

4 years 5 months 26 days

^[1]

$178.5 - $236.3 [Member]

Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]

Range of exercise price, minimum | $ / shares

$ 178.5

Range of exercise price, maximum | $ / shares

$ 236.3

Options outstanding

1,845

Options outstanding weighted average remaining contractual life (years)

3 years 7 months 2 days

^[1]

Options outstanding and exercisable

1,845

Options exercisable weighted average remaining contractual life (years)

3 years 7 months 2 days

^[1]

$350 - $367.5 [Member]

Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]

Range of exercise price, minimum | $ / shares

$ 350

Range of exercise price, maximum | $ / shares

$ 367.5

Options outstanding

887

Options outstanding weighted average remaining contractual life (years)

2 years 7 months 24 days

^[1]

Options outstanding and exercisable

887

Options exercisable weighted average remaining contractual life (years)

2 years 7 months 24 days

^[1]

$1,277.5 - $3,634.8 [Member]

Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]

Range of exercise price, minimum | $ / shares

$ 1,277.5

Range of exercise price, maximum | $ / shares

$ 3,634.8

Options outstanding

217

Options outstanding weighted average remaining contractual life (years)

7 months 17 days

^[1]

Options outstanding and exercisable

217

Options exercisable weighted average remaining contractual life (years)

7 months 17 days

^[1]

[1]	Calculation of weighted average remaining contractual term does not include the RSUs that were granted, which have an indefinite contractual term.

Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2024	Nov. 07, 2024
Cover [Abstract]
Entity Central Index Key	0001607962
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Amendment Flag	false
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2024
Entity File Number	001-36612
Entity Registrant Name	Lifeward Ltd.
Entity Incorporation State or Country Code	L3
Entity Tax Identification Number	00-0000000
Entity Address, Address Line One	200 Donald Lynch Blvd.
Entity Address, City or Town	Marlborough
Entity Address, Country	MA
Entity Address, Postal Zip Code	01752
Title of 12(b) Security	Ordinary shares, par value NIS 1.75
Trading Symbol	LFWD
Name of Exchange on which Security is Registered	NASDAQ
City Area Code	+508
Local Phone Number	251.1154
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		8,808,143

Insider Trading Arrangements	9 Months Ended
Insider Trading Arrangements	Sep. 30, 2024
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	During the quarter ended September 30, 2024, none of our directors or officers (as defined in Rule 16a-1(f) under the Exchange Act) adopted or terminated a “Rule 10b5-1 trading arrangement” or “non-Rule 10b5-1 trading arrangement” (as each term is defined in Item 408(a) of Regulation S-K).
Title	directors or officers
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

FINANCIAL INCOME, NET

9 Months Ended

Sep. 30, 2024

Other Income and Expenses [Abstract]

FINANCIAL INCOME, NET

NOTE 9: FINANCIAL INCOME, NET

The components of financial (expenses) income, net were as follows (in thousands):

	Three Months Ended September 30,					Nine Months Ended September 30,
	2024			2023		2024			2023
Foreign currency transactions and other	$	38		$	17	$	1		$	39
Interest income		107			394		591			1,024
Bank commissions		(26	)		-		(97	)		(16	)
	$	119		$	411	$	495		$	1,047

INVENTORIES (Tables)

9 Months Ended

Sep. 30, 2024

Inventory Disclosure [Abstract]

Schedule of inventories

	September 30,		December 31,
	2024		2023
Finished products	$	4,174	$	3,157
Raw materials		3,126		2,496
	$	7,300	$	5,653

GEOGRAPHIC INFORMATION AND MAJOR CUSTOMER AND PRODUCT DATA (Details 1) - USD ($)
$ in Thousands

Sep. 30, 2024

Dec. 31, 2023

Revenues from External Customers and Long-Lived Assets [Line Items]

Long-lived assets

^[1]

$ 2,162

$ 3,123

Israel [Mmeber]

Revenues from External Customers and Long-Lived Assets [Line Items]

Long-lived assets

^[1]

244

529

United States [Member]

Revenues from External Customers and Long-Lived Assets [Line Items]

Long-lived assets

^[1]

1,777

2,404

Germany [Member]

Revenues from External Customers and Long-Lived Assets [Line Items]

Long-lived assets

^[1]

$ 141

$ 190

[1]	Long-lived assets are comprised of property and equipment, net, and operating lease right-of-use assets.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash flows used in operating activities:
Net loss	$ (13,664)	$ (16,494)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	370	134
Amortization of intangible assets	2,505	764
Share-based compensation	1,047	955
Remeasurement of earnout liability	(2,500)	40
Interest income	(2)	(13)
Exchange rate fluctuations	29	24
Changes in assets and liabilities:
Trade receivables, net	(2,723)	(720)
Prepaid expenses, operating lease right-of-use assets and other assets	2,017	(849)
Inventories	(2,523)	(480)
Trade payables	(77)	1,895
Employees and payroll accruals	(552)	(347)
Deferred revenues	(351)	(23)
Operating lease liabilities and other liabilities	(1,325)	(1,069)
Net cash used in operating activities	(17,749)	(16,183)
Cash flows used in investing activities:
Purchase of property and equipment	0	(2)
Acquisition of a business, net of cash acquired	0	(18,068)
Net cash used in investing activities	0	(18,070)
Cash flows from financing activities:
Purchase of treasury shares	0	(992)
Net cash used in financing activities	0	(992)
Effect of Exchange rate changes on Cash, Cash Equivalents and Restricted Cash	(29)	(24)
Decrease in cash, cash equivalents, and restricted cash	(17,778)	(35,269)
Cash, cash equivalents, and restricted cash at beginning of period	28,792	68,555
Cash, cash equivalents, and restricted cash at end of period	11,014	33,286
Supplemental disclosures of non-cash flow information
Classification of inventory to property and equipment, net	325	194
ROU assets obtained from new lease liabilities	0	513
Supplemental cash flow information:
Cash and cash equivalents	10,653	32,590
Restricted cash included in other long-term assets	361	696
Total Cash, cash equivalents, and restricted cash	$ 11,014	$ 33,286

SHAREHOLDERS' EQUITY (Details 1) - Employee and Non-Employee RSUs [Member]	9 Months Ended
	Sep. 30, 2024 $ / shares shares
Number of shares underlying outstanding RSUs
Unvested RSUs, Beginning balance \| shares	538,885
Granted \| shares	14,740
Vested \| shares	(218,493)
Forfeited \| shares	(3,413)
Unvested RSUs, Ending balance \| shares	331,719
Weighted average grant date fair value
Unvested RSUs, Beginning balance \| $ / shares	$ 6.07
Granted \| $ / shares	4.8
Vested \| $ / shares	6.56
Forfeited \| $ / shares	6.86
Unvested RSUs, Ending balance \| $ / shares	$ 5.68

GEOGRAPHIC INFORMATION AND MAJOR CUSTOMER AND PRODUCT DATA (Details 2) - Sales Revenue, Net [Member] - Customer Concentration Risk [Member]

9 Months Ended

Sep. 30, 2024

Sep. 30, 2023

Customer A [Member]

Revenue, Major Customer [Line Items]

Concentration risk

16.40%

0.00%

Customer B [Member]

Revenue, Major Customer [Line Items]

Concentration risk

^[1]

15.90%

[1]	Less than 10%.

GOODWILL AND OTHER INTANGIBLE ASSETS, NET (Details Textual) $ in Millions	9 Months Ended
	Sep. 30, 2024 USD ($)
Alterg Inc [Member]
Goodwill [Line Items]
Purchase of goodwill	$ 7.5

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1A

+ Details

SIGNIFICANT ACCOUNTING POLICIES (Details 5) $ in Thousands	9 Months Ended
SIGNIFICANT ACCOUNTING POLICIES (Details 5) $ in Thousands	Sep. 30, 2024 USD ($)
Accounting Policies [Abstract]
Balance at December 31, 2022	$ 348
Provision	606
Usage	(530)
Balance at September 30, 2024	$ 424

SIGNIFICANT ACCOUNTING POLICIES (Details 2) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Total Revenues	$ 6,128	$ 4,403	$ 18,118	$ 6,970
Rental [Member]
Total Revenues	1,008	303	2,776	685
Product [Member]
Total Revenues	4,800	3,632	13,667	5,563
Service And Warranty [Member]
Total Revenues	$ 320	$ 468	$ 1,675	$ 722

- Definition

+ References

+ Details

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands

Sep. 30, 2024

Dec. 31, 2023

CURRENT ASSETS

Cash and cash equivalents

$ 10,653

$ 28,083

Trade receivables, net of credit losses of $193 and $328, respectively

5,843

3,120

Prepaid expenses and other current assets

1,818

2,366

Inventories

7,300

5,653

Total current assets

25,614

39,222

LONG-TERM ASSETS

Restricted cash and other long-term assets

436

784

Operating lease right-of-use assets

945

1,861

Property and equipment, net

1,217

1,262

Intangible assets

10,020

12,525

Goodwill

7,538

Total long-term assets

20,156

23,970

Total assets

45,770

63,192

CURRENT LIABILITIES

Trade payables

4,992

5,069

Employees and payroll accruals

1,482

2,034

Deferred revenues

1,358

1,504

Current maturities of operating leases liability

936

1,296

Earnout liability

576

Other current liabilities

889

1,316

Total current liabilities

9,657

11,795

LONG-TERM LIABILITIES

Earnout liability

792

2,716

Deferred revenues

1,301

1,506

Non-current operating leases liability

607

Other long-term liabilities

Total long-term liabilities

2,220

4,887

Total liabilities

11,877

16,682

COMMITMENTS AND CONTINGENT LIABILITIES

Shareholders' equity:

Ordinary share of NIS 1.75 par value-Authorized: 25,000,000 shares at September 30, 2024 and December 31, 2023; Issued: 9,380,291 and 9,161,798 shares at September 30, 2024 and December 31, 2023, respectively; Outstanding: 8,805,633 and 8,587,140 shares as of September 30, 2024 and December 31, 2023 respectively (1)

^[1]

4,589

4,487

Additional paid-in capital

282,054

281,109

Treasury Shares at cost, 574,658 ordinary shares at September 30, 2024 and December 31, 2023 (1)

^[1]

(3,203)

Accumulated deficit

(249,547)

(235,883)

Total shareholders' equity

33,893

46,510

Total liabilities and shareholders' equity

$ 45,770

$ 63,192

[1]	Reflects our one-for-seven reverse share split that became effective on March 15, 2024. See Note 8a to the condensed consolidated financial statements.

GOODWILL AND OTHER INTANGIBLE ASSETS, NET (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2024 USD ($)
Finite-Lived Intangible Assets [Line Items]
Cost	$ 14,133
Accumulated Amortization	(4,113)
Intangible Assets, Net	10,020
Trademark
Finite-Lived Intangible Assets [Line Items]
Cost	795
Accumulated Amortization	(302)
Intangible Assets, Net	493
Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Cost	6,161
Accumulated Amortization	(1,757)
Intangible Assets, Net	4,404
Customer relationship - Warranty
Finite-Lived Intangible Assets [Line Items]
Cost	201
Accumulated Amortization	(115)
Intangible Assets, Net	86
Customer relationship - Rental
Finite-Lived Intangible Assets [Line Items]
Cost	2,102
Accumulated Amortization	(600)
Intangible Assets, Net	1,502
Customer relationship - Distribution
Finite-Lived Intangible Assets [Line Items]
Cost	4,578
Accumulated Amortization	(1,043)
Intangible Assets, Net	3,535
Backlog
Finite-Lived Intangible Assets [Line Items]
Cost	296
Accumulated Amortization	(296)
Intangible Assets, Net	$ 0

INVENTORIES (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Finished products	$ 4,174	$ 3,157
Raw materials	3,126	2,496
Inventories	$ 7,300	$ 5,653

COMMITMENTS AND CONTINGENT LIABILITIES (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
2024	$ 342
2025	670
2026	12
Total lease payments	1,024
Less: imputed interest	(43)
Present value of future lease payments	981
Less: current maturities of operating leases	936	$ 1,296
Non-current operating leases	$ 45	$ 607
Weighted-average remaining lease term (in years)	11 months 1 day
Weighted-average discount rate	9.12%

GOODWILL AND OTHER INTANGIBLE ASSETS, NET

9 Months Ended

Sep. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND OTHER INTANGIBLE ASSETS, NET

NOTE 6: GOODWILL AND OTHER INTANGIBLE ASSETS, NET

The Company has $7.5 million of goodwill related to its purchase of LCAI in the third quarter of fiscal year 2023, which has an indefinite life, and is not deductible for tax purposes.

As of September 30, 2024, the components of, and changes in, the carrying amount of intangible assets, net, were as follows (in thousands):

	Cost		September 30, 2024 Accumulated Amortization			Intangible Assets, Net
Trademark	$	795	$	(302	)	$	493
Technology		6,161		(1,757	)		4,404
Customer relationship - Warranty		201		(115	)		86
Customer relationship - Rental		2,102		(600	)		1,502
Customer relationship - Distribution		4,578		(1,043	)		3,535
Backlog		296		(296	)	‐
Total Amortized Intangible Assets	$	14,133	$	(4,113	)	$	10,020

The estimated amortization expense is shown below (in thousands):

Fiscal 2024 (period remaining)	$	842
Fiscal 2025		3,307
Fiscal 2026		3,143
Fiscal 2027		2,172
Fiscal 2028		556
Total	$	10,020

SHAREHOLDERS' EQUITY (Details 4) - USD ($) $ in Thousands	9 Months Ended
SHAREHOLDERS' EQUITY (Details 4) - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Non-cash share-based compensation expense	$ 1,047	$ 955
Cost of revenues [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Non-cash share-based compensation expense	12	5
Research and development [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Non-cash share-based compensation expense	130	112
Sales and marketing [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Non-cash share-based compensation expense	309	270
General and administrative [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Non-cash share-based compensation expense	$ 596	$ 568

GEOGRAPHIC INFORMATION AND MAJOR CUSTOMER AND PRODUCT DATA (Details Textual)	9 Months Ended
	Sep. 30, 2024 segment
Geographic Information and Major Customer and Product Data (Textual)
Number of reportable segments	1

COMMITMENTS AND CONTINGENT LIABILITIES (Tables)

9 Months Ended

Sep. 30, 2024

Commitments and Contingencies Disclosure [Abstract]

Schedule of future minimum lease commitments

2024	$	342
2025		670
2026		12
Total lease payments		1,024
Less: imputed interest		(43	)
Present value of future lease payments		981
Less: current maturities of operating leases		936
Non-current operating leases	$	45
Weighted-average remaining lease term (in years)		0.92
Weighted-average discount rate		9.12	%

BUSINESS COMBINATION (Details) - USD ($) $ in Thousands	Aug. 08, 2023	Sep. 30, 2024
Business Acquisition [Line Items]
Cash		$ 478
Alterg Inc [Member]
Business Acquisition [Line Items]
Cash	$ 18,493
Earnout payments	3,607
Total consideration	$ 22,100

BUSINESS COMBINATION (Details 1) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Business Combinations [Abstract]
Cash and cash equivalent	$ 478
Restricted cash	51
Accounts receivable	1,773
Inventory	3,330
Prepaid expenses and other current assets	470
Right of use asset	1,151
Property and equipment, net	827
Other non-current assets	30
Goodwill	7,538	$ 7,538
Intangible assets	14,133
Accounts payable	(2,082)
Accrued compensation	(766)
Other accrued liabilities	(1,059)
Deferred revenue	(2,088)
Warranty Obligations	(535)
Leases Liability	(1,151)
Total purchase consideration	$ 22,100

GENERAL

9 Months Ended

Sep. 30, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

GENERAL

NOTE 1: GENERAL

Lifeward Ltd. (“LL,” and together with its subsidiaries, the “Company”) was originally incorporated under the laws of the State of Israel on June 20, 2001, and commenced operations on the same date under the name Argo Medical Technologies Ltd. This name was later changed to ReWalk Robotics Ltd. on June 18, 2014. On January 29, 2024, the Company announced that it had rebranded as Lifeward, with each subsidiary of LL renamed to reflect the new corporate identity. The Company officially changed its name to Lifeward Ltd. on September 10, 2024.

LL has three wholly owned (directly and indirectly) subsidiaries: (i) Lifeward Inc. (“LI”) originally incorporated under the laws of Delaware on February 15, 2012 under the name of ReWalk Robotics, Inc., (ii) Lifeward GMBH (“LG”) originally incorporated under the laws of Germany on January 14, 2013 under the name of ReWalk Robotics GMBH, and (iii) Lifeward CA, Inc. ( “LCAI”) originally incorporated in Delaware on October 21, 2004 under the name of Gravus, Inc., which was later changed to AlterG, Inc. on June 30, 2005.

The Company is a medical device company that designs, develops, and commercializes life-changing solutions that span the continuum of care in physical rehabilitation and recovery, delivering proven functional and health benefits in clinical settings as well as in the home and community. The Company’s initial product offerings were the ReWalk Personal and ReWalk Rehabilitation Exoskeleton devices for individuals with spinal cord injury (collectively, the “SCI Products”). These devices are robotic exoskeletons that are designed for individuals with paraplegia that use the Company’s patented tilt-sensor technology and an on-board computer and motion sensors to drive motorized legs that power movement. These SCI Products allow individuals with spinal cord injury the ability to stand and walk again during everyday activities at home or in the community.

The Company has sought to expand its product offerings beyond the SCI Products through internal development and distribution agreements. The Company has developed its ReStore Exo-Suit device (the “ReStore”), which it began commercializing in June 2019. The ReStore is a powered, lightweight soft exo-suit intended for use during the rehabilitation of individuals with lower limb disabilities due to stroke. During the second quarter of 2020, the Company signed an agreement to distribute product lines in the United States. The Company is the exclusive distributor of the MYOLYN MyoCycle FES Pro cycles to U.S. rehabilitation clinics and for the MyoCycle Home cycles available to US veterans through VA hospitals. We refer to the MyoCycle devices as our “Distributed Product.”

On August 11, 2023, pursuant to an Agreement and Plan of Merger among LI, AlterG, Inc., Atlas Merger Sub, Inc., a wholly owned subsidiary of AlterG, Inc. (“Merger Sub”), and Shareholder Representative Services LLC, dated August 8, 2023, LI acquired AlterG, Inc. and AlterG, Inc. became a wholly owned subsidiary of the Company. With the rebranding of the Company, AlterG, Inc. was renamed as LCAI.

For accounting purposes, LI was considered the acquirer and AlterG, Inc. was considered the acquiree. The acquisition was accounted for using the acquisition method of accounting. See Note 5 for additional information.

The Company made its first acquisition to supplement its internal growth when it acquired AlterG, Inc., a leading provider of anti-gravity systems for use in physical and neurological rehabilitation. The Company paid a cash purchase price of approximately $19 million at closing and additional cash earnouts may be paid based upon a percentage of AlterG’s year-over-year revenue growth over the two years following the closing. The AlterG anti-gravity systems use patented, NASA-derived Differential Air Pressure (“DAP”) technology to reduce the effects of gravity and allow people to rehabilitate with finely calibrated support and reduced pain. The Company will continue to evaluate other products for distribution or acquisition that can broaden its product offerings further to help individuals with neurological injury and disability.

The Company markets and sells its products directly to institutions and individuals and through third-party distributors. The Company sells its products directly primarily in the United States, through a combination (depending on the product line) of direct sales and distributors in Germany, Canada, and Australia, and primarily through distributors in other markets. In its direct markets, the Company has established relationships with clinics and rehabilitation centers, professional and college sports teams, and individuals and organizations in the spinal cord injury community, and in its indirect markets, the Company’s distributors maintain these relationships.

As of September 30, 2024, the Company incurred a consolidated net loss of $13.7 million and has an accumulated deficit in the total amount of $249.5 million. The Company’s cash and cash equivalents as of September 30, 2024 totaled $10.7 million and the Company’s negative operating cash flow for the nine months ended September 30, 2024 was $17.7 million. The Company believes it has sufficient funds to support its operations for more than 12 months following the issuance date of its unaudited condensed consolidated financial statements for the nine months ended September 30, 2024.

The Company expects to incur future net losses and its transition to profitability is dependent upon, among other things, the successful development and commercialization of its products and product candidates, the establishment of contracts for the distribution of new product lines, or the acquisition of additional product lines, any of which, or in combination, would contribute to the achievement of a level of revenues adequate to support its cost structure. If the Company does not achieve a level of revenues adequate to support its cost structure, it will implement cost reduction measures. These plans may include restructuring efforts and additional cost reductions if needed. Until the Company achieves profitability or generates positive cash flows, it will continue to need to raise additional cash. The Company intends to fund future operations through cash on hand, additional private and/or public offerings of debt or equity securities, cash exercises of outstanding warrants or a combination of the foregoing. In addition, the Company may seek additional capital through arrangements with strategic partners or from other sources and will continue to address its cost structure. Notwithstanding, there can be no assurance that the Company will be able to raise additional funds or achieve or sustain profitability or positive cash flows from operations.

GOODWILL AND OTHER INTANGIBLE ASSETS, NET (Tables)

9 Months Ended

Sep. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of intangible assets

	Cost		September 30, 2024 Accumulated Amortization			Intangible Assets, Net
Trademark	$	795	$	(302	)	$	493
Technology		6,161		(1,757	)		4,404
Customer relationship - Warranty		201		(115	)		86
Customer relationship - Rental		2,102		(600	)		1,502
Customer relationship - Distribution		4,578		(1,043	)		3,535
Backlog		296		(296	)	‐
Total Amortized Intangible Assets	$	14,133	$	(4,113	)	$	10,020

Schedule of future amortization expense

Fiscal 2024 (period remaining)	$	842
Fiscal 2025		3,307
Fiscal 2026		3,143
Fiscal 2027		2,172
Fiscal 2028		556
Total	$	10,020

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ (3,084)	$ (7,531)	$ (13,664)	$ (16,494)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

GEOGRAPHIC INFORMATION AND MAJOR CUSTOMER AND PRODUCT DATA (Tables)

9 Months Ended

Sep. 30, 2024

Segment Reporting [Abstract]

Schedule of revenues within geographic areas

	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Revenues based on customer’s location:
United States	$	3,458	$	2,497	$	11,054	$	4,298
Europe		2,419		1,466		5,896		2,201
Asia-Pacific		150		94		544		123
Rest of the world		101		346		624		348
Total revenues	$	6,128	$	4,403	$	18,118	$	6,970

Schedule of long-lived assets by geographic region

	September 30,		December 31,
	2024		2023
Long-lived assets by geographic region (*):
Israel	$	244	$	529
United States		1,777		2,404
Germany		141		190
	$	2,162	$	3,123

(*)	Long-lived assets are comprised of property and equipment, net, and operating lease right-of-use assets.

Schedule of major customer data as a percentage of total revenues

	Nine Months Ended September 30,
	2024			2023
Major customer data as a percentage of total revenues:
Customer A		16.4	%		-
Customer B		*	)		15.9	%

*) Less than 10%.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
$ in Thousands

3 Months Ended

9 Months Ended

Sep. 30, 2024

Sep. 30, 2023

Sep. 30, 2024

Sep. 30, 2023

Income Statement [Abstract]

Revenues

$ 6,128

$ 4,403

$ 18,118

$ 6,970

Cost of revenues

3,908

3,540

11,746

4,960

Gross profit

2,220

863

6,372

2,010

Operating expenses:

Research and development, net

998

1,262

3,494

2,830

Sales and marketing

4,156

4,088

13,573

9,076

General and administrative

240

3,455

3,424

7,579

Total operating expenses

5,394

8,805

20,491

19,485

Operating loss

(3,174)

(7,942)

(14,119)

(17,475)

Financial income, net

119

411

495

1,047

Loss before income taxes

(3,055)

(7,531)

(13,624)

(16,428)

Taxes on income

Net loss

$ (3,084)

$ (7,531)

$ (13,664)

$ (16,494)

Net loss per ordinary share, basic

$ (0.35)

$ (0.88)

$ (1.58)

$ (1.94)

Net loss per ordinary share, diluted

$ (0.35)

$ (0.88)

$ (1.58)

$ (1.94)

Weighted average number of shares used in computing net loss per ordinary share, basic

^[1]

8,756,882

8,542,630

8,652,085

8,501,397

Weighted average number of shares used in computing net loss per ordinary share, diluted

^[1]

8,756,882

8,542,630

8,652,085

8,501,397

[1]	Reflects our one-for-seven reverse share split that became effective on March 15, 2024. See Note 8a to the condensed consolidated financial statements.

SIGNIFICANT ACCOUNTING POLICIES

9 Months Ended

Sep. 30, 2024

Accounting Policies [Abstract]

SIGNIFICANT ACCOUNTING POLICIES

NOTE 3: SIGNIFICANT ACCOUNTING POLICIES

Business Combinations

Acquisition-related costs include legal fees, consulting and success fees, and other non-recurring integration related costs. Acquisition-related costs are expensed as incurred.

Goodwill and Other Intangibles

Goodwill is not amortized and is tested for impairment at least annually.

The Company determined no impairment existed for goodwill for the three and nine months ended September 30, 2024.

Fair Value Measurements

		Fair value measurements as of
Description	Fair Value Hierarchy	September 30, 2024		December 31, 2023
Financial assets:

Money market funds included in cash and cash equivalent	Level 1	$	2,665	$	2,550
Treasury bills included in cash and cash equivalent	Level 1		1,313		2,525

Total Assets Measured at Fair Value		$	3,978	$	5,075

Financial Liabilities:
Earnout	Level 3	$	792	$	3,292

Total liabilities measured at fair value		$	792	$	3,292

The following table summarizes the earnout liability activity as of September 30, 2024 (in thousands):

	Earnout
Balance December 31, 2023	$	3,292
Change in fair value		(2,500	)
Balance September 30, 2024	$	792

Revenue Recognition

Disaggregation of Revenues (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Product	$	4,800	$	3,632	$	13,667	$	5,563
Rental		1,008		303		2,776		685
Service and warranty		320		468		1,675		722
Total Revenues	$	6,128	$	4,403	$	18,118	$	6,970

Product revenue

Revenue from Products sold to rehabilitation facilities and end users is recognized at a point in time once the customer has obtained the legal title to the items purchased.

The Company offered five products: (1) ReWalk Personal, (2) ReWalk Rehabilitation, (3) ReStore, (4) MyoCycle and (5) AlterG Anti-Gravity system.

The ReStore is a powered, lightweight soft exo-suit intended for use in the rehabilitation of individuals with lower limb disability due to stroke in the clinical rehabilitation environment.

The Company also sells the MyoCycle, which uses Functional Electrical Stimulation (“FES”) technology, in the United States for use at home or in clinic.

Rental revenue

Service and warranties

The ReStore device is sold with a two-year warranty which is considered as assurance type warranty.

The Distributed Product is sold with an assurance type warranty ranging from between one year to ten years, depending on the specific product and part.

Contract balances (in thousands):

	September 30,		December 31,
	2024		2023
Trade receivable, net of credit losses (1)	$	5,843	$	3,120
Deferred revenues (1) (2)	$	2,659	$	3,010

(1)

Balance presented net of unrecognized revenues that were not yet collected.

(2)

During the nine months ended September 30, 2024, $1.6 million of the December 31, 2023 deferred revenues balance was recognized as revenues.

Concentrations of Credit Risks:

The below table reflects the concentration of credit risk for the Company’s current customers as of September 30, 2024, to which substantial sales were made:

	September 30,			December 31,
	2024			2023
Customer A		42	%		-

Warranty provision

	US Dollars in thousands
Balance at December 31, 2023	$	348
Provision		606
Usage		(530	)
Balance at September 30, 2024	$	424

Basic and diluted net loss per ordinary share:

Basic and diluted net loss per share was the same for each period presented as the inclusion of all potential shares of ordinary shares and warrants outstanding would have been anti-dilutive.

New Accounting Pronouncements

Recent Accounting Pronouncements Not Yet Adopted

	i.	In December 2023, the Financial Accounting Standards Board issued Accounting Standards Update (“ASU”) 2023-09, “Income Taxes - Improvements to Income Tax Disclosures” requiring enhancements and further transparency to certain income tax disclosures, most notably the tax rate reconciliation and income taxes paid. This ASU is effective for fiscal years beginning after December 15, 2024 on a prospective basis and retrospective application is permitted. The Company is currently evaluating the impact of the adoption of this standard.
	ii.	In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which requires public entities to disclose information about their reportable segments’ significant expenses and other segment items on an interim and annual basis. Public entities with a single reportable segment are required to apply the disclosure requirements in ASU 2023-07, as well as all existing segment disclosures and reconciliation requirements in ASC 280, “Segment Reporting” on an interim and annual basis. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023, and for interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact of adopting ASU 2023-07.

GEOGRAPHIC INFORMATION AND MAJOR CUSTOMER AND PRODUCT DATA

9 Months Ended

Sep. 30, 2024

Segment Reporting [Abstract]

GEOGRAPHIC INFORMATION AND MAJOR CUSTOMER AND PRODUCT DATA

NOTE 10: GEOGRAPHIC INFORMATION AND MAJOR CUSTOMER AND PRODUCT DATA

Summary information about geographic areas:

ASC 280, “Segment Reporting” establishes standards for reporting information about operating segments. Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing performance. The Company manages its business on the basis of one reportable segment and derives revenues from selling systems and services. The following is a summary of revenues within geographic areas (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Revenues based on customer’s location:
United States	$	3,458	$	2,497	$	11,054	$	4,298
Europe		2,419		1,466		5,896		2,201
Asia-Pacific		150		94		544		123
Rest of the world		101		346		624		348
Total revenues	$	6,128	$	4,403	$	18,118	$	6,970

	September 30,		December 31,
	2024		2023
Long-lived assets by geographic region (*):
Israel	$	244	$	529
United States		1,777		2,404
Germany		141		190
	$	2,162	$	3,123

(*)	Long-lived assets are comprised of property and equipment, net, and operating lease right-of-use assets.

	Nine Months Ended September 30,
	2024			2023
Major customer data as a percentage of total revenues:
Customer A		16.4	%		-
Customer B		*	)		15.9	%

*) Less than 10%.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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+ Details

INVENTORIES

9 Months Ended

Sep. 30, 2024

Inventory Disclosure [Abstract]

INVENTORIES

NOTE 4: INVENTORIES

The components of inventories are as follows (in thousands):

	September 30,		December 31,
	2024		2023
Finished products	$	4,174	$	3,157
Raw materials		3,126		2,496
	$	7,300	$	5,653