Reports Third Quarter 2019 Financial Results

Reports Third Quarter 2019 Financial Results

- 2019 Third Quarter Total Revenues

- German Tender for Exoskeletons with

Major Payors Initiated -

YOKNEAM ILIT, Israel / MARLBOROUGH, Mass. / BERLIN, Germany,

Nov. 13, 2019 (GLOBE NEWSWIRE) -- ReWalk Robotics Ltd. (Nasdaq: RWLK) ("ReWalk" or the "Company") today

announced its financial results for the three and nine months ended September 30, 2019.

Highlights of and subsequent to the

third quarter of 2019 include:

"Our progress with key German

ReWalk contracts and with very positive customer feedback after the first few weeks of ReStore's clinical use supports our

plans to grow this market and our top-line results especially as we look forward into FY 2020. We are confident about our strategic

approach in creating these new markets and see the path to our longer-term goals of building a breakeven sustainable entity"

said Larry Jasinski, Chief Executive Officer of ReWalk.

Third Quarter 2019 Financial Results

Total revenue was $1.2 million for the third quarter of 2019,

compared to $1.6 million during the prior year quarter. 12 ReWalk units were placed during the third quarter of 2019, compared

to 21 units in the prior year quarter. Nine ReWalk Personal units were placed in Europe, and three ReWalk Personal Units were placed

in the U.S., during the third quarter of 2019. Five ReStore units were placed during the third quarter in the U.S.

Gross margin was 53% during the third quarter of 2019, compared to 47% in the third quarter of 2018. The increase was primarily

attributable to higher average selling price due to a change in sales mix of our ReWalk Personal device and less costs related

to inventory write-off.

Total operating expenses in the third quarter of 2019 decreased

to $3.7 million, compared to $4.9 million in the prior year period mainly due to decreased costs associated with the development

and clinical study costs of our ReStore Exo-suit, and by lower personnel and personnel-related costs and consulting expenses as

result of our cost reduction efforts.

Net loss was $3.4 million for the third quarter of 2019, compared

to a net loss of $4.5 million in the third quarter of 2018.

Non-GAAP net loss for the third quarter of 2019 was $3.1 million,

compared with a non-GAAP net loss of $3.9 million in the third quarter of 2018. A reconciliation of net loss to non-GAAP net loss

is included at the end of this press release.

As of September 30, 2019, ReWalk had $20.4 million in cash on

its balance sheet and $7.9 million in short- and long-term debt.

ReWalk management will host its third quarter 2019 conference

The archived webcast will be available at https://edge.media-server.com/mmc/p/b7rmhiy2 and/or through the Company's website at www.rewalk.com under the "Investors" section for 30 days after

completion of the call.

About ReWalk Robotics Ltd.

ReWalk Robotics Ltd. develops, manufactures and markets wearable

robotic exoskeletons for individuals with lower limb disabilities as a result of spinal cord injury or stroke. ReWalk's mission

is to fundamentally change the quality of life for individuals with lower limb disability through the creation and development

of market leading robotic technologies. Founded in 2001, ReWalk has headquarters in the U.S., Israel and Germany. For more information

on the ReWalk systems, please visit www.rewalk.com.

ReWalk is a registered trademark of ReWalk Robotics Ltd.

in Israel and the United States.

ReStore is a registered trademark of ReWalk Robotics Ltd in Europe.

Forward-Looking Statements

In addition to historical information, this press release contains

forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the

U.S. Securities Act of 1933, and Section 21E of the U.S. Securities Exchange Act of 1934. Such forward-looking statements may include

projections regarding ReWalk's future performance and, in some cases, may be identified by words like "anticipate,"

"assume," "believe," "continue," "could," "estimate," "expect,"

"intend," "may," "plan," "potential," "predict," "project,"

"future," "will," "should," "would," "seek" and similar terms or phrases.

The forward-looking statements contained in this press release are based on management's current expectations, which are

subject to uncertainty, risks and changes in circumstances that are difficult to predict and many of which are outside of ReWalk's

control. Important factors that could cause ReWalk's actual results to differ materially from those indicated in the forward-looking

statements include, among others: ReWalk's ability to secure capital from its equity and debt financings in light of limitations

under its Form S-3, the price range of its ordinary shares and conditions in the financial markets, and the risk that such financings

may dilute ReWalk's shareholders or restrict its business; the risk of substantial dilution resulting from other periodic

issuances of ReWalk's ordinary shares, including pursuant to warrant exercises; the impact of substantial sales of ReWalk

shares by certain shareholders on the market price of ReWalk's ordinary shares; ReWalk's ability to maintain compliance

with the continued listing requirements of the Nasdaq Capital Market and the risk that its ordinary shares will be delisted if

it cannot do so; the risk of dilution following the recently-effected increase in authorized share capital; ReWalk's expectations

regarding future growth, including its ability to increase sales in its existing geographic markets, and to expand to new markets

and achieve its planned expense reductions; the conclusion of ReWalk's management and the opinion of ReWalk's auditors

in that there are substantial doubts as to ReWalk's ability to continue as a going concern; ReWalk's ability to maintain

and grow its reputation and the market acceptance of its products; ReWalk's ability to achieve reimbursement from third-party

payors for its products; ReWalk's limited operating history and its ability to leverage its sales, marketing and training

infrastructure; ReWalk's expectations as to its clinical research program and clinical results; ReWalk's ability to

improve its products and develop new products; ReWalk's ability to repay its secured indebtedness; the outcome of ongoing

shareholder class action litigation relating to ReWalk's initial public offering; ReWalk's compliance with medical

device reporting regulations to report adverse events involving its products and the potential impact of such adverse events on

ReWalk's ability to market and sell its products; ReWalk's ability to gain and maintain regulatory approvals; ReWalk's

expectations as to the results of, and the Food and Drug Administration's potential regulatory developments with respect

to, ReWalk's mandatory post-market 522 surveillance study and ReWalk's 510k submission for the ReStore for stroke patients;

ReWalk's ability to maintain adequate protection of its intellectual property and to avoid violation of the intellectual

property rights of others; the risk of a cybersecurity attack or breach of ReWalk's IT systems significantly disrupting our

business operations; ReWalk's ability to use effectively the proceeds of offerings of securities; ReWalk's ability

to establish a pathway to commercialize its products in China; ReWalk's ability to maintain relationships with existing customers

and develop relationships with new customers; the impact of the market price of ReWalk's ordinary shares on the determination

of whether ReWalk is a passive foreign investment company; and other factors discussed under the heading "Risk Factors"

in ReWalk's Annual Report on Form 10-K for the fiscal year ended December 31, 2018 filed with the U.S. Securities and Exchange

Commission (the "SEC") and other documents subsequently filed with or furnished to the SEC. Any forward-looking statement

made in this press release speaks only as of the date hereof. Factors or events that could cause ReWalk's actual results

to differ from the statements contained herein may emerge from time to time, and it is not possible for ReWalk to predict all of

them. Except as required by law, ReWalk undertakes no obligation to publicly update any forward- looking statements, whether as

a result of new information, future developments or otherwise.

Non-GAAP Financial Measures

To supplement its consolidated financial statements, which are

prepared and presented in accordance with U.S. Generally Accepted Accounting Principles (GAAP), ReWalk believes that the use of

non-GAAP accounting measures, including non-GAAP net loss, is helpful to its investors. These measures, which the Company refers

to as non-GAAP financial measures, are not prepared in accordance with GAAP.

For the three and nine months ended September 30, 2019 and 2018,

non-GAAP net loss is calculated as GAAP net loss excluding (i) non-cash share-based compensation expense, (ii) depreciation and

(iii) non-cash financial expenses.

Because of varying available valuation methodologies, subjective

assumptions, and the variety of equity instruments that can impact a company's non-cash expenses, ReWalk believes that providing

non-GAAP financial measures that exclude non-cash share-based compensation expense, depreciation and non-cash financial (income)