ReWalk Robotics Reports Second Quarter 2019 Financial

ReWalk Robotics Reports Second Quarter 2019 Financial

- 2019 second quarter

total revenue of $0.9 million -

& CE clearance for ReStore Exo-Suit -

YOKNEAM ILIT, Israel / MARLBOROUGH, Mass., Aug.

08, 2019 (GLOBE NEWSWIRE) -- ReWalk Robotics Ltd. (Nasdaq: RWLK) ("ReWalk" or the "Company") today announced

its financial results for the three and six months ended June 30, 2019.

Highlights of and subsequent

to the second quarter of 2019 include:

"The second quarter included

several milestone achievements relating to the ReStore exo-suit, the first soft wearable robotic system for stroke patients, including

FDA & CE clearances, successful production, initiation of sales activities and delivery of the first system for stroke patients.

Broadening the foundation of the company with commercialization of a unique and disruptive technology into a second and much larger

market has been a key strategic objective of the company over the past three years and will be the basis for our future growth

in revenues" said Larry Jasinski, Chief Executive Officer of ReWalk. "Our ReWalk spinal cord injury product had an

uneven sales pattern this quarter, with many of the expected Q2 sales deferred into July. Importantly, with the second quarter

fundraising and continued expense management, we have strengthened our balance sheet and have helped to establish a financial runway

where we will work to demonstrate the potential and growth of our market changing products."

Second Quarter 2019 Financial

Total revenue was $0.9 million for the second quarter

of 2019, compared to $1.8 million during the prior year quarter. 13 ReWalk systems were placed during the second quarter of 2019,

compared to 21 systems in the prior year quarter. Nine ReWalk Personal units were placed in Europe, four in the U.S. and our first

ReStore unit was placed during the second quarter.

Gross margin was 50% during the second quarter of 2019,

compared to 43% in the second 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.

Total operating expenses in the second quarter

of 2019 decreased to $4.7 million, compared to $6.0 million in the prior year period.

Net loss was $4.6 million for the second

quarter of 2019, compared to a net loss of $5.8 million in the second quarter of 2018.

Non-GAAP net loss for the second quarter of 2019

was $4.2 million, compared with a non-GAAP net loss of $4.7 million in the second quarter of 2018. A reconciliation of net loss

to non-GAAP net loss is included at the end of this press release.

As of June 30, 2019, ReWalk had $24 million in cash

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

ReWalk management will host its second quarter 2019

conference call as follows:

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

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 six months ended June 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.