Good afternoon, ladies and gentlemen, and welcome to the Q3 2018 ReWalk Robotics Ltd. Earnings Conference Call. At this time, all participants are in a listen-only mode. Later we will conduct a question-and-answer session. And instructions will follow at that time. [Operator Instructions] As a reminder, this conference is being recorded. I would now like to turn the conference over to your host, Ms. Ilanit Allen. Please go ahead.

Thank you, Ella. Good afternoon, and welcome to ReWalk Robotics Third Quarter 2018 Earnings Call. This is Ilanit Allen of In-Site Communications Investor Relations for ReWalk. With me on today's call are Larry Jasinski, Chief Executive Officer; and Ori Gon, Chief Financial Officer, of ReWalk. This afternoon, the company issued a press release detailing financial results for the 3 months ended September 30, 2018. This can be accessed through the Investor Relations section of the ReWalk website at rewalk.com, and you can also access the webcast of this call from there. Before we get started, I would like to remind everyone that any statements made on today's conference call that express a belief, expectation, projection, forecast, anticipation or intent regarding future events and the company's future performance may be considered forward-looking statements as defined by the Private Securities Litigation Reform Act. These forward-looking statements are based on information available to ReWalk management as of today and involve risks and uncertainties, including those noted in this afternoon's press release and ReWalk's filings with the SEC. Such forward-looking statements are not guarantees of future performance. Actual results may differ materially from those projected in the forward-looking statements. ReWalk specifically disclaims any intent or obligation to update these forward-looking statements except as required by law. A telephone replay of the call will be available shortly after completion of this call for the next two weeks. You'll find the dial-in information in today's press release. The archived webcast will be available for 1 year on the company's website rewalk.com. For the benefit of those who may be listening to the replay or archived webcast, this call was held and recorded on November 8, 2018. Since then, ReWalk may have made announcements related to the topics discussed, so please reference the company's most recent press releases and SEC filings. And with that, I'll turn the call over to ReWalk's CEO, Larry Jasinski.

Thank you, Ilanit. Good afternoon, everyone, and thank you for joining us. Since our last call, ReWalk has made significant progress on several important fronts, including R&D and reimbursement. Positive developments with insurance providers in both the U.S. and Germany suggest we should see increased coverage for the ReWalk exoskeleton for SCI patients as we end 2018 and head into 2019. At the end of October, we achieved a major milestone with our ReStore program, our new breakthrough product for stroke patients. We have completed patient enrollment in our ReStore clinical trial and have met the study accrual objectives. We are now moving to complete the clinical study data reports to support our 510(k) submission, and we are on track to file with the FDA around year-end. This positions us to potentially launch this unique design that can change and expand the exoskeleton stroke market as soon as early Q3 2019. We will advise the market once the FDA submission is under review by the agency. With regard to our ReWalk spinal cord injury product line, during the third quarter, we placed 22 ReWalk units, generating total revenue of $1.6 million. Coverage decisions in Germany are starting to bear fruit but are taking about one quarter longer than we expected to translate into rentals and sales. During the third quarter, we received 9 positive coverage decisions in Germany, the highest number we've seen in the past 18 months, and we expect to see more in the coming months. We are encouraged by the trend we are seeing and believe this will meaningfully contribute to growth in sales in the coming quarters. Demand from the system remains strong as request for authorizations among new applications under the American Health Care Act in the United States have averaged 25 per quarter and…

Thanks, Larry. Q3 revenue was $1.6 million due to the placement of 22 units. 11 units were placed in the U.S., 9 in Europe and 2 were placed in other markets. 8 units were purchased by the VA for their ongoing study, which brings the total number of units purchased by the VA for the study to 88 units. This number supports the progress the VA has made over the last 2 years with its SCI clinical study. During the quarter, we had 8 new rental purchase units placed and 3 previously rental units convert to purchase. We currently have 22 open trials, including 12 accidental and 10 claims which have completed their trial period and are awaiting the final insurance decision. As of the end of the third quarter of 2018, we had 226 pending insurance claims relating to coverage for ReWalk compared to 218 at the same time last year, reflecting an increase of 8 claims. This represents approximately $18 million in potential revenue. Our gross margin was 47.1% during the third quarter of 2018 compared to 40.9% in the prior year quarter. This 6.2% increase is driven by sales mix and lower product cost. This is also our highest gross margin to date, reflecting our continued focus on reducing product cost and improving margins. Total operating expenses for the quarter decreased to $4.9 million compared to $6.1 million in the prior year period. For the first 9 months of 2018, our operating expenses were $17.5 million compared to $18.9 million during the same period in 2017. This 8% reduction, together with our lower product cost, puts us on track to reduce our year-over-year operating expenses by up to 10% as planned in the beginning of the year. Net loss for the third quarter was $4.5 million compared to a net loss of $5.8 million in the third quarter of 2017. Our non-GAAP net loss was $3.8 million during the third quarter of 2018 compared to a non-GAAP net loss of $4.8 million in the prior year quarter. We ended the quarter with $5.2 million in cash. With that, I'd like to open the call for questions. Operator, please go ahead with the instructions.

[Operator Instructions] We have a question from the line of Brandon Benjamin a private investor. Your line is open. [Operator Instructions] And I'm showing no further questions at this time. I would now like to turn the conference back to Larry Jasinski for closing remarks.

I'd like to thank everybody for joining us today, and we look forward to speaking in the future. Have a great day. Thank you, and good night.

Ladies and gentlemen, this concludes today's conference. Thank you for your participation, and have a wonderful day. You may all disconnect.