Logo

LFWD

Lifeward Ltd.

LFWD

Lifeward Ltd. • NASDAQ
$0.58 ▲ 1.46% (+0.01)
Market Cap $9.14 M
52w High $4.00
52w Low $0.50
Dividend Yield 0%
P/E -0.2
Volume 134.76K
Outstanding Shares 15.70M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $6.195M ▲ $5.847M ▼ $-3.17M ▲ -51.17% ▲ $-0.2 ▲ $-3.051M ▲
Q2-2025 $5.724M ▲ $9.074M ▲ $-6.562M ▼ -114.64% ▼ $-0.58 ▼ $-3.692M ▲
Q1-2025 $5.034M ▼ $6.975M ▼ $-4.834M ▲ -96.027% ▲ $-0.46 ▲ $-4.702M ▼
Q4-2024 $7.545M ▲ $11.371M ▲ $-15.278M ▼ -202.492% ▼ $-1.73 ▼ $-4.468M ▼
Q3-2024 $6.128M $5.394M $-3.084M -50.326% $0.002 $-2.208M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $2.19M ▼ $23.168M ▼ $10.413M ▼ $12.755M ▼
Q2-2025 $5.139M ▼ $26.777M ▼ $11.667M ▲ $15.11M ▼
Q1-2025 $5.728M ▼ $28.809M ▼ $10.353M ▼ $18.456M ▼
Q4-2024 $6.943M ▼ $30.487M ▼ $11.638M ▼ $18.849M ▼
Q3-2024 $10.653M $45.77M $11.877M $33.893M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-3.17M ▲ $-3.842M ▲ $0 $646K ▼ $-3.163M ▼ $-3.842M ▲
Q2-2025 $-6.562M ▼ $-3.936M ▲ $0 ▲ $3.308M ▼ $-565K ▲ $-3.936M ▲
Q1-2025 $-4.834M ▲ $-5.493M ▼ $-5K ▼ $4.471M ▲ $-1.02M ▲ $-5.498M ▼
Q4-2024 $-15.278M ▼ $-3.969M ▲ $0 $0 $-3.906M ▲ $-3.969M ▲
Q3-2024 $-3.084M $-4.459M $0 $0 $-4.473M $-4.459M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Product
Product
 $10.00M ▲$0 ▼$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Lifeward looks like a very early-stage commercial company: revenue is still tiny and has barely grown over the past several years. The business consistently spends more on operating costs than it brings in, so operating losses and net losses have been steady and ongoing. Profitability is not in sight yet, and per‑share losses look large mainly because of past reverse splits that shrank the share count, not because of a sudden jump in economic loss. Overall, the financial story is still “R&D and market-building” rather than “scale and profits.”

Balance Sheet

Balance Sheet The balance sheet is small and lean. The company has no financial debt, which is a positive from a risk standpoint, but its total assets and equity base are also modest and have shrunk from earlier levels as losses accumulated. Cash once made up most of the asset base and has been drawn down over time, leaving less of a cushion. This combination—no debt but a thin equity and cash position—suggests limited room for error and likely dependence on future funding if losses continue at a similar pace.

Cash Flow

Cash Flow Cash flow mirrors the income statement: the core business consistently consumes cash. Operating cash flow has been negative for years, and because capital spending is minimal, free cash flow is similarly negative. The company is not burning cash on heavy equipment or factories; it is burning cash mainly on operating needs like R&D, staff, and commercialization. Sustaining the current strategy will likely require ongoing access to capital until revenue becomes much larger and margins improve.

Competitive Edge

Competitive Edge Commercially, Lifeward’s position relies more on its regulatory and clinical lead than on sheer financial strength. It has been an early mover in personal exoskeletons, with FDA and European approvals and growing reimbursement coverage, including Medicare and some private plans. These regulatory wins and coverage decisions create meaningful barriers to entry and support brand credibility. The acquisition of AlterG broadens its reach into clinics, rehab centers, and performance facilities, giving it a more complete rehabilitation ecosystem than many single-product rivals. The main competitive risk is execution: turning this strong positioning and clinical reputation into broad, profitable adoption before others catch up technologically or commercially.

Innovation and R&D

Innovation and R&D Innovation is clearly the core of the Lifeward story. The company has built a portfolio that spans hard exoskeletons, soft exo-suits, anti‑gravity treadmills, and FES cycling—covering multiple stages of rehabilitation and different patient needs. It is iterating steadily, as seen with the latest ReWalk generation adding connectivity and more personalized control. R&D spending has been rising relative to its small size, and management is exploring artificial intelligence to make devices more intuitive and easier to use. The opportunity is significant if these technologies become standard of care, but the path is inherently uncertain: clinical validation, user satisfaction, and payer acceptance will all need to line up for the R&D investment to fully pay off.

Summary

Lifeward is best viewed as a niche, innovation-focused medtech company that is still early in its commercial journey. Financially, it remains loss‑making with a small revenue base, ongoing cash burn, and a modest but debt‑free balance sheet—signs of a company still building scale rather than harvesting profits. Strategically, it has meaningful strengths: first‑mover status in personal exoskeletons, a differentiated portfolio across the rehab continuum, important regulatory approvals, and growing reimbursement coverage. The central questions from here are whether it can accelerate adoption of its devices, maintain its technological lead, and secure enough funding and operational efficiency to bridge the gap to sustainable profitability in a competitive and evolving rehabilitation market.

NEWS

November 17, 2025 · 8:00 AM UTC

UnitedHealthcare Medicare Advantage Plan Issues Prior Authorization Approval for a ReWalk 7 Personal Exoskeleton

Read more

November 14, 2025 · 8:00 AM UTC

Lifeward Ltd. Reports Third Quarter 2025 Financial Results

Read more

November 10, 2025 · 7:00 AM UTC

Lifeward to Report Third Quarter Financial Results on November 14, 2025

Read more

September 8, 2025 · 8:30 AM UTC

Lifeward Achieves CE Mark Approval for the ReWalk 7 Personal Exoskeleton

Read more