Lifeward Ltd.

Listed Company

LFWDCIK 0001607962NasdaqNon-AcceleratedSmaller ReportingOrthopedic, Prosthetic & Surgical Appliances & SuppliesL3ILFY ends Dec 31

Period

FY 2025

Revenue

$22.03M

Net Income

$-19.91M

Total Assets

$22.90M

Equity

$8.41M

Shares Out

1.53M

Op. Cash Flow

$-16.80M

Business

Lifeward Ltd. designs, develops, and commercializes medical devices for physical rehabilitation and recovery, focusing on exoskeletons and anti‑gravity systems. Its products include ReWalk Personal and Rehabilitation exoskeletons for spinal cord injury, the ReStore soft exo‑suit for stroke rehabilitation, AlterG Anti‑Gravity systems, and MyoCycle FES cycles plus related consumables and services. Key segments comprise SCI products, stroke rehabilitation devices, AlterG facility systems, and distribution and aftermarket service offerings. It sells mainly in the United States and Europe and distributes through direct sales, third‑party distributors, clinics, hospitals, sports teams, and government payors.

Summary from filing dated 2025-03-07

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenue	22	26	14	6	6
Cost of revenue	14	17	9	4	3
Gross profit	8	8	4	2	3
Research and development, net	3	5	4	4	3
Sales and marketing	14	18	14	10	7
General and administrative	8	5	10	7	6
Impairment charges	3	10	0	0	—
Total operating expenses	28	38	28	21	16
Operating loss	−20	−29	−24	−19	−13
Financial (expense) income, net	−295,000	448,000	1	—	13,000
Loss before income taxes	−20	−29	−22	−19	−13
Taxes on income (benefit)	−55,000	43,000	−12,000	467,000	94,000
Net loss	−20	−29	−22	−20	−13
Net loss per ordinary share, basic	−17.16	−39.96	−31.13	−2.2	−0.27
Net loss per ordinary share, diluted	−17.16	−39.96	−31.13	−2.2	−0.27
Weighted average number of shares used in computing net loss per ordinary share, basic	1	724,272	710,941	9	48
Weighted average number of shares used in computing net loss per ordinary share, diluted	1	724,272	710,941	9	48

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	2	7	28	68	88
Restricted cash	240,000	197,000	0	—	—
Trade receivables, net of credit losses of $192 and $160, respectively	6	6	3	1	585,000
Prepaid expenses and other current assets	2	2	2	649,000	610,000
Inventories	6	7	6	3	3
Total current assets	16	21	39	73	93
Restricted cash and other long-term assets	209,000	240,000	784,000	694,000	1
Operating lease right-of-use assets	2	548,000	2	836,000	881,000
Property and equipment, net	585,000	867,000	1	196,000	284,000
Goodwill	5	8	8	0	—
Total long-term assets	7	9	24	2	2
Total assets	23	30	63	74	95
Trade payables	6	5	5	2	1
Employees and payroll accruals	1	1	2	1	1
Deferred revenue	920,000	1	2	301,000	316,000
Convertible promissory notes	3	0	—	—	—
Current maturities of operating leases liability	425,000	858,000	1	564,000	641,000
Earnout liability	0	608,000	576,000	0	—
Other current liabilities	859,000	1	1	685,000	555,000
Total current liabilities	12	10	12	5	4
Deferred revenues	1	1	2	890,000	866,000
Non-current operating leases liability	1	22,000	607,000	333,000	418,000
Other long-term liabilities	61,000	67,000	58,000	66,000	45,000
Total long-term liabilities	2	1	5	1	1
Total liabilities	14	12	17	6	5
COMMITMENTS AND CONTINGENT LIABILITIES	—	—	—	—	—
Ordinary share of NIS 1.75 par value-Authorized: 75,000,000 shares at December 31, 2025 and 25,000,000 shares at December 31, 2024; Issued: 1,572,319 and 781,854 shares at December 31, 2025 and December 31, 2024, respectively; Outstanding: 1,524,431 and 733,966 shares as of December 31, 2025 and December 31, 2024 respectively	9	5	4	4	5
Additional paid-in capital	287	282	281	280	279
Treasury Shares at cost, 47,888 ordinary shares at December 31, 2025 and December 31, 2024	−3	−3	−3	−2	0
Accumulated deficit	−285	−265	−236	−214	−194
Total shareholders' equity	8	19	47	68	89
Total liabilities and shareholders' equity	23	30	63	74	95

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation	333,000	494,000	239,000	202,000	266,000
Amortization of intangible assets	0	3	2	0	0
Impairment of intangible and tangible assets	3	10	0	0	—
Share-based compensation	743,000	1	1	993,000	833,000
Remeasurement of earnout liability	−608,000	−3	−315,000	0	0
Accrued interest	442,000	0	−11,000	—	—
Change in fair value of derivative liability	−197,000	0	0	—	—
Exchange rate fluctuations	−110,000	−34,000	−45,000	79,000	0
Trade receivables, net	−134,000	−3	−311,000	−408,000	99,000
Prepaid expenses and other assets	192,000	188,000	−656,000	94,000	592,000
Operating lease right-of-use assets	439,000	1	125,000	—	—
Inventories	896,000	−920,000	−277,000	−117,000	432,000
Trade payables	−347,000	−47,000	1	566,000	−884,000
Employees and payroll accruals	110,000	−702,000	−14,000	140,000	275,000
Deferred revenues	−419,000	−438,000	−269,000	−34,000	74,000
Operating lease liabilities	−731,000	−1	−144,000	—	—
Other liabilities	−304,000	−150,000	−829,000	−153,000	−391,000
Net cash used in operating activities	−17	−22	−21	−18	−11
Acquisition of a business, net of cash acquired	0	0	−18	0	0
Purchase of property and equipment	−16,000	0	−81,000	−25,000	−47,000
Net cash used in investing activities	−16,000	0	−18	−25,000	−47,000
Issuance of ordinary shares in a Registered Direct offering, net of issuance expenses in the amount of $558	4	0	0	0	28
Issuance of ordinary shares under at-the-market offering, net of issuance costs of $192	3	0	0	—	—
Issuance of ordinary shares in a public offering, net of issuance expenses in the amount of $432	2	0	0	—	—
Purchase of treasury shares	0	0	−992,000	−3	0
Proceeds from short term loan	1	0	0	—	—
Proceeds from bifurcated embedded derivatives	2	0	0	—	—
Net cash provided by (used in) financing activities	12	0	−992,000	−3	80
Effect of Exchange rate changes on Cash, Cash Equivalents and Restricted Cash	110,000	34,000	45,000	—	—
Decrease in cash, cash equivalents, and restricted cash	−5	−22	−40	−20	68
Classification of inventory to property and equipment, net	35,000	404,000	481,000	67,000	32,000
Expenses related to offerings not yet paid	473,000	0	0	142,000	0
ROU assets obtained from lease liabilities	1	193,000	513,000	0	0
Cash paid (received) for income taxes	36,000	−7,000	126,000	113,000	—
Cash received from interest	81,000	654,000	1	0	0

Filings

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