Lifeward Ltd. LFWD
are a medical device company that designs, develops, and commercializes life-changing solutions that span the continuum of care in physical
rehabilitation and recovery, delivering proven functional and health benefits in clinical settings as well as in the home and community.
Our initial product offerings were the ReWalk Personal and ReWalk Rehabilitation Exoskeleton devices for individuals with spinal cord
injury ("SCI Products"). These devices are robotic exoskeletons that are designed for individuals with paraplegia that use
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.4M | $25.7M | $13.9M | $5.5M | $6.0M | $4.4M | $4.9M | $6.5M | $7.8M | $5.9M |
| Cost of revenue | $13.6M | $17.4M | $9.4M | $3.6M | $3.1M | $2.2M | $2.1M | $3.7M | $4.7M | $5.1M |
| Gross profit | $8.4M | $8.2M | $4.5M | $1.9M | $2.9M | $2.2M | $2.7M | $2.8M | $3.1M | $736.0K |
| R&D | $3.2M | $4.6M | $4.1M | $4.0M | $2.9M | $3.5M | $5.3M | $7.3M | $6.0M | $9.0M |
| SG&A | $8.2M | $5.2M | $10.0M | $7.1M | $5.6M | $5.0M | $5.3M | $6.8M | $7.7M | $8.2M |
| Total operating expenses | $28.1M | $37.6M | $28.1M | $21.0M | $15.6M | $14.2M | $16.8M | $22.0M | $25.1M | $31.2M |
| Operating income | -$19.7M | -$29.3M | -$23.6M | -$19.1M | -$12.7M | -$12.0M | -$14.0M | -$19.2M | -$22.0M | -$30.4M |
| Interest expense | $312.0K | $643.0K | $1.4M | $0 | $0 | — | — | — | — | — |
| Pre-tax income | -$20.0M | -$28.9M | -$22.1M | -$19.1M | -$12.6M | -$12.9M | -$15.5M | -$21.7M | -$24.6M | -$32.5M |
| Income tax | $55.0K | $43.0K | $12.0K | $467.0K | $94.0K | $51.0K | $7.0K | $5.0K | $119.0K | $3.0K |
| Net income | -$19.9M | -$28.9M | -$22.1M | -$19.6M | -$12.7M | -$13.0M | -$15.6M | -$21.7M | -$24.7M | -$32.5M |
| EPS, basic | -17.16 | -39.96 | -31.13 | -2.20 | -0.27 | -0.82 | — | — | — | — |
| EPS, diluted | -17.16 | -39.96 | -31.13 | -2.20 | -0.27 | -0.82 | -2.70 | -14.72 | -30.57 | -2.47 |
| Shares, diluted (wtd. avg.) | $1.2M | $724.3K | $710.9K | $8.9M | $47.9M | $15.8M | — | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $2.2M | $6.7M | $28.8M | $68.6M | $89.0M | $21.1M | $17.0M | $10.3M | $15.4M | $24.5M |
| Receivables | $6.1M | $6.0M | $3.1M | $1.0M | $585.0K | $684.0K | $794.0K | $758.0K | $1.1M | $1.3M |
| Inventory | $5.7M | $6.7M | $5.7M | $2.9M | $3.0M | $3.5M | $3.1M | $2.2M | $3.6M | $3.3M |
| Total current assets | $15.8M | $21.3M | $39.2M | $72.5M | $92.5M | $25.2M | $21.1M | $13.2M | $20.9M | $29.3M |
| Property, plant and equipment | $585.0K | $867.0K | $1.3M | $196.0K | $284.0K | $437.0K | $501.0K | $626.0K | $840.0K | $1.3M |
| Goodwill | $4.8M | $7.5M | $7.5M | $0 | — | — | — | — | — | — |
| Other intangibles | — | $0 | $12.5M | — | — | — | — | — | — | — |
| Total assets | $22.9M | $30.5M | $63.2M | $74.2M | $94.8M | $28.1M | $24.4M | $15.0M | $22.9M | $31.8M |
| Accounts payable | $5.6M | $5.0M | $5.1M | $1.9M | $1.4M | $2.3M | $2.7M | $2.3M | $1.8M | $3.4M |
| Short-term debt | — | — | — | — | — | — | $5.4M | $1.7M | $6.4M | $7.5M |
| Total current liabilities | $12.0M | $10.2M | $11.8M | $4.8M | $4.0M | $4.7M | $10.2M | $5.4M | $9.7M | $12.4M |
| Long-term debt | — | — | — | — | — | — | $1.5M | $7.0M | $8.9M | $10.5M |
| Total liabilities | $14.5M | $11.6M | $16.7M | $6.1M | $5.4M | $6.3M | $13.6M | $13.0M | $19.2M | $23.5M |
| Retained earnings | -$284.7M | -$264.8M | -$235.9M | -$213.8M | -$194.2M | -$181.4M | -$168.5M | -$152.9M | -$131.2M | -$106.5M |
| Total equity | $8.4M | $18.8M | $46.5M | $68.2M | $89.4M | $21.8M | $10.8M | $1.9M | $3.7M | $8.3M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$16.8M | -$21.7M | -$20.7M | -$17.9M | -$11.5M | -$12.6M | -$14.8M | -$14.8M | -$22.5M | -$26.7M |
| Depreciation and amortisation | $333.0K | $494.0K | $239.0K | $202.0K | $266.0K | $285.0K | $321.0K | $463.0K | $642.0K | $696.0K |
| Stock-based compensation | $743.0K | $1.3M | $1.3M | $993.0K | $833.0K | $749.0K | $1.1M | $2.8M | $3.7M | $3.4M |
| Capital expenditure | $16.0K | $0 | $81.0K | $25.0K | $47.0K | $73.0K | $22.0K | $13.0K | $21.0K | $452.0K |
| Investing cash flow | -$16.0K | $0 | -$18.1M | -$25.0K | -$47.0K | -$73.0K | -$22.0K | -$13.0K | -$21.0K | -$437.0K |
| Financing cash flow | $12.2M | $0 | -$992.0K | -$2.5M | $79.5M | $16.7M | $21.5M | $9.7M | $13.4M | $33.8M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001178913-26-001208.
Others in SIC 3842
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| ISRG | INTUITIVE SURGICAL INC | $129.55B | 46.6x | 20.5% |
| EW | Edwards Lifesciences Corp | $51.82B | 49.1x | 11.5% |
| STE | STERIS plc | $21.90B | 28.3x | 8.7% |
| ZBH | ZIMMER BIOMET HOLDINGS, INC. | $18.71B | 27.6x | 7.2% |
| ALGN | ALIGN TECHNOLOGY INC | $11.27B | 28.1x | 0.9% |
| MSA | MSA Safety Inc | $7.28B | 26.6x | 3.7% |
| ESTA | ESTABLISHMENT LABS HOLDINGS INC. | $2.21B | — | 27.1% |
| CDRE | Cadre Holdings, Inc. | $1.27B | 29.2x | 7.5% |