LFWD

MKT CAP:$11M

Lifeward Ltd.

Market Cap

$11M

Healthcare·Medical - Devices·🇮🇱 Israel·NASDAQ

Healthcare·Medical - Devices·🇮🇱·NASDAQ

Stock Price

$7.65+$0.17 (+2.27%)

Apr 23, 2026

Company Details

Lifeward Ltd. is a medical device company, which engages in the design, development and marketing of wearable robotic exoskeletons. The firm's exoskeletons provide hip and knee motion to enable individuals with spinal cord injury (SCI) to s...

CEO

William Mark Grant

IPO Date

Sep 12, 2014

Website

golifeward.com

Key Metrics TTM

Revenue

$24M

-2.0% YoY

Net Income

-$30M

EPS (Diluted)

-$35.64

Free Cash Flow

-$17M

Revenue / Share

$18.36

Gross Margin

37.5%

Operating Margin

-98.3%

Net Margin

-121.8%

FCF Margin

-70.4%

P/S

0.4x

P/E

—

Earnings Reports

Q3 2025

Nov 14, 2025

$6M+1.1%EPS -$2.40

Q2 2025

Aug 14, 2025

$6M-14.7%EPS -$6.96

Q1 2025

May 15, 2025

$5M-4.7%EPS -$5.52

FY 2024

Mar 7, 2025

$26M+85.2%EPS -$39.96

Q4 2024

Mar 7, 2025

$8M+9.6%EPS -$20.76

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 21	$1M	$329.0K	-$4M
Q1 22	$876.0K	$265.0K	-$4M
Q2 22	$2M	$746.0K	-$4M
Q3 22	$886.0K	$221.0K	-$5M
Q4 22	$2M	$673.0K	-$5M
Q1 23	$1M	$571.0K	-$4M
Q2 23	$1M	$576.0K	-$5M
Q3 23	$4M	$863.0K	-$8M
Q4 23	$7M	$2M	-$6M
Q1 24	$5M	$1M	-$7M
Q2 24	$7M	$3M	-$4M
Q3 24	$6M	$2M	-$3M
Q4 24	$8M	$2M	-$10M
Q1 25	$5M	$2M	-$5M
Q2 25	$6M	$3M	-$7M
Q3 25	$6M	$3M	-$3M

Valuation

Quarter	P/S	P/E
Q4 21	—	—
Q1 22	12.9x	—
Q2 22	10.6x	—
Q3 22	12.3x	—
Q4 22	8.5x	—
Q1 23	7.0x	—
Q2 23	7.4x	—
Q3 23	5.0x	—
Q4 23	5.4x	—
Q1 24	2.4x	—
Q2 24	1.4x	—
Q3 24	1.1x	—
Q4 24	0.6x	—
Q1 25	0.8x	—
Q2 25	0.4x	—
Q3 25	0.5x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 21	-$3M	-$3M
Q1 22	-$6M	-$6M
Q2 22	-$4M	-$4M
Q3 22	-$5M	-$5M
Q4 22	-$4M	-$4M
Q1 23	-$5M	-$5M
Q2 23	-$4M	-$4M
Q3 23	-$7M	-$7M
Q4 23	-$4M	-$5M
Q1 24	-$8M	-$8M
Q2 24	-$6M	-$6M
Q3 24	-$4M	-$4M
Q4 24	-$4M	-$4M
Q1 25	-$5M	-$5M
Q2 25	-$4M	-$4M
Q3 25	-$4M	-$4M

Capital Expenditures

Quarter	CapEx
Q4 21	$19.0K
Q1 22	$3.0K
Q2 22	$15.0K
Q3 22	$7.0K
Q4 22	$0
Q1 23	$0
Q2 23	$0
Q3 23	$2.0K
Q4 23	$79.0K
Q1 24	$0
Q2 24	$0
Q3 24	$0
Q4 24	$0
Q1 25	$5.0K
Q2 25	$0
Q3 25	$0

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 22	+9.3%	+29.9%
Q3 22	-55.1%	+36.4%
Q4 22	+75.4%	+41.6%
Q1 23	+40.4%	+8.5%
Q2 23	-14.8%	+9.2%
Q3 23	+397.0%	+95.4%
Q4 23	+215.9%	+81.3%
Q1 24	+329.5%	+110.3%
Q2 24	+401.6%	+71.7%
Q3 24	+39.2%	-24.6%
Q4 24	+9.6%	+31.1%
Q1 25	-4.7%	-16.1%
Q2 25	-14.7%	+10.2%
Q3 25	+1.1%	+0.4%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 21	$234.0K	18.8%
Q1 22	$153.0K	17.5%
Q2 22	$173.0K	11.0%
Q3 22	$320.0K	36.1%
Q4 22	$347.0K	15.9%
Q1 23	$304.0K	24.7%
Q2 23	$318.0K	23.8%
Q3 23	$333.0K	7.6%
Q4 23	$373.0K	5.4%
Q1 24	$381.0K	7.2%
Q2 24	$376.0K	5.6%
Q3 24	$290.0K	4.7%
Q4 24	$234.0K	3.1%
Q1 25	$220.0K	4.4%
Q2 25	$182.0K	3.2%
Q3 25	$174.0K	2.8%

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q4 21	$696.0K	—	—	$3M
Q1 22	$907.0K	—	—	$4M
Q2 22	$956.0K	—	—	$4M
Q3 22	$1M	—	—	$5M
Q4 22	$1M	—	—	$5M
Q1 23	$752.0K	$2M	$2M	—
Q2 23	$816.0K	$2M	$3M	—
Q3 23	$1M	$3M	$4M	—
Q4 23	$1M	$2M	$5M	—
Q1 24	$1M	$2M	$5M	—
Q2 24	$1M	$2M	$4M	—
Q3 24	$998.0K	$240.0K	$4M	—
Q4 24	$1M	$2M	$4M	—
Q1 25	$918.0K	$2M	$4M	—
Q2 25	$767.0K	$2M	$4M	—
Q3 25	$721.0K	$2M	$3M	—

Revenue by Geography

Quarter	Asia Pacific	Europe	Rest Of World	United States	Germany
Q2 24	$214.0K	$2M	$336.0K	$4M	—
Q3 24	$150.0K	$2M	$101.0K	$3M	—
Q1 25	$42.0K	$1M	$447.0K	$3M	—
Q2 25	$124.0K	$2M	$435.0K	$3M	—
Q3 25	$103.0K	$627.0K	$229.0K	$4M	$1M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$83M	$0	$83M
Q2 22	$79M	$0	$79M
Q3 22	$74M	$0	$74M
Q4 22	$68M	$0	$68M
Q1 23	$62M	$0	$62M
Q2 23	$58M	$0	$58M
Q3 23	$33M	$0	$33M
Q4 23	$28M	$0	$28M
Q1 24	$21M	$0	$21M
Q2 24	$15M	$0	$15M
Q3 24	$11M	$0	$11M
Q4 24	$7M	$0	$7M
Q1 25	$6M	$0	$6M
Q2 25	$5M	$0	$5M
Q3 25	$2M	$0	$2M
Q4 25	$2M	$0	$2M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 21	743K	+34.1%	—
Q1 22	744K	+0.0%	—
Q2 22	744K	+0.1%	+35.6%
Q3 22	747K	+0.4%	+34.8%
Q4 22	734K	-1.8%	-1.3%
Q1 23	708K	-3.5%	-4.8%
Q2 23	708K	-0.0%	-4.8%
Q3 23	712K	+0.5%	-4.8%
Q4 23	715K	+0.4%	-2.7%
Q1 24	716K	+0.1%	+1.0%
Q2 24	717K	+0.2%	+1.3%
Q3 24	729K	+1.7%	+2.5%
Q4 24	734K	+0.6%	+2.7%
Q1 25	873K	+19.1%	+22.1%
Q2 25	935K	+7.1%	+30.4%
Q3 25	1M	+42.7%	+83.0%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q4 21	—	—
Q1 22	—	—
Q2 22	—	—
Q3 22	—	—
Q4 22	—	—
Q1 23	—	—
Q2 23	—	—
Q3 23	—	—
Q4 23	—	—
Q1 24	—	—
Q2 24	—	—
Q3 24	—	—
Q4 24	$94.3K	80
Q1 25	$62.9K	80
Q2 25	$71.5K	80
Q3 25	$77.4K	80

Revenue / Employee