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Lifeward (LFWD)
NASDAQ:LFWD
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Lifeward
(NASDAQ:LFWD)
43Neutral
Positive Factors
Long-term growth potential
Robust pipeline bodes well for long-term growth.
Negative Factors
Earnings performance
The company reported a net loss of $1.73 per share, compared to consensus estimated net loss of $0.31 per share.
Revenue performance
Q3 turned out to not be the record quarter the company anticipated on the Q2 call as revenue of $6.1M significantly missed our $8.5M expectation.
Lifeward (LFWD) vs. S&P 500 (SPY)
Market Cap
$13.93M
Dividend YieldN/A
Average Volume (3M)1.12M
Price to Earnings (P/E)―
Beta (1Y)1.66
Revenue Growth85.24%
EPS Growth-27.93%
CountryUS
Employees108
SectorHealthcare
Sector Strength78
IndustryMedical Equipment & Supplies
Share Statistics
EPS (TTM)-3.32
Shares Outstanding10,630,281
10 Day Avg. Volume194,490
30 Day Avg. Volume1,121,798
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)0.54
Price to Cash Flow (P/CF)-0.90
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$9.00Price Target Upside520.69% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
Lifeward Business Overview & Revenue Model
Company DescriptionReWalk Robotics Ltd. engages in the design, development and marketing of wearable robotic exoskeletons. Its exoskeletons provide hip and knee motion to enable individuals with spinal cord injury (SCI) to stand upright, walk, turn, and climb and descend stairs. The firm's systems include ReWalk Rehabilitation and ReWalk Personal 6.0. The company was founded by Amit Goffer on June 20, 2001 and is headquartered in Yokneam Ilit, Israel.
How the Company Makes MoneyRewalk Robotics generates revenue primarily through the sale of its exoskeleton products to rehabilitation centers, hospitals, and individual users. The company also earns income from service contracts and maintenance fees associated with these devices. Additionally, Rewalk benefits from partnerships with healthcare providers and research institutions, which can lead to sales opportunities and funding for further development. The company's earnings are also supported by reimbursements from insurance companies in certain regions, which cover the cost of its exoskeletons for eligible patients.
Lifeward Financial Statement Overview
Summary
Lifeward's financial performance is mixed, with strong revenue growth but persistent profitability challenges. The company has a robust balance sheet with low debt-to-equity ratio, yet negative cash flows and net losses raise concerns about financial sustainability.Income Statement
Lifeward's revenue has shown strong growth, from $4.4 million in 2020 to $25.7 million in 2024, marking a significant upward trajectory. However, the company has consistently posted negative EBIT and net income, indicating operational inefficiencies and challenges in achieving profitability. The gross profit margin is improving but remains offset by high operating expenses.35
Negative
Balance Sheet
The company has a healthy stockholders' equity position, which is significantly higher than its total liabilities, resulting in a low debt-to-equity ratio. However, the return on equity is negative due to consistent net losses, highlighting a risk of financial instability despite the strong equity base.45
Neutral
Cash Flow
Lifeward experiences negative operating and free cash flow, indicating reliance on external financing for operations. The free cash flow growth rate is negative, showing challenges in converting revenue to cash. Cash flow ratios to net income are unfavorable, reflecting operational cash deficits.40
Negative
| Breakdown | |||||
| TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 25.00M | 25.66M | 13.85M | 5.51M | 5.97M | 4.39M | Gross Profit |
| 7.82M | 8.22M | 4.45M | 1.91M | 2.90M | 2.19M | EBIT |
| -20.26M | -19.55M | -23.61M | -19.10M | -12.65M | -12.00M | EBITDA |
| -17.22M | -19.55M | -21.77M | -18.90M | -12.39M | -11.73M | Net Income Common Stockholders |
| -19.30M | 448.00K | -22.13M | -19.57M | -12.74M | -12.98M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 88.34M | 0.00 | 28.08M | 67.90M | 88.34M | 20.35M | Total Assets |
| 94.75M | 0.00 | 63.19M | 74.24M | 94.75M | 28.07M | Total Debt |
| 1.06M | 880.00K | 1.90M | 897.00K | 1.06M | 1.58M | Net Debt |
| -87.28M | 880.00K | -26.18M | -67.00M | -87.28M | -18.77M | Total Liabilities |
| 5.37M | 1.41M | 16.68M | 6.07M | 5.37M | 6.29M | Stockholders Equity |
| 89.38M | 18.85M | 46.51M | 68.17M | 89.38M | 21.77M |
| Cash Flow | Free Cash Flow | ||||
| -22.31M | -21.72M | -20.75M | -17.92M | -11.52M | -12.66M | Operating Cash Flow |
| -22.23M | -21.72M | -20.67M | -17.89M | -11.47M | -12.59M | Investing Cash Flow |
| -79.00K | 0.00 | -18.15M | -25.00K | -47.00K | -73.00K | Financing Cash Flow |
| 0.00 | 0.00 | -992.00K | -2.50M | 79.51M | 16.72M |
Lifeward Technical Analysis
Negative
1.45
Price Trends
1.74
Negative
1.90
Negative
2.83
Negative
Market Momentum
-0.06
Positive
42.80
Neutral
26.03
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For LFWD, the sentiment is Negative. The current price of 1.45 is below the 20-day moving average (MA) of 1.76, below the 50-day MA of 1.74, and below the 200-day MA of 2.83, indicating a bearish trend. The MACD of -0.06 indicates Positive momentum. The RSI at 42.80 is Neutral, neither overbought nor oversold. The STOCH value of 26.03 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for LFWD.
Lifeward Risk Analysis
Lifeward disclosed 60 risk factors in its most recent earnings report. Lifeward reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Lifeward Peers Comparison
Overall Rating
UnderperformOutperform
Sector (49)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | $7.57B | 17.90 | 198.42% | ― | 22.44% | 63.47% | |
72 Outperform | $2.28B | 66.97 | 19.39% | ― | 82.74% | ― | |
61 Neutral | $218.94M | ― | -43.28% | ― | -3.92% | -18.67% | |
54 Neutral | $195.15M | ― | -36.69% | ― | 69.17% | 39.01% | |
49 Neutral | $6.90B | -0.08 | -53.01% | 2.43% | 24.84% | -3.06% | |
43 Neutral | $13.93M | ― | -88.56% | ― | 85.24% | -27.93% |
* Healthcare Sector Average
Performance Comparison
LFWD
Lifeward
1.45
-3.59
-71.23%
HALO
Halozyme
61.45
19.50
46.48%
NVRO
Nevro Corp
5.78
-8.88
-60.57%
MYO
Myomo
5.87
2.07
54.47%
TMDX
TransMedics Group
67.65
-17.05
-20.13%
Lifeward Earnings Call Summary
Earnings Call Date: Mar 7, 2025 | % Change Since: -8.23% | Next Earnings Date: May 8, 2025
Earnings Call Sentiment Neutral
The earnings call highlighted significant revenue growth and strategic partnerships, coupled with operational improvements. However, challenges such as ReWalk sales not meeting expectations, a decrease in gross margin, and financial health concerns tempered the positive aspects.Highlights
Record Revenue Achievement
Lifeward reported record quarterly revenue of $7.5 million in Q4 2024, contributing to an 85% annual revenue growth for the year, reaching $25.7 million.
Operational Efficiency Improvements
The company increased operating efficiency by closing two locations and reducing headcount by 35% as part of their sustainable growth plan.
Strategic Partnerships and Market Expansion
Lifeward entered a meaningful contract with BARMER in Germany, expanded MyoCycle distribution rights, and launched a national accounts program for AlterG.
New Product Launches
The company launched a new generation of AlterG (NEO product) and completed FDA usability studies for ReWalk 7.
Lowlights
ReWalk Sales Below Expectations
ReWalk sales were below expectations due to delays and attrition in Medicare cases, impacting overall sales performance.
Gross Margin Decline
GAAP gross margin decreased to 24.4% in Q4 2024 from 35.5% in Q4 2023, primarily due to restructuring charges.
Impairment Charge
A $9.8 million impairment charge on intangible assets was recorded, impacting GAAP operating expenses.
Going Concern Qualification
The auditors issued a going concern qualification, reflecting concerns about the adequacy of Lifeward's balance sheet to fund its business.
Company Guidance
In the Lifeward Inc. fourth quarter 2024 earnings call, the company provided guidance for 2025, highlighting key metrics and strategic directions. Lifeward expects full-year revenue to range between $28 million and $30 million, with an adjusted gross margin between 47% and 49%. The company aims to reduce full-year non-GAAP operating expenses to $22 million to $23 million, down from $27.5 million in 2024, driving a non-GAAP operating loss of $7 million to $9 million. The focus for 2025 includes achieving a quarterly operating loss at or below $1 million by Q4, driven by targeted growth in high-margin opportunities and operating efficiencies. The strategic initiatives for 2025 involve expanding ReWalk placements with CMS, penetrating the workers' compensation market, and enhancing distribution for the MyoCycle and AlterG products. The company also plans to implement a sustainable growth plan to optimize product mix, reduce costs, and maintain disciplined spending to reach its financial goals.Lifeward Corporate Events
Executive/Board Changes
Rewalk Robotics CEO Larry Jasinski to Step Down
Neutral
Feb 20, 2025
On February 19, 2025, Rewalk Robotics announced that Larry Jasinski will step down as CEO and board member by the end of the second quarter of 2025. Jasinski’s departure will be considered a termination without cause, and the company plans to finalize a separation agreement with him before his exit.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.