Lifeward (LFWD) AI Stock Analysis

• Market Cap: $11.07M
• Dividend Yield: N/A
• Average Volume (3M): 316.99K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.33
• Revenue Growth: -2.02%
• EPS Growth: -32.93%
• Country: US
• Employees: 80
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Devices
• EPS (TTM): -0.19
• Shares Outstanding: 18,293,776
• 10 Day Avg. Volume: 318,606
• 30 Day Avg. Volume: 316,993
• PEG Ratio: -0.02
• Price to Book (P/B): 0.80
• Price to Sales (P/S): 0.59
• P/FCF Ratio: -0.69
• Enterprise Value/Market Cap: 0.82
• Enterprise Value/Revenue: 0.37
• Enterprise Value/Gross Profit: 0.99
• Enterprise Value/Ebitda: -0.57
• 1Y Price Target: $4.50
• Price Target Upside: 650.00% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 48 Neutral
• Price Target: $0.65 ▲(8.83% Upside)

The score is held down primarily by very weak profitability and heavy cash burn despite solid revenue growth and low debt. Technicals are neutral with only modest improving momentum, and valuation is constrained by ongoing losses (negative P/E). Offsetting factors include operational improvements and guidance reaffirmation from the earnings call plus liquidity/strategic support from the Oramed-related financing and transactions, albeit with dilution and control-risk tradeoffs.

Positive Factors

Revenue growth & ReWalk demand

Sustained demand for ReWalk and 27% TTM revenue growth indicate durable product-market fit in rehabilitation and Medicare placements. Repeatable placements can drive recurring service and training revenue, support scale economies in production, and underpin margin improvement over months.

Very low financial leverage

A minimal debt burden materially reduces refinancing and solvency risk, providing financial flexibility to pursue operational improvements or M&A. Over a multi-month horizon, low leverage lowers fixed financing costs and preserves optionality while the company executes its transformation plan.

Transformative strategic partnership and capital access

The Oramed partnership is a structural shift: it adds a clinical-stage POD asset and meaningful committed capital, plus Oramed-funded clinical management. This diversifies Lifeward beyond devices, extends runway to profitability, and enables selective R&D investment without fully burdening Lifeward's cash.

Negative Factors

Severe operating cash burn

Persistent negative operating and free cash flow at this scale erodes liquidity and forces reliance on external financing. Over 2–6 months, heavy cash burn constrains investments, increases dilution or debt necessity, and raises execution risk if planned funding or operational improvements underperform.

Large, persistent operating losses

Despite revenue growth, outsized operating and net losses indicate core profitability issues. Structural losses reduce retained capital, limit ability to scale SG&A or R&D sustainably, and mean the business must materially improve margins or secure ongoing external funding to reach self-sustaining profitability.

Material dilution and costly financing terms

The financing structure and convertible/warrant coverage create substantial dilution risk and could transfer strategic control. Secured convertibles and milestone triggers also impose constraints on capital structure and future cash flow (royalty obligations), reducing long-term upside for existing shareholders.

Lifeward Business Overview & Revenue Model

Company Description

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 stand upright, walk, turn, and climb and descend stairs. Its products include ReWalk Exo-Suit and ReWalk Personal 6.0. The company was founded by Amit Goffer on June 20, 2001 and is headquartered in Marlborough, MA.

How the Company Makes Money

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Lifeward Financial Statement Overview

Summary

Revenue growth is strong (TTM ~$24.5M, +27%), and leverage is very low (debt-to-equity ~0.02). However, profitability and cash generation are the key weaknesses: EBIT margin ~-57%, net margin ~-122%, and TTM operating/free cash flow around -$17.2M, indicating substantial ongoing cash burn and funding pressure.

Income Statement

TTM (Trailing-Twelve-Months) revenue increased to ~$24.5M (+27% growth), showing improving demand versus earlier years. However, profitability remains very weak: gross margin is ~37% but operating losses are large (EBIT margin ~-57%) and the company is still deeply unprofitable (net margin ~-122%). Overall, growth is a clear positive, but the income statement is dominated by persistent, outsized losses.

Balance Sheet

Leverage is very low (TTM debt-to-equity ~0.02; total debt only ~$0.24M), which reduces refinancing and solvency risk. The key weakness is value erosion from ongoing losses, reflected in very negative returns on equity (TTM ROE ~-183%) and a sizeable decline in equity versus prior years. In short: balance sheet leverage is conservative, but continued losses are pressuring the capital base.

Cash Flow

Cash generation is a major concern: TTM operating cash flow is about -$17.2M and free cash flow is about -$17.2M, indicating the business is consuming cash to operate. Free cash flow also deteriorated sharply versus the prior period (TTM free cash flow growth ~-345%), signaling worsening cash burn dynamics. While free cash flow roughly tracks net losses (little non-cash cushioning), the ongoing and sizable outflows raise funding risk.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	24.50M	25.66M	13.85M	5.51M	5.97M	4.39M
Gross Profit	9.18M	8.22M	4.45M	1.91M	2.90M	2.19M
EBITDA	-15.91M	-24.93M	-21.77M	-18.90M	-12.39M	-11.73M
Net Income	-29.84M	-28.94M	-22.13M	-19.57M	-12.74M	-12.98M
Balance Sheet
Total Assets	23.17M	30.49M	63.19M	74.24M	94.75M	28.07M
Cash, Cash Equivalents and Short-Term Investments	2.19M	6.94M	28.08M	67.90M	88.34M	20.35M
Total Debt	237.00K	880.00K	1.90M	897.00K	1.06M	1.58M
Total Liabilities	10.41M	11.64M	16.68M	6.07M	5.37M	6.29M
Stockholders Equity	12.76M	18.85M	46.51M	68.17M	89.38M	21.77M
Cash Flow
Free Cash Flow	-17.25M	-21.72M	-20.75M	-17.92M	-11.52M	-12.66M
Operating Cash Flow	-17.24M	-21.72M	-20.67M	-17.89M	-11.47M	-12.59M
Investing Cash Flow	-5.00K	0.00	-18.15M	-25.00K	-47.00K	-73.00K
Financing Cash Flow	8.43M	0.00	-992.00K	-2.50M	79.51M	16.72M

Lifeward Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.60
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

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 0.6 is below the 20-day moving average (MA) of 0.66, below the 50-day MA of 0.64, and below the 200-day MA of 0.81, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 41.59 is Neutral, neither overbought nor oversold. The STOCH value of 15.61 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for LFWD.

Lifeward Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
PAVM	49 Neutral	$8.24M	-0.45	20.03%	―	-99.28%	-46.17%
LFWD	48 Neutral	$11.07M	-0.20	-127.95%	―	-2.02%	-32.93%
BMRA	47 Neutral	$7.17M	-1.54	-84.30%	―	-20.05%	41.89%
XAIR	45 Neutral	$9.53M	-0.16	-179.63%	―	147.74%	73.23%
CODX	44 Neutral	$4.98M	-0.08	-62.12%	―	-87.84%	29.16%
DHAI	37 Underperform	$2.09K	>-0.01	―	―	―	―

Lifeward Corporate Events

Lifeward Plans Shareholder Vote on Oratech Acquisition Deal

Lifeward has called an Extraordinary General Meeting of shareholders for March 12, 2026, in Hudson, Massachusetts, to vote on several corporate actions tied to a major strategic transaction and related governance and compensation matters. Shareholders will be asked to approve the issuance of ordinary shares to Oramed and certain investors in connection with Lifeward’s planned acquisition of Oratech and related financing instruments, a move that could give Oramed at least 45% and potentially more than 49.99% of the company’s voting power and may constitute a change of control under Nasdaq rules. The agenda also includes electing two external directors contingent on the closing of the Oratech acquisition, approving their compensation, increasing shares available under the 2025 Incentive Compensation Plan, granting equity to President and CEO Mark Grant, reappointing Ernst & Young affiliate Kost Forer Gabbay & Kasierer as independent auditor for 2026, and addressing any additional business that may arise at the meeting.

The most recent analyst rating on (LFWD) stock is a Hold with a $0.71 price target. To see the full list of analyst forecasts on Lifeward stock, see the LFWD Stock Forecast page.

Lifeward Forms Strategic Partnership and Financing Deal with Oramed

On January 12–13, 2026, Lifeward entered into a transformative strategic partnership and share purchase agreement with Oramed Pharmaceuticals under which Lifeward will acquire Oramed’s clinical-stage Protein Oral Delivery (POD™) technology via the purchase of Oratech, while Oramed will obtain up to a 49.99% equity stake in Lifeward through a mix of ordinary shares, pre-funded warrants and additional warrants. The structure, which is subject to shareholder and customary regulatory approvals and lock-up arrangements, also includes Oramed-funded clinical development of the POD™ platform, a 4% royalty on net sales of Lifeward’s ReWalk franchise for up to 10 years, and a parallel securities purchase agreement providing up to approximately $47 million of capital through senior secured convertible notes, milestone-based funding and warrant coverage, aimed at giving Lifeward a cash runway to profitability. The deal positions Lifeward as a diversified biomedical portfolio company, pairing its revenue-generating ReWalk and AlterG MedTech lines with exposure to large biotech markets through POD™, which targets the multi-hundred-billion-dollar injectable drug segment, including lead oral insulin candidate ORMD-0801; while the arrangement dilutes existing shareholders, it potentially strengthens Lifeward’s balance sheet, broadens its technology base and gives Oramed’s investors a stake in both medical robotics and prospective oral biologics.

The most recent analyst rating on (LFWD) stock is a Hold with a $0.62 price target. To see the full list of analyst forecasts on Lifeward stock, see the LFWD Stock Forecast page.

Lifeward Shareholders Approve Capital Structure and Split Flexibility

On January 6, 2026, Lifeward Ltd. held an Extraordinary General Meeting of Shareholders at which 41.7% of its outstanding ordinary shares were represented, constituting a quorum. Shareholders approved three key amendments to the company’s Articles of Association: they authorized the board to implement a reverse share split at a ratio between 1-for-2 and 1-for-12 at a future date of its choosing, conditionally approved an increase in authorized share capital if such a reverse split is effected, and agreed to eliminate the par value of the company’s ordinary shares, signaling a move to increase flexibility in the company’s capital structure and share management.

The most recent analyst rating on (LFWD) stock is a Hold with a $0.60 price target. To see the full list of analyst forecasts on Lifeward stock, see the LFWD Stock Forecast page.

Lifeward announces board chair transition and leadership change

On December 17, 2025, Lifeward Ltd. announced that Joseph Turk, a Class I director and chairperson of the Board of Directors, decided to step down from the Board, effective December 31, 2025, with the company emphasizing that his departure was not due to any disagreement over operations, policies or practices and expressing gratitude for his service. In connection with this leadership change, the Board approved the appointment of Robert J. Marshall Jr. as the new chairperson of the Board, effective January 1, 2026, signaling continuity in governance and an orderly transition at the top of the company’s board leadership.

The most recent analyst rating on (LFWD) stock is a Buy with a $4.50 price target. To see the full list of analyst forecasts on Lifeward stock, see the LFWD Stock Forecast page.

Lifeward Secures $3M Promissory Note with Oramed

On November 14, 2025, Lifeward Ltd. entered into a $3.0 million Secured Promissory Note with Oramed Ltd., providing additional capital support for its operations. The loan, which matures on May 14, 2026, is secured by a lien on Lifeward’s cash and carries a 15% annual interest rate. The agreement includes provisions for conversion into Lifeward’s ordinary shares and limits Oramed’s ownership to 4.99%. This financial move follows Lifeward’s record quarter for Medicare placements, improved operational efficiency, and strategic expansions, positioning the company for continued growth and enhanced patient access.

The most recent analyst rating on (LFWD) stock is a Buy with a $3.00 price target. To see the full list of analyst forecasts on Lifeward stock, see the LFWD Stock Forecast page.