Lifeward (LFWD) AI Stock Analysis

• Market Cap: $11.71M
• Dividend Yield: N/A
• Average Volume (3M): 316.99K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.30
• 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: 0.81
• Enterprise Value/Revenue: 0.39
• Enterprise Value/Gross Profit: 1.03
• Enterprise Value/Ebitda: -0.59
• 1Y Price Target: $4.50
• Price Target Upside: 603.13% 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: $0.63 ▼(-1.41% Downside)

The score is held back primarily by persistent large losses and significant cash burn despite revenue growth. Earnings-call updates provide a partial offset via cost/cash-burn improvements and reaffirmed revenue guidance, while technicals are neutral-to-weak (below the 200-day) and valuation is constrained by negative earnings and no dividend support.

Positive Factors

Revenue growth

Sustained 27% TTM revenue growth indicates strengthening commercial traction for Lifeward’s exoskeleton and mobility products. Durable top-line momentum supports scaling of service and software streams, and underpins potential operational leverage as fixed costs spread across higher volumes.

Regulatory and payer access expansion

CE mark plus sequential Medicare Advantage prior authorizations and payer payments materially widen addressable market and improve reimbursement predictability. These structural gains (Europe ~40% of opportunity) and distribution deals enable capital-efficient international rollouts and more predictable cash flow over time.

Low financial leverage

Minimal debt exposure reduces solvency and refinancing risk, giving management flexibility to prioritize commercialization and patient-access investments without heavy interest burdens. Low leverage is a durable strength while the company executes its transformation.

Negative Factors

Severe cash burn

Persistent negative operating and free cash flow of roughly $17M TTM creates ongoing financing needs, raising dilution and execution risk. Without sustained cash-flow improvement or external capital, the company may have to curtail investments or repeatedly access costly funding, impairing long-term strategy.

Large, persistent losses

Despite improving revenue, deep operating and net losses indicate core profitability challenges: current gross margins are insufficient to cover scale-related and fixed operating costs. Protracted unprofitability erodes equity value and hampers the firm's ability to self-fund growth over the medium term.

Funding and dilution risk

Board-authorized reverse-split and capital increase flexibility, combined with a recent $3M secured, high‑interest convertible promissory note, signal reliance on dilutive or costly financing. This structural funding risk can compress returns, alter capital structure, and pressure long-term shareholder value if cash generation lags.

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

null

Lifeward Financial Statement Overview

Summary

Lifeward is experiencing strong revenue growth but faces significant profitability challenges. The company has a healthy balance sheet with a high equity ratio, though negative cash flows and earnings pose risks. Future improvements in operational efficiency are crucial for 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.

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.

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.

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: Positive
• Last Price: 0.64
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For LFWD, the sentiment is Positive. The current price of 0.64 is below the 20-day moving average (MA) of 0.65, above the 50-day MA of 0.62, and below the 200-day MA of 0.88, indicating a neutral trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 50.80 is Neutral, neither overbought nor oversold. The STOCH value of 72.28 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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%
LFWD	48 Neutral	$11.71M	-0.21	-127.95%	―	-2.02%	-32.93%
PAVM	45 Neutral	$7.21M	-0.42	20.03%	―	-99.28%	-46.16%
XAIR	44 Neutral	$7.64M	-0.13	-179.63%	―	147.74%	73.23%
CODX	41 Neutral	$12.82M	-0.21	-62.12%	―	-87.84%	29.16%
BMRA	38 Underperform	$8.49M	-1.88	-69.61%	―	-11.31%	47.64%
DHAI	37 Underperform	$6.70K	>-0.01	―	―	―	―

Lifeward Corporate Events

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.