Lifeward

LFWD

Medical - Devices · Healthcare

Price

$7.91

+0.07 (+0.89%)

Market Cap

$12.7M

Exchange

NASDAQ Capital Market

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Share count rising — dilution

+1934.5% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 570K (2021) → 11.6M (2025)

Lifeward Ltd. is a medical device company that makes robotic systems to help people with mobility disabilities walk again. Its main product is the ReWalk exoskeleton, a wearable robotic suit that straps onto a person's legs and helps them stand up and walk. The company sells primarily to rehabilitation hospitals, veterans' programs, and individual patients, mostly in the United States and Europe.

Lifeward earns money by selling its exoskeleton devices and through service and support contracts. The company is small, with a market cap near zero, and it operates at a significant loss — spending far more than it brings in each year. ReWalk was one of the first FDA-cleared powered exoskeletons for home use, which gives it a regulatory head start, but the company faces intense pressure to expand insurance coverage for its devices, since limited reimbursement from insurers remains the biggest barrier to wider adoption and a path to profitability.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-22.1% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-21.4% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$3M/ year

↓ Declining (-30% vs prior year)

14.7% of revenue

In line with sector average (18%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

3.3%ownership

Relatively low insider ownership

Cash Runway

~9 months

$11M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Short runway — potential dilution ahead through share issuance

Cash watch

Lifeward has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin

34.2%

Modest — 34.2% gross margin

Operating Margin

-263.5%

Losing money on operations — -263.5%

ROCE

-76.2%

Weak — -76.2% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales YoY

-17.7%

Shrinking sales (-17.7% YoY)

EPS YoY

N/A

—

Data not available

EPS Consistency

0/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

N/A

—

Data not available

FCF Margin

-71.8%

Burning cash (-71.8%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

Debt / Equity

1.16

Elevated debt (1.16)

Interest Cover

N/A

Data not available

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Valuation

P/E Ratio (TTM)

N/M

—

Negative earnings — P/E not meaningful

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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