Lifeward Ltd Financials
This page shows Lifeward Ltd (LFWD) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 14 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Lifeward’s business model currently looks like modest gross profit funding only part of the cost base, leaving it reliant on external capital.
In FY2025, gross profit dollars still rose to$8.4M from$8.2M even though revenue fell, so the year’s improvement was not volume-led. At the same time, operating cash burn eased to-$16.8M from-$21.7M , which suggests cost structure and mix, not scale, drove the better result.
The balance-sheet posture has shifted from cash-rich to cash-tight: cash fell to
Inventory and receivables together were
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Lifeward Ltd's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Lifeward Ltd scores -18.17, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($22.1M) relative to total liabilities ($14.5M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Lifeward Ltd passes 4 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
For every $1 of reported earnings, Lifeward Ltd generates $0.84 in operating cash flow (-$16.8M OCF vs -$19.9M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Lifeward Ltd earns $-63.1 in operating income for every $1 of interest expense (-$19.7M vs $312K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Lifeward Ltd generated $22.0M in revenue in fiscal year 2025. This represents a decrease of 14.1% from the prior year.
Lifeward Ltd's EBITDA was -$19.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 24.2% from the prior year.
Lifeward Ltd reported -$19.9M in net income in fiscal year 2025. This represents an increase of 31.2% from the prior year.
Lifeward Ltd earned $-17.16 per diluted share (EPS) in fiscal year 2025. This represents an increase of 57.1% from the prior year.
Cash & Balance Sheet
Lifeward Ltd generated -$16.8M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 22.5% from the prior year.
Lifeward Ltd held $2.2M in cash against $0 in long-term debt as of fiscal year 2025.
Lifeward Ltd had 2M shares outstanding in fiscal year 2025. This represents an increase of 107.7% from the prior year.
Margins & Returns
Lifeward Ltd's gross margin was 38.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 6.2 percentage points from the prior year.
Lifeward Ltd's operating margin was -89.3% in fiscal year 2025, reflecting core business profitability. This is up 25.1 percentage points from the prior year.
Lifeward Ltd's net profit margin was -90.4% in fiscal year 2025, showing the share of revenue converted to profit. This is up 22.4 percentage points from the prior year.
Lifeward Ltd's ROE was -236.8% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 83.3 percentage points from the prior year.
Capital Allocation
Lifeward Ltd invested $3.2M in research and development in fiscal year 2025. This represents a decrease of 29.8% from the prior year.
Lifeward Ltd invested $16K in capex in fiscal year 2025, funding long-term assets and infrastructure.
LFWD Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $3.9M-22.8% | $5.1M-18.0% | $6.2M+8.2% | $5.7M+13.7% | $5.0M-33.3% | $7.5M+23.1% | $6.1M-8.6% | $6.7M |
| Cost of Revenue | $2.6M-35.4% | $4.0M+14.5% | $3.5M+8.6% | $3.2M+10.3% | $2.9M-48.9% | $5.7M+45.9% | $3.9M-1.1% | $4.0M |
| Gross Profit | $1.3M+23.3% | $1.1M-59.8% | $2.7M+7.8% | $2.5M+18.3% | $2.1M+15.1% | $1.8M-16.9% | $2.2M-19.5% | $2.8M |
| R&D Expenses | $5.8M+593.4% | $843K+16.9% | $721K-6.0% | $767K-16.4% | $918K-18.8% | $1.1M+13.3% | $998K-17.2% | $1.2M |
| SG&A Expenses | $2.6M+12.6% | $2.3M+16.3% | $2.0M+12.6% | $1.7M-21.7% | $2.2M+25.4% | $1.8M+637.9% | $240K-84.9% | $1.6M |
| Operating Income | -$10.3M-102.0% | -$5.1M-63.0% | -$3.1M+52.2% | -$6.6M-35.2% | -$4.9M+68.1% | -$15.2M-379.8% | -$3.2M+28.6% | -$4.4M |
| Interest Expense | $416K | N/A | N/A | N/A | $0 | N/A | N/A | N/A |
| Income Tax | $6K+108.2% | -$73K-1142.9% | $7K | $0-100.0% | $11K+266.7% | $3K-89.7% | $29K+480.0% | $5K |
| Net Income | -$10.8M-101.8% | -$5.3M-68.7% | -$3.2M+51.7% | -$6.6M-35.7% | -$4.8M+68.4% | -$15.3M-395.4% | -$3.1M+28.3% | -$4.3M |
| EPS (Diluted) | $-6.70 | N/A | $-0.20+65.5% | $-0.58+89.5% | $-5.53 | N/A | $-0.35+30.0% | $-0.50 |
LFWD Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $33.4M+45.9% | $22.9M-1.2% | $23.2M-13.5% | $26.8M-7.1% | $28.8M-5.5% | $30.5M-33.4% | $45.8M-10.2% | $51.0M |
| Current Assets | $25.6M+61.7% | $15.8M-8.9% | $17.3M-16.2% | $20.7M+4.5% | $19.8M-6.9% | $21.3M-16.9% | $25.6M-13.6% | $29.6M |
| Cash & Equivalents | $11.4M+426.6% | $2.2M+10.9% | $2.0M-61.9% | $5.1M-10.3% | $5.7M-15.1% | $6.7M-36.7% | $10.7M-29.6% | $15.1M |
| Inventory | $6.3M+9.1% | $5.7M-19.4% | $7.1M-6.7% | $7.6M+12.1% | $6.8M+1.2% | $6.7M-7.9% | $7.3M+1.5% | $7.2M |
| Accounts Receivable | $5.7M-7.7% | $6.1M+0.2% | $6.1M+4.5% | $5.9M+13.5% | $5.2M-14.0% | $6.0M+2.8% | $5.8M+10.9% | $5.3M |
| Goodwill | $4.8M0.0% | $4.8M0.0% | $4.8M0.0% | $4.8M-36.9% | $7.5M0.0% | $7.5M0.0% | $7.5M0.0% | $7.5M |
| Total Liabilities | $27.1M+87.2% | $14.5M+39.2% | $10.4M-10.7% | $11.7M+12.7% | $10.4M-11.0% | $11.6M-2.0% | $11.9M-16.9% | $14.3M |
| Current Liabilities | $10.6M-11.7% | $12.0M+33.0% | $9.1M-12.6% | $10.4M+14.2% | $9.1M-11.3% | $10.2M+5.9% | $9.7M-3.1% | $10.0M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $6.3M-25.2% | $8.4M-34.1% | $12.8M-15.6% | $15.1M-18.1% | $18.5M-2.1% | $18.8M-44.4% | $33.9M-7.6% | $36.7M |
| Retained Earnings | -$295.5M-3.8% | -$284.7M-1.9% | -$279.4M-1.1% | -$276.2M-2.4% | -$269.7M-1.8% | -$264.8M-6.1% | -$249.5M-1.3% | -$246.5M |
LFWD Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$3.7M-3.4% | -$3.6M+7.5% | -$3.8M+2.4% | -$3.9M+28.3% | -$5.5M-38.4% | -$4.0M+11.0% | -$4.5M+20.6% | -$5.6M |
| Capital Expenditures | $0-100.0% | $11K | $0 | $0-100.0% | $5K | $0 | $0 | $0 |
| Free Cash Flow | -$3.7M-3.1% | -$3.6M+7.2% | -$3.8M+2.4% | -$3.9M+28.4% | -$5.5M-38.5% | -$4.0M+11.0% | -$4.5M+20.6% | -$5.6M |
| Investing Cash Flow | $6.5M+59190.9% | -$11K | $0 | $0+100.0% | -$5K | $0 | $0 | $0 |
| Financing Cash Flow | $6.4M+70.0% | $3.8M+484.8% | $646K-80.5% | $3.3M-26.0% | $4.5M | $0 | $0 | $0 |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
LFWD Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 34.2%+12.8pp | 21.4%-22.3pp | 43.7%-0.2pp | 43.9%+1.7pp | 42.1%+17.7pp | 24.4%-11.8pp | 36.2%-4.9pp | 41.1% |
| Operating Margin | -263.6%-162.8pp | -100.7%-50.0pp | -50.7%+64.0pp | -114.7%-18.3pp | -96.4%+105.4pp | -201.8%-150.0pp | -51.8%+14.4pp | -66.2% |
| Net Margin | -275.1%-169.9pp | -105.3%-54.1pp | -51.2%+63.5pp | -114.6%-18.6pp | -96.0%+106.5pp | -202.5%-152.2pp | -50.3%+13.8pp | -64.2% |
| Return on Equity | -171.6%-108.0pp | -63.6%-38.8pp | -24.9%+18.6pp | -43.4%-17.2pp | -26.2%+54.9pp | -81.1%-72.0pp | -9.1%+2.6pp | -11.7% |
| Return on Assets | -32.3%-8.9pp | -23.4%-9.7pp | -13.7%+10.8pp | -24.5%-7.7pp | -16.8%+33.3pp | -50.1%-43.4pp | -6.7%+1.7pp | -8.4% |
| Current Ratio | 2.40+1.1 | 1.31-0.6 | 1.92-0.1 | 2.00-0.2 | 2.18+0.1 | 2.08-0.6 | 2.65-0.3 | 2.97 |
| Debt-to-Equity | 4.31+2.6 | 1.72+0.9 | 0.82+0.0 | 0.77+0.2 | 0.56-0.1 | 0.62+0.3 | 0.35-0.0 | 0.39 |
| FCF Margin | -93.7%-23.5pp | -70.2%-8.2pp | -62.0%+6.7pp | -68.8%+40.5pp | -109.2%-56.6pp | -52.6%+20.2pp | -72.8%+11.0pp | -83.8% |
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Frequently Asked Questions
What is Lifeward Ltd's annual revenue?
Lifeward Ltd (LFWD) reported $22.0M in total revenue for fiscal year 2025. This represents a -14.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Lifeward Ltd's revenue growing?
Lifeward Ltd (LFWD) revenue declined by 14.1% year-over-year, from $25.7M to $22.0M in fiscal year 2025.
Is Lifeward Ltd profitable?
No, Lifeward Ltd (LFWD) reported a net income of -$19.9M in fiscal year 2025, with a net profit margin of -90.4%.
What is Lifeward Ltd's EBITDA?
Lifeward Ltd (LFWD) had EBITDA of -$19.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Lifeward Ltd's gross margin?
Lifeward Ltd (LFWD) had a gross margin of 38.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Lifeward Ltd's operating margin?
Lifeward Ltd (LFWD) had an operating margin of -89.3% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Lifeward Ltd's net profit margin?
Lifeward Ltd (LFWD) had a net profit margin of -90.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Lifeward Ltd's return on equity (ROE)?
Lifeward Ltd (LFWD) has a return on equity of -236.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Lifeward Ltd's free cash flow?
Lifeward Ltd (LFWD) generated -$16.8M in free cash flow during fiscal year 2025. This represents a 22.5% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Lifeward Ltd's operating cash flow?
Lifeward Ltd (LFWD) generated -$16.8M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Lifeward Ltd's total assets?
Lifeward Ltd (LFWD) had $22.9M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Lifeward Ltd's capital expenditures?
Lifeward Ltd (LFWD) invested $16K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Lifeward Ltd spend on research and development?
Lifeward Ltd (LFWD) invested $3.2M in research and development during fiscal year 2025.
What is Lifeward Ltd's current ratio?
Lifeward Ltd (LFWD) had a current ratio of 1.31 as of fiscal year 2025, which is considered adequate.
What is Lifeward Ltd's debt-to-equity ratio?
Lifeward Ltd (LFWD) had a debt-to-equity ratio of 1.72 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Lifeward Ltd's return on assets (ROA)?
Lifeward Ltd (LFWD) had a return on assets of -87.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Lifeward Ltd's cash runway?
Based on fiscal year 2025 data, Lifeward Ltd (LFWD) had $2.2M in cash against an annual operating cash burn of $16.8M. This gives an estimated cash runway of approximately 2 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Lifeward Ltd's Altman Z-Score?
Lifeward Ltd (LFWD) has an Altman Z-Score of -18.17, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Lifeward Ltd's Piotroski F-Score?
Lifeward Ltd (LFWD) has a Piotroski F-Score of 4 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Lifeward Ltd's earnings high quality?
Lifeward Ltd (LFWD) has an earnings quality ratio of 0.84x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Lifeward Ltd cover its interest payments?
Lifeward Ltd (LFWD) has an interest coverage ratio of -63.1x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Lifeward Ltd?
Lifeward Ltd (LFWD) scores 48 out of 100 on our Financial Health Score, indicating moderate standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.