Here are a few analogies to describe Lifeward (LFWD):

• Boston Dynamics for medical mobility.
• Intuitive Surgical for physical rehabilitation.

• Exoskeleton Systems: Robotic devices that enable individuals with lower limb paralysis or weakness to stand, walk, and regain mobility.
• Anti-Gravity Treadmills: Specialized treadmills that use air pressure to unweight patients, facilitating pain-free rehabilitation and gait training at reduced body weight.
• Functional Electrical Stimulation (FES) Systems: Wearable devices that use electrical impulses to stimulate muscles, helping individuals regain control and improve function for conditions like foot drop or hand paralysis.
• Balance and Mobility Systems: Integrated systems designed to improve balance, strength, coordination, and overall functional independence for individuals recovering from injury or neurological conditions.

Lifeward (LFWD) primarily sells its medical devices, therapies, and services directly to individual patients in their homes, often based on prescriptions and referrals from healthcare providers. The company does not have major customer companies in the traditional B2B sense; rather, healthcare providers like physicians and hospitals refer patients to Lifeward for in-home care solutions.

Based on its focus on chronic conditions and in-home care, Lifeward serves the following key categories of individual customers:

1. Patients with Sleep and Respiratory Conditions: This category includes individuals diagnosed with obstructive sleep apnea who require Continuous Positive Airway Pressure (CPAP) or Bilevel Positive Airway Pressure (BiPAP) therapy, as well as those with chronic respiratory diseases needing oxygen therapy, nebulizers, or other respiratory support devices.
2. Patients with Diabetes: This category comprises individuals managing diabetes who utilize home-based solutions such as Continuous Glucose Monitoring (CGM) systems, insulin pumps, and related diabetes supplies.
3. Patients with Lymphedema and Chronic Venous Insufficiency: This category consists of individuals suffering from lymphedema (swelling due to lymphatic system dysfunction) and chronic venous insufficiency who require specialized pneumatic compression devices and other related therapies to manage their conditions.

Mark Grant, President & Chief Executive Officer

Mark Grant joined Lifeward as President and Chief Executive Officer in June 2025, bringing over 25 years of leadership experience in healthcare and medical technology. Prior to Lifeward, he held senior executive roles in general management, commercial leadership, and business development across various healthcare sectors. Grant spent nearly two decades at Medtronic, where he rose to Vice President of the Diabetes business. Immediately before joining Lifeward, he served as President of the Americas and Chief Commercial Officer at IMRA Surgical, where he was involved in global market expansion and played an integral role in raising capital.

Almog Adar, Chief Financial Officer

Almog Adar was appointed Chief Financial Officer in August 2025, having joined Lifeward in January 2020. He previously served as the company's Vice President of Finance and Chief Accounting Officer. Prior to Lifeward, Adar held positions as Controller of Infinya Recycling Ltd. (formerly Amnir Recycling) and Assistant Controller at Delta Galil Industries, gaining experience in complex financial management and global business operations. His earlier career included work at Ernst & Young, providing expertise in auditing and financial reporting for both public and private companies.

Miri Pariente, Vice President of Operations, Regulatory and Quality

Miri Pariente joined Lifeward (formerly ReWalk) in April 2013 as Global Director of Quality and has served as Vice President of Operations, Regulatory and Quality since February 2015. Her previous experience includes serving as Manager of Quality Assurance at NLT Spine Ltd. and ProAccess Medical Ltd., and holding multiple roles at American Medical Systems.

Jeannine Lynch, Vice President of Strategy and Market Access

Jeannine Lynch joined Lifeward in 2021, focusing on developing and implementing the company's market access and reimbursement programs. Before Lifeward, Ms. Lynch was Senior Director of Patient Access Services at BioMarin Pharmaceuticals. She has also held leadership roles in commercial management, product launches, and patient services at industry leaders such as Genentech and Pfizer/Agouron.

David Hexner, Vice President of Research and Development

David Hexner joined Lifeward (formerly ReWalk) in November 2011 and currently serves as Vice President of Research and Development, joining the management team in 2021. He played a key role in developing both the ReWalk Exoskeleton and the ReStore Exo-suit, initially as a Software and Algorithms Engineer, then as Program Manager and Director of Research and Development.

One clear emerging threat for Lifeward (LFWD) is the accelerating development of advanced, disruptive renal replacement therapies that aim to significantly reduce or eliminate the need for traditional dialysis methods. Specifically, this includes:

• Implantable or Wearable Artificial Kidneys: Various research institutions and companies are actively developing bio-artificial kidneys that could offer patients a more integrated, continuous, and less burdensome treatment compared to current in-center or home dialysis machines. Examples include The Kidney Project at the University of California, San Francisco, which is developing an implantable bio-artificial kidney, and companies like AWAK Technologies working on wearable peritoneal dialysis devices.

• Regenerative Medicine and Organ Engineering: While longer-term, ongoing advancements in cell-based therapies, gene editing, and the bioengineering of replacement organs could eventually render existing dialysis technologies obsolete by offering curative solutions or significantly superior alternatives for end-stage renal disease.

These emerging technologies represent a fundamental shift in the treatment paradigm for kidney failure, analogous to how the iPhone disrupted traditional mobile phones by offering a completely new form factor, user experience, and set of capabilities, or how Netflix's streaming model fundamentally altered media consumption compared to Blockbuster's physical rentals. If successful and scalable, such innovations could directly threaten Lifeward's core business in renal care by providing therapies that are significantly more convenient, effective, and transformative for patients.

The addressable markets for Lifeward's (LFWD) main products and services, which include exoskeletons, exo-suits, anti-gravity systems, and FES cycling therapy systems, can be understood within broader categories such as Complex Rehab Technology and Rehabilitation Equipment and Services.

• Complex Rehab Technology (CRT) Market: The global complex rehab technology market size was estimated at approximately USD 12.28 billion in 2024 and is projected to increase to about USD 23.76 billion by 2034, with a compound annual growth rate (CAGR) of 6.82% from 2025 to 2034. In North America, this market was valued at over USD 6.33 billion in 2024 and is expected to grow at a CAGR of 5.17% during the forecast period. The U.S. complex rehab technology market alone was approximately USD 5.27 billion in 2024 and is projected to reach around USD 8.26 billion by 2034, growing at a CAGR of 4.59% from 2025 to 2034.
• Rehabilitation Equipment Market: The global rehabilitation equipment market size was valued at USD 15.1 billion in 2024 and is anticipated to reach USD 23.7 billion by 2033, exhibiting a CAGR of 5.1% from 2025 to 2033. Another estimate places the global market at USD 18.32 billion in 2025, expected to grow to USD 25.94 billion by 2030 at a CAGR of 7.21%. North America held a significant share of 38.92% of the rehabilitation equipment market in 2024.
• Medical Rehabilitation Services Market: The global medical rehabilitation services market is estimated to be USD 200.1 billion in 2024 and is projected to reach USD 351.0 billion by 2033, growing at a CAGR of 6.4%. Another report states the global market size was approximately USD 269.91 billion in 2024 and is projected to reach USD 385.92 billion by 2030, with a CAGR of 6.1% from 2025 to 2030. North America is expected to lead this market, holding over 41.2% of the share in 2024.
• Powered/Electric Wheelchair Market: While not a direct product line, powered mobility devices address similar needs. The global powered wheelchair market is estimated to be USD 2.85 billion in 2025 and is expected to reach USD 4.37 billion by 2032, with a CAGR of 6.3% from 2025 to 2032. The global electric wheelchair market was valued at USD 5.89 billion in 2023 and is predicted to reach USD 11.26 billion by 2030, with a CAGR of 9.7% from 2024-2030. North America is a dominant region in the electric wheelchair market, holding 37.7% in 2024.

Lifeward (LFWD) anticipates several key drivers to fuel its revenue growth over the next 2-3 years:

1. Expanded Payer Coverage and Reimbursement: Lifeward is focused on accelerating commercial adoption by reducing approval times and expanding coverage with both Medicare and commercial insurers globally. This includes leveraging recent Medicare and commercial insurer wins, with a record number of ReWalk Medicare placements and an expanding U.S. payer base for the ReWalk Personal Exoskeleton. Favorable rulings, such as an Administrative Law Judge affirming the ReWalk Personal Exoskeleton as "reasonable and necessary" for Medicare beneficiaries, are expected to facilitate and accelerate claim processing and payment.
2. Launch and Adoption of New and Existing Products: The company expects growth from the continued rollout and adoption of its new ReWalk 7 exoskeleton, which received FDA clearance and launched in the U.S. in April 2025, showing positive customer feedback and initial installations. Additionally, while AlterG product and service revenue saw a temporary dip in Q2 2025 due to international delivery timing, a strong pipeline of high-probability leads is expected to support higher deliveries in the latter half of 2025, and enhancing the AlterG product line remains a strategic goal for 2025.
3. Growth and Conversion of Sales Pipeline: Lifeward has reported a healthy and expanding commercial pipeline across both its ReWalk and AlterG product lines. The ReWalk product line, in particular, has seen its third consecutive quarter of pipeline growth, with an 86% increase in active qualified leads in the U.S. since Q3 2024, indicating a strong potential for future sales conversions.
4. International Market Expansion: The company is focused on scaling global access for its products. International distribution, such as sales of ReWalk systems in Germany, has contributed to sequential revenue increases. Leveraging profitable operations in regions like Germany and forming strategic alliances are part of a broader effort to expand Lifeward's global reach and market presence.

Share Repurchases

• A share repurchase program was approved by an Israeli court on July 21, 2022, to repurchase up to $8.0 million of ordinary shares, scheduled to expire on January 20, 2023, or when $8.0 million in repurchases was reached.
• The board of directors approved an extension of the repurchase program on December 22, 2022, for an aggregate amount of up to $5.8 million, which was subsequently approved by an Israeli court on February 9, 2023.

Share Issuance

• Lifeward closed a public offering in June 2025, issuing 4,000,000 ordinary shares and accompanying warrants at a combined price of $0.65 per share and warrant, resulting in approximately $2.6 million in gross proceeds.
• The company raised $5 million in early January 2025, intending to use these funds to support the adoption of its Exoskeleton and AlterG products and improve liquidity.
• The number of Lifeward's shares outstanding increased by 14.46% in one year.

Capital Expenditures

• The financial guidance for the full year 2023, when the company was Össur (before the rebranding of ReWalk Robotics to Lifeward), included 3-4% CAPEX of sales.
• Lifeward designs, develops, and commercializes life-changing solutions, including ReWalk Exoskeletons, ReStore Exo-Suits, MyoCycle FES bikes, and AlterG Anti-Gravity systems, which implies ongoing capital expenditures related to product development and manufacturing capabilities.