Lifeward Ltd 8-K, filed Aug 14, 2026
Lifeward Ltd. (LFWD)
8-K
2026-08-14
For: 2026-08-10
View Original
Added on
August 14, 2026
About this 8-K
Lifeward Ltd filed this 8-K on August 14, 2026, reporting on events of August 10, 2026.
Items reported
- Item 2.02: Financial results
- Item 5.02: Director or officer change, or executive pay
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 10, 2026
(Exact name of registrant as specified in its charter)
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(State or Other Jurisdiction of Incorporation)
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(Commission File Number)
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(IRS Employer Identification No.)
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(Address of principal executive offices)
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(Zip Code)
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Registrant’s telephone number, including area code: +508 .251.1154
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Not applicable
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(Former name or former address, if changed since last report)
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Securities registered pursuant to
Section 12(b) of the Exchange Act |
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Trading Symbol
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Name of each exchange on which registered
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Check the appropriate box below if the Form 8-K
filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
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Written communications pursuant to Rule 425 under the
Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the
Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule
14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule
13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933
(§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operations and Financial Condition.
On August 14, 2026, Lifeward Ltd. (the “Company”) issued a press release announcing its financial results for the second quarter
ended June 30, 2026. A copy of the press release is being furnished herewith as Exhibit 99.1.
The information furnished pursuant to this Item 2.02, including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18
of the Securities Exchange Act of 1934, as amended (the “1934 Act”), nor shall it be deemed “incorporated by reference” into any filing under the Securities Act of 1933, as amended, or the 1934 Act, except as may be expressly set forth by
specific reference in such filing.
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Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officer.
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Resignation of Directors
On August 12, 2026, each of Robert J. Marshall, Jr., Michael Swinford and William Mark Sigsbee notified the Board of their decision
to step down from the Board, effective as of August 13, 2026. The departure of each of Messrs. Marshall, Swinford and Sigsbee did not result from any disagreement with the Company on any matter relating to its operations, policies or practices.
The Company extends its deepest gratitude to each of Messrs. Marshall, Swinford and Sigsbee for their distinguished service to the Board and lasting contributions to the Company.
Departure of Chief Financial Officer
On August 14, 2026, the Company announced that Almog Adar will step down as the Chief Financial Officer of the Company. Mr. Adar
will continue to serve in his existing role through September 30, 2026 to assist with a transition to a successor. For purposes of the separation benefits under his existing employment agreement, as amended, Mr. Adar’s departure will be treated
as a termination without cause. On August 10, 2026, the Company entered into a separation agreement with Mr. Adar providing for separation benefits substantially similar to those contemplated by Mr. Adar’s existing employment agreement. A copy of
Mr. Adar’s separation agreement will be filed as an exhibit to the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2026.
Item 9.01 Financial Statements and Exhibits.
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(d) Exhibits
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104
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Cover Page Interactive Data File (embedded within the Inline XBRL document).
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*
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Furnished herewith
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be
signed on its behalf by the undersigned hereunto duly authorized.
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Lifeward Ltd.
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Dated: August 14, 2026
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By:
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/s/ Almog Adar
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Name:
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Almog Adar
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Title:
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Chief Financial Officer
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Exhibit 99.1
Lifeward Reports Strong Second Quarter 2026 Financial Results as
Commercial Execution Drives Growth
Revenue increase and operating performance improve as capital-efficient distribution strategy gains
momentum
Strengthened balance sheet and expanding rehabilitation platform support continued commercial
execution
HUDSON, MA, and YOKNEAM ILLIT, Israel, August 14, 2026 – Lifeward Ltd. (Nasdaq: LFWD) (“Lifeward” or the “Company”), a diversified biomedical innovation company with a portfolio of
commercialized neurorehabilitation products and a biomedical pipeline, today reported financial results for the second quarter ended June 30, 2026.
Corporate & Financial Highlights
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Revenue increased 16% to $6.6 million in the second quarter of 2026 compared to the second quarter of 2025, marking the strongest quarterly revenue performance since the fourth quarter of 2024. The
increase reflects continued execution of Lifeward's commercial strategy and growing adoption across the Company's rehabilitation portfolio.
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Strengthened the Company's balance sheet to a proforma cash balance of approximately $11 million. The Company had a cash balance of $9.4 million as of June 30,
2026. Through a strategic financing closed on July 6, 2026, providing up to $11.2 million in growth capital, Lifeward raised approximately $5.6 million, $4.1 million of which was received during the second quarter, and $1.5 million was
received in July. An additional approximately $5.6 million is available upon achieving either a 150% increase in ReWalk sales or the Company's common stock trading at $13.80 or higher for ten consecutive trading days.
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Continued successful execution of Lifeward's capital-efficient distribution strategy, expanding patient access through established rehabilitation and durable medical equipment distribution partners
while building scalable commercial infrastructure designed to support portfolio growth. In August 2026, Lifeward launched a pilot program with Ottobock Care, a leading U.S. mobility technology patient care organization with more than 50
patient clinics nationwide, broadening access to ReWalk Personal Exoskeleton across the country.
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Further strengthened Lifeward's restorative healthcare platform, with ongoing investigational device development, combining market-leading rehabilitation technologies with an established
reimbursement infrastructure.
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Advanced the ORMD-0801 oral insulin clinical program, with preparations ongoing for the planned Phase 2 U.S. clinical trial. Clinical development activities continue to be managed by Oramed under the
strategic collaboration utilizing funds from the Oratech acquisition.
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Board composition. Effective August 13, 2026, the Company’s Chairman of the Board Bob Marshall and Directors Mike Swinford and William Sigsbee have decided to step down from the board. The Company
extends its gratitude to each of Messrs. Marshall, Swinford and Sigsbee for their service and lasting contributions to the Company.
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Executive transition. The Company’s Chief Financial Officer, Almog Adar, has decided to depart the Company effective September 30, 2026, and will assist with a transition period to his successor. The
Company extends its gratitude to Mr. Adar for his service and lasting contributions to the Company.
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"The second quarter marks another important milestone in Lifeward's transformation into a scaled restorative healthcare company, with revenue growth demonstrating that the strategy we have
implemented is working,” said Mark Grant, President and Chief Executive Officer of Lifeward. “Backed by a strong sales pipeline, we expect this revenue momentum to continue in the second half of 2026.”
"Over the past year, we have strengthened Lifeward’s restorative healthcare platform, which includes multiple commercial products, a strong reimbursement infrastructure, a scalable capital-efficient
distribution model and an exciting pipeline of potential future rehabilitation technologies. These capabilities create a powerful foundation that we believe will support sustainable long-term growth and expand access to life-changing technologies for
patients around the world."
"As part of the governance changes announced today, I am proud of what our team has accomplished together with the support and guidance of our board. We have established the strategy, strengthened
the balance sheet, built the commercial infrastructure and positioned the Company to capitalize on significant opportunities ahead."
Second Quarter 2026 Financial Results
Revenue increased 16% to $6.6 million in the second quarter of 2026, compared to $5.7 million in the second quarter of 2025. The $0.9 million increase was driven by a 13% increase in ReWalk Personal
exoskeletons sales to $2.5 million in the second quarter of 2026 compared to the same period in 2025, primarily reflecting stronger sales in Europe, and AlterG products and services which increased 25% to $4.1 million from the same period in 2025,
primarily reflecting higher U.S. unit shipments, service revenue and average selling prices. MyoCycle FES bike sales were $0.1 million, unchanged from the second quarter of 2025.
Gross margin was 41% during the second quarter of 2026, compared to 44% in the second quarter of 2025. The year-over-year decrease was primarily due to higher tariffs, fluctuations in foreign
exchange rates, and a 4% revenue sharing expense associated with the Oramed transaction.
Total operating expenses in the second quarter of 2026 declined 24% to $6.9 million, compared to $9.1 million in the second quarter of 2025, primarily due to $2.8 million of one-time impairment
charges recorded in the prior-year period. Excluding these charges, the year-over-year increase primarily reflected higher research and development expenses, including $0.7 million in Oratech clinical trial costs, partially offset by lower sales and
marketing and general and administrative expenses. On a non-GAAP basis, which excludes the items listed in the attached non-GAAP reconciliation table, adjusted operating expenses increased by 8% to $6.5 million in the second quarter of 2026, compared
to $6.0 million in the second quarter of 2025, with the year-over-year change primarily attributable to $0.7 million in Oratech clinical trial costs.
Operating loss declined by 37% in the second quarter of 2026 to $4.2 million, compared to $6.6 million in the second quarter of 2025, primarily due to $2.8 million of impairment charges recorded in
the second quarter of 2025 and lower sales and marketing and general and administrative expenses, partially offset by $0.7 million in Oratech clinical trial costs in the second quarter of 2026. On a non-GAAP basis, which excludes the items in the
attached non-GAAP reconciliation table, adjusted operating loss was $3.8 million in the second quarter of 2026, compared to $3.5 million in the second quarter of 2025, with the year-over-year change primarily attributable to $0.7 million in Oratech
clinical trial costs, partially offset by continued operating efficiencies, particularly in sales and marketing and general and administrative expenses.
Net loss was $11.5 million, or $4.12 per share, in the second quarter of 2026, compared to $6.6 million, or $7.01 per share, in the second quarter of 2025. Net loss increased by $4.9 million
primarily due to non-cash fair value charges in warrant and derivative liabilities, compared to the three months ended June 30, 2025. On a non-GAAP basis, which excludes the items in the attached non-GAAP reconciliation table, adjusted net loss was
$4.1 million in the second quarter of 2026, compared to $3.5 million in the second quarter of 2025, with the year-over-year change primarily attributable to $0.7 million in Oratech clinical trial costs.
Liquidity
As of June 30, 2026, Lifeward had $9.4 million in unrestricted cash and cash equivalents, compared to $2.2 million as of December 31, 2025. The proforma cash balance is approximately $11 million,
inclusive of $1.5 million in proceeds from the July 6, 2026 capital raise of $5.6 million, $4.1 million of which was received prior to June 30, 2026.
About Lifeward
Lifeward is a global innovator focused on advancing medical technologies and biomedical solutions that improve lives. The Company’s established portfolio includes market-leading neurorehabilitation
technologies such as the ReWalk® Exoskeleton, AlterG® Anti-Gravity system, MyoCycle® FES System, and ReStore® Exo-Suit. These solutions span the continuum of care in physical rehabilitation and recovery, deploying the most advanced robotics and AI
technologies to restore full health and quality of life to a broadening patient population. The Company is now executing a strategic evolution into a diversified biomedical company, expanding beyond rehabilitation and into high-value therapeutic
platforms. This includes its Protein Oral Delivery (POD™) platform, designed to enable oral delivery of biologic drugs, with lead candidate ORMD-0801 (oral insulin) targeting a large and underserved diabetes market.
Lifeward has operations in the United States, Israel, and Germany. For more information on the Lifeward mission and product portfolio, please visit GoLifeward.com.
Lifeward®, ReWalk®, ReStore® and Alter G® are registered trademarks of Lifeward Ltd. and/or its affiliates.
Forward-Looking Statements
In addition to historical information, this press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of
the U.S. Securities Act of 1933, and Section 21E of the U.S. Securities Exchange Act of 1934. Such forward-looking statements may include projections regarding the Company's future performance and other statements that are not statements of
historical fact and, in some cases, may be identified by words like "anticipate," "assume," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "future," "will," "should," "would," "seek"
and similar terms or phrases. The forward-looking statements contained in this press release are based on management's current expectations, which are subject to uncertainty, risks and changes in circumstances that are difficult to predict and many
of which are outside of the Company’s control. Important factors that could cause the Company’s actual results to differ materially from those indicated in the forward-looking statements include, among others: management’s expectations, hopes,
beliefs, intentions or strategies regarding the future including, without limitation, statements regarding: the future operations of Lifeward, including research and development activities; the nature, strategy and focus of Lifeward; Lifeward’s
ability to successfully integrate Oratech Pharmaceuticals Ltd. into its organization and realize the anticipated benefits therefrom; anticipated clinical drug development activities and related timelines, and other clinical results; the sufficiency
of post-transaction resources to support the advancement of Lifeward’s pipeline through certain milestones and the time period over which Lifeward’s post-transaction capital resources will be sufficient to fund its anticipated operations; unexpected
costs, charges or expenses resulting from the strategic transaction; expected timing and results of the ORMD-0801 clinical trial; legislative, regulatory, political and economic developments; the acceptance of the ReWalk 7 Personal Exoskeleton by
healthcare professionals and patients; uncertainties associated with future clinical trials and the clinical development process, the product development process and FDA regulatory submission review and approval process; the Company's ability to have
sufficient funds to meet certain future capital requirements, which could impair the Company's efforts to develop and commercialize existing and new products; the Company's ability to maintain and grow its reputation and the market acceptance of its
products; the Company's ability to achieve reimbursement from third-party payors, including CMS, for its products; the Company's limited operating history and its ability to leverage its sales, marketing and training infrastructure; the Company's
expectations as to its clinical research program and clinical results; the Company's expectations regarding future growth, including its ability to increase sales in its existing geographic markets and expand to new markets; the Company’s ability to
continue to operate as a going concern; the Company's ability to obtain certain components of its products from third-party suppliers and its continued access to its product manufacturers; the Company’s ability to navigate any difficulties associated
with moving production of its AlterG Anti-Gravity Systems to a contract manufacturer and transitioning the manufacturing of its ReWalk products to its in-house manufacturer; the Company's ability to improve its products and develop new products; the
Company's compliance with medical device reporting regulations to report adverse events involving the Company's products, which could result in voluntary corrective actions or enforcement actions such as mandatory recalls, and the potential impact of
such adverse events on the Company's ability to market and sell its products; the Company's ability to gain and maintain regulatory approvals; the Company's ability to maintain adequate protection of its intellectual property and to avoid violation
of the intellectual property rights of others; the risk of a cybersecurity attack or breach of the Company's IT systems significantly disrupting its business operations; the ability of a refreshed Board of Directors to effectively oversee and manage
the Company and execute its strategy; the Company's ability to use effectively the proceeds of its offerings of securities; and other factors discussed under the heading "Risk Factors" in the Company’s annual report on Form 10-K, as amended, for the
year ended December 31, 2025 filed with the SEC and other documents subsequently filed with or furnished to the SEC. Any forward-looking statement made in this press release speaks only as of the date hereof. Factors or events that could cause the
Company’s actual results to differ from the statements contained herein may emerge from time to time, and it is not possible for the Company to predict all of them. Except as required by law, the Company undertakes no obligation to publicly update
any forward-looking statements, whether as a result of new information, future developments or otherwise.
Contact:
Almog Adar
Chief Financial Officer
Lifeward
E: media@golifeward.com
E: ir@golifeward.com
E: ir@golifeward.com