Lifeward Ltd. (NASDAQ: LFWD) will complete a 1‑for‑12 reverse share split on the opening of the market on February 24 2026. The split will combine every twelve outstanding shares into one, reducing the total number of shares from roughly 18.3 million to about 1.5 million. In anticipation of the new structure, the company has increased its authorized share capital to 100 million shares.
The primary purpose of the reverse split is to lift the per‑share price above Nasdaq’s minimum $1.00 threshold and preserve the company’s listing status. The split will also adjust the conversion ratios for Lifeward’s outstanding warrants, pre‑funded warrants, and stock options, ensuring that exercise prices remain proportionate to the new share count. The company’s board approved the split after shareholders voted on January 6 2026 to authorize the board to determine the ratio and amend the Articles of Association. The reverse split will not alter Lifeward’s underlying equity value or cash position, but it will affect the trading price and liquidity of the shares.
Lifeward’s liquidity situation remains tight. The company reported $2 million in unrestricted cash and cash equivalents as of September 30 2025, and a quarterly cash burn of $3.8 million. In Q3 2025 the company posted a net loss of $3.2 million ($0.20 per share), compared with a $3.1 million loss ($0.35 per share) in Q3 2024. Revenue for 2024 reached $25.7 million, an 85% increase from 2023, driven largely by growth in traditional products and services, which rose 24% year‑over‑year in Q3 2025. Revenue from 3G Products declined during the same period, highlighting a shift in the company’s product mix.
Management has emphasized operational efficiencies and cost discipline as key levers to improve the financial outlook. In its Q3 2025 earnings call, President and CEO Mark Grant highlighted steady progress across commercial execution, operations, and patient access, noting that since joining the company he has focused on simplifying operations, sharpening commercial priorities, and strengthening key processes. Chief Financial Officer Almog Adar reported a 16% reduction in quarterly cash burn and a 27% reduction in non‑GAAP operating loss compared with the prior year, driven by facility consolidations and other reduction initiatives. The company has also pursued strategic partnerships, including a funding arrangement with Oramed Ltd., and launched a “Lifeward 2025 Sustainable Growth Plan” aimed at balancing revenue growth with aggressive expense reduction.
The reverse split is the second such action in two years; Lifeward previously executed a 1‑for‑7 reverse split in March 2024. The recurrence underscores ongoing challenges in maintaining a share price above the Nasdaq minimum and reflects the company’s broader liquidity constraints. While the split addresses a technical compliance issue, it does not resolve underlying business challenges. Lifeward continues to advance its product portfolio, including the ReWalk Personal Exoskeleton and ReWalk 7 Personal Exoskeleton, and is working to expand market access through Medicare and European CE mark approvals. The company remains focused on securing additional financing to sustain operations and support its growth initiatives.
The announcement was met with a negative reaction from investors, reflecting concerns about Lifeward’s ongoing liquidity challenges and the need for additional financing to support its operations and product development.
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