Wearable Devices Ltd. (WLDS) 10-Year Financial Performance & Capital Metrics

WLDS • • Industrial / General

TechnologyConsumer ElectronicsWearable TechnologyAugmented Reality Devices

AboutWearable Devices Ltd. engages in developing a non-invasive neural input interface for controlling digital devices using subtle finger movements. The company offers Mudra Inspire development kits that enables users to control digital devices through finger movements and hand gestures. These digital devices include consumer electronics, smart watches, smartphones, augmented reality glasses, virtual reality headsets, televisions, personal computers and laptop computers, drones, robots, etc. It serves consumer electronics companies, industrial companies, information technology and software solutions providers, software development studios, and academia and research universities, as well as consumers from B2C market. The company was incorporated in 2014 and is based in Yokneam Illit, Israel.Show more

Revenue $522K +536.6%
EBITDA -$8M +5.0%
Net Income -$8M -0.8%
EPS (Diluted) -24.19 +37.0%
Gross Margin 16.28% -33.2%
EBITDA Margin -1477.59% +85.1%
Operating Margin -1498.08% +85.0%
Net Margin -1509.39% +84.2%
ROE -167.89% -66.6%
ROIC -164.19% +32.3%
Debt/Equity 0.28 +169.4%
Interest Coverage -150.38

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong 5Y sales CAGR of 16.6%
✓Share count reduced 19.6% through buybacks
✓Trading at only 0.1x book value

✗Weaknesses

✗Weak Piotroski F-Score: 3/9
✗Negative free cash flow
✗Weak momentum: RS Rating 12 (bottom 12%)
✗Trading more than 30% below 52-week high
✗Low asset turnover indicates capital-intensive operations

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y16.62%

3Y54.33%

TTM863.04%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-25.44%

EPS CAGR

10Y-

5Y-

3Y-

TTM-4961.96%

ROCE

10Y Avg-171.35%

5Y Avg-171.35%

3Y Avg-122.23%

Latest-161.49%

Peer Comparison

Augmented Reality Devices

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
WLDSWearable Devices Ltd.	10.12M	1.17	-0.05	5.37%	-17.51%	-406.82%		0.28
VUZIVuzix Corporation	265.22M	3.31	-3.06	-52.56%	-7.03%	-98.49%		0.01

Profit & Loss

	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	242K	57K	142K	45K	82K	522K
Revenue Growth %	-	-0.76%	1.49%	-0.68%	0.82%	5.37%
Cost of Goods Sold+	21K	9K	15.5K	25.33K	62K	437K
COGS % of Revenue	0.09%	0.16%	0.11%	0.56%	0.76%	0.84%
Gross Profit+	221K	48K	126.5K	19.67K	20K	85K
Gross Margin %	0.91%	0.84%	0.89%	0.44%	0.24%	0.16%
Gross Profit Growth %	-	-0.78%	1.64%	-0.84%	0.02%	3.25%
Operating Expenses+	1.17M	1.2M	2.7M	5.57M	8.21M	7.91M
OpEx % of Revenue	4.83%	21.12%	19%	123.86%	100.07%	15.14%
Selling, General & Admin	383K	461K	1.29M	3.31M	4.89M	4.94M
SG&A % of Revenue	1.58%	8.09%	9.07%	73.56%	59.63%	9.47%
Research & Development	787K	743K	1.41M	2.26M	3.32M	2.96M
R&D % of Revenue	3.25%	13.04%	9.94%	50.3%	40.44%	5.68%
Other Operating Expenses	0	0	0	0	0	0
Operating Income+	-949K	-1.16M	-2.57M	-5.55M	-8.19M	-7.82M
Operating Margin %	-3.92%	-20.28%	-18.11%	-123.42%	-99.83%	-14.98%
Operating Income Growth %	-	-0.22%	-1.22%	-1.16%	-0.47%	0.04%
EBITDA+	-942K	-1.15M	-2.56M	-5.53M	-8.12M	-7.71M
EBITDA Margin %	-3.89%	-20.16%	-18.04%	-122.91%	-99%	-14.78%
EBITDA Growth %	-	-0.22%	-1.23%	-1.16%	-0.47%	0.05%
D&A (Non-Cash Add-back)	7K	7K	11K	23K	68K	107K
EBIT	-949K	-1.16M	-2.61M	-6.46M	-8.19M	-7.82M
Net Interest Income+	-28K	-102K	55K	-38K	372K	-52K
Interest Income	0	0	55K	0	372K	0
Interest Expense	28K	102K	0	38K	0	52K
Other Income/Expense	-28K	-102K	55K	-38K	372K	-52K
Pretax Income+	-977K	-1.26M	-2.61M	-6.5M	-7.81M	-7.87M
Pretax Margin %	-4.04%	-22.07%	-18.41%	-144.36%	-95.29%	-15.08%
Income Tax+	0	0	0	0	0	7K
Effective Tax Rate %	1%	1%	1%	1%	1%	1%
Net Income+	-977K	-1.26M	-2.61M	-6.5M	-7.81M	-7.88M
Net Margin %	-4.04%	-22.07%	-18.41%	-144.36%	-95.29%	-15.09%
Net Income Growth %	-	-0.29%	-1.08%	-1.49%	-0.2%	-0.01%
Net Income (Continuing)	-977K	-1.26M	-2.61M	-6.5M	-7.81M	-7.88M
Discontinued Operations	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0
EPS (Diluted)+	-0.09	-9.04	-13.94	-42.40	-38.40	-24.19
EPS Growth %	-	-99.22%	-0.54%	-2.04%	0.09%	0.37%
EPS (Basic)	-0.09	-0.11	-13.94	-34.53	-38.40	-24.19
Diluted Shares Outstanding	278.42K	278.42K	278.42K	376.24K	405.03K	325.69K
Basic Shares Outstanding	278.42K	278.42K	278.42K	376.24K	405.03K	325.69K
Dividend Payout Ratio	-	-	-	-	-	-

Balance Sheet

	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	1.59M	563K	1.4M	10.98M	6.75M	5.52M
Cash & Short-Term Investments	1.58M	475K	1.27M	10.37M	4.86M	3.95M
Cash Only	1.58M	475K	1.27M	10.37M	810K	3.09M
Short-Term Investments	0	0	0	0	4.04M	862K
Accounts Receivable	6K	68K	117K	54K	865K	339K
Days Sales Outstanding	9.05	435.44	300.74	438	3.85K	237.04
Inventory	0	20K	11K	6K	1.03M	1.23M
Days Inventory Outstanding	-	811.11	259.03	86.45	6.08K	1.02K
Other Current Assets	0	0	0	543K	865K	0
Total Non-Current Assets+	9K	30K	43K	248K	840K	460K
Property, Plant & Equipment	9K	18K	43K	248K	786K	460K
Fixed Asset Turnover	26.89x	3.17x	3.30x	0.18x	0.10x	1.13x
Goodwill	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	0
Long-Term Investments	12K	12K	0	0	54K	0
Other Non-Current Assets	-12K	0	0	0	0	0
Total Assets+	1.6M	593K	1.45M	11.22M	7.59M	5.98M
Asset Turnover	0.15x	0.10x	0.10x	0.00x	0.01x	0.09x
Asset Growth %	-	-0.63%	1.44%	6.77%	-0.32%	-0.21%
Total Current Liabilities+	3.3M	3.47M	638K	1.15M	1.79M	2.1M
Accounts Payable	73K	32K	72K	156K	410K	157K
Days Payables Outstanding	1.27K	1.3K	1.7K	2.25K	2.41K	131.13
Short-Term Debt	3M	3.05M	0	0	0	770K
Deferred Revenue (Current)	11K	225K	297K	365K	0	392K
Other Current Liabilities	46K	42K	0	0	312K	83K
Current Ratio	0.48x	0.16x	2.20x	9.54x	3.78x	2.63x
Quick Ratio	0.48x	0.16x	2.18x	9.54x	3.20x	2.05x
Cash Conversion Cycle	-	-51.23	-1.14K	-1.72K	7.51K	1.13K
Total Non-Current Liabilities+	0	0	0	94K	278K	21K
Long-Term Debt	0	0	0	0	0	0
Capital Lease Obligations	0	0	0	94K	278K	21K
Deferred Tax Liabilities	0	0	0	0	0	0
Other Non-Current Liabilities	0	0	0	0	0	0
Total Liabilities	3.3M	3.47M	638K	1.24M	2.07M	2.12M
Total Debt+	3M	3.05M	0	162K	575K	1.08M
Net Debt	1.42M	2.58M	-1.27M	-10.21M	-235K	-2.01M
Debt / Equity	-	-	-	0.02x	0.10x	0.28x
Debt / EBITDA	-	-	-	-	-	-
Net Debt / EBITDA	-	-	-	-	-	-
Interest Coverage	-33.89x	-11.33x	-	-146.16x	-	-150.38x
Total Equity+	-1.7M	-2.88M	807K	9.98M	5.53M	3.86M
Equity Growth %	-	-0.69%	1.28%	11.37%	-0.45%	-0.3%
Book Value per Share	-6.10	-10.33	2.90	26.53	13.64	11.85
Total Shareholders' Equity	-1.7M	-2.88M	807K	9.98M	5.53M	3.86M
Common Stock	17K	17K	31K	43K	57K	67K
Retained Earnings	-3.04M	-4.3M	-6.91M	-13.41M	-21.22M	-29.1M
Treasury Stock	0	0	0	0	0	0
Accumulated OCI	-12K	-12K	0	0	0	0
Minority Interest	0	0	0	0	0	0

Cash Flow

	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-481K	-1.09M	-2.1M	-5.71M	-8.43M	-7.61M
Operating CF Margin %	-1.99%	-19.11%	-14.81%	-126.98%	-102.85%	-14.58%
Operating CF Growth %	-	-1.26%	-0.93%	-1.72%	-0.48%	0.1%
Net Income	-977K	-1.26M	-2.61M	-6.5M	-7.81M	-7.88M
Depreciation & Amortization	7K	7K	11K	23K	68K	107K
Stock-Based Compensation	148K	67K	299K	790K	241K	182K
Deferred Taxes	0	-196K	-291K	-731K	0	0
Other Non-Cash Items	50K	252K	311K	731K	-113K	244K
Working Capital Changes	291K	39K	181K	-31K	-816K	-267K
Change in Receivables	90K	-62K	-19K	16K	-54K	448K
Change in Inventory	13K	-12K	9K	5K	-1.03M	-269K
Change in Payables	47K	-41K	40K	84K	254K	-253K
Cash from Investing+	-1K	-16K	-36K	-66K	-4.25M	3.2M
Capital Expenditures	-1K	-16K	-36K	-48K	-194K	-43K
CapEx % of Revenue	0%	0.28%	0.25%	1.07%	2.37%	0.08%
Acquisitions	-	-	-	-	-	-
Investments	-	-	-	-	-	-
Other Investing	0	0	0	-18K	0	3.24M
Cash from Financing+	1.9M	0	2.94M	14.88M	3.12M	6.7M
Debt Issued (Net)	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-
Other Financing	0	0	12K	160K	1.45M	0
Net Change in Cash	-	-	-	-	-	-
Free Cash Flow+	-482K	-1.1M	-2.14M	-5.76M	-8.63M	-7.66M
FCF Margin %	-1.99%	-19.39%	-15.06%	-128.04%	-105.22%	-14.67%
FCF Growth %	-	-1.29%	-0.94%	-1.69%	-0.5%	0.11%
FCF per Share	-1.73	-3.97	-7.68	-15.31	-21.30	-23.51
FCF Conversion (FCF/Net Income)	0.49x	0.87x	0.80x	0.88x	1.08x	0.97x
Interest Paid	0	0	0	0	0	49K
Taxes Paid	0	0	0	0	0	0

Key Ratios

Metric	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-	-	-323.92%	-120.44%	-100.79%	-167.89%
Return on Invested Capital (ROIC)	-	-	-	-	-242.67%	-164.19%
Gross Margin	91.32%	84.21%	89.08%	43.7%	24.39%	16.28%
Net Margin	-403.72%	-2207.02%	-1840.85%	-14435.56%	-9529.27%	-1509.39%
Debt / Equity	-	-	-	0.02x	0.10x	0.28x
Interest Coverage	-33.89x	-11.33x	-	-146.16x	-	-150.38x
FCF Conversion	0.49x	0.87x	0.80x	0.88x	1.08x	0.97x
Revenue Growth	-	-76.45%	149.12%	-68.31%	82.22%	536.59%

Frequently Asked Questions

Growth & Financials

Wearable Devices Ltd. (WLDS) reported $0.9M in revenue for fiscal year 2024. This represents a 266% increase from $0.2M in 2019.

Wearable Devices Ltd. (WLDS) grew revenue by 536.6% over the past year. This is strong growth.

Wearable Devices Ltd. (WLDS) reported a net loss of $15.5M for fiscal year 2024.

Dividend & Returns

Wearable Devices Ltd. (WLDS) has a return on equity (ROE) of -167.9%. Negative ROE indicates the company is unprofitable.

Wearable Devices Ltd. (WLDS) had negative free cash flow of $15.4M in fiscal year 2024, likely due to heavy capital investments.

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