$MDWD

MediWound Ltd.

CIK:0001593984|SEC Filings

Consolidated Statements of Profit or Loss and Other Comprehensive Income or Loss - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Profit or loss [abstract]
Revenues from sale of products	$ 5,769	$ 6,832	$ 6,261
Revenues from development services	10,800	13,135	12,265
Revenues from license agreements and royalties	390	255	160
Total revenues	16,959	20,222	18,686
Cost of revenues from sale of products	4,727	6,440	4,927
Cost of revenues from development services	8,946	11,128	10,177
Cost of revenues from license agreements and royalties	32	20	4
Total cost of revenues	13,705	17,588	15,108
Gross profit	3,254	2,634	3,578
Research and development	14,320	8,878	7,467
Selling and marketing	5,765	4,936	4,844
General and administrative	8,448	8,202	6,768
Other (income) expenses	(13)	18	(211)
Total operating expenses	28,520	22,034	18,868
Operating loss	(25,266)	(19,400)	(15,290)
Finance income	4,017	2,048	10,651
Finance expense	(2,461)	(12,811)	(1,892)
Financing income (expenses), net	1,556	(10,763)	8,759
Loss before taxes on income	(23,710)	(30,163)	(6,531)
Taxes on income	(169)	(61)	(185)
Net loss	(23,879)	(30,224)	(6,716)
Other comprehensive income (loss):
Foreign currency translation adjustments	(21)	7	(13)
Total comprehensive loss	$ (23,900)	$ (30,217)	$ (6,729)
Loss per share data:
Basic net loss per share	$ (2.1)	$ (3.03)	$ (0.75)
Diluted net loss per share	$ (2.1)	$ (3.03)	$ (0.75)
Number of shares used in calculating basic loss per share	11,376,571	9,959,723	9,013,144
Number of shares used in calculating diluted loss per share	11,376,571	9,959,723	9,013,144

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Cash Flows from Operating Activities:
Net loss	$ (23,879)	$ (30,224)	$ (6,716)
Adjustments to profit and loss items:
Depreciation and amortization	1,860	1,483	1,303
Share-based compensation	3,108	3,138	1,940
Revaluation of warrants accounted at fair value	(2,158)	10,704	(8,310)
Revaluation of liabilities in respect of IIA grants	380	752	427
Revaluation of liabilities in respect of TEVA	0	770	468
Financing income and exchange differences on lease liability	1,725	487	257
Increase (decrease) in severance pay liability, net	31	(30)	83
Other (income) expenses	(13)	18	(211)
Financial income, net	(1,891)	(2,039)	(2,231)
Unrealized foreign currency loss (gain)	(51)	47	189
Adjustments to profit and loss items, total	2,991	15,330	(6,085)
Changes in asset and liability items:
Decrease (increase) in trade receivables	3,211	(1,141)	5,658
Decrease (increase) in inventories	(1,363)	187	(906)
Decrease (increase) in other receivables	1,665	120	(894)
Increase (decrease) in trade payables and accrued expenses	2,350	406	(594)
Increase in grants received in advance	0	1,181	0
Increase (decrease) in other payables	(1,096)	517	(928)
Changes in asset and liability items, total	4,767	1,270	2,336
Net cash used in operating activities	(16,121)	(13,624)	(10,465)
Cash flows from investing activities:
Purchase of property and equipment	(5,505)	(6,273)	(6,464)
Interest received	1,591	2,252	1,947
Investment in short-term bank deposits, net	(14,036)	(4,376)	(29,804)
Net cash used in investing activities	(17,950)	(8,397)	(34,321)
Cash flows from financing activities:
Repayment of lease liabilities	(1,212)	(928)	(778)
Proceeds from exercise of warrants and share options	3,630	1,210	0
Proceeds from issuance of shares	27,416	22,165	24,909
Repayment of IIA grants	(214)	(219)	(380)
Repayment of liabilities in respect of TEVA	0	(2,834)	(834)
Net cash provided by financing activities	29,620	19,394	22,917
Exchange rate differences on cash and cash equivalent balances	95	(84)	(160)
Decrease in cash and cash equivalents	(4,356)	(2,711)	(22,029)
Balance of cash and cash equivalents at the beginning of the year	9,155	11,866	33,895
Balance of cash and cash equivalents at the end of the year	4,799	9,155	11,866
Supplement disclosure of non-cash transactions:
Right of use asset, net, recognized with corresponding lease liability	1,433	480	6,825
Purchase of property and equipment with credit	$ (268)	$ (344)	$ (1,011)

Consolidated Statements of Financial Position - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
CURRENT ASSETS:
Cash and cash equivalents	$ 4,799	$ 9,155
Short-term bank deposits	48,341	34,006
Trade receivables, net	1,621	4,800
Inventories	4,093	2,692
Other receivables	1,110	1,510
Total current assets	59,964	52,163
LONG-TERM ASSETS:
Other receivables	28	0
Long-term restricted bank deposits	439	439
Property, plant and equipment	18,640	14,132
Right-of-use assets	7,151	6,663
Intangible assets	33	99
Total non-current assets	26,291	21,333
Total assets	86,255	73,496
Current liabilities [abstract]
Current maturities of long-term liabilities	870	612
Warrants	12,659	17,092
Trade payables and accrued expenses	7,648	5,281
Other payables	4,531	3,556
Total current liabilities	25,708	26,541
Non-current liabilities [abstract]
Grants received in advance	0	736
Liabilities in respect of IIA grants	8,291	8,149
Lease liabilities	8,152	6,513
Severance pay liability, net	472	404
Total non-current liabilities	16,915	15,802
Total liabilities	42,623	42,343
Shareholders' equity:
Ordinary shares of NIS 0.07 par value: Authorized 20,000,000 shares as of December 31, 2025 and 2024; Issued and Outstanding 12,835,185 shares as of December 31, 2025 and 10,793,057 shares as of December 31, 2024	258	215
Share premium	272,331	235,995
Foreign currency translation reserve	(32)	(11)
Accumulated deficit	(228,925)	(205,046)
Total equity	43,632	31,153
Total liabilities and equity	$ 86,255	$ 73,496