Wearable Devices Ltd.

What they do

Wearable Devices Ltd. was incorporated in Israel in 2014 and develops a non-invasive neural input interface in the form of a wrist wearable band for controlling digital devices using subtle touchless finger movements. It works with both B2B and B2C customers under what it describes as a push-pull strategy and states it has completed the transition from research and development to commercialization. Its first B2C consumer product is the Mudra Band, an aftermarket accessory band for the Apple Watch that enables touchless operation and control of Apple ecosystem devices such as iPhone, Mac, Apple TV and iPad.

Revenue drivers

• Mudra Band (B2C) — Aftermarket Apple Watch accessory band sold as the company's first consumer product, generating the B2C portion of revenue.
• B2B business — Sales to business customers pursued alongside B2C under the company's stated push-pull strategy; relative size versus B2C is not disclosed in the excerpts.
• Total revenue scale — Reported annual revenue rose from $82,000 in 2023 to $522,000 in 2024 and $647,000 in 2025, indicating a still very small revenue base.

Recent performance

Revenue was $647,000 in 2025, up from $522,000 in 2024, $82,000 in 2023, $45,000 in 2022 and $142,000 in 2021. Net loss was $8.1 million in 2025, compared with $7.9 million in 2024, $7.8 million in 2023, $6.5 million in 2022 and $2.6 million in 2021, so losses have widened as revenue grew. Operating cash flow was negative $6.6 million in 2025, versus negative $7.6 million in 2024, negative $8.4 million in 2023, negative $5.7 million in 2022 and negative $2.1 million in 2021. At December 31, 2025 the company reported total assets of $20.0 million, total liabilities of $1.4 million, shareholders' equity of $18.6 million, and cash and equivalents of $6.5 million.

Strategy

The company states it has completed the transition from research and development to commercialization of its technology into B2B and B2C products. It says it has been working with both B2B and B2C customers as part of its push-pull strategy since its technology was introduced to the market in 2014. It describes manufacturing its first B2C consumer product, the Mudra Band, an aftermarket Apple Watch accessory enabling touchless control of Apple ecosystem devices. The filing does not disclose specific revenue targets, contract values or named customers for either channel.

Risks

• Persistent losses and cash burn — Net loss reached $8.1 million in 2025 and operating cash flow was negative $6.6 million, meaning the company has not demonstrated profitability.
• Very small revenue base — Annual revenue of $647,000 in 2025 is far below the scale of the company's operating losses.
• Product concentration on Apple ecosystem — The Mudra Band is an aftermarket accessory for the Apple Watch and depends on compatibility with Apple devices such as iPhone, Mac, Apple TV and iPad.
• Early-stage commercialization — The company states it has only recently completed the transition from research and development to commercialization, so its products have limited commercial track record.

Outlook

The filing excerpts do not contain specific forward guidance on revenue, margins or product launches. The company describes itself as a growth company developing a non-invasive neural input interface and states that it has moved from research and development to commercialization of B2B and B2C products. No named contracts, customer commitments or timelines are disclosed in the excerpts provided.