Monitor future purchase orders from Encord and any subsequent announcements of data-licensing revenue to gauge commercial traction. The absence of a minimum commitment means this is an option-like revenue stream with no guaranteed near-term contribution.
Price Chart
Executive Summary
Wearable Devices Ltd. entered into a commercial collaboration and data license agreement with Cord Technologies (Encord) to supply Mudra Pro and Mudra Ultimate wristbands for collecting neuromuscular data to be combined with visual data for Physical AI training. The agreement has a one-year initial term, no minimum revenue commitment, and provides for device sales plus a per-hour revenue share on qualifying data. While the collaboration opens a new commercial pathway into the Physical AI ecosystem, the lack of any fixed minimum revenue or volume commitment means near-term financial impact is uncertain.
Key Facts
- Agreement effective October 16, 2026, with Cord Technologies, Inc. (Encord).
- Encord may purchase Mudra Pro and Mudra Ultimate devices; price-per-unit may vary by order volume.
- Encord pays a per-hour revenue share for qualifying data collected using the devices.
- No fixed minimum revenue commitment or minimum data-collection volume in the agreement.
- Initial term of one year, auto-renewing annually unless 60 days' notice of non-renewal is given.
- Limited, conditional mutual exclusivity for 12 months from the effective date.
- Encord receives a perpetual, worldwide, non-exclusive license to use data generated during the term to create and exploit Processing Outputs.
- Collaboration builds on an existing evaluation relationship; joint development work requires separate written agreements.
Financial Impact
No fixed minimum revenue or volume commitment; financial impact depends entirely on future purchase orders and data-collection activity, which are not quantified in the filing.
Risk Factors
- No minimum revenue or volume commitment — commercial upside is entirely contingent on Encord's demand.
- Technical and market risks: combined neuromuscular+visual data may not deliver the anticipated benefits for Physical AI training.
- Competition from other neural-sensing and data-infrastructure providers could limit adoption.
- Dependence on Encord's ability to commercialize datasets to third-party developers.
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001213900-26-111505 |
| Document: ea030936001ex99-1.htm | 0001213900-26-111505 |
| Document: 0001213900-26-111505-index-headers.html | 0001213900-26-111505 |
| Document: 0001213900-26-111505-index.html | 0001213900-26-111505 |
| Document: 0001213900-26-111505.txt | 0001213900-26-111505 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 22, 2026 4d ago | 6-K | $1.39 | awaiting T+20 | — | $1.32 (−5.04%) |
Oct 22, 2026 4d ago | Press Release | $1.39 | awaiting T+20 | — | $1.32 (−5.04%) |
Oct 13, 2026 13d ago | 6-K | $1.42 | awaiting T+20 | — | $1.32 (−7.04%) |
Oct 8, 2026 19d ago | EFFECT | $1.35 | awaiting T+20 | — | $1.32 (+2.22%) |
Sep 23, 2026 4w ago | 6-K | $1.64 $1.35 | ▼ −17.68% | ▼ −18.37% | $1.32 (−19.51%) |
Sep 23, 2026 4w ago | EFFECT | $1.64 $1.35 | ▲ +17.68% | ▲ +18.37% | $1.32 (+19.51%) |
Sep 23, 2026 4w ago | EFFECT | $1.64 $1.35 | ▲ +17.68% | ▲ +18.37% | $1.32 (+19.51%) |
Sep 23, 2026 4w ago | EFFECT | $1.64 $1.35 | ▲ +17.68% | ▲ +18.37% | $1.32 (+19.51%) |
Sep 2, 2026 7w ago | EFFECT | $2.02 $1.48 | ▲ +26.73% | ▲ +26.65% | $1.32 (+34.65%) |
Aug 24, 2026 9w ago | Press Release | $2.50 $1.64 | ▼ −34.40% | ▼ −35.38% | $1.32 (−47.20%) |
US Market Status
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