NASDAQ : LWLG
Lightwave Logic, Inc. — Financial statements
Materials · Specialty Chemicals · United States
Last price 4.74 USD (Oct 30, 2026, 3:41 PM EDT) · Market cap 730.75M
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Financial statements
Lightwave Logic, Inc. (LWLG) reported revenue of 250.25K USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 250.25K | 236.85K | 95.61K | 40.50K | ||
| Cost of Revenue | 2.67K | 6.82K | 7.39K | 2.51K | ||
| Gross Profit | 247.58K | 230.03K | 88.21K | 37.99K | ||
| Selling, General & Admin | 12.40M | 9.87M | 6.88M | 5.69M | 4.47M | 4.65M |
| Research & Development | 12.80M | 11.12M | 16.29M | 15.57M | 12.67M | 12.34M |
| Operating Expenses | 25.32M | 21.36M | 23.33M | 21.94M | 17.35M | 19.06M |
| Operating Income | -25.08M | -21.13M | -23.24M | -21.90M | -17.35M | -19.06M |
| Interest & Investment Income | 1.60M | 842.45K | 926.85K | 657.55K | 91.66K | 13.83K |
| Other Non Operating Income (Expenses) | 8.28K | 645.00 | -5.10K | -12.24K | 27.23K | |
| EBT Excluding Unusual Items | -23.47M | -20.29M | -22.32M | -21.25M | -17.23M | -19.04M |
| Gain (Loss) on Sale of Assets | -95.63K | -25.15K | -213.44K | 215.51K | ||
| Other Unusual Items | 410.70K | |||||
| Pretax Income | -23.56M | -20.31M | -22.54M | -21.04M | -17.23M | -18.63M |
| Net Income | -23.56M | -20.31M | -22.54M | -21.04M | -17.23M | -18.63M |
| Net Income to Common | -23.56M | -20.31M | -22.54M | -21.04M | -17.23M | -18.63M |
| Shares Outstanding (Basic) | 141.72M | 128.63M | 120.60M | 115.47M | 111.81M | 105.22M |
| Shares Outstanding (Diluted) | 141.72M | 128.63M | 120.60M | 115.47M | 111.81M | 105.22M |
| EPS (Basic) | -0.17 | -0.16 | -0.19 | -0.18 | -0.15 | -0.18 |
| EPS (Diluted) | -0.17 | -0.16 | -0.19 | -0.18 | -0.15 | -0.18 |
| Free Cash Flow | -18.33M | -15.08M | -17.82M | -15.53M | -11.84M | -11.40M |
| Free Cash Flow Per Share | -0.13 | -0.12 | -0.15 | -0.13 | -0.11 | -0.11 |
| Gross Margin | 98.93% | 97.12% | 92.27% | 93.80% | ||
| Operating Margin | -10,020.66% | -8,921.80% | -24,311.86% | -54,068.55% | ||
| Profit Margin | -9,416.34% | -8,576.47% | -23,570.99% | -51,943.19% | ||
| Free Cash Flow Margin | -7,323.73% | -6,367.17% | -18,637.01% | -38,339.46% | ||
| EBITDA | -23.13M | -19.23M | -21.56M | -20.78M | -16.30M | -18.18M |
| D&A For EBITDA | 1.95M | 1.90M | 1.68M | 1.12M | 1.05M | 878.52K |
| EBIT | -25.08M | -21.13M | -23.24M | -21.90M | -17.35M | -19.06M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 47.21M | 69.02M | 27.67M | 31.43M | 24.10M | 23.43M |
| Short-Term Investments | 48.70M | |||||
| Cash & Short-Term Investments | 95.91M | 69.02M | 27.67M | 31.43M | 24.10M | 23.43M |
| Accounts Receivable | 16.13K | 190.75K | 45.56K | 30.38K | ||
| Other Receivables | 254.29K | 4.48K | 13.67K | |||
| Receivables | 270.42K | 190.75K | 45.56K | 34.86K | 655.79K | |
| Prepaid Expenses | 906.90K | 405.04K | 348.19K | 998.50K | 451.68K | 199.27K |
| Other Current Assets | 987.91K | 196.06K | 53.55K | 234.64K | 146.00K | 33.04K |
| Total Current Assets | 98.08M | 69.81M | 28.12M | 32.70M | 25.36M | 23.66M |
| Property, Plant & Equipment | 8.12M | 7.66M | 8.34M | 7.83M | 2.88M | 2.72M |
| Other Intangible Assets | 1.88M | 1.71M | 1.36M | 1.25M | 1.03M | 848.13K |
| Total Assets | 108.08M | 79.19M | 37.81M | 41.78M | 29.26M | 27.23M |
| Accounts Payable | 445.40K | 477.94K | 515.96K | 1.45M | 791.67K | 215.73K |
| Accrued Expenses | 806.34K | 1.46M | 1.08M | 912.91K | 480.45K | 1.15M |
| Current Portion of Leases | 209.06K | 194.77K | 168.29K | 144.12K | 190.12K | 178.19K |
| Current Unearned Revenue | 100.00K | 6.54K | 23.21K | 39.88K | ||
| Other Current Liabilities | 38.30K | 41.78K | 41.78K | |||
| Total Current Liabilities | 1.56M | 2.14M | 1.79M | 2.58M | 1.50M | 1.59M |
| Long-Term Leases | 2.29M | 2.40M | 2.60M | 2.77M | 168.13K | 358.25K |
| Other Long-Term Liabilities | 38.30K | 80.08K | ||||
| Total Liabilities | 3.86M | 4.54M | 4.38M | 5.35M | 1.71M | 2.02M |
| Common Stock | 154.17K | 146.05K | 123.30K | 118.14K | 112.88K | 110.56K |
| Additional Paid-In Capital | 284.46M | 242.02M | 180.96M | 164.62M | 134.41M | 114.70M |
| Retained Earnings | -180.23M | -167.31M | -147.00M | -127.87M | -106.83M | -89.60M |
| Comprehensive Income & Other | -161.69K | -203.46K | -656.74K | -432.29K | -133.32K | |
| Shareholders' Equity | 104.22M | 74.65M | 33.42M | 36.43M | 27.55M | 25.20M |
| Total Liabilities & Equity | 108.08M | 79.19M | 37.81M | 41.78M | 29.26M | 27.23M |
| Total Debt | 2.50M | 2.60M | 2.77M | 2.91M | 358.25K | 536.45K |
| Net Cash (Debt) | 93.41M | 66.42M | 24.90M | 28.52M | 23.74M | 22.90M |
| Net Cash Per Share | 0.66 | 0.52 | 0.21 | 0.25 | 0.21 | 0.22 |
| Filing Date Shares Outstanding | 154.17M | 148.83M | 124.80M | 119.18M | 113.22M | 110.98M |
| Total Common Shares Outstanding | 154.17M | 146.05M | 123.30M | 118.14M | 112.88M | 110.56M |
| Working Capital | 96.52M | 67.67M | 26.33M | 30.12M | 23.85M | 22.08M |
| Book Value Per Share | 0.68 | 0.51 | 0.27 | 0.31 | 0.24 | 0.23 |
| Tangible Book Value | 102.34M | 72.93M | 32.07M | 35.18M | 26.52M | 24.36M |
| Tangible Book Value Per Share | 0.66 | 0.50 | 0.26 | 0.30 | 0.23 | 0.22 |
| Machinery | 13.88M | 12.45M | 11.16M | 9.16M | 6.39M | 5.08M |
| Leasehold Improvements | 477.38K | 440.86K | 432.40K | 396.11K | 184.84K | 254.35K |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -23.56M | -20.31M | -22.54M | -21.04M | -17.23M | -18.63M |
| Depreciation & Amortization | 2.16M | 2.11M | 1.88M | 1.30M | 1.22M | 1.05M |
| Loss (Gain) From Sale of Assets | 95.63K | 25.15K | 213.44K | -215.51K | ||
| Stock-Based Compensation | 6.23M | 5.05M | 5.04M | 7.40M | 6.17M | 6.50M |
| Other Operating Activities | -33.73K | -410.70K | ||||
| Change in Accounts Receivable | -5.38K | -145.19K | -15.19K | -30.38K | ||
| Change in Accounts Payable | -22.57K | -182.54K | -1.04M | 869.24K | 643.92K | 28.88K |
| Change in Unearned Revenue | 85.12K | -16.67K | -16.67K | 39.88K | ||
| Change in Other Net Operating Assets | -1.32M | -277.84K | 931.20K | -560.86K | -1.34M | 1.16M |
| Operating Cash Flow | -16.37M | -13.75M | -15.55M | -12.24M | -10.53M | -10.30M |
| Capital Expenditures | -1.96M | -1.33M | -2.27M | -3.29M | -1.31M | -1.10M |
| Sale of Property, Plant & Equipment | 590.00 | |||||
| Sale (Purchase) of Intangibles | -622.50K | -485.43K | -430.50K | -307.69K | -260.42K | -18.65K |
| Investing Cash Flow | -51.29M | -1.82M | -2.70M | -2.96M | -2.21M | -1.12M |
| Long-Term Debt Repaid | -13.11K | |||||
| Net Debt Issued (Repaid) | -13.11K | |||||
| Issuance of Common Stock | 95.34M | 57.10M | 14.48M | 22.52M | 13.43M | 32.73M |
| Repurchase of Common Stock | -2.58M | -12.88K | ||||
| Other Financing Activities | 12.88K | -171.93K | -18.20K | -1.17M | ||
| Financing Cash Flow | 92.77M | 56.92M | 14.48M | 22.52M | 13.41M | 31.55M |
| Net Cash Flow | 25.10M | 41.35M | -3.76M | 7.33M | 669.54K | 20.13M |
| Free Cash Flow | -18.33M | -15.08M | -17.82M | -15.53M | -11.84M | -11.40M |
| Free Cash Flow Margin | -7,323.73% | -6,367.17% | -18,637.01% | -38,339.46% | ||
| Free Cash Flow Per Share | -0.13 | -0.12 | -0.15 | -0.13 | -0.11 | -0.11 |
| Levered Free Cash Flow | -10.94M | -7.88M | -10.31M | -7.48M | -6.13M | -4.50M |
| Unlevered Free Cash Flow | -10.94M | -7.88M | -10.31M | -7.48M | -6.13M | -4.50M |
| Change in Working Capital | -1.26M | -622.24K | -145.00K | 317.88K | -692.89K | 1.19M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 719.96M | 471.20M | 256.98M | 582.10M | 486.33M | 1.62B |
| Enterprise Value | 626.55M | 438.90M | 232.91M | 554.16M | 461.71M | 1.61B |
| Last Close Price | 4.75 | 3.24 | 2.10 | 4.98 | 4.31 | 14.88 |
| PS Ratio | 3,030.97 | 1,989.38 | 2,687.97 | 14,372.06 | ||
| PB Ratio | 7.03 | 6.31 | 7.69 | 15.98 | 17.65 | 64.25 |
| P/TBV Ratio | 7.41 | 6.46 | 8.01 | 16.55 | 18.34 | 66.49 |
| EV/Sales Ratio | 2,657.71 | 1,853.01 | 2,436.12 | 13,682.36 | ||
| Debt / Equity Ratio | 0.02 | 0.04 | 0.08 | 0.08 | 0.01 | 0.02 |
| Net Debt / Equity Ratio | -0.90 | -0.89 | -0.74 | -0.78 | -0.86 | -0.91 |
| Net Debt / EBITDA Ratio | 4.04 | 3.45 | 1.16 | 1.37 | 1.46 | 1.26 |
| Net Debt / FCF Ratio | 5.10 | 4.40 | 1.40 | 1.84 | 2.01 | 2.01 |
| Asset Turnover | 0.00 | 0.00 | 0.00 | 0.00 | ||
| Quick Ratio | 61.62 | 32.41 | 15.52 | 12.18 | 16.03 | 14.78 |
| Current Ratio | 62.84 | 32.69 | 15.75 | 12.66 | 16.86 | 14.92 |
| Return on Equity (ROE) | -35.42% | -37.59% | -64.52% | -65.76% | -65.32% | -120.28% |
| Return on Assets (ROA) | -22.31% | -22.58% | -36.50% | -38.53% | -38.39% | -68.85% |
| Return on Capital Employed (ROCE) | -23.50% | -27.40% | -64.50% | -55.90% | -62.50% | -74.30% |
| Earnings Yield | -3.56% | -4.31% | -8.77% | -3.61% | -3.54% | -1.15% |
| FCF Yield | -2.42% | -3.20% | -6.93% | -2.67% | -2.43% | -0.70% |
| Buyback Yield / Dilution | -15.10% | -6.66% | -4.45% | -3.27% | -6.26% | -14.55% |