LWLG

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Lightwave Logic, Inc.

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Key Metrics

Previous Close: $6.24
52-Week Range: $2.03 – $18.71
Market Cap: $940.42M
P/E (TTM): —
EPS (TTM): -0.17
Dividend Yield: —

Advanced Metrics

Price/Book: 9.02
PEG Ratio: —
Return on Equity: -35.42%
Return on Assets: -22.31%
Gross Margin: 98.93%
Operating Margin: -22195.17%
Profit Margin: 0.00%
Current Ratio: 62.84
Debt/Equity: 0.02
Total Debt: $2.50M
Free Cash Flow: $-10.94M
Revenue Growth: 27.90%
Earnings Growth: —
Enterprise Value: $868.60M

LWLG Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$0.00	$40.50K	$95.61K	$236.85K
Cost of Revenue	$0.00	$2.51K	$7.39K	$6.82K
Gross Profit	$0.00	$37.99K	$88.21K	$230.03K
Research & Development	$12.81M	$15.90M	$16.81M	$11.49M
Selling, General & Admin	$4.33M	$5.36M	$6.37M	$9.50M
Operating Expenses	$17.14M	$21.26M	$23.18M	$20.99M
Operating Income	-$17.14M	-$21.23M	-$23.09M	-$20.76M
EBITDA	-$15.92M	-$19.92M	-$21.21M	-$18.65M
Pretax Income	-$17.23M	-$21.04M	-$22.54M	-$20.31M
Net Income	-$17.23M	-$21.04M	-$22.54M	-$20.31M
Diluted EPS	-0.15	-0.18	-0.19	-0.16
Diluted Shares	111.81M	115.47M	120.60M	128.63M

LWLG Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$24.10M	$31.43M	$27.67M	$69.02M
Receivables	$655.79K	$34.86K	$45.56K	$190.75K
Current Assets	$25.36M	$32.70M	$28.12M	$69.81M
Total Assets	$29.26M	$41.78M	$37.81M	$79.19M
Current Liabilities	$1.50M	$2.58M	$1.79M	$2.14M
Total Debt	$358.25K	$2.91M	$2.77M	$2.60M
Total Liabilities	$1.71M	$5.35M	$4.38M	$4.54M
Retained Earnings	-$106.83M	-$127.87M	-$147.00M	-$167.31M
Shareholders' Equity	$27.55M	$36.43M	$33.42M	$74.65M
Working Capital	$23.85M	$30.12M	$26.33M	$67.67M

LWLG Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	-$10.53M	-$12.24M	-$15.55M	-$13.75M
Capital Expenditure	-$1.57M	-$3.60M	-$2.70M	-$1.82M
Free Cash Flow	-$12.10M	-$15.84M	-$18.25M	-$15.57M
Depreciation & Amortisation	$1.22M	$1.30M	$1.88M	$2.11M
Stock-Based Compensation	$5.81M	$6.46M	$4.44M	$2.05M
Investing Cash Flow	-$2.21M	-$2.96M	-$2.70M	-$1.82M
Financing Cash Flow	$13.41M	$22.52M	$14.48M	$56.92M
Net Change in Cash	$669.54K	$7.33M	-$3.76M	$41.35M

LWLG Income statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Revenue	$22.92K	$25.61K	$29.17K	$159.17K	$29.17K
Cost of Revenue	$2.03K	$3.46K	$0.00	$1.33K	$1.34K
Gross Profit	$20.89K	$22.14K	$29.17K	$157.84K	$27.83K
Research & Development	$3.09M	$2.62M	$2.92M	$2.84M	$3.49M
Selling, General & Admin	$1.84M	$2.30M	$2.29M	$2.39M	$3.26M
Operating Expenses	$4.93M	$4.92M	$5.21M	$5.23M	$6.75M
Operating Income	-$4.91M	-$4.90M	-$5.18M	-$5.07M	-$6.73M
EBITDA	-$4.40M	-$4.36M	-$4.64M	-$4.55M	-$6.18M
Pretax Income	-$4.70M	-$4.97M	-$5.10M	-$4.84M	-$6.30M
Net Income	-$4.70M	-$4.97M	-$5.10M	-$4.84M	-$6.30M
Diluted EPS	-0.04	-0.04	-0.04	—	-0.04
Diluted Shares	123.93M	125.27M	129.64M	—	148.09M

LWLG Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Cash & Equivalents	$25.05M	$22.11M	$34.94M	$69.02M	$75.10M
Receivables	$18.75K	$10.75K	$35.75K	$190.75K	$215.75K
Current Assets	$25.55M	$22.76M	$35.46M	$69.81M	$76.50M
Total Assets	$35.64M	$32.44M	$44.79M	$79.19M	$85.91M
Current Liabilities	$1.54M	$1.10M	$1.14M	$2.14M	$2.25M
Total Debt	$2.73M	$2.69M	$2.64M	$2.60M	$2.55M
Total Liabilities	$4.09M	$3.60M	$3.60M	$4.54M	$4.60M
Retained Earnings	-$155.10M	-$160.78M	-$165.88M	-$167.31M	-$173.61M
Shareholders' Equity	$31.55M	$28.83M	$41.19M	$74.65M	$81.31M
Working Capital	$24.01M	$21.66M	$34.32M	$67.67M	$74.25M

LWLG Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Operating Cash Flow	-$3.49M	-$3.77M	-$3.18M	-$3.31M	-$4.06M
Capital Expenditure	-$899.42K	-$102.80K	-$224.15K	-$590.83K	-$621.41K
Free Cash Flow	-$4.39M	-$3.87M	-$3.40M	-$3.90M	-$4.68M
Depreciation & Amortisation	$505.00K	$539.02K	$543.28K	$521.41K	$549.93K
Stock-Based Compensation	$749.04K	$533.65K	$1.12M	-$347.94K	$331.53K
Investing Cash Flow	-$899.42K	-$102.80K	-$224.15K	-$590.83K	-$621.41K
Financing Cash Flow	$1.77M	$934.51K	$16.24M	$37.98M	$10.77M
Net Change in Cash	-$2.62M	-$2.94M	$12.84M	$34.08M	$6.09M

Market Snapshot

About

Lightwave Logic, Inc. develops proprietary electro-optic polymer materials and devices for high-speed data communications. The company focuses on enabling next-generation photonic integrated circuits for telecommunications and data center applications. Their technology platform aims to address bandwidth limitations in fiber optic networks through advanced organic materials.