LWLG · Lightwave Logic, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $29.2K | - | $29.2K | $25.6K | $22.9K | - | $22.9K | $19.4K | $30.4K | - |
| Cost of Revenue | $1.3K | - | - | $3.5K | $2.0K | - | $1.2K | - | $5.2K | - |
| Gross Profit | $27.8K | - | - | $22.1K | $25.2K | - | $21.7K | - | $25.2K | - |
| R&D | $3.49M | - | $2.92M | $2.64M | $3.09M | - | $3.83M | $4.36M | $4.62M | - |
| SG&A | $3.26M | - | $2.29M | $2.99M | $1.84M | - | $1.49M | $1.90M | $1.26M | - |
| Total Operating Expenses | $6.75M | - | $5.32M | $6.26M | $5.88M | - | $5.32M | $6.26M | $5.88M | - |
| D&A | $496.4K | - | $464.2K | $461.2K | $455.0K | - | $387.0K | $395.9K | $386.5K | - |
| Operating Income | ($6.73M) | - | ($5.18M) | ($5.61M) | ($4.91M) | - | ($5.30M) | ($6.24M) | ($5.85M) | - |
| Interest Expense | - | - | - | - | - | - | - | - | - | - |
| Income Tax | $0 | - | $0 | $0 | $0 | - | $0 | $0 | $0 | - |
| Net Income | ($6.30M) | - | ($5.10M) | ($5.67M) | ($4.70M) | - | ($5.30M) | ($6.02M) | ($5.68M) | - |
| EPS - Basic | ($0.04) | - | ($0.04) | ($0.05) | ($0.04) | - | ($0.04) | ($0.05) | ($0.05) | - |
| EPS - Diluted | ($0.04) | - | ($0.04) | ($0.05) | ($0.04) | - | ($0.04) | ($0.05) | ($0.05) | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $75.10M | $69.02M | $34.94M | $22.11M | $25.05M | $27.67M | $26.88M | $29.20M | $31.51M | $31.43M |
| Accounts Receivable | $215.8K | $190.8K | $35.8K | $10.8K | $18.8K | $45.6K | $26.8K | $8.1K | $56.8K | $30.4K |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | $779.7K | $477.9K | $388.5K | $320.5K | $528.7K | $516.0K | $449.8K | $918.0K | $1.00M | $1.45M |
| Current Assets | $76.50M | $69.81M | $35.46M | $22.76M | $25.55M | $28.12M | $27.47M | $29.96M | $32.26M | $32.70M |
| Total Assets | $85.91M | $79.19M | $44.79M | $32.44M | $35.64M | $37.81M | $37.24M | $39.80M | $41.74M | $41.78M |
| Current Liabilities | $2.25M | $2.14M | $1.14M | $1.10M | $1.54M | $1.79M | $1.12M | $1.49M | $1.81M | $2.58M |
| Long-term Debt | - | - | - | - | - | - | - | - | - | - |
| Total Liabilities | $4.60M | $4.54M | $3.60M | $3.60M | $4.09M | $4.38M | $3.76M | $4.18M | $4.54M | $5.35M |
| Stockholders' Equity | $81.31M | $74.65M | $41.19M | $28.83M | $31.55M | $33.42M | $33.47M | $35.62M | $37.20M | $36.43M |
| Retained Earnings | ($173.61M) | ($167.31M) | ($165.88M) | ($160.78M) | ($155.10M) | ($150.41M) | ($144.87M) | ($139.57M) | ($133.55M) | ($127.87M) |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | ($4.06M) | - | - | - | ($3.49M) | - | - | - | ($4.77M) | - |
| Investing Cash Flow | ($621.4K) | - | - | - | ($899.4K) | - | - | - | ($828.5K) | - |
| Financing Cash Flow | $10.77M | - | - | - | $1.77M | - | - | - | $5.68M | - |
| CapEx | $450.5K | - | - | - | $853.5K | - | - | - | $775.4K | - |
| Free Cash Flow | ($4.51M) | - | - | - | ($4.34M) | - | - | - | ($5.55M) | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 95.4% | - | - | 86.5% | 110.1% | - | 94.6% | - | 83.0% | - |
| Operating margin | -23058.0% | - | -17757.5% | -21892.9% | -21405.0% | - | -23115.3% | -32237.5% | -19235.5% | - |
| EBITDA margin | -21356.2% | - | -16165.8% | -20091.6% | -19419.7% | - | -21426.6% | -30191.9% | -17964.9% | - |
| Net margin | -21601.6% | - | -17488.0% | -22152.4% | -20495.8% | - | -23131.9% | -31101.4% | -18673.5% | - |
| Free cash flow margin | -15468.3% | - | - | - | -18953.9% | - | - | - | -18238.4% | - |
| FCF / Net income | 0.72 | - | - | - | 0.92 | - | - | - | 0.98 | - |
| R&D / Revenue | 11966.6% | - | 10003.0% | 10318.1% | 13480.0% | - | 16705.8% | 22538.1% | 15191.1% | - |
| SG&A / Revenue | 11186.8% | - | 7854.5% | 11661.3% | 8016.1% | - | 6504.1% | 9799.4% | 4127.5% | - |
| Effective tax rate | - | - | - | - | - | - | - | - | - | - |
| Return on assets | -7.3% | - | -11.4% | -17.5% | -13.2% | - | -14.2% | -15.1% | -13.6% | - |
| Return on equity | -7.7% | - | -12.4% | -19.7% | -14.9% | - | -15.8% | -16.9% | -15.3% | - |
| Return on invested capital | - | - | - | - | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | 33.99 | 32.69 | 31.06 | 20.72 | 16.62 | 15.75 | 24.48 | 20.08 | 17.81 | 12.66 |
| Quick ratio | 33.99 | 32.69 | 31.06 | 20.72 | 16.62 | 15.75 | 24.48 | 20.08 | 17.81 | 12.66 |
| Cash ratio | 33.37 | 32.32 | 30.60 | 20.13 | 16.29 | 15.50 | 23.95 | 19.57 | 17.39 | 12.17 |
| Leverage | ||||||||||
| Debt / Equity | - | - | - | - | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | - | - | - | - | - | - | - | - | - | - |
| Equity multiplier | 1.06 | 1.06 | 1.09 | 1.12 | 1.13 | 1.13 | 1.11 | 1.12 | 1.12 | 1.15 |
| Liabilities / Assets | 0.05 | 0.06 | 0.08 | 0.11 | 0.11 | 0.12 | 0.10 | 0.10 | 0.11 | 0.13 |
| Efficiency | ||||||||||
| Asset turnover | 0.00 | - | 0.00 | 0.00 | 0.00 | - | 0.00 | 0.00 | 0.00 | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | 2700d | - | 447d | 153d | 299d | - | 427d | 152d | 681d | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | 213021d | - | - | 33785d | 95149d | - | 132815d | - | 70566d | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | - | - | - | - | - | - | - | - | - | - |
| P / B | 12.8x | - | 11.7x | 5.4x | 4.0x | - | 10.0x | 10.1x | 15.0x | - |
| P / S | 35692.6x | - | 16491.2x | 6066.6x | 5516.0x | - | 14561.4x | 18565.6x | 18301.9x | - |
| EV / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 27.3% | - | 27.3% | 32.3% | -24.7% | - | - | - | - | - |
| Revenue CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| Revenue CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Gross profit growth (YoY) | 10.3% | - | - | - | 0.0% | - | - | - | - | - |
| Operating income growth (YoY) | -37.1% | - | 2.2% | 10.2% | 16.2% | - | 1.7% | -16.8% | -13.4% | - |
| Net income growth (YoY) | -34.1% | - | 3.8% | 5.8% | 17.3% | - | -2.6% | -10.3% | -3.7% | - |
| EPS growth (YoY) | 0.0% | - | 0.0% | 0.0% | 20.0% | - | 0.0% | 0.0% | 0.0% | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | -3.9% | - | - | - | 21.7% | - | - | - | -38.9% | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | 157.7% | 123.3% | 23.1% | -19.1% | -15.2% | -8.3% | -5.5% | -3.1% | 24.7% | 32.2% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Geographic
$236.9K totalOutside The United States$236.9K · 100.0%