Lightwave Logic (LWLG) financial statements
Lightwave Logic reported revenue of $236,855 in fiscal 2025, up 141.8% a year over 2 years.
Net income was -$20M.
Free cash flow was -$15M.
The diluted share count rose 94% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Lightwave Logic's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | — | — | — | — | — | $40,502 | $95,605 | $236,855 |
| Cost of revenue | — | — | — | — | — | — | — | $2,513 | $7,395 | $6,823 |
| Gross profit | — | — | — | — | — | — | — | $37,989 | $88,210 | $230,032 |
| Research and development | $2M | $4M | $4M | $4M | $5M | $12M | $13M | $16M | $17M | $11M |
| Selling, general and admin | $2M | $2M | $2M | $2M | $2M | $5M | $4M | $5M | $6M | $10M |
| Operating income | -$4M | -$6M | -$6M | -$6M | -$7M | -$17M | -$17M | -$21M | -$23M | -$21M |
| Interest expense | $271,885 | $226,094 | $172,192 | $407,792 | $116,366 | $2M | $209,709 | $673,578 | — | — |
| Pre-tax income | — | — | — | — | — | — | — | — | -$23M | -$20M |
| Net income | -$4M | -$6M | -$6M | -$7M | -$7M | -$19M | -$17M | -$21M | -$23M | -$20M |
| EPS (diluted) | -$0.07 | -$0.08 | -$0.08 | -$0.08 | -$0.07 | -$0.18 | -$0.15 | -$0.18 | -$0.19 | -$0.16 |
| Diluted shares | 66M | 71M | 76M | 83M | 92M | 105M | 112M | 115M | 121M | 129M |
| Gross margin | — | — | — | — | — | — | — | 93.8% | 92.3% | 97.1% |
| Operating margin | — | — | — | — | — | — | — | -52405.5% | -24150.6% | -8765.5% |
| Net margin | — | — | — | — | — | — | — | -51943.2% | -23571.0% | -8576.5% |
Balance sheet
Fiscal years, from Lightwave Logic's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $2M | $3M | $2M | $2M | $3M | $23M | $24M | $31M | $28M | $69M |
| Receivables | — | — | — | — | — | — | — | $30,376 | $45,565 | $190,753 |
| Inventory | $49,608 | — | — | — | — | — | — | — | — | — |
| Total current assets | $2M | $4M | $3M | $3M | $4M | $24M | $25M | $33M | $28M | $70M |
| Property, plant and equipment | $425,650 | $1M | $2M | $2M | $2M | $2M | $3M | $5M | $6M | $5M |
| Total assets | $3M | $6M | $5M | $7M | $7M | $27M | $29M | $42M | $38M | $79M |
| Total current liabilities | $127,886 | $648,761 | $395,350 | $997,628 | $933,032 | $2M | $2M | $3M | $2M | $2M |
| Total liabilities | $127,886 | $833,055 | $544,530 | $2M | $2M | $2M | $2M | $5M | $4M | $5M |
| Shareholders' equity | $3M | $5M | $5M | $5M | $6M | $25M | $28M | $36M | $33M | $75M |
| Net debt | -$2M | -$3M | -$2M | -$2M | -$3M | -$23M | -$24M | -$31M | -$28M | -$69M |
Cash flow
Fiscal years, from Lightwave Logic's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$3M | -$4M | -$4M | -$5M | -$5M | -$10M | -$11M | -$12M | -$16M | -$14M |
| Capital spending | $129,163 | $183,789 | $1M | $223,475 | $158,061 | $1M | $1M | $3M | $2M | $1M |
| Free cash flow | -$3M | -$5M | -$5M | -$5M | -$5M | -$11M | -$12M | -$16M | -$18M | -$15M |
| Stock-based compensation | $436,228 | $794,738 | $387,688 | $600,727 | $539,414 | $1M | $6M | $7M | $5M | $5M |
| Free cash flow margin | — | — | — | — | — | — | — | -38339.5% | -18637.0% | -6367.2% |
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Open LWLG in InvestinglyQuestions
What was Lightwave Logic's revenue in 2025?
$236,855 in fiscal 2025, from its 10-K filing.
How much free cash flow does Lightwave Logic generate?
-$15M in fiscal 2025 (operating cash flow minus capital spending).
From Lightwave Logic's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.