Logo

LWLG

Lightwave Logic, Inc.

LWLG

Lightwave Logic, Inc. • NASDAQ
$4.34 ▲ 0.23% (+0.01)
Market Cap $579.97 M
52w High $6.26
52w Low $0.79
Dividend Yield 0%
P/E -25.53
Volume 688.86K
Outstanding Shares 133.63M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $29.166K ▲ $4.665M ▼ $-5.101M ▲ -17.488K% ▲ $-0.04 ▲ $-4.557M ▲
Q2-2025 $25.605K ▲ $5.628M ▲ $-5.672M ▼ -22.152K% ▼ $-0.045 ▼ $-5.067M ▼
Q1-2025 $22.917K $4.926M ▼ $-4.697M ▲ -20.496K% ▲ $-0.038 ▲ $-4.4M ▲
Q4-2024 $22.917K ▲ $5.724M ▲ $-5.535M ▼ -24.15K% ▼ $-0.045 ▼ $-5.043M ▼
Q3-2024 $22.916K $5.319M $-5.301M -23.132K% $0.097 $-4.861M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $34.942M ▲ $44.787M ▲ $2.454M ▼ $41.191M ▲
Q2-2025 $22.107M ▼ $32.436M ▼ $3.602M ▼ $28.834M ▼
Q1-2025 $25.045M ▼ $35.64M ▼ $4.09M ▼ $31.55M ▼
Q4-2024 $27.668M ▲ $37.808M ▲ $4.384M ▲ $33.424M ▼
Q3-2024 $26.882M $37.236M $3.765M $33.472M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-5.101M ▲ $-3.176M ▲ $-224.15K ▼ $16.235M ▲ $12.835M ▲ $-3.127M ▲
Q2-2025 $-5.672M ▼ $-3.77M ▼ $-102.804K ▲ $934.512K ▼ $-2.938M ▼ $-3.873M ▲
Q1-2025 $-4.697M ▲ $-3.49M ▼ $-899.422K ▼ $1.767M ▼ $-2.623M ▼ $-4.39M ▼
Q4-2024 $-5.535M ▼ $-3.136M ▲ $-419.25K ▲ $4.341M ▲ $785.497K ▲ $-3.556M ▲
Q3-2024 $-5.301M $-3.59M $-625.432K $1.903M $-2.313M $-4.216M

Five-Year Company Overview

Income Statement

Income Statement Lightwave Logic is still a pre-revenue R&D company. It has not yet turned its technology into commercial sales, so the income statement is driven almost entirely by research and operating costs. Losses have been steady and modest in absolute size, but they have persisted for years, reflecting a long development cycle. Earnings per share remain negative and have drifted slightly weaker over time as the company invests in its platform and partnerships. From an income perspective, this is very much an early-stage story that depends on future commercialization rather than current profitability.

Balance Sheet

Balance Sheet The balance sheet is small but relatively clean. The company holds a meaningful portion of its assets in cash, has no reported debt, and is funded mainly by shareholder equity. Asset levels have crept up over time, suggesting gradual investment, but the overall scale remains limited. The absence of leverage reduces financial risk, but because the company has no revenue, its strength ultimately depends on how long its cash can support operations and whether it can access additional capital if needed.

Cash Flow

Cash Flow Cash flows are consistently negative from operations, which is expected for a company without revenue that is funding ongoing R&D and commercialization efforts. Free cash flow is also negative, though capital spending appears light, meaning most outflows are for people and technology, not heavy equipment. The trend shows a steady cash burn rather than sharp spikes. Sustainability of this burn hinges on the current cash balance and any future capital raises until licensing or material sales begin to meaningfully contribute.

Competitive Edge

Competitive Edge Lightwave Logic’s competitive position is built on a specialized niche: electro-optic polymers for very high-speed, low-power data communication. Its main strengths are its proprietary materials (Perkinamine), a sizable patent portfolio, and a business model designed to plug into existing chip-making processes. The company aims to license and co-develop rather than build everything itself, which could help scaling if partners commit. However, it is competing against deeply entrenched technologies and large incumbents in photonics and semiconductors, so actual adoption and ecosystem buy-in are the key uncertainties.

Innovation and R&D

Innovation and R&D Innovation is the core of this company. It is pushing polymer-based modulators that target higher data speeds, lower power use, and smaller components than many existing solutions. The firm is vertically integrated in R&D, from materials chemistry to device design, and is working with large, well-known partners on custom solutions for data centers and AI networks. The roadmap includes more advanced data rates and co-packaged optics, along with wider foundry support. All of this points to strong technical ambition, but actual commercial proof and long-term reliability in large-scale deployments are still being validated.

Summary

Overall, Lightwave Logic is an early-stage, R&D-heavy company with no current product revenue, ongoing small but persistent losses, and a relatively simple, debt-free balance sheet. Its investment case rests almost entirely on the future success of its electro-optic polymer platform and the conversion of design collaborations into meaningful, recurring commercial revenue. The company has technological differentiation and notable partners, but it still faces the typical risks of a pre-commercial technology firm: uncertain timing of adoption, dependence on partner execution, and the need to fund operations until the technology gains broad market traction.

NEWS

November 25, 2025 · 7:30 AM UTC

Lightwave Logic, Inc. Provides Update on Commercial Pipeline

Read more

November 13, 2025 · 7:30 AM UTC

Lightwave Logic to Attend 14th Annual Roth Technology Conference

Read more

November 11, 2025 · 7:30 AM UTC

Lightwave Logic to Host Update Call on November 25, 2025

Read more

November 4, 2025 · 7:30 AM UTC

Lightwave Logic, Inc. Provides Update on Commercial Pipeline

Read more

October 15, 2025 · 7:30 AM UTC

Lightwave Logic, Inc. Affirms Fully Rare-Earth-Free Supply Chain and Entirely U.S.-Based Production of Perkinamine

Read more