Lightwave Logic, Inc.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $236,855 | $95,605 | $40,502 | — | — |
| Cost of revenue | $6,823 | $7,395 | $2,513 | — | — |
| Gross profit | — | $88,210 | $37,989 | — | — |
| Research and development | $11.5M | $16.8M | $15.9M | $12.8M | $12.5M |
| Operating expenses | $21.0M | $23.2M | $21.3M | $17.1M | $17.0M |
| Operating income | -$20.8M | -$23.1M | -$21.2M | -$17.1M | -$17.0M |
| Interest expense | — | — | $673,578 | $209,709 | $2.1M |
| Pretax income | -$20.3M | -$22.5M | — | — | — |
| Net income | -$20.3M | -$22.5M | -$21.0M | -$17.2M | -$18.6M |
| Balance Sheet | |||||
| Cash and equivalents | $69.0M | $27.7M | $31.4M | $24.1M | $23.4M |
| Current assets | $69.8M | $28.1M | $32.7M | $25.4M | $23.7M |
| Total assets | $79.2M | $37.8M | $41.8M | $29.3M | $27.2M |
| Current liabilities | $2.1M | $1.8M | $2.6M | $1.5M | $1.6M |
| Total liabilities | $4.5M | $4.4M | $5.3M | $1.7M | $2.0M |
| Stockholders' equity | $74.6M | $33.4M | $36.4M | $27.6M | $25.2M |
| Cash Flow Statement | |||||
| Cash from operations | -$13.7M | -$15.6M | -$12.2M | -$10.5M | -$10.3M |
| Depreciation and amortization | $1.8M | $1.6M | $1.0M | $966,995 | $792,004 |
| Stock-based compensation | $4.7M | $4.9M | $6.7M | $5.8M | $1.0M |
| Capital expenditure | $1.3M | $2.3M | $3.3M | $1.3M | $1.1M |
| Free cash flow | -$15.1M | -$17.8M | -$15.5M | -$11.8M | -$11.4M |
| Impairments | — | $0 | $0 | $0 | $0 |
Shares outstanding 154.1M · Free float 97.8%
Annual filing data through FY ended December 31, 2025; float as of July 12, 2026.