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Lightwave Logic, Inc.

LWLG Clue Score54
United States Fiscal year ends December CIK 0001325964
$4.97 -2.74% Close, 9 Oct 2026
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Price $4.97 −45.62% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Operating income−4.1Net income−4.4Fiscal year 2017Operating income−5.5Net income−5.7Fiscal year 2018Operating income−5.6Net income−5.8Fiscal year 2019Operating income−6.3Net income−6.7Fiscal year 2020Operating income−6.6Net income−6.7EPS, diluted−0.07Fiscal year 2021Operating income−17.0Net income−18.6EPS, diluted−0.18Fiscal year 2022Operating income−17.1Net income−17.2EPS, diluted−0.15Fiscal year 2023Revenue0.0Operating income−21.2Net income−21.0EPS, diluted−0.18Fiscal year 2024Revenue0.1 +136.1%Operating income−23.1Net income−22.5EPS, diluted−0.19Fiscal year 2025Revenue0.2 +147.7%Operating income−20.8Net income−20.3EPS, diluted−0.16
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue n/a n/a n/a n/a n/a n/a n/a 0.0 0.1 0.2
Growth +136.1% +147.7%
Operating income −4.1 −5.5 −5.6 −6.3 −6.6 −17.0 −17.1 −21.2 −23.1 −20.8
Net income −4.4 −5.7 −5.8 −6.7 −6.7 −18.6 −17.2 −21.0 −22.5 −20.3
Growth
EPS, diluted n/a n/a n/a n/a −0.07 −0.18 −0.15 −0.18 −0.19 −0.16
Growth

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2016Fiscal year 2017Fiscal year 2018Fiscal year 2019Fiscal year 2020Fiscal year 2021Fiscal year 2022Fiscal year 2023Gross margin93.8%Operating margin−52,405.5%Net margin−51,943.2%Free cash flow margin−38,339.5%Fiscal year 2024Gross margin92.3%Operating margin−24,150.6%Net margin−23,571.0%Free cash flow margin−18,637.0%Fiscal year 2025Operating margin−8,765.5%Net margin−8,576.5%Free cash flow margin−6,367.2%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin n/a n/a n/a n/a n/a n/a n/a 93.8% 92.3% n/a
Operating margin n/a n/a n/a n/a n/a n/a n/a −52,405.5% −24,150.6% −8,765.5%
Net margin n/a n/a n/a n/a n/a n/a n/a −51,943.2% −23,571.0% −8,576.5%
Free cash flow margin n/a n/a n/a n/a n/a n/a n/a −38,339.5% −18,637.0% −6,367.2%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow−3.2Capital expenditure−0.1Free cash flow−3.3Fiscal year 2017Operating cash flow−4.4Capital expenditure−0.2Free cash flow−4.5Fiscal year 2018Operating cash flow−4.4Capital expenditure−1.0Free cash flow−5.4Fiscal year 2019Operating cash flow−4.8Capital expenditure−0.2Free cash flow−5.0Fiscal year 2020Operating cash flow−4.9Capital expenditure−0.2Free cash flow−5.0Fiscal year 2021Operating cash flow−10.3Capital expenditure−1.1Free cash flow−11.4Fiscal year 2022Operating cash flow−10.5Capital expenditure−1.3Free cash flow−11.8Fiscal year 2023Operating cash flow−12.2Capital expenditure−3.3Free cash flow−15.5Fiscal year 2024Operating cash flow−15.6Capital expenditure−2.3Free cash flow−17.8Fiscal year 2025Operating cash flow−13.7Capital expenditure−1.3Free cash flow−15.1
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow −3.2 −4.4 −4.4 −4.8 −4.9 −10.3 −10.5 −12.2 −15.6 −13.7
Capital expenditure −0.1 −0.2 −1.0 −0.2 −0.2 −1.1 −1.3 −3.3 −2.3 −1.3
Free cash flow −3.3 −4.5 −5.4 −5.0 −5.0 −11.4 −11.8 −15.5 −17.8 −15.1
Growth

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
Cash
Fiscal year 2016Cash2.0Shareholders’ equity3.1Fiscal year 2017Cash3.5Shareholders’ equity5.0Fiscal year 2018Cash2.2Shareholders’ equity4.9Fiscal year 2019Cash2.2Shareholders’ equity4.9Fiscal year 2020Cash3.3Shareholders’ equity5.8Fiscal year 2021Cash23.4Shareholders’ equity25.2Fiscal year 2022Cash24.1Shareholders’ equity27.6Fiscal year 2023Cash31.4Shareholders’ equity36.4Fiscal year 2024Cash27.7Shareholders’ equity33.4Fiscal year 2025Cash69.0Shareholders’ equity74.6
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 2.0 3.5 2.2 2.2 3.3 23.4 24.1 31.4 27.7 69.0
Shareholders’ equity 3.1 5.0 4.9 4.9 5.8 25.2 27.6 36.4 33.4 74.6

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Margins
n/a n/a n/a n/a n/a n/a n/a 93.8% 92.3% n/a
n/a n/a n/a n/a n/a n/a n/a −52,405.5% −24,150.6% −8,765.5%
n/a n/a n/a n/a n/a n/a n/a n/a −23,571.0% −8,576.5%
n/a n/a n/a n/a n/a n/a n/a −51,943.2% −23,571.0% −8,576.5%
n/a n/a n/a n/a n/a n/a n/a −38,339.5% −18,637.0% −6,367.2%
Spending
n/a n/a n/a n/a n/a n/a n/a 39,266.4% 17,579.2% 4,850.9%
n/a n/a n/a n/a n/a n/a n/a 13,232.8% 6,663.7% 4,011.6%
n/a n/a n/a n/a n/a n/a n/a 8,128.5% 2,371.6% 562.3%
Returns
−144.0% −114.6% −117.6% −137.1% −116.3% −73.9% −62.5% −57.7% −67.4% −27.2%
−138.3% −98.3% −105.9% −98.6% −91.2% −68.4% −58.9% −50.3% −59.6% −25.7%
Balance and payout
4.0% 14.2% 10.0% 28.1% 21.6% 7.4% 5.8% 12.8% 11.6% 5.7%