Innovative Eyewear, Inc.
LUCY Healthcare Medical Instruments & Supplies
Innovative Eyewear, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $2.7 million, up 62.7% from fiscal 2024. In the quarter to June 2026, revenue grew 74.5%, EPS grew 60.6%, free cash flow grew 9.61% and total debt fell 92.4%, each against the same quarter a year earlier. Revenue growth for three consecutive years; insiders bought in the last twelve months.
Follow LUCY
Innovative Eyewear, Inc. (LUCY) Altman Z-score
Innovative Eyewear, Inc.'s Altman Z-score for fiscal 2025 is −3.75, in the distress zone (below 1.81).
Altman Z-score, annual
Embed this chart
Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | −3.75 | (4.72) |
| FY2024 | 0.97 | 2.57 |
| FY2023 | −1.61 | (3.74) |
| FY2022 | 2.14 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.83 | — | 0.99 | |
| Retained earnings / total assets | (3.19) | — | −4.46 | |
| EBIT / total assets | (0.84) | — | −2.76 | |
| Market value of equity / total liabilities | 3.71 | — | 2.22 | |
| Sales / total assets | 0.26 | — | 0.26 | |
| Altman Z-score | Distress zone | −3.75 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −1.73 | ||
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| NXGL NexGel, Inc. compare | 24.6× |
| MHUAF Meihua International Medical Technologies Co., Ltd. compare | 2.0× |
| RVP Retractable Technologies, Inc. compare | 0.6× |
| CUPR Cuprina Holdings (Cayman) Limited compare | −1.0× |
| LUCY Innovative Eyewear, Inc. | −3.7× |
| FEMY Femasys Inc. compare | −10.9× |
| BNGO Bionano Genomics, Inc. compare | −14.3× |
| MLSS Milestone Scientific, Inc. compare | −22.1× |
| RGNT Regentis Biomaterials Ltd. compare | — |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets