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Friday 6 November 2026
Export LWLG’s income statement to Excel — free account
Lightwave Logic Inc.
LWLG Basic Materials Specialty Chemicals
Lightwave Logic Inc.’s revenue for fiscal 2025 (year ended December 2025) was $236,900.00, up 147.8% from fiscal 2024.
- Revenue
- +28.1%
- EPS
- −1.01%
- Free cash flow
- −79.8%
Quarter to June 2026, against a year earlier
4.13
0.31
+8.12%
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Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM Jun ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | — | — | — | — | — | — | — | 0 | 0 | 0 | 0 | +141.9% | 0 | 3 | 15 | +300.2% | |
| Gross margin, % | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 93.83 | 92.26 | 97.09 | 98.88 | +97.1 pt | ||||||
| EBT | (4) | (6) | (6) | (7) | (7) | (19) | (17) | (21) | (23) | (20) | (24) | +18.5% | ||||||
| EBT margin, % | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | (51,945.68) | (23,572.18) | (8,574.84) | (9,410.74) | (8,574.8) pt | ||||||
| Net income | (4) | (6) | (6) | (7) | (7) | (19) | (17) | (21) | (23) | (20) | (24) | +18.5% | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | n/m | |||||
| Earnings | (0.07) | (0.08) | (0.08) | (0.08) | (0.07) | (0.18) | (0.15) | (0.18) | (0.19) | (0.16) | (0.16) | +9.6% | ||||||
| Cash flow | (0.05) | (0.06) | (0.06) | (0.06) | (0.05) | (0.10) | (0.09) | (0.11) | (0.13) | (0.11) | (0.11) | +9.4% | ||||||
| Capex | 0.00 | 0.00 | (0.02) | 0.00 | 0.00 | (0.01) | (0.01) | (0.03) | (0.02) | (0.01) | (0.02) | +20.7% | ||||||
| Free cash flow | (0.05) | (0.07) | (0.08) | (0.06) | (0.06) | (0.11) | (0.11) | (0.14) | (0.15) | (0.12) | (0.12) | +10.2% | ||||||
| Book value | 0.05 | 0.07 | 0.06 | 0.06 | 0.06 | 0.24 | 0.25 | 0.32 | 0.28 | 0.58 | 0.68 | +32.5% | ||||||
| Shares, m | 66 | 71 | 76 | 83 | 92 | 105 | 112 | 115 | 121 | 129 | 140 | +7.7% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | — | — | — | — | — | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.0 | |||||
| P/S | — | — | — | — | — | — | — | 0.00 | 2,649.16 | 1,759.21 | 2,353.68 | 1,469.5 | ||||||
| P/B | — | — | — | — | — | — | — | 14.58 | 7.58 | 5.58 | 5.65 | 9.2 | ||||||
| EV/Sales | — | — | — | — | — | — | — | 0.00 | 2,359.75 | 1,467.88 | 1,970.65 | 1,275.9 | ||||||
| EV/FCF | — | — | — | — | — | — | — | (31.56) | (12.36) | (22.34) | (26.04) | (22.1) | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | (3) | (4) | (4) | (5) | (5) | (10) | (11) | (12) | (16) | (14) | (16) | +17.8% | |||||
| Capex | 0 | 0 | (1) | 0 | 0 | (1) | (2) | (4) | (3) | (2) | (3) | +29.8% | ||||||
| Free cash flow | (3) | (5) | (6) | (5) | (5) | (11) | (12) | (16) | (18) | (16) | (19) | +18.7% | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | 2 | 3 | 2 | 2 | 3 | 22 | 24 | 30 | 26 | 68 | 97 | +48.2% | |||||
| Net debt | (2) | (3) | (2) | (2) | (3) | (23) | (24) | (31) | (28) | (69) | (96) | +48.6% | ||||||
| Shareholders’ equity | 3 | 5 | 5 | 5 | 6 | 25 | 28 | 36 | 33 | 75 | 104 | +42.6% | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | (106.23) | (127.24) | (102.16) | (109.59) | (94.64) | (107.71) | (61.00) | (59.22) | (56.63) | (34.73) | (33.54) | +71.5 pt | |||||
| ROIC | (234.40) | (224.99) | (128.11) | (147.85) | (167.09) | (599.58) | (310.43) | (265.23) | (250.71) | (230.54) | (187.60) | +3.9 pt | ||||||
| ROE | (109.27) | (142.38) | (116.35) | (137.08) | (125.72) | (120.28) | (65.32) | (65.76) | (64.52) | (37.59) | (35.42) | +71.7 pt | ||||||
| People | ||||||||||||||||||
| People | Employees | — | 16 | 17 | 18 | 19 | 19 | 21 | 33 | 31 | 34 | — | +9.9% | |||||
| Revenue/emp, $m | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 | — | n/m | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Jun 2026
Lightwave Logic Inc. vs peers in Specialty Chemicals (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| ECVT Ecovyst Inc. | $1.1B | — (loss-making) | 14.5× | +41.97% (above 0%: growing) | +40.00% (above 0%: growing) | −66.55% (below 0%: shrinking) | 19.94% | 7.75% | Compare |
| ODC Oil-Dri Corporation Of America | $920.5M | 16.5× | 37.5× | +3.26% (above 0%: growing) | +11.46% (above 0%: growing) | −20.76% (below 0%: shrinking) | 27.83% | 14.11% | Compare |
| KRO Kronos Worldwide Inc | $819.5M | — (loss-making) | — (loss-making) | +18.43% (above 0%: growing) | n/m | +326.44% (above 0%: growing) | 23.54% | 10.70% | Compare |
| KOP Koppers Holdings Inc. | $749.7M | — (loss-making) | — (loss-making) | +3.03% (above 0%: growing) | n/m | −2.84% (below 0%: shrinking) | 20.96% | (31.92%) | Compare |
| MATV Mativ Holdings, Inc. | $682.2M | 7.5× | — (loss-making) | −2.76% (below 0%: shrinking) | n/m | −28.57% (below 0%: shrinking) | 19.56% | 3.98% | Compare |
| LWLG Lightwave Logic Inc. | $588.2M | — (loss-making) | — (loss-making) | +28.13% (above 0%: growing) | n/m | −79.80% (below 0%: shrinking) | 100.00% | (22,161.89%) | |
| ASPN Aspen Aerogels, Inc. | $428.2M | — (loss-making) | — (loss-making) | +16.66% (above 0%: growing) | n/m | −93.09% (below 0%: shrinking) | 24.15% | (8.36%) | Compare |
| MNTK Montauk Renewables, Inc. | $343.0M | 38.8× | 16.6× | +19.71% (above 0%: growing) | n/m | +60.35% (above 0%: growing) | 100.00% | (0.14%) | Compare |
| OEC Orion S.A. | $235.7M | — (loss-making) | — (loss-making) | +4.86% (above 0%: growing) | n/m | +64.87% (above 0%: growing) | 19.20% | 4.82% | Compare |
| Median of peers | $715.9M | 16.5× | 16.6× | +10.76% | — | −11.80% | 22.25% | 4.40% |
Pay and ownership Proxy statement filed 10 April 2026
Ownership
Directors and executive officers, together
2.21%
100 Vanguard Blvd., Malvern, PA
5.57%
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more.
Read the proxy statement