Lightwave Logic Inc (LWLG) financial statements: income statement, balance sheet and cash flow
Lightwave Logic Inc's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Lightwave Logic Inc reported revenue of $236.9K (+147.7% year on year) and net income of ($20.3M) (+9.9% year on year).
Income statement
Lightwave Logic Inc income statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Net sales
$236.9K
$95.6K
$40.5K
—
Cost of Revenue
$6.8K
$7.4K
$2.5K
—
Research and Development Expense
$11.5M
$16.8M
$15.9M
$12.8M
Selling, General and Administrative Expense
$9.5M
$6.4M
$5.4M
$4.3M
TOTAL COST AND EXPENSE
$21.0M
$23.2M
$21.3M
$17.1M
LOSS FROM OPERATIONS
($20.8M)
($23.1M)
($21.2M)
($17.1M)
Interest and Dividend Income (Non-Bank)
$842.4K
$926.9K
$657.5K
$91.7K
Commitment fee
($370.3K)
($154.2K)
($673.6K)
($209.7K)
Non-Operating Income (Expense)
($25.2K)
($213.4K)
—
—
Non-Operating Income (Expense)
$645
($5.1K)
($12.2K)
—
NET LOSS
($20.3M)
($22.5M)
($21.0M)
($17.2M)
Earnings Per Share (Diluted)
-$0.16
-$0.19
-$0.18
-$0.15
Weighted Average Shares Outstanding, Diluted
128.6M
120.6M
115.5M
111.8M
Lightwave Logic Inc income statement, quarters
Line item
Jun 30, 2026 · Q2
Mar 31, 2026 · Q1
Sep 30, 2025 · Q3
Jun 30, 2025 · Q2
Revenue
$32.8K
$29.2K
$29.2K
$25.6K
Research and Development Expense
$3.9M
$3.5M
$2.9M
$2.6M
Selling, General and Administrative Expense
$3.4M
$3.3M
$2.3M
$3.0M
TOTAL COST AND EXPENSE
$7.3M
$6.8M
$5.2M
$5.6M
LOSS FROM OPERATIONS
($7.3M)
($6.7M)
($5.2M)
($5.6M)
Interest and Dividend Income (Non-Bank)
$652.1K
$461.3K
$193.3K
$168.3K
Non-Operating Income (Expense)
($5.3K)
($36.4K)
($34.4K)
—
Non-Operating Income (Expense)
$8.5K
($76)
($119)
$1.1K
NET LOSS
($6.6M)
($6.3M)
($5.1M)
($5.7M)
Net unrealized holding loss on available-for-sale debt securities
($48.9K)
—
—
—
COMPREHENSIVE LOSS
($6.7M)
—
—
—
Earnings Per Share (Basic)
-$0.04
-$0.04
-$0.04
-$0.05
Earnings Per Share (Diluted)
-$0.04
-$0.04
-$0.04
-$0.05
Weighted Average Shares Outstanding
153.5M
148.1M
129.6M
125.3M
Weighted Average Shares Outstanding, Diluted
153.5M
148.1M
129.6M
125.3M
Balance sheet
Lightwave Logic Inc balance sheet, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Cash and Cash Equivalents
$69.0M
$27.7M
$31.4M
$24.1M
Accounts Receivable
$190.8K
$45.6K
$30.4K
$642.1K
Other Non-Operating Current Assets
$601.1K
$401.7K
$1.2M
$611.3K
TOTAL CURRENT ASSETS
$69.8M
$28.1M
$32.7M
$25.4M
Property, Plant and Equipment
$5.2M
$5.7M
$5.0M
$2.5M
Intangible Assets
$1.7M
$1.4M
$1.3M
$1.0M
Operating Lease Right-of-Use Asset
$2.4M
$2.6M
$2.8M
$358.3K
TOTAL OTHER ASSETS
$4.2M
$4.0M
$4.1M
$1.4M
TOTAL ASSETS
$79.2M
$37.8M
$41.8M
$29.3M
Accounts Payable
$477.9K
$516.0K
$1.4M
$791.7K
Other Current Liabilities
$1.4M
$877.2K
$599.4K
$380.3K
Accounts payable and accrued expenses - related parties
$56.3K
$200.8K
$313.5K
—
Contract liability
$6.5K
$23.2K
—
—
Operating Lease Liability, Current
$194.8K
$168.3K
$144.1K
$190.1K
TOTAL CURRENT LIABILITIES
$2.1M
$1.8M
$2.6M
$1.5M
Operating lease liability
$2.4M
$2.6M
$2.8M
$168.1K
TOTAL LONG TERM LIABILITIES
$2.4M
$2.6M
$2.8M
$206.4K
TOTAL LIABILITIES
$4.5M
$4.4M
$5.3M
$1.7M
Total Stockholders' Equity
$146.1K
$123.3K
$118.1K
$112.9K
Additional Paid-In Capital
$242.0M
$184.4M
$164.6M
$134.4M
Deferred compensation
($203.5K)
($656.7K)
($432.3K)
($133.3K)
Retained Earnings
($167.3M)
($150.4M)
($127.9M)
($106.8M)
TOTAL STOCKHOLDERS' EQUITY
$74.6M
$33.4M
$36.4M
$27.6M
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY
$79.2M
$37.8M
$41.8M
$29.3M
Lightwave Logic Inc balance sheet, quarters
Line item
Jun 30, 2026
Mar 31, 2026
Sep 30, 2025
Jun 30, 2025
Cash and Cash Equivalents
$47.2M
$75.1M
$34.9M
$22.1M
Short-Term Investments
$48.7M
—
—
—
Accounts Receivable
$16.1K
$215.8K
$35.8K
$10.8K
Other Non-Operating Current Assets
$2.1M
$1.2M
$482.7K
$638.9K
TOTAL CURRENT ASSETS
$98.1M
$76.5M
$35.5M
$22.8M
Property, Plant and Equipment
$5.8M
$5.2M
$5.3M
$5.7M
Intangible Assets
$1.9M
$1.8M
$1.5M
$1.4M
Operating Lease Right-of-Use Asset
$2.3M
$2.4M
$2.5M
$2.5M
TOTAL OTHER ASSETS
$4.2M
$4.2M
$4.0M
$4.0M
TOTAL ASSETS
$108.1M
$85.9M
$44.8M
$32.4M
Accounts Payable
$445.4K
$779.7K
$388.5K
$320.5K
Other Current Liabilities
$806.3K
$1.3M
$403.6K
$434.2K
Other Current Liabilities
$100.0K
$2.4K
$10.7K
$14.9K
Operating Lease Liability, Current
$209.1K
$201.8K
$187.9K
$181.2K
TOTAL CURRENT LIABILITIES
$1.6M
$2.3M
$1.1M
$1.1M
Operating Lease Liability, Non-Current
$2.3M
$2.4M
$2.5M
$2.5M
TOTAL LONG TERM LIABILITIES
$2.3M
$2.4M
$2.5M
$2.5M
TOTAL LIABILITIES
$3.9M
$4.6M
$3.6M
$3.6M
Total Stockholders' Equity
$154.2K
$150.5K
$132.7K
$126.5K
Additional Paid-In Capital
$284.5M
$254.9M
$207.2M
$189.8M
Deferred compensation
($112.8K)
($160.2K)
($272.3K)
($353.1K)
Retained Earnings
($180.2M)
($173.6M)
($165.9M)
($160.8M)
Accumulated Other Comprehensive Income
($48.9K)
—
—
—
TOTAL STOCKHOLDERS' EQUITY
$104.2M
$81.3M
$41.2M
$28.8M
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY
$108.1M
$85.9M
$44.8M
$32.4M
Cash flow statement
Lightwave Logic Inc cash flow statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Net loss
($20.3M)
($22.5M)
($21.0M)
($17.2M)
Net Cash from Operating Activities
$2.1M
$4.4M
$6.5M
—
Amortization of deferred compensation
$551.5K
$446.6K
$262.7K
$91.7K
Performance stock units issued for services
$801.6K
—
—
—
Restricted stock units issued for services
$1.3M
—
—
—
Common stock issued for commitment shares
370.3K
154.2K
—
—
Depreciation Expense
$1.9M
$1.7M
$1.1M
$1.0M
Net Cash from Operating Activities
$205.4K
$192.5K
$673.6K
$209.7K
Loss on disposal of property and equipment and intangible assets
$25.2K
$213.4K
—
—
Accounts receivable
($145.2K)
($15.2K)
($30.4K)
—
Prepaid expenses and other current assets
($199.4K)
$835.9K
($587.5K)
($379.0K)
Accounts payable
($38.0K)
($931.6K)
$655.9K
$575.9K
Change in Accrued Liabilities
$89.8K
$277.7K
$219.2K
($737.8K)
Change in Accounts Payable
($144.5K)
($112.7K)
$213.3K
$68.0K
Change in Deferred Revenue
($16.7K)
($16.7K)
$39.9K
—
Net Cash from Operating Activities
($168.3K)
($144.1K)
$184.8K
—
Net cash used in operating activities
($13.7M)
($15.6M)
($12.2M)
($10.5M)
Cost of intangibles
($485.4K)
($430.5K)
($307.7K)
($260.4K)
Purchase of property and equipment
($1.3M)
($2.3M)
($3.3M)
($1.3M)
Net cash used in investing activities
($1.8M)
($2.7M)
($3.0M)
($2.2M)
Exercise of options and warrants
$355.6K
$337.4K
$1.0M
$653.9K
Cashless option exercise tax payments
($171.9K)
—
—
($84.0K)
Tax payment on net settlement of vested restricted stock awards
($12.9K)
—
—
—
Issuance of common stock, institutional investor
$5.1M
$12.4M
$20.0M
$12.8M
Issuance of common stock to investment bank
$32.8M
—
—
—
Common stock sales at the market by investment banking company
$18.8M
$1.8M
—
—
Net cash provided by financing activities
$56.9M
$14.5M
$22.5M
$13.3M
NET DECREASE IN CASH AND CASH EQUIVALENTS
$41.3M
($3.8M)
$7.3M
$669.5K
CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD
$27.7M
$31.4M
$24.1M
—
CASH AND CASH EQUIVALENTS - END OF PERIOD
$69.0M
—
—
—
Options issued to settle accrued bonuses
$48.1K
—
—
—
Trade-in credit for purchase of property and equipment
$28.8K
—
—
—
Restricted stock awards issued for services
$169.8K
—
—
—
Lightwave Logic Inc cash flow statement, quarters
Line item
Jun 30, 2026 · YTD
Mar 31, 2026 · Q1
Sep 30, 2025 · YTD
Jun 30, 2025 · YTD
Net loss
($12.9M)
($6.3M)
($15.5M)
($10.4M)
Net Cash from Operating Activities
$950.4K
$331.5K
$1.7M
$1.3M
Amortization of deferred compensation
$182.2K
$43.3K
$482.6K
$401.9K
Restricted stock units issued for services
$2.4M
$1.3M
$489.0K
$11.1K
Depreciation Expense
$987.3K
$496.4K
$1.4M
$943.1K
Net Cash from Operating Activities
$108.1K
$53.6K
$152.7K
$100.9K
Accretion of interest on marketable securities
($33.7K)
—
—
—
(Gain) loss on disposal of property and equipment and intangible assets
$41.7K
$36.4K
$5.6K
($28.8K)
Accounts receivable
$174.6K
($25.0K)
$9.8K
$34.8K
Prepaid expenses and other current assets
($1.5M)
($582.4K)
($81.0K)
($237.1K)
Accounts payable
($32.5K)
$301.8K
($127.5K)
($195.4K)
Change in Accrued Liabilities
($112.6K)
$348.0K
($425.5K)
($394.9K)
Change in Accounts Payable
($56.3K)
($56.3K)
($49.7K)
($53.4K)
Change in Deferred Revenue
$93.5K
($4.2K)
($12.5K)
($8.3K)
Net Cash from Operating Activities
($94.9K)
($46.5K)
($124.7K)
($81.9K)
Net cash used in operating activities
($9.9M)
($4.1M)
($10.4M)
($7.3M)
Cost of intangibles
($245.4K)
($170.9K)
($273.2K)
($108.3K)
Purchase of property and equipment
($1.5M)
($450.5K)
($953.2K)
($893.9K)
Purchases of marketable securities
($48.7M)
—
—
—
Net cash used in investing activities
($50.5M)
($621.4K)
($1.2M)
($1.0M)
Exercise of options and warrants
$8.3M
$1.9M
$250.7K
$204.0K
Tax payment on net issuance of vested restricted stock units
($2.1M)
($2.1M)
—
—
Tax payment on net issuance of performance stock units
($481.1K)
($481.1K)
—
—
Issuance of common stock to investment bank
$4.9M
$4.9M
—
—
Common stock sales at the market by investment banking company