Growth & profitability
- Revenue has grown 141.8% per year over the past 5 years.
Financial health
- The company is unprofitable; at its current free-cash-flow burn it has roughly 4.6 years of cash runway.
LWLG Financials Lightwave Logic, Inc.
15 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Overview →
RevenueNet income
GrossOperatingNet
ROEROA
Free cash flow
CashTotal debt
OperatingInvestingFinancing
Key annual figures
| FY | Revenue | Net income | Gross M | Op M | ROE | ROA | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|---|---|
| 2025 | $236855 | -$20M | 97.1% | -8765.5% | -27.2% | -25.7% | -$15M | — | $69M |
| 2024 | $95605 | -$23M | 92.3% | -24150.6% | -67.4% | -59.6% | -$18M | — | $28M |
| 2023 | $40502 | $21M | 93.8% | -52405.5% | 57.7% | 50.3% | -$16M | — | $31M |
| 2022 | — | -$17M | — | — | -62.5% | -58.9% | -$12M | — | $24M |
| 2021 | — | -$19M | — | — | -73.9% | -68.4% | -$11M | — | $23M |
| 2020 | — | -$7M | — | — | -116.3% | -91.2% | -$5M | — | $3M |
| 2019 | — | -$7M | — | — | -137.1% | -98.6% | -$5M | — | $2M |
| 2018 | — | -$6M | — | — | -117.6% | -105.9% | -$5M | — | $2M |
| 2017 | — | -$6M | — | — | -114.6% | -98.3% | -$5M | — | $3M |
| 2016 | — | -$4M | — | — | -144.0% | -138.3% | -$3M | — | $2M |
| 2015 | — | -$5M | — | — | -96.8% | -94.8% | -$4M | — | $4M |
| 2014 | — | -$4M | — | — | -108.7% | -103.0% | -$3M | — | $3M |
| 2014 | — | -$33M | — | — | -1269.1% | -1134.1% | -$15M | — | $2M |
| 2013 | — | -$4M | — | — | -125.3% | -120.6% | -$3M | — | $2M |
| 2013 | — | -$31M | — | — | -970.0% | -867.4% | -$14M | — | $3M |
RevenueNet income
GrossOperatingNet
ROEROA
Free cash flow
CashTotal debt
OperatingInvestingFinancing
Key quarterly figures
| Quarter | Revenue | Net income | Gross M | Op M | ROE | ROA | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|---|---|
| Jun '26 | $32751 | -$7M | 100.0% | -22195.2% | -6.3% | -6.1% | -$7M | — | $47M |
| Mar '26 | $29167 | -$6M | 95.4% | -23058.0% | -7.7% | -7.3% | -$5M | — | $75M |
| Dec '25 | $159167 | -$5M | 99.2% | -3186.1% | -6.5% | -6.1% | -$4M | — | $69M |
| Sep '25 | $29166 | -$5M | 100.0% | -17757.5% | -12.4% | -11.4% | -$3M | — | $35M |
| Jun '25 | $25605 | -$5M | 86.5% | -19137.6% | -17.2% | -15.3% | -$4M | — | $22M |
| Mar '25 | $22917 | -$5M | 91.2% | -21405.0% | -14.9% | -13.2% | -$4M | — | $25M |
| Dec '24 | $22917 | -$6M | 95.7% | -24879.3% | -16.6% | -14.6% | -$3M | — | $28M |
| Sep '24 | $22916 | -$5M | 94.6% | -23115.3% | -15.8% | -14.2% | -$4M | — | $27M |
| Jun '24 | $19355 | -$6M | 100.0% | -32237.5% | -16.9% | -15.1% | -$5M | — | $29M |
| Mar '24 | $30417 | -$6M | 83.0% | -19235.5% | -15.3% | -13.6% | -$6M | — | $32M |
| Dec '23 | — | -$5M | — | — | -13.6% | -11.8% | -$4M | — | $31M |
| Sep '23 | — | -$5M | — | — | -14.6% | -13.2% | -$4M | — | $31M |
| Jun '23 | — | -$5M | — | — | -14.8% | -13.5% | -$4M | — | $33M |
| Mar '23 | — | -$5M | — | — | -18.4% | -17.8% | -$4M | — | $26M |
| Dec '22 | — | -$5M | — | — | -18.4% | -17.3% | -$3M | — | $24M |
| Sep '22 | — | -$5M | — | — | -16.7% | -15.9% | -$3M | — | $25M |
| Jun '22 | — | -$4M | — | — | -13.6% | -13.1% | -$3M | — | $25M |
| Mar '22 | — | -$4M | — | — | -13.3% | -12.7% | -$3M | — | $24M |
| Dec '21 | — | -$8M | — | — | -32.2% | -29.8% | -$6M | — | $23M |
| Sep '21 | $0 | -$4M | — | — | -28.4% | -26.3% | -$2M | — | $12M |
Valuation over time
How the market has priced LWLG against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.
- The price-to-earnings ratio has fallen from 31.7× (Jan '24) to 21.1× (Nov '24).
- The price-to-sales ratio has fallen from 16443.7× (Jan '24) to 3055.9× (Nov '26).
P/E
P/S
Frequently asked questions
Is LWLG growing its revenue and profit?
Over the past 5 years, Lightwave Logic, Inc.'s revenue has grown 141.8% per year. These are computed facts, not advice.
How much debt does LWLG have?
As of FY2025, Lightwave Logic, Inc. reported — of total debt against $69M of cash.
What is LWLG's profit margin?
In FY2025, gross margin was 97.1%, operating margin -8765.5%, and net margin -8576.5%.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), split-adjusted; price return — dividends not reinvested · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.