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Lightwave Logic, Inc. (LWLG) stock

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NASDAQ: LWLG Nasdaq Electronic Components Next results ~November 10, 2026

Lightwave Logic, Inc. is a US-listed company in the electronic components industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

Under review: data-quality checks not passed.

Price vs value

Under review: data-quality checks not passed. We'll show the comparison once resolved.

Lightwave Logic, Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 6 selling0 purchases and 12 sales by directors and officers, last 12 monthsInsider trades
  • Funds119 adding, 66 cuttingOf 27 active managers that changed their stake, 15 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Lightwave Logic files

Where Lightwave Logic stands after its latest 10-Q

Lightwave Logic has little or no product revenue yet; it used $18m of cash in the twelve months to June 2026. The diluted share count is up 15.1% on a year earlier, which dilutes existing holders. It passes 2 of our 2 financial-health checks.

Our model value for Lightwave Logic is under review, so past values are not shown until it is resolved.

Source: 10-Q filed August 14, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 10, 2026 (estimated)

Lightwave Logic, Inc.'s trailing-twelve-month revenue grew 165.2% year on year, with a free-cash-flow margin of -7323.7%.

Current signal Balance sheet growing far ahead of sales: Total assets grew 233% year over year while revenue grew 165% — the balance sheet is expanding 68 points faster than the business it supports.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 165.2% over the last 12 months.
  • Margins widening. Operating margin is up 12360.7 points on a year ago.
  • Net cash. Cash exceeds long-term debt by $0.0bn.

Things to watch

  • Growth slowing. The growth rate is 10.7 points lower than a quarter earlier.
  • Loss-making. Operating margin is -9688.2%: costs exceed revenue.
  • Burning cash. Free cash flow was -7323.7% of revenue over the last 12 months.
  • Heavy stock-based pay. Stock pay equals 2440.2% of revenue: a real cost that cash-flow figures leave out.
  • Share dilution. Diluted shares rose 15.1% in a year.
  • High sales multiple. The shares trade at 2611 times revenue while operating margins remain thin.

Latest results: FY2026 Q2

Filed August 14, 2026
Revenue
$0m, up 27.9% on a year earlier
Next report
November 10, 2026; average EPS estimate -$0.05

Lightwave Logic's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-2.9%
  • 1 week+12.2%
  • 1 month-19.1%
  • This year+42.3%
  • 1 year-2.1%
  • 5 years-59.7%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$250,251
Operating margin
-9688.2%
Net margin
-9134.4%
EPS (TTM, diluted)
$-0.16

Growth

Revenue growth
+165.2%
Change in growth rate
−10.7 pts
Share count change
+15.1%

Cash

Free cash flow (TTM)
-$18.3M
FCF margin
-7323.7%
Stock pay % of revenue
2440.2%

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Leadership
  2. Leadership

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Lightwave Logic, Inc. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: data-quality checks not passed.

Valuation multiples over time Market data may be delayed

At fiscal year end 202320242025Now
Share price$4.98$2.10$3.24$4.61
Market value$575m$253m$417m$653m
+ Net debt (− = net cash)−$31m−$28m−$69m−$47m
Enterprise value$544m$226m$348m$606m
Multiples
Price / sales n/mn/mn/mn/m
Price / earnings ————
Price / free cash flow ————
EV / EBITDA ————

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 10, 2026, after the close. Analysts expect revenue of $60660 and EPS of −$0.05 (range −$0.05 to −$0.05) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current −$0.18 −13% $229050 —
Next −$0.20 — $3m +999%

Analyst recommendations

1 analysts, Oct 2026
Buy1100%
Hold00%
Sell00%

Monthly trend

  1. Oct 202611

Counts of recommendations published by analysts covering Lightwave Logic, Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
18.3%
of tradable shares
Days to cover
8.07
at average volume
Short interest, 1 month
+8%
to October 15, 2026
Held by institutions
38%
of shares
Held by insiders
1.0%
of shares
Employees
34
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months −2.1%

$4.71 on October 31, 2025 to $4.61

ThenNowEffect
Revenue (last 12 months) $94355 $250251 +165.2%
P/S multiple n/m n/m −57.5%
Share count 123m 142m −13.1%

Biggest factor: revenue. Loss-making at one end, so the split uses price/sales.

Last 3 years −4.8%

$4.84 on November 3, 2023 to $4.61

ThenNowEffect
Revenue (last 12 months) $2500 $250251 +9910.0%
P/S multiple n/m n/m −98.8%
Share count 113m 142m −20.1%

Biggest factor: revenue. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
LWLG+1500%−71%+16%−58%+54%+42%
Industry peers (median)+16%−12%+10%+11%+4%+19%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
LWLG75%42%33%25%50%36%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
LWLG−58%−75%−55%−66%−66%−78%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 96% from December 10, 2021 to April 21, 2025. Getting back needed a 2257% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$2.97 – $18.22
From 52-week high
−74.7%
vs 50-day average
−7.7%
vs 200-day average
−37.6%
Volatility (1 year)
120%
Beta vs S&P 500
3.52

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Fundamentals

Revenue (TTM) Lightwave Logic, Inc.
$0 $100K $200K $300K FY14 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY14 Q3: $2.5K Revenue (TTM), FY14 Q4: $2.5K Revenue (TTM), FY24 Q1: $70.9K Revenue (TTM), FY24 Q2: $90.3K Revenue (TTM), FY24 Q3: $113.2K Revenue (TTM), FY24 Q4: $95.6K Revenue (TTM), FY25 Q1: $88.1K Revenue (TTM), FY25 Q2: $94.4K Revenue (TTM), FY25 Q3: $100.6K Revenue (TTM), FY25 Q4: $236.9K Revenue (TTM), FY26 Q1: $243.1K Revenue (TTM), FY26 Q2: $250.3K $250.3K

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY14 Q3 $2.5K
FY14 Q4 $2.5K
FY24 Q1 $70.9K
FY24 Q2 $90.3K
FY24 Q3 $113.2K
FY24 Q4 $95.6K
FY25 Q1 $88.1K
FY25 Q2 $94.4K
FY25 Q3 $100.6K
FY25 Q4 $236.9K
FY26 Q1 $243.1K
FY26 Q2 $250.3K
Revenue growth, TTM YoY Lightwave Logic, Inc.
-50% 0% 50% 100% 150% 200% FY25 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY26 Q1 FY26 Q2 Revenue growth, TTM YoY, FY25 Q1: 24.2% Revenue growth, TTM YoY, FY25 Q2: 4.5% Revenue growth, TTM YoY, FY25 Q3: -11.1% Revenue growth, TTM YoY, FY25 Q4: 147.7% Revenue growth, TTM YoY, FY26 Q1: 175.9% Revenue growth, TTM YoY, FY26 Q2: 165.2% 165.2%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY25 Q1 24.2%
FY25 Q2 4.5%
FY25 Q3 -11.1%
FY25 Q4 147.7%
FY26 Q1 175.9%
FY26 Q2 165.2%
Operating margin (TTM) Lightwave Logic, Inc.
-40000% -30000% -20000% -10000% 0% FY24 Q1 FY24 Q3 FY25 Q1 FY25 Q3 FY26 Q2 Operating margin (TTM), FY24 Q1: -30904.0% Operating margin (TTM), FY24 Q2: -25273.8% Operating margin (TTM), FY24 Q3: -20078.2% Operating margin (TTM), FY24 Q4: -24150.6% Operating margin (TTM), FY25 Q1: -25133.3% Operating margin (TTM), FY25 Q2: -22048.9% Operating margin (TTM), FY25 Q3: -20561.9% Operating margin (TTM), FY25 Q4: -8467.6% Operating margin (TTM), FY26 Q1: -8998.5% Operating margin (TTM), FY26 Q2: -9688.2% -9688.2%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY24 Q1 -30904.0%
FY24 Q2 -25273.8%
FY24 Q3 -20078.2%
FY24 Q4 -24150.6%
FY25 Q1 -25133.3%
FY25 Q2 -22048.9%
FY25 Q3 -20561.9%
FY25 Q4 -8467.6%
FY26 Q1 -8998.5%
FY26 Q2 -9688.2%
FCF margin (TTM) Lightwave Logic, Inc.
-150000% -100000% -50000% 0% FY14 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY14 Q3: -125929.6% FCF margin (TTM), FY14 Q4: -134135.7% FCF margin (TTM), FY24 Q1: -24085.4% FCF margin (TTM), FY24 Q2: -19889.7% FCF margin (TTM), FY24 Q3: -16035.2% FCF margin (TTM), FY24 Q4: -18637.0% FCF margin (TTM), FY25 Q1: -18857.0% FCF margin (TTM), FY25 Q2: -16493.5% FCF margin (TTM), FY25 Q3: -14768.5% FCF margin (TTM), FY25 Q4: -6367.2% FCF margin (TTM), FY26 Q1: -6272.6% FCF margin (TTM), FY26 Q2: -7323.7% -7323.7%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY14 Q3 -125929.6%
FY14 Q4 -134135.7%
FY24 Q1 -24085.4%
FY24 Q2 -19889.7%
FY24 Q3 -16035.2%
FY24 Q4 -18637.0%
FY25 Q1 -18857.0%
FY25 Q2 -16493.5%
FY25 Q3 -14768.5%
FY25 Q4 -6367.2%
FY26 Q1 -6272.6%
FY26 Q2 -7323.7%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-Q, 10-Q/A. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2010 Dec 2010 2014 Dec 2014 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 0 0 0 0 0 0
Gross profit — — 0 0 0 0
EBITDA — −4 −20 −21 −19 −22
Operating income — −4 −21 −23 −21 −24
Net income −4 −4 −21 −23 −20 −23
Diluted EPS −$0.04 −$0.04 −$0.18 −$0.19 −$0.16 −$0.16
Growth (year on year)
Revenue — −21.9% +>999% +136.1% +147.7% +165.2%
Margins
Gross margin — — 93.8% 92.3% 97.1% 98.9%
EBITDA margin — <−999% <−999% <−999% <−999% <−999%
Operating margin — <−999% <−999% <−999% <−999% <−999%
Net margin <−999% <−999% <−999% <−999% <−999% <−999%
Free-cash-flow margin <−999% <−999% <−999% <−999% <−999% <−999%
Cash flow
Cash from operations −1 −3 −12 −16 −14 −16
Capital spending 0 0 3 2 1 2
Free cash flow −1 −3 −16 −18 −15 −18
Stock-based pay — 1 7 5 5 6
Free cash flow after stock pay — −4 −22 −23 −20 −24
Balance sheet
Cash 1 3 31 28 69 47
Total debt 0 0 0 0 0 0
Net debt (negative = net cash) −1 −3 −31 −28 −69 −47
Diluted shares — 111m 115m 121m 129m 142m

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 2 checks passed · June 30, 2026
What it owns · $108m
Short-term assets $98mLonger-term assets $10m
What it owes, and who funded it · $108m
Short-term liabilities $2mLonger-term liabilities $2mShareholders' equity $104m
  • Short-term assets cover short-term liabilities $98m of assets due within a year against $2m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $98m short-term assets against $2m of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Lightwave Logic, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Diluted share count
+15.1%
year over year
R&D spending
5245.7%
of revenue
Days sales outstanding
24 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in electronic components
Last 12 months unless stated LWLG BURU HIHO KULR HLP OST Median
Revenue, last 12 months $250251 $932571 $5m $16m $20m $40m $628m
Revenue growth, last 12 months 165.2% >999% −35.2% 24.6% 39.0% 22.2% 16.1%
Revenue growth, 3-year average 364.3% −30.9% −40.6% 27.2% — — 6.1%
Revenue growth, latest quarter 27.9% −100.0% — −43.0% — — 19.4%
Gross margin 98.9% −61.5% 28.4% −1.7% 32.5% 6.4% 36.7%
Operating margin <−999% <−999% −48.0% −270.6% 12.4% −22.9% 7.9%
Operating margin, 3-year average <−999% <−999% −11.1% −223.8% — — 8.0%
Net margin <−999% <−999% −31.7% −648.0% 9.9% −25.2% 5.6%
Cash from operations / revenue <−999% <−999% −29.4% −260.6% 4.5% 0.2% 10.2%
Free-cash-flow margin <−999% <−999% −31.5% −280.0% 3.4% −17.9% 3.6%
Free-cash-flow margin, 3-year average <−999% — −7.6% −213.5% — — 8.1%
Stock pay / revenue >999% 150.3% 2.5% 35.9% 14.0% — 2.0%
Change in share count 15.1% — 3.5% 41.5% 320.8% >999% 3.5%

Median of all 27 companies we cover in electronic components. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Who owns it

Funds buying and selling
Reported value
$544M
Institutions reporting
171
Shares held vs prior quarter
▲ 37.9%
Positions opened / closed
73 / 36

Top buyers and sellers, Q2 2026: 119 institutions bought and 66 sold ; the biggest buyer was Blackrock, Inc (+9.8M shares) and the biggest seller Marshall Wace, LLP (−2.8M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $116M 12.3M 21.4% ▲ 398.2%
Vanguard Capital Management LLC $62M 6.6M 11.4% ▲ 7.2%
State Street Corp $42M 4.4M 7.7% ▲ 160.9%
Vanguard Portfolio Management LLC $41.9M 4.4M 7.7% ▲ 43.9%
Geode Capital Management, LLC $38.5M 4.1M 7.1% ▲ 118.8%
Marshall Wace, LLP $28.9M 3.1M 5.3% ▼ 48.2%
UBS Group AG $27.6M 2.9M 5.1% ▲ 546.7%
Northern Trust Corp $13.1M 1.4M 2.4% ▲ 316.3%
Charles Schwab Investment Management Inc $12M 1.3M 2.2% ▲ 45.7%
Jane Street Group, LLC $11M 1.2M 2.0% ▼ 1.1%
Vanguard Fiduciary Trust Co $10.2M 1.1M 1.9% ▲ 22.3%
LPL Financial LLC $8.9M 936K 1.6% ▲ 13.8%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Lightwave Logic, Inc.'s complete shareholder register. Values are as reported by the filers ; 1 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $1.4M 12 trades by 6 insiders · 0% under pre-set plans
Net ▼ $1.4M net selling
Insider Date Trade Shares Price Value
Quan Snizhana P. Principal Financial Officer June 1, 2026 Sell 345 $11.41 $3,936
Quan Snizhana P. Principal Financial Officer April 10, 2026 Sell 20,000 $10.36 $207,200
El-Ahmadi Siraj Nour Director April 7, 2026 Sell 54,536 $7.76 $423,199
Connelly Thomas M Jr Director April 6, 2026 Sell 9,000 $8.52 $76,680
Partridge Laila Director April 1, 2026 Sell 11,000 $6.84 $75,240
Bucchi Ronald A Director April 1, 2026 Sell 11,000 $6.92 $76,120
Ciesla Craig Director April 1, 2026 Sell 11,000 $6.81 $74,910
Quan Snizhana P. Principal Financial Officer March 30, 2026 Sell 25,000 $7.27 $181,750
El-Ahmadi Siraj Nour Director January 27, 2026 Sell 25,591 $3.48 $89,057
Connelly Thomas M Jr Director January 2, 2026 Sell 7,600 $3.25 $24,700
Partridge Laila Director December 31, 2025 Sell 10,000 $3.72 $37,200
El-Ahmadi Siraj Nour Director December 31, 2025 Sell 49,260 $3.15 $155,169

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Recent SEC filings

Data status

When each part of this page on Lightwave Logic, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Lightwave Logic, Inc. in brief

What does Lightwave Logic, Inc. do?
Lightwave Logic, Inc. is a US-listed company in the electronic components industry. Its financial year ends in December.
What is Lightwave Logic, Inc.'s stock ticker?
Lightwave Logic, Inc. trades under the ticker LWLG on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Lightwave Logic, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Lightwave Logic, Inc. reported revenue of $250,251, 165.2% higher than a year earlier, according to its SEC filings.
What is Lightwave Logic, Inc.'s free cash flow?
Lightwave Logic, Inc.'s free-cash-flow margin is -7323.7% of revenue over the trailing twelve months.
Who are Lightwave Logic, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Vanguard Capital Management LLC and State Street Corp. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Lightwave Logic, Inc.'s market cap?
On November 2, 2026, Lightwave Logic, Inc.'s market capitalisation was about $653M and net debt of -$47.2M. Market figures come from third-party market data and may be delayed.
Who are Lightwave Logic, Inc.'s competitors?
In our Electronic Components peer group, the companies closest to Lightwave Logic, Inc. are Nuburu, Inc., Highway Holdings LTD, Kulr Technology Group, Inc., Hongli Group Inc. and Ostin Technology Group Co., Ltd. The side-by-side comparison below sets their revenue, margins and growth against Lightwave Logic, Inc.'s.
Are insiders buying or selling Lightwave Logic, Inc. stock?
Over the last 12 months, Lightwave Logic, Inc.'s directors and officers reported 0 open-market purchases and 12 sales on Form 4. The insider trading page charts every trade.
When is Lightwave Logic, Inc.'s next earnings date?
Around November 10, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Lightwave Logic, Inc. announces its own schedule.