{ "ok": true, "cik": "1325964", "ticker": "LWLG", "name": "Lightwave Logic, Inc.", "filings": [ { "form": "8-K", "filed": "2026-09-29", "items": [ "5.02 Departure or Election of Directors; Appointment of Officers", "7.01 Regulation FD Disclosure", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/1325964/000107997326001303/0001079973-26-001303-index.htm" }, { "form": "10-Q", "filed": "2026-08-14", "items": [], "url": "https://www.sec.gov/Archives/edgar/data/1325964/000107997326001097/0001079973-26-001097-index.htm" }, { "form": "8-K", "filed": "2026-07-20", "items": [ "5.02 Departure or Election of Directors; Appointment of Officers", "7.01 Regulation FD Disclosure", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/1325964/000107997326000955/0001079973-26-000955-index.htm" }, { "form": "8-K", "filed": "2026-05-27", "items": [ "5.07 Submission of Matters to a Vote of Security Holders" ], "url": "https://www.sec.gov/Archives/edgar/data/1325964/000107997326000741/0001079973-26-000741-index.htm" }, { "form": "10-Q", "filed": "2026-05-15", "items": [], "url": "https://www.sec.gov/Archives/edgar/data/1325964/000155335026000087/0001553350-26-000087-index.htm" }, { "form": "8-K", "filed": "2026-04-21", "items": [ "1.01 Entry into a Material Definitive Agreement", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/1325964/000107997326000513/0001079973-26-000513-index.htm" } ], "events12m": 10, "healthWatch": { "window": "last 12 months", "since": "2025-09-30", "signals": [ { "code": "4.02", "label": "Earlier statements no longer to be relied on", "count": 1, "latest": { "filed": "2026-01-20", "url": "https://www.sec.gov/Archives/edgar/data/1325964/000107997326000096/0001079973-26-000096-index.htm" } }, { "code": "5.02", "label": "Director or officer change", "count": 4, "latest": { "filed": "2026-09-29", "url": "https://www.sec.gov/Archives/edgar/data/1325964/000107997326001303/0001079973-26-001303-index.htm" } } ], "note": "Events the company itself filed with the SEC, most serious first. Shown beside the figures; they do not change the range or its receipt." }, "sources": { "facts": "https://data.sec.gov/api/xbrl/companyfacts/CIK0001325964.json", "filings": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1325964" }, "license": "Figures as filed with the SEC. Card text CC BY 4.0, POPS4.", "notAdvice": "Reporting, not investment advice. No price targets and no trading recommendations.", "edgar": "🫧 Edgar looked up Lightwave Logic, Inc. ($LWLG). Last filing: 8-K (5.02 Departure or Election of Directors; Appointment of Officers), 2026-09-29. 10 event filings (8-K) in the past twelve months. Auditor change (8-K Item 4.01) filed 2024-10-04. Non-reliance (8-K Item 4.02) filed 2026-01-20.", "auditor": { "changes": [ { "filed": "2024-10-04", "url": "https://www.sec.gov/Archives/edgar/data/1325964/000107997324001354/0001079973-24-001354-index.htm" } ], "nonReliance": [ { "filed": "2026-01-20", "url": "https://www.sec.gov/Archives/edgar/data/1325964/000107997326000096/0001079973-26-000096-index.htm" } ], "restatedSince": true }, "metrics": { "fiscalYearEnd": "2025-12-31", "revenue": 236855, "revenueGrowth1y": 1.4774331886407617, "revenueGrowthPerYear": 0.3323443530247572, "yearsOfData": 5, "operatingMargin": -87.65457347322202, "operatingMarginPrior": -241.50560117148686, "netMargin": -85.76469569990078, "operatingCashFlow": -13749186, "capitalSpending": 1331773, "freeCashFlow": -15080959, "researchAndDevelopment": 11489687, "researchShareOfRevenue": 48.50937071203901, "cash": 69017354, "longTermDebt": null, "longTermDebtChange": null, "revenueHistory": [ { "fiscalYearEnd": "2010-12-31", "revenue": 3200 }, { "fiscalYearEnd": "2014-12-31", "revenue": 2500 }, { "fiscalYearEnd": "2023-12-31", "revenue": 40502 }, { "fiscalYearEnd": "2024-12-31", "revenue": 95605 }, { "fiscalYearEnd": "2025-12-31", "revenue": 236855 } ], "totalEquity": 74645830, "totalAssets": 79185249, "equityRatio": 0.9426734264610319, "returnOnEquity": -0.2721357241255138, "dividendsPaid": null, "payoutRatio": null, "dividendPerShare": null, "dividendYearsRising": null, "dividendCut": null, "priceBased": "Dividend yield, price/earnings and price/book need a share price. The boards carry filings only, so they are not shown.", "earningsPerShare": -0.16, "sharesOutstanding": 128628727, "bookValuePerShare": 0.5803200555658147, "revenuePerShare": 0.001841384934175707, "range80": { "low": 491215.1463732968, "high": 1358191.4493268228, "baseline": 833279.7473882586, "n": 2483, "band": "b000", "bandLabel": "under $50M", "method": "v4.1", "credibility": 0.25, "growthYears": 2, "ownVolatility": 0.03418808626941013, "classVolatility": 0.3000583276631395, "volatility": 0.26041976943137624 }, "ifPaceHeld": { "low": 491215.1463732968, "high": 1358191.4493268228 } }, "edgarette": "🔖 Exposure: revenue $237K (FY2025). Experience: revenue up 147.7% on the year, up 33.2% a year over 15 years; operating margin -8765.5%, up from -24150.6%. Soundness: equity 94.3% of assets, return on equity -27.2%. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $491K and $1.4M next year (method v4.1: its own 2-year record of growth weighed at 25% against under $50M filers; across 2019–2025, 69.0% landed inside, 83.4% on the one year the method never saw). In a shock year the stress range is $458K to $1.5M. A statistical range, not company guidance. Against peers (9 filers, $50M+ revenue, its industry group): operating margin -8765.5% against a 9.0% median; growth 147.7% against 5.0%.", "peers": { "sic": 3080, "sicDescription": "Miscellaneous Plastics Products", "calendarYear": 2025, "minRevenue": 50000000, "depth": 3, "group": "308", "growth": [ 0.0503, 9 ], "opMargin": [ 0.0903, 9 ], "equityRatio": [ 0.4805, 8 ], "returnOnEquity": [ 0.133, 8 ] }, "summary": "Lightwave Logic (LWLG) grew revenue 148% in FY2025 to $0 million, operating margin -8765% against a 9.0% median for miscellaneous plastics products, equity 94.3% of assets. Every figure is from the company’s own annual report filed with the SEC.", "chart": "
Lightwave Logic, Inc. against its own record and its peers
Operating marginPeer median 9.0%-8765.5%Revenue, on the yearPeer median 5.0%147.7%Equity of assetsPeer median 48.0%94.3%Return on equityPeer median 13.3%-27.2%Gold tick: the median of 8–8 peers with $50M+ revenue in miscellaneous plastics products
", "chartHorizon": null, "backtest": { "tests": 1, "hits": 1, "rate": 1, "method": "v4", "byYear": { "2025": [ 1, 1 ] }, "note": "hindsight: the same credibility-weighted range on the company's own past years. Years 2018-2023 were used to fit or tune the method, so only 2025 outcomes are fully out of sample." }, "registry": { "logged": "2026-09-30T14:23:02.751Z", "hash": "8fc8ed10c28106c9", "status": "open" }, "caution": "Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.", "schema": "pops4.edgarette.card/1", "card": { "summary": "Lightwave Logic (LWLG) grew revenue 148% in FY2025 to $0 million, operating margin -8765% against a 9.0% median for miscellaneous plastics products, equity 94.3% of assets. Every figure is from the company’s own annual report filed with the SEC.", "exposure": { "fiscalYearEnd": "2025-12-31", "revenue": 236855, "totalDebt": null, "cash": 69017354 }, "experience": { "revenueGrowth1y": 1.4774331886407617, "revenueGrowthPerYear": 0.3323443530247572, "operatingMargin": -87.65457347322202, "operatingMarginPrior": -241.50560117148686, "netMargin": -85.76469569990078, "freeCashFlow": -15080959 }, "soundness": { "equityRatio": 0.9426734264610319, "returnOnEquity": -0.2721357241255138, "payoutRatio": null, "dividendPerShare": null, "dividendYearsRising": null, "dividendCut": null, "note": "Dividend yield, price/earnings and price/book need a share price. The boards carry filings only, so they are not shown." }, "peers": { "sic": 3080, "sicDescription": "Miscellaneous Plastics Products", "calendarYear": 2025, "minRevenue": 50000000, "depth": 3, "group": "308", "growth": [ 0.0503, 9 ], "opMargin": [ 0.0903, 9 ], "equityRatio": [ 0.4805, 8 ], "returnOnEquity": [ 0.133, 8 ] }, "credibility": { "auditedYears": 5, "weight": "reasonable", "standard": "ASOP No. 25", "nonReliance": { "filed": "2026-01-20", "url": "https://www.sec.gov/Archives/edgar/data/1325964/000107997326000096/0001079973-26-000096-index.htm", "restatedSince": true, "markedDown": false }, "auditorChange": { "filed": "2024-10-04", "url": "https://www.sec.gov/Archives/edgar/data/1325964/000107997324001354/0001079973-24-001354-index.htm" } }, "healthWatch": { "window": "last 12 months", "since": "2025-09-30", "signals": [ { "code": "4.02", "label": "Earlier statements no longer to be relied on", "count": 1, "latest": { "filed": "2026-01-20", "url": "https://www.sec.gov/Archives/edgar/data/1325964/000107997326000096/0001079973-26-000096-index.htm" } }, { "code": "5.02", "label": "Director or officer change", "count": 4, "latest": { "filed": "2026-09-29", "url": "https://www.sec.gov/Archives/edgar/data/1325964/000107997326001303/0001079973-26-001303-index.htm" } } ], "note": "Events the company itself filed with the SEC, most serious first. Shown beside the figures; they do not change the range or its receipt." }, "range": { "low": 491215.1463732968, "high": 1358191.4493268228, "baseline": 833279.7473882586, "coverage": 0.8, "method": "v4.1", "basis": "next fiscal year revenue: baseline = revenue x (1 + mean of one-year and three-year pace); width = the company's own volatility of yearly growth, credibility-weighted against its size class (Buhlmann), scaled to the 80% target on 2023 and tested on 2024", "calibratedOn": { "companyYears": 2483, "sizeBand": "under $50M", "fitYears": [ 2018, 2022 ], "tuneYear": 2023, "testYear": 2024, "coverageOnTestYear": 0.8341, "coverageAllYears": 0.6904374799277399, "stressCoverageAllYears": 0.819004992974709, "outcomeYears": [ 2019, 2025 ] }, "credibility": { "weightOnOwnRecord": 0.25, "growthYears": 2, "ownVolatility": 0.03418808626941013, "classVolatility": 0.3000583276631395, "pricedVolatility": 0.26041976943137624, "k": 3 }, "stress": { "low": 458123.5377644546, "high": 1459832.0873218302, "basis": "the same range with widths set to hold 80% across 2018-2023, pandemic years included" }, "kind": "a statistical range, not company guidance; no view on the share price", "track": { "backtest": { "tests": 1, "hits": 1, "rate": 1, "method": "v4", "byYear": { "2025": [ 1, 1 ] }, "note": "hindsight: the same credibility-weighted range on the company's own past years. Years 2018-2023 were used to fit or tune the method, so only 2025 outcomes are fully out of sample." }, "registry": { "logged": "2026-09-30T14:23:02.751Z", "hash": "8fc8ed10c28106c9", "status": "open" }, "scorecard": "https://www.pops4.com/boards/scorecard" } }, "caution": "Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.", "sources": { "facts": "https://data.sec.gov/api/xbrl/companyfacts/CIK0001325964.json", "filings": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1325964" }, "speedCash": null, "harbor": { "signs": [ { "key": "warning", "text": "filed earlier statements no longer to be relied on in the last 12 months" }, { "key": "cash", "text": "operating cash flow was negative (-$13.7M in FY2025)" }, { "key": "range", "text": "revenue is hard to predict: its 80% range is ±47%" } ], "rule": "Boat condition = number of warning signs: a serious warning filing in 12 months; liabilities over assets; slow and jumpy; negative operating cash; an 80% revenue range of ±25% or wider.", "level": 3, "name": "Old boat", "plain": "three warning signs" }, "cashFlow": { "fiscalYearEnd": "2025-12-31", "operating": -13749186, "investing": -1817202, "financing": 56915778, "capitalSpending": 1331773, "free": -15080959, "trend": [ { "fiscalYearEnd": "2010-12-31", "operating": -1436681, "free": -1460328 }, { "fiscalYearEnd": "2014-12-31", "operating": -3140203, "free": -3353392 }, { "fiscalYearEnd": "2023-12-31", "operating": -12236024, "free": -15528248 }, { "fiscalYearEnd": "2024-12-31", "operating": -15550515, "free": -17817913 }, { "fiscalYearEnd": "2025-12-31", "operating": -13749186, "free": -15080959 } ], "note": "Annual, as filed in 10-K cash flow statements; negative investing/financing = cash going out (capital spending, buybacks, dividends, debt repaid)." }, "investments": { "fiscalYearEnd": "2025-12-31", "cash": 69017354, "shortTerm": null, "longTerm": null, "equityHoldings": null, "totalAssets": 79185249, "ladder": null, "currentRatio": 32.69, "unrealizedGain": null, "unrealizedLoss": null, "note": "Balance-sheet cash and investment securities at fiscal year end, as filed; short-term = due or saleable within a year. Insurers and banks hold most of their book here." } }, "definitions": { "operatingMargin": "Operating income divided by revenue.", "netMargin": "Net income divided by revenue.", "freeCashFlow": "Cash from operations minus spending on property and equipment.", "researchShareOfRevenue": "Research and development expense for the year as a share of revenue, both as filed.", "equityRatio": "Shareholders equity as a share of total assets, both as filed. Higher means less of the company is owed to someone else.", "returnOnEquity": "Net income for the year against shareholders equity at year end.", "payoutRatio": "Dividends paid as a share of net income, in the year the cash went out.", "dividendYearsRising": "Consecutive years, counted back from the last on record, in which dividend per share rose. A fall ends the run and is reported as dividendCut.", "revenueGrowthPerYear": "Compound annual growth between the first and latest fiscal years shown.", "credibility": "How much weight a record deserves, in the actuarial sense (ASOP No. 25): more audited years, more weight.", "peers": "Medians of SEC filers with $50M+ revenue in the same industry code (SIC), narrowest group with at least 8 filers, calendar-year figures from SEC XBRL frames.", "backtest": "The same range method applied to the company's own past years, scored against what it actually reported next. Hindsight, and labelled so.", "healthWatch": "Distress-type events the company filed in the last 12 months (late-filing notices; 8-K items 1.03, 3.01, 2.04, 4.02, 4.01, 2.05, 2.06, 1.05, 5.02), each with its count and newest filing. Display only: they do not change the range or its receipt." }, "speedCash": null, "harbor": { "signs": [ { "key": "warning", "text": "filed earlier statements no longer to be relied on in the last 12 months" }, { "key": "cash", "text": "operating cash flow was negative (-$13.7M in FY2025)" }, { "key": "range", "text": "revenue is hard to predict: its 80% range is ±47%" } ], "rule": "Boat condition = number of warning signs: a serious warning filing in 12 months; liabilities over assets; slow and jumpy; negative operating cash; an 80% revenue range of ±25% or wider.", "level": 3, "name": "Old boat", "plain": "three warning signs" }, "cashFlow": { "fiscalYearEnd": "2025-12-31", "operating": -13749186, "investing": -1817202, "financing": 56915778, "capitalSpending": 1331773, "free": -15080959, "trend": [ { "fiscalYearEnd": "2010-12-31", "operating": -1436681, "free": -1460328 }, { "fiscalYearEnd": "2014-12-31", "operating": -3140203, "free": -3353392 }, { "fiscalYearEnd": "2023-12-31", "operating": -12236024, "free": -15528248 }, { "fiscalYearEnd": "2024-12-31", "operating": -15550515, "free": -17817913 }, { "fiscalYearEnd": "2025-12-31", "operating": -13749186, "free": -15080959 } ], "note": "Annual, as filed in 10-K cash flow statements; negative investing/financing = cash going out (capital spending, buybacks, dividends, debt repaid)." }, "investments": { "fiscalYearEnd": "2025-12-31", "cash": 69017354, "shortTerm": null, "longTerm": null, "equityHoldings": null, "totalAssets": 79185249, "ladder": null, "currentRatio": 32.69, "unrealizedGain": null, "unrealizedLoss": null, "note": "Balance-sheet cash and investment securities at fiscal year end, as filed; short-term = due or saleable within a year. Insurers and banks hold most of their book here." } }