Lightwave Logic (LWLG) Cash Flow: Operating & Free Cash Flow

Lightwave Logic Cash Flow Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Cash flow statement showing operating, investing, and financing activities for Lightwave Logic, Inc. (LWLG) - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Operating Activities
Net Income	-20.31	-22.54	-21.04	-17.23	-18.63	-6.72	-6.73	-5.77	-5.75
Depreciation & Amortization	2.66	1.88	1.57	1.22	1.05	0.78	0.70	0.47	0.33
Deferred Income Tax	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.09	0.42
Stock Based Compensation	5.05	4.44	7.40	5.81	1.02	0.54	0.60	0.39	0.79
Change in Working Capital	-0.62	-0.15	0.32	-0.69	1.19	0.31	0.17	0.26	-0.47
Change in Accounts Receivable	-0.15	-0.02	-0.03	0.00	0.00	0.00	0.00	0.00	0.00
Change in Accounts Payable	-0.18	-1.04	0.87	0.64	0.03	0.12	-0.06	0.10	-0.06
Change in Other Working Capital	-0.37	0.60	-0.78	0.30	2.06	0.19	0.24	0.16	-0.41
Other Operating Activities	0.03	0.60	-0.22	0.30	2.06	0.21	0.49	0.17	0.27
Net Cash from Operating Activities	-13.75	-15.55	-12.24	-10.53	-10.30	-4.87	-4.77	-4.40	-4.41
Investing Activities
Capital Expenditures	-1.33	-2.70	-3.29	-1.57	-1.12	-0.22	-0.31	-1.43	-0.27
Acquisitions	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Sales/Maturities of Investments	18.79	0.00	-0.31	0.00	0.00	0.00	0.00	0.00	0.00
Other Investing Activities	-19.27	-0.43	0.64	-0.90	-0.02	-0.06	-0.08	0.00	-0.18
Net Cash from Investing Activities	-1.82	-2.70	-2.96	-2.21	-1.12	-0.22	-0.31	-1.43	-0.27
Financing Activities
Debt Repayment	0.00	0.00	0.00	0.00	-0.01	-0.67	-0.51	-0.50	0.00
Common Stock Issued	57.10	14.15	22.52	12.78	30.35	5.17	5.64	4.86	5.72
Common Stock Repurchased	-0.18	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other Financing Activities	-0.17	0.34	2.53	-0.02	-1.18	1.66	0.00	5.03	0.48
Net Cash from Financing Activities	56.92	14.48	22.52	13.41	31.55	6.16	5.13	4.53	6.20
Summary
Net Change in Cash	41.35	-3.76	7.33	0.67	20.13	1.07	0.06	-1.31	1.53
Cash at Beginning of Period	27.67	31.43	24.10	23.43	3.31	2.24	2.17	3.48	1.96
Cash at End of Period	69.02	27.67	31.43	24.10	23.43	3.31	2.24	2.17	3.48
Free Cash Flow	-15.08	-18.25	-15.53	-12.10	-11.42	-5.09	-5.07	-5.84	-4.68

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Lightwave Logic Cash Flow

What is Lightwave Logic's free cash flow?

Lightwave Logic had negative free cash flow of $15.08M in fiscal 2025 (fiscal year ended Dec 31, 2025), operating cash flow of −$13.75M minus $1.33M of capital expenditures.

How much does Lightwave Logic spend on capital expenditures?

Lightwave Logic spent $1.33M on capital expenditures in fiscal 2025, compared with $2.70M a year earlier.

Does Lightwave Logic pay dividends or buy back shares?

Yes. In fiscal 2025 Lightwave Logic returned $184.80K in share buybacks to shareholders, according to its cash flow statement.

What is free cash flow?

Free cash flow is operating cash flow minus capital expenditures. It is the cash a company has left for dividends, buybacks, debt repayment or acquisitions after funding its operations and investment. Full definition