LWLG on Nasdaq

Lightwave Logic, Inc.

American miscellaneous plastics products company, incorporated in Nevada. Summary from the record

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Last updated Oct 19, 2026.

Overview

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  • TickerLWLG on Nasdaq1
  • IndustryMiscellaneous Plastics Products1
  • HeadquartersEnglewood, Colorado1
  • Incorporated inNV2
  • Business address369 Inverness Parkway, Suite 350, Englewood, Co 801122
  • Filer categoryNon-accelerated filer, Smaller reporting company2

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(“EO”) polymer materials designed to enable high-speed optical modulators for data communications and other photonic applications.3 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

-8765.5%Operating margin4
-8576.5%Net margin4
147.7%Revenue growth, 20254
-27.2%Return on equity4
-$15.1MFree cash flow4

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue0¢$6.8K
  • Research and development100¢$11.5M

Out of $236.9K in revenue.4 The company lost money this year.

Financial statements

Revenue54$236.9K in 2025+485% since 2023
0$100.0K$200.0K$300.0K2023: $40.5K$40.5K20232024: $95.6K$95.6K2024+136%2025: $236.9K$236.9K2025+148%
Gross profit5$88.2K in 2024+132% since 2023
0$25.0K$50.0K$75.0K$100.0K2023: $38.0K$38.0K20232024: $88.2K$88.2K2024+132%
Operating income67854-$20.8M in 2025+229% since 2019
-$30.0M-$20.0M-$10.0M02019: -$6.3M-$6.3M20192020: -$6.6M-$6.6M2020+4%2021: -$17.0M-$17.0M2021+158%2022: -$17.1M-$17.1M2022+1%2023: -$21.2M-$21.2M2023+24%2024: -$23.1M-$23.1M2024+9%2025: -$20.8M-$20.8M2025−10%
Net income67854-$20.3M in 2025+202% since 2019
-$30.0M-$20.0M-$10.0M02019: -$6.7M-$6.7M20192020: -$6.7M-$6.7M2020−0%2021: -$18.6M-$18.6M2021+177%2022: -$17.2M-$17.2M2022−8%2023: -$21.0M-$21.0M2023+22%2024: -$22.5M-$22.5M2024+7%2025: -$20.3M-$20.3M2025−10%

Every line of the income statement as filed: the last 2 fiscal years, latest first.4

Period ending2025-12-312024-12-31
NET SALES$236.9K$95.6K
Cost of sales$6.8K$7.4K
Research and development$11.5M$16.8M
General and administrative$9.5M$6.4M
TOTAL COST AND EXPENSE$21.0M$23.2M
LOSS FROM OPERATIONS-$20.8M-$23.1M
Interest income$842.4K$926.9K
Commitment fee-$370.3K-$154.2K
Loss on disposal of property and equipment and intangible assets-$25.2K-$213.4K
Other income (expense)$645-$5.1K
NET LOSS-$20.3M-$22.5M
Earnings Per Share, Diluted-$0.16-$0.19
Weighted Average Number of Shares Outstanding, Diluted128.6M shares120.6M shares

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Leadership

Who has led Lightwave Logic, Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Harold R. Bennett2007–2008
  2. James S. Marcelli2008–2009
  3. Thomas Edward Zelibor2012–2016
  4. Michael Stephen Lebby2017–2024
  5. Maitre Yves Le2024–now

Chair

  1. Phillips W. Smith2010
  2. Thomas Edward Zelibor2018–2022

President

  1. Frederick J. Goetz Jr.2007–2009
  2. James S. Marcelli2013–2024
  3. Thomas Edward Zelibor2024–now

Chief financial officer

  1. James S. Marcelli2025–2026
  2. Fred Graffam2026–now

Chief operating officer

  1. James S. Marcelli2013–now
2010201520202025
Board members and other officers (23)

Former names

  • THIRD-ORDER NANOTECHNOLOGIES INCApr 13, 2007 to Feb 19, 20082
  • THIRD-ORDER NANOTECHNOLOIES INCFeb 12, 2007 to Feb 12, 20072
  • PSI TEC HOLDINGS INCApr 27, 2005 to Sep 8, 20062

Timeline

  1. Dec 12, 2024New chief executive Maitre Yves Le becomes CEO12
  2. May 8, 2017New chief executive Michael Stephen Lebby becomes CEO13
  3. May 3, 2012New chief executive Thomas Edward Zelibor becomes CEO14
  4. Aug 8, 2008New chief executive James S. Marcelli becomes CEO15
  5. Jun 11, 2007New chief executive Harold R. Bennett becomes CEO16

Filings

230 filings to the SEC since October 2021: 6 annual reports, 16 quarterly reports, 41 major events, 104 insider forms, 6 large holders, 57 other. The latest 20:

  1. Oct 1, 20263 EDGAR
  2. Sep 29, 20268-K EDGAR
  3. Sep 14, 20264 EDGAR
  4. Sep 1, 2026144 EDGAR
  5. Aug 14, 202610-Q QUARTERLY REPORT EDGAR
  6. Jul 29, 2026SCHEDULE 13G EDGAR
  7. Jul 28, 20264 EDGAR
  8. Jul 24, 20263 EDGAR
  9. Jul 20, 20268-K EDGAR
  10. Jun 11, 2026S-3ASR FORM S-3 EDGAR
  11. Jun 5, 20264 EDGAR
  12. Jun 3, 20264 EDGAR
  13. Jun 3, 20264 EDGAR
  14. Jun 3, 20264 EDGAR
  15. Jun 2, 20264 EDGAR
  16. Jun 2, 20264 EDGAR
  17. Jun 1, 2026144 EDGAR
  18. Jun 1, 20264 EDGAR
  19. May 27, 20268-K EDGAR
  20. May 15, 202610-Q QUARTERLY REPORT EDGAR

The 230 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

36 open-market trades by officers, directors and large owners since October 2021: 1 buys and 35 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Jun 1, 2026Quan Snizhana P.Principal Financial OfficerSale345$11.41$3.9KForm 4
Apr 10, 2026Quan Snizhana P.Principal Financial OfficerSale20,000$10.36$207.2KForm 4
Apr 7, 2026El-Ahmadi Siraj NourDirectorSale54,536$7.76$423.2KForm 4
Apr 6, 2026CONNELLY THOMAS M JRDirectorSale9,000$8.52$76.7KForm 4
Apr 1, 2026Bucchi Ronald ADirectorSale11,000$6.92$76.1KForm 4
Apr 1, 2026Partridge LailaDirectorSale11,000$6.84$75.2KForm 4
Apr 1, 2026Ciesla CraigDirectorSale11,000$6.81$74.9KForm 4
Mar 30, 2026Quan Snizhana P.Principal Financial OfficerSale25,000$7.27$181.8KForm 4
Jan 27, 2026El-Ahmadi Siraj NourDirectorSale25,591$3.48$89.1KForm 4
Jan 2, 2026CONNELLY THOMAS M JRDirectorSale7,600$3.25$24.7KForm 4
Dec 31, 2025El-Ahmadi Siraj NourDirectorSale49,260$3.15$155.2KForm 4
Dec 31, 2025Partridge LailaDirectorSale10,000$3.72$37.2KForm 4
Oct 2, 2025CONNELLY THOMAS M JRDirectorSale6,000$4.26$25.6KForm 4
Oct 2, 2025Bucchi Ronald ADirectorSale10,000$3.97$39.7KForm 4
Oct 2, 2025Partridge LailaDirectorSale10,000$4.11$41.1KForm 4
Dec 13, 2023LEONBERGER FREDERICK JDirectorSale75,000$4.67$350.2KForm 4
Dec 6, 2023Bucchi Ronald ADirectorSale27,000$4.75$128.4KForm 4
Jul 19, 2023LEONBERGER FREDERICK JDirectorSale49,000$7.75$379.8KForm 4
Jun 12, 2023El-Ahmadi Siraj NourDirectorSale100,000$7.77$777.0KForm 4
Jun 6, 2023Bucchi Ronald ADirectorSale27,625$8.21$226.8KForm 4

All 36 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.12,305,846$116.4M0.0%+9,835,780
Vanguard Capital Management LLC6,551,494$62.0M0.0%+440,563
State Street Corp4,443,532$42.0M0.0%+2,740,586
Vanguard Portfolio Management LLC4,424,600$41.9M0.0%+1,349,070
Geode Capital Management, LLC4,064,111$38.5M0.0%+2,206,472
Marshall Wace, Llp3,057,193$28.9M0.0%−2,846,651
UBS Group AG2,919,015$27.6M0.0%+2,467,665
Northern Trust Corp1,385,193$13.1M0.0%+1,052,451
Charles Schwab Investment Management Inc1,269,563$12.0M0.0%+398,219
Jane Street Group, LLC1,164,611$11.0M0.0%−13,294
Vanguard Fiduciary Trust Co1,078,845$10.2M0.0%+196,520
LPL Financial LLC935,687$8.9M0.0%+113,806
Jupiter Asset Management Ltd932,787$8.8M0.0%New
Raymond James Financial Inc813,418$7.7M0.0%+289,103
Susquehanna International Group, Llp724,938$6.9M0.0%−801,613
Two Sigma Investments, LP721,828$6.8M0.0%+567,520
Group One Trading LLC510,510$4.8M0.1%−263,190
Bank of New York Mellon Corp461,945$4.4M0.0%+421,199
UMB Bank, n.a.403,092$3.8M0.0%No change
Qube Research & Technologies Ltd401,443$3.8M0.0%−837,842
Goldman Sachs Group Inc389,601$3.7M0.0%−189,611
Nuveen, LLC371,394$3.5M0.0%New
Swiss National Bank302,200$2.9M0.0%New
Millennium Management LLC293,376$2.8M0.0%−2,690,208
Algert Global LLC291,050$2.8M0.0%New

13F reports cover disclosed long positions in U.S. stocks only.

Sources

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