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Lightwave Logic Inc. (LWLG-5.39%) has filed its annual report on Form 10-K for the fiscal year ended December 31, 2024. The report is available for review filing.
The filing details Lightwave Logic's operations, including its focus on developing proprietary electro-optic polymers for high-speed data transmission. The company reported its first revenue stream from a material supply and license agreement initiated in May 2023.
For the year ended December 31, 2024, Lightwave Logic reported total revenue of $95,605, primarily from licensing and device processing work. The company incurred a net loss of $22,535,041, compared to a net loss of $21,038,032 in the previous year.
Research and development expenses increased to $16,806,548, reflecting continued investment in polymer materials and device development. General and administrative expenses rose to $6,370,805, driven by increased salary and benefits expenses.
Lightwave Logic's cash and cash equivalents totaled $27,667,964 as of December 31, 2024. The company anticipates its current cash position will support operations through April 2026.
The company continues to focus on expanding its patent portfolio and strengthening its business model, which includes technology licensing, patent licensing, and technology transfer to foundries.
Lightwave Logic is targeting applications in fiber optic data communications and telecommunications markets, with additional exploration in automotive, aerospace, and defense sectors.
The company acknowledges the competitive landscape, highlighting its differentiation in higher speed, lower power consumption, and reliability of its electro-optic polymers.
Lightwave Logic's management team was strengthened with the appointment of Yves LeMaitre as CEO and Thomas E. Zelibor as President in December 2024.
The filing also outlines risks, including the need for additional capital, potential competition, and the challenges of entering new markets.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Lightwave Logic Inc. annual 10-K report dated March 18, 2025. To report an error, please email earnings@qz.com.