LWLGLightwave Logic, Inc.
Miscellaneous Plastics Products
- Revenue
- $237K
- 1623% YoY
- Operating margin
- -8765.5%
- 95% YoY
- EBITDA
- −$19M
- 12% YoY
- Market cap
- $732M
- Employees
- —
- Net debt / EBITDA
- —
- AI in 10-K
- 5.5
- mentions per 10K words
Takeover score 2 of 13
Fixable underperformance 1 of 7
- TSR below peersNo—3+ of last 5 years
- High CEO pay despite TSRNo—Median CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo—Cash flow under 80% of net income
- Dilutive SBCYes20× of revenueOver 10% of revenue
- Payouts exceed cash flowNo0% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo—Over 40% of assets
- Shareholder dissentNo88% lowest supportAny vote under 80% support
Buyer economics 1 of 4
- Low revenue per employeeNo—Bottom quartile of its SIC industry
- Quiet on AINo5.5 per 10K words · 84th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo—More cash than debt, positive EBITDA
- Buyout-sizedYes$732M market capMarket cap $500M–$5B
Catalysts 0 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingNo−$1M netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | — | — | $41K | $14K | $237K | 1623% |
| Operating income | −$17M | −$17M | −$21M | −$23M | −$21M | 10% |
| Net income | −$19M | −$17M | $21M | −$23M | −$20M | 9.9% |
| Operating cash flow | −$10M | −$11M | −$12M | −$16M | −$14M | 12% |
| Capex | $1M | $1M | $3M | $2M | $1M | 41% |
| Stock-based comp | $1M | $6M | $7M | $5M | $5M | 4.2% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $1M · 12
- Net
- −$1M
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | — | — | 75 | — |
| FY2024 | — | — | 49 | — |
| FY2023 | — | — | 116 | — |