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Lightwave Logic cash flow, quarter by quarter

Latest: Q2 2026 · from the cash-flow statements filed with the SEC

Free cash flow−$6.9M in Q2 2026 · −$18.3M over twelve months

Operating cash flow−$5.8M
Capital spending−$1.1M
Free cash flow−$6.9M

Analysis

In Q2 2026, Lightwave Logic generated −$5.8M of operating cash flow and spent $1.1M on capital projects, leaving free cash flow of −$6.9M. That is $3.1M less than in Q2 2025 (−$3.8M).

Over the twelve months to Jun 30, 2026, operating cash flow was −$16.4M; the largest uses were other investing ($49.3M), operating cash flow ($16.4M), capital spending ($2.0M); besides operations, cash came from other financing ($85.7M), shares issued ($7.0M); the cash balance rose by $25.1M.

Operating cash flow was −$5.8M against net income of −$6.6M. The largest differences: stock-based pay +$1.8M, prepaid and other assets −$966K, depreciation & amortization +$491K.

Free cash flow

Lightwave Logic: free cash flow by quarterLightwave Logic: free cash flow by quarter−$3.9MQ3 2024−$3.5MQ4 2024−$4.3MQ1 2025−$3.8MQ2 2025−$3.2MQ3 2025−$3.7MQ4 2025−$4.5MQ1 2026−$6.9MQ2 2026
Operating cash flow less capital spending.
Lightwave Logic: operating cash flow against capital spendingLightwave Logic: operating cash flow against capital spendingOperating cash flowCapital spending−$3.6M$350KQ3 2024−$3.1M$332KQ4 2024−$3.5M$854KQ1 2025−$3.8M$40KQ2 2025−$3.2M$59KQ3 2025−$3.3M$379KQ4 2025−$4.1M$450KQ1 2026−$5.8M$1.1MQ2 2026
Latest (Q2 2026): Operating cash flow −$5.8M, Capital spending $1.1M.

Capital allocation, year by year

Lightwave Logic: where the cash came from (up) and went (down), by fiscal yearLightwave Logic: where the cash came from (up) and went (down), by fiscal yearOperating cash flowShares issuedAsset salesCapital spendingFY2021: Operating cash flow −$10.3MFY2021: Shares issued $2.0MFY2021: Capital spending −$1.1M$2.0MFY2021FY2022: Operating cash flow −$10.5MFY2022: Shares issued $258KFY2022: Asset sales $71KFY2022: Capital spending −$1.3M$329KFY2022FY2023: Operating cash flow −$12.2MFY2023: Shares issued $778KFY2023: Asset sales $1KFY2023: Capital spending −$3.3M$778KFY2023FY2024: Operating cash flow −$15.6MFY2024: Shares issued $246KFY2024: Capital spending −$2.3M$246KFY2024FY2025: Operating cash flow −$13.7MFY2025: Shares issued $281KFY2025: Capital spending −$1.3M$281KFY2025
Over these 5 years operating cash flow totalled −$62.4M; the largest uses were operating cash flow ($62.4M) and capital spending ($9.3M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$95.9M
Debtnone
Net cash$95.9M
Cash runway5.2 years

Lightwave Logic is burning cash: its operations consume cash, a free cash flow of −$18.3M a year at the current rate against $95.9M of cash and investments: a runway of about 5.2 years before any new financing.

Where the cash came from and went

Lightwave Logic: sources (+) and uses (−) of cash, Q2 2026Lightwave Logic: sources (+) and uses (−) of cash, Q2 2026Other investing−$48.8MCash drawn (+) / kept (−)$27.9MOther financing$22.7MOperating cash flow−$5.8MShares issued$5.1MCapital spending−$1.1M
Lightwave Logic: sources (+) and uses (−) of cash, TTM to Q2 2026Lightwave Logic: sources (+) and uses (−) of cash, TTM to Q2 2026Other financing$85.7MOther investing−$49.3MCash drawn (+) / kept (−)−$25.1MOperating cash flow−$16.4MShares issued$7.0MCapital spending−$2.0M

From profit to cash

Lightwave Logic: net income to operating cash flow, Q2 2026Lightwave Logic: net income to operating cash flow, Q2 2026Net income−$6.6MDepreciation & amortization$491KStock-based pay$1.8MGains on disposals$5KReceivables$200KPayables−$334KAccrued liabilities−$461KDeferred revenue$98KPrepaid and other assets−$966KOperating cash flow−$5.8M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q1 2026627—42361-41734
Q4 202565—29921-29855
Q2 202552—11158-11105
Q1 2025126—23179-23053
Q4 2024145—45145-44999
Q3 202470—50902-50832

Every quarter

QuarterOperating cash flowCapital spendingShares issuedCash drawn (+) / kept (−)Free cash flow
Q2 2026−$5.8M−$1.1M$5.1M$27.9M−$6.9M
Q1 2026−$4.1M−$450K$1.9M−$6.1M−$4.5M
Q4 2025−$3.3M−$379K$30K−$34.1M−$3.7M
Q3 2025−$3.2M−$59K$47K−$12.8M−$3.2M
Q2 2025−$3.8M−$40K$40K$2.9M−$3.8M
Q1 2025−$3.5M−$854K$164K$2.6M−$4.3M
Q4 2024−$3.1M−$332K$8K−$785K−$3.5M
Q3 2024−$3.6M−$350K$7K$2.3M−$3.9M

Lightwave Logic: income statement and cash flow

Lightwave Logic, Q2 2026: revenue $33K (+28% year over year). The chart follows the revenue to costs, profit and cash.

Lightwave Logic: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.