Lightwave Logic, Inc. Common Stock 2026 Q2 Earnings Call
Review the key takeaways and the transcript of this earnings call.
- Lightwave Logic reported Q2 2026 revenue of approximately $33,000, up from $26,000 in Q2 2025.
- Net loss for Q2 2026 was $6.6 million, or $0.04 per share, compared with a net loss of approximately $5 million, or $0.04 per share, in Q2 2025.
- Research and development expenses increased to approximately $3.9 million from $2.6 million year over year, reflecting investments in device performance, reliability, qualification, and integration.
- General and administrative expenses rose to approximately $3.4 million from $2.3 million year over year, due to investments in personnel, systems, and processes.
- Cash, cash equivalents, and marketable securities totaled $95.9 million at June 30, 2026, providing significant financial flexibility.
- Cash used in operating activities was approximately $9.9 million in the first six months of 2026, compared with $7.3 million in the prior year period.
- Capital expenditures were approximately $1.5 million in the first half of 2026, focused on production readiness and IT infrastructure.
- The company increased headcount by 25% sequentially, especially in manufacturing scale-up, test engineering, and commercial development.
- Lightwave Logic expanded to five stage three customers and has multiple foundry engagements, with first wafers expected in August 2026.
- The company is working with four foundry partners including GlobalFoundries, Tower Semiconductor, and two others, advancing wafer runs and process development.
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Transcript
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Greetings. Welcome to the Lightwave Logic Q2 2026 Financial Results and Business Update Conference Call. At this time, all participants are in a listen-only mode. A question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. Please note this conference is being recorded. I will now turn the conference over to Nick Teves of Investor Relations. Thank you, Nick. You may begin.
Thank you operator, and good morning everyone. Thanks for joining us today for Lightwave Logic's second quarter financial results and business update call. I am joined on today's call by Lightwave Logic's President and Chief Executive Officer, Yves LeMaitre, and Lightwave Logic's Chief Financial Officer, Fred Graffam. Please note that this call is in listen-only mode for the duration of the call, and that a replay will be posted to the company's website shortly after the call concludes. Some of the matters we will discuss on this call, including statements and our business outlook, are forward-looking, and as such, this call speaks only as of today, August 11th, 2026. Such statements may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.
The matters discussed on this call are subject to known and unknown risks and uncertainties, and these risks and uncertainties could cause actual operating results to differ materially from those expressed in the call. A more detailed description of the risks our company faces is more fully described by the company under the caption Risk Factors included in our most recent Form 10-K and 10-Q. As always, Lightwave Logic assumes no obligation to update the information presented on this conference call. Lastly, you are cautioned that any time-sensitive information may no longer be accurate at the time replay listening or transcript reading. With that, I will turn the call over to Yves.
Hey, good morning everyone, and thank you for joining us. The second quarter of 2026 represented another step forward in our transition from technology development to commercialization. As you will hear today, we expanded to five stage 3 customers and made excellent progress with our multiple foundry engagements with the first wafers expected to be delivered this month. Let me start with a bigger picture. AI is being adopted and scaled at an incredible rate, and when something grows this fast, bottlenecks show up everywhere. The industry talks about the availability of compute, the memory wall, interconnect bandwidth, power delivery, and cooling. We can debate which one is the biggest constraint at any particular point in time. The more important point is that they are all real, they are all connected, and each one has to be addressed if AI infrastructure is going to keep scaling.
For Lightwave Logic, the part of the problem we are focused on is the interconnect. Putting more processors into an AI cluster only helps if those processors can move enormous amounts of data between each other quickly and efficiently. In simple terms, the network has to keep up with the compute. Today, it simply doesn't. As clusters become larger and denser, copper reaches its practical limits over longer distances, and power consumption becomes a bigger part of the networking problem. That is why optical networking, and silicon photonics in particular, is growing so quickly. We are seeing it in actual foundry results, not just in industry forecasts. In their latest call, GlobalFoundries said its communication infrastructure and data center business grew more than 60% year-over-year, driven in part by optical networking, and that it expects its silicon photonics revenue to more than double in 2026.
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