Financial Statements — LWLG
Balance Sheet
(in millions USD)| Metric | Q2 2026 | Q1 2026 | Q3 2025 | Q2 2025 | Q1 2025 | Q3 2024 | Q2 2024 | Q1 2024 | Q3 2023 | Q2 2023 | Q1 2023 | Q3 2022 | Q2 2022 | Q1 2022 | Q3 2021 | Q2 2021 | Q1 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | 47.21 | 75.10 | 34.94 | 22.11 | 25.05 | 26.88 | 29.20 | 31.51 | 30.88 | 32.64 | 26.17 | 25.02 | 24.83 | 24.34 | 12.19 | 13.91 | 6.52 |
| Short-term Investments | 48.70 | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Accounts Receivable | 0.02 | 0.22 | 0.04 | 0.01 | 0.02 | 0.03 | 0.01 | 0.06 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Total Current Assets | 98.08 | 76.50 | 35.46 | 22.76 | 25.55 | 27.47 | 29.96 | 32.26 | 31.44 | 33.45 | 26.87 | 26.26 | 25.61 | 24.55 | 12.54 | 14.35 | 6.75 |
| Property, Plant & Equipment | 5.79 | 5.19 | 5.32 | 5.72 | 6.12 | 5.77 | 5.81 | 5.40 | 3.60 | 3.00 | 2.51 | 2.65 | 2.10 | 2.14 | 2.14 | 2.14 | 2.19 |
| Intangible Assets | 1.88 | 1.83 | 1.51 | 1.41 | 1.37 | 1.30 | 1.28 | 1.29 | 1.18 | 1.17 | 1.12 | 0.84 | 0.85 | 0.87 | 0.87 | 0.89 | 0.90 |
| Total Non-current Assets* | 10.00 | 9.41 | 9.33 | 9.68 | 10.09 | 9.76 | 9.83 | 9.48 | 7.66 | 7.10 | 3.94 | 3.89 | 3.39 | 3.50 | 3.59 | 3.65 | 3.75 |
| Total Assets | 108.08 | 85.91 | 44.79 | 32.44 | 35.64 | 37.24 | 39.80 | 41.74 | 39.10 | 40.55 | 30.81 | 30.15 | 29.01 | 28.05 | 16.13 | 17.99 | 10.50 |
| Accounts Payable | 0.45 | 0.78 | 0.39 | 0.32 | 0.53 | 0.45 | 0.92 | 1.00 | 0.43 | 0.42 | 0.36 | 0.58 | 0.33 | 0.40 | 0.19 | 0.13 | 0.11 |
| Total Current Liabilities | 1.56 | 2.25 | 1.14 | 1.10 | 1.54 | 1.12 | 1.49 | 1.81 | 0.87 | 0.92 | 0.83 | 1.09 | 0.72 | 0.85 | 0.66 | 0.49 | 0.38 |
| Total Non-current Liabilities* | 2.29 | 2.35 | 2.45 | 2.50 | 2.55 | 2.64 | 2.69 | 2.73 | 2.81 | 2.86 | 0.15 | 0.27 | 0.32 | 0.38 | 0.49 | 0.55 | 0.60 |
| Total Liabilities | 3.86 | 4.60 | 3.60 | 3.60 | 4.09 | 3.76 | 4.18 | 4.54 | 3.68 | 3.78 | 0.98 | 1.35 | 1.05 | 1.23 | 1.15 | 1.04 | 0.98 |
| Retained Earnings | (180.23) | (173.61) | (165.88) | (156.66) | (155.10) | (144.87) | (139.57) | (133.55) | (122.93) | (117.77) | (112.31) | (101.76) | (96.96) | (93.16) | (81.49) | (77.25) | (72.71) |
| Total Stockholder Equity* | 104.22 | 81.31 | 41.19 | 28.83 | 31.55 | 33.47 | 35.62 | 37.20 | 35.42 | 36.78 | 29.83 | 28.79 | 27.96 | 26.82 | 14.98 | 16.96 | 9.51 |
* Derived from reported values
Income Statement
(in millions USD) (except per-share rows)| Metric | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 | Q3 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Revenue | 0.03 | 0.03 | 0.16 | 0.03 | 0.00 | 0.02 | 0.00 | 0.00 | 0.00 | 0.01 | 0.04 | 0.00 | 0.00 | -- | -- | -- | -- | -- | -- | 0.00 |
| Cost of Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Gross Profit* | 0.03 | 0.03 | 0.16 | 0.03 | 0.02 | 0.02 | 0.02 | 0.02 | 0.04 | 0.01 | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Research & Development | 3.88 | 3.49 | 2.86 | 2.92 | 2.62 | 3.09 | 4.00 | 3.83 | 4.36 | 4.62 | 3.90 | 4.04 | 4.17 | 3.80 | 3.81 | 3.59 | 2.78 | 2.63 | 4.71 | 3.63 |
| Selling, General & Admin | 3.42 | 3.26 | 3.07 | 2.29 | 2.30 | 1.84 | 1.73 | 1.49 | 1.90 | 1.26 | 1.48 | 1.35 | 1.17 | 1.36 | 1.32 | 1.14 | 0.99 | 0.89 | 2.68 | 0.62 |
| Total Operating Expenses* | 7.30 | 6.75 | 5.94 | 5.21 | 4.93 | 4.93 | 5.72 | 5.32 | 6.28 | 5.86 | -- | -- | -- | -- | -- | -- | -- | 3.51 | 7.39 | 4.25 |
| Operating Income | (7.27) | (6.73) | (5.78) | (5.18) | (4.90) | (4.91) | (5.70) | (5.30) | (6.24) | (5.85) | (5.34) | (5.39) | (5.34) | (5.16) | (5.13) | (4.73) | (3.77) | (3.51) | (7.39) | (4.25) |
| Interest Expense | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | 0.07 | 0.03 | 0.22 | 0.36 | 0.03 | 0.07 | 0.05 | -- | -- | -- |
| Pretax Income* | (6.61) | (6.30) | -- | (5.10) | (4.97) | (4.70) | -- | (5.30) | (6.02) | (5.68) | -- | (5.16) | (5.46) | -- | -- | -- | -- | -- | -- | -- |
| Tax Provision | 0.00 | 0.00 | -- | 0.00 | 0.00 | 0.00 | -- | 0.00 | 0.00 | 0.00 | -- | 0.00 | 0.00 | -- | -- | -- | -- | -- | -- | -- |
| Net Income | (6.61) | (6.30) | (5.55) | (5.10) | (4.97) | (4.70) | (5.53) | (5.30) | (6.02) | (5.68) | (4.94) | (5.16) | (5.46) | (5.48) | (5.07) | (4.80) | (3.80) | (3.56) | (8.11) | (4.25) |
| Basic EPS | (0.04) | (0.04) | -- | (0.04) | (0.04) | (0.04) | (0.05) | (0.04) | (0.05) | (0.05) | (0.04) | (0.04) | (0.05) | (0.05) | (0.05) | (0.04) | (0.03) | (0.03) | -- | -- |
| Diluted EPS | (0.04) | (0.04) | (0.03) | (0.04) | (0.04) | (0.04) | (0.05) | (0.04) | (0.05) | (0.05) | (0.04) | (0.04) | (0.05) | (0.05) | (0.05) | (0.04) | (0.03) | (0.03) | -- | -- |
* Derived from reported values
Cash Flow Statement
(in millions USD)| Metric | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 | Q3 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | (5.82) | (4.06) | (3.31) | (3.18) | (3.77) | (3.49) | (3.14) | (3.59) | (4.05) | (4.77) | (2.32) | (2.91) | (3.26) | (3.75) | (2.77) | (2.46) | (2.70) | (2.55) | (5.74) | (1.31) |
| Capital Expenditures | 1.07 | 0.45 | 0.38 | 0.06 | 0.04 | 0.85 | 0.33 | 0.35 | 0.81 | 0.78 | 1.48 | 0.84 | 0.73 | 0.25 | 0.14 | 0.80 | 0.19 | 0.18 | 0.25 | 0.21 |
| Free Cash Flow* | (6.89) | (4.51) | (3.69) | (3.24) | (3.81) | (4.34) | (3.47) | (3.94) | (4.86) | (5.55) | (3.80) | (3.75) | (3.99) | (3.99) | (2.90) | (3.25) | (2.89) | (2.73) | (5.99) | (1.52) |
| Investing Cash Flow | (49.86) | (0.62) | (0.59) | (0.22) | (0.10) | (0.90) | (0.42) | (0.63) | (0.82) | (0.83) | (1.57) | (0.87) | (0.80) | 0.29 | (0.40) | (1.39) | (0.19) | (0.22) | (0.25) | (0.21) |
| Financing Cash Flow | 27.79 | 10.77 | 37.98 | 16.24 | 0.93 | 1.77 | 4.34 | 1.90 | 2.56 | 5.68 | 4.45 | 2.02 | 10.53 | 5.53 | 2.25 | 4.04 | 3.38 | 3.67 | 17.23 | (0.20) |
* Derived from reported values