Lightwave Logic, Inc. Releases Q3 2023 10-Q Report Highlighting Initial Revenue and Strategic Developments
Bacaan 2 minit
Lightwave Logic, Inc., a technology company specializing in the development of electro-optic polymers for high-speed fiber-optic communications, has released its Form 10-Q report for the third quarter of 2023. The report marks a significant milestone as the company commenced commercial operations and outlines both financial and operational highlights.
Financial Highlights
- Net Sales: $49,772. The company began generating revenue from a material supply and license agreement in May 2023.
- Loss from Operations: $(12,090,445). The substantial loss reflects ongoing research and development expenses.
- Net Loss: $(11,699,595). The net loss increased compared to the previous year, primarily due to higher research and development and general administrative expenses.
- Basic Loss Per Share: $(0.10). The loss per share remained consistent with the previous year, indicating stable share dilution despite increased losses.
Business Highlights
- Revenue Segments: The company commenced commercial operations in May 2023 with a material supply license agreement for Perkinamine® chromophore materials used in polymer-based photonic devices and photonic integrated circuits (PICs). This agreement marks a significant step in the company's business plan to generate revenue from technology licensing agreements.
- New Product Launches: The company is developing several optical devices using its proprietary electro-optical polymer material, including the Ridge Waveguide Modulator, Polymer Stack™, Polymer Plus™, and Polymer Slot™. These products are in various stages of development and target the fiber optics communications market.
- New Production Launches: The company has partnered with commercial silicon-based fabrication companies (foundries) to scale its technology quickly and efficiently. The process development kit (PDK) is being implemented with foundries to receive working modulator chips, focusing on the Polymer Plus™ and Polymer Slot™ polymer modulators.
- Future Outlook: The company plans to continue developing its proprietary organic electro-optic polymer material systems and photonic devices based on its P2IC™ technology. It aims to grow its commercial device development capabilities, partner with silicon-based foundries for volume scaling, and expand its product reliability and quality assurance capabilities.
- Device Design and Development: The company is focused on designing proprietary electro-optical modulation devices that convert data from electric signals into optical signals for high-speed fiber-optic cables. These modulators are key components in fiber optic telecommunications, data communications, and data centers networks.
- Materials Development: The company designs and synthesizes organic chromophores for use in its proprietary electro-optic polymer systems and photonic device designs. These systems are customized to achieve specific optical properties and are expected to replace more expensive, higher power-consuming materials currently used in fiber-optic communication networks.
- Business Strategy: The company's strategy includes deriving revenue from technology licensing, joint venture relationships with industry leaders, and the production and direct sale of its electro-optic device components. It aims to be a leading provider of proprietary technology and know-how in the electro-optic device market.
- Target Markets: The company is targeting applications in fiber optic data communications and telecommunications markets, as well as exploring other applications such as automotive/LIDAR, sensing, and displays. It aims to make its polymer technology platform ubiquitous across many market verticals.