AXT vs Lightwave Logic
AXT reported revenue of $88 million in fiscal 2025, 441.5 times Lightwave Logic's $0 million in fiscal 2025. AXT's revenue fell 11.1% in its latest year, and Lightwave Logic's grew 147.7%. AXT had an operating margin of -24.9%, against -8765.5% at Lightwave Logic. Free cash flow was −$19 million at AXT and −$15 million at Lightwave Logic.
Side by side
| AXT | Lightwave Logic | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2025, Dec 31, 2025 |
| Revenue | $88M | $0M |
| Revenue growth | −11.1% | 147.7% |
| Revenue growth a year, last 5 years | −1.5% | — |
| Gross margin | 12.7% | 97.1% |
| Operating margin | −24.9% | −8,765.5% |
| Net margin | −24.1% | −8,576.5% |
| Free cash flow | −$19M | −$15M |
| Free cash flow margin | −21.3% | −6,367.2% |
| Return on capital | — | — |
| Net debt to EBITDA | — | — |
| Dividends and buybacks | $0M | $0M |
| Change in diluted share count | 1.8% | 6.7% |
| Last close | $38.88 | $4.37 |
| P/E at the last close | — | — |
| Insider trades, last 12 months | sold $76.3 million | sold $1.4 million |
| Piotroski F-score | — | — |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
AXTLightwave Logic
Operating margin
Percent of revenue
AXTLightwave Logic
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
AXTLightwave Logic
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the AXT and Lightwave Logic pages.