Lightwave Logic (NASDAQ:LWLG) held its 2026 Annual Meeting of Stockholders, where shareholders re-elected two directors, ratified the company’s auditor and heard management address questions on revenue timing, customer tape-outs, quantum computing opportunities and its relationship with Polariton following that company’s acquisition by Marvell.
Ronald Bucchi, chairman of the board, opened the meeting and introduced the company’s directors attending by webcast, including CEO and President Yves LeMaitre, Dr. Craig Ciesla, Laila Partridge, Siraj Nour El-Ahmadi and Thomas Connelly Jr.
Shareholders Re-Elect Directors, Ratify Auditor
According to preliminary voting results announced during the meeting, Laila Partridge and Thomas Connelly Jr. were elected as Class 3 directors. Their terms run until the 2029 Annual Meeting of Stockholders or until their successors are elected and qualified.
Shareholders also ratified the appointment of Stephano Slack LLC as the company’s independent registered public accounting firm for the fiscal year ending Dec. 31, 2026.
Bucchi said the board had recommended votes in favor of both the director nominees and the auditor ratification. No advance notice had been received for any additional director nominations, LeMaitre said.
Management Says Production Revenue Targeted for Second Half of 2027
During the question-and-answer portion of the meeting, LeMaitre addressed a shareholder question about the anticipated timing and type of future revenue.
“We believe that our first production revenue is targeted for the second half of 2027,” LeMaitre said. “Until then, we believe that our revenue will be made up of a combination of non-recurring engineering revenue, as well as potential prototype or sample sales.”
The comments provide a timeline for when management expects production-related revenue to begin, while indicating that near-term revenue may come from non-recurring engineering work and limited prototype or sample activity.
Four Customers in Stage Three of Design Win Process
LeMaitre also discussed customer engagement and tape-out timing. He said Lightwave Logic has “currently announced four customers” at what the company calls stage three of its design win process, which he described as the phase of moving from prototyping to a full product.
“All of these customers have active tape-outs with us that are either already being taped out to foundries or are in the process of being prepared for this year,” LeMaitre said.
He declined to provide the number of tape-outs or specific details, citing confidentiality. However, he said the company expects its first chips from those tape-outs to come back from foundries “before the end of Q3 2026.”
Quantum Opportunity Discussed, But AI and Optical Communications Remain Focus
In response to a shareholder question referencing government interest in quantum computing companies, as well as Lightwave Logic’s Perkinamine 5 and QPICs partnership, LeMaitre said the company does not yet have solid market-size figures to provide for the quantum opportunity most relevant to its technology.
He said the company’s technology appears most relevant to “the photonic processing of quantum,” but added that the company’s current priorities remain elsewhere.
“The goal this year for us is to remain focused on our AI and optical communication market and validate the relevance of our technology platform for quantum,” LeMaitre said. He added that he expects to provide updates during the year on quantum-related progress, while emphasizing that the company’s focus is on AI networking and optical communication.
LeMaitre Addresses Polariton and Marvell Connection
LeMaitre also responded to a question about the connection between Marvell, Polariton and Lightwave Logic. He said the company has been a long-time supplier of polymer material or perfluorinated material to Polariton.
LeMaitre noted that Polariton was recently acquired by Marvell and is being integrated into that company. He said Lightwave Logic’s goal is to maintain the partnership and “continue to be a critical supplier to Marvell going forward.”
The meeting concluded after the shareholder questions, with management thanking attendees for their support.
About Lightwave Logic (NASDAQ:LWLG)
Lightwave Logic, Inc (NASDAQ: LWLG) is a U.S.-based photonics company focused on the development and commercialization of proprietary electro‐optic polymer materials and devices for high-speed optical communications. The company’s core technology platform centers on organic electro-optic polymers that offer low drive voltage, high modulation bandwidth and integration flexibility, enabling next-generation optical interconnects for data centers, telecommunications and emerging photonic computing architectures.
Lightwave Logic’s product pipeline includes modulators, waveguides and integrated photonic components designed to outperform traditional lithium-niobate and silicon-based solutions in terms of size, power consumption and ease of integration.
