1.Sales and profit
See section β- Innovative Eyewear Inc had $2.7M of revenue in fiscal 2025, up 62.7% on the year before.
- Innovative Eyewear Inc lost $7.6M in fiscal 2025.
Innovative Eyewear Inc
LUCY Nasdaq Ophthalmic Goods Financials FY2021βFY2025
Innovative Eyewear Inc had $2.7M of revenue in fiscal 2025, up 62.7% on the year before.
Last close Β· Oct 23, 2026
$0.87
0.7%KIRAβs summary AI analyst
Hi! I read Innovative Eyewear Incβs latest annual report (fiscal 2025). Here is what stands out:
1 strength 2 to watch
2.Cash and shareholders
See section β- Free cash flow was β$7.3M in fiscal 2025, β276.1% of revenue.
- In the last 12 months, insiders bought $1.6M and sold $0.1M of shares on the open market.
3.Financial health
See section β- Innovative Eyewear Inc passes 4 of 8 financial health tests (Piotroski F-score).
Innovative Eyewear Inc in 30 seconds
Good So-so Weak
Good
Are sales growing?
+62.7%
Yes. Sales grew 62.7% last year.
Weak
Does it make a profit?
β285.2%
No. It lost money last year.
Weak
Does profit turn into cash?
β276.1%
No. It spent more cash than it brought in.
So-so
How healthy are the accounts?
4 / 8
Mixed. It passes 4 of 8 health tests.
For information
How is the share priced?
β
No P/E: it made no profit over the last four quarters.
Rules of thumb on reported numbers. A starting point, not a recommendation.
Key numbers, fiscal 2025
Market cap
Last close times the latest diluted share count, so it is approximate.
$5.6M
Oct 23 close
P/E
Last close divided by diluted earnings per share over the last four quarters.
β
On β$1.15 EPS (TTM)
Charts by
Sales and profit
Is it selling more, and how much does it keep?
Revenue and margins
KIRA Β· Innovative Eyewear Inc had $2.7M of revenue in fiscal 2025, up 62.7% on the year before.
In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).
Revenue
FY21
Revenue $0.7M
FY22
Revenue $0.7M
FY23
Revenue $1.2M
FY24
Revenue $1.6M
FY25
Revenue $2.7M
Revenue
Q3 '23
Revenue $0.2M
Q4 '23
Revenue $0.6M
Q1 '24
Revenue $0.4M
Q2 '24
Revenue $0.3M
Q3 '24
Revenue $0.3M
Q4 '24
Revenue $0.7M
Q1 '25
Revenue $0.5M
Q2 '25
Revenue $0.6M
Q3 '25
Revenue $0.7M
Q4 '25
Revenue $1.0M
Q1 '26
Revenue $0.8M
Q2 '26
Revenue $1.0M
Margins, % of revenue
FY21
Gross 21.5%
Operating β
Net β469.7%
FCF β178.8%
FY22
Gross β8.5%
Operating β
Net β861.1%
FCF β507.1%
FY23
Gross β10.4%
Operating β
Net β578.2%
FCF β507.1%
FY24
Gross 13.2%
Operating β
Net β474.6%
FCF β415.7%
FY25
Gross 21.3%
Operating β
Net β285.2%
FCF β276.1%
Gross
Operating
Net
FCF
Margins, % of revenue
Q3 '23
Gross 36.2%
Operating β
Net β699.0%
FCF β635.1%
Q4 '23
Gross β29.2%
Operating β
Net β388.7%
FCF β213.5%
Q1 '24
Gross 1.8%
Operating β
Net β514.0%
FCF β391.1%
Q2 '24
Gross 17.9%
Operating β
Net β631.2%
FCF β626.1%
Q3 '24
Gross 23.4%
Operating β
Net β678.5%
FCF β551.9%
Q4 '24
Gross 13.6%
Operating β
Net β307.8%
FCF β285.2%
Q1 '25
Gross 48.5%
Operating β
Net β391.4%
FCF β517.4%
Q2 '25
Gross β2.2%
Operating β
Net β363.6%
FCF β365.4%
Q3 '25
Gross 36.6%
Operating β
Net β274.9%
FCF β226.3%
Q4 '25
Gross 12.0%
Operating β
Net β194.8%
FCF β142.5%
Q1 '26
Gross 22.7%
Operating β
Net β298.5%
FCF β
Q2 '26
Gross 24.0%
Operating β
Net β165.3%
FCF β
Gross
Operating
Net
FCF
Net income and earnings per share
KIRA Β· Innovative Eyewear Inc lost $7.6M in fiscal 2025.
Loss periods are shown in red.
In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.
Net income
FY21
Net income β$3.2M
FY22
Net income β$5.7M
FY23
Net income β$6.7M
FY24
Net income β$7.8M
FY25
Net income β$7.6M
Net income
Q3 '23
Net income β$1.6M
Q4 '23
Net income β$2.4M
Q1 '24
Net income β$2.0M
Q2 '24
Net income β$1.9M
Q3 '24
Net income β$1.7M
Q4 '24
Net income β$2.1M
Q1 '25
Net income β$1.8M
Q2 '25
Net income β$2.1M
Q3 '25
Net income β$1.8M
Q4 '25
Net income β$1.9M
Q1 '26
Net income β$2.3M
Q2 '26
Net income β$1.7M
Diluted EPS
FY21
Diluted EPS β
FY22
Diluted EPS β$0.87
FY23
Diluted EPS β$10.87
FY24
Diluted EPS β$5.19
FY25
Diluted EPS β$1.90
Diluted EPS
Q3 '23
Diluted EPS β$2.08
Q4 '23
Diluted EPS β$6.04
Q1 '24
Diluted EPS β$2.59
Q2 '24
Diluted EPS β$1.87
Q3 '24
Diluted EPS β$0.99
Q4 '24
Diluted EPS $0.26
Q1 '25
Diluted EPS β$0.72
Q2 '25
Diluted EPS β$0.66
Q3 '25
Diluted EPS β$0.38
Q4 '25
Diluted EPS β$0.14
Q1 '26
Diluted EPS β$0.37
Q2 '26
Diluted EPS β$0.26
Cash and shareholders
How much cash comes in, and where does it go?
Cash flow
KIRA Β· Free cash flow was β$7.3M in fiscal 2025, β276.1% of revenue.
Cash from operations minus capital spending.
In plain words: Profit on paper is not the same as cash in the bank. Free cash flow is the cash left after paying to run and maintain the business: the money it can hand back to shareholders, save or invest.
Free cash flow
FY21
Free cash flow β$1.2M
FY22
Free cash flow β$3.3M
FY23
Free cash flow β$5.8M
FY24
Free cash flow β$6.8M
FY25
Free cash flow β$7.3M
Free cash flow
Q3 '23
Free cash flow β$1.4M
Q4 '23
Free cash flow β$1.3M
Q1 '24
Free cash flow β$1.5M
Q2 '24
Free cash flow β$1.9M
Q3 '24
Free cash flow β$1.4M
Q4 '24
Free cash flow β$2.0M
Q1 '25
Free cash flow β$2.4M
Q2 '25
Free cash flow β$2.1M
Q3 '25
Free cash flow β$1.5M
Q4 '25
Free cash flow β$1.4M
Q1 '26
Free cash flow β
Q2 '26
Free cash flow β
Cash from operations vs capital spending
FY21
Cash from operations β$1.2M
Capital spending $0.0M
FY22
Cash from operations β$3.2M
Capital spending $0.1M
FY23
Cash from operations β$5.8M
Capital spending $0.1M
FY24
Cash from operations β$6.7M
Capital spending $0.1M
FY25
Cash from operations β$7.3M
Capital spending $0.1M
Cash from operations
Capital spending
Cash from operations vs capital spending
Q3 '23
Cash from operations β$1.3M
Capital spending $0.1M
Q4 '23
Cash from operations β$1.3M
Capital spending β$0.0M
Q1 '24
Cash from operations β$1.5M
Capital spending $0.0M
Q2 '24
Cash from operations β$1.9M
Capital spending $0.0M
Q3 '24
Cash from operations β$1.4M
Capital spending $0.0M
Q4 '24
Cash from operations β$1.9M
Capital spending $0.0M
Q1 '25
Cash from operations β$2.3M
Capital spending $0.0M
Q2 '25
Cash from operations β$2.1M
Capital spending $0.0M
Q3 '25
Cash from operations β$1.5M
Capital spending $0.0M
Q4 '25
Cash from operations β$1.4M
Capital spending $0.0M
Q1 '26
Cash from operations β$2.5M
Capital spending β
Q2 '26
Cash from operations β$1.9M
Capital spending β
Cash from operations
Capital spending
Dividends, buybacks and share count
In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).
Dividends and buybacks
FY21
Dividends β
Buybacks β
FY22
Dividends β
Buybacks β
FY23
Dividends β
Buybacks β
FY24
Dividends β
Buybacks β
FY25
Dividends β
Buybacks β
Dividends
Buybacks
Diluted shares outstanding (annual)
FY21
Diluted shares β
FY22
Diluted shares 0.01B
FY23
Diluted shares 0.00B
FY24
Diluted shares 0.00B
FY25
Diluted shares 0.00B
Insider trades
KIRA Β· In the last 12 months, insiders bought $1.6M and sold $0.1M of shares on the open market.
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. βPlanβ marks trades under a pre-arranged Rule 10b5-1 plan.
In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.
Bought, 12 months
$1.6M
4 insiders
Sold, 12 months
$0.1M
5 insiders
Of sales under plans
0%
$0.0M
| Date | Insider | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Aug 19, 2026 | David Eric CohenChief Technology Officer | Sold | 6,136 | $0.68 | $0.0M | Form 4 |
| Aug 19, 2026 | Oswald GayleChief Financial Officer | Sold | 7,959 | $0.67 | $0.0M | Form 4 |
| Aug 19, 2026 | Konrad DabrowskiChief AI & Growth Officer | Sold | 6,935 | $0.69 | $0.0M | Form 4 |
| Aug 19, 2026 | Harrison R. GrossChief Executive Officer, Director | Sold | 13,974 | $0.70 | $0.0M | Form 4 |
| Aug 19, 2026 | Joaquin AbondanoChief Operating Officer | Sold | 5,020 | $0.68 | $0.0M | Form 4 |
| Jul 6, 2026 | David Eric CohenChief Technology Officer | Sold | 1,860 | $1.17 | $0.0M | Form 4 |
| Apr 9, 2026 | David Eric CohenChief Technology Officer | Sold | 1,860 | $1.11 | $0.0M | Form 4 |
| Apr 2, 2026 | David Eric CohenChief Technology Officer | Sold | 5,913 | $1.04 | $0.0M | Form 4 |
| Apr 2, 2026 | Oswald GayleChief Financial Officer | Sold | 7,574 | $1.07 | $0.0M | Form 4 |
| Apr 2, 2026 | Konrad DabrowskiChief AI & Growth Officer | Sold | 6,692 | $1.06 | $0.0M | Form 4 |
| Apr 2, 2026 | Joaquin AbondanoChief Operating Officer | Sold | 4,779 | $1.05 | $0.0M | Form 4 |
| Apr 2, 2026 | Harrison R. GrossChief Executive Officer, Director | Sold | 13,764 | $1.07 | $0.0M | Form 4 |
| Jan 21, 2026 | Harrison R. GrossChief Executive Officer, Director | Bought | 1,500 | $1.32 | $0.0M | Form 4 |
| Jan 13, 2026 | Oswald GayleChief Financial Officer | Bought | 1,000 | $1.67 | $0.0M | Form 4 |
| Jan 8, 2026 | Konrad DabrowskiChief AI & Growth Officer | Bought | 1,300 | $1.58 | $0.0M | Form 4 |
| Jan 8, 2026 | Harrison R. GrossChief Executive Officer, Director | Bought | 1,500 | $1.60 | $0.0M | Form 4 |
| Jan 7, 2026 | Vladimir Galkin10% owner | Bought | 643,505 | $1.79 | $1.2M | Form 4 |
| Jan 2, 2026 | Vladimir Galkin10% owner | Bought | 1,262 | $0.97 | $0.0M | Form 4 |
| Jan 2, 2026 | Vladimir Galkin10% owner | Bought | 4,000 | $1.02 | $0.0M | Form 4 |
| Dec 31, 2025 | Vladimir Galkin10% owner | Bought | 89,830 | $0.99 | $0.1M | Form 4 |
| Dec 30, 2025 | Vladimir Galkin10% owner | Bought | 11,303 | $1.08 | $0.0M | Form 4 |
| Dec 29, 2025 | Vladimir Galkin10% owner | Bought | 46,107 | $1.10 | $0.1M | Form 4 |
| Dec 26, 2025 | Vladimir Galkin10% owner | Bought | 90,709 | $1.22 | $0.1M | Form 4 |
| Dec 24, 2025 | Vladimir Galkin10% owner | Bought | 928 | $1.31 | $0.0M | Form 4 |
| Dec 23, 2025 | Vladimir Galkin10% owner | Bought | 32,958 | $1.33 | $0.0M | Form 4 |
| Dec 22, 2025 | Vladimir Galkin10% owner | Bought | 367 | $1.35 | $0.0M | Form 4 |
| Dec 19, 2025 | Vladimir Galkin10% owner | Bought | 4,835 | $1.37 | $0.0M | Form 4 |
| Dec 18, 2025 | Vladimir Galkin10% owner | Bought | 7,600 | $1.38 | $0.0M | Form 4 |
| Dec 17, 2025 | Vladimir Galkin10% owner | Bought | 5,366 | $1.38 | $0.0M | Form 4 |
| Dec 11, 2025 | Vladimir Galkin10% owner | Bought | 8,423 | $1.58 | $0.0M | Form 4 |
| Dec 10, 2025 | Vladimir Galkin10% owner | Bought | 50,300 | $1.49 | $0.1M | Form 4 |
| Dec 4, 2025 | Vladimir Galkin10% owner | Bought | 2,507 | $1.50 | $0.0M | Form 4 |
Financial health
Can it carry its debts, and how well does it use its money?
Balance sheet
Cash, debt and the ratios that show how comfortably Innovative Eyewear Inc can carry it.
In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.
Cash vs debt (incl. leases)
FY21
Cash $0.1M
Debt β
FY22
Cash $3.6M
Debt β
FY23
Cash $4.3M
Debt β
FY24
Cash $2.6M
Debt β
FY25
Cash $6.5M
Debt β
Cash
Debt
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $0.1M | $3.6M | $4.3M | $2.6M | $6.5M |
| Current ratio | 1.0x | 7.1x | 9.0x | 12.5x | 9.0x |
| Quick ratio | 0.6x | 6.9x | 8.1x | 11.4x | 7.4x |
| Total assets | $0.8M | $4.7M | $6.2M | $9.8M | $10.1M |
| Total liabilities | $0.6M | $0.7M | $0.7M | $0.7M | $1.1M |
| Shareholders' equity | $0.2M | $4.0M | $5.6M | $9.1M | $9.1M |
| Net debt (β = net cash) | β | β | β | β | β |
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.
Return on capital, equity and assets (annual)
FY21
Return on capital β
Return on equity β1,563.6%
Return on assets β393.6%
FY22
Return on capital β
Return on equity β268.5%
Return on assets β206.1%
FY23
Return on capital β
Return on equity β139.1%
Return on assets β122.2%
FY24
Return on capital β
Return on equity β106.0%
Return on assets β96.7%
FY25
Return on capital β
Return on equity β83.6%
Return on assets β76.0%
Return on capital
Return on equity
Return on assets
Piotroski F-score
KIRA Β· Innovative Eyewear Inc passes 4 of 8 financial health tests (Piotroski F-score).
Nine pass/fail tests of profitability, funding and efficiency. 8β9 is strong, 0β2 weak.
In plain words: Nine yes/no tests of financial health, one point each. A green tick is a pass: 7 to 9 points is solid, 0 to 3 is weak.
| Test | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Net income is positive | β | β | β | β | β |
| Cash from operations is positive | β | β | β | β | β |
| Return on assets rose | β | β | β | β | β |
| Cash from operations exceeds net income | β | β | β | β | β |
| Debt fell relative to assets | β | β | β | β | β |
| Current ratio rose | β | β | β | β | β |
| Share count didn't rise | β | β | β | β | β |
| Gross margin rose | β | β | β | β | β |
| Revenue rose relative to assets | β | β | β | β | β |
| F-score | β / 3 | 3 / 7 | 5 / 8 | 4 / 8 | 4 / 8 |
| Accruals ratio | β246.3% | β89.1% | β16.4% | β12.8% | β3.2% |
| Altman Z'' | β | β | β | β | β |
All figures
Every number, year by year.
5 years of figures
Amounts in USD. Hover a ratioβs name for its definition.
In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Income statement | |||||
| Revenue | $0.7M | $0.7M | $1.2M | $1.6M | $2.7M |
| Gross profit | $0.1M | β$0.1M | β$0.1M | $0.2M | $0.6M |
| Research and development | $0.1M | $0.5M | $0.7M | $0.8M | $0.7M |
| Interest expense | $0.0M | $0.1M | $0.0M | β | β |
| Net income | β$3.2M | β$5.7M | β$6.7M | β$7.8M | β$7.6M |
| Diluted EPS | β | β$0.87 | β$10.87 | β$5.19 | β$1.90 |
| Diluted shares | β | 0.01B | 0.00B | 0.00B | 0.00B |
| Cash flow | |||||
| Cash from operations | β$1.2M | β$3.2M | β$5.8M | β$6.7M | β$7.3M |
| Capital expenditure | $0.0M | $0.1M | $0.1M | $0.1M | $0.1M |
| Free cash flow | β$1.2M | β$3.3M | β$5.8M | β$6.8M | β$7.3M |
| Depreciation and amortization | $0.0M | $0.0M | $0.1M | $0.1M | $0.1M |
| Stock-based compensation | $1.3M | $1.5M | $0.9M | $0.8M | $0.7M |
| Balance sheet | |||||
| Cash and short-term investments | $0.1M | $3.6M | $4.3M | $2.6M | $6.5M |
| Current assets | $0.6M | $4.2M | $5.6M | $9.2M | $9.4M |
| Current liabilities | $0.6M | $0.6M | $0.6M | $0.7M | $1.0M |
| Inventory | $0.3M | $0.1M | $0.5M | $0.8M | $1.7M |
| Property and equipment, net | $0.0M | $0.1M | $0.2M | $0.1M | $0.1M |
| Intangible assets | $0.1M | $0.1M | $0.3M | $0.5M | $0.6M |
| Total assets | $0.8M | $4.7M | $6.2M | $9.8M | $10.1M |
| Total liabilities | $0.6M | $0.7M | $0.7M | $0.7M | $1.1M |
| Shareholders' equity | $0.2M | $4.0M | $5.6M | $9.1M | $9.1M |
| Margins | |||||
| Gross margin | 21.5% | β8.5% | β10.4% | 13.2% | 21.3% |
| Net margin | β469.7% | β861.1% | β578.2% | β474.6% | β285.2% |
| FCF margin | β178.8% | β507.1% | β507.1% | β415.7% | β276.1% |
| Returns | |||||
| Return on equity | β1,563.6% | β268.5% | β139.1% | β106.0% | β83.6% |
| Return on assets | β393.6% | β206.1% | β122.2% | β96.7% | β76.0% |
| Return on tangible equity | β2,699.3% | β146.2% | β126.4% | β89.9% | β89.2% |
| Growth | |||||
| Revenue growth | β | β4.5% | 74.7% | 42.0% | 62.7% |
| Share count change | β | β | β90.6% | 144.1% | 166.8% |
| Financial health | |||||
| Current ratio | 1.0x | 7.1x | 9.0x | 12.5x | 9.0x |
| Quick ratio | 0.6x | 6.9x | 8.1x | 11.4x | 7.4x |
| Capital allocation | |||||
| Capex / revenue | 3.0% | 18.4% | 6.8% | 3.8% | 2.7% |
| Stock comp / revenue | 193.3% | 223.4% | 81.3% | 47.3% | 27.7% |
| Quality scores | |||||
| Piotroski F-score | β | 3.0 | 5.0 | 4.0 | 4.0 |
| Accruals ratio | β246.3% | β89.1% | β16.4% | β12.8% | β3.2% |
Source: SEC EDGAR XBRL filings (CIK 0001808377). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only β not investment advice. Check the original filings before relying on any figure.