INNOVATIVE EYEWEAR INC Financials

LUCYW

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

This page shows INNOVATIVE EYEWEAR INC (LUCYW) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 4 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 75/100

Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores

Growth

100

INNOVATIVE EYEWEAR INC's revenue surged 42.0% year-over-year to $1.6M, reflecting rapid business expansion. This strong growth earns a score of 100/100.

Leverage

100

INNOVATIVE EYEWEAR INC carries a low D/E ratio of 0.08, meaning only $0.08 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

100

With a current ratio of 12.52, INNOVATIVE EYEWEAR INC holds $12.52 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.

Cash Flow

While INNOVATIVE EYEWEAR INC generated -$6.7M in operating cash flow, capex of $62K consumed most of it, leaving -$6.8M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.

Piotroski F-Score Neutral

4/9

INNOVATIVE EYEWEAR INC passes 4 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality Low Quality

0.87x

For every $1 of reported earnings, INNOVATIVE EYEWEAR INC generates $0.87 in operating cash flow (-$6.7M OCF vs -$7.8M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Key Financial Metrics

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Revenue

$1.6M

YoY+42.0%

INNOVATIVE EYEWEAR INC generated $1.6M in revenue in fiscal year 2024. This represents an increase of 42.0% from the prior year.

EBITDA

N/A

Free Cash Flow

-$6.8M

YoY-16.4%

INNOVATIVE EYEWEAR INC generated -$6.8M in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 16.4% from the prior year.

Net Income

-$7.8M

YoY-16.6%

INNOVATIVE EYEWEAR INC reported -$7.8M in net income in fiscal year 2024. This represents a decrease of 16.6% from the prior year.

EPS (Diluted)

$-5.19

INNOVATIVE EYEWEAR INC earned $-5.19 per diluted share (EPS) in fiscal year 2024. This represents an increase of 52.3% from the prior year.

Cash & Debt

$2.6M

YoY-38.7%

INNOVATIVE EYEWEAR INC held $2.6M in cash against $0 in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

INNOVATIVE EYEWEAR INC had 2M shares outstanding in fiscal year 2024. This represents an increase of 228.1% from the prior year.

Gross Margin

13.2%

YoY+23.5pp

INNOVATIVE EYEWEAR INC's gross margin was 13.2% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is up 23.5 percentage points from the prior year.

Operating Margin

N/A

Net Margin

-474.6%

YoY+103.6pp

INNOVATIVE EYEWEAR INC's net profit margin was -474.6% in fiscal year 2024, showing the share of revenue converted to profit. This is up 103.6 percentage points from the prior year.

Return on Equity

N/A

R&D Spending

$819K

YoY+23.7%

INNOVATIVE EYEWEAR INC invested $819K in research and development in fiscal year 2024. This represents an increase of 23.7% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$62K

YoY-20.7%

INNOVATIVE EYEWEAR INC invested $62K in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 20.7% from the prior year.

LUCYW Income Statement

Metric	FY24	FY23	FY22	FY21
Revenue	$1.6M+42.0%	$1.2M+74.7%	$660K-4.5%	$691K
Cost of Revenue	$1.4M+11.8%	$1.3M+77.6%	$716K+32.0%	$542K
Gross Profit	$215K+280.3%	-$119K-112.0%	-$56K-138.0%	$148K
R&D Expenses	$819K+23.7%	$662K+26.2%	$525K+508.3%	$86K
SG&A Expenses	$4.5M+15.1%	$3.9M+39.0%	$2.8M+101.8%	$1.4M
Operating Income	N/A	N/A	N/A	N/A
Interest Expense	N/A	$3K-97.1%	$105K+166.7%	$39K
Income Tax	N/A	N/A	N/A	N/A
Net Income	-$7.8M-16.6%	-$6.7M-17.3%	-$5.7M-75.1%	-$3.2M
EPS (Diluted)	$-5.19	$-10.87	$-0.87	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q3'24	Q2'24	Q1'24	Q4'23
Revenue	$668K+15.3%	$579K+27.4%	$455K-34.2%	$691K+172.4%	$254K-17.8%	$309K-19.5%	$383K-37.7%	$616K
Cost of Revenue	$423K-28.5%	$592K+153.0%	$234K-60.8%	$597K+207.3%	$194K-23.4%	$254K-32.7%	$377K-52.7%	$796K
Gross Profit	$245K+2033.2%	-$13K-105.7%	$221K+135.3%	$94K+57.9%	$59K+7.6%	$55K+693.8%	$7K+103.9%	-$180K
R&D Expenses	$130K-51.5%	$268K+27.4%	$211K-2.0%	$215K+63.6%	$131K-48.8%	$257K+18.7%	$216K+79.0%	$121K
SG&A Expenses	$1.3M-2.6%	$1.3M+20.1%	$1.1M+15.2%	$947K-15.6%	$1.1M-13.4%	$1.3M+16.8%	$1.1M+9.9%	$1.0M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$0	$0	$0	N/A	$0	$0	$0	N/A
Net Income	-$1.8M+12.8%	-$2.1M-18.4%	-$1.8M+16.3%	-$2.1M-23.6%	-$1.7M+11.7%	-$1.9M+1.2%	-$2.0M+17.6%	-$2.4M
EPS (Diluted)	$-0.38+42.4%	$-0.66+8.3%	$-0.72-376.9%	$0.26+126.3%	$-0.99+47.1%	$-1.87	$-2.59	$-6.04

LUCYW Balance Sheet

Metric	FY24	FY23	FY22	FY21
Total Assets	$9.8M+58.2%	$6.2M+32.6%	$4.7M+468.9%	$824K
Current Assets	$9.2M+64.5%	$5.6M+32.4%	$4.2M+558.2%	$644K
Cash & Equivalents	$2.6M-38.7%	$4.3M+19.4%	$3.6M+4404.3%	$80K
Inventory	$832K+56.0%	$533K+463.1%	$95K-65.6%	$276K
Accounts Receivable	$108K+15.8%	$93K-15.5%	$110K+154.1%	$43K
Goodwill	N/A	N/A	N/A	N/A
Total Liabilities	$743K+12.6%	$660K-0.8%	$665K+7.9%	$617K
Current Liabilities	$738K+18.1%	$624K+4.1%	$600K-2.7%	$617K
Long-Term Debt	N/A	N/A	N/A	N/A
Total Equity	$9.1M+63.6%	$5.6M+38.1%	$4.0M+1839.3%	$208K
Retained Earnings	-$24.7M-45.8%	-$17.0M-64.7%	-$10.3M-122.9%	-$4.6M

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q3'24	Q2'24	Q1'24	Q4'23
Total Assets	$11.2M-6.4%	$11.9M+50.3%	$7.9M-19.3%	$9.8M-15.2%	$11.6M+47.6%	$7.9M+63.3%	$4.8M-22.6%	$6.2M
Current Assets	$10.6M-6.5%	$11.3M+54.6%	$7.3M-20.7%	$9.2M-16.0%	$11.0M+50.9%	$7.3M+77.3%	$4.1M-26.8%	$5.6M
Cash & Equivalents	$6.7M-12.2%	$7.6M+45.1%	$5.3M+100.0%	$2.6M-42.1%	$4.5M-22.9%	$5.9M+122.6%	$2.6M-38.2%	$4.3M
Inventory	$1.6M-2.6%	$1.7M+48.7%	$1.1M+35.6%	$832K-9.1%	$915K-1.6%	$930K+8.3%	$859K+61.1%	$533K
Accounts Receivable	$83K+43.8%	$58K-35.4%	$90K-16.9%	$108K+33.4%	$81K+31.3%	$62K+16.7%	$53K-43.4%	$93K
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$925K+40.5%	$659K+47.2%	$447K-39.8%	$743K+11.6%	$666K+29.3%	$515K-43.5%	$911K+38.1%	$660K
Current Liabilities	$885K+46.0%	$606K+35.5%	$447K-39.4%	$738K+13.0%	$653K+32.0%	$495K-44.0%	$883K+41.5%	$624K
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$10.3M-9.1%	$11.3M+50.5%	$7.5M-17.6%	$9.1M-16.8%	$10.9M+48.8%	$7.3M+88.2%	$3.9M-29.8%	$5.6M
Retained Earnings	-$30.5M-6.4%	-$28.6M-7.9%	-$26.5M-7.2%	-$24.7M-9.4%	-$22.6M-8.2%	-$20.9M-10.3%	-$18.9M-11.6%	-$17.0M

LUCYW Cash Flow Statement

Metric	FY24	FY23	FY22	FY21
Operating Cash Flow	-$6.7M-16.9%	-$5.8M-78.8%	-$3.2M-165.6%	-$1.2M
Capital Expenditures	$62K-20.7%	$78K-35.5%	$122K+484.9%	$21K
Free Cash Flow	-$6.8M-16.4%	-$5.8M-74.7%	-$3.3M-170.9%	-$1.2M
Investing Cash Flow	-$5.2M-2497.3%	-$199K+9.6%	-$220K-85.7%	-$118K
Financing Cash Flow	$10.2M+53.8%	$6.7M-4.2%	$7.0M+402.1%	$1.4M
Dividends Paid	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q3'24	Q2'24	Q1'24	Q4'23
Operating Cash Flow	-$1.5M+29.2%	-$2.1M+8.4%	-$2.3M-18.9%	-$1.9M-38.8%	-$1.4M+27.5%	-$1.9M-31.5%	-$1.5M-9.4%	-$1.3M
Capital Expenditures	$15K	$0-100.0%	$41K+53.6%	$26K	$0-100.0%	$3K-89.3%	$32K+223.0%	-$26K
Free Cash Flow	-$1.5M+28.5%	-$2.1M+10.0%	-$2.4M-19.4%	-$2.0M-40.7%	-$1.4M+27.6%	-$1.9M-28.9%	-$1.5M-9.7%	-$1.4M
Investing Cash Flow	-$15K+98.8%	-$1.3M-125.8%	$4.9M+8143.2%	-$61K+98.8%	-$5.0M-27191.2%	-$18K+80.9%	-$96K-104.8%	$2.0M
Financing Cash Flow	$584K	N/A	N/A	$90K-98.2%	$5.0M-3.1%	$5.2M+6937.8%	-$76K+73.4%	-$285K
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

LUCYW Financial Ratios

Metric	FY24	FY23	FY22	FY21
Gross Margin	13.2%+23.5pp	-10.3%-1.8pp	-8.5%-30.0pp	21.5%
Operating Margin	N/A	N/A	N/A	N/A
Net Margin	-474.6%+103.6pp	-578.2%+283.0pp	-861.2%-391.4pp	-469.8%
Return on Equity	N/A	N/A	N/A	N/A
Return on Assets	-78.9%+28.2pp	-107.1%+14.0pp	-121.2%+272.4pp	-393.6%
Current Ratio	12.52+3.5	8.99+1.9	7.07+6.0	1.04
Debt-to-Equity	0.08-0.0	0.12-0.0	0.17-2.8	2.97
FCF Margin	-415.7%+91.5pp	-507.2%-0.0pp	-507.1%-328.3pp	-178.8%

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q3'24	Q2'24	Q1'24	Q4'23
Gross Margin	36.6%+38.8pp	-2.2%-50.7pp	48.5%+35.0pp	13.6%-9.8pp	23.4%+5.5pp	17.9%+16.1pp	1.8%+31.1pp	-29.3%
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	-274.8%+88.8pp	-363.6%+27.7pp	-391.4%-83.5pp	-307.8%+370.7pp	-678.5%-47.3pp	-631.2%-117.1pp	-514.1%-125.3pp	-388.7%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-16.4%+1.2pp	-17.6%+4.8pp	-22.4%-0.8pp	-21.6%-6.8pp	-14.8%+10.0pp	-24.8%+16.2pp	-41.0%-2.5pp	-38.5%
Current Ratio	11.98-6.7	18.70+2.3	16.39+3.9	12.52-4.3	16.83+2.1	14.73+10.1	4.65-4.3	8.99
Debt-to-Equity	0.09+0.0	0.060.0	0.06-0.0	0.08+0.0	0.060.0	0.07-0.2	0.23+0.1	0.12
FCF Margin	-226.3%+139.1pp	-365.4%+152.0pp	-517.4%-232.2pp	-285.2%+266.7pp	-551.9%+74.2pp	-626.1%-235.1pp	-391.1%-169.0pp	-222.0%

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Frequently Asked Questions

What is INNOVATIVE EYEWEAR INC's annual revenue?

INNOVATIVE EYEWEAR INC (LUCYW) reported $1.6M in total revenue for fiscal year 2024. This represents a 42.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is INNOVATIVE EYEWEAR INC's revenue growing?

INNOVATIVE EYEWEAR INC (LUCYW) revenue grew by 42% year-over-year, from $1.2M to $1.6M in fiscal year 2024.

Is INNOVATIVE EYEWEAR INC profitable?

No, INNOVATIVE EYEWEAR INC (LUCYW) reported a net income of -$7.8M in fiscal year 2024, with a net profit margin of -474.6%.

What is INNOVATIVE EYEWEAR INC's earnings per share (EPS)?

INNOVATIVE EYEWEAR INC (LUCYW) reported diluted earnings per share of $-5.19 for fiscal year 2024. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

What is INNOVATIVE EYEWEAR INC's gross margin?

INNOVATIVE EYEWEAR INC (LUCYW) had a gross margin of 13.2% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.

What is INNOVATIVE EYEWEAR INC's net profit margin?

INNOVATIVE EYEWEAR INC (LUCYW) had a net profit margin of -474.6% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is INNOVATIVE EYEWEAR INC's free cash flow?

INNOVATIVE EYEWEAR INC (LUCYW) generated -$6.8M in free cash flow during fiscal year 2024. This represents a -16.4% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is INNOVATIVE EYEWEAR INC's operating cash flow?

INNOVATIVE EYEWEAR INC (LUCYW) generated -$6.7M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are INNOVATIVE EYEWEAR INC's total assets?

INNOVATIVE EYEWEAR INC (LUCYW) had $9.8M in total assets as of fiscal year 2024, including both current and long-term assets.

What are INNOVATIVE EYEWEAR INC's capital expenditures?

INNOVATIVE EYEWEAR INC (LUCYW) invested $62K in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

How much does INNOVATIVE EYEWEAR INC spend on research and development?

INNOVATIVE EYEWEAR INC (LUCYW) invested $819K in research and development during fiscal year 2024.

How many shares does INNOVATIVE EYEWEAR INC have outstanding?

INNOVATIVE EYEWEAR INC (LUCYW) had 2M shares outstanding as of fiscal year 2024.

What is INNOVATIVE EYEWEAR INC's current ratio?

INNOVATIVE EYEWEAR INC (LUCYW) had a current ratio of 12.52 as of fiscal year 2024, which is generally considered healthy.

What is INNOVATIVE EYEWEAR INC's debt-to-equity ratio?

INNOVATIVE EYEWEAR INC (LUCYW) had a debt-to-equity ratio of 0.08 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is INNOVATIVE EYEWEAR INC's return on assets (ROA)?

INNOVATIVE EYEWEAR INC (LUCYW) had a return on assets of -78.9% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is INNOVATIVE EYEWEAR INC's cash runway?

Based on fiscal year 2024 data, INNOVATIVE EYEWEAR INC (LUCYW) had $2.6M in cash against an annual operating cash burn of $6.7M. This gives an estimated cash runway of approximately 5 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

What is INNOVATIVE EYEWEAR INC's Piotroski F-Score?

INNOVATIVE EYEWEAR INC (LUCYW) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are INNOVATIVE EYEWEAR INC's earnings high quality?

INNOVATIVE EYEWEAR INC (LUCYW) has an earnings quality ratio of 0.87x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is INNOVATIVE EYEWEAR INC?

INNOVATIVE EYEWEAR INC (LUCYW) scores 75 out of 100 on our Financial Profile, indicating strong overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.