In Season 3, The Winx had to try to defeat an evil wizard called Valtor. Valtor was freed by the Trix. When Valtor escaped the Omega Dimension Faragonda put a protective shield to protect the school and the students.It was the only last survival for everyone at Alfea.
Another member of the company is revealed and is the catalyst for the movie: the sword smith Hagen. The group disbanded after Marion and Oritel were lost when the Ancestral Witches attacked Domino but it was called back into action (minus Hagen) when Valtor broke out of the Omega Dimension . It is also possible that during the destruction of Domino they also had to fight Mandragora , since members of the Company seem to know her, just as she also appears to know them, namely Faragonda and Hagen. When the movie the Secret of the Lost Kingdom concluded, it is stated that a new Company of Light had been formed: the Winx Club.
Roxy is not a member because she didn't appear at the Book of Fate that Lord Bartelby says. However, the likelihood of her being a part of the company is rather low, especially because she knows nothing about the events that happened on Domino, though it was stated by Faragonda that Oritel's reason for founding the Company of Light was to protect the whole Magic Dimension against evil and by helping the Winx to save Earth from the Wizards of the Black Circle and restore magic there, Roxy also helped to save part of the Magic Dimension (the magical part of Earth where the fairies live was said by Faragonda and Morgana to be effectively a part of the Magic Dimension) and possibly could have earned her place within the second Company Of Light.
It is mentioned by Sky that prior to the attack of the Ancestral Witches that his father, Erendor, then King of Eraklyon, was allied to the Company of Light, before betraying them when the Ancestresses threatened him of destroying his kingdom if he helped Oritel. The Ancestresses then gave him a magical object which would protect Eraklyon from evil to conclude their deal, and Erendor did not do anything to help defend Domino, later causing him a lot of grief.
- The Company of Light shares some similarities with the Order of the Phoenix of the Harry Potter Series in that it was founded to fight against dark forces (Voldemort in Harry Potter; Darkar, the Ancestresses and Valtor in Winx Club), was dissolved when the enemies were first defeated and became formed again when the dark forces came back after many years.