Research Frontiers Incorporated

Research Frontiers Incorporated

REFRยทNASDAQ

$1.54

+3.4%
TechnologyHardware, Equipment & Parts

Research Frontiers Incorporated develops and markets technology and devices to control the flow of light worldwide. The company develops and licenses suspended particle device (SPD-Smart) light-control technology to companies that manufacture and market the SPD-Smart chemical emulsion, light-control film made from the chemical emulsion, the light-control panels made by laminating the film, and electronics to power end-products incorporating the film, as well as lamination services for and the end-products, such as windows, skylights, and sunroofs. Its SPD-Smart light-control technology is used in various product applications, including windows, sunshades, skylights, and interior partitions for homes and buildings; automotive windows, sunroofs, sun-visors, sunshades, rear-view mirrors, instrument panels, and navigation systems; aircraft windows; museum display panels, and eyewear products; and flat panel displays for electronic products. The company serves architectural, automotive, marine, and aerospace and appliance applications. Research Frontiers Incorporated was incorporated in 1965 and is headquartered in Woodbury, New York.

At a Glance

Live Snapshot
Market Cap$51.82M
EPS-0.0391
P/E Ratio-39.39
Earnings Date05/06/2026
3Y+6.0%
5Y-15.0%
10Y-33.0%
3Y-29.0%
5Y-66.0%
10Y-69.0%
3Y-56.0%
5Y-62.0%
10Y-78.0%
Research Frontiers Incorporated

Research Frontiers Incorporated Profit Bridge

REFR ยท NASDAQ
Revenue1.34M
Cost of Goods Sold (263.56K)
Gross Profit1.07M
Operating Expenses (2.51M)
Operating Income-1.44M
Interest Expense (0.00)
Other Income/Expense130.49K
Pretax Income-1.31M
Income Tax (0.00)
Net Income-1.31M
Net Income
-1.31M

Profitability Analysis

Gross Margin

80.3%

Exceptional pricing power and cost management. The company retains over half of revenue after direct costs.

Operating Margin

-108.0%

Operating losses indicate the core business is unprofitable. Requires restructuring or revenue growth.

Net Profit Margin

-98.2%

Net losses indicate the company is burning cash. Sustainability depends on path to profitability.

Profitability Insight

Margin squeeze alert: Healthy gross margins but weak operating margins suggest excessive operating expenses. Cost optimization could unlock significant value.

Research Frontiers Incorporated Income Statement

REFR โ€ข NASDAQ

Research Frontiers Incorporated Income StatementDec 2024Dec 2023Dec 2022Dec 2021Dec 2020Dec 2019Dec 2018Dec 2017Dec 2016Dec 2015Dec 2014Dec 2013Dec 2012Dec 2011Dec 2010Dec 2009Dec 2008Dec 2007Dec 2006Dec 2005
REVENUE
1.3M
909.6K
539.7K
1.3M
828.5K
1.6M
1.5M
1.5M
1.2M
2M
1.6M
2.2M
2M
846K
767.5K
709.8K
1.7M
402.4K
162.6K
138.7K
GROSS PROFIT
(263.6K)
(2.4M)
(0.0)
(0.0)
(2.8M)
(3.2M)
(2.4M)
(3.1M)
(4.1M)
(4.7M)
(4.4M)
(5.8M)
(4M)
(3.6M)
(3.3M)
(3.2M)
(3M)
(5.8M)
(2.4M)
(2.6M)
1.1M
-1.5M
539.7K
1.3M
-1.9M
-1.6M
-929.6K
-1.6M
-2.9M
-2.7M
-2.8M
-3.7M
-2M
-2.8M
-2.5M
-2.5M
-1.3M
-5.4M
-2.2M
-2.5M
OPERATING INCOME
(2.5M)
(583.3K)
(3.2M)
(3.1M)
(628.3K)
(4.7M)
(3.9M)
(3.9M)
(5.5M)
(6.3M)
(6M)
(8M)
(5.7M)
(1.4M)
(1.4M)
(1.5M)
(1.5M)
(2.5M)
(1.2M)
(1.4M)
(400.1K)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(570K)
(583.3K)
(609.1K)
(580K)
(628.3K)
(1M)
(863.4K)
(799.7K)
(1.4M)
(1.6M)
(1.6M)
(2.2M)
(1.7M)
(1.4M)
(1.4M)
(1.5M)
(1.5M)
(2.5M)
(1.2M)
(1.4M)
-1.4M
-2M
-2.6M
-1.8M
-2.6M
-3.2M
-2.4M
-2.4M
-4.3M
-4.3M
-4.4M
-5.9M
-3.7M
-4.2M
-3.9M
-4M
-2.7M
-7.9M
-3.4M
-3.9M
PRE-TAX INCOME
95.3K
124.9K
0.0
0.0
34.5K
0.0
0.0
0.0
0.0
0.0
0.0
0.0
33.2K
0.0
0.0
0.0
0.0
0.0
0.0
0.0
(1.5M)
(0.0)
(2.6M)
(2.5M)
(0.0)
(3.7M)
(3M)
(3.1M)
(4.1M)
(4.7M)
(4.4M)
(5.8M)
(4M)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
130.5K
124.9K
-44.2K
-7.5K
236.5K
-659.6K
-267.9K
4.8K
29.5K
43.3K
35.2K
233.7K
139.1K
29.3K
15.5K
20.6K
154.6K
336K
88.1K
129.8K
-1.3M
-1.9M
-2.7M
-1.8M
-2.3M
-3.8M
-2.7M
-2.4M
-4.2M
-4.3M
-4.4M
-5.8M
-3.7M
-3.9M
-4M
-4M
-2.6M
-7.6M
-3.3M
-3.7M
NET INCOME
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(659.6K)
(0.0)
-4.8K
-29.5K
(0.0)
-35.2K
-38.1K
-613.4K
-29.3K
-15.5K
-20.6K
(0.0)
(0.0)
(0.0)
(0.0)
-1.3M
-1.9M
-2.7M
-1.8M
-2.3M
-3.8M
-2.7M
-2.4M
-4.2M
-4.3M
-4.4M
-5.8M
-3.1M
-4.1M
-3.9M
-4M
-2.6M
-7.6M
-3.3M
-3.7M

SEC Filings

REFR - Filing history and reports

Filing TypeFiling DatePeriod EndingFiscal YearActions
10-Q

10-Q 2025 Q3

Q3

November 06, 2025
September 30, 2025
2025
8-K

8-K 2025

N/A

September 15, 2025
September 15, 2025
2025
10-Q

10-Q 2025 Q2

Q2

August 07, 2025
June 30, 2025
2025
8-K

8-K 2025

N/A

June 13, 2025
June 12, 2025
2025
10-Q

10-Q 2025 Q1

Q1

May 08, 2025
March 31, 2025
2025
DEF 14A

DEF 14A 2025

N/A

April 30, 2025
April 30, 2025
2025
10-K/A

10-K/A 2023 FY (Amended)

FY

April 16, 2025
December 31, 2023
2023
10-K

10-K 2024 FY

FY

March 06, 2025
December 31, 2024
2024
10-Q

10-Q 2024 Q3

Q3

November 07, 2024
September 30, 2024
2024
10-Q

10-Q 2024 Q2

Q2

August 01, 2024
June 30, 2024
2024
Showing 1 to 10 of 396 filings