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Research Frontiers Inc (REFR)

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SEC name RESEARCH FRONTIERS INC · CIK 0000793524 · Nasdaq · Patent Owners & Lessors

  • Sector Finance & Real Estate
  • Incorporated DE
  • Fiscal year ends Dec 31

For the year ended 2025-12-31, Research Frontiers Inc reported revenue of $1.12M. Revenue fell 16.0% from the prior annual period. Over the twelve months to 2026-06-30, revenue was $654.2K.

Key ratios (year ended 2025-12-31)

-190.2%
Operating margin
-182.4%
Net margin
-219.1%
Return on year-end equity
-16.0%
Revenue growth (YoY)

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Latest selected filing: Form 10-Q (quarterly report) · 2026-08-06

Annual financials

Annual flows and balances are grouped by their actual period end. Select a figure to open its SEC filing. n/a means a matching observation is unavailable. Free cash flow is operating cash flow minus capital expenditures, and EBITDA is operating income plus depreciation and amortization, for the same period, computed by TickerFacts.

The first column covers the twelve months to 2026-06-30 from the latest quarterly report: flows are the last fiscal year plus this year to date minus the same months a year earlier, and balances are as of that date. Per-share figures are annual only.

Period endedTTM to
2026-06-30		2025-12-312024-12-312023-12-312022-12-312021-12-312020-12-312019-12-312018-12-312017-12-312016-12-31
Revenue$654.2K$1.12M$1.34M$909.6K$539.7K$1.26M$828.5K$1.56M$1.49M$1.51M$1.24M
R&D Expense$551.0K$608.7K$570.0K$583.3K$609.1K$580.0K$628.3K$1.04M$863.4K$799.7K$1.42M
Operating Income-$2.28M-$2.13M-$1.44M-$2.03M-$2.63M-$1.84M-$2.58M-$3.15M-$2.42M-$2.42M-$4.27M
Depreciation & Amortizationn/a$11.5K$15.0K$14.7Kn/an/a$67.1K$195.4K$181.0K$175.6K$188.5K
EBITDAn/a-$2.12M-$1.43M-$2.02Mn/an/a-$2.51M-$2.95M-$2.24M-$2.24M-$4.08M
Net Income-$2.25M-$2.05M-$1.31M-$1.91M-$2.67M-$1.85M-$2.34M-$3.81M-$2.69M-$2.41M-$4.24M
EPS (Diluted)n/a-$0.06-$0.04-$0.06-$0.08n/an/an/an/an/an/a
Total Assets$2.48M$2.25M$4.04M$3.85M$5.37M$4.55M$6.20M$8.26M$4.06M$2.88M$5.27M
Total Liabilities$1.35M$1.32M$1.44M$332.8K$569.6K$762.1K$872.3K$1.20M$959.1Kn/an/a
Shareholders' Equity$1.12M$933.6K$2.60M$3.52M$4.80M$3.78M$5.33M$7.06M$3.10M$2.57M$4.90M
Cash & Equivalents$1.09M$664.3K$1.99M$2.48M$4.23M$270.0K$4.77M$6.59M$2.97M$1.74M$1.69M
Operating Cash Flow-$1.56M-$1.33M-$788.8K-$2.30M-$2.18M-$1.80M-$2.25M-$2.08M-$2.07M-$1.47M-$4.01M
Capital Expenditures$622$726$1.6K$1.6K$1.3K$1.1K$56.5K$65.3K$11.7K$6.5K$11.7K
Free Cash Flow-$1.56M-$1.33M-$790.4K-$2.30M-$2.18M-$1.81M-$2.31M-$2.15M-$2.08M-$1.48M-$4.02M
Shares Outstanding34.87M33.65M33.65M33.51M33.15M31.65M31.58M31.25M27.67M24.04M24.04M
Weighted Average Diluted Sharesn/a33.65M33.52M33.45M32.07Mn/an/an/an/an/an/a
EPS (Basic)n/a-$0.06-$0.04-$0.06-$0.08-$0.06n/an/an/an/an/a

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