Research Frontiers Incorporated (REFR) reports earnings

Research Frontiers Incorporated (REFR) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.

The filing reveals that the company operates in a single business segment focused on the development and marketing of light-control technology and devices. This includes SPD-Smart products used in various applications such as automotive, architectural, and aerospace industries.

The company reported fee income of $1,335,531 for 2024, an increase from $909,598 in 2023. This rise is attributed to higher royalties from the automotive and aircraft markets.

Operating expenses decreased to $2,207,397 in 2024 from $2,359,634 in 2023. The decrease is due to lower credit loss expense, marketing costs, patent costs, and legal fees.

Research and development expenses slightly decreased to $570,007 in 2024 from $583,266 in 2023, primarily due to lower materials costs and insurance costs.

The company recorded a net loss of $1,311,382 for 2024, which is a reduction from the net loss of $1,908,364 in 2023. This is due to increased fee income and decreased operating expenses.

Cash and cash equivalents at the end of 2024 were $1,994,186, a decrease from $2,475,958 at the end of 2023. The decrease is primarily due to cash used for operations.

The company expects revenue to increase as new automotive and other products using SPD-SmartGlass technology are introduced into the market.

Research Frontiers continues to focus on expanding its SPD-Smart technology and supporting its licensees in various industries globally.

The company has a Rights Plan in place, which was extended in 2022 and will expire in February 2033, unless further extended or redeemed.

This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Research Frontiers Incorporated annual 10-K report dated March 6, 2025. To report an error, please email [email protected].