Research Frontiers Incorporated REFR
- Market cap
- $26.2M
- P/E
- 0.0×
Follow REFR
Target Price Range
Analyst price targets
Free account| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1.65 | 0.86 | 0.60 | 1.48 | 1.66 | 1.65 | 1.34 | 0.90 | 0.93 | 0.93 |
Analyst estimates 2026–2028 Powerpack |
Low Price
|
||
| 5.20 | 2.15 | 1.95 | 5.38 | 5.70 | 5.66 | 2.85 | 2.30 | 2.41 | 2.70 |
High Price
|
|||
| 11 | 7 | 9 | 8 | 6 | 6 | 6 | 6 | 6 | 5 |
Employees
|
|||
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Revenue/Emp
|
|||
| 1 | 2 | 1 | 2 | 1 | 1 | 1 | 1 | 1 | 1 |
Revenue
|
|||
| (230.59%) | (107.28%) | (104.45%) | (135.15%) | (235.26%) | (99.67%) | (373.54%) | (159.41%) | (65.29%) | (135.87%) |
Gross Margin
|
|||
| (4) | (2) | (3) | (4) | (2) | (2) | (3) | (2) | (1) | (2) |
EBT
|
|||
| (342.88%) | (159.96%) | (180.44%) | (243.54%) | (282.55%) | (146.19%) | (494.59%) | (209.81%) | (98.20%) | (182.45%) |
EBT Margin
|
|||
| (4) | (2) | (3) | (4) | (2) | (2) | (3) | (2) | (1) | (2) |
Net Income
|
|||
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Depreciation
|
|||
| 0.05 | 0.06 | 0.06 | 0.05 | 0.03 | 0.04 | 0.02 | 0.03 | 0.04 | 0.03 |
Revenue/Sh
|
|||
| (0.18) | (0.10) | (0.10) | (0.13) | (0.07) | (0.06) | (0.08) | (0.06) | (0.04) | (0.06) |
Earnings/Sh
|
|||
| (0.17) | (0.06) | (0.08) | (0.07) | (0.07) | (0.06) | (0.07) | (0.07) | (0.02) | (0.04) |
Cash Flow/Sh
|
|||
| 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Capex/Sh
|
|||
| (0.17) | (0.06) | (0.08) | (0.07) | (0.07) | (0.06) | (0.07) | (0.07) | (0.02) | (0.04) |
Free CF/Sh
|
|||
| 0.20 | 0.11 | 0.12 | 0.24 | 0.17 | 0.12 | 0.15 | 0.11 | 0.08 | 0.03 |
Book Value/Sh
|
|||
| 24 | 24 | 26 | 30 | 31 | 32 | 32 | 33 | 34 | 34 |
Shares
|
|||
| 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
PE Ratio
|
|||
| 34.62 | 16.57 | 27.20 | 57.76 | 106.81 | 43.10 | 122.43 | 37.15 | 42.92 | 39.31 |
PS Ratio
|
|||
| 8.73 | 9.74 | 13.06 | 12.80 | 16.61 | 14.39 | 13.77 | 9.61 | 22.01 | 47.21 |
PB Ratio
|
|||
| 32.02 | 15.42 | 25.20 | 53.54 | 101.05 | 40.70 | 114.59 | 34.43 | 41.42 | 38.72 |
EV/Sales
|
|||
| (9.87) | (15.75) | (18.02) | (38.99) | (36.31) | (28.47) | (28.31) | (13.63) | (70.00) | (32.64) |
EV/FCF
|
|||
| (4) | (1) | (2) | (2) | (2) | (2) | (2) | (2) | (1) | (1) |
Op' Cash Flow
|
|||
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Capex
|
|||
| (4) | (1) | (2) | (2) | (2) | (2) | (2) | (2) | (1) | (1) |
FCF
|
|||
| 4 | 2 | 3 | 7 | 5 | 4 | 5 | 3 | 2 | 1 |
Working Cap'
|
|||
| — | — | — | 1 | 1 | 1 | 0 | — | — | — |
Total Debt
|
|||
| (3) | (2) | (3) | (7) | (5) | (3) | (4) | (2) | (2) | (1) |
Net Debt
|
|||
| 5 | 3 | 3 | 7 | 5 | 4 | 5 | 4 | 3 | 1 |
Sh' Equity
|
|||
| (57.21%) | (59.20%) | (77.41%) | (61.86%) | (32.39%) | (34.37%) | (53.86%) | (41.41%) | (33.24%) | (65.03%) |
ROA
|
|||
| (157.84%) | (182.21%) | (1,161.70%) | (424.11%) | (290.61%) | (151.46%) | (289.87%) | (121.99%) | (147.71%) | (494.85%) |
ROIC
|
|||
| (60.63%) | (64.61%) | (94.80%) | (75.01%) | (37.81%) | (40.53%) | (62.22%) | (45.90%) | (42.84%) | (115.64%) |
ROE
|
|||
Research Frontiers Incorporated peers in Electronic Components
| Company | Market cap | P/E | Compare |
|---|---|---|---|
| DAIO Data I/O Corporation | $29.9M | 0.0× | Compare |
| HOLO MicroCloud Hologram Inc. | $38.4M | 0.0× | Compare |
| NEON Neonode Inc. | $14.8M | 1.8× | Compare |
| SELXF Semilux International Ltd. | $14.7M | 0.0× | Compare |
| Company | Market cap | P/E | Compare |
|---|---|---|---|
| WETH Wetouch Technology Inc. | $13.9M | 1.5× | Compare |
| DSWL Deswell Industries, Inc. | $49.8M | 5.3× | Compare |
| ELTK Eltek Ltd. | $54.6M | 0.0× | Compare |
| MSAI MultiSensor AI Holdings, Inc. | $10.7M | 0.0× | Compare |
Research Frontiers Incorporated (REFR) key facts
- Research Frontiers Incorporated (REFR) is an Electronic Components company in the Technology sector, listed on Nasdaq.
- Research Frontiers Incorporated’s revenue for fiscal 2025 (year ended December 2025) was $1.1 million, down 16.0% from fiscal 2024.
- Research Frontiers Incorporated reported a net loss of $2.0 million, or a loss of $0.06 per share, for fiscal 2025.
- As of September 25, 2026, REFR traded at $0.79, a market capitalization of $26.2 million.
- Trailing earnings are negative, so a P/E ratio is not meaningful; the stock trades at 42.1× sales.
- Return on equity was −115.6% and debt-to-equity 0.00.
Research Frontiers Incorporated (REFR) Latest News
18 Sep
Research Frontiers endorses Gauzy's court-approved restructuring, which restarts SPD-Smart Light Control Film production. Gauzy restructuring approval restarts REFR's core SPD-Smart film production and commercialization.
30 Jun
KLIM and Research Frontiers Incorporated enter into a licensing agreement. Licensing deal expands REFR technology deployment and future revenue streams.
8 May
Research Frontiers Incorporated (REFR) released its Q1 2026 earnings call transcript, covering quarterly financial results, operational updates, and management outlook. Q1 earnings transcripts disclose financial metrics, guidance, and strategic insights that significantly influence stock trajectory and investor sentiment.
Research Frontiers Incorporated released Q1 2026 earnings call summary highlighting financial results, operational updates, and future outlook. Quarterly earnings summaries disclose financial performance and guidance, significantly influencing stock trajectory and investor sentiment.
Research Frontiers Incorporated (Nasdaq: REFR) reported a 79% increase in royalty income for Q1 2025, totaling $559,776, driven by growth in the automotive and aircraft markets. The company reduced its net loss to $177,687, a 60% improvement from Q1 2024. Key contributors to revenue growth include increased royalties from Ferrari and Cadillac, which expanded production of vehicles using SPD-SmartGlass technology. The company maintains a debt-free status and expects continued revenue growth across various market segments. A conference call will be held to discuss these results further. Significant revenue growth and strategic partnerships indicate a strong potential for future performance and market positioning.
7 May
Research Frontiers Incorporated reported first quarter 2026 financial results and will host a conference call at 4:30 p.m. today. Quarterly earnings reports typically influence financial performance and investor sentiment to a moderate degree.
6 Mar
Research Frontiers Incorporated (REFR) released Q4 2025 earnings call summary detailing financial results, operational updates, and future outlook. Q4 earnings summaries disclose key financial metrics and strategic guidance that significantly influence stock trajectory and investor sentiment.
Research Frontiers Inc (REFR) Q4 2025 earnings call highlights navigating challenges amid ongoing operations. Q4 earnings call highlights on challenges moderately affect financial performance and investor sentiment.
5 Mar
Research Frontiers Incorporated (REFR) reported fourth quarter and year-end 2025 financial results and scheduled a conference call for 4:30 p.m. today. Q4 and year-end earnings reports significantly influence stock performance and investor sentiment through revealed financial health.
3 Feb
Research Frontiers Incorporated (REFR) is positioned well to achieve its growth plans, driven by advancements in its technology and increasing market demand for smart glass solutions. The company is focusing on expanding its partnerships and enhancing product offerings, which are expected to contribute positively to its financial performance. With a strong pipeline and strategic initiatives in place, REFR aims to capitalize on emerging opportunities in various sectors, including automotive and architectural markets. Strategic initiatives and market demand for smart glass solutions are likely to significantly impact future performance.
24 Nov
Research Frontiers Incorporated (REFR) highlighted the growing momentum in the SPD-SmartGlass industry following the Chairman's keynote address at the Detroit Automotive Glazing Summit. The address emphasized the increasing adoption of smart glass technology in automotive applications, showcasing its benefits in energy efficiency and design flexibility. This event underscored the potential for SPD-SmartGlass to transform vehicle glazing, aligning with industry trends towards innovation and sustainability. The keynote address at a significant industry summit indicates a strategic shift and heightened interest in SPD-SmartGlass technology, likely influencing market dynamics and investor sentiment.
14 Nov
Research Frontiers Incorporated (REFR) is highlighted among penny stocks with promising financials, indicating potential growth opportunities. The company focuses on smart glass technology, which is gaining traction in various industries. Investors are encouraged to consider REFR as part of a diversified portfolio, especially given its innovative approach and market potential. The company's focus on smart glass technology may moderately influence its financial performance and competitive positioning.
13 Nov
Research Frontiers CEO Joe Harary will deliver a keynote address titled 'Real World Uses of SPD-SmartGlass and Other Variable Tint Technologies' at the 2025 North American Vehicle Glazing Innovation Summit in Detroit, highlighting the applications of SPD-SmartGlass technology in the automotive sector. The keynote address at a significant industry summit is likely to enhance visibility and interest in SPD-SmartGlass technology, potentially impacting market dynamics and investor sentiment.
11 Nov
Research Frontiers Incorporated (REFR) reported strong financial results for Q3 2025, highlighting a robust cash position and positive developments in product innovation. The company continues to focus on expanding its market presence and enhancing its technology offerings, which are expected to drive future growth. Management expressed optimism about upcoming projects and partnerships that could further strengthen the company's competitive edge. Strong financial results and positive product developments indicate significant potential for future growth and market performance.
6 Nov
Research Frontiers Incorporated (REFR) announced its financial results for the third quarter of 2025, highlighting key metrics and performance indicators. The company will host a conference call at 4:30 p.m. today to discuss these results in detail and provide insights into future strategies and market outlook. The financial results and subsequent conference call may moderately influence investor sentiment and operational strategies.
5 Nov
Research Frontiers Incorporated CEO Joe Harary will serve as the Chairman and keynote presenter at the North American Vehicle Glazing Innovation Summit 2025 in Detroit. The summit aims to address advancements in vehicle glazing technologies, showcasing innovations that could impact the automotive industry. Harary's leadership role at a significant industry summit indicates potential strategic influence on vehicle glazing innovations, which could enhance the company's market position.
27 Oct
Research Frontiers Incorporated (REFR) and AIT Group have introduced a retrofittable SPD-SmartGlass system at GlassBuild, designed to provide instant light control, enhance comfort, and improve energy efficiency in existing buildings. This innovative solution aims to modernize older structures by integrating advanced smart glass technology, allowing for better management of natural light and energy consumption. The introduction of a retrofittable SPD-SmartGlass system represents a significant strategic move that could enhance market positioning and investor sentiment.
10 Oct
Research Frontiers Incorporated (REFR) is highlighted as a promising penny stock, alongside two other companies. The article discusses the potential of REFR's technology in the smart glass market, which is gaining traction due to increasing demand for energy-efficient solutions. Investors are encouraged to monitor REFR's developments as it positions itself within this growing sector. The company's advancements in smart glass technology could significantly influence its market position and investor sentiment.
15 Sep
Research Frontiers Incorporated announced the retirement of Michael R. LaPointe, who played a key role in expanding the SPD-Smart aerospace programs. His leadership contributed significantly to the company's advancements in smart glass technology for aerospace applications. The company is now poised to continue its growth trajectory in this sector following his departure. LaPointe's retirement may affect ongoing aerospace initiatives but is not expected to drastically alter the company's overall direction.
8 Aug
Research Frontiers Incorporated (REFR) reported strong sales growth in Q2 2025, driven by increased demand for its innovative products. The company highlighted significant advancements in technology and strategic partnerships that are expected to enhance market presence. Financial results showed a notable rise in revenue compared to the previous quarter, reflecting effective operational strategies and a positive market response. Management expressed optimism about future growth prospects and ongoing projects aimed at expanding their product offerings. Strong sales growth and advancements in technology indicate significant potential for future performance and market positioning.
Research Frontiers Incorporated reported its Q2 earnings, highlighting a notable increase in revenue driven by strong demand for its SPD-SmartGlass technology. The company continues to expand its market presence, with several new partnerships and projects in the pipeline. Despite challenges in the broader economic environment, the outlook remains positive as the company focuses on innovation and customer engagement. Overall, the financial results reflect a solid performance and a commitment to growth. The increase in revenue and new partnerships indicate significant strategic moves that could alter the company's trajectory.
7 Aug
Research Frontiers Incorporated (REFR) reported its financial results for the second quarter of 2025, highlighting key metrics and performance indicators. The company will host a conference call at 4:30 p.m. today to discuss these results in detail and provide insights into future strategies and market outlook. The financial results and upcoming conference call may influence investor sentiment and provide insights into the company's operational performance.
14 Jul
Gauzy, in collaboration with Research Frontiers, has announced that its SPD smart glass is now in serial production for General Motors' Cadillac CELESTIQ. The smart glass technology is being delivered to customers, marking a significant milestone in the partnership between the two companies. The launch of SPD smart glass for a high-profile vehicle like the Cadillac CELESTIQ is likely to significantly enhance Research Frontiers' market position and investor sentiment.
26 Jun
Research Frontiers (NASDAQ: REFR) has a cash runway of approximately 16 months, with cash reserves of $1.4 million and a cash burn of $1 million over the last year. Although the company generated only $1.6 million in revenue, it has successfully reduced its cash burn by 50%. With a market capitalization of $61 million, the company could raise funds through debt or equity issuance to support growth. Overall, the cash burn situation is viewed positively, but investors should remain aware of potential risks. The reduction in cash burn and ability to raise funds could moderately influence Research Frontiers' financial performance and market sentiment.
16 May
Research Frontiers Incorporated (REFR) is highlighted as a promising penny stock for May 2025, with potential growth driven by advancements in smart glass technology and increasing demand in various sectors. The company's innovative products, which offer energy efficiency and enhanced user experience, position it favorably in the market. Analysts suggest that REFR's strategic partnerships and ongoing research could lead to significant market opportunities, making it a stock to watch for investors seeking high-risk, high-reward options. The company's advancements in smart glass technology and strategic partnerships are likely to significantly impact its market position and investor sentiment.
10 May
Research Frontiers Incorporated (NASDAQ: REFR) reported a first quarter 2025 revenue of US$559.8k, a 79% increase from the same period in 2024. The net loss narrowed to US$177.7k, resulting in a loss per share of US$0.005, an improvement from US$0.013 in 1Q 2024. Shares have risen 41% over the past week, although there are three warning signs noted in the investment analysis. The significant revenue growth and reduced losses indicate a moderately noticeable influence on financial performance.
9 May
Research Frontiers Inc (NASDAQ:REFR) reported a 79% increase in royalty revenues for Q1 2025, driven by demand in the automotive and aircraft sectors, and a 214% sequential increase from Q4 2024. The company remains debt-free with a strong cash position, but reported a net loss of $177,687. Significant momentum is noted in the automotive sector with new models using SPD technology, while growth potential exists in the architectural market with a new retrofit application. However, competition and uncertainty regarding the commercialization of 'dark particle' technology pose challenges. Strong revenue growth and new product launches indicate significant potential impact on future performance.
23 Apr
Research Frontiers Incorporated announced that its SPD-SmartGlass technology is featured in the new Mercedes-Benz Vision V show car, unveiled at Auto Shanghai 2025. Approximately 75% of the vehicle's glazing area uses SPD film licensed from Research Frontiers and manufactured by Gauzy Ltd. This development underscores the growing adoption of SPD-SmartGlass in the automotive industry, enhancing comfort, energy efficiency, and personalization. The Vision V showcases a dual smart glass stack combining SPD and PDLC technologies, allowing seamless transitions between transparent and shaded states. Research Frontiers continues to support the expansion of SPD-SmartGlass technology across various sectors, including automotive, aviation, and architecture. The introduction of SPD-SmartGlass in a high-profile vehicle like the Mercedes-Benz Vision V is likely to significantly enhance Research Frontiers' market position and investor sentiment.
Gauzy's advanced smart glass technologies have been integrated into the Mercedes-Benz Vision V show car, showcased at Auto Shanghai 2025. This collaboration highlights the innovative use of dynamic glass solutions in automotive design, enhancing aesthetics and functionality. The Vision V aims to set new standards in luxury and technology within the automotive industry. The collaboration with a major automotive brand like Mercedes-Benz is likely to significantly enhance Research Frontiers' market presence and investor sentiment.
8 Mar
Research Frontiers Incorporated reported a loss of US$0.039 per share for the full year 2024, an improvement from a loss of US$0.057 per share in FY 2023. The company continues to focus on its development and commercialization of smart glass technologies, which are expected to drive future growth. The reduction in loss per share indicates some improvement in financial performance, but the overall impact on future growth remains limited.