NASDAQ · PATENT OWNERS & LESSORS · SMALL CAP
Research Frontiers Inc. REFR
17 fiscal years on record · USD · FY2025 reported · SEC filings only
In brief
What this company does
Written from the business description in Research Frontiers Incorporated's annual report to the U.S. Securities and Exchange Commission, filed 5 March 2026. Every sentence was checked against that document before publication.
Growth
USD 1.1M
Revenue, FY2025 · full 17-year series below
Revenue $M
Net income $M
FY2025 · Revenue 1.1 · Net income -2.0
Compound annual growth
Revenue compounded at +6.2% a year over five years.
Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.
Profitability
−182 cents
lost on every revenue dollar
Operating margin
Net margin
FY2025 · Operating -190.2% · Net -182.4%
ROE
FY2025 · ROE -115.6%
Each USD of equity lost 116 cents this year.
The 17-year record
17 fiscal years
Every figure from documents filed with the SEC · USD
row low → row highnegative
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue $B | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | · | · | · | · | · |
| Operating income $B | −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 |
| EBITDA $B | −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 |
| Income tax $B | · | · | · | · | · | · | · | · | · | · | · | · | · | −0.0 | 0.0 | 0.0 | · |
| Net income $B | −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 |
| Free cash flow $B | −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 |
| EPS, diluted $ | −0.06 | −0.04 | −0.06 | −0.08 | −0.06 | −0.07 | −0.13 | −0.10 | −0.10 | −0.18 | −0.18 | −0.19 | −0.26 | −0.16 | −0.22 | −0.22 | −0.25 |
| Dividend / sh $ | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · |
| Payout % | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · |
| ROE % | −115.6 | −42.8 | −45.9 | −62.2 | −40.5 | −37.8 | −75.0 | −94.8 | −64.6 | −60.6 | −40.5 | −36.9 | −46.4 | −34.7 | −71.4 | −66.6 | −96.1 |
| Shares out B | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | · |
Slide the table for earlier years · "·" marks a figure not available in our data for that year.
Provenance
Company facts, as filed
How we verify · 0 failures in 64 reconciliationsAUDITED
Reconciled in 17 of 19 fiscal years. 12 checks could not be computed.
EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityPatent Owners & Lessors
Listed onNASDAQ
Incorporated inDelaware
Fiscal year endsDecember 31
SEC categorysmaller reporting company
Data on record since2009