REFR
Research Frontiers Incorporated
NASDAQ: REFR · TECHNOLOGY · ELECTRONIC COMPONENTS
$0.94
+0.31% today
Updated 2026-04-29
Market cap
$33.01M
P/E ratio
—
P/S ratio
29.44x
EPS (TTM)
$-0.06
Dividend yield
—
52W range
$1 – $3
Volume
0.0M
Research Frontiers Incorporated (REFR) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $162639.00 | $402359.00 | $1.68M | $709811.00 | $767522.00 | $845982.00 | $1.96M | $2.16M | $1.60M | $2.01M | $1.24M | $1.51M | $1.49M | $1.56M | $828450.00 | $1.26M | $539686.00 | $909598.00 | $1.34M | $1.12M |
| Revenue growth (YoY) | — | +147.4% | +317.5% | -57.7% | +8.1% | +10.2% | +131.4% | +10.4% | -26.0% | +25.6% | -38.4% | +22.1% | -1.4% | +5.1% | -47.0% | +52.5% | -57.3% | +68.5% | +46.8% | -16.0% |
| Cost of revenue | $2.38M | $5.77M | $2.96M | $3.18M | $3.25M | $3.62M | $4.00M | $5.84M | $4.43M | $4.74M | $4.09M | $3.13M | $2.42M | $3.68M | $2.78M | $2.52M | $175152.00 | $2.36M | $263563.00 | $186674.00 |
| Gross profit | $-2.22M | $-5.37M | $-1.28M | $-2.47M | $-2.49M | $-2.77M | $-2.04M | $-3.68M | $-2.83M | $-2.73M | $-2.85M | $-1.62M | $-929577.00 | $-2.11M | $-1.95M | $1.26M | $539686.00 | $-1.45M | $1.07M | $934574.00 |
| Gross margin | -1365.7% | -1335.0% | -76.2% | -348.5% | -323.9% | -327.7% | -104.1% | -170.3% | -176.8% | -136.2% | -230.6% | -107.3% | -62.4% | -135.1% | -235.3% | 100.0% | 100.0% | -159.4% | 80.3% | 83.4% |
| R&D | $1.17M | $2.53M | $1.47M | $1.55M | $1.40M | $1.39M | $1.67M | $2.20M | $1.62M | $1.59M | $1.42M | $799702.00 | $863401.00 | $1.04M | $628304.00 | $580000.00 | $609127.00 | $583266.00 | $570007.00 | $30358.00 |
| SG&A | — | — | — | — | — | $3.62M | $4.00M | $5.84M | $4.43M | $4.74M | $4.09M | $3.13M | $3.04M | $3.68M | $2.78M | — | $2.56M | — | $232439.00 | $269789.00 |
| Operating income | $-3.39M | $-7.90M | $-2.75M | $-4.02M | $-3.89M | $-4.16M | $-3.71M | $-5.88M | $-4.45M | $-4.32M | $-4.27M | $-2.42M | $-2.42M | $-3.15M | $-2.58M | $-1.84M | $-2.63M | $-2.03M | $-1.44M | $-2.13M |
| Operating margin | -2085.4% | -1963.7% | -163.7% | -566.8% | -506.9% | -492.1% | -189.6% | -272.2% | -278.3% | -215.4% | -345.3% | -160.3% | -162.4% | -201.4% | -311.1% | -145.6% | -486.4% | -223.5% | -108.0% | -190.2% |
| EBITDA | $-3.35M | $-7.86M | $-2.71M | $-3.98M | $-3.83M | $-4.09M | $-3.78M | $-6.03M | $-4.42M | $-4.18M | $-4.08M | $-2.24M | $-2.24M | $-3.61M | $-2.51M | $-1.66M | $-2.45M | $-1.86M | $-1.18M | $-1.95M |
| EBITDA margin | -2062.3% | -1954.4% | -161.1% | -561.2% | -499.1% | -484.0% | -193.2% | -279.2% | -276.3% | -208.4% | -330.0% | -148.6% | -150.3% | -231.0% | -303.0% | -131.6% | -454.0% | -204.6% | -88.2% | -173.5% |
| EBIT | $-3.39M | $-7.90M | $-2.75M | $-4.02M | $-3.87M | $-4.13M | $-3.82M | $-6.08M | $-4.45M | $-4.32M | $-4.27M | $-2.42M | $-2.42M | $-3.81M | $-2.58M | $-1.84M | $-2.63M | $-2.03M | $-1.44M | $-2.13M |
| Interest expense | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $33171.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $7537.00 | $44219.00 | — | — | — |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Effective tax rate | 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% | 0.0% |
| Net income | $-3.30M | $-7.57M | $-2.59M | $-4.00M | $-3.87M | $-4.13M | $-3.06M | $-5.85M | $-4.41M | $-4.28M | $-4.24M | $-2.41M | $-2.69M | $-3.81M | $-2.34M | $-1.85M | $-2.67M | $-1.91M | $-1.31M | $-2.05M |
| Net income growth (YoY) | — | -129.0% | +65.7% | -54.3% | +3.2% | -6.7% | +25.9% | -90.8% | +24.5% | +3.0% | +1.0% | +43.0% | -11.3% | -41.8% | +38.5% | +21.1% | -44.6% | +28.5% | +31.3% | -56.0% |
| Profit margin | -2031.3% | -1880.2% | -154.5% | -563.9% | -504.9% | -488.7% | -156.5% | -270.4% | -276.1% | -213.2% | -342.9% | -160.0% | -180.4% | -243.5% | -282.6% | -146.2% | -494.6% | -209.8% | -98.2% | -182.4% |