Research Frontiers Reports Second Quarter 2026 Financial Results and Will Host a Conference Call at 4:30 p.m. Today
Rhea-AI Summary
Research Frontiers (Nasdaq: REFR) reported second quarter 2026 results and scheduled a conference call for August 6, 2026 at 4:30 p.m. ET to review financials, operations and developments at SPD film supplier Gauzy. Management attributed weaker near-term results primarily to Gauzy’s reduced SPD-Smart light-control film production, while stating that underlying demand and customer commitments remained intact and that resource-related issues at Gauzy appear to be nearing conclusion.
For the six months ended June 30, 2026, fee income was $222,665 versus $689,680 in 2025, operating expenses were $1,422,832 versus $1,744,361, and net loss was $1,185,533 versus $981,513. Cash rose to $1,087,956 from $664,299 at year-end, aided by $1,375,000 in proceeds from an issuance of common stock and warrants, increasing shares outstanding to 34,867,786.
Positive
- Q2 2026 net loss improved to $660,168 from $803,826 in Q2 2025
- Six‑month operating expenses decreased to $1.42M from $1.74M year over year
- Cash balance increased to $1.09M at June 30, 2026 from $0.66M at December 31, 2025
- Equity financing raised $1.375M from sale of common stock and warrants in 2026
Negative
- Six‑month fee income declined to $222,665 from $689,680 year over year
- Q2 2026 fee income fell to $86,346 from $129,904 in Q2 2025
- Six‑month net loss widened to $1,185,533 from $981,513 year over year
- Share count increased to 34,867,786 from 33,648,221, diluting existing shareholders
Key Figures
Previous Conferences,earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| May 07 | 1Q26 earnings report | Negative | -9.5% | Revenue timing and non-recurring license payment accompanied the reported quarterly results. |
| Mar 05 | FY25 earnings report | Positive | -1.0% | Automotive production, Ferrari royalties, retrofit launch, and 2025 financial results were highlighted. |
| Nov 06 | 3Q25 earnings report | Negative | -1.3% | Bankrupt European licensees challenged results despite retrofit and royalty development. |
| Aug 07 | 2Q25 earnings report | Negative | -2.5% | Production expanded, but European licensee bankruptcy charges affected reported results. |
| May 08 | 1Q25 earnings report | Positive | +33.6% | Royalty income and automotive production growth drove the quarterly update. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Tag-specific earnings and conference events were mostly followed by declines despite mixed or positive operating updates.
Key Terms
additional paid-in capital financial
accumulated deficit financial
operating lease ROU assets financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
WOODBURY, N.Y., Aug. 06, 2026 (GLOBE NEWSWIRE) -- Research Frontiers Inc. (Nasdaq: REFR) announced its financial results for its second quarter of 2026. Management will host a conference call today at 4:30 p.m. Eastern Time to discuss its financial and operating results as well as recent developments.
| • | Who: Joseph M. Harary, President & CEO | |
| • | Date/Time: Thursday, August 6, 2026, 4:30 PM ET | |
| • | Dial-in Information:1-888-334-5785 | |
| • | Conference Link: https://join.broaddata.com/?id=research-frontiers | |
| • | Replay: Available on Friday, August 7, 2026 for 90 days at https://smartglass-ir.com/ |
“The second quarter continued to reflect the temporary impact of our principal SPD-Smart light control film supplier's reduced production, rather than any change in the underlying demand for SPD-Smart technology," said Joseph M. Harary, President and CEO of Research Frontiers. "Throughout this period our customers remained committed, we added a new licensee, continued advancing new applications including black SPD technology, and maintained our strong intellectual property portfolio. While near-term financial results in the second quarter were affected by reduced SPD film production, we believe the resource-related issues at Gauzy is nearing its conclusion and we remain confident in the long-term opportunities for SPD technology.”
Management expects during today’s conference call to discuss the status of developments at Gauzy including current SPD film production, and the Company's contingency plans to support future manufacturing capacity.
For more details, please see the Company’s Quarterly Report on Form 10-Q for the fiscal quarter ending June 30, 2026.
About Research Frontiers
Research Frontiers (Nasdaq: REFR) is a publicly traded technology company and the developer of patented SPD-Smart light-control film technology that allows users to instantly, precisely and uniformly control the shading of glass or plastic products, either manually or automatically. Research Frontiers has licensed its smart glass technology to numerous companies that include well known chemical, material science and glass companies. Products using Research Frontiers’ smart glass technology are being used in tens of thousands of cars, aircraft, yachts, trains, homes, offices, museums and other buildings. For more information, please visit our website at www.SmartGlass.com, and on Facebook, Twitter, LinkedIn and YouTube.
Note: From time to time Research Frontiers may issue forward-looking statements which involve risks and uncertainties. This press release contains forward-looking statements. Actual results, especially those reliant on activities by third parties, could differ and are not guaranteed. Any forward-looking statements should be considered accordingly. “SPD-Smart” and “SPD-SmartGlass” are trademarks of Research Frontiers Inc.
CONTACT:
Joseph M. Harary
President and CEO
Research Frontiers Inc.
+1-516-364-1902
Info@SmartGlass.com
RESEARCH FRONTIERS INCORPORATED
Condensed Consolidated Balance Sheets
| June 30, 2026 | December 31, 2025 | |||||||
| (Unaudited) | (See Note 1) | |||||||
| Assets | ||||||||
| Current assets: | ||||||||
| Cash and cash equivalents | $ | 1,087,956 | $ | 664,299 | ||||
| Royalties receivable, net of reserves of | 207,955 | 408,666 | ||||||
| Prepaid expenses and other current assets | 159,730 | 70,969 | ||||||
| Total current assets | 1,455,641 | 1,143,934 | ||||||
| Fixed assets, net | 2,867 | 3,393 | ||||||
| Operating lease ROU assets | 960,989 | 1,048,352 | ||||||
| Deposits and other assets | 56,066 | 56,066 | ||||||
| Total assets | $ | 2,475,563 | $ | 2,251,745 | ||||
| Liabilities and Shareholders’ Equity | ||||||||
| Current liabilities: | ||||||||
| Current portion of operating lease liability | $ | 152,960 | $ | 146,043 | ||||
| Accounts payable | 135,206 | 132,666 | ||||||
| Deferred revenue | 69,068 | - | ||||||
| Accrued expenses | 53,651 | 19,168 | ||||||
| Total current liabilities | 410,885 | 297,877 | ||||||
| Operating lease liability, net of current portion | 941,585 | 1,020,242 | ||||||
| Total liabilities | 1,352,470 | 1,318,119 | ||||||
| Shareholders’ equity: | ||||||||
| Common stock, par value | 3,487 | 3,365 | ||||||
| Additional paid-in capital | 129,926,946 | 128,552,068 | ||||||
| Accumulated deficit | (128,807,340 | ) | (127,621,807 | ) | ||||
| Total shareholders’ equity | 1,123,093 | 933,626 | ||||||
| Total liabilities and shareholders’ equity | $ | 2,475,563 | $ | 2,251,745 | ||||
RESEARCH FRONTIERS INCORPORATED
Condensed Consolidated Statements of Operations
(Unaudited)
| Six months ended June 30, | Three months ended June 30, | |||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||
| Fee income | $ | 222,665 | $ | 689,680 | $ | 86,346 | $ | 129,904 | ||||||||
| Operating expenses | 1,148,598 | 1,412,398 | 627,216 | 775,922 | ||||||||||||
| Research and development | 274,234 | 331,963 | 128,884 | 169,086 | ||||||||||||
| Total expenses | 1,422,832 | 1,744,361 | 756,100 | 945,008 | ||||||||||||
| Operating loss | (1,200,167 | ) | (1,054,681 | ) | (669,754 | ) | (815,104 | ) | ||||||||
| Net interest income | 14,634 | 25,811 | 9,586 | 11,278 | ||||||||||||
| Other income | - | 47,357 | - | - | ||||||||||||
| Net loss | $ | (1,185,533 | ) | $ | (981,513 | ) | $ | (660,168 | ) | $ | (803,826 | ) | ||||
| Basic and diluted net loss per common share | $ | (0.03 | ) | $ | (0.03 | ) | $ | (0.02 | ) | $ | (0.02 | ) | ||||
| Weighted average number of common shares outstanding | 34,513,740 | 33,648,221 | 34,867,786 | 33,648,221 | ||||||||||||
RESEARCH FRONTIERS INCORPORATED
Condensed Consolidated Statements of Shareholders’ Equity
(Unaudited)
For the six months ended June 30, 2025 and 2026
| Common Stock | Additional Paid-in | Accumulated | ||||||||||||||||||
| Shares | Amount | Capital | Deficit | Total | ||||||||||||||||
| Balance, January 1, 2025 | 33,648,221 | $ | 3,365 | $ | 128,177,193 | $ | (125,576,223 | ) | $ | 2,604,335 | ||||||||||
| Share-based compensation | - | - | 175,204 | - | 175,204 | |||||||||||||||
| Net loss | - | - | - | (981,513 | ) | (981,513 | ) | |||||||||||||
| Balance, June 30, 2025 | 33,648,221 | $ | 3,365 | $ | 128,352,397 | $ | (126,557,736 | ) | $ | 1,798,026 | ||||||||||
| Balance, January 1, 2026 | 33,648,221 | $ | 3,365 | $ | 128,552,068 | $ | (127,621,807 | ) | $ | 933,626 | ||||||||||
| Issuance of common stock and warrants | 1,219,565 | 122 | 1,374,878 | - | 1,375,000 | |||||||||||||||
| Net loss | - | - | - | (1,185,533 | ) | (1,185,533 | ) | |||||||||||||
| Balance, June 30, 2026 | 34,867,786 | $ | 3,487 | $ | 129,926,946 | $ | (128,807,340 | ) | $ | 1,123,093 | ||||||||||
For the three months ended June 30, 2025 and 2026
| Common Stock | Additional Paid-in | Accumulated | ||||||||||||||||||
| Shares | Amount | Capital | Deficit | Total | ||||||||||||||||
| Balance, March 31, 2025 | 33,648,221 | $ | 3,365 | $ | 128,177,193 | $ | (125,753,910 | ) | $ | 2,426,648 | ||||||||||
| Share-based compensation | - | - | 175,204 | - | 175,204 | |||||||||||||||
| Net loss | - | - | - | (803,826 | ) | (803,826 | ) | |||||||||||||
| Balance, June 30, 2025 | 33,648,221 | $ | 3,365 | $ | 128,352,397 | $ | (126,557,736 | ) | $ | 1,798,026 | ||||||||||
| Balance, March 31, 2026 | 34,867,786 | $ | 3,487 | $ | 129,926,946 | $ | (128,147,172 | ) | $ | 1,783,261 | ||||||||||
| Net loss | - | - | - | (660,168 | ) | (660,168 | ) | |||||||||||||
| Balance, June 30, 2026 | 34,867,786 | $ | 3,487 | $ | 129,926,946 | $ | (128,807,340 | ) | $ | 1,123,093 | ||||||||||
RESEARCH FRONTIERS INCORPORATED
Condensed Consolidated Statements of Cash Flows
(Unaudited)
| Six months ended June 30, | ||||||||
| 2026 | 2025 | |||||||
| Cash flows from operating activities: | ||||||||
| Net loss | $ | (1,185,533 | ) | $ | (981,513 | ) | ||
| Adjustments to reconcile net loss to net cash used in operating activities: | ||||||||
| Depreciation and amortization | 631 | 6,166 | ||||||
| Share-based compensation | - | 175,204 | ||||||
| Credit loss expense | 150,000 | 124,253 | ||||||
| ROU asset amortization | 87,363 | 86,925 | ||||||
| Change in assets and liabilities: | ||||||||
| Royalty receivables | 50,711 | (2,413 | ) | |||||
| Prepaid expenses and other assets | (88,761 | ) | (67,791 | ) | ||||
| Accounts payable and accrued expenses | 37,023 | (68,297 | ) | |||||
| Deferred revenue | 69,068 | 71,563 | ||||||
| Operating lease liability | (71,740 | ) | (63,798 | ) | ||||
| Net cash used in operating activities | (951,238 | ) | (719,701 | ) | ||||
| Cash flows from investing activities: | ||||||||
| Purchases of fixed assets | (105 | ) | (209 | ) | ||||
| Net cash used in investing activities | (105 | ) | (209 | ) | ||||
| Cash flows from financing activities: | ||||||||
| Net proceeds from sale of common stock and warrants | 1,375,000 | - | ||||||
| Net cash provided by financing activities | 1,375,000 | - | ||||||
| Net increase (decrease) in cash and cash equivalents | 423,657 | (719,910 | ) | |||||
| Cash and cash equivalents at beginning of period | 664,299 | 1,994,186 | ||||||
| Cash and cash equivalents at end of period | $ | 1,087,956 | $ | 1,274,276 | ||||
