Every 10-Q that Research Frontiers Inc (REFR) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow REFR and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full REFR filings page.
Research Frontiers Incorporated reported a net loss of $1,185,533 ($0.03 per share) for the six months ended June 30, 2026, as fee income declined to $222,665 from $689,680 a year earlier. The company cites non‑recurring royalties, licensees that ceased operations, upfront fees recognized in 2025, and what it describes as a temporary non‑technical slowdown at licensee Gauzy Ltd., partly offset by higher royalties from motorcycle helmet and ski/snow goggle products.
Operating expenses fell to $1,148,598 and research and development spending to $274,234, but total expenses still exceeded revenue. Cash and cash equivalents were $1,087,956, working capital approximately $1.0 million, and shareholders’ equity $1,123,093 at June 30, 2026. Net cash used in operating activities was $951,238; cash increased after $1,375,000 of proceeds from private issuances of common stock and warrants.
The company states that recurring losses, negative operating cash flow and limited liquidity raise substantial doubt about its ability to continue as a going concern if it cannot generate sufficient cash or obtain funding, although it expects higher royalties from existing and new licensees. Nasdaq has notified the company that it no longer meets the $1.00 minimum bid price and $35 million Market Value of Listed Securities requirements; it has until November 30, 2026 to regain compliance while its 34,867,786 shares continue trading on The Nasdaq Capital Market.
Research Frontiers Incorporated reported a sharp revenue decline and wider loss for the quarter ended March 31, 2026. Fee income fell to $136,319 from $559,776 a year earlier, mainly because upfront fees from a 2025 license agreement did not repeat.
Operating expenses decreased to $521,382 and research and development spending to $145,350, but the lower revenue drove a larger net loss of $525,365 (versus $177,687). Cash and cash equivalents were $1.28 million, working capital about $1.7 million, and shareholders’ equity about $1.8 million as of March 31, 2026.
The company raised $1.375 million from sales of common stock and warrants during the quarter, including a $1.1 million private placement to accredited investors tied to a director’s family and a licensee. Management states existing resources should fund operations for at least 12 months, but recurring losses and an accumulated deficit of roughly $128.1 million mean further equity funding may be needed if royalties from automotive and architectural licensees do not grow as expected.
Research Frontiers (REFR) reported Q3 2025 results. Fee income was $359,444, up slightly year over year, while operating loss was $303,944 and net loss was $298,508 for the quarter. For the first nine months of 2025, fee income totaled $1,049,125 compared with $1,157,380 a year ago, and net loss widened to $1,280,021.
Cash and cash equivalents were $1,130,390, with working capital of about $1.4 million and shareholders’ equity of about $1.5 million as of September 30, 2025. The company continues to generate revenue primarily from automotive licensees and recognizes royalties under ASC 606.
Management disclosed that two significant European licensees and an affiliate filed for bankruptcy during the quarter; these parties represented approximately 44% of year-to-date revenue, though Ferrari-related SPD-SmartGlass production has transitioned to another existing European licensee.