Research Frontiers Reports 2024 Financial Results and Will Host a Conference Call at 4:30p.m. Today
Research Frontiers (Nasdaq: REFR) announced its fourth quarter and full-year 2024 financial results on March 06, 2025. The company will host a conference call at 4:30 p.m. Eastern Time to discuss financial and operating results, along with recent developments. Detailed information is available in the Company's Annual Report on Form 10-K filed with the SEC.
Research Frontiers (Nasdaq: REFR) ha annunciato i risultati finanziari del quarto trimestre e dell'intero anno 2024 il 6 marzo 2025. L'azienda terrà una conferenza telefonica alle 16:30 ora orientale per discutere i risultati finanziari e operativi, insieme agli sviluppi recenti. Informazioni dettagliate sono disponibili nel Rapporto Annuale dell'azienda, presentato con il modulo 10-K presso la SEC.
Research Frontiers (Nasdaq: REFR) anunció sus resultados financieros del cuarto trimestre y del año completo 2024 el 6 de marzo de 2025. La empresa llevará a cabo una conferencia telefónica a las 4:30 p.m. hora del Este para discutir los resultados financieros y operativos, junto con los desarrollos recientes. La información detallada está disponible en el Informe Anual de la Compañía en el Formulario 10-K presentado ante la SEC.
Research Frontiers (Nasdaq: REFR)는 2025년 3월 6일에 2024년 4분기 및 연간 재무 결과를 발표했습니다. 회사는 동부 표준시 기준 오후 4시 30분에 재무 및 운영 결과와 최근 개발 사항에 대해 논의하기 위해 컨퍼런스 콜을 개최할 예정입니다. 자세한 정보는 SEC에 제출된 10-K 양식의 회사 연례 보고서에서 확인할 수 있습니다.
Research Frontiers (Nasdaq: REFR) a annoncé ses résultats financiers pour le quatrième trimestre et l'année complète 2024 le 6 mars 2025. L'entreprise organisera une conférence téléphonique à 16h30, heure de l'Est, pour discuter des résultats financiers et opérationnels, ainsi que des développements récents. Des informations détaillées sont disponibles dans le Rapport Annuel de l'entreprise sur le formulaire 10-K déposé auprès de la SEC.
Research Frontiers (Nasdaq: REFR) gab am 6. März 2025 die finanziellen Ergebnisse des vierten Quartals und des gesamten Jahres 2024 bekannt. Das Unternehmen wird um 16:30 Uhr Eastern Time eine Telefonkonferenz abhalten, um die finanziellen und betrieblichen Ergebnisse sowie aktuelle Entwicklungen zu besprechen. Detaillierte Informationen sind im Jahresbericht des Unternehmens im Formular 10-K, das bei der SEC eingereicht wurde, verfügbar.
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WOODBURY, N.Y., March 06, 2025 (GLOBE NEWSWIRE) -- Research Frontiers Inc. (Nasdaq: REFR) announced its financial results for its fourth quarter and full-year 2024. 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, March 6, 2025, 4:30 PM ET | |
| • | Dial-in Information:1-888-334-5785 | |
| • | Replay: Available on Friday, March 7, 2025 for 90 days at https://smartglass-ir.com/ | |
Key Comments:
| 1. | Revenue Growth in the Automotive and Aircraft Markets Research Frontiers royalty income increased by |
| 2. | Expansion of Product Pipeline. 2024 marked the growth in use of SPD-SmartGlass in the Ferrari Purosangue and multiple McLaren car models, as well as the introduction towards the end of 2024 of the Cadillac Celestiq. Commercial airlines have begun to put SPD in their cabin windows, most notably in both Boeing and Airbus aircraft, as decision making has moved from the OEMs to their airline customers. The Company expects revenue in all market segments to increase as new car models, aircraft, trains, architectural, information display and other products using the Company’s SPD-SmartGlass technology are introduced into the market. The Company anticipates multiple new car models featuring SPD-SmartGlass technology in 2025 from OEMs in various regions of the world. |
| 3. | Operational Efficiencies and Financial Stability. Expenses decreased by over |
For more details, please see the Company’s Annual Report on Form 10-K which was filed today with the SEC, the contents of which are incorporated by reference herein.
About Research Frontiers
Research Frontiers (Nasdaq: REFR) is a publicly traded technology company and the developer of patented SPD-Smart light-control film technology which 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
Consolidated Balance Sheets
December 31, 2024 and 2023
| December 31, 2024 | December 31, 2023 | |||||||
| Assets | ||||||||
| Current assets: | ||||||||
| Cash and cash equivalents | $ | 1,994,186 | $ | 2,475,958 | ||||
| Royalties receivable, net of reserves of | 658,213 | 1,003,404 | ||||||
| Prepaid expenses and other current assets | 93,490 | 96,784 | ||||||
| Total current assets | 2,745,889 | 3,576,146 | ||||||
| Fixed assets, net | 15,052 | 39,598 | ||||||
| Operating lease ROU assets | 1,222,640 | 178,715 | ||||||
| Deposits and other assets | 56,066 | 56,066 | ||||||
| Total assets | $ | 4,039,647 | $ | 3,850,525 | ||||
| Liabilities and Shareholders’ Equity | ||||||||
| Current liabilities: | ||||||||
| Current portion of operating lease liability | $ | 129,875 | $ | 212,359 | ||||
| Accounts payable | 85,825 | 50,880 | ||||||
| Accrued expenses | 53,327 | 14,192 | ||||||
| Total current liabilities | 269,027 | 277,431 | ||||||
| Operating lease liability, net of current portion | 1,166,285 | 55,363 | ||||||
| Total liabilities | 1,435,312 | 332,794 | ||||||
| Shareholders’ equity: | ||||||||
| Common stock, par value | 3,365 | 3,351 | ||||||
| Additional paid-in capital | 128,177,193 | 127,779,221 | ||||||
| Accumulated deficit | (125,576,223 | ) | (124,264,841 | ) | ||||
| Total shareholders’ equity | 2,604,335 | 3,517,731 | ||||||
| Total liabilities and shareholders’ equity | $ | 4,039,647 | $ | 3,850,525 | ||||
RESEARCH FRONTIERS INCORPORATED
Consolidated Statements of Operations
Years ended December 31, 2024 and 2023
| 2024 | 2023 | |||||||
| Fee income | $ | 1,335,531 | $ | 909,598 | ||||
| Operating expenses | 2,207,397 | 2,359,634 | ||||||
| Research and development | 570,007 | 583,266 | ||||||
| Total expenses | 2,777,404 | 2,942,900 | ||||||
| Operating loss | (1,441,873 | ) | (2,033,302 | ) | ||||
| Net investment income | 95,339 | 124,938 | ||||||
| Other income | 35,152 | - | ||||||
| Net loss | $ | (1,311,382 | ) | $ | (1,908,364 | ) | ||
| Basic and diluted net loss per common share | $ | (0.04 | ) | $ | (0.06 | ) | ||
| Weighted average number of common shares outstanding | 33,520,904 | 33,453,627 | ||||||
RESEARCH FRONTIERS INCORPORATED
Consolidated Statements of Shareholders’ Equity
Years ended December 31, 2024 and 2023
| Common Stock | Additional Paid-in | Accumulated | ||||||||||||||||||
| Shares | Amount | Capital | Deficit | Total | ||||||||||||||||
| Balance, December 31, 2022 | 33,150,396 | $ | 3,315 | $ | 127,150,027 | $ | (122,356,477 | ) | $ | 4,796,865 | ||||||||||
| Exercise of warrants | 358,891 | 36 | 484,466 | - | 484,502 | |||||||||||||||
| Share-based compensation | - | - | 144,728 | - | 144,728 | |||||||||||||||
| Net loss | - | - | - | (1,908,364 | ) | (1,908,364 | ) | |||||||||||||
| Balance, December 31, 2023 | 33,509,287 | 3,351 | 127,779,221 | (124,264,841 | ) | 3,517,731 | ||||||||||||||
| Exercise of options | 8,500 | 1 | 8,669 | - | 8,670 | |||||||||||||||
| Share-based compensation | - | - | 89,316 | - | 89,316 | |||||||||||||||
| Issuance of common stock and warrants | 130,434 | 13 | 299,987 | - | 300,000 | |||||||||||||||
| Net loss | - | - | - | (1,311,382 | ) | (1,311,382 | ) | |||||||||||||
| Balance, December 31, 2024 | 33,648,221 | $ | 3,365 | $ | 128,177,193 | $ | (125,576,223 | ) | $ | 2,604,335 | ||||||||||
RESEARCH FRONTIERS INCORPORATED
Consolidated Statements of Cash Flows
Years ended December 31, 2024 and 2023
| 2024 | 2023 | |||||||
| Cash flows from operating activities: | ||||||||
| Net loss | $ | (1,311,382 | ) | $ | (1,908,364 | ) | ||
| Adjustments to reconcile net loss to net cash used in operating activities: | ||||||||
| Depreciation and amortization | 26,169 | 27,348 | ||||||
| Realized gain on marketable securities | - | (57,149 | ) | |||||
| Share-based compensation | 89,316 | 144,728 | ||||||
| Credit loss expense | 25,001 | 95,000 | ||||||
| ROU asset amortization | 237,394 | 144,794 | ||||||
| Change in assets and liabilities: | ||||||||
| Royalty receivables | 320,190 | (508,805 | ) | |||||
| Prepaid expenses and other assets | 3,294 | 4,189 | ||||||
| Accounts payable and accrued expenses | 74,080 | (40,386 | ) | |||||
| Operating lease liability | (252,881 | ) | (196,406 | ) | ||||
| Net cash used in operating activities | (788,819 | ) | (2,295,051 | ) | ||||
| Cash flows from investing activities: | ||||||||
| Purchases of fixed assets | (1,623 | ) | (1,558 | ) | ||||
| Purchases of marketable securities | - | (5,434,386 | ) | |||||
| Sales and maturities of marketable securities | - | 5,491,535 | ||||||
| Net cash (used in) provided by investing activities | (1,623 | ) | 55,591 | |||||
| Cash flows from financing activities: | ||||||||
| Net proceeds from exercise of options and warrants | 8,670 | 484,502 | ||||||
| Proceeds from issuance of common stock and warrants | 300,000 | - | ||||||
| Net cash provided by financing activities | 308,670 | 484,502 | ||||||
| Net decrease in cash and cash equivalents | (481,772 | ) | (1,754,958 | ) | ||||
| Cash and cash equivalents at beginning of year | 2,475,958 | 4,230,916 | ||||||
| Cash and cash equivalents at end of year | $ | 1,994,186 | $ | 2,475,958 | ||||
| Supplemental disclosure of noncash items: | ||||||||
| Operating lease assets obtained for operating lease liabilities | $ | 1,281,319 | $ | - | ||||
FAQ
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