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Research Frontiers Inc (REFR) stock

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NASDAQ: REFR Nasdaq Specialty Chemicals Next results ~November 5, 2026

E Fundamentals grade

Research Frontiers Inc is a US-listed company in the specialty chemicals industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

Under review: every model's value for Research Frontiers Inc is far from the share price, which usually points to a data problem (a merger, a share-count change, a one-off) rather than a bargain or a bubble.

Price vs value

Under review: free cash flow after stock pay is not positive. We'll show the comparison once resolved.

Research Frontiers Inc valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Funds10 adding, 13 cuttingOf 1 active managers that changed their stake, 0 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Research Frontiers files

Where Research Frontiers stands after its latest 10-Q

Research Frontiers has little or no product revenue yet; it used $2m of cash in the twelve months to June 2026. That puts it 35 of 35 for growth among the specialty chemicals companies we cover. Against its peers on growth, profitability, cash generation and balance sheet, it grades E. It passes 2 of our 2 financial-health checks.

Our model value for Research Frontiers is under review, so past values are not shown until it is resolved.

Source: 10-Q filed August 6, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 5, 2026 (estimated)

Research Frontiers Inc's trailing-twelve-month revenue fell 46.5% year on year, with a free-cash-flow margin of -238.6%. Where it stands out: change in growth rate of +9.4pp ranks 6 of 42 specialty chemicals companies we cover. Where it lags: revenue growth of -46.5% ranks 41 of 42 specialty chemicals companies we cover.

Current signal Free cash flow diverging from earnings: TTM free cash flow fell 67.5% while net income fell 28.1%: a 39pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Net cash. Cash exceeds long-term debt by $0.0bn.

Things to watch

  • Revenue shrinking. Revenue fell 46.5% over the last 12 months.
  • Loss-making. Operating margin is -348.1%: costs exceed revenue.
  • Margins narrowing. Operating margin is down 191.8 points on a year ago.
  • Burning cash. Free cash flow was -238.6% of revenue over the last 12 months.
  • Heavy stock-based pay. Stock pay equals 33.2% of revenue: a real cost that cash-flow figures leave out.
  • High sales multiple. The shares trade at 19 times revenue while operating margins remain thin.

Latest results: FY2026 Q2

Filed August 6, 2026
Earnings per share
-$0.02 against an average estimate of -$0.03: beat by 33.3%
Revenue
$0m, down 33.5% on a year earlier
Next report
November 5, 2026

Research Frontiers' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+2.9%
  • 1 week-20.0%
  • 1 month-50.7%
  • This year-72.5%
  • 1 year-81.4%
  • 5 years-83.9%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$654,232
Operating margin
-348.1%
Net margin
-343.9%
EPS (TTM, diluted)
$-0.07

Growth

Revenue growth
−46.5%
Change in growth rate
+9.4 pts
Share count change
+1.5%

Cash

Free cash flow (TTM)
-$1.6M
FCF margin
-238.6%

Earnings

Last results
March 8, 2018

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

No recent updates are available for REFR from the sources we follow. See filings →

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Research Frontiers Inc valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: free cash flow after stock pay is not positive.

The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.

Valuation models

We value Research Frontiers Inc as an operating company, with every model that fits that kind of business. Cost of equity 9.3%: the 10-year Treasury yield (4.9%) plus a beta of 0.97 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. — Does not apply: This model is withheld pending its input or assumption review.
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. — Does not apply: This model is withheld pending its input or assumption review.
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: This model is withheld pending its input or assumption review.
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: This model is withheld pending its input or assumption review.
Price-to-sales vs peers Sales per share times peers' typical price-to-sales; used only when earnings are negative. ~$0.0 ~$0.0–$0.1 Left out: out of range vs price (0.03x)
Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. — Combined value withheld. Review the individual models and their assumptions.

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Research Frontiers Inc with Specialty Chemicals in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$5.21$1.82$1.04$1.56$3.01$2.81$1.72$1.91$1.01$1.71$1.31$0.36
Market value$125m$44m$25m$40m$90m$88m$54m$61m$34m$57m$44m$12m
+ Net debt (− = net cash)−$6m−$2m−$2m−$3m−$7m−$5m−$269964−$4m−$2m−$2m−$664299−$1m
Enterprise value$119m$42m$23m$38m$84m$84m$54m$57m$31m$55m$43m$11m
Multiples
Price / sales 62.3x35.4x16.6x27.2x57.8x106.8x43.1x113.5x37.1x42.9x39.3x18.8x
Price / earnings ————————————
Price / free cash flow ————————————
EV / EBITDA ————————————

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

18 /100

Weak moat

How hard Research Frontiers's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Net income has been a median -51.3% of total assets over 10 years.

  • Durability 10 / 20

    Operating margin has been a median -195.1%; its worst year was -387.3%.

  • Cash conversion 0 / 20

    Free cash flow was positive in 0 of 10 years, at a median -153.5% of revenue.

  • Discipline 4 / 20

    The diluted share count rose 7.8% over five years; stock-based pay has been a median 35.9% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 5, 2026, after the close.

Analysts' consensus

No analyst estimates are published for Research Frontiers Inc: too few analysts cover it.

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2017 −$0.03 −$0.02 +33.3%
Mar 2017 −$0.04 −$0.04 0.0%
Dec 2016 −$0.06 −$0.06 0.0%
Sept 2016 −$0.05 −$0.02 +60.0%

Adjusted EPS as companies report it, against the average analyst estimate.

Positioning

Short interest
1.8%
of tradable shares
Days to cover
0.13
at average volume
Short interest, 1 month
+52%
to October 15, 2026
Held by institutions
10%
of shares
Held by insiders
15.3%
of shares
Employees
5
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months −81.4%

$1.94 on October 31, 2025 to $0.36

ThenNowEffect
Revenue (last 12 months) $1m $654232 −46.5%
P/S multiple 53.3x 18.8x −64.8%
Share count 34m 34m −1.4%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

Last 3 years −65.4%

$1.04 on November 3, 2023 to $0.36

ThenNowEffect
Revenue (last 12 months) $713561 $654232 −8.3%
P/S multiple 48.0x 18.8x −60.9%
Share count 33m 34m −3.3%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
REFR−39%+11%−47%+69%−23%−73%
Industry peers (median)+19%−26%−8%+6%−13%+6%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
REFR25%33%25%67%25%27%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
REFR−69%−35%−60%−35%−45%−74%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 3, 2015: 94% from June 24, 2020 to October 30, 2026. Getting back needed a 1454% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$0.35 – $2.08
From 52-week high
−82.7%
vs 50-day average
−32.7%
vs 200-day average
−51.4%
Volatility (1 year)
102%
Beta vs S&P 500
1.20

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
1 up, 1 down
typical move ±9.2%
After a week
1 up, 1 down
typical move ±15.4%
After a month
1 up, 1 down
typical move ±22.4%
Results releasedNext dayS&P 500 next day5 days21 days
March 8, 2018 +9.0% +2.2% +12.4% +31.5%
March 14, 2017 −9.5% +0.5% −18.4% −13.3%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Research Frontiers Inc in five measures

Fundamentals grade E
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Research Frontiers Inc
$500K $1M $1.5M $2M FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $727.3K Revenue (TTM), FY23 Q4: $909.6K Revenue (TTM), FY24 Q1: $974.8K Revenue (TTM), FY24 Q2: $1.3M Revenue (TTM), FY24 Q3: $1.5M Revenue (TTM), FY24 Q4: $1.3M Revenue (TTM), FY25 Q1: $1.6M Revenue (TTM), FY25 Q2: $1.2M Revenue (TTM), FY25 Q3: $1.2M Revenue (TTM), FY25 Q4: $1.1M Revenue (TTM), FY26 Q1: $697.8K Revenue (TTM), FY26 Q2: $654.2K $654.2K

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $727.3K
FY23 Q4 $909.6K
FY24 Q1 $974.8K
FY24 Q2 $1.3M
FY24 Q3 $1.5M
FY24 Q4 $1.3M
FY25 Q1 $1.6M
FY25 Q2 $1.2M
FY25 Q3 $1.2M
FY25 Q4 $1.1M
FY26 Q1 $697.8K
FY26 Q2 $654.2K
Revenue growth, TTM YoY Research Frontiers Inc
-100% -50% 0% 50% 100% 150% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 16.9% Revenue growth, TTM YoY, FY23 Q4: 68.5% Revenue growth, TTM YoY, FY24 Q1: 58.8% Revenue growth, TTM YoY, FY24 Q2: 79.3% Revenue growth, TTM YoY, FY24 Q3: 102.1% Revenue growth, TTM YoY, FY24 Q4: 46.8% Revenue growth, TTM YoY, FY25 Q1: 62.3% Revenue growth, TTM YoY, FY25 Q2: -4.5% Revenue growth, TTM YoY, FY25 Q3: -16.5% Revenue growth, TTM YoY, FY25 Q4: -16.0% Revenue growth, TTM YoY, FY26 Q1: -55.9% Revenue growth, TTM YoY, FY26 Q2: -46.5% -46.5%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 16.9%
FY23 Q4 68.5%
FY24 Q1 58.8%
FY24 Q2 79.3%
FY24 Q3 102.1%
FY24 Q4 46.8%
FY25 Q1 62.3%
FY25 Q2 -4.5%
FY25 Q3 -16.5%
FY25 Q4 -16.0%
FY26 Q1 -55.9%
FY26 Q2 -46.5%
Operating margin (TTM) Research Frontiers Inc
-400% -300% -200% -100% 0% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: -322.9% Operating margin (TTM), FY23 Q4: -223.5% Operating margin (TTM), FY24 Q1: -206.6% Operating margin (TTM), FY24 Q2: -125.5% Operating margin (TTM), FY24 Q3: -90.0% Operating margin (TTM), FY24 Q4: -108.0% Operating margin (TTM), FY25 Q1: -76.6% Operating margin (TTM), FY25 Q2: -156.3% Operating margin (TTM), FY25 Q3: -161.6% Operating margin (TTM), FY25 Q4: -190.2% Operating margin (TTM), FY26 Q1: -347.2% Operating margin (TTM), FY26 Q2: -348.1% -348.1%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 -322.9%
FY23 Q4 -223.5%
FY24 Q1 -206.6%
FY24 Q2 -125.5%
FY24 Q3 -90.0%
FY24 Q4 -108.0%
FY25 Q1 -76.6%
FY25 Q2 -156.3%
FY25 Q3 -161.6%
FY25 Q4 -190.2%
FY26 Q1 -347.2%
FY26 Q2 -348.1%
FCF margin (TTM) Research Frontiers Inc
-400% -300% -200% -100% 0% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: -318.3% FCF margin (TTM), FY23 Q4: -252.5% FCF margin (TTM), FY24 Q1: -214.4% FCF margin (TTM), FY24 Q2: -129.0% FCF margin (TTM), FY24 Q3: -94.3% FCF margin (TTM), FY24 Q4: -59.2% FCF margin (TTM), FY25 Q1: -65.8% FCF margin (TTM), FY25 Q2: -76.3% FCF margin (TTM), FY25 Q3: -66.6% FCF margin (TTM), FY25 Q4: -118.6% FCF margin (TTM), FY26 Q1: -207.6% FCF margin (TTM), FY26 Q2: -238.6% -238.6%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 -318.3%
FY23 Q4 -252.5%
FY24 Q1 -214.4%
FY24 Q2 -129.0%
FY24 Q3 -94.3%
FY24 Q4 -59.2%
FY25 Q1 -65.8%
FY25 Q2 -76.3%
FY25 Q3 -66.6%
FY25 Q4 -118.6%
FY26 Q1 -207.6%
FY26 Q2 -238.6%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-Q, 10-Q/A. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 1,599 2,007 1,236 1,509 1,489 1,564 828 1,263 540 910 1,336 1,121 654
EBITDA −4,417 −4,183 −4,079 −2,243 −2,237 −2,954 −2,510 −1,809 −2,596 −2,019 −1,427 −2,121 −2,271
Operating income −4,449 −4,323 −4,268 −2,419 −2,418 −3,149 −2,577 −1,839 −2,625 −2,033 −1,442 −2,132 −2,278
Net income −4,414 −4,280 −4,238 −2,414 −2,686 −3,809 −2,341 −1,846 −2,669 −1,908 −1,311 −2,046 −2,250
Diluted EPS −$0.19 −$0.18 −$0.18 −$0.10 −$0.10 −$0.13 −$0.07 −$0.06 −$0.08 −$0.06 −$0.04 −$0.06 −$0.07
Growth (year on year)
Revenue — +25.6% −38.4% +22.1% −1.4% +5.1% −47.0% +52.5% −57.3% +68.5% +46.8% −16.0% −46.5%
Margins
EBITDA margin −276.3% −208.4% −330.0% −148.6% −150.3% −188.9% −303.0% −143.2% −481.1% −221.9% −106.8% −189.1% −347.2%
Operating margin −278.3% −215.4% −345.3% −160.3% −162.4% −201.4% −311.1% −145.6% −486.4% −223.5% −108.0% −190.2% −348.1%
Net margin −276.1% −213.2% −342.9% −160.0% −180.4% −243.5% −282.6% −146.2% −494.6% −209.8% −98.2% −182.4% −343.9%
Free-cash-flow margin −247.2% −194.1% −325.0% −97.9% −139.9% −137.3% −278.7% −142.9% −404.7% −252.5% −59.2% −118.6% −238.6%
Cash flow
Cash from operations −3,324 −3,581 −4,005 −1,471 −2,071 −2,083 −2,253 −1,804 −2,183 −2,295 −789 −1,329 −1,561
Capital spending 628 316 12 7 12 65 57 1 1 2 2 1 1
Free cash flow −3,951 −3,897 −4,017 −1,477 −2,083 −2,148 −2,309 −1,805 −2,184 −2,297 −790 −1,330 −1,561
Stock-based pay 1,043 725 68 76 69 842 328 217 232 145 89 375 —
Free cash flow after stock pay −4,994 −4,622 −4,085 −1,553 −2,152 −2,990 −2,637 −2,022 −2,416 −2,441 −880 −1,705 —
Balance sheet
Cash 7,570 5,712 1,692 1,738 2,969 6,592 4,773 270 4,231 2,476 1,994 664 1,088
Total debt 0 0 0 0 0 0 0 0 0 0 0 0 0
Net debt (negative = net cash) −7,570 −5,712 −1,692 −1,738 −2,969 −6,592 −4,773 −270 −4,231 −2,476 −1,994 −664 −1,088
Diluted shares 24m 24m 24m 24m 26m 30m 31m 32m 32m 33m 34m 34m 34m

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 2 checks passed · June 30, 2026
What it owns · $2m
Short-term assets $1mLonger-term assets $1m
What it owes, and who funded it · $2m
Short-term liabilities $0mLonger-term liabilities $1mShareholders' equity $1m
  • Short-term assets cover short-term liabilities $1m of assets due within a year against $410,885 of liabilities due within a year.
  • Short-term assets cover long-term liabilities $1m short-term assets against $941,585 of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Research Frontiers Inc's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Diluted share count
+1.5%
year over year
R&D spending
84.2%
of revenue
Days sales outstanding
116 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in specialty chemicals
Last 12 months unless stated REFR CITR SNES BYAH ZONE YMAT Median
Revenue, last 12 months $654232 $1m $2m $3m $3m $10m $906m
Revenue growth, last 12 months −46.5% −26.4% 13.4% 6.0% 64.2% −43.5% 5.4%
Revenue growth, 3-year average −2.9% 134.1% 29.8% — — — 0.9%
Revenue growth, latest quarter −33.5% −59.2% 23.2% — −0.8% — 8.3%
Gross margin — −5.2% 66.2% 94.4% 37.8% 54.1% 28.8%
Operating margin −348.1% <−999% −303.7% −956.5% <−999% −207.7% 4.3%
Operating margin, 3-year average −210.0% −992.9% −353.6% — −711.2% — 5.5%
Net margin −343.9% <−999% −294.7% −965.0% <−999% −203.2% 0.8%
Cash from operations / revenue −238.6% −576.8% −281.4% 3.4% −533.5% −31.8% 6.9%
Free-cash-flow margin −238.6% −579.5% −283.7% −0.1% −534.7% −33.9% 4.3%
Free-cash-flow margin, 3-year average −148.0% −301.2% −342.6% — −248.7% — 5.1%
Stock pay / revenue 33.2% 742.9% 12.1% 953.3% 271.1% 0.9% 1.0%
Change in share count 1.5% 93.5% 74.4% 17.8% — 3.8% 0.1%

Median of all 42 companies we cover in specialty chemicals. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

42 specialty chemicals companies
Measure Company Peer median Rank
Revenue growth Growth -46.5% 6.0% 41 of 42
Change in growth rate Growth +9.4pp +1.3pp 6 of 42
Operating margin Profitability -348.1% 3.8% 36 of 39
Net margin Profitability -343.9% 1.7% 38 of 42
Free-cash-flow margin Cash generation -238.6% 4.8% 38 of 42
Change in share count Balance sheet 1.5% 0.0% 23 of 37
Days sales outstanding Balance sheet 116 days 59 days 28 of 30

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Who owns it

Funds buying and selling
Reported value
$1.9M
Institutions reporting
34
Shares held vs prior quarter
▼ 3.9%
Positions opened / closed
4 / 5

Top buyers and sellers, Q2 2026: 10 institutions bought and 13 sold ; the biggest buyer was Tctc Holdings, LLC (+20K shares) and the biggest seller Blackrock, Inc (−76K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Mgo One Seven LLC $461,033 887K 24.1% ▼ 3.4%
Vanguard Capital Management LLC $301,940 581K 15.8% ▲ 2.2%
Blackrock, Inc. $276,922 533K 14.5% ▼ 12.5%
Focus Partners Wealth $258,139 496K 13.5% 0.0%
Geode Capital Management, LLC $159,088 306K 8.3% ▲ 1.0%
Vanguard Fiduciary Trust Co $92,056 177K 4.8% 0.0%
Susquehanna International Group, LLP $80,635 155K 4.2% ▼ 1.1%
State Street Corp $54,924 106K 2.9% 0.0%
Shufro Rose & Co LLC $50,700 98K 2.7% 0.0%
Northern Trust Corp $27,368 53K 1.4% 0.0%
Renaissance Technologies LLC $21,210 41K 1.1% ▼ 40.3%
Tctc Holdings, LLC $10,400 20K 0.5% New

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Research Frontiers Inc's complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $0 net buying

No open-market insider trades reported in the last 12 months.

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

  • March 8, 2018
  • March 14, 2017

Recent SEC filings

Data status

When each part of this page on Research Frontiers Inc was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Research Frontiers Inc in brief

What does Research Frontiers Inc do?
Research Frontiers Inc is a US-listed company in the specialty chemicals industry. Its financial year ends in December.
What is Research Frontiers Inc's stock ticker?
Research Frontiers Inc trades under the ticker REFR on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Research Frontiers Inc's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Research Frontiers Inc reported revenue of $654,232, 46.5% lower than a year earlier, according to its SEC filings.
What is Research Frontiers Inc's free cash flow?
Research Frontiers Inc's free-cash-flow margin is -238.6% of revenue over the trailing twelve months, ranking 38 of the 42 specialty chemicals companies we cover.
Who are Research Frontiers Inc's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Mgo One Seven LLC, Vanguard Capital Management LLC and Blackrock, Inc. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Research Frontiers Inc's market cap?
On November 2, 2026, Research Frontiers Inc's market capitalisation was about $12.3M and net debt of -$1.1M. Market figures come from third-party market data and may be delayed.
Who are Research Frontiers Inc's competitors?
In our Specialty Chemicals peer group, the companies closest to Research Frontiers Inc are Citrotech Inc., Senestech, Inc., Park Ha Biological Technology Co., Ltd., Zone Frontier Inc. and J-star Holding Co., Ltd. The side-by-side comparison below sets their revenue, margins and growth against Research Frontiers Inc's.
When is Research Frontiers Inc's next earnings date?
Around November 5, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Research Frontiers Inc announces its own schedule.