Research Frontiers Inc income statement
In fiscal 2025, Research Frontiers Inc reported revenue of $1.1m, down 16.0% on the year before, operating income of −$2.1m (a -190.2% margin) and net income of −$2.0m, or −$0.06 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2014Dec 2014 | 2015Dec 2015 | 2016Dec 2016 | 2017Dec 2017 | 2018Dec 2018 | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMJun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 1,599 | 2,007 | 1,236 | 1,509 | 1,489 | 1,564 | 828 | 1,263 | 540 | 910 | 1,336 | 1,121 | 654 |
| Research and development | 1,622 | 1,588 | 1,418 | 800 | 863 | 1,036 | 628 | 580 | 609 | 583 | 570 | 609 | 551 |
| General and administrative | 4,426 | 4,742 | 4,086 | 3,128 | — | — | — | — | — | — | — | — | — |
| 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 |
| Income before tax | −4,414 | — | — | — | — | — | — | — | — | — | — | — | — |
| 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 |
| Diluted shares (average) | 24m | 24m | 24m | 24m | 26m | 30m | 31m | 32m | 32m | 33m | 34m | 34m | 34m |
| 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 |
| Quarter | 2024 Q3Sept 2024 | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 354 | 178 | 560 | 130 | 359 | 72 | 136 | 86 |
| Research and development | 131 | 160 | 163 | 169 | 142 | 135 | 145 | 129 |
| Operating income | −232 | −624 | −240 | −815 | −304 | −774 | −530 | −670 |
| Net income | −167 | −608 | −178 | −804 | −299 | −766 | −525 | −660 |
| Diluted EPS | $0.00 | −$0.02 | −$0.01 | −$0.02 | −$0.01 | −$0.02 | −$0.02 | −$0.02 |
| EBITDA | −228 | −621 | −237 | −812 | −301 | −771 | −530 | −669 |
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