Thu, Mar 6, 9:04 PM (51 days ago)
Research Frontiers Incorporated (NASDAQ: REFR) reported an increase in revenue to $1,336,000 in 2024, a 47% rise from $910,000 in 2023, primarily driven by higher royalties from automotive and aircraft markets. The net loss narrowed to $1,311,000 ($0.04 per share) from $1,908,000 ($0.06 per share) the previous year. Operating expenses decreased to $2,207,000, while R&D costs slightly fell to $570,000. As of December 31, 2024, cash and cash equivalents stood at $2 million, with total shareholders' equity at approximately $2.6 million. The company continues to face risks including dependency on licensees for product commercialization, potential competition, and the need for additional funding. Despite these challenges, the automotive sector remains a significant growth area for SPD-Smart products. The firm has over 40 licensees, generating most of its revenue from a few key partners. Future strategies include expanding market penetration and enhancing product development.