# Research Frontiers Inc: financial statements, quarterly

REFR · Nasdaq · CIK 793524 · [Financials](/sectors/financials.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/refr.md) · [Financials](/companies/refr/financials.md) · [Filings](/companies/refr/filings.md) · [Insiders](/companies/refr/insiders.md)

Standardized line items from XBRL company facts. Each value links to its filing; d marks a value derived from year-to-date figures. Other view: [annual](/companies/refr/financials.md?period=annual).

## Income statement

| Line item | Unit | Q3 FY2023 (2023-09-30) | Q4 FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $k | [164](/filings/0001493152-24-044002.md) | [312 d](/filings/0001493152-25-009377.md) | [313](/filings/0001641172-25-009244.md) | [490](/filings/0001641172-25-022577.md) | [354](/filings/0001493152-25-021062.md) | [178 d](/filings/0001493152-26-008988.md) | [560](/filings/0001493152-26-021790.md) | [130](/filings/0001493152-26-036332.md) | [359](/filings/0001493152-25-021062.md) | [72.1 d](/filings/0001493152-26-008988.md) | [136](/filings/0001493152-26-021790.md) | [86.3](/filings/0001493152-26-036332.md) |
| Research and development | $k | [135](/filings/0001493152-24-044002.md) | [153 d](/filings/0001493152-25-009377.md) | [150](/filings/0001641172-25-009244.md) | [129](/filings/0001641172-25-022577.md) | [131](/filings/0001493152-25-021062.md) | [160 d](/filings/0001493152-26-008988.md) | [163](/filings/0001493152-26-021790.md) | [169](/filings/0001493152-26-036332.md) | [142](/filings/0001493152-25-021062.md) | [135 d](/filings/0001493152-26-008988.md) | [145](/filings/0001493152-26-021790.md) | [129](/filings/0001493152-26-036332.md) |
| Operating income | $k | [(514)](/filings/0001493152-24-044002.md) | [(505) d](/filings/0001493152-25-009377.md) | [(470)](/filings/0001641172-25-009244.md) | [(116)](/filings/0001641172-25-022577.md) | [(232)](/filings/0001493152-25-021062.md) | [(624) d](/filings/0001493152-26-008988.md) | [(240)](/filings/0001493152-26-021790.md) | [(815)](/filings/0001493152-26-036332.md) | [(304)](/filings/0001493152-25-021062.md) | [(774) d](/filings/0001493152-26-008988.md) | [(530)](/filings/0001493152-26-021790.md) | [(670)](/filings/0001493152-26-036332.md) |
| Income tax | $k | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Net income | $k | [(472)](/filings/0001493152-24-044002.md) | [(480) d](/filings/0001493152-25-009377.md) | [(443)](/filings/0001641172-25-009244.md) | [(94.0)](/filings/0001641172-25-022577.md) | [(167)](/filings/0001493152-25-021062.md) | [(608) d](/filings/0001493152-26-008988.md) | [(178)](/filings/0001493152-26-021790.md) | [(804)](/filings/0001493152-26-036332.md) | [(299)](/filings/0001493152-25-021062.md) | [(766) d](/filings/0001493152-26-008988.md) | [(525)](/filings/0001493152-26-021790.md) | [(660)](/filings/0001493152-26-036332.md) |
| Diluted EPS | $ per share | [(0.01)](/filings/0001493152-24-044002.md) | not reported | [(0.01)](/filings/0001641172-25-009244.md) | [0.00](/filings/0001641172-25-022577.md) | [0.00](/filings/0001493152-25-021062.md) | not reported | [(0.01)](/filings/0001493152-26-021790.md) | [(0.02)](/filings/0001493152-26-036332.md) | [(0.01)](/filings/0001493152-25-021062.md) | not reported | [(0.02)](/filings/0001493152-26-021790.md) | [(0.02)](/filings/0001493152-26-036332.md) |
| Basic EPS | $ per share | [(0.01)](/filings/0001493152-24-044002.md) | not reported | [(0.01)](/filings/0001641172-25-009244.md) | [0.00](/filings/0001641172-25-022577.md) | [0.00](/filings/0001493152-25-021062.md) | not reported | [(0.01)](/filings/0001493152-26-021790.md) | [(0.02)](/filings/0001493152-26-036332.md) | [(0.01)](/filings/0001493152-25-021062.md) | not reported | [(0.02)](/filings/0001493152-26-021790.md) | [(0.02)](/filings/0001493152-26-036332.md) |

- Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax
- Research and development: us-gaap:ResearchAndDevelopmentExpense
- Operating income: us-gaap:OperatingIncomeLoss
- Income tax: not reported
- Net income: us-gaap:NetIncomeLoss
- Diluted EPS: us-gaap:EarningsPerShareDiluted
- Basic EPS: us-gaap:EarningsPerShareBasic

## Balance sheet

| Line item | Unit | Q3 FY2023 (2023-09-30) | FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | $k | [525](/filings/0001493152-23-039137.md) | [2,476](/filings/0001493152-25-009377.md) | [2,093](/filings/0001493152-24-018416.md) | [1,907](/filings/0001493152-24-029910.md) | [1,648](/filings/0001493152-24-044002.md) | [1,994](/filings/0001493152-26-008988.md) | [1,353](/filings/0001641172-25-009244.md) | [1,274](/filings/0001641172-25-022577.md) | [1,130](/filings/0001493152-25-021062.md) | [664](/filings/0001493152-26-036332.md) | [1,279](/filings/0001493152-26-021790.md) | [1,088](/filings/0001493152-26-036332.md) |
| Current assets | $k | [3,910](/filings/0001493152-23-039137.md) | [3,576](/filings/0001493152-25-009377.md) | [3,291](/filings/0001493152-24-018416.md) | [3,190](/filings/0001493152-24-029910.md) | [2,851](/filings/0001493152-24-044002.md) | [2,746](/filings/0001493152-26-008988.md) | [2,521](/filings/0001641172-25-009244.md) | [1,972](/filings/0001641172-25-022577.md) | [1,615](/filings/0001493152-25-021062.md) | [1,144](/filings/0001493152-26-036332.md) | [2,017](/filings/0001493152-26-021790.md) | [1,456](/filings/0001493152-26-036332.md) |
| Total assets | $k | [4,227](/filings/0001493152-23-039137.md) | [3,851](/filings/0001493152-25-009377.md) | [3,523](/filings/0001493152-24-018416.md) | [3,380](/filings/0001493152-24-029910.md) | [2,999](/filings/0001493152-24-044002.md) | [4,040](/filings/0001493152-26-008988.md) | [3,768](/filings/0001641172-25-009244.md) | [3,173](/filings/0001641172-25-022577.md) | [2,769](/filings/0001493152-25-021062.md) | [2,252](/filings/0001493152-26-036332.md) | [3,081](/filings/0001493152-26-021790.md) | [2,476](/filings/0001493152-26-036332.md) |
| Current liabilities | $k | [264](/filings/0001493152-23-039137.md) | [277](/filings/0001493152-25-009377.md) | [439](/filings/0001493152-24-018416.md) | [390](/filings/0001493152-24-029910.md) | [176](/filings/0001493152-24-044002.md) | [269](/filings/0001493152-26-008988.md) | [211](/filings/0001641172-25-009244.md) | [280](/filings/0001641172-25-022577.md) | [212](/filings/0001493152-25-021062.md) | [298](/filings/0001493152-26-036332.md) | [316](/filings/0001493152-26-021790.md) | [411](/filings/0001493152-26-036332.md) |
| Total liabilities | $k | [374](/filings/0001493152-23-039137.md) | [333](/filings/0001493152-25-009377.md) | [439](/filings/0001493152-24-018416.md) | [390](/filings/0001493152-24-029910.md) | [176](/filings/0001493152-24-044002.md) | [1,435](/filings/0001493152-26-008988.md) | [1,341](/filings/0001641172-25-009244.md) | [1,375](/filings/0001641172-25-022577.md) | [1,270](/filings/0001493152-25-021062.md) | [1,318](/filings/0001493152-26-036332.md) | [1,297](/filings/0001493152-26-021790.md) | [1,352](/filings/0001493152-26-036332.md) |
| Shareholders' equity | $k | [3,853](/filings/0001493152-24-044002.md) | [3,518](/filings/0001493152-26-008988.md) | [3,084](/filings/0001641172-25-022577.md) | [2,990](/filings/0001493152-25-021062.md) | [2,823](/filings/0001493152-25-021062.md) | [2,604](/filings/0001493152-26-036332.md) | [2,427](/filings/0001493152-26-036332.md) | [1,798](/filings/0001493152-26-036332.md) | [1,500](/filings/0001493152-25-021062.md) | [934](/filings/0001493152-26-036332.md) | [1,783](/filings/0001493152-26-036332.md) | [1,123](/filings/0001493152-26-036332.md) |

- Cash and equivalents: us-gaap:CashAndCashEquivalentsAtCarryingValue
- Current assets: us-gaap:AssetsCurrent
- Total assets: us-gaap:Assets
- Current liabilities: us-gaap:LiabilitiesCurrent
- Total liabilities: us-gaap:Liabilities
- Shareholders' equity: us-gaap:StockholdersEquity

## Cash flow

| Line item | Unit | Q3 FY2023 (2023-09-30) | Q4 FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Operating cash flow | $k | [(523) d](/filings/0001493152-24-044002.md) | [(549) d](/filings/0001493152-25-009377.md) | [(391)](/filings/0001641172-25-009244.md) | [(187) d](/filings/0001641172-25-022577.md) | [(258) d](/filings/0001493152-25-021062.md) | [47.1 d](/filings/0001493152-26-008988.md) | [(641)](/filings/0001493152-26-021790.md) | [(78.4) d](/filings/0001493152-26-036332.md) | [(144) d](/filings/0001493152-25-021062.md) | [(466) d](/filings/0001493152-26-008988.md) | [(760)](/filings/0001493152-26-021790.md) | [(191) d](/filings/0001493152-26-036332.md) |
| Capital expenditure | $k | [(0.0) d](/filings/0001493152-24-044002.md) | [0.3 d](/filings/0001493152-25-009377.md) | [0.1](/filings/0001641172-25-009244.md) | [0.1 d](/filings/0001641172-25-022577.md) | [0.6 d](/filings/0001493152-25-021062.md) | [0.9 d](/filings/0001493152-26-008988.md) | [0.1](/filings/0001493152-26-021790.md) | [0.1 d](/filings/0001493152-26-036332.md) | [0.4 d](/filings/0001493152-25-021062.md) | [0.1 d](/filings/0001493152-26-008988.md) | [0.1](/filings/0001493152-26-021790.md) | [0.0 d](/filings/0001493152-26-036332.md) |

- Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities
- Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment

## Shares

| Line item | Unit | Q3 FY2022 (2022-09-30) | Q1 FY2023 (2023-03-31) | Q2 FY2023 (2023-06-30) | Q3 FY2023 (2023-09-30) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Diluted shares (weighted) | millions of shares | [31.8](/filings/0001493152-23-039137.md) | [33.3](/filings/0001493152-24-018416.md) | [33.5](/filings/0001493152-24-029910.md) | [33.5](/filings/0001493152-24-044002.md) | [33.5](/filings/0001641172-25-009244.md) | [33.5](/filings/0001641172-25-022577.md) | [33.5](/filings/0001493152-25-021062.md) | [33.6](/filings/0001493152-26-021790.md) | [33.6](/filings/0001493152-26-036332.md) | [33.6](/filings/0001493152-25-021062.md) | [34.2](/filings/0001493152-26-021790.md) | [34.9](/filings/0001493152-26-036332.md) |

- Diluted shares (weighted): us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding

Shares outstanding: 34,867,786 at 2026-08-06, from the cover of the [10-Q filed 2026-08-06](/filings/0001493152-26-036332.md) (dei:EntityCommonStockSharesOutstanding).

Source: SEC EDGAR, XBRL company facts. Last ingested by Listed: Oct 24, 2026, 15:24 ET. No prices; not investment advice.