Research Frontiers Incorporated (REFR)

In November 2025, the company highlighted strong industry interest in SPD-SmartGlass, leading to a 4.52% gain in stock price. Research Frontiers reported its third-quarter 2025 financial results, noting that automotive and total royalties were up year-over-year and sequentially. In August 2025, second-quarter financial results were impacted by one-time charges related to a European licensee's bankruptcy, resulting in a mild negative market reaction. In May 2025, the company reported strong first-quarter 2025 financial results, with royalty income surging 79% year-over-year. In March 2025, the company released its fourth-quarter and full-year 2024 financial results, reporting a 47% increase in royalty income for 2024. In January 2026, the stock experienced a 3.91% gain on January 13, 2026, but had fallen in 6 of the preceding 10 days, resulting in a 2.92% decrease over that period.

The demand for Research Frontiers, Inc.'s products and services appears to be driven by product development cycles, new model introductions, and increasing adoption across various industries rather than specific seasonal fluctuations. The company anticipates revenue increases as new products utilizing SPD-SmartGlass technology are introduced into the market.

Research Frontiers, Inc. is a nanotechnology company specializing in Suspended Particle Device (SPD-SmartGlass) technology, which allows users to control the shading of glass or plastic products. The company operates within the Consumer Durables sector, with its industry classified under Electronic Components, Home Furnishings, Other Commercial Products, and Other Materials. The technology is licensed to other companies for manufacturing and marketing and is applied in transportation, architecture, and other applications like art conservation.

Research Frontiers, Inc. is headquartered in Woodbury, New York, United States. The company's SPD-SmartGlass technology is licensed to over 40 companies globally, serving major application areas in aerospace, architectural, automotive, marine, and display products in virtually every country worldwide. Products utilizing their smart glass technology are integrated into tens of thousands of cars, aircraft, yachts, trains, homes, offices, and museums across the globe.

Research Frontiers has maintained a positive brand reputation due to increasing adoption of its SPD-SmartGlass technology. The company has highlighted rising industry momentum for SPD-SmartGlass, particularly in the automotive sector. The CEO has delivered keynote addresses at industry events, emphasizing the advantages of SPD-SmartGlass. Continued growth in the use of SPD-SmartGlass in automotive models and commercial airlines has bolstered its reputation. The debut of an SPD-SmartGlass retrofit window system at GlassBuild 2025 also positively impacted its standing.

Approximately 6.14% to 15.47% of the company's stock is owned by institutional investors, with major holders including WR Wealth Planners LLC, Focus Partners Wealth, and Geode Capital Management LLC. Insiders own approximately 2.83% to 6.50% of the stock. Retail investors hold a significant portion, approximately 88.49% of the stock.