Stock events for Research Frontiers, Inc. (REFR)
In the past six months, Research Frontiers' stock price has experienced a significant decrease. The company reported weak financial results for FY2025, including a 16% decline in revenue and a net loss. Licensee bankruptcies and restructuring negatively impacted royalty recognition in 2025. Research Frontiers completed a private placement in February 2026. The Q4 2025 earnings call on March 5, 2026, also contributed to the stock's activity.
Demand Seasonality affecting Research Frontiers, Inc.’s stock price
Research Frontiers does not believe that future sales will be seasonal in any material respect due to its licensing business model. The company does not maintain a backlog of orders for its products.
Overview of Research Frontiers, Inc.’s business
Research Frontiers, Inc. is a technology company specializing in vision and light control technologies, particularly its SPD-SmartGlass technology. The company operates under a licensing model, developing and licensing its technology to other companies for manufacturing and marketing. Its core business involves the development and licensing of SPD-SmartGlass technology, which allows for dynamic control of light, glare, and heat passing through transparent surfaces. The major products incorporating Research Frontiers' technology are SPD-SmartGlass applications across various sectors, including transportation, architectural development, and specialty applications.
REFR’s Geographic footprint
Research Frontiers' technology has a worldwide geographic footprint, with over 40 licensees operating globally. In 2025, international sales accounted for 80% of the company's revenue.
REFR Corporate Image Assessment
In the past year, Research Frontiers has received accolades for its smart glass technology, with strong industry interest in its SPD-SmartGlass. The company's technology is widely adopted across various sectors. Despite positive industry recognition, the company has received a "Sell" consensus rating from one analyst based on a research report in the past 90 days.
Ownership
Research Frontiers Incorporated has 37 institutional owners and shareholders holding a total of 3,989,591 shares. Institutional investors own 11.91% of Research Frontiers' stock. Individual/insider ownership accounts for 1.24% of outstanding equity, or 416,040 shares as of March 23, 2026. Joseph M. Harary (President and CEO) bought 65,000 shares in the 90-day window ending March 23, 2026.
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