WOODBURY, NY, Nov. 24, 2025 (GLOBE NEWSWIRE) -- Research Frontiers Inc. (Nasdaq: REFR) highlighted the strong industry interest in SPD-SmartGlass at last week’s ECV Automotive Glazing Summit in Detroit, where Research Frontiers President & CEO Joseph M. Harary served as Chairman of the event and delivered the keynote address. The summit brought together automakers, Tier-1 suppliers, glass manufacturers, and technology innovators to discuss next-generation automotive glazing and its role in vehicle comfort, ...

WOODBURY, NY, Nov. 24, 2025 (GLOBE NEWSWIRE) -- Research Frontiers Inc. (Nasdaq: REFR) highlighted the strong industry interest in SPD-SmartGlass at last week’s ECV Automotive Glazing Summit in Detroit, where Research Frontiers President & CEO Joseph M. Harary served as Chairman of the event and delivered the keynote address. The summit brought together automakers, Tier-1 suppliers, glass manufacturers, and technology innovators to discuss next-generation automotive glazing and its role in vehicle comfort, ...

Abraham Lincoln Presidential Library and Museum’s visitors can now experience Lincoln’s Gettysburg Address in SmallCorp’s archival exhibit case using VariGuard electronically dimmable SPD-SmartGlass. Springfield, Illinois, Nov. 19, 2025 (GLOBE NEWSWIRE) -- “Four score and seven years ago our fathers brought forth on this continent, a new nation...” With these words, Abraham Lincoln began what would become one of the most revered speeches in American history. Today, exactly 162 years since Lincoln delivered ...

WOODBURY, NY, Nov. 13, 2025 (GLOBE NEWSWIRE) -- As the automotive industry accelerates toward smarter, more sustainable vehicles, Research Frontiers (Nasdaq: REFR) President and CEO Joseph M. Harary will serve as Chairman and Keynote Speaker at the upcoming North American Vehicle Glazing Innovation Summit 2025, November 18–19 in Detroit. Joe Harary will open the conference as its selected Chairman, and later present his Keynote, “Real World Uses of SPD-SmartGlass and Other Variable Tint Technologies,” at 3: ...

Financial Data and Key Metrics Changes - Automotive and total royalties increased year over year and sequentially when excluding one-time events from 2024 [3] - As of September 30, 2025, the company held approximately $1.13 million in cash and had working capital of $1.4 million, remaining debt-free [7][8] - Royalty income from Ferrari sales will be fully recordable in the fourth quarter, with expectations for revenue growth across all market segments [6][7] Business Line Data and Key Metrics Changes - The architectural retrofit system was launched at Glass Build 2025, receiving positive feedback from attendees [3][4] - The company has identified initial customers for the retrofit system, including government buildings and commercial high-rises [3] - Royalty income from automotive sales was impacted by a licensee transition, but overall royalties in Q3 were higher than the previous year after adjusting for one-time events [5][6] Market Data and Key Metrics Changes - The company is experiencing significant interest in its SPD Smart Glass technology across multiple industries, including aerospace, automotive, and architectural markets [8][31] - The government is a major customer, promoting SPD Smart Glass through tax incentives, which is expected to accelerate adoption [31] Company Strategy and Development Direction - The company plans to build on momentum from trade shows and is focusing on major upcoming events to showcase its products [4][9] - Continuous innovation is a priority, with developments such as black SPD film expected to enter production soon [38][39] - The company aims to maintain a low-risk, asset-light business model while expanding its global reach through licensing [42][43] Management's Comments on Operating Environment and Future Outlook - Management acknowledges that while progress may take longer than anticipated, the company is consistently moving forward with its projects [30][39] - The automotive industry is viewed as a challenging but promising market, with increasing demand for SPD technology [31][43] - The company is positioned for meaningful growth with multiple new car model introductions and the retrofit launch underway [44] Other Important Information - The company has a full pipeline of projects and opportunities, with significant developments expected in the near term [8][39] - Management highlighted the importance of maintaining high performance and reliability in the smart glass industry, especially in comparison to competitors [37][43] Q&A Session Summary Question: Where are all the car sales that have been projected? - Management explained that accounting treatment related to licensee transitions affected reported royalties, but they expect significant automotive sales moving forward [15][16] Question: Is there interest in profiling the retrofit product in media? - Management confirmed that discussions are ongoing to feature the retrofit product in shows and podcasts [17] Question: What was the product installed in the White House? - The product was an anti-eavesdropping bullet-resistant glass, which can also incorporate SPD technology [23][24] Question: How capable is the supply chain setup for the architectural market? - Management indicated that the supply chain is robust, with multiple facilities dedicated to production and lamination [27][28] Question: What is the status of the black SPD film? - Management stated that the development of black SPD is very advanced and will be discussed in closing remarks [26] Question: What caused the slowdown in Hyundai's project? - Management noted that the slowdown was related to the car itself rather than the SPD technology [26]

Financial Performance - For the nine months ended September 30, 2025, the Company reported revenue of $1,049,125, a decrease of 9.4% compared to $1,157,380 for the same period in 2024[28] - Operating loss for the nine months ended September 30, 2025, was $(1,358,625), compared to $(817,589) for the same period in 2024, indicating a significant increase in losses[28] - Employee compensation expenses rose to $834,855 for the nine months ended September 30, 2025, up 11.8% from $746,582 in 2024[28] - Two significant European licensees filed for bankruptcy, accounting for approximately 44% of the Company's revenue during the nine months ended September 30, 2025[46] - The Company has not recorded income tax expense since inception due to ongoing operating losses[47] Revenue Recognition - The Company recognized revenue based on the satisfaction of performance obligations, with a variable royalty fee structure typically ranging from 10-15% of the selling price[38] - During the first nine months of 2025, five licensees accounted for approximately 23%, 22%, 21%, 18%, and 11% of fee income, compared to four licensees accounting for 32%, 31%, 10%, and 10% in 2024[44] - Fee income from Gauzy and Vision Systems represented 13% of the Company’s total fee income for the nine months ended September 30, 2025[58] - Accounts receivable from Gauzy and Vision Systems represented 17% of the Company’s total royalty receivables as of September 30, 2025[58] Share-Based Compensation - The Company recorded share-based compensation of $175,204 during the nine months ended September 30, 2025, related to stock options granted[52] - The fair value of the stock options granted was $1.265, with an expected volatility of 76% and a risk-free interest rate of 3.97%[53] - As of September 30, 2025, the Company had 1,630,434 warrants and 1,281,489 options outstanding[53] - No options or warrants were exercised during the nine-month period ended September 30, 2025[49] Lease Obligations - The Company’s operating lease has a remaining term of 6.3 years as of September 30, 2025, with total lease payments amounting to $1,497,000[55][57] - The incremental borrowing rate for the operating lease increased from 5.5% in 2024 to 7.0% in 2025[55] - Cash rent paid for the nine months ended September 30, 2025, was $163,000, compared to $174,000 for the same period in 2024[55] - The initial term of the operating lease expires on December 31, 2027, with potential renewal options extending to December 31, 2031[55] Other Financial Information - The Company had $37,736 in unbilled revenue included in royalty receivables as of September 30, 2025[40] - The Company received $47,357 in Employee Retention Credits during the nine months ended September 30, 2025, compared to $35,152 in 2024[59] - There has been no material change in the disclosure regarding market risk since the last annual report[86]

Core Insights - Research Frontiers Inc. reported its financial results for the third quarter of 2025, highlighting a positive response to its newly introduced SPD-Smart retrofit window system and growth in the automotive market [1][3][4]. Company Developments - The SPD-Smart retrofit window system was launched at GlassBuild 2025, enabling retrofitting of SPD-SmartGlass in various buildings, receiving positive feedback from industry professionals [3]. - Royalty income from the automotive segment increased year-over-year and sequentially, with the transfer of the Ferrari SPD-SmartGlass business to a new licensee leading to full recognition of related royalties in Q4 [3][4]. - The company’s technology will be showcased at the Automotive Glazing Conference in Detroit, emphasizing its leadership in the automotive glazing sector [3][7]. Technology and Market Position - SPD-SmartGlass technology is gaining global traction, outperforming competitors in clarity, speed, durability, and shading range [4][7]. - Developments in black SPD film and prefabricated lamination stacks are expected to enhance optical performance and reduce production costs, facilitating faster market adoption [7]. Financial Performance - For Q3 2025, Research Frontiers reported a net loss of $1.28 million, compared to a net loss of $703,442 in Q3 2024, with operating expenses increasing [14]. - The company remains debt-free, with cash and cash equivalents of $1.13 million and working capital of $1.4 million as of September 30, 2025, reflecting disciplined financial management [7][14]. - Total current assets decreased to $1.61 million from $2.75 million in the previous year, while total liabilities decreased to $1.27 million from $1.44 million [11][12].

Core Insights - Research Frontiers Inc. announced that its President and CEO, Joseph M. Harary, will chair the North American Vehicle Glazing Innovation Summit 2025, scheduled for November 18–19, 2025, in Detroit, Michigan [1][4] - Harary will deliver a keynote presentation on "Real World Uses of SPD-SmartGlass and Other Variable Tint Technologies," focusing on the impact of light-control glazing in the automotive sector [2][3] Company Overview - Research Frontiers is the inventor and licensor of SPD-SmartGlass technology, which allows for instant and precise control of light passing through glass, enhancing comfort and energy efficiency [6][7] - The company's technology is currently utilized in various applications, including vehicles, aircraft, trains, yachts, and buildings, significantly reducing cabin heat load by up to 95% and blocking 99.5% of light on demand [3][7] Industry Context - The summit will gather key players from the automotive glazing value chain, including major automakers and glass manufacturers, to discuss trends such as smart glass integration, sustainability, and regulatory developments [4][5] - The event is organized by ECV International and aims to explore how glazing innovation can support the future of mobility [5][6]

Company Overview - Research Frontiers Inc. is a publicly traded technology company specializing in SPD-Smart light-control film technology, enabling precise control of shading in glass or plastic products [2] - The company's technology has been licensed to various well-known companies in the chemical, material science, and glass industries, with applications in cars, aircraft, yachts, trains, homes, offices, museums, and other buildings [2] Upcoming Financial Results - Research Frontiers will release its third quarter 2025 financial results on November 6, 2025 [1] - A conference call will be held on the same day at 4:30 PM Eastern Time to discuss the financial and operating results, along with recent developments [1]

Core Insights - The introduction of the RetroWAL SPD-SmartGlass system marks a significant advancement in building modernization, allowing existing windows to be transformed into energy-efficient smart glass without the need for removal of original glazing [1][2] - The system is co-developed with Gauzy Ltd., utilizing SPD light-control technology already implemented in high-end vehicles and aircraft, making it suitable for various building types [2][3] - The global smart glass market is projected to reach $124 billion by 2028, with a CAGR of 22.8%, driven by the architecture segment and retrofit applications [7] Company Overview - Research Frontiers Inc. is the inventor and licensor of SPD-Smart film technology, which allows for precise control of glass shading [9] - Advanced Impact Technologies Group (AIT Group) is a leading manufacturer of advanced functional glass solutions and a licensee of Research Frontiers' technology [10][11] - Gauzy Ltd. focuses on light and vision control technologies, serving various industries including aeronautics and architecture [12] Product Features - The RetroWAL system provides dynamic shading, reducing solar heat gain by up to 20%, blocking UV and infrared light, and lowering noise levels [3][4] - The technology allows for easy retrofit installation, making energy-saving smart glass accessible to a broader market [5] - The system offers lower installation costs (up to 70% savings compared to full glass replacement) and immediate ROI through reduced HVAC loads [14] Market Trends - Governments are promoting energy-efficient technologies, with the U.S. Dynamic Glass Act offering significant investment tax credits for dynamic glazing [5] - Retrofit applications are expected to be the fastest-growing segment in the smart glass market, driven by the need for sustainable building solutions [7]