Core Insights - Research Frontiers Inc. reported a significant increase in royalty income, with a 47% growth in 2024, reaching $1,335,531 compared to $909,598 in 2023, driven by strong performance in the automotive and aircraft markets [2][3] - The company anticipates further revenue growth across various market segments, including new car models and aircraft featuring SPD-SmartGlass technology in 2025 [3] - Operational efficiencies led to a reduction in expenses by over $165,000 (-6%) in 2024, resulting in a decreased net loss of $1,311,382, which is 31% lower than the previous year's loss of $1,908,364 [4][10] Revenue and Market Performance - The increase in royalty income was primarily attributed to double-digit percentage gains in the automotive and aircraft sectors [2] - SPD-SmartGlass technology saw adoption in high-profile vehicles such as the Ferrari Purosangue and McLaren models, as well as in commercial airlines' cabin windows [3] Financial Stability - The company reported cash and cash equivalents of approximately $2.0 million and working capital of $2.5 million as of December 31, 2024, with no debt, ensuring sufficient working capital for at least the next five years [4] - Total assets increased to $4,039,647 in 2024 from $3,850,525 in 2023, while total liabilities rose to $1,435,312 from $332,794 [9][10] Operational Efficiency - Operating expenses decreased to $2,777,404 in 2024 from $2,942,900 in 2023, contributing to improved financial performance [10] - The company achieved an operating loss of $1,441,873 in 2024, a reduction from the previous year's loss of $2,033,302 [10]