WOODBURY, N.Y., Aug. 06, 2026 (GLOBE NEWSWIRE) -- Research Frontiers Inc. (Nasdaq: REFR) announced its financial results for its second quarter of 2026. Management will host a conference call today at 4:30 p.m. Eastern Time to discuss its financial and operating results as well as recent developments.
| • | Who: Joseph M. Harary, President & CEO | |
| • | Date/Time: Thursday, August 6, 2026, 4:30 PM ET | |
| • | Dial-in Information:1-888-334-5785 | |
| • | Conference Link: https://join.broaddata.com/?id=research-frontiers | |
| • | Replay: Available on Friday, August 7, 2026 for 90 days at https://smartglass-ir.com/ |
“The second quarter continued to reflect the temporary impact of our principal SPD-Smart light control film supplier's reduced production, rather than any change in the underlying demand for SPD-Smart technology," said Joseph M. Harary, President and CEO of Research Frontiers. "Throughout this period our customers remained committed, we added a new licensee, continued advancing new applications including black SPD technology, and maintained our strong intellectual property portfolio. While near-term financial results in the second quarter were affected by reduced SPD film production, we believe the resource-related issues at Gauzy is nearing its conclusion and we remain confident in the long-term opportunities for SPD technology.”
Management expects during today’s conference call to discuss the status of developments at Gauzy including current SPD film production, and the Company's contingency plans to support future manufacturing capacity.
For more details, please see the Company’s Quarterly Report on Form 10-Q for the fiscal quarter ending June 30, 2026.
About Research Frontiers
Research Frontiers (Nasdaq: REFR) is a publicly traded technology company and the developer of patented SPD-Smart light-control film technology that allows users to instantly, precisely and uniformly control the shading of glass or plastic products, either manually or automatically. Research Frontiers has licensed its smart glass technology to numerous companies that include well known chemical, material science and glass companies. Products using Research Frontiers’ smart glass technology are being used in tens of thousands of cars, aircraft, yachts, trains, homes, offices, museums and other buildings. For more information, please visit our website at www.SmartGlass.com, and on Facebook, Twitter, LinkedIn and YouTube.
Note: From time to time Research Frontiers may issue forward-looking statements which involve risks and uncertainties. This press release contains forward-looking statements. Actual results, especially those reliant on activities by third parties, could differ and are not guaranteed. Any forward-looking statements should be considered accordingly. “SPD-Smart” and “SPD-SmartGlass” are trademarks of Research Frontiers Inc.
CONTACT:
Joseph M. Harary
President and CEO
Research Frontiers Inc.
+1-516-364-1902
Info@SmartGlass.com
RESEARCH FRONTIERS INCORPORATED
Condensed Consolidated Balance Sheets
| June 30, 2026 | December 31, 2025 | |||||||
| (Unaudited) | (See Note 1) | |||||||
| Assets | ||||||||
| Current assets: | ||||||||
| Cash and cash equivalents | $ | 1,087,956 | $ | 664,299 | ||||
| Royalties receivable, net of reserves of $1,534,850 and $1,384,850, respectively | 207,955 | 408,666 | ||||||
| Prepaid expenses and other current assets | 159,730 | 70,969 | ||||||
| Total current assets | 1,455,641 | 1,143,934 | ||||||
| Fixed assets, net | 2,867 | 3,393 | ||||||
| Operating lease ROU assets | 960,989 | 1,048,352 | ||||||
| Deposits and other assets | 56,066 | 56,066 | ||||||
| Total assets | $ | 2,475,563 | $ | 2,251,745 | ||||
| Liabilities and Shareholders’ Equity | ||||||||
| Current liabilities: | ||||||||
| Current portion of operating lease liability | $ | 152,960 | $ | 146,043 | ||||
| Accounts payable | 135,206 | 132,666 | ||||||
| Deferred revenue | 69,068 | - | ||||||
| Accrued expenses | 53,651 | 19,168 | ||||||
| Total current liabilities | 410,885 | 297,877 | ||||||
| Operating lease liability, net of current portion | 941,585 | 1,020,242 | ||||||
| Total liabilities | 1,352,470 | 1,318,119 | ||||||
| Shareholders’ equity: | ||||||||
| Common stock, par value $0.0001 per share; authorized 100,000,000 shares, issued and outstanding 34,867,786 in 2026 and 33,648,221 in 2025 | 3,487 | 3,365 | ||||||
| Additional paid-in capital | 129,926,946 | 128,552,068 | ||||||
| Accumulated deficit | (128,807,340 | ) | (127,621,807 | ) | ||||
| Total shareholders’ equity | 1,123,093 | 933,626 | ||||||
| Total liabilities and shareholders’ equity | $ | 2,475,563 | $ | 2,251,745 | ||||
RESEARCH FRONTIERS INCORPORATED
Condensed Consolidated Statements of Operations
(Unaudited)
| Six months ended June 30, | Three months ended June 30, | |||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||
| Fee income | $ | 222,665 | $ | 689,680 | $ | 86,346 | $ | 129,904 | ||||||||
| Operating expenses | 1,148,598 | 1,412,398 | 627,216 | 775,922 | ||||||||||||
| Research and development | 274,234 | 331,963 | 128,884 | 169,086 | ||||||||||||
| Total expenses | 1,422,832 | 1,744,361 | 756,100 | 945,008 | ||||||||||||
| Operating loss | (1,200,167 | ) | (1,054,681 | ) | (669,754 | ) | (815,104 | ) | ||||||||
| Net interest income | 14,634 | 25,811 | 9,586 | 11,278 | ||||||||||||
| Other income | - | 47,357 | - | - | ||||||||||||
| Net loss | $ | (1,185,533 | ) | $ | (981,513 | ) | $ | (660,168 | ) | $ | (803,826 | ) | ||||
| Basic and diluted net loss per common share | $ | (0.03 | ) | $ | (0.03 | ) | $ | (0.02 | ) | $ | (0.02 | ) | ||||
| Weighted average number of common shares outstanding | 34,513,740 | 33,648,221 | 34,867,786 | 33,648,221 | ||||||||||||
RESEARCH FRONTIERS INCORPORATED
Condensed Consolidated Statements of Shareholders’ Equity
(Unaudited)
For the six months ended June 30, 2025 and 2026
| Common Stock | Additional Paid-in | Accumulated | ||||||||||||||||||
| Shares | Amount | Capital | Deficit | Total | ||||||||||||||||
| Balance, January 1, 2025 | 33,648,221 | $ | 3,365 | $ | 128,177,193 | $ | (125,576,223 | ) | $ | 2,604,335 | ||||||||||
| Share-based compensation | - | - | 175,204 | - | 175,204 | |||||||||||||||
| Net loss | - | - | - | (981,513 | ) | (981,513 | ) | |||||||||||||
| Balance, June 30, 2025 | 33,648,221 | $ | 3,365 | $ | 128,352,397 | $ | (126,557,736 | ) | $ | 1,798,026 | ||||||||||
| Balance, January 1, 2026 | 33,648,221 | $ | 3,365 | $ | 128,552,068 | $ | (127,621,807 | ) | $ | 933,626 | ||||||||||
| Issuance of common stock and warrants | 1,219,565 | 122 | 1,374,878 | - | 1,375,000 | |||||||||||||||
| Net loss | - | - | - | (1,185,533 | ) | (1,185,533 | ) | |||||||||||||
| Balance, June 30, 2026 | 34,867,786 | $ | 3,487 | $ | 129,926,946 | $ | (128,807,340 | ) | $ | 1,123,093 | ||||||||||
For the three months ended June 30, 2025 and 2026
| Common Stock | Additional Paid-in | Accumulated | ||||||||||||||||||
| Shares | Amount | Capital | Deficit | Total | ||||||||||||||||
| Balance, March 31, 2025 | 33,648,221 | $ | 3,365 | $ | 128,177,193 | $ | (125,753,910 | ) | $ | 2,426,648 | ||||||||||
| Share-based compensation | - | - | 175,204 | - | 175,204 | |||||||||||||||
| Net loss | - | - | - | (803,826 | ) | (803,826 | ) | |||||||||||||
| Balance, June 30, 2025 | 33,648,221 | $ | 3,365 | $ | 128,352,397 | $ | (126,557,736 | ) | $ | 1,798,026 | ||||||||||
| Balance, March 31, 2026 | 34,867,786 | $ | 3,487 | $ | 129,926,946 | $ | (128,147,172 | ) | $ | 1,783,261 | ||||||||||
| Net loss | - | - | - | (660,168 | ) | (660,168 | ) | |||||||||||||
| Balance, June 30, 2026 | 34,867,786 | $ | 3,487 | $ | 129,926,946 | $ | (128,807,340 | ) | $ | 1,123,093 | ||||||||||
RESEARCH FRONTIERS INCORPORATED
Condensed Consolidated Statements of Cash Flows
(Unaudited)
| Six months ended June 30, | ||||||||
| 2026 | 2025 | |||||||
| Cash flows from operating activities: | ||||||||
| Net loss | $ | (1,185,533 | ) | $ | (981,513 | ) | ||
| Adjustments to reconcile net loss to net cash used in operating activities: | ||||||||
| Depreciation and amortization | 631 | 6,166 | ||||||
| Share-based compensation | - | 175,204 | ||||||
| Credit loss expense | 150,000 | 124,253 | ||||||
| ROU asset amortization | 87,363 | 86,925 | ||||||
| Change in assets and liabilities: | ||||||||
| Royalty receivables | 50,711 | (2,413 | ) | |||||
| Prepaid expenses and other assets | (88,761 | ) | (67,791 | ) | ||||
| Accounts payable and accrued expenses | 37,023 | (68,297 | ) | |||||
| Deferred revenue | 69,068 | 71,563 | ||||||
| Operating lease liability | (71,740 | ) | (63,798 | ) | ||||
| Net cash used in operating activities | (951,238 | ) | (719,701 | ) | ||||
| Cash flows from investing activities: | ||||||||
| Purchases of fixed assets | (105 | ) | (209 | ) | ||||
| Net cash used in investing activities | (105 | ) | (209 | ) | ||||
| Cash flows from financing activities: | ||||||||
| Net proceeds from sale of common stock and warrants | 1,375,000 | - | ||||||
| Net cash provided by financing activities | 1,375,000 | - | ||||||
| Net increase (decrease) in cash and cash equivalents | 423,657 | (719,910 | ) | |||||
| Cash and cash equivalents at beginning of period | 664,299 | 1,994,186 | ||||||
| Cash and cash equivalents at end of period | $ | 1,087,956 | $ | 1,274,276 | ||||
