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Upturn AI SWOT - About
REFR 
Research Frontiers Incorporated (REFR)
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Upturn Advisory Summary
10/31/2025: REFR (1-star) has a low Upturn Star Rating. Not recommended to BUY.
Upturn Star Rating
Not Recommended Performance
These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.
Analysis of Past Performance
Type Stock | Historic Profit 13.49% | Avg. Invested days 36 | Today’s Advisory Consider higher Upturn Star rating |
Upturn Star Rating | Upturn Advisory Performance  4.0 | Stock Returns Performance  2.0 |
| Profits based on simulation | Last Close 10/31/2025 |
Key Highlights
Company Size Small-Cap Stock | Market Capitalization 55.52M USD | Price to earnings Ratio - | 1Y Target Price 3 |
Price to earnings Ratio - | 1Y Target Price 3 | ||
Volume (30-day avg) - | Beta 0.07 | 52 Weeks Range 0.93 - 2.39 | Updated Date 06/29/2025 |
52 Weeks Range 0.93 - 2.39 | Updated Date 06/29/2025 | ||
Dividends yield (FY) - | Basic EPS (TTM) -0.04 |
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin -66.15% | Operating Margin (TTM) -42.8% |
Management Effectiveness
Return on Assets (TTM) -20.77% | Return on Equity (TTM) -37.98% |
Valuation
Trailing PE - | Forward PE - | Enterprise Value 55767782 | Price to Sales(TTM) 35.1 |
Enterprise Value 55767782 | Price to Sales(TTM) 35.1 | ||
Enterprise Value to Revenue 35.25 | Enterprise Value to EBITDA -24.11 | Shares Outstanding 33648200 | Shares Floating 28665929 |
Shares Outstanding 33648200 | Shares Floating 28665929 | ||
Percent Insiders 14.81 | Percent Institutions 16.53 |
Upturn AI SWOT
Research Frontiers Incorporated
Company Overview
History and Background
Research Frontiers Incorporated (REFR) was founded in 1965. It develops and licenses suspended particle device (SPD) light-control technology used in automotive, architectural, and other applications. The company primarily generates revenue through royalties from licensees who manufacture and sell SPD-based products.
Core Business Areas
- Licensing: REFR licenses its SPD technology to manufacturers of films, glass, and other products. This is their primary revenue driver.
Leadership and Structure
Joseph M. Harary serves as President & CEO. The company has a small team focused on research, development, licensing, and business development.
Top Products and Market Share
Key Offerings
- SPD-SmartGlass: SPD-SmartGlass is the core technology, allowing dynamic control of light transmission. It's used in automotive sunroofs, windows, and architectural glazing. Market share data is challenging to ascertain due to varying applications, but REFR aims for a significant portion of the high-performance dynamic glazing market. Competitors include Gentex (GNTX) in automotive dimmable glass and other electrochromic glass technologies from various companies.
Market Dynamics
Industry Overview
The market for dynamic glazing and light control technologies is growing, driven by demand for energy efficiency, comfort, and aesthetics. Automotive and architectural applications are key segments. Electrification of vehicles increases demand for SPD-SmartGlass in sunroofs.
Positioning
Research Frontiers is positioned as a technology licensor, relying on its patents and partnerships to penetrate the market. Its advantage lies in the performance and versatility of SPD technology.
Total Addressable Market (TAM)
The TAM for dynamic glazing is estimated to be in the billions of dollars, encompassing automotive, architectural, and aerospace applications. REFR aims to capture a significant portion of this market through licensing.
Upturn SWOT Analysis
Strengths
- Proprietary SPD technology
- Strong patent portfolio
- Licensing business model (low capital intensity)
Weaknesses
- Reliance on licensees for manufacturing and sales
- Small company size limits market reach
- Dependence on specific applications (e.g., automotive sunroofs)
Opportunities
- Growing demand for energy-efficient buildings
- Increasing adoption of dynamic glazing in automotive sector
- Expansion into new applications (e.g., aerospace, displays)
Threats
- Competition from alternative technologies (e.g., electrochromic glass)
- Patent expirations
- Economic downturn affecting construction and automotive sales
Competitors and Market Share
Key Competitors
- GNTX
- VIEW
Competitive Landscape
REFR's strength is its SPD technology, but it faces competition from larger companies with established manufacturing and distribution networks. Gentex is a dominant player in automotive dimmable glass. View, Inc. focuses on electrochromic glass for buildings.
Growth Trajectory and Initiatives
Historical Growth: Growth has been uneven, reflecting the adoption rates of SPD-SmartGlass in various industries. Periods of rapid growth have been followed by slower periods.
Future Projections: Future growth depends on continued adoption in automotive and architectural sectors, as well as expansion into new markets. Analyst estimates vary depending on expectations for licensee sales. Estimates range from 10-20% revenue growth per year for the next 3-5 years.
Recent Initiatives: Recent initiatives include expanding licensing agreements with automotive manufacturers and developing new applications for SPD technology.
Summary
Research Frontiers is a technology licensing company with a promising technology for dynamic glazing. Its strengths lie in its patent portfolio and low-capital licensing model. However, its small size and dependence on licensees create vulnerabilities. Future success hinges on broader market adoption and expansion into new applications.
Similar Stocks
Sources and Disclaimers
Data Sources:
- Company filings (10-K, 10-Q), Press releases, Industry reports, Analyst estimates
Disclaimers:
This analysis is for informational purposes only and should not be considered investment advice. Market share data is estimated and may not be precise.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Research Frontiers Incorporated
Exchange NASDAQ | Headquaters Woodbury, NY, United States | ||
IPO Launch date 1993-12-20 | CEO, President, General Counsel, Corporate Secretary & Director Mr. Joseph M. Harary J.D. | ||
Sector Technology | Industry Electronic Components | Full time employees 6 | Website https://www.smartglass.com |
Full time employees 6 | Website https://www.smartglass.com | ||
Research Frontiers Incorporated, together with other subsidiary, engages in the development and marketing of technology and devices to control the flow of light worldwide. It develops and licenses suspended particle device (SPD-Smart) light-control technology to companies that manufacture and market the SPD-Smart chemical emulsion, light-control film made from the chemical emulsion, the light-control panels made by laminating the film, and electronics to power end-products incorporating the film, as well as lamination services for and the end-products, such as windows, skylights, and sunroofs. The company's SPD-Smart light-control technology is used in various product applications, including windows, sunshades, skylights, and interior partitions for homes and buildings; automotive windows, sunroofs, sun-visors, sunshades, rear-view mirrors, instrument panels, and navigation systems; aircraft windows; museum display panels, and eyewear products; and flat panel displays for electronic products. It serves architectural, automotive, marine, and aerospace and appliance applications. The company was incorporated in 1965 and is headquartered in Woodbury, New York.
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