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REFR 
Research Frontiers Incorporated (REFR)
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Upturn Advisory Summary
01/07/2026: REFR (1-star) is currently NOT-A-BUY. Pass it for now.
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 16.41% | Avg. Invested days 38 | Today’s Advisory PASS |
Upturn Star Rating | Upturn Advisory Performance  4.0 | Stock Returns Performance  2.0 |
| Profits based on simulation | Last Close 01/07/2026 |
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 was founded in 1965. It is the developer of SPD-SmartGlass technology, a light-control technology that can be electronically tuned to instantly change its light transmission properties from clear to dark. The company licenses its technology to manufacturers for use in various applications, including automotive, aerospace, architectural, and consumer electronics.
Core Business Areas
- Technology Licensing: Research Frontiers' primary business is licensing its patented SPD-SmartGlass technology to third-party manufacturers. These licensees then produce and sell products incorporating the technology.
- Technology Development and Support: The company continues to invest in research and development to enhance its SPD-SmartGlass technology and provide technical support to its licensees.
Leadership and Structure
Research Frontiers Incorporated is a publicly traded company led by a Board of Directors and an executive management team. Specific details on the current leadership team and organizational structure can be found in their investor relations filings.
Top Products and Market Share
Key Offerings
- SPD-SmartGlass Technology: This is the core offering, a light-control technology that allows for instant electronic dimming. It is used in various applications like smart windows for buildings, sunroofs and interior shades for vehicles, and displays. Competitors in the broader smart glass market include companies offering electrochromic, thermochromic, and liquid crystal technologies. Specific market share data for Research Frontiers' technology is not publicly available as it is a licensor, not a direct manufacturer of end products.
Market Dynamics
Industry Overview
Research Frontiers operates within the advanced materials and smart glass industries. The demand for smart glass is driven by increasing interest in energy efficiency, comfort, and advanced features in buildings and vehicles. The market is evolving with advancements in materials science and increasing adoption of smart technologies.
Positioning
Research Frontiers is positioned as a technology licensor, providing a proprietary and patented solution. Its competitive advantage lies in its unique SPD (Suspended Particle Device) technology, which offers instant dimming capabilities. The company's focus on licensing allows it to reach a broad market through its manufacturing partners.
Total Addressable Market (TAM)
The TAM for smart glass is substantial, encompassing automotive, architectural, and consumer electronics sectors, with projected growth into billions of dollars. Research Frontiers, through its licensing model, aims to capture a portion of this market by enabling its partners to develop and sell innovative products.
Upturn SWOT Analysis
Strengths
- Proprietary and patented SPD-SmartGlass technology
- Established track record and industry partnerships
- Unique instant dimming capability
- Versatile technology applicable across multiple industries
Weaknesses
- Reliance on third-party manufacturers for product realization
- Potentially high manufacturing costs for SPD-SmartGlass
- Limited direct market presence and brand recognition for end-users
- Dependence on successful market adoption by licensees
Opportunities
- Growing demand for energy-efficient buildings and vehicles
- Expansion into new markets and applications (e.g., aerospace, medical)
- Advancements in display technology and integration
- Increasing consumer demand for smart home and automotive features
Threats
- Competition from alternative smart glass technologies
- Technological obsolescence
- Economic downturns affecting discretionary spending on advanced features
- Challenges in scaling manufacturing and reducing costs
Competitors and Market Share
Key Competitors
- Saint-Gobain S.A. (SGOB.PA)
- AGC Inc. (5201.T)
- Nippon Sheet Glass Co., Ltd. (5202.T)
- View, Inc. (VIEW)
Competitive Landscape
Research Frontiers competes in the broader smart glass market. Its SPD technology offers distinct advantages in speed of transition. However, competitors may have larger manufacturing capabilities, broader product portfolios, and established distribution channels. The company's success hinges on its ability to maintain its technological edge and foster strong partnerships.
Growth Trajectory and Initiatives
Historical Growth: Historical growth for Research Frontiers has been tied to the development and commercialization of its SPD-SmartGlass technology. Growth has been characterized by securing new licensees and expanding the applications of its technology.
Future Projections: Future growth projections are dependent on the continued adoption of SPD-SmartGlass by major manufacturers across automotive, architectural, and consumer sectors. Analyst estimates, if available, would be based on market trends, competitive landscape, and the company's ability to forge new licensing partnerships.
Recent Initiatives: Recent initiatives likely involve efforts to expand into new geographic markets, develop next-generation SPD-SmartGlass technology, and secure strategic partnerships with key industry players to drive broader adoption.
Summary
Research Frontiers Incorporated is a specialized technology licensing company with a proprietary SPD-SmartGlass technology. Its strength lies in its unique instant dimming capabilities, applicable across various industries. However, its reliance on licensees for market penetration and potential manufacturing cost challenges are key areas to monitor. The company's future success is tied to the growing demand for smart glass solutions and its ability to adapt to evolving market needs and technological advancements.
Similar Stocks
Sources and Disclaimers
Data Sources:
- Company investor relations websites and filings (e.g., SEC filings)
- Financial data aggregators
- Industry research reports
Disclaimers:
This analysis is based on publicly available information and may not be exhaustive. Financial data and market share information can change rapidly. Investors should conduct their own due diligence before making investment decisions.
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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