Research Frontiers (NASDAQ:REFR – Get Free Report) released its quarterly earnings data on Thursday. The technology company reported ($0.02) earnings per share (EPS) for the quarter, FiscalAI reports. The business had revenue of $0.09 million during the quarter. Research Frontiers had a negative net margin of 343.47% and a negative return on equity of 159.20%.
Here are the key takeaways from Research Frontiers’ conference call:
- Gauzy’s financial restructuring sharply reduced SPD emulsion and film production, causing lower royalties, delayed programs, and customer supply constraints. Management expects production to recover but acknowledged that the disruption could weigh on revenue for the next several quarters.
- Management said Gauzy’s restructuring is nearing completion, with court proceedings potentially concluding as soon as September and financing already supporting employee payments and production restarts. Research Frontiers believes Gauzy could emerge leaner and better capitalized, with full-scale production resuming under its preferred Plan A.
- The company said major automotive programs with Mercedes, Ferrari, Cadillac, and McLaren remain intact, while two new aircraft programs were won during the disruption. Customer support and continued program commitments were presented as evidence that SPD technology retains strong market acceptance.
- Research Frontiers added KLIM, a Polaris division, as a licensee to develop SPD motorcycle helmet visors and sports goggles, while also advancing Black SPD and architectural retrofit products. Management described the retrofit opportunity as potentially large and faster to commercialize than automotive programs once film supply normalizes.
- The company remains below Nasdaq’s $1 minimum bid requirement, with an initial compliance period extending to late November, and may need additional capital depending on how its manufacturing contingency plans develop. Management said it may pursue debt or equity financing, particularly if Research Frontiers directly acquires SPD production assets under Plan D.
Research Frontiers Stock Performance
Shares of NASDAQ REFR traded up $0.02 during midday trading on Friday, hitting $0.49. 94,171 shares of the stock traded hands, compared to its average volume of 73,781. The firm has a 50-day moving average of $0.57 and a two-hundred day moving average of $0.83. The firm has a market capitalization of $16.96 million, a P/E ratio of -6.95 and a beta of 0.55. Research Frontiers has a one year low of $0.35 and a one year high of $2.70.
Wall Street Analyst Weigh In
View Our Latest Stock Analysis on Research Frontiers
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of REFR. Virtu Financial LLC purchased a new position in shares of Research Frontiers during the 4th quarter worth $27,000. XTX Topco Ltd bought a new position in Research Frontiers in the 4th quarter worth $28,000. Raymond James Financial Inc. lifted its position in Research Frontiers by 151.5% during the second quarter. Raymond James Financial Inc. now owns 41,337 shares of the technology company’s stock valued at $68,000 after purchasing an additional 24,902 shares in the last quarter. Finally, BlackRock Inc. bought a new stake in Research Frontiers during the second quarter valued at about $277,000. 11.91% of the stock is owned by hedge funds and other institutional investors.
About Research Frontiers
Research Frontiers Inc (NASDAQ:REFR) is a materials science company specializing in the development and licensing of its proprietary SPD-Smart™ light control film. This patented Suspended Particle Device technology enables electronic tinting of glass to provide variable light transmission, glare reduction and solar heat management. SPD-Smart films are designed for integration into architectural windows, automotive sunroofs and skylights, as well as aerospace and specialty applications.
The company’s core business model revolves around licensing its SPD technology and supplying the functional film to manufacturing partners.
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