REFR · XBRL financial data

Research Frontiers financial statements, every fiscal year

The same tables from 6 filings, lined up. Matched by XBRL tag: renamed lines keep their history.

How these numbers work

Every number comes from the company's XBRL financial data filed with the SEC, and each one links to its filing.
Lines are matched by XBRL tag, so a line renamed between filings keeps its history.
* marks a quarter worked out from the filing totals: the 10-K year minus the first three quarters, or a year-to-date total minus the earlier one. Fourth-quarter earnings per share is fourth-quarter net income over the fourth-quarter weighted shares.
0 means a filing states zero; a dash (—) means no filing states that number.
“year only” means the 10-K gives the full year but not the quarters needed to work out the fourth. A worked-out quarter of revenue, cost of revenue or operating cash flow more than twice the company's largest quarter of the two years before is shown this way too.
Gross profit is shown as the company reports it; a worked-out quarter must equal revenue less cost of revenue for that quarter, or it is a dash.
Operating income can be above gross profit when the company books other operating income between the two, shown on its own line.
Shares outstanding come from each filing's cover page, as of the date printed there.
Quarters are fiscal: Q2 FY27 is the second quarter of the company's fiscal 2027.

Income statement

Fiscal years (REFR's year ends in late December)

In thousands of dollars	FY 2020Dec 31, 2020	FY 2021Dec 31, 2021	FY 2022Dec 31, 2022	FY 2023Dec 31, 2023	FY 2024Dec 31, 2024	FY 2025Dec 31, 2025
Revenue from contracts with customers	828	1,263	540	910	1,336	1,121
Research and development	628	580	609	583	570	609
Total operating expenses	3,406	3,102	3,165	2,943	2,777	3,253
Operating income (loss)	(2,577)	(1,839)	(2,625)	(2,033)	(1,442)	(2,132)
Interest income	34	—	—	—	—	—
Net income (loss)	(2,341)	(1,846)	(2,669)	(1,908)	(1,311)	(2,046)
Earnings per share, basic USD per share	—	(0.06)	(0.08)	(0.06)	(0.04)	(0.06)
Earnings per share, diluted USD per share	—	—	(0.08)	(0.06)	(0.04)	(0.06)
Weighted average shares, basic thousands of shares	—	31,647	32,070	33,454	33,521	33,648
Weighted average shares, diluted thousands of shares	—	—	32,070	33,454	33,521	33,648

Fiscal years (REFR's year ends in late December)

In thousands of dollars	FY 2020Dec 31, 2020	FY 2021Dec 31, 2021	FY 2022Dec 31, 2022	FY 2023Dec 31, 2023	FY 2024Dec 31, 2024	FY 2025Dec 31, 2025
Cash and cash equivalents	4,773	270	4,231	2,476	1,994	664
Marketable securities	—	2,755	—	—	—	—
Accounts receivable	—	—	590	1,003	658	409
Prepaid and other current assets	57	93	101	97	93	71
Total current assets	5,428	3,950	4,921	3,576	2,746	1,144
Property and equipment, net	122	93	65	40	15	3
Right-of-use asset	616	470	324	179	1,223	1,048
Total assets	6,199	4,546	5,366	3,851	4,040	2,252
Accounts payable	33	66	71	51	86	133
Accrued liabilities	26	49	34	14	53	19
Total current liabilities	226	298	302	277	269	298
Lease liability, non-current	646	464	268	55	1,166	1,020
Total liabilities	872	762	570	333	1,435	1,318
Accumulated deficit	(117,841)	(119,687)	(122,356)	(124,265)	(125,576)	(127,622)
Total stockholders' equity	5,327	3,784	4,797	3,518	2,604	934
Total liabilities and equity	6,199	4,546	5,366	3,851	4,040	2,252
Common shares outstanding (cover page) thousands of shares	31,650	31,650	33,509	33,509	33,648	34,648

Fiscal years (REFR's year ends in late December)

In thousands of dollars	FY 2020Dec 31, 2020	FY 2021Dec 31, 2021	FY 2022Dec 31, 2022	FY 2023Dec 31, 2023	FY 2024Dec 31, 2024	FY 2025Dec 31, 2025
Net income (loss)	(2,341)	(1,846)	(2,669)	(1,908)	(1,311)	(2,046)
Stock-based compensation	328	217	232	145	89	375
Depreciation and amortization	67	—	—	15	15	11
Net cash from operating activities	(2,253)	(1,804)	(2,183)	(2,295)	(789)	(1,329)
Purchases of property and equipment	57	1	1	2	2	1
Net cash from investing activities	(53)	(2,785)	2,694	56	(2)	(1)
Net cash from financing activities	486	86	3,450	485	309	—
Net change in cash	(1,819)	(4,503)	3,961	(1,755)	(482)	(1,330)

SIC 6794 and related industry codes, similar size. Each row is the latest quarter reported.

How peers are chosen

SIC 6794 and related industry codes with public float (or, where float is missing, quarterly revenue) between 0.2x and 5x the company's.
Each row is the latest quarter the company has reported, named in the Quarter column; when that filing is a 10-K, it is the fourth quarter, never the full year.
Runway shows only for companies burning cash with under $10B of public float.
* marks a quarter worked out from the filing totals: for a 10-Q, the year-to-date total less the earlier one.
A cell reading “not reported” means the filings give no figure for that quarter alone.

Company	Cash ($K)	Revenue, quarter ($K)	Operating cash flow, quarter ($K)	Shares outstanding	Runway	Quarter
Research Frontiers	1,088	86	(191)*	34.9M	5.7 quarters	Q2 FY26 10-QJun 30, 2026
Manhattan Bridge Capital	168	2,054	1,335*	11.3M	—	Q3 FY26 10-QSep 30, 2026
Clipper Realty	37,702	not reported	14,431*	16.2M	—	Q2 FY26 10-QJun 30, 2026
Transcontinental Realty Investors	10,703	12,866	(2,429)*	8.8M	34.6 quarters	Q2 FY26 10-QJun 30, 2026
Bluerock Homes Trust	172,107	19,327	2,775*	not reported	—	Q2 FY26 10-QJun 30, 2026
Sachem Capital	28,819	not reported	(3,588)*	48.0M	8.3 quarters	Q2 FY26 10-QJun 30, 2026
Global Self Storage	7,514	3,214	1,214*	11.4M	—	Q2 FY26 10-QJun 30, 2026
VirnetX Holding	13,090	0	(3,320)*	4.2M	4.2 quarters	Q2 FY26 10-QJun 30, 2026
Procaccianti Hotel REIT	10,158	not reported	2,093*	not reported	—	Q2 FY26 10-QJun 30, 2026

Not investment advice. Not affiliated with the U.S. SEC.