Research Frontiers Incorporated (REFR) Earnings History
Net Loss38 years of earnings data (1988–2025) · Currently unprofitable on a TTM basis
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Research Frontiers Incorporated (REFR) Earnings Overview
As of June 22, 2026, Research Frontiers Incorporated (REFR) reported trailing twelve-month net income of -$2M, reflecting -55.5% year-over-year growth. The company earned $-0.07 per diluted share over the past four quarters, with a net profit margin of -182.4%.
Looking at the long-term picture, REFR's historical earnings data spans multiple years. The company achieved its highest annual net income of -$700,000 in fiscal 1990.
Research Frontiers Incorporated is currently reporting a net loss, though operating performance should be evaluated in the context of growth investments and industry dynamics View revenue history →
Compared to peers including VUZI (-$31M net income, -513.9% margin), MVIS (-$91M net income, -7862.7% margin), KOSS (-$1M net income, -6.9% margin), REFR has outperformed on profitability metrics. Compare REFR vs VUZI →
REFR Earnings vs Peers
Earnings metrics vs comparable public companies
REFR Historical Earnings Data (1988–2025)
38 years| Fiscal Year | Net Income | YoY % | Operating Income | EPS (Diluted) | Net Margin | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | -$2M | -56.0% | -$2M | $-0.06 | -182.4% | -190.2% |
| 2024 | -$1M | +31.3% | -$1M | $-0.04 | -98.2% | -108.0% |
| 2023 | -$2M | +28.5% | -$2M | $-0.06 | -209.8% | -223.5% |
| 2022 | -$3M | -44.6% | -$3M | $-0.08 | -494.6% | -486.4% |
| 2021 | -$2M | +21.1% | -$2M | $-0.06 | -146.2% | -145.6% |
| 2020 | -$2M | +38.5% | -$3M | $-0.07 | -282.6% | -311.1% |
| 2019 | -$4M | -41.8% | -$3M | $-0.15 | -243.5% | -201.4% |
| 2018 | -$3M | -11.3% | -$2M | $-0.10 | -180.4% | -162.4% |
| 2017 | -$2M | +43.0% | -$2M | $-0.10 | -160.0% | -160.3% |
| 2016 | -$4M | +1.0% | -$4M | $-0.18 | -342.9% | -345.3% |
| 2015 | -$4M | +3.0% | -$4M | $-0.18 | -213.2% | -215.4% |
| 2014 | -$4M | +24.5% | -$4M | $-0.19 | -276.1% | -278.3% |
| 2013 | -$6M | -90.8% | -$6M | $-0.25 | -270.4% | -272.2% |
| 2012 | -$3M | +25.9% | -$4M | $-0.15 | -156.5% | -189.6% |
| 2011 | -$4M | -6.7% | -$4M | $-0.22 | -488.7% | -492.1% |
| 2010 | -$4M | +3.2% | -$4M | $-0.22 | -504.9% | -506.9% |
| 2009 | -$4M | -54.3% | -$4M | $-0.25 | -563.9% | -566.8% |
| 2008 | -$3M | +65.7% | -$3M | $-0.17 | -154.5% | -163.7% |
| 2007 | -$8M | -129.0% | -$8M | $-0.50 | -1880.2% | -1963.7% |
| 2006 | -$3M | +11.8% | -$3M | $-0.24 | -2031.3% | -2085.4% |
| 2005 | -$4M | +12.1% | -$4M | $-0.27 | -2701.1% | -2794.6% |
| 2004 | -$4M | +10.7% | -$4M | $-0.33 | -2117.4% | -2126.1% |
| 2003 | -$5M | -20.8% | -$5M | $-0.38 | -1848.4% | -1860.3% |
| 2002 | -$4M | +13.0% | -$4M | $-0.33 | -1816.4% | -1964.3% |
| 2001 | -$5M | +40.0% | -$5M | $-0.38 | -3197.6% | -3687.8% |
| 2000 | -$8M | -104.5% | -$5M | $-0.63 | -2268.2% | -1592.2% |
| 1999 | -$4M | -42.3% | -$4M | $-0.33 | -1850.0% | -1850.0% |
| 1998 | -$3M | +18.8% | -$3M | $-0.23 | -2600.0% | -3100.0% |
| 1997 | -$3M | -28.0% | -$4M | $-0.31 | -3200.0% | -3600.0% |
| 1996 | -$3M | +13.8% | -$3M | $-0.25 | -2500.0% | -2800.0% |
| 1995 | -$3M | +0.0% | -$3M | $-0.31 | -2900.0% | -2600.0% |
| 1994 | -$3M | -61.1% | -$2M | $-0.33 | -483.3% | -350.0% |
| 1993 | -$2M | -28.6% | -$2M | $-0.24 | -360.0% | -360.0% |
| 1992 | -$1M | -40.0% | -$1M | $-0.19 | -280.0% | -260.0% |
| 1991 | -$1M | -42.9% | -$1M | $-0.20 | -250.0% | -250.0% |
| 1990 | $-700,000 | +12.5% | $-700,000 | $-0.17 | -140.0% | -140.0% |
| 1989 | $-800,000 | +0.0% | $-800,000 | $-0.18 | -160.0% | -160.0% |
| 1988 | $-800,000 | - | $-700,000 | $-0.17 | -266.7% | -233.3% |
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Intrinsic Valuation
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Historical Returns
38+ years return with dividends reinvested.
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REFR — Frequently Asked Questions
Quick answers to the most common questions about buying REFR stock.
What is REFR earnings per share (EPS)?
REFR trailing twelve-month (TTM) diluted EPS is $-0.07, reflecting -55.5% year-over-year growth. The 5-year EPS CAGR is N/A. Complete EPS history from 1988 to 2025 is available in the table on this page.
What is Research Frontiers Incorporated's net income?
Research Frontiers Incorporated (REFR) trailing twelve-month net income is $-2M as of 2025. Earnings declined -55.5% year-over-year.
Is REFR profitable?
REFR is not currently profitable on a TTM basis, reporting a net loss of $-2M. Net margin is -182.4%. Investors should monitor for a return to profitability.
What is REFR's earnings growth rate?
REFR compound annual EPS growth rates (CAGR): 1-Year: N/A, 3-Year: N/A, 5-Year: N/A, 10-Year: N/A. These figures measure the annualised rate of diluted EPS growth over each period, based on data from 1988 to 2025.
What are REFR's profit margins?
Research Frontiers Incorporated net profit margin is -182.4%, operating margin is -190.2%, and gross margin is +83.4%. Below-average margins reflect competitive or cost pressures. Return on Equity is -115.6%.
Is REFR growing earnings?
REFR earnings are declining — EPS fell -55.5% year-over-year. TTM net income dropped to $-2M. This contrasts with the 5-year CAGR of N/A.
What was REFR's best earnings year?
Research Frontiers Incorporated's highest annual net income on record is $-700000.00, achieved in fiscal year 1990. Earnings history on this page spans 1988 to 2025 and includes all annual and quarterly figures.
What were REFR's earnings last quarter?
REFR's most recent reported quarter was Q1 2026. Net income was $-525365.00 with diluted EPS of $-0.02. For a full breakdown of all quarters, see the quarterly earnings table on this page.