Research Frontiers Incorporated (REFR)

Research Frontiers Income Statement

Financials in millions USD. Fiscal year is January - December.

Year	2023	2022	2021	2020	2019
Revenue	0.91	0.54	1.26	0.83	1.56
Revenue Growth (YoY)	68.54%	-57.27%	52.46%	-47.03%	5.06%
Gross Profit	0.91	0.54	1.26	0.83	1.56
Selling, General & Admin	2.36	2.56	2.52	2.78	3.68
Research & Development	0.58	0.61	0.58	0.63	1.04
Other Operating Expenses	0	0	0	0	0.05
Operating Expenses	2.94	3.16	3.1	3.41	4.76
Operating Income	-2.03	-2.63	-1.84	-2.58	-3.2
Other Expense / Income	-0.12	0.04	0.01	-0.24	0.61
Pretax Income	-1.91	-2.67	-1.85	-2.34	-3.81
Net Income	-1.91	-2.67	-1.85	-2.34	-3.81
Shares Outstanding (Basic)	33	32	32	31	30
Shares Outstanding (Diluted)	33	32	32	31	30
Shares Change	4.31%	1.34%	0.50%	4.92%	15.62%
EPS (Basic)	-0.06	-0.08	-0.06	-0.07	-0.13
EPS (Diluted)	-0.06	-0.08	-0.06	-0.07	-0.13
Free Cash Flow	-2.3	-2.18	-1.81	-2.31	-2.15
Free Cash Flow Per Share	-0.07	-0.07	-0.06	-0.07	-0.07
Gross Margin	100.00%	100.00%	100.00%	100.00%	100.00%
Operating Margin	-223.54%	-486.42%	-145.59%	-311.11%	-204.60%
Profit Margin	-209.80%	-494.61%	-146.18%	-282.56%	-243.54%
Free Cash Flow Margin	-252.49%	-404.68%	-142.94%	-278.29%	-137.34%
EBITDA	-1.74	-2.49	-1.67	-2.27	-3.61
EBITDA Margin	-190.88%	-462.16%	-132.21%	-274.46%	-231.05%
Depreciation & Amortization	0.17	0.18	0.18	0.07	0.2
EBIT	-1.91	-2.67	-1.85	-2.34	-3.81
EBIT Margin	-209.80%	-494.61%	-146.18%	-282.56%	-243.54%

Source: Financials are provided by Nasdaq Data Link and sourced from the audited annual (10-K) and quarterly (10-Q) reports submitted to the Securities and Exchange Commission (SEC).