Research Frontiers Reports First Quarter 2026 Financial Results and Will Host a Conference Call at 4:30 p.m. Today

WOODBURY, N.Y., May 07, 2026 (GLOBE NEWSWIRE) -- Research Frontiers Inc. (Nasdaq: REFR) announced its financial results for its first quarter of 2026. Management will host a conference call today at 4:30 p.m. Eastern Time to discuss its financial and operating results as well as recent developments.

 •Who: Joseph M. Harary, President & CEO •Date/Time: Thursday, May 7, 2026, 4:30 PM ET •Dial-in Information:1-888-334-5785 •Conference Link: https://join.broaddata.com/?id=research-frontiers •Replay: Available on Friday, May 8, 2026 for 90 days at https://smartglass-ir.com/

Joseph M. Harary, President and CEO of Research Frontiers noted:

“First quarter reported revenues compared to the same period last year were affected by the timing of revenue recognition under our license agreements and the non-recurrence of upfront revenue recognized from a new license agreement entered into during the first quarter of 2025.”

“During the quarter, we made progress across multiple strategic initiatives. Automotive projects initiated in North America, Europe and Asia advanced forward in 2026. In addition, SPD-Smart electronically dimmable windows were produced for OEMs and other customers in the aircraft industry during the first and second quarter of 2026. We also advanced our SPD-Smart architectural retrofit initiatives, next-generation black SPD film technology, and additional SPD product and R&D initiatives.”

For more details, please see the Company’s Quarterly Report on Form 10-Q for the fiscal quarter ending March 31, 2026.

About Research Frontiers

Research Frontiers (Nasdaq: REFR) is a publicly traded technology company and the developer of patented SPD-Smart light-control film technology that allows users to instantly, precisely and uniformly control the shading of glass or plastic products, either manually or automatically. Research Frontiers has licensed its smart glass technology to numerous companies that include well known chemical, material science and glass companies. Products using Research Frontiers’ smart glass technology are being used in tens of thousands of cars, aircraft, yachts, trains, homes, offices, museums and other buildings. For more information, please visit our website at www.SmartGlass.com, and on Facebook, Twitter, LinkedIn and YouTube.

Note: From time to time Research Frontiers may issue forward-looking statements which involve risks and uncertainties. This press release contains forward-looking statements. Actual results, especially those reliant on activities by third parties, could differ and are not guaranteed. Any forward-looking statements should be considered accordingly. “SPD-Smart” and “SPD-SmartGlass” are trademarks of Research Frontiers Inc.

CONTACT:
Joseph M. Harary
President and CEO
Research Frontiers Inc.
+1-516-364-1902
[email protected]

RESEARCH FRONTIERS INCORPORATED
Condensed Consolidated Balance Sheets

  March 31, 2026  December 31, 2025   (Unaudited)  (See Note 1) Assets      Current assets:        Cash and cash equivalents $1,279,301  $664,299 Royalties receivable, net of reserves of $1,354,850 in 2026 and 2025, respectively  544,985   408,666 Prepaid expenses and other current assets  192,457   70,969 Total current assets  2,016,743   1,143,934          Fixed assets, net  3,147   3,393 Operating lease ROU assets  1,004,671   1,048,352 Deposits and other assets  56,066   56,066 Total assets $3,080,627  $2,251,745          Liabilities and Shareholders’ Equity                 Current liabilities:        Current portion of operating lease liability $149,471  $146,043 Accounts payable  101,112   132,666 Accrued expenses  65,524   19,168 Total current liabilities  316,107   297,877          Operating lease liability, net of current portion  981,259   1,020,242 Total liabilities  1,297,366   1,318,119          Shareholders’ equity:        Common stock, par value $0.0001 per share; authorized 100,000,000 shares, issued and outstanding 34,867,786 in 2026 and 33,648,221 in 2025  3,487   3,365 Additional paid-in capital  129,926,946   128,552,068 Accumulated deficit  (128,147,172)  (127,621,807)Total shareholders’ equity  1,783,261   933,626          Total liabilities and shareholders’ equity $3,080,627  $2,251,745 

RESEARCH FRONTIERS INCORPORATED
Condensed Consolidated Statements of Operations
(Unaudited)

         Three months ended March 31,   2026  2025        Fee income $136,319  $559,776          Operating expenses  521,382   636,476 Research and development  145,350   162,877 Total expenses  666,732   799,353          Operating loss  (530,413)  (239,577)         Net interest income  5,048   14,533 Other income  -   47,357          Net loss $(525,365) $(177,687)         Basic and diluted net loss per common share $(0.02) $(0.01)         Weighted average number of common shares outstanding  34,159,694   33,648,221 

RESEARCH FRONTIERS INCORPORATED
Condensed Consolidated Statements of Shareholders’ Equity
(Unaudited)

For the three months ended March 31, 2026 and 2025

                  Common Stock  Additional  Accumulated      Shares  Amount  Paid-in Capital  Deficit  Total                 Balance, January 1, 2025  33,648,221  $3,365  $128,177,193  $(125,576,223) $2,604,335 Net loss  -   -   -   (177,687)  (177,687)Balance, March 31, 2025  33,648,221  $3,365  $128,177,193  $(125,753,910) $2,426,648                      Balance, January 1, 2026  33,648,221  $3,365  $128,552,068  $(127,621,807) $933,626                      Issuance of common stock and warrants  1,219,565   122   1,374,878   -   1,375,000 Net loss  -   -   -   (525,365)  (525,365)Balance, March 31, 2026  34,867,786  $3,487  $129,926,946  $(128,147,172) $1,783,261 

RESEARCH FRONTIERS INCORPORATED
Condensed Consolidated Statements of Cash Flows
(Unaudited)

         Three months ended March 31,   2026  2025 Cash flows from operating activities:        Net loss $(525,365) $(177,687)Adjustments to reconcile net loss to net cash used in operating activities:        Depreciation and amortization  313   3,080 ROU asset amortization  43,681   43,244 Change in assets and liabilities:        Royalty receivables  (136,319)  (310,846)Prepaid expenses and other assets  (121,488)  (105,188)Accounts payable and accrued expenses  14,802   (62,255)Operating lease liability  (35,555)  (31,619)Net cash used in operating activities  (759,931)  (641,271)         Cash flows from investing activities:        Purchases of fixed assets  (67)  (110)Net cash used in investing activities  (67)  (110)         Cash flows from financing activities:        Net proceeds from sale of common stock and warrants  1,375,000   - Net cash provided by financing activities  1,375,000   -          Net increase (decrease) in cash and cash equivalents  615,002   (641,381)         Cash and cash equivalents at beginning of period  664,299   1,994,186 Cash and cash equivalents at end of period $1,279,301  $1,352,805