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
Info@SmartGlass.com

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

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