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Research Frontiers Inc: Business Overview, Financials & Competitive Analysis

Research Frontiers develops and licenses suspended particle device (SPD-Smart) light-control technology that enables users to instantly and precisely control the shading of glass/plastic through electronically dimmabl...

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3/ 10Weak

Cyborg Score thesis

Early-stage smart glass technology with promising automotive/aerospace adoption but challenged by recurring losses, capital...

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Industry Smart Materials
4 named competitors
3 recent developments
11 analyst dimensions
Synthesized from analyst-debate stress-testing across 11 dimensions and hundreds of data points. Methodology →
Cyborg Score recalibrated: September 14, 2026
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Research Frontiers Inc Overview

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Research Frontiers develops and licenses suspended particle device (SPD-Smart) light-control technology that enables users to instantly and precisely control the shading of glass/plastic through electronically dimmable windows, skylights, sunroofs, and interior partitions for residential, commercial, automotive, aerospace, and marine applications. The company operates a licensing-based business model rather than manufacturing, collecting fee income and royalties from global licensees.

Strategic Profile

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Key 2025 developments included the Cadillac Celestiq first North American OEM serial production, Ferrari royalty recognition, an architectural retrofit product introduction, and SPD film advances. However, the business depends heavily on a few licensees, with three customers providing approximately 43%, 43%, and 10% of fee income in Q1 2026.

Competitive Landscape

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Research Frontiers has licensed its smart glass technology to approximately 40 companies globally in the chemical, material science, and glass sectors. Competitors in electronically dimmable glass include View Inc. (architectural focus), ChromoGenics (electrochromic windows), and automotive glass suppliers like Saint-Gobain and AGC, though Research Frontiers' SPD-Smart technology uses a distinct particle-suspension approach versus competing electrochromic technologies.

Industry Context

Research Frontiers Inc operates in Smart Materials.

Key facts

Founded: 1965 · Headquarters: Woodbury, NY, US · Revenue: $1.12M · Market cap: $33.1M

What the analysts stress-tested

The top findings that survived the multi-agent debate for Research Frontiers Inc.

  • Automotive/aerospace segment showing momentum: (March 2026) Cadillac Celestiq serial production and Ferrari royalties ramping; (2025) aircraft adoption with Airbus, Honda Aircraft, Textron Beechcraft expanding SPD-Smart electronically dimmable windows
  • Revenue model deteriorating: (Q1 2026) Fee income collapsed 76% year-over-year to $136K due to non-recurring upfront fees from 2025 license agreement; accumulated deficit reached ~$128.1M
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Recent developments

Material events tracked by the AskCyborg corpus.

  • May 2026Q1 2026 earnings released showing $136K fee income, net loss $525K, emergency $1.375M capital raise
  • March 2026Reported 2025 results featuring Cadillac Celestiq OEM serial production launch in North America and Ferrari royalty recognition
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Named competitors

Pulled from the analyst-debate framework. Click any competitor to see their Cyborg Score.

View Inc.Electrochromic smart windows for commercial buildings→ChromoGenicsElectrochromic smart glass windows→AGCGlass and automotive smart glass products→Saint-GobainGlass and building materials including smart glass solutions→

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Industry context

Research Frontiers Inc operates in Smart Materials. See how the rest of the sector scores on the Cyborg framework.

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Frequently asked questions

What does Research Frontiers Inc do?+
Research Frontiers develops and licenses suspended particle device (SPD-Smart) light-control technology that enables users to instantly and precisely control the shading of glass/plastic through electronically dimmabl...
What is Research Frontiers Inc's Cyborg Score?+
Research Frontiers Inc has a Cyborg Score of 3/10 (Weak). The score synthesizes business model, financials, leadership, competitive position, technology, marketing, and ESG dimensions across hundreds of data points.
Who are Research Frontiers Inc's main competitors?+
Named competitors include View Inc., ChromoGenics, AGC, Saint-Gobain. The full competitive landscape is in the AskCyborg report.
How can I get the full Research Frontiers Inc research report?+
Get the report plus analyst-debate audio at askcyborg.com -- no credit card required for preview access. Pro adds saved-company audio playlists and monitoring.
How current is the Research Frontiers Inc research?+
The Cyborg Score is recalibrated weekly. Recent developments are tracked continuously and surfaced in every report.

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