Research Frontiers Incorporated / Estimates

Fiscal Year	Revenue	Net income	Net margin	Free cash flow	FCF margin
2024	€1.15M +46.8%	-€1.13M -31.3%	-98.2% +1.1 pp	-€678.21K -65.7%	-58.9% +1.9 pp
2023	€783.66K +68.5%	-€1.64M -29.7%	-209.8% +2.9 pp	-€1.98M +5.1%	-252.1% +1.5 pp
2022	€464.97K -57.3%	-€2.34M +46.4%	-502.8% -3.6 pp	-€1.88M +21.0%	-404.2% -2.6 pp
2021	€1.09M +52.5%	-€1.60M -11.9%	-146.8% +1.1 pp	-€1.55M -17.9%	-142.8% +1.2 pp
2020	€713.75K -47.0%	-€1.81M -52.9%	-254.0% +0.32 pp	-€1.89M +8.9%	-265.1% -1.4 pp
2019	€1.35M +5.1%	-€3.85M +66.4%	-285.7% -1.1 pp	-€1.74M -2.0%	-129.0% +0.094 pp
2018	€1.28M -1.4%	-€2.31M +11.3%	-180.4% -0.20 pp	-€1.77M +40.7%	-138.3% -0.41 pp
2017	€1.30M +22.1%	-€2.08M -43.0%	-160.0% +1.8 pp	-€1.26M -63.3%	-97.0% +2.3 pp
2016	€1.06M -38.4%	-€3.65M -1.0%	-342.9% -1.3 pp	-€3.44M +22.3%	-323.1% -1.6 pp
2015	€1.73M +25.6%	-€3.69M -3.0%	-213.2% +0.63 pp	-€2.81M +21.1%	-162.6% +0.060 pp
2014	€1.38M -26.0%	-€3.80M -24.5%	-276.1% -0.056 pp	-€2.32M -15.6%	-168.6% -0.21 pp
2013	€1.86M +10.4%	-€5.04M +90.8%	-270.4% -1.1 pp	-€2.75M +19.7%	-147.8% -0.12 pp
2012	€1.69M +131.4%	-€2.64M -25.9%	-156.5% +3.3 pp	-€2.30M -20.1%	-136.3% +2.6 pp
2011	€728.86K +10.2%	-€3.56M +6.7%	-488.7% +0.16 pp	-€2.88M +4.6%	-394.8% +0.21 pp
2010	€661.26K +8.1%	-€3.34M -3.2%	-504.9% +0.59 pp	-€2.75M -13.9%	-415.8% +1.1 pp
2009	€611.54K -57.7%	-€3.45M +54.3%	-563.9% -4.1 pp	-€3.20M +58.6%	-522.5% -3.8 pp
2008	€1.45M +317.5%	-€2.24M -65.7%	-154.5% +17 pp	-€2.01M -32.3%	-139.2% +7.2 pp
2007	€346.65K +147.4%	-€6.52M +129.0%	-1,880.2% +1.5 pp	-€2.98M +6.7%	-858.7% +11 pp
2006	€140.12K +17.2%	-€2.85M -11.8%	-2,031.3% +6.7 pp	-€2.79M -16.7%	-1,990.0% +8.1 pp
2005	€119.53K -31.1%	-€3.23M -12.1%	-2,701.1% -5.8 pp	-€3.35M +9.7%	-2,799.7% -10 pp
2004	€173.45K -22.0%	-€3.67M -10.7%	-2,117.4% -2.7 pp	-€3.05M -13.2%	-1,758.9% -1.8 pp
2003	€222.44K +18.7%	-€4.11M +20.8%	-1,848.4% -0.32 pp	-€3.51M +12.3%	-1,579.4% +0.90 pp
2002	€187.40K +53.2%	-€3.40M -13.0%	-1,816.4% +14 pp	-€3.13M -25.7%	-1,669.0% +18 pp
2001	€122.34K -57.4%	-€3.91M -40.0%	-3,197.6% -9.3 pp	-€4.21M +58.7%	-3,442.1% -25 pp
2000	€287.46K +66.8%	-€6.52M +104.5%	-2,268.2% -4.2 pp	-€2.65M +23.2%	-923.2% +3.3 pp
1999	€172.31K +100.0%	-€3.19M +42.3%	-1,850.0% +7.5 pp	-€2.15M -3.8%	-1,250.0% +14 pp
1998	€86.15K +0.0%	-€2.24M -18.8%	-2,600.0% +6.0 pp	-€2.24M -750.0%	-2,600.0% -30 pp
1997	€86.15K +0.0%	-€2.76M +28.0%	-3,200.0% -7.0 pp	€344.62K -109.5%	400.0% +46 pp
1996	€86.15K +0.0%	-€2.15M -13.8%	-2,500.0% +4.0 pp	-€3.62M +133.3%	-4,200.0% -24 pp
1995	€86.15K -83.3%	-€2.50M +0.0%	-2,900.0% -24 pp	-€1.55M -58.1%	-1,800.0% -11 pp
1994	€516.93K +20.0%	-€2.50M +61.1%	-483.3% -1.2 pp	-€3.70M +168.8%	-716.7% -4.0 pp
1993	€430.77K +0.0%	-€1.55M +28.6%	-360.0% -0.80 pp	-€1.38M +14.3%	-320.0% -0.40 pp
1992	€430.77K +25.0%	-€1.21M +40.0%	-280.0% -0.30 pp	-€1.21M +27.3%	-280.0% -0.050 pp
1991	€344.62K -20.0%	-€861.55K +42.9%	-250.0% -1.1 pp	-€947.70K +450.0%	-275.0% -2.4 pp
1990	€430.77K +0.0%	-€603.08K -12.5%	-140.0% +0.20 pp	-€172.31K -166.7%	-40.0% -1.0 pp
1989	€430.77K +66.7%	-€689.24K +0.0%	-160.0% +1.1 pp	€258.46K -137.5%	60.0% +3.3 pp
1988	€258.46K	-€689.24K	-266.7%	-€689.24K	-266.7%