REFR Research Frontiers (REFR) Insider Trading, Ownership & Congress Trades
Services · Patent owners & lessors · CIK 0000793524
SEC filings
Insider buyers, 180 days
0
House members buying, 1 year
0
STOCK Act, US House only, disclosed up to 45 days after the trade
Funds added, last quarter
10
13F, latest reported quarter
Research Frontiers insider trades (Form 4)
Form 4 buys and sells (codes P and S). Grants, option exercises
and conversions excluded.
No insider purchases or sales are on record for RESEARCH FRONTIERS INC in the period covered. Source: SEC Form 4 filings, as of 2026-10-28.
Insider
Filed
Shares
Value
Since filing
Context
- First Form 4 purchase or sale (code P or S) here by this insider on our record.
- The trade is 1.2% of the 164,923 shares held after it.
- 1 other insider bought within 30 days.
- 10 funds added in the 13F quarter to Jun 30, 2026.
Insider activity: Director Kaganowicz Alexander bought about $3.9K of REFR on Jun 14, 2024; 1 other insider bought within 30 days and 10 funds added in the latest 13F quarter.Context
- 9 earlier Form 4 trades (code P or S) here by this insider (9 buys), the last on Feb 7, 2024.
- -6.3% median (+1.6% mean) 90-day return after 8 previous buys.
- The trade is 12.7% of the 33,926 shares held after it.
- 1 other insider bought within 30 days.
- 10 funds added in the 13F quarter to Jun 30, 2026.
Insider activity: Director Daigle Darryl bought about $7.5K of REFR on Jun 7, 2024; 1 other insider bought within 30 days and 10 funds added in the latest 13F quarter.Context
- 8 earlier Form 4 trades (code P or S) here by this insider (8 buys), the last on Dec 11, 2023.
- -7.8% median (-6.8% mean) 90-day return after 7 previous buys.
- The trade is 23.4% of the 4,269 shares held after it.
- No other insider bought within 30 days.
- 10 funds added in the 13F quarter to Jun 30, 2026.
Insider activity: Director Daigle Darryl bought about $1.0K of REFR on Feb 7, 2024; 10 funds added in the latest 13F quarter.Context
- 7 earlier Form 4 trades (code P or S) here by this insider (7 buys), the last on Oct 2, 2023.
- -14.3% median (-14.9% mean) 90-day return after 6 previous buys.
- The trade is 3.6% of the 217,192 shares held after it.
- No other insider bought within 30 days.
- 10 funds added in the 13F quarter to Jun 30, 2026.
Insider activity: Director Daigle Darryl bought about $7.5K of REFR on Dec 11, 2023, the largest insider purchase at the company on our record; 10 funds added in the latest 13F quarter.Context
- 6 earlier Form 4 trades (code P or S) here by this insider (6 buys), the last on Sep 13, 2023.
- -20.7% median (-17.3% mean) 90-day return after 5 previous buys.
- The trade is 15.3% of the 3,269 shares held after it.
- No other insider bought within 30 days.
- 10 funds added in the 13F quarter to Jun 30, 2026.
Insider activity: Director Daigle Darryl bought about $525 of REFR on Oct 2, 2023; 10 funds added in the latest 13F quarter.11 transactions on record
Since filing: total return from the first close after the filing to the latest close, dividend-adjusted. Not a forecast.
Context lines are counts over the filings above and returns from our own price history, never a price level. Not investment advice.
Seven facts, ranked against the sector ·
Rank is not a forecast
Insiders
no insider buys or sells on file
Congress
no House purchase disclosed in the last 12 months
Funds
10 funds bought in last quarter
below 75% of Services
Revenue
-16.0% year over year
below 86% of Services
Margin
-182.4% net margin
below 95% of Services
Buybacks
no share repurchases reported
Short interest
2.2% of the float short (float per yahoo 2026-10-27) · 3.9 days to cover · settled 2026-10-15
below 58% of Services
What changed in the last 30 days
Nothing new filed in the last 30 days
Watch REFR
A free account keeps a watchlist and can send one email a day when insiders, funds or Congress file on the names in it. No password and no card.
The year, with the filings on it
Total return over 12 months. Each marker is a filing; hover or tap one for the detail.
-72.6%12M
Indexed to 100, dividend-adjusted, not a price chart.
When a name files heavily, the largest trades are drawn first.
Who owns REFR: institutional holders (13F)
13F holdings, latest reported quarter
886,602 sh
$461.0K
580,654 sh
$301.9K
532,542 sh
$276.9K
496,422 sh
$258.1K
305,847 sh
$159.1K
Congress trades in REFR
No Congress trades reported
No House member has disclosed a trade in this stock. See what Congress is buying.
Activist and 5% holders (13D/13G)
No 5%+ ownership filings
Nobody has filed for crossing 5%. That is a fact, not missing data.
REFR planned insider sales (Form 144)
No planned-sale notices
No insider has filed to sell. Watch this after a run-up.
REFR mutual fund holders (N-PORT)
Funds ranked by the share of their own portfolio in this stock (N-PORT).
Fidelity Extended Market Index Fund
$109.3K position · as of 2026-05-31
0.0%
VANGUARD EXTENDED MARKET INDEX FUND
$147.0K position · as of 2026-06-30
0.0%
Fidelity Total Market Index Fund
$42.9K position · as of 2026-05-31
0.0%
Fidelity Nasdaq Composite Index Fund
$8.4K position · as of 2026-05-31
0.0%
Fidelity Series Total Market Index Fund
$30.1K position · as of 2026-05-31
0.0%
VANGUARD BALANCED INDEX FUND
$4.9K position · as of 2026-06-30
0.0%
SEC N-PORT, monthly, about 60 days late · funds ≥ $10M ·
% is the share of the fund's own portfolio
Live price
Daily candles from TradingView, under their licence. No filings marked.
Why this name is on the desk
The complete filing record, in one place.
The record shows 10 funds added last quarter. Each figure is a federal filing, dated the day it went public.
REFR financials
Revenue growth
-16.0%
XBRL, annual
Net margin
-182.4%
Ratios from the company's XBRL filings, latest filings
Revenue, TTM
$654.2K
four quarters, 2025-07-01 to 2026-06-30
Revenue, TTM REFR
| FY Dec 2025 | $1.1M |
| FY Dec 2024 | $1.3M |
| FY Dec 2023 | $909.6K |
| FY Dec 2022 | $539.7K |
| FY Dec 2021 | $1.3M |
| Jun 2026 | $86.3K |
| Mar 2026 | $136.3K |
| Dec 2025 | $72.1K |
| Sep 2025 | $359.4K |
| Jun 2025 | $129.9K |
| Mar 2025 | $559.8K |
| Dec 2024 | $178.2K |
| Sep 2024 | $354.4K |
At each fiscal year end
Single quarter
Net margin, TTM
n/a
revenue under $1M, the ratio says nothing
Net margin, TTM REFR
| FY Dec 2025 | -182.4% |
| FY Dec 2024 | -98.2% |
| FY Dec 2023 | n/a |
| FY Dec 2022 | n/a |
| FY Dec 2021 | -146.2% |
| Jun 2026 | n/a |
| Mar 2026 | n/a |
| Dec 2025 | n/a |
| Sep 2025 | -83.0% |
| Jun 2025 | n/a |
| Mar 2025 | -31.7% |
| Dec 2024 | n/a |
| Sep 2024 | -47.1% |
At each fiscal year end
Single quarter
Free cash flow, TTM
-$1.6M
operating cash flow minus capex, 2025-07-01 to 2026-06-30
Free cash flow, TTM REFR
| FY Dec 2025 | -$1.3M |
| FY Dec 2024 | -$790.4K |
| FY Dec 2023 | -$2.3M |
| FY Dec 2022 | -$2.2M |
| FY Dec 2021 | -$1.8M |
| Jun 2026 | -$191.3K |
| Mar 2026 | -$760.0K |
| Dec 2025 | -$466.1K |
| Sep 2025 | -$143.9K |
| Jun 2025 | -$78.5K |
| Mar 2025 | -$641.4K |
| Dec 2024 | $46.2K |
| Sep 2024 | -$258.5K |
At each fiscal year end
Single quarter
Debt to equity
n/a
no debt line filed
Debt to equity REFR
| FY Dec 2025 | n/a |
| FY Dec 2024 | n/a |
| FY Dec 2023 | n/a |
| FY Dec 2022 | n/a |
| FY Dec 2021 | n/a |
| Jun 2026 | n/a |
| Mar 2026 | n/a |
| Dec 2025 | n/a |
| Sep 2025 | n/a |
| Jun 2025 | n/a |
| Mar 2025 | n/a |
| Dec 2024 | n/a |
| Sep 2024 | n/a |
At each fiscal year end
Trailing four quarters at each quarter end
Cash flow to debt
n/a
no debt line filed
Cash flow to debt REFR
| FY Dec 2025 | n/a |
| FY Dec 2024 | n/a |
| FY Dec 2023 | n/a |
| FY Dec 2022 | n/a |
| FY Dec 2021 | n/a |
| Jun 2026 | n/a |
| Mar 2026 | n/a |
| Dec 2025 | n/a |
| Sep 2025 | n/a |
| Jun 2025 | n/a |
| Mar 2025 | n/a |
| Dec 2024 | n/a |
| Sep 2024 | n/a |
At each fiscal year end
Trailing four quarters at each quarter end
Return on equity
-154.0%
TTM net income over average of 2025-06-30 and 2026-06-30
Return on equity REFR
| FY Dec 2025 | -115.6% |
| FY Dec 2024 | -42.8% |
| FY Dec 2023 | -45.9% |
| FY Dec 2022 | -62.2% |
| FY Dec 2021 | -40.5% |
| Jun 2026 | -154.0% |
| Mar 2026 | -113.7% |
| Dec 2025 | -115.6% |
| Sep 2025 | -87.4% |
| Jun 2025 | -73.4% |
| Mar 2025 | -38.0% |
| Dec 2024 | -42.8% |
| Sep 2024 | -35.5% |
At each fiscal year end
Trailing four quarters at each quarter end
Return on assets
-79.7%
TTM net income over average of 2025-06-30 and 2026-06-30
Return on assets REFR
| FY Dec 2025 | -65.0% |
| FY Dec 2024 | -33.2% |
| FY Dec 2023 | -41.4% |
| FY Dec 2022 | -53.9% |
| FY Dec 2021 | -34.4% |
| Jun 2026 | -79.7% |
| Mar 2026 | -69.9% |
| Dec 2025 | -65.0% |
| Sep 2025 | -65.5% |
| Jun 2025 | -53.6% |
| Mar 2025 | -28.7% |
| Dec 2024 | -33.2% |
| Sep 2024 | -32.8% |
At each fiscal year end
Trailing four quarters at each quarter end
Return on invested capital
n/a
tax provision or pre-tax income not filed for the four quarters
Return on invested capital REFR
| FY Dec 2025 | n/a |
| FY Dec 2024 | n/a |
| FY Dec 2023 | n/a |
| FY Dec 2022 | n/a |
| FY Dec 2021 | n/a |
| Jun 2026 | n/a |
| Mar 2026 | n/a |
| Dec 2025 | n/a |
| Sep 2025 | n/a |
| Jun 2025 | n/a |
| Mar 2025 | n/a |
| Dec 2024 | n/a |
| Sep 2024 | n/a |
At each fiscal year end
Trailing four quarters at each quarter end
Return on capital employed
-91.9%
operating income (EBIT proxy) over average of 2025-06-30 and 2026-06-30 minus current liabilities
Return on capital employed REFR
| FY Dec 2025 | -74.5% |
| FY Dec 2024 | -39.3% |
| FY Dec 2023 | -47.1% |
| FY Dec 2022 | -56.4% |
| FY Dec 2021 | -36.0% |
| Jun 2026 | -91.9% |
| Mar 2026 | -76.7% |
| Dec 2025 | -74.5% |
| Sep 2025 | -73.7% |
| Jun 2025 | -65.0% |
| Mar 2025 | -36.5% |
| Dec 2024 | -39.3% |
| Sep 2024 | -39.0% |
At each fiscal year end
Trailing four quarters at each quarter end
P/E, trailing
n/a
trailing loss, a multiple of a loss is not meaningful
P/E, trailing REFR
| FY Dec 2025 | n/a |
| FY Dec 2024 | n/a |
| FY Dec 2023 | n/a |
| FY Dec 2022 | n/a |
| FY Dec 2021 | n/a |
| Jun 2026 | n/a |
| Mar 2026 | n/a |
| Dec 2025 | n/a |
| Sep 2025 | n/a |
| Jun 2025 | n/a |
| Mar 2025 | n/a |
| Dec 2024 | n/a |
| Sep 2024 | n/a |
At each fiscal year end
Trailing four quarters at each quarter end
Enterprise value
n/a
no debt line filed
Enterprise value REFR
| FY Dec 2025 | n/a |
| FY Dec 2024 | n/a |
| FY Dec 2023 | n/a |
| FY Dec 2022 | n/a |
| FY Dec 2021 | n/a |
| Jun 2026 | n/a |
| Mar 2026 | n/a |
| Dec 2025 | n/a |
| Sep 2025 | n/a |
| Jun 2025 | n/a |
| Mar 2025 | n/a |
| Dec 2024 | n/a |
| Sep 2024 | n/a |
At each fiscal year end
Trailing four quarters at each quarter end
FCF yield
-10.0%
TTM free cash flow over market value at close 2026-10-26
FCF yield REFR
| FY Dec 2025 | -3.0% |
| FY Dec 2024 | -1.4% |
| FY Dec 2023 | -6.8% |
| FY Dec 2022 | -3.4% |
| FY Dec 2021 | -3.3% |
| Jun 2026 | -8.6% |
| Mar 2026 | -4.5% |
| Dec 2025 | -3.0% |
| Sep 2025 | -1.5% |
| Jun 2025 | -1.7% |
| Mar 2025 | -2.7% |
| Dec 2024 | -1.4% |
| Sep 2024 | -1.9% |
At each fiscal year end
Trailing four quarters at each quarter end
PEG, trailing
n/a
trailing loss, a multiple of a loss is not meaningful
PEG, trailing REFR
| FY Dec 2025 | n/a |
| FY Dec 2024 | n/a |
| FY Dec 2023 | n/a |
| FY Dec 2022 | n/a |
| FY Dec 2021 | n/a |
| Jun 2026 | n/a |
| Mar 2026 | n/a |
| Dec 2025 | n/a |
| Sep 2025 | n/a |
| Jun 2025 | n/a |
| Mar 2025 | n/a |
| Dec 2024 | n/a |
| Sep 2024 | n/a |
At each fiscal year end
Trailing four quarters at each quarter end
Price as of 2026-10-26. Hover or tap a tile for its yearly and quarterly history.
Method
TTM is four consecutive fiscal quarters; Q4 is the year minus nine months when not filed. Returns use the average of opening and closing balances. EBIT is approximated by operating income. PEG uses trailing EPS growth.
Fundamentals
Annual figures from XBRL filings. Pick a past date to see them as known then.
| 2025-12 | 2024-12 | 2023-12 | 2022-12 | |
|---|---|---|---|---|
| Revenue | $1.1M | $1.3M | $909.6K | $539.7K |
| Operating income | -$2.1M | -$1.4M | -$2.0M | -$2.6M |
| Net income | -$2.0M | -$1.3M | -$1.9M | -$2.7M |
| EPS (diluted) | -0.06 | -0.04 | -0.06 | -0.08 |
| Operating cash flow | -$1.3M | -$788.8K | -$2.3M | -$2.2M |
| Cash | $664.3K | $2.0M | $2.5M | $4.2M |
SEC XBRL, fiscal years, as known on 2026-10-28
REFR Stock Sonar score 4/7 axes
Find similar shapesCompareREFR ranks highest on risk and compliance (62nd percentile) and growth (54th), and lowest on profitability (10th), among Services peers.
4 of 7 axes scored. Each is a percentile against sector peers (all companies when the sector is thin); higher is better. An unscored axis is unmeasured, not low. How it is scored
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