Research Frontiers annual free cash flow
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2025
Research Frontiers Free Cash Flow (FCF) History (REFR)
Research Frontiers reported −$1.3M in free cash flow for fiscal 2025, a decrease of $539,445 from the previous fiscal year, with a free cash flow margin of −118.61%.
View full Research Frontiers company overviewResearch Frontiers free cash flow by year
| Fiscal year | Period ended | Free cash flow | Change | Growth | FCF margin |
|---|---|---|---|---|---|
| 2025 | 2025-12-31 | −$1.3M | −$539,445 | — | −118.61% |
| 2024 | 2024-12-31 | −$790,442 | $1.5M | — | −59.19% |
| 2023 | 2023-12-31 | −$2.3M | −$112,593 | — | −252.49% |
| 2022 | 2022-12-31 | −$2.2M | −$378,646 | — | −404.68% |
| 2021 | 2021-12-31 | −$1.8M | $503,857 | — | −142.94% |
| 2020 | 2020-12-31 | −$2.3M | −$161,226 | — | −278.74% |
| 2019 | 2019-12-31 | −$2.1M | −$65,278 | — | −137.34% |
| 2018 | 2018-12-31 | −$2.1M | −$605,634 | — | −139.91% |
| 2017 | 2017-12-31 | −$1.5M | $2.5M | — | −97.88% |
| 2016 | 2016-12-31 | −$4.0M | −$120,161 | — | −324.99% |
| 2015 | 2015-12-31 | −$3.9M | $54,478 | — | −194.12% |
| 2014 | 2014-12-31 | −$4.0M | −$656,080 | — | −247.15% |
| 2013 | 2013-12-31 | −$3.3M | −$604,726 | — | — |
| 2012 | 2012-12-31 | −$2.7M | $674,432 | — | — |
| 2011 | 2011-12-31 | −$3.4M | −$152,735 | — | — |
| 2010 | 2010-12-31 | −$3.2M | $544,108 | — | — |
| 2009 | 2009-12-31 | −$3.8M | — | — | — |
Research Frontiers quarterly free cash flow
Q3.10
Q1.11
Q2.11
Q3.11
Q4.11
Q1.12
Q2.12
Q3.12
Q4.12
Q1.13
Q2.13
Q3.13
Q4.13
Q1.14
Q2.14
Q3.14
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Q2.15
Q3.15
Q4.15
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Q3.16
Q4.16
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Q2.17
Q3.17
Q4.17
Q1.18
Q2.18
Q3.18
Q4.18
Q1.19
Q2.19
Q3.19
Q4.19
Q1.20
Q2.20
Q3.20
Q4.20
Q1.21
Q2.21
Q3.21
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Q2.22
Q3.22
Q4.22
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Q2.23
Q3.23
Q4.23
Q1.24
Q2.24
Q3.24
Q4.24
Q1.25
Q2.25
Q3.25
Q4.25
Q1.26
Q2.26
| Fiscal quarter | Period ended | Free cash flow | Change | YoY growth | FCF margin |
|---|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | −$191,345 | −$112,816 | — | −221.60% |
| Q1 2026 | 2026-03-31 | −$759,998 | −$118,617 | — | −557.51% |
| Q4 2025 | 2025-12-31 | −$466,091 | −$512,290 | — | −646.24% |
| Q3 2025 | 2025-09-30 | −$143,886 | $114,629 | — | −40.03% |
| Q2 2025 | 2025-06-30 | −$78,529 | $108,427 | — | −60.45% |
| Q1 2025 | 2025-03-31 | −$641,381 | −$250,211 | — | −114.58% |
| Q4 2024 | 2024-12-31 | $46,199 | $595,226 | — | +25.93% |
| Q3 2024 | 2024-09-30 | −$258,515 | $264,926 | — | −72.94% |
| Q2 2024 | 2024-06-30 | −$186,956 | $439,438 | — | −38.19% |
| Q1 2024 | 2024-03-31 | −$391,170 | $206,655 | — | −124.82% |
| Q4 2023 | 2023-12-31 | −$549,027 | $18,207 | — | −175.84% |
| Q3 2023 | 2023-09-30 | −$523,441 | $12,495 | — | −318.89% |
| Q2 2023 | 2023-06-30 | −$626,394 | −$44,107 | — | −338.52% |
| Q1 2023 | 2023-03-31 | −$597,825 | −$99,266 | — | −240.89% |
| Q4 2022 | 2022-12-31 | −$567,234 | −$630,674 | — | −436.66% |
| Q3 2022 | 2022-09-30 | −$535,936 | −$52,853 | — | −356.24% |
| Q2 2022 | 2022-06-30 | −$582,287 | $160,434 | — | −680.95% |
| Q1 2022 | 2022-03-31 | −$498,559 | $144,447 | — | −286.81% |
| Q4 2021 | 2021-12-31 | $63,440 | $730,943 | — | +29.85% |
| Q3 2021 | 2021-09-30 | −$483,083 | −$81,945 | — | −66.77% |
| Q2 2021 | 2021-06-30 | −$742,721 | −$260,413 | — | −651.87% |
| Q1 2021 | 2021-03-31 | −$643,006 | $115,272 | — | −301.71% |
| Q4 2020 | 2020-12-31 | −$667,503 | −$242,541 | — | −511.36% |
| Q3 2020 | 2020-09-30 | −$401,138 | −$54,743 | — | −242.19% |
| Q2 2020 | 2020-06-30 | −$482,308 | $161,651 | — | −273.86% |
| Q1 2020 | 2020-03-31 | −$758,278 | −$25,593 | — | −212.90% |
| Q4 2019 | 2019-12-31 | −$424,962 | $9,645 | — | −111.40% |
| Q3 2019 | 2019-09-30 | −$346,395 | $175,846 | — | −74.84% |
| Q2 2019 | 2019-06-30 | −$643,959 | −$209,386 | — | −213.91% |
| Q1 2019 | 2019-03-31 | −$732,685 | −$41,383 | — | −175.01% |
| Q4 2018 | 2018-12-31 | −$434,607 | $15,600 | — | −117.21% |
| Q3 2018 | 2018-09-30 | −$522,241 | −$304,676 | — | −145.18% |
| Q2 2018 | 2018-06-30 | −$434,573 | −$274,977 | — | −133.78% |
| Q1 2018 | 2018-03-31 | −$691,302 | −$41,581 | — | −159.55% |
| Q4 2017 | 2017-12-31 | −$450,207 | $844,139 | — | −161.11% |
| Q3 2017 | 2017-09-30 | −$217,565 | $587,869 | — | −44.55% |
| Q2 2017 | 2017-06-30 | −$159,596 | $719,852 | — | −45.84% |
| Q1 2017 | 2017-03-31 | −$649,721 | $388,209 | — | −165.27% |
| Q4 2016 | 2016-12-31 | −$1.3M | −$568,062 | — | −465.99% |
| Q3 2016 | 2016-09-30 | −$805,434 | −$92,647 | — | −264.27% |
| Q2 2016 | 2016-06-30 | −$879,448 | $292,376 | — | −359.79% |
| Q1 2016 | 2016-03-31 | −$1.0M | $248,172 | — | −253.69% |
| Q4 2015 | 2015-12-31 | −$726,284 | $417,920 | — | −191.76% |
| Q3 2015 | 2015-09-30 | −$712,787 | $141,240 | — | −159.87% |
| Q2 2015 | 2015-06-30 | −$1.2M | −$68,027 | — | −145.84% |
| Q1 2015 | 2015-03-31 | −$1.3M | −$436,655 | — | −338.98% |
| Q4 2014 | 2014-12-31 | −$1.1M | −$124,962 | — | −258.93% |
| Q3 2014 | 2014-09-30 | −$854,027 | $68,902 | — | −188.55% |
| Q2 2014 | 2014-06-30 | −$1.1M | −$325,500 | — | −279.01% |
| Q1 2014 | 2014-03-31 | −$849,447 | −$274,520 | — | −275.48% |
| Q4 2013 | 2013-12-31 | −$1.0M | −$169,475 | — | — |
| Q3 2013 | 2013-09-30 | −$922,929 | −$76,659 | — | −182.15% |
| Q2 2013 | 2013-06-30 | −$778,297 | −$577,691 | — | — |
| Q1 2013 | 2013-03-31 | −$574,927 | $219,099 | — | — |
| Q4 2012 | 2012-12-31 | −$849,767 | $207,361 | — | — |
| Q3 2012 | 2012-09-30 | −$846,270 | −$36,477 | — | — |
| Q2 2012 | 2012-06-30 | −$200,606 | $626,842 | — | — |
| Q1 2012 | 2012-03-31 | −$794,026 | −$123,294 | — | — |
| Q4 2011 | 2011-12-31 | −$1.1M | −$155,998 | — | — |
| Q3 2011 | 2011-09-30 | −$809,793 | — | — | — |
| Q2 2011 | 2011-06-30 | −$827,448 | — | — | — |
| Q1 2011 | 2011-03-31 | −$670,732 | — | — | — |
| Q3 2010 | 2010-09-30 | −$901,130 | — | — | — |
Research Frontiers free cash flow growth trends
Over the last five reported fiscal years, free cash flow grew from −$2.3M to −$1.3M, a net increase of $979,340. Research Frontiers's latest reported quarter, Q2 2026, generated −$191,345 in free cash flow, a decrease of $112,816 year over year.
About the metric
What free cash flow means
Free cash flow is the cash a company generates from operations after capital expenditures. Positive FCF can fund dividends, buybacks, debt repayment, or reinvestment; negative FCF means capital spending exceeded operating cash flow for that period.
Calculation and source
How free cash flow is calculated
TickerStat calculates free cash flow as SEC-reported operating cash flow minus capital expenditures. FCF margin equals free cash flow divided by revenue. Fiscal periods can differ from calendar years, so the tables include exact period-end dates.
Review Research Frontiers filings at SEC.gov ↗