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Research Frontiers cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow−$443K in Q3 2026 · −$1.9M over twelve months

Operating cash flow−$443K
Capital spending−$8
Free cash flow−$443K

Analysis

In Q3 2026, Research Frontiers generated −$443K of operating cash flow and spent $8 on capital projects, leaving free cash flow of −$443K. That is $299K less than in Q3 2025 (−$144K).

Over the twelve months to Sep 30, 2026, operating cash flow was −$1.9M; the largest uses were operating cash flow ($1.9M), capital spending ($257); the cash balance fell by $486K.

Operating cash flow was −$443K against net income of −$510K. The largest differences: payables +$72K, prepaid and other assets +$46K, deferred revenue −$42K.

Free cash flow

Research Frontiers: free cash flow by quarterResearch Frontiers: free cash flow by quarter$46KQ4 2024−$641KQ1 2025−$79KQ2 2025−$144KQ3 2025−$466KQ4 2025−$760KQ1 2026−$191KQ2 2026−$443KQ3 2026
Operating cash flow less capital spending.
Research Frontiers: operating cash flow against capital spendingResearch Frontiers: operating cash flow against capital spendingOperating cash flowCapital spending$47K$1KQ4 2024−$641K$110Q1 2025−$78K$99Q2 2025−$144K$373Q3 2025−$466K$144Q4 2025−$760K$67Q1 2026−$191K$38Q2 2026−$443K$8Q3 2026
Latest (Q3 2026): Operating cash flow −$443K, Capital spending $8.

Capital allocation, year by year

Research Frontiers: where the cash came from (up) and went (down), by fiscal yearResearch Frontiers: where the cash came from (up) and went (down), by fiscal yearOperating cash flowShares issuedCapital spendingFY2021: Operating cash flow −$1.8MFY2021: Capital spending −$1KFY2021FY2022: Operating cash flow −$2.2MFY2022: Capital spending −$1KFY2022FY2023: Operating cash flow −$2.3MFY2023: Capital spending −$2KFY2023FY2024: Operating cash flow −$789KFY2024: Shares issued $9KFY2024: Capital spending −$2K$9KFY2024FY2025: Operating cash flow −$1.3MFY2025: Capital spending −$1KFY2025
Over these 5 years operating cash flow totalled −$8.4M; the largest uses were operating cash flow ($8.4M) and capital spending ($6K). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$645K
Debtnone
Net cash$645K
Cash runway4 months

Research Frontiers is burning cash: its operations consume cash, a free cash flow of −$1.9M a year at the current rate against $645K of cash and investments: a runway of about 4 months before any new financing.

Where the cash came from and went

Research Frontiers: sources (+) and uses (−) of cash, Q3 2026Research Frontiers: sources (+) and uses (−) of cash, Q3 2026Cash drawn (+) / kept (−)$443KOperating cash flow−$443KCapital spending−$8
Research Frontiers: sources (+) and uses (−) of cash, TTM to Q3 2026Research Frontiers: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow−$1.9MNot reconciled$1.4MCash drawn (+) / kept (−)$486KCapital spending−$257

From profit to cash

Research Frontiers: net income to operating cash flow, Q3 2026Research Frontiers: net income to operating cash flow, Q3 2026Net income−$510KDepreciation & amortization$316Receivables−$35KPayables$72KDeferred revenue−$42KPrepaid and other assets$46KOperating cash flow−$443K
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingCash drawn (+) / kept (−)Free cash flow
Q3 2026−$443K−$8$443K−$443K
Q2 2026−$191K−$38$191K−$191K
Q1 2026−$760K−$67−$615K−$760K
Q4 2025−$466K−$144$466K−$466K
Q3 2025−$144K−$373$144K−$144K
Q2 2025−$78K−$99$79K−$79K
Q1 2025−$641K−$110$641K−$641K
Q4 2024$47K−$1K−$346K$46K

Research Frontiers: income statement and cash flow

Research Frontiers, Q3 2026: revenue $77K (-79% year over year), operating margin -672.5%. The chart follows the revenue to costs, profit and cash.

Research Frontiers: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.