RESEARCH FRONTIERS INCORPORATED
Cash Flow Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $-2.0M | $-1.3M | $-1.9M | $-2.7M | $-1.8M | $-2.3M | $-3.8M | $-2.7M |
| Depreciation & Amortization | $11.5K | $15.0K | $14.7K | $28.8K | $29.9K | $67.1K | $195.4K | $181.0K |
| Depreciation | — | — | — | — | — | — | — | — |
| Amortization | — | — | — | — | — | — | — | — |
| Stock-Based Compensation | $374.9K | $89.3K | $144.7K | $232.3K | $217.0K | $327.6K | $841.6K | $69.3K |
| Net Cash from Operating Activities | $-1.3M | $-788.8K | $-2.3M | $-2.2M | $-1.8M | $-2.3M | $-2.1M | $-2.1M |
| Investing Activities | ||||||||
| Capital Expenditures | $726 | $1.6K | $1.6K | $1.3K | $1.1K | $56.5K | $65.3K | $11.7K |
| Business Acquisitions | — | — | — | — | — | — | — | — |
| Net Cash from Investing Activities | $-726 | $-1.6K | $55.6K | $2.7M | $-2.8M | $-52.8K | $-65.3K | $-11.7K |
| Financing Activities | ||||||||
| Dividends Paid | — | — | — | — | — | — | — | — |
| Stock Repurchases | — | — | — | — | — | — | — | — |
| Net Cash from Financing Activities | — | $308.7K | $484.5K | $3.5M | $86.3K | $486.3K | $5.8M | $3.3M |
| Net Change in Cash | $-1.3M | $-481.8K | $-1.8M | $4.0M | $-4.5M | $-1.8M | $3.6M | $1.2M |
| Free Cash Flow | $-1.3M | $-790.4K | $-2.3M | $-2.2M | $-1.8M | $-2.3M | $-2.1M | $-2.1M |