Q2 2024 Research Frontiers Inc Earnings Call Transcript
Key Points
- Royalty income increased by 165% compared to the same quarter last year.
- Six consecutive quarters of revenue growth.
- Expenses decreased by $105,000, reducing net loss to $94,000.
- Strong financial position with over $1.9 million in cash and no debt.
- High adoption rates of SPD-Smart Glass technology in luxury automotive brands like Ferrari and McLaren.
- Net loss of $94,000 for the second quarter.
- Dependence on a few key markets (automotive and aircraft) for revenue growth.
- Challenges in making new announcements due to reliance on customer disclosures.
- Potential lower royalties from mid-priced vehicles compared to high-end models.
- Concerns about the effectiveness of Gauzy's IPO and its impact on market perception.
Good afternoon, ladies and gentlemen. Welcome to the Research Frontiers investor conference call to discuss the second quarter of 2024 results of operations and recent developments.
(Operator instructions)
A replay of this conference call will be available starting later today in the Investors section of research Frontier's website at www.smartglass.com, and will be available for replay for the next 90 days.
Please note that some of the comments made today may contain forward-looking information. The words expect, anticipate, plans, forecast, and similar expressions are intended to identify forward-looking state statements that are not historical facts are forward-looking statements that are made pursuant to the Safe Harbor provisions that are part of the Securities Litigation Reform Act of 1995.
These statements reflect the Company's current beliefs and a number of important factors could cause actual results for future periods to differ materially from those expressed. Significant factors that could
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