REFR - Research Frontiers Incorporated (REFR) Q4 2023 Earnings Call Transcript
2024-03-07 21:55:22 ET
Research Frontiers Incorporated (REFR)
Q4 2023 Earnings Conference Call
March 7, 2024 4:30 PM ET
Company Participants
Joe Harary – President and Chief Executive Officer
Conference Call Participants
Ted Campbell – Private Investor
Alan Ginsberg – Private Investor
Gerald Sherman – Strategic Planning Group
Art Brady – Private Investor
John Nelson – Private Investor
August Berman – Private Investor
Mike Zelnick – Private Investor
Bruce Denny – Private Investor
Jeff Harvey – Private Investor
Seth Nickerson – Private Investor
Presentation
Operator
Good afternoon, ladies and gentlemen. Welcome to Research Frontiers Investor Conference Call to discuss the Fourth Quarter and Full Year 2023 Results of operations and recent developments.
During today's presentations, all parties will be in a listen-only mode. [Operator Instructions] This conference is being recorded today. A replay of this conference call will be available starting later today in the Investors section of Research Frontiers 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, forecasts and similar expressions are intended to identify forward-looking statements. 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, that a number of important factors could cause actual results for future periods to differ materially from those expressed. Significant factors that could cause results to differ from those anticipated are described in our filings with the SEC. Research Frontiers undertakes no obligation to update or revise these forward-looking statements to reflect new events or uncertainties.
The company will be answering many of the questions that were e-mailed to it prior to this conference call, either in their presentation or as part of the Q&A session at the end. In some cases, the company has responded directly to e-mail questions prior to this call, or will do so afterwards, in order to answer more questions of general interest to shareholders on this call. [Operator Instructions] Also, we ask that you keep your questions brief in the interest of time.
I would now like to turn the conference over to Joe Harary, President and Chief Executive Officer of Research Frontiers. Please go ahead, sir.
Joe Harary
Hey, thank you, Paul, and hello everyone, and welcome to our fourth quarter and full year 2023 investor conference call. As you have seen from the numbers that we released about 30 minutes ago in our 10-K, revenues were up quite substantially, 109% in this past year, costs have been reduced and we're much closer to profitability. Today, we're going to discuss what's underneath these numbers and why we can all expect 2024 to be an even better year for Research Frontiers and its shareholders and licensees.
Research Frontiers is the market leader in smart glass. We're also the most diversified company in the smart glass industry, with product applications in automotive, aircraft, architectural glass, marine glass, and augmented reality displays, and other areas, including consumer products. We're also the most diversified in terms of skills and capabilities of the companies we work with and geographically diverse, with licensees operating on almost every continent except Antarctica. This broad and diverse footprint allows us to coordinate, collaborate and service the needs of our customers locally and rapidly, wherever they are....
Research Frontiers Incorporated (REFR) Q4 2023 Earnings Call Transcript