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Side-by-side financial comparison of RESEARCH FRONTIERS INC (REFR) and SELLAS Life Sciences Group, Inc. (SLS). Click either name above to swap in a different company.
SELLAS Life Sciences Group, Inc. is the larger business by last-quarter revenue ($79.0K vs $72.1K, roughly 1.1× RESEARCH FRONTIERS INC). RESEARCH FRONTIERS INC runs the higher net margin — -1061.5% vs -12108.9%, a 11047.4% gap on every dollar of revenue.
Research Frontiers is an American nanotechnology company based in Woodbury, New York that was founded by Robert Saxe in 1965 to develop light control technology from Polaroid known as smart glass. The company develops and licenses its patented SPD-SmartGlass technology. The company currently has six full-time employees.
SELLAS Life Sciences Group, Inc. is a late-stage clinical biopharmaceutical company focused on developing innovative cancer immunotherapies for patients with unmet medical needs. Its core pipeline targets both hematological malignancies and solid tumors, with lead product candidates addressing indications like acute myeloid leukemia, primarily serving markets across North America.
REFR vs SLS — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2024
| Metric | | |
|---|---|---|
| Revenue | $72.1K | $79.0K |
| Net Profit | $-765.6K | $-9.6M |
| Gross Margin | — | — |
| Operating Margin | -1072.5% | -12208.9% |
| Net Margin | -1061.5% | -12108.9% |
| Revenue YoY | -59.5% | — |
| Net Profit YoY | -25.9% | 13.8% |
| EPS (diluted) | $-0.02 | $-0.21 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $72.1K | — | ||
| Q3 25 | $359.4K | — | ||
| Q2 25 | $129.9K | — | ||
| Q1 25 | $559.8K | — | ||
| Q4 24 | $178.2K | — | ||
| Q3 24 | $354.4K | — | ||
| Q2 24 | $489.6K | — | ||
| Q1 24 | $313.4K | $79.0K |
| Q4 25 | $-765.6K | — | ||
| Q3 25 | $-298.5K | — | ||
| Q2 25 | $-803.8K | — | ||
| Q1 25 | $-177.7K | — | ||
| Q4 24 | $-607.9K | — | ||
| Q3 24 | $-166.8K | — | ||
| Q2 24 | $-94.0K | — | ||
| Q1 24 | $-442.6K | $-9.6M |
| Q4 25 | -1072.5% | — | ||
| Q3 25 | -84.6% | — | ||
| Q2 25 | -627.5% | — | ||
| Q1 25 | -42.8% | — | ||
| Q4 24 | -350.4% | — | ||
| Q3 24 | -65.4% | — | ||
| Q2 24 | -23.7% | — | ||
| Q1 24 | -149.9% | -12208.9% |
| Q4 25 | -1061.5% | — | ||
| Q3 25 | -83.0% | — | ||
| Q2 25 | -618.8% | — | ||
| Q1 25 | -31.7% | — | ||
| Q4 24 | -341.2% | — | ||
| Q3 24 | -47.1% | — | ||
| Q2 24 | -19.2% | — | ||
| Q1 24 | -141.2% | -12108.9% |
| Q4 25 | $-0.02 | — | ||
| Q3 25 | $-0.01 | — | ||
| Q2 25 | $-0.02 | — | ||
| Q1 25 | $-0.01 | — | ||
| Q4 24 | $-0.03 | — | ||
| Q3 24 | $0.00 | — | ||
| Q2 24 | $0.00 | — | ||
| Q1 24 | $-0.01 | $-0.21 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $664.3K | $18.4M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $933.6K | $9.7M |
| Total Assets | $2.3M | $24.4M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $664.3K | — | ||
| Q3 25 | $1.1M | — | ||
| Q2 25 | $1.3M | — | ||
| Q1 25 | $1.4M | — | ||
| Q4 24 | $2.0M | — | ||
| Q3 24 | $1.6M | — | ||
| Q2 24 | $1.9M | — | ||
| Q1 24 | $2.1M | $18.4M |
| Q4 25 | $933.6K | — | ||
| Q3 25 | $1.5M | — | ||
| Q2 25 | $1.8M | — | ||
| Q1 25 | $2.4M | — | ||
| Q4 24 | $2.6M | — | ||
| Q3 24 | $2.8M | — | ||
| Q2 24 | $3.0M | — | ||
| Q1 24 | $3.1M | $9.7M |
| Q4 25 | $2.3M | — | ||
| Q3 25 | $2.8M | — | ||
| Q2 25 | $3.2M | — | ||
| Q1 25 | $3.8M | — | ||
| Q4 24 | $4.0M | — | ||
| Q3 24 | $3.0M | — | ||
| Q2 24 | $3.4M | — | ||
| Q1 24 | $3.5M | $24.4M |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-465.9K | $-10.8M |
| Free Cash FlowOCF − Capex | $-466.1K | — |
| FCF MarginFCF / Revenue | -646.2% | — |
| Capex IntensityCapex / Revenue | 0.2% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-1.3M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-465.9K | — | ||
| Q3 25 | $-143.5K | — | ||
| Q2 25 | $-78.4K | — | ||
| Q1 25 | $-641.3K | — | ||
| Q4 24 | $47.1K | — | ||
| Q3 24 | $-257.9K | — | ||
| Q2 24 | $-186.9K | — | ||
| Q1 24 | $-391.1K | $-10.8M |
| Q4 25 | $-466.1K | — | ||
| Q3 25 | $-143.9K | — | ||
| Q2 25 | $-78.5K | — | ||
| Q1 25 | $-641.4K | — | ||
| Q4 24 | $46.2K | — | ||
| Q3 24 | $-258.5K | — | ||
| Q2 24 | $-187.0K | — | ||
| Q1 24 | $-391.2K | — |
| Q4 25 | -646.2% | — | ||
| Q3 25 | -40.0% | — | ||
| Q2 25 | -60.5% | — | ||
| Q1 25 | -114.6% | — | ||
| Q4 24 | 25.9% | — | ||
| Q3 24 | -72.9% | — | ||
| Q2 24 | -38.2% | — | ||
| Q1 24 | -124.8% | — |
| Q4 25 | 0.2% | — | ||
| Q3 25 | 0.1% | — | ||
| Q2 25 | 0.1% | — | ||
| Q1 25 | 0.0% | — | ||
| Q4 24 | 0.5% | — | ||
| Q3 24 | 0.2% | — | ||
| Q2 24 | 0.0% | — | ||
| Q1 24 | 0.0% | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
