Earnings call transcript Q4 2022

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Good afternoon, ladies and gentlemen. Welcome to Research Frontiers' Investor Conference Call to Discuss the Fourth Quarter of 2022 and Year-End Results of Operations and Recent Developments. [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.

of made some forward-looking may that information. note the today comments contain Please anticipate, similar forecasts, to words plans, The expect, and statements. identify expressions forward-looking intended are Statements are part statements the Securities are to historical Act Safe of that of Reform made XXXX. the that are pursuant forward-looking provisions Harbor Litigation are not that facts

that cause to from company's future to periods for obligation reflect from new the reflect a these those statements revise are our results Significant beliefs and described forward-looking or results undertakes update number to filings SEC. differ actual materially could of those anticipated These with statements or current no important differ Research expressed. factors factors cause could in to Frontiers events the uncertainties.

the prior presentation to responded cases, were In of prior The the or the questions questions shareholders part that to this call questions [Operator interest this end. has conference general question their in company of session it interest will or either in that keep brief as so Q&A some company call, of answer to time. e-mailed answering your Instructions] the this to be at directly will more call. you to afterwards on we to order the ask of e-mail in Also, do many

like Please ahead, sir. go over I to Executive Frontiers. Research Joe to conference now turn the Chief would of Harary, President Officer and

Joe Harary

to XXXX quarter because questions keep floor Thank year-end and things you, fourth today open than to conference of informal usual to discussion. I up and Paul, call. and everyone, going more hello, investor and our want I'm the to welcome

day worldwide XXXX ever the into quite Bosch, And Gauzy automotive, showing a this January at mostly was number had Display, just automotive major of their moved in and boats, XXXX them such started various trains, off Continental customers the join aircraft, that also booth off strongly. show. prestigious architectural of and hall. OSG, and We for applications. first CES past west with Talgo, largest LG the and very as positive built products, developments but

around BMW press all That equipped person remotely, keynote component. and CEO was speech display in keynote that a Vision. SPD-SmartGlass. at was car Arnold prominently SPD of Hasselhoff night, opening vast Oliver showcased readability the had CES, the BMW's glass The Schwarzenegger with by Zipse's aided i in Also, David and its because highlighted releases being added functionality and BMW's of heads-up his

the visited. our at the press You was can this, even there from releases but in shareholders CES have read of some and more I details about beginning

see could was other the as booth at prevalent. as Galaxy You SPD well places, impressive it and and

They another was Flanders, be year. automated I to smart headquartered visibly glass has expanded Belgium. European this close customers. car it it Moving to They models and licensee. have SPD in amazing, and of coming now factory visited to out its expanded they also many operations its Belgium, impressive. several in Ghent, AGP have in really an active also highly

to well We years. in questions of has calls about the one previous several lurking be to focused our response things mentioned and uncertainty I I inflation-proof positioning that Frontiers done that. the have well recession-proof somewhat itself positioned company to it's Because in guess, on also Research and economic that been how for continues, seem and we be here. certainly those past more

originally to another of switch that, technology selected film industry of smart have We technology we this Many switchable smart win OEM switching that both SPD. that over be Ferrari ultimately might another to both the expect you customer. Mercedes SPD. used another And are year, over to glass and followed also patient. this And before because we glass aware that

continuous well equal. We cooperation And the model, our with offer and and good improvement, all constant licensees of products. our in. companies data, as on supplying by Usually, diversify into our fulfilling to to constantly a education, projects are solutions of deliver innovative enable technology, business them licensees, having not and or tapping technologies need foster glass and business a customers the drive and that costs created the smart and to and we're refinement them as and customers high-performing reduce profitable OEM ultimately and industries are to improved being partnerships the their this new focusing to understands -- a we

Joe Harary

some I recap, to the by And with we now will that that questions of brief introduction email. and turn received

will Can is on conference asked, important And GM be much believe said give last has do have words. SPD, why in that that details indications or pretty those you to specifics investors? that this? you some are this? growing you Tom call, any would you all Do that, quote, on

let strategy, EV that vehicles year. EV their this Well, flagship General Motors volume starting adopted much their really in They've is saying has which announced by SPD-SmartGlass me Celestiq. of the introduce a electric, number higher continuously now first to

that on Initially, going automotive we at of to afterwards. give that spoke And things? on the had general. glass in general, I GM's of in glass put, presentation Why conference I'll they're hosted, attended a simply then me. and and the the breakout systems expand head attended -- glass and I my confident spoke a bit called session roof little well, background. I to they other am Well, into you switchable

to it flagship; a this hand-built car. and they out It's it's their And of that he is And with coming as slated a proceed model. about course, Celestiq. advice bespoke of later, how are to my had I me beautiful their But had they have them. the they several this gave car models and vehicles number And that that. for to told is year asked a SPD that after

talk you asked, can't the had this Another as question magic know on roof, out please too about Hyundai, Tom more Internet. specific. get I the was

vehicles like what's now in and just for they a spent on about do Grandeur, Hyundai. of other in that focus company I it What last the the them, call on some speaking I'd a it Hyundai basically, time about is conference And lot what's as for have. and GMX, to

going First better which of on kilometer in all, save to vehicles, important, not for targets. is grams mileage by penalties put where very engine gas emissions, hitting their to they're general, X will fleet combustion SPD-SmartGlass. And they COX have per the Europe COX especially extent this in in there's internal using

what's If the they Cadillac, put get vehicle get you're going Mercedes, it to and effect X.X% the area, an in course, Ferrari. of then, in of range. the McLaren, increase electric And you estimated having on halo driving

Hyundai reasons think So those is that. are on good that with I path a

some try names first from came will just here privacy. use I to Another question Chuck. to just preserve

when see a Act Glass going and SPD and to number windows of progress offices happening, are With buildings? we other passed other Dynamic significant the in

will I credit itself. that hold the the answer windows, SPD. in And dynamics remarks. Glass And will But because XX% question then a for for as changes because XX% about it it's adoption that to such question you, of I my closing smart the offering certainly, Dynamic you better Act had other ask Chuck, tax the is to

So economic the people that adopting that makes equation it. much for better

uses. SPD patents the these licensees This licensee other have is of by from David. patents for Do licensees? implementation significantly hinder various Many SPD

that it the that we sure years. won't of develop improvements wanted things over from that using one hinder is the make other licensees Well, to

of one and that license expires, license agreements, rights to basically pact XX.X, agreements the you the or of there's of license and our we terminates stating license smart every has if when the -- all IP look So glass a usually, related get at Section SPD.

CHIPS by Made another the Research focus America the question came from on CHIPS says, in brought the And any there William, Act. about ramifications for Act with Are Frontiers?

manufacturers. number Well, US-based we have a of

that extent economic have in the that all there's for here. have to only licensees in are So also, we operations US, our manufacturing licensees the advantages America. And some

That's them. that's good. So

which of entry that the difficulty from are years planning their and financial current Several then Jeff. is are will difficulty, you? the Okay. How market? use the some you does makers last automotive financial limit long. harder This to gain major View do assess starts to And This affect how in EV as ago. comes not will in companies,

take me questions. let Well, of you Okay. kind both

licensing is industry. in advantages being be that the electronic can of the in everybody we So vehicle one to to afford the of nice business

with. So and are to to even which doubt nobody to act or going frankly, be we years have was than we There choose was ago their whether quite able aren't. really make and work and ones don't XX,XXX which makers to EV who year together successful going nicely. be a knows pick more cars quite they've Because Tesla XX,XXX gotten

probably in business XXth the be We you to And back if were history. of Most expect didn't the the there make you carmakers. -- so it. many turn century, think that's there shakeouts; understood to

company, wide you net. So to we can. But licensing want a a cast being

towards only us? of established that companies, your is question other this part if how about moving starts does affect car The

General and is I one butter Ferrari established companies: has been and bread thing say the Well, McLaren, now. car Motors, would our that Mercedes

So we've admire a the carmakers respect, the ourselves existing and something very certainly from that that fact beneficial standpoint, been reliability us. which has both proven to is

say And If So established the that is track track prestigious do to newcomers, the I'd it we'll record. we carmakers, some if going ends goes And market it's also one long have well. vehicle a record. a electric up we'll benefit. to

minute. they entire which and pretty far we'll Vue financial more is have the smart for conference they've year-end been well on last they probably much your difficulty, for financially. industry. very not are learn doing a But call, of And us when As architectural about XX their glass question negative the as yeah, March somewhat their

window sales had is to million to issues, hard ended what up they've year. $XXX a losing smart they subsidizing last because costs customers, First, heavily very it's accounting been figure they've plus which their financial why and out should

I now a our say doing wish a of are better-performing reference what create can point great real other for they than too business. they They much a Not well. to all as technology well. competitors and So

privacy or came from TechCrunch distraction. recently the comes one another of Celestiq blinds Judy. I portion the article will megascreen passengers SPD fact that minimize driver And claiming Is display this fiction? incorporate this to across

what SPD say. are GM for only with thing will have broad read the now, sure this: some benefits standard is SPD. will be And always discussions OEMs the to driver minimize about roof. of on that we had with But will this I reporters I'm certainly distraction. say SPD-SmartGlass But can you Celestiq of Well, working

that. nothing So would on here me surprise

Okay.

we think of most questions. those I answered

for when was buildings office large Yes, or and Inflation introduced, Act changes was it the putting also homes. Act, smart Reduction as buying buildings inquiries has small glass licensee the with and architectural active Bob, Showa increase thank Also, known in of licensees the Roberts, and Denko previously John Hitachi the is material experienced producing film? passing sales? economics an a residential as the Dynamic and Chemical, selling certainly glass questions. and of Glass Resonac, into SPD titled it the it REFR From and IRA, you

film Hitachi Hitachi As far about Chemical in sold there's and company noted to the has this. that to SPD their division of had they into late to that is Denko reduce been continue sell of division business And because we this as your XXXX. But possibility as our question doing wind XX-K, as Chemical, move rebranded now Resonac they just down Showa part kind or because of company something from Corporation. may film think company, the was we that that to that

However, expensive, affect better in for But market. Bob. certainly of comparable many that original less question, because it's the performance and film, film you the and expands Gauzy. in than that This is thank shouldn't us which cases

could a for using Originally, an had you This although the using to selling they OEM Okay. from ad mentioned the technologies new this and, and SPD you OEMs BMW to electric alluded I was reason. in mentioned, of kind this this for switchable were is else, I not than an like realized technology, that technology be was but PDLC electrochromic imagine, were know something more as that has Claire. the year Do ad. saw very soon if glass this or SPD I other before, often sunroof that technology? problems recently appeared a

-- with things. that's it's think good experimenting they're I that So

SPD. use I the they they production want high-volume do the real when stuff, think they'll ultimately, and

And for family I've and rest Ron Ron lost, his and Ron person. who And about friend just many his broker to thank Matt we he a that dear times, want kind I I also a many, long-time wish and words was an well to in peace. spoken was really and Rizzato. shareholder amazing

answered most this questions questions are we've to I think or us. were point, of the at all that the e-mailed

make do any here. to then like Paul on some open I'd live to to have up that remarks closing we what which that So now floor Q&A might people after haven't going is have already. the I'm touched And

Operator

and Planning Wealth Instructions] [Operator Leetzow, Design. Leonard

Leonard Leetzow

question, in going one, an it will first be quarter. I Gauzy and was is that happen? I A think was the reading probably with true, Number going that to IPO public

Joe Harary

read Gauzy's public. did, ultimately you go I I is think the Len, to article same goal and

one know who visibility provides has expansion company benefits, strength a dealing I investors like and capital. of well-heeled and large of into with, think lot it like that. many welcome to the a being And gives on they're I their it I OEMs think such very comment and Gauzy as has others timing some that. Hyundai that a strong as supplier would can't

very think the up, we're they thaw it's but when for like very, IPO companies all well go long seeing do out. a -- we And I that also good I that public. think and market Gauzy dried time, beginning has do that realize will to

of know about and that. people that comments Gauzy, within I to at outside So this limit even some maybe I'm me than my more going just to anyone comments to so Gauzy this point. limit probably than my more let

Leonard Leetzow

question A have then. that a announced have making increased they year the of second that I that know almost emulsion they ago. been amount was

Joe Harary

The Xx the their in increase. Right. increase capacity. Yes, Xx

Leonard Leetzow

That soon? us positive share push be towards per to relatively has going that going so isn't to someplace, earnings

Joe Harary

investors right. are investment I'm this attracted say really They share going smart that investors an can't nice that it their Yes. what really to if benefit that's Gauzy. is is way. the company to our to market only And about both can I things was same amazing doing done not them vision glass that's as making right they're well. go originally that that where enough And but the delighted as we us

Leonard Leetzow

And content it's the which going it's are and where you with there? speed with getting

Joe Harary

for very and Len, right it we with of is the not never way. things waiting so list Gauzy months, that virtues. of that. the think I'm I was content on top born hand, I other six was in But important me, do my

has have a And us. technology. be I You start think don't want proven to either or false for good approach a that bad new starts with to

problems, When companies them you that killing and company. some haven't really done like this, tremendous into companies we've seen of end up ran the could

doing, do it want people I do you investment hiring to where And it. right. look think feel at So patterns, what -- right. only you'll if think of they're planning And get And to it and kind making do they're the good not I their as to do you it they're right, they're a to real it's right. doing but it to they're

Leonard Leetzow

order, With Is the hitting Glass credits -- passed, I Act the accurate having the the think if benefit still that start in they get January they 'XX. of or do of

Joe Harary

I in miss think XXXX. won't if so you in put it it service you you then, have do by to out

Leonard Leetzow

very us. be for But that would good

Joe Harary

Yes, very much so, very so. much

Leonard Leetzow

Joe. you, Thank Okay.

Operator

John private Nelson, Thank investor. you.

Q –UnidentifiedAnalyst

the record I've kind got as but the couple visor? a is first of broken far one a updates of question any on questions, the as windshield visor,

Joe Harary

Right.

the do, have test the concept itself. to started of kind built lot in that visor, sun do, actually case, a incorporate actually it. windshield already McLaren's into a that that itself concept put it the they vehicles we of has And into that vehicles vehicles some So built-in already and in into we

it's the worked a As about forward, several down fold and being I the than until gets licensees, far sun introduced, it mostly I that's there's think And but visor, as targeting on it's say application. that not aftermarket. could much by other moving good

Q –UnidentifiedAnalyst

may that assessment? then revenues on, not looks XXXX. but Great. be you a jump we're able set up this in Okay. for next significant REFR a like may it comment And reasonable one, at Is or to in

Joe Harary

earlier don't the used way, F prior in the noticed, first conference this I car Ferrari. know really But to think our the started our company. mentioned this in release by for XX-K time mentioning word being that cars week, their was saying and and the if but anyone name of I look -- is you if calls, I press are customers. without Ferrari And I delivered today, I pleased in at the --

we And in smart car. have as Cadillac is McLaren and with And we to we Purosangue have was excited unrelated other. one to between his Ferrari me have reached carmaker to and that it's now, directly to with mentioned, with glass this are and actually, say one he how out Asia. on of It's what out what the get I just two over it's each coming what not there what customers

about though SPD an also a think is I Hyundai talking and well. but as like they're those I'm assumed company yet I lot part of that another it's people of Asia hip the have that companies, coming view even in out of Kia. with product a looks different at joined kind separate

yes, have or because jump cars year. towards in So, don't I third these lot may in The of good end happen the the revenues, the until of going quarter. a out fourth to we're year, think a come

Q –UnidentifiedAnalyst

Okay. Great.

Joe Harary

we're think here. on trajectory a I positive yes, But,

Operator

Michael Kay, Kay Associates.

Michael Kay

the is fact the the seems income quarter, course and spot, the aren't your technology given I've other and a well extent that regarding -- words, Hello, but company. been on sweet cost I the that years it you've over Joe. still even has Gauzy, I manufacturers. a you, firms, the old it and been because tired why understand spot getting little the the SPD best for it's very But market, have quarter a the and really sweet after control car we flight the indicated proselytizing tell -- fee is that there seems that using SPD can't SPD a you architectural of down and over shareholder film XX reached pathetic as though and to

that SPD like getting into [indiscernible] volume? be Many concept many indicate the What is the of lower -- car manufacturers in them like could case about cars priced that of you cars. these the just

Joe Harary

are cars, as people this production to a the serial not a mentioned Yes. I manufacturer the will potential car Well, industry These every I and following year. the vastly at increase carmaker Hyundai actual mid-level that are car concept is being like think look volumes.

plant takes for if of Now each crop and long you amount a but time farmer crops, the could you to a ground time, stare certain you're a at grow.

And of to also or my seeds, came might so but three you'll think you'll hear to that things in that hear about, four with architectural. useful and good respect two all But think a I also we've closing started find ones comments, of or unexpected planted of grow, already my stuff. some lot in this have also the one I them comment, you year, markets, all and

Michael Kay

more Don't be that most And production there that Gauzy, company Hitachi source basically film. film? would be the a which the of companies looking to you you said manufacture want than from as is fine. Previously one film for were US-based of you -- said most could

So is -- still that

Joe Harary

I near I past the in probably customers. that looking you're second US-based. a never co-located it's their to source, What said is going be major said and for

be are. States, their Europe, So that be in make of may put the But about be in where volumes in may Asia, Korea, to licensees depending production in where be may facilities. South those may on decisions the kinds United

part then diversity that the you we this we industry, much of have of competition with. of industry do, lot think you'll also which the a satisfy glass I that automotive the glass And people among who's is in comfortable the who laminators, the requirement feel that if have pretty

Michael Kay

any SPD? use [Technical regarding of is their and progress Difficulty] is there Why displays that

Joe Harary

Display. the and Panasonic, look a think a LG at that's about strong and transparent and we've really that. supplying who's of attention as is. good an if presence mind-boggling OLED LG I other you mean, And this for spoken SPD you displays their Panasonic Yes, how in it's They've well. it technology. at number you action, had Panasonic, should And see a is very which with when look manufacturers remarkable I And display typically, getter. makes isn't certainly it

there is being us. helpful So for very

Michael Kay

with be hasn't market -- seem but in Going the there to trains upbeat, planes and been the that on

Joe Harary

in at in well. We're had example, for Talgo, SPD. of train. well. I if We're CES, Deutsche number All look We're going in mean, train things. trains. Bahn the very Japanese you Spanish the a going All operator,

adopted for trains pretty the world, transit. other around So seeing and much you're SPD

having been of area providing and on tech And business, they're as that high-end I Vision trains transit must licensee that whether to on buses because and businesses, their in Systems and solutions they one day say their has all safety a extremely been electronics it's other helpful all from those focused ancillary business the industries. focus has or --

really good to have knowledgeable So that it's mass about trains transit and that someone involved. is vehicles

Michael Kay

that your before we and management. XX way wouldn't wait stock the hope a confidence that the with around Okay. in correlates in another performs people's technology to I have years

Joe Harary

Thank you. be could I Okay. it worse. And --

the You to could an market your either be we're of But holding that's we're or in we Crown steady industry difficult. dominant year. involved with Vue XX% be last in now. lose that in the player value very and a And seem

right So not, to have going competition way. whether or to do continue we we're the things

Operator

Sherman, Planning Instructions] Strategic Group. [Operator Jarrod

Jarrod Sherman

moves low Hey, that cars get Joe. what XX,XXX of XXX,XXX is forward does we you price surrounding in at understand, just if was that but and standpoint, going Thanks us? and very in like look trains we're few cars hoping revenue, kind like to planes somebody for going revenue what taking cars a reported by a from point? I from year, my like a produced necessarily does a for some revenues. could call. yachts What numbers The -- and and from being that like guidance wise the are $XXX,XXX a look help look not it's question if it for high-end you year me

Joe Harary

great. Okay,

into just a So back let me question first little of bit. the all, kind of

in royalties that. getting series in when for took between cars estimates that like They in special had year because $XXX yet original exclude revenue we XXXX. per things $XXX our revenue one-time that all XXXX. for XXXX and kind been that out of haven't coming and events we as in So coming the are out yet the If production in and and all was the roughly we was revenue this year. reflected this, when same were prior car weren't Mercedes the And of they're doing you

technology And for that estimate be royalty of good price the come quite per in terms $XX would thinking down fortunately, of calculations a car. per then, a to Since the car $XXX back-of-the-envelope from I'm probably your has bit. anywhere to now use

multiply very us in profitable, XX,XXX So by clearly that if that profitable. you cars, make you'll putting someone can see that

Jarrod Sherman

size isn't mean, I glass just ones, -- standard of at the original the Now, a we're looking sunroof.

the improve glass. roof for That entire doesn't Now the is us? numbers

Joe Harary

could a interlayers of whether the It in or a But you're lot the of hand, it. that with switchable product so dealing piece other larger that the the not that cost of glass. on is go kind goes fabrication, and into glass any things it's into

So going if of up that's a piece cost a on film or but piece And money. larger it's be it labor a lay whether glass you're one, as spending there'll won't smart you not, be smaller some difference. of as dollars laminate to to much

sunroofs But, and yes, it's certainly a benefit are bigger. that becoming bigger

the all after like on the the roofs with traditional shade for goes pulls carmakers of you the car get basically us, and all back like Y car are the some windshields roofs about vehicles. that what's from that see something sunroof. the production, the you that And that on that see shade glass to good you that which those panoramic can't realized opportunity across is sunroofs into is panoramic way have ones the a go another the or typical Model you So sometimes the other that mechanical big

can need that else So shade you it. something

you're used such heavily to heat just a if car, heavy Now, tint But metal the as solar beginning, roof. a putting to tinted inside do that. glass have gain the well in of might a manage you they

the So weight. they that And actually reducing in added the also switchable. they're advantage beginning a need that realize has to switchable you're

of that calculations roof years that's example about XX because roof. components weight at went these it they the it's used a assembly So not a car, a SPD-SmartGlass, that's it saving the pounds from actually cost really would to about XX typical the ago, save in saving a Bentley the cost the and of even with cost if components. their cost components necessarily is a did significant that had roof, and presentation, the normal the And of of a roof moving stationary

we of and there's reliable moving because benefits: other other carmaker. Fahrenheit, reducing parts SPD no increased things only you like not the temperature then, course, more cabin for So them also money save that. by but headroom, we sunroof, XX are help And get the should the degrees in

Jarrod Sherman

and of it no slow the being adoption [indiscernible] costly going has like, and a wow, adopted, with XX,XXX, these did of think to to it. anything It's you an savings I cars. use -- Tesla of do good don't Tesla touch forever It's not XX,XXX stuck high-end range? mean it, one's So be how product to That's to too because it. elsewhere in item the taken

Joe Harary

of us the make eventually If It's SVD. just see matter this if back having that. the OEMs transcript you everybody look determination to I did Tesla was that be at one of conference earlier on that a also wouldn't sure. those call, surprised you'll that And I adopts of said

Operator

private Brady, Art investor.

Q –UnidentifiedAnalyst

Brady Art here. Joe. Hi,

Joe Harary

Art. Hi,

Q –UnidentifiedAnalyst

was would the built it's built comment establish configuration? specs by on on the -- Can you AGP factories that own that [Dusseldorf] or exactly of their the Gauzy same was of this

Joe Harary

of different a factory, a but type Art. it's It's question, good

They're saw one at we to has both So was thing, automated this AGP so costs. in engineers walk and highly sure make everything some to automated. through okay. The thing. labor that do I'm highly three factories working that just looking monitors Ghent they is very share Belgium were low factory that going

all the piece of of be what payback And of you make labor could some been investment because good an expensive the it on that sudden their technology you're the a means glass. of some amazing if you look think, mean? that you'll you it see you to It that glass, reliability you at each a they've if is time quite you cost the and now videos making and website, -- consistency comes out. our things AGPs want very to in with able do was does approach because don't Chinese automated good and of It system also have once labor automation

makes curing ITO-coated The It's on where UV. different Gauzy a an PET a film factory web roll-to-roll you're and moving emulsion then totally coating process. web a with which of is it

that than PVB it's buy of So that that stack process film two AGP or taking together EVA and or different a which adhesive piece would laminated hot putting is glass of they using a into is glass. sheets and what polyurethane to melt like laminate it doing, a from between Gauzy

Q –UnidentifiedAnalyst

any About some you Gauzy might people, to years movement in expect with some from that you I'm if East? [contact] that and we experience revenue see status the had the of what ago, is two were and there's the wondering in Middle there, when

Joe Harary

I from over revenue presence They they're all They world. very to the have what presence mean, the a strong privy going plans of in expanding are. to you're They their all and very in Middle I'm all I in East. America, actually. strong North parts of a have a Asia, them presence strong think from Asia these. see have

doing they're because think like don't this they it. I climb And to

I think they they're like doing are. it customers the because where they

all this that they're very we all the making good from world. yes, expect over investment So, payback a

Q –UnidentifiedAnalyst

When some you think that in revenue we do seeing regard start could actually --

Joe Harary

elsewhere of And do making is the -- the to X production. at that Well, emulsion the their film. needed And the million where factory meters if film. that capacity if in world, can. have you they they square replicate Stuttgart It to quintupled has look they they've in

at strategy their And doing me-too having not fact if product, indicators I on based you those PDLC doing it could they probably that's are SPD is are give I going. a where and the it to as they're a for going So based on business Gauzy, best growth leading they're public, the too. think product, in

Q –UnidentifiedAnalyst

your or them to Gauzy of any they the products any that of ask to these off could trains have instead sell train they've the tracks I occurring enhance groups types safety Does of as Joe, accidents. frequently. about wanted you falling of been

Joe Harary

been East tragedy helpful. be Austin, the electronic Well, bearings and that. and wouldn't Vision things the about to it if both I might Gauzy could coming that or very into happened of have heated do they do surprised like have heat that But systems, anything was be have not that sophisticated deployed. up. sensors cabin Systems sensor It's think in But with you anything if ball those some

they the tracks United But if mess. were look in the a at you States,

the the I fix these you before fix to trains have go on So think you that trains. roads

Q –UnidentifiedAnalyst

Yes, with understand. familiar you Tech? company SolarWindow Are you called of Have heard them? I a

Joe Harary

companies There's power are do out We things energy familiar. efficiency generating in there lot a to and photovoltaics. very trying that of transparent them. Not like through

you They're example, Systems material would Vision were able complementary transparent aircraft a did the make had of that just to partnering French were ago, window. company pop a at window they photovoltaic it that the for you if with technologies because what, side where into a self-contained they look years

to have smart times anything, wire it it power didn't and You to windows. needed would the operate XX more generate than

other phone solar devices cell energy. using You your charge could or

of lot a there's that But companies like trying. or

that enough pop or a a eliminates home ones technologies. power site, can States the especially into electricians to and of spoken to track a Some there of a are could lot up. United lot we've this real so transparent them energy And to, et of on don't they power that because be run And the And it in a these have having need benefit a window. still typically that homegrown of smart photovoltaics, for building or keep smart to promising the cetera. a then don't we generate energy is without vehicle any generate the need we window, you to wire

Operator

private investor. Forster, Michael

Unidentified Analyst

Joe, thanks think all questions. other got last information since And I now. for in answering the enough I'm I've line,

Joe Harary

Thanks, Okay, great. Michael.

time. at the queue more I in think we have one this

Operator

Tom investor. D'Javo, private

Unidentified Analyst

Joe. Hi, Yes.

all, I'd like efforts. for your you of First to thank

I It's into It's got the really are market. product. to things. the It's think towards get new a you tough. hard right working

a with a been XX that lately, info But XX. well SUV with as Kia perhaps stuff. this Without you looks more up like mentioned too Hyundai like roof. has it I coming mentioned Kia on noted were SPD? soon, as but magic Do getting it likely it's have going It EVX the car know it. not info and sounds that the Grandeur, on you anyway, is come it's possibility. by mentioned out has specific, some and see know, to very EVX could some you the The been

Joe Harary

and it's why. I think I tell first, candidate SPD, you for but don't to prime I'll going that be a it's think

basically work I I Kia are with benefit was internal know think they're it well. SPD, would politics reserve if give sister probably good and I that doing the know, before think I I company, to they're which a I myself stuff the that first between the I to the them, joined think you Hyundai, what But never but as my is at Kia. hip. And Hyundai important that Gauzy, investor in direct think will is to

Unidentified Analyst

sounds -- that Okay,

Joe Harary

in to be been don't be vehicles I I could Look, just EVX the I've about first. ones out were to wrong other -- that trying which come think handicap first. will going wrong.

Unidentified Analyst

by So soon point? this you of as month, this something well aware wouldn't as be

Joe Harary

-- if it's I that it think this out -- think be month. come would to don't going I would

Unidentified Analyst

Yes. answer. for No problem. the Thanks

as far know the As Grandeur, you --

Joe Harary

by mid-model that may -- may mean not It out a something it it EVX. introduction the like like or doesn't on that That be way, -- won't just doesn't a come mean Tom, that. be

Unidentified Analyst

was you. say VOS sunroof the working and able were necessarily. David Got they not in on way Grandeur with a you you, to because working got Gauzy Are roundabout if

Joe Harary

about talking that with very familiar on that we're a You're project that is different with working company

Operator

Instructions] [Operator

Joe Harary

I one see. I queue we the have think on more

Operator

Yes, sir. Raymond James Financial. McCarthy, Tom

Tom McCarthy

been on. answered, question Joe. so it I'll My already Hi, has pass

Joe Harary

Okay. Thanks, Good Tom. anyway. talking

Operator

Harvey, Jeff private investor.

Unidentified Analyst

update for big my those was vehicles. it Stellantis? their us and can wondering you but companies? just progress I in joined I to to is electric their know related late, I long give if Ford, a mean, an time GM, and get queue I question with takes

Joe Harary

Mercedes actually that, the because they respect have with the in being with in I because else. of read say we've our is I a DNA thing and since will anything the question And other record certainly track nutshell, than Sure, reliability XXXX had earlier established a we that's this more automakers your auto what and it. in answered actually and But positive -- McLaren, other

Unidentified Analyst

a Does what's holding cost, though? mid-range, -- this cost that inexpensive about I mean, factor cars? What for up is

Joe Harary

you expensive because that very to expectation not about the have say now think cars. wouldn't if -- I and No, is going those that are this, is Hyundai

going to So cost I now. think the be issue don't is

-- become XX that. to headroom to weight increase when eliminate I the in and you have when the benefits group increase the components have the effective can stability think you like don't and the and that you things reduce cost

but So Hitachi there's film than the it with things of is also basic the lot smart cost, go into the film. a far glass of this cost that lower with Gauzy was now

of that also So enabled happen. has a things lot to

say gave your because to time earlier. this just I question will some I

Unidentified Analyst

Okay.

Joe Harary

free you the on cellphone. to me questions, if any replay, have I'm happy to call still Once hear those. my feel after] you [pick

Unidentified Analyst

Yes, sir.

Okay. Thank you.

Joe Harary

You're always.

a You're I friend, appreciate so long-term it.

Operator

We have queue. no turn back our host. in further call the I'll questions over to

Joe Harary

you. Okay. Thank

remarks. to just make closing few I'm going a So

if Every Research of day, would we and And technology we and why those probably used wake place we get proven to only up, same you in then want best glass the the that's in smart the to in invest Frontiers. Research question, diversified a is ask Frontiers? industries, the actually place think benefits across invest all you industry all

hundreds have material, titanium. patent to patent If stainless of think of it's Frontiers as a or extensive a a patents Research an with if on worked you company we portfolio has on develop basic that as steel materials

check glare out of solution taken things our human materials thought problems, companies performance. figure that then and we've And use product allowed that to needs: do. everyday are there control, control, a to security, we invite out care has box things how the comfort, to These safety, enhancing already. these technology control, of the you to as our about people heat basic light Smart privacy,

we've We in strong in trains, boats, known out pipeline, consumer the product and performing area what automotive, best the but the industry become that, upon as most and we've have mostly Expanding planes, electronics, a also and growing this architectural. technology -- reliable.

or your you're their another where XX% to investing value, investment market of glass. you think Our reason deploy more if smart competitors want to in have about lost

think industry become they're us as glass with automotive, and the have smart known we who of us I as most industries financially So the also in And viable the also aircraft well. glass yachting, involved the player helping as customers. who's

did competitors build I maintain make mentioned, this we good, paying not look ourselves as worked and years credibility it's lot just So over and as we industry to hard us attention things. to our the of the a by And that leader. establish

this financial done stability. And through we've

to cash have smart least This gives five necessary we know us of We enough the for next spend and that resources, no at want plenty but these the resources to years we're debt. efficiently.

is time reliability a respects. in industry. proven industries, everybody long that XX diversification for quite very the compelling We of in years have automotive and that have industry, And our data

upon and has And inflation there, two an through Federal you to can and for Bank helpful gone And I is do recession to been both a happens Reserve you I positioned the saw high Frontiers my that. think, drawing was company calls when in And that perspective. the ago. in navigate that, world what have talked that our we and I what having economist as inflationary think through well New Research about environment. I York. recessionary was background conference at for

as suppliers view and as customers, is We of as experience rather. and also far government think respect and commercial good company, which as customers a mix view how business us us healthy have I longevity or in a and credibility and

and CapEx model We business high partnerships have good requirements. rewards, at predictable a with low good expenses,

grills, TVs, our adaptive expanding applications And like headlights, use we're into displays. new up heads

tangibly I seen address markets of the of areas architectural but can these past in large very in companies. very very more happen you'll some think also well-respected year, glass. see this And by that year You've like all this different

later Wait ability buildings the this SPD-SmartGlass. with existing exciting as to for areas retrofit developments talk year windows the in And about us for impact-resistant, market. architectural to such hurricane-resistant even

lower quick costs. to disruption is building owners and installation that and minimal tenants with with So

for and I want more to this good participating with sharing So everybody of call, on year I thank that, all look to forward today's with you. news

Operator

day. you a concludes This attending call. today's have pleasant for and conference Thank

Research Frontiers (REFR) 9 Mar 232022 Q4 Earnings call transcript