Why did REFR's operating profit surge in Q2 2024?

Research Frontiers' operating profit surged in Q2 2024 due to **Increased Fee Income** and **Market Segment Growth**.

1. **Increased Fee Income**: The company's fee income during Q1 2024 increased by over 26% compared to the same period last year, resulting from higher royalties from the automotive and aircraft markets. This growth can be attributed to the successful licensing of SPD-Smart technology to companies in these sectors.
2. **Market Segment Growth**: The company expects revenue growth across all market segments as new products incorporating its SPD-SmartGlass technology are introduced. This includes new car models, aircraft, trains, architectural designs, information displays, and other products. The growing demand for these products is a key driver of revenue growth.

In conclusion, the surge in operating profit is a result of a combination of factors, including increased fee income and market segment growth.

|code|Ticker|Name|Date|Operating Income|Total Revenue|Diluted EPS|market_code|
|---|---|---|---|---|---|---|---|
|REFR|REFR.O|Research Frontiers|2023 Q3|-513808|164146|-0.01|186|
|REFR|REFR.O|Research Frontiers|2023 Q4|-505385|312236||186|
|REFR|REFR.O|Research Frontiers|2024 Q1|-469750|313378|-0.01|186|
|REFR|REFR.O|Research Frontiers|2024 Q2|-116134|489594|0|186|

|code|Ticker|Name|Date|Operating Income YoY|Total Revenue YoY|Diluted EPS YoY|market_code|
|---|---|---|---|---|---|---|---|
|REFR|REFR.O|Research Frontiers|2023 Q3|-5.680712644671105|9.108433094261613|50|186|
|REFR|REFR.O|Research Frontiers|2023 Q4|38.374146126137994|140.36088466009252||186|
|REFR|REFR.O|Research Frontiers|2024 Q1|3.906342692790777|26.272992847788856|0|186|
|REFR|REFR.O|Research Frontiers|2024 Q2|77.89035608760547|164.5881971465629|100|186|