Summary of LGL Group Conference Call Company Overview - **Company Name**: LGL Group - **Stock Exchange**: New York Stock Exchange (Symbol: LGL) - **Founded**: 1917, listed in 1946 - **Market Capitalization**: Approximately $43 million with 6.39 million shares outstanding after warrant exercise [5][4][6] - **Principal Operating Facility**: Wakefield, Massachusetts, focusing on radio frequency technology [5][10] Core Business and Strategic Focus - **Defense Sector**: The company emphasizes growth in the defense sector, particularly in advanced precision navigation and timing, which is a significant area of investment for the Department of Defense [6][10] - **Growth Strategy**: Plans to grow both organically and inorganically, with a focus on new business initiatives and potential mergers and acquisitions (M&A) [3][8][12] - **Investment Vehicles**: Development of merchant investment vehicles, including special purpose vehicles (SPVs) and venture opportunities [8][15] Financial Highlights - **Book Value**: Estimated pro forma book value of about $7.25 per share [5] - **Recent Performance**: MtronPTI, a company spun off to shareholders in 2022 at $13 per share, is now trading in the 60s, showcasing successful value creation [12] Strategic Initiatives - **M&A Pipeline**: The company has a robust M&A pipeline but has put the acquisition of Morgan Group on hold for reevaluation due to ongoing diligence and strategic priorities [9][25] - **Cluster Development**: Plans to enhance presence in key areas such as Virginia, Baltimore, and Washington, D.C. to leverage engineering talent and deal flow [28] Shareholder Engagement - **Upcoming Shareholder Meeting**: Expected in the second quarter, aligned with the release of the 10-K results, to engage with shareholders and discuss future initiatives [33] Key Challenges and Considerations - **Market Positioning**: PTF division is perceived as dated compared to competitors like SiTime and Frequency Electronics, prompting discussions on innovation and product development [20] - **Agricultural Sector**: The company is still exploring opportunities in the agricultural sector, which may complement its defense activities [21][22] Conclusion - LGL Group is positioned for growth with a focus on the defense sector and strategic investments. The upcoming shareholder meeting will provide further insights into the company's direction and initiatives for value creation [14][33]

Orlando, Florida--(Newsfile Corp. - January 20, 2026) - The LGL Group, Inc. (NYSE American: LGL) ("LGL Group" or the "Company") announced Marc Gabelli, Executive Chairman, and Jason Lamb, Chief Executive Officer, will present and host one-on-one meetings with investors at Sidoti's Micro-Cap Virtual Investor Conference, taking place on Wednesday and Thursday January 21 - 22, 2026.During the presentation, Mr. Gabelli and Mr. Lamb will discuss LGL Group's strategy to expand its role in the development and dep ...

Orlando, Florida--(Newsfile Corp. - January 7, 2026) - The LGL Group, Inc. (NYSE American: LGL) ("LGL Group" or the "Company") today announced the results of the exercise of warrants to purchase shares of LGL Group common stock, par value $0.01 (the "Common Stock"), initially distributed on November 16, 2020 (the "Warrants"). The Warrants expired after 5:00 p.m. on Wednesday December 31, 2025 with 100% of the shares available to be issued from the Warrants to be issued through a combination of the Basic Wa ...

Orlando, Florida--(Newsfile Corp. - January 7, 2026) - The LGL Group, Inc. (NYSE American: LGL) ("LGL Group" or the "Company") today announced that Jason Lamb has joined the Company as Chief Executive Officer, effective January 5, 2026. In connection with Mr. Lamb's appointment, Marc Gabelli, LGL Group's current Chief Executive Officer and Chairman of the Board of Directors (the "Board"), will transition to Executive Chairman of the Board."Jason's strategic leadership, operational discipline, and deep expe ...

Revenue and Sales Performance - Total revenues decreased by $71, or 6.0%, from $1,179 for the three months ended September 30, 2024 to $1,108 for the three months ended September 30, 2025[131] - Net sales increased by $77, or 4.9%, from $1,573 for the nine months ended September 30, 2024 to $1,650 for the nine months ended September 30, 2025[138] - Net sales for the nine months ended September 30, 2025 were $1,650, an increase of $77, or 4.9%, compared to $1,573 for the same period in 2024[146] - Total revenues for the Corporate segment decreased by $38, or 18.0%, from $211 to $173 for the three months ended September 30, 2025[153] Profitability and Income - Net income attributable to LGL Group common stockholders increased by $700, or 972.2%, from $72 for the three months ended September 30, 2024 to $772 for the three months ended September 30, 2025[130] - Net income for the nine months ended September 30, 2025 was $762, an increase of $468, or 159.2%, from $294 for the same period in 2024[136] - Income from operations before income taxes increased by $71, or 59.2%, from $120 for the three months ended September 30, 2024 to $191 for the three months ended September 30, 2025[146] Expenses and Costs - Total expenses decreased by $53, or 5.1%, from $1,041 for the three months ended September 30, 2024 to $988 for the three months ended September 30, 2025[132] - Engineering, selling and administrative expenses increased by $165, or 8.7%, from $1,895 for the nine months ended September 30, 2024 to $2,060 for the nine months ended September 30, 2025[139] - Engineering, selling, and administrative expenses for the Merchant Investment segment increased by $136, or 62.7%, from $217 to $353 for the nine months ended September 30, 2025[150] - Manufacturing cost of sales decreased by $26, or 3.3%, from $786 to $760 for the nine months ended September 30, 2025[146] Tax and Investment Income - Income tax expense decreased by $722, or 1,504.2%, from $48 for the three months ended September 30, 2024 to an income tax benefit of $674 for the three months ended September 30, 2025[134] - Net investment income decreased by $89, or 16.8%, from $531 for the three months ended September 30, 2024 to $442 for the three months ended September 30, 2025[131] - Net investment income for the three months ended September 30, 2025 decreased by $44, or 13.8%, from $318 to $274 compared to the same period in 2024[148] Cash Flow and Liquidity - Cash provided by operating activities was $425 for the nine months ended September 30, 2025, a decrease of $466 compared to $891 for the same period in 2024[159] - Cash and cash equivalents at the end of the period were $41,571, a slight decrease from $41,585 at the beginning of the period[157] - Current ratio decreased from 47.2 to 39.6 as of September 30, 2025, indicating a tighter liquidity position[159] Order Backlog - As of September 30, 2025, the order backlog was $776, an increase of $440, or 131.0%, from $336 as of December 31, 2024[143] Corporate Segment Performance - Loss from operations before income taxes for the Corporate segment increased by $120, or 32.3%, from $371 to $491 for the nine months ended September 30, 2025[154]

Financial Performance - For Q3 2025, LGL Group reported revenues of $1,108,000, a decrease of 6.0% from $1,179,000 in Q3 2024[2] - Net income for Q3 2025 was $772,000, or $0.14 per diluted share, compared to $72,000, or $0.01 per diluted share in Q3 2024, reflecting a 972.2% increase[3] - Total revenues for Q3 2025 decreased by 6.0% to $1,108,000 compared to $1,179,000 in Q3 2024[29] - Net income attributable to LGL Group common stockholders increased significantly by 972.2% to $772,000 from $72,000 year-over-year[29] - For the nine months ended September 30, 2025, total revenues were $2,950,000, down 5.9% from $3,135,000 in the same period of 2024[31] - Net income for the nine months increased by 159.2% to $762,000 compared to $294,000 in the prior year[31] Segment Performance - Electronic Instruments segment revenues grew by 1.7% to $661,000, while Merchant Investment revenues fell by 13.8% to $274,000[29] - The Electronic Instruments segment reported a 4.9% revenue increase to $1,650,000, while Merchant Investment revenues decreased by 15.1% to $783,000[31] Expenses and Margins - Gross margin improved to 52.8% in Q3 2025, up from 43.4% in Q3 2024, primarily due to sales of higher margin products[4] - Total expenses decreased by 5.1% to $988,000, with a notable reduction in Electronic Instruments expenses by 8.1%[29] - Engineering, selling, and administrative expenses increased to $676,000 in Q3 2025 from $673,000 in Q3 2024[25] - Corporate expenses decreased by 17.1% to $286,000, contributing to overall expense reduction[29] Cash and Investments - Cash and cash equivalents, along with marketable securities, totaled $41.6 million as of September 30, 2025[5] - The company experienced lower net investment income due to reduced yields on investments in U.S. Treasury money market funds[3] Shareholder Returns and Acquisitions - LGL Group returned $366,000 to shareholders through share repurchases in Q3 2025, representing approximately 51,463 shares[12] - The strategic acquisition of Morgan Group Holding Co. is progressing, with plans to purchase 1,000,000 shares at $2.00 per share[14] Order Backlog - The order backlog as of September 30, 2025, was $776,000, an increase of $440,000 from $336,000 at the end of 2024[8] Tax Benefits - The company experienced a significant tax benefit, with income tax expense decreasing by 1,504.2% to $(674,000)[29]

Core Insights - The LGL Group, Inc. reported a significant increase in net income for Q3 2025, reaching $772,000 or $0.14 per diluted share, compared to $72,000 or $0.01 per diluted share in Q3 2024, marking a 972.2% increase [3][26] - Revenues for Q3 2025 were $1,108,000, a decrease of 6.0% from $1,179,000 in Q3 2024, while year-to-date revenues for 2025 were $2,950,000, down 5.9% from $3,135,000 in 2024 [2][26] - The gross margin improved to 52.8% in Q3 2025 from 43.4% in Q3 2024, attributed to higher-margin product sales [4][5] Financial Performance - Q3 2025 net income was $772,000, a substantial increase from $72,000 in Q3 2024, driven by higher net sales and lower manufacturing costs [3][26] - Year-to-date net income for 2025 was $715,000, compared to $230,000 in 2024, reflecting a 210.9% increase [2][26] - The gross margin for the nine months ended September 30, 2025, was 53.9%, up from 50.0% in the same period of 2024 [5] Revenue Breakdown - For Q3 2025, revenues from Electronic Instruments were $661,000, a slight increase of 1.7% from $650,000 in Q3 2024 [26] - Merchant Investment revenues decreased by 13.8% to $274,000 from $318,000 in Q3 2024, while Corporate revenues fell by 18.0% to $173,000 from $211,000 [26] - Year-to-date revenues for Electronic Instruments increased by 4.9% to $1,650,000, while Merchant Investment revenues decreased by 15.1% to $783,000 [26] Operational Metrics - As of September 30, 2025, the order backlog was $776,000, an increase from $336,000 at the end of 2024 and $505,000 in Q3 2024 [9] - Cash and cash equivalents, along with marketable securities, totaled $41.6 million as of September 30, 2025 [6][10] - The company returned $366,000 to shareholders through share repurchases in Q3 2025 [12] Strategic Initiatives - The company is advancing its partnership with P3 Logistic Solutions, focusing on edge-computing hardware for agriculture and industrial sectors [13] - The acquisition of Morgan Group Holding Co. is progressing, with plans to purchase 1,000,000 shares at $2.00 each [14][15]

Core Viewpoint - The LGL Group, Inc. has announced an extension of the expiration date for its warrants to purchase common stock until December 9, 2025, allowing holders additional time to exercise their rights [1]. Company Overview - The LGL Group, Inc. is a holding company involved in services, merchant investment, and manufacturing activities, with a focus on precision engineering and industrial electronic instruments [4][6]. - The company was incorporated in 1928 and has a long history in the precision engineering and manufacturing sectors, evolving from its origins in glass-forming machinery [5][6]. Warrant Details - The warrants allow holders to purchase one share of common stock at a strike price of $4.75 per share, with an over-subscription privilege available for those who fully exercise their warrants [7]. - All exercise notices and payments must be received by Computershare Trust Company by 5:00 p.m. Eastern Time on December 9, 2025 [2].

[Company Announcements & Strategic Updates](index=1&type=section&id=Company%20Announcements%20%26%20Strategic%20Updates) The LGL Group announced a share repurchase program, provided warrant exercise details, scheduled an investor conference, updated on the MGHL acquisition, and introduced new AI-driven initiatives [Shareholder Actions](index=1&type=section&id=Shareholder%20Actions) The LGL Group announced the commencement of a share repurchase program and provided details regarding the exercise of its warrants, with approximately 45,000 shares already issued [Share Repurchase Program](index=1&type=section&id=Share%20Repurchase%20Program) The Board of Directors authorized a share repurchase of $500,000 to $700,000 of common stock, not exceeding 100,000 shares, expected to begin this quarter - Board authorized share repurchase of **$500,000** to **$700,000** of common stock[1](index=1&type=chunk) - Repurchase not expected to exceed **100,000** shares and is anticipated to begin this quarter[1](index=1&type=chunk) [Warrant Exercise](index=1&type=section&id=Warrant%20Exercise) LGL Group's warrants are exercisable through November 17, 2025, at a strike price of $4.75 per share, with an oversubscription privilege available from October 16, 2025, and approximately 45,000 shares have been issued to date - Warrants are exercisable through November 17, 2025, at a strike price of **$4.75** per share[2](index=2&type=chunk)[11](index=11&type=chunk) - Approximately **45,000** shares have been issued from the exercise of warrants to date[3](index=3&type=chunk) - An oversubscription privilege is available to warrant holders starting October 16, 2025[11](index=11&type=chunk) [Investor Relations](index=1&type=section&id=Investor%20Relations) LGL Group is scheduled to present at the Sidoti Small Cap Virtual Conference on September 18, 2025 [Sidoti Small Cap Conference Presentation](index=1&type=section&id=Sidoti%20Small%20Cap%20Conference%20Presentation) LGL Group will present at the Sidoti Small Cap Virtual Conference on Thursday, September 18, 2025, at 11:30 a.m. ET - LGL Group will present at the Sidoti Small Cap Virtual Conference on Thursday, September 18, 2025, at **11:30 a.m.** ET[4](index=4&type=chunk) [Strategic Investments & Acquisitions](index=1&type=section&id=Strategic%20Investments%20%26%20Acquisitions) LGL Group provided an update on its pending acquisition of Morgan Group Holding Co. (MGHL), detailing MGHL's business and anticipated leadership changes upon closing [Morgan Group Holding Co. (MGHL) Acquisition Update](index=1&type=section&id=Morgan%20Group%20Holding%20Co.%20(MGHL)%20Acquisition%20Update) The purchase of 1,000,000 newly issued shares of Morgan Group Holding Co. (MGHL) for $2.00 per share remains pending final agreements and approvals, with an expected closing in the third quarter of 2025 - LGL Group's purchase of **1,000,000** newly issued shares of Morgan Group Holding Co. (MGHL) for **$2.00** per share is pending final agreements and approvals[6](index=6&type=chunk) - The transaction is expected to close in the third quarter of 2025[6](index=6&type=chunk) [MGHL Business Overview](index=1&type=section&id=MGHL%20Business%20Overview) MGHL, through its subsidiary G.research, LLC (G.R), offers brokerage, underwriting, and institutional research services, managing over $5.0 billion in private client assets across more than 1,000 accounts - MGHL, through its wholly owned subsidiary G.research, LLC (G.R), provides brokerage, underwriting, and institutional research services[7](index=7&type=chunk) - G.R manages over **$5.0 billion** of private client assets in over **1,000** accounts[7](index=7&type=chunk) [MGHL Leadership Changes](index=1&type=section&id=MGHL%20Leadership%20Changes) Upon the closing of the MGHL acquisition, Herve Francois will join as Chairman and CEO, and Chris Nossokoff as CFO, while G.R.'s current leadership will remain in place - Once closed, Herve Francois will join MGHL as Chairman and Chief Executive Officer, and Chris Nossokoff as Chief Financial Officer[8](index=8&type=chunk) - G.R. will continue to be led by Vincent Amabile as President and Joseph Fernandez as Financial Operations Principal and Controller[8](index=8&type=chunk) [New Business Initiatives](index=1&type=section&id=New%20Business%20Initiatives) LGL Group's PTF division, P3 Logistic Solutions LLC, is developing AI-driven tactical edge device prototypes for agricultural applications, adapting defense technology, with no material benefits expected in 2025 but value anticipated in the medium term [P3 Logistic Solutions AI-Driven Edge Devices](index=1&type=section&id=P3%20Logistic%20Solutions%20AI-Driven%20Edge%20Devices) P3 Logistic Solutions LLC, part of the PTF division, is developing AI-driven tactical edge device prototypes for modern agriculture, adapting defense technology, with field tests planned and material benefits anticipated in the medium term, not 2025 - P3 Logistic Solutions LLC (PTF division) is developing new AI-driven tactical edge device prototypes[9](index=9&type=chunk) - The technology, originally for U.S. Department of Defense use, is being adapted for modern agriculture, with field tests planned for precision crop monitoring, smart irrigation, and autonomous asset tracking[9](index=9&type=chunk)[10](index=10&type=chunk) - No material benefits from these new initiatives are expected in 2025, but value is anticipated in the medium term[12](index=12&type=chunk) [Financial Performance Overview](index=3&type=section&id=Financial%20Performance%20Overview) LGL Group reported a net loss for Q2 and the first six months of 2025, with declining revenues and gross margin, but an increased backlog and stable working capital [Q2 2025 Consolidated Financial Highlights](index=3&type=section&id=Q2%202025%20Consolidated%20Financial%20Highlights) LGL Group reported a net loss of ($51,000) or ($0.01) per diluted share for Q2 2025, a significant decline from Q2 2024, with total revenues decreasing by 13.5% year-over-year due to lower net sales and investment income | Metric | Q2 2025 | Q2 2024 | % Change | | :--------------------------------- | :------ | :------ | :------- | | Revenues | $924 | $1,068 | -13.5% | | Gross margin | 57.0% | 59.7% | -4.5% | | Net (loss) income | $(51) | $137 | -137.2% | | Net (loss) income per diluted share | $(0.01) | $0.02 | -138.1% | - The decrease in net income was primarily due to lower net sales from reduced product shipments and lower net investment income from U.S. Treasury money market funds due to lower yields[14](index=14&type=chunk)[19](index=19&type=chunk) [Key Financial Metrics Analysis](index=3&type=section&id=Key%20Financial%20Metrics%20Analysis) An analysis of key financial metrics for Q2 and the first six months of 2025 reveals declines in revenues and net income, a decrease in gross margin for the quarter, but an increase in backlog from year-end 2024, alongside stable working capital [Revenues and Net Income](index=3&type=section&id=Revenues%20and%20Net%20Income) For the six months ended June 30, 2025, total revenues decreased by 5.8% to $1,842,000, resulting in a net loss of ($57,000) or ($0.01) per diluted share, compared to net income of $158,000 or $0.03 per diluted share in the prior year period | Metric | 6M 2025 | 6M 2024 | % Change | | :--------------------------------- | :------ | :------ | :------- | | Revenues | **$1,842** | $1,956 | **-5.8%** | | Net (loss) income | **$(57)** | $158 | **-136.1%** | | Net (loss) income per diluted share | **$(0.01)** | $0.03 | **-137.4%** | - The fiscal year-to-date decrease in net income was primarily due to lower Net investment income, partially offset by higher Net sales driven by higher product shipments[15](index=15&type=chunk) [Gross Margin](index=3&type=section&id=Gross%20Margin) Gross margin for Q2 2025 decreased to 57.0% from 59.7% due to lower margin products, while the fiscal year-to-date gross margin remained flat at 54.7% - Q2 2025 gross margin decreased to **57.0%** from **59.7%** in Q2 2024, primarily due to sales of lower margin products[14](index=14&type=chunk) - Fiscal year-to-date gross margin was flat at **54.7%** for the six months ended June 30, 2025 and 2024[16](index=16&type=chunk) [Backlog](index=3&type=section&id=Backlog) As of June 30, 2025, the order backlog increased to $527,000 from year-end 2024 but decreased from June 2024, with most expected to ship within 90 days | Date | Backlog Amount | | :---------------- | :------------- | | June 30, 2025 | **$527,000** | | December 31, 2024 | $336,000 | | June 30, 2024 | $737,000 | - Order backlog as of June 30, 2025, increased by **$191,000** from December 31, 2024, but decreased by **$210,000** from June 30, 2024[17](index=17&type=chunk) - Most of the backlog is expected to ship within the next **90 days**[17](index=17&type=chunk) [Liquidity and Working Capital](index=3&type=section&id=Liquidity%20and%20Working%20Capital) Working capital as of June 30, 2025, was $41,634,000, a slight decrease from year-end 2024, with $41.8 million in investments, including $25.2 million in Merchant Investment | (in thousands) | June 30, 2025 | December 31, 2024 | | :------------- | :------------ | :---------------- | | Current assets | $42,515 | $42,642 | | Less: Current liabilities | $881 | $904 | | Working capital | **$41,634** | $41,738 | - As of June 30, 2025, LGL Group had **$41.8 million** in investments, with **$25.2 million** held within the Merchant Investment business[18](index=18&type=chunk) [Company Information](index=4&type=section&id=Company%20Information) The LGL Group, a holding company in services, merchant investment, and manufacturing, outlines its business strategy and includes a cautionary note on forward-looking statements [About The LGL Group, Inc.](index=4&type=section&id=About%20The%20LGL%20Group,%20Inc.) The LGL Group, Inc. is a holding company engaged in services, merchant investment, and manufacturing, with its PTF division producing industrial electronic instruments, focusing on growth through diversified industries - The LGL Group, Inc. is a holding company engaged in services, merchant investment, and manufacturing business activities[20](index=20&type=chunk) - Precise Time and Frequency, LLC (PTF) is a globally positioned producer of industrial Electronic Instruments[20](index=20&type=chunk) - LGL Group's business strategy is primarily focused on growth through expanding new and existing operations across diversified industries[22](index=22&type=chunk) - LGL Group common stock and warrants are traded on the NYSE American under the symbols 'LGL' and 'LGL WS', respectively[21](index=21&type=chunk) [Cautionary Note Concerning Forward-Looking Statements](index=4&type=section&id=Cautionary%20Note%20Concerning%20Forward-Looking%20Statements) This press release contains forward-looking statements, subject to various uncertainties and risks, made in reliance upon safe harbor provisions, with the company disclaiming any obligation to update them - The press release may contain forward-looking statements, identifiable by words such as 'may,' 'will,' 'expect,' and 'project'[23](index=23&type=chunk) - These statements are subject to uncertainties and risks described in SEC filings, and the company disclaims any obligation to update them[23](index=23&type=chunk) [Detailed Financial Statements](index=5&type=section&id=Detailed%20Financial%20Statements) This section presents the unaudited condensed consolidated statements of operations and balance sheets, along with detailed segment results for Q2 and the first six months of 2025 [Condensed Consolidated Statements of Operations](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) This section presents the unaudited condensed consolidated statements of operations for the three and six months ended June 30, 2025, and 2024, detailing revenues, expenses, and net income/loss attributable to LGL Group common stockholders | (in thousands, except share data) | 2025 | 2024 | | :---------------------------------------- | :--- | :--- | | Net sales | $491 | $531 | | Net investment income | $428 | $538 | | Net gains (losses) | $5 | $(1) | | Total revenues | $924 | $1,068 | | Manufacturing cost of sales | $211 | $214 | | Engineering, selling and administrative | $744 | $617 | | Total expenses | $955 | $831 | | (Loss) income from operations before income taxes | $(31) | $237 | | Income tax expense | $14 | $76 | | Net (loss) income | $(45) | $161 | | Net (loss) income attributable to LGL Group common stockholders | $(51) | $137 | | Diluted (Loss) income per common share | $(0.01) | $0.02 | | (in thousands, except share data) | 2025 | 2024 | | :---------------------------------------- | :--- | :--- | | Net sales | $989 | $923 | | Net investment income | $845 | $1,037 | | Net gains (losses) | $8 | $(4) | | Total revenues | $1,842 | $1,956 | | Manufacturing cost of sales | $448 | $418 | | Engineering, selling and administrative | $1,384 | $1,222 | | Total expenses | $1,832 | $1,640 | | (Loss) income from operations before income taxes | $10 | $316 | | Income tax expense | $42 | $112 | | Net (loss) income | $(32) | $204 | | Net (loss) income attributable to LGL Group common stockholders | $(57) | $158 | | Diluted (Loss) income per common share | $(0.01) | $0.03 | [Condensed Consolidated Balance Sheets](index=6&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) This section provides the unaudited condensed consolidated balance sheets as of June 30, 2025, and December 31, 2024, detailing the company's assets, liabilities, and stockholders' equity | (in thousands) | June 30, 2025 | December 31, 2024 | | :---------------------------------------- | :------------ | :---------------- | | Cash and cash equivalents | $41,735 | $41,585 | | Marketable securities | $26 | $17 | | Accounts receivable, net | $263 | $493 | | Inventories, net | $254 | $267 | | Prepaid expenses and other current assets | $237 | $280 | | Total current assets | $42,515 | $42,642 | | Total assets | $43,030 | $43,145 | | Total current liabilities | $881 | $904 | | Non-current liabilities | $1,017 | $1,001 | | Total liabilities | $1,898 | $1,905 | | Total stockholders' equity | $41,132 | $41,240 | | Total liabilities and stockholders' equity | $43,030 | $43,145 | [Segment Results](index=7&type=section&id=Segment%20Results) This section details the unaudited segment results for Electronic Instruments, Merchant Investment, and Corporate segments, outlining their respective revenues, expenses, and operating income/loss for both the three and six months ended June 30, 2025, and 2024 [Q2 2025 Segment Performance](index=7&type=section&id=Q2%202025%20Segment%20Performance) In Q2 2025, Electronic Instruments revenues decreased by 7.5% and Merchant Investment revenues declined by 16.8%, with Electronic Instruments' operating income slightly down and Merchant Investment's operating income dropping significantly by 37.6%, while the Corporate segment's operating loss widened substantially | Segment | Q2 2025 Revenues | Q2 2024 Revenues | $ Change | % Change | | :------------------- | :--------------- | :--------------- | :------- | :------- | | Electronic Instruments | $491 | $531 | $(40) | **-7.5%** | | Merchant Investment | $262 | $315 | $(53) | **-16.8%** | | Corporate | $171 | $222 | $(51) | **-23.0%** | | **Total revenues** | **$924** | **$1,068** | **$(144)** | **-13.5%** | | Segment | Q2 2025 Operating Income (Loss) | Q2 2024 Operating Income (Loss) | $ Change | % Change | | :------------------- | :------------------------------ | :------------------------------ | :------- | :------- | | Electronic Instruments | $68 | $74 | $(6) | **-8.1%** | | Merchant Investment | $148 | $237 | $(89) | **-37.6%** | | Corporate | $(247) | $(74) | $(173) | **233.8%** | [Six Months Ended June 30, 2025 Segment Performance](index=8&type=section&id=Six%20Months%20Ended%20June%2030,%202025%20Segment%20Performance) For the first six months of 2025, Electronic Instruments revenues increased by 7.2% and operating income improved by 14.5%, while Merchant Investment revenues decreased by 15.7% and operating income fell by 36.9%, with the Corporate segment's operating loss widening by 59.5% | Segment | 6M 2025 Revenues | 6M 2024 Revenues | $ Change | % Change | | :------------------- | :--------------- | :--------------- | :------- | :------- | | Electronic Instruments | $989 | $923 | $66 | **7.2%** | | Merchant Investment | $509 | $604 | $(95) | **-15.7%** | | Corporate | $344 | $429 | $(85) | **-19.8%** | | **Total revenues** | **$1,842** | **$1,956** | **$(114)** | **-5.8%** | | Segment | 6M 2025 Operating Income (Loss) | 6M 2024 Operating Income (Loss) | $ Change | % Change | | :------------------- | :------------------------------ | :------------------------------ | :------- | :------- | | Electronic Instruments | $87 | $76 | $11 | **14.5%** | | Merchant Investment | $301 | $477 | $(176) | **-36.9%** | | Corporate | $(378) | $(237) | $(141) | **59.5%** |

Core Insights - LGL Group, Inc. has authorized a share repurchase plan of $500,000 to $700,000, expected to begin this quarter, with a maximum of 100,000 shares to be repurchased [1] - The company will present at the Sidoti Small Cap Virtual Conference on September 18, 2025 [3] - LGL Group is in the process of acquiring 1 million newly issued shares of Morgan Group Holding Co. at $2.00 per share, pending final agreements and approvals [4] Financial Performance - For Q2 2025, LGL Group reported revenues of $924,000, a decrease of 13.5% from $1,068,000 in Q2 2024 [10][11] - The gross margin for Q2 2025 was 57.0%, down from 59.7% in Q2 2024, attributed to lower margin product sales [11] - The net loss for Q2 2025 was $51,000, compared to a net income of $137,000 in Q2 2024, marking a 137.2% decline [10][11] Segment Results - In Q2 2025, revenues from Electronic Instruments were $491,000, down 7.5% from $531,000 in Q2 2024 [25] - Merchant Investment revenues decreased by 16.8% to $262,000 from $315,000 in Q2 2024 [25] - Corporate revenues fell by 23.0% to $171,000 from $222,000 in Q2 2024 [25] Backlog and Liquidity - As of June 30, 2025, the order backlog was $527,000, an increase from $336,000 at the end of 2024 but a decrease from $737,000 in June 2024 [14] - Current assets as of June 30, 2025, were $42,515,000, slightly down from $42,642,000 at the end of 2024 [17][24] New Initiatives - The PTF division is developing AI-driven tactical edge device prototypes for agricultural applications, with field tests planned [7][8] - The company does not expect to see material benefits from these new initiatives in 2025 but anticipates medium-term value development [9]